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DOCUMENT EESU9E
04274 - (B3554812]
Alaska Power Administration: Financial Managemtnt and Program
Operations. EMD-78-1; B-188151. December 20, 1977. 28 pp. + 14
enclosures (32 pp.) .
Report to the Congress; by Elmer B. Staats, Comptroller General.
Issue Areaz Accounting and Financial Reporting (2800).
Contact: Energy and Minerals Div.
Budget Function: Natural Resources, Enviroaiment, and Energy:
Water Resources and Power (301).
Organization Concerned: Alaska Power Administration; Department
of the Army; Department of Energy.
Congressional r, elevance: House Committee on Public Works and
Transportation; Senate Committee on Energy and Natural
Resources; Congress.
Authority: Flood Control Act of 1944, sec. 5 (16 U.S.C. 825s).
Eklutna Project Act (P.L. 81-628). Flood Ccntrol Act of
1962, sec. 204 (P.L. 87-874). later Resources Development
Act of 1976 (P.L. 94-587). Alaska Hydroelectric Power
Development Act. P.L. 90-523. Department of the Interior
Secretarial Order 2900.
The Alaska Power Administration %APA) operates two
hydroelectric projects--Eklutna and Snetticham. Both projects
require increases in power rates in order to pay back Federal
investments. i'ecent legislation was enact.ed to encourage more
rapid use of S; ettisham power, but the legislation restricts the
Administratoi , ability to financially manage the repayment of
the iederal ment in the project. Findings/onclusions:
The Alaska Pk 1-inistration's Federal Powcr Program, which
is responsibl, king and maintaining the two
hydroelectric g projpcts and for pom.- -marketing
operations, had a. $109.? million on June 30, 1976, and
income from sellip ric power of $2.1 million for fiscal
year 1976. The A -,ts investigations related to the future
development and ui tater, power, and other resources.
General investigations cost $652,00 in fiscal year 1976. The
Federal Power Program lost $1.3 million net during fiscal year
1976 principally because of losses from operating the Snettisham
prcject. Total net revenues from the program were $7 million on
June 30, 1976. Recommendations: To maintain a consistent
rate-setting review poli-y, the Congress should enact
legislation reQairing Federal Energy Regulatory Commission
approval of the power rates established for the Snettisham
prrJect. Th.: Congress should also closely monitor and review
those provisions of the water Resources DeveloFment Act ot 1976
which limit repayment of the Federal investment, with particular
attention to whether the law is encouraging raFid use of the
surplus Snettisham power. (Author/SC)](ViewImageLocal?handle=hein.gao/gaobaawhv0001&div=1&collection=&method=preview&ext=.png&size=3)