Payments could shave Avista bills
A decision by the Bonneville Power Administration to make $322 million in interim payments to public and investor-owned utilities could shave about 4 percent off Avista Utilities’ residential electricity bills, a spokesman said Monday.
The payments would amount to an estimated $9.4 million for Avista, Hugh Imhof said. If regulators approve, the money would be treated as a credit on customer bills while BPA tries to resolve one of the top energy issues facing the region – the residential exchange program.
BPA manages the program, which allows utilities to share access to cheap hydropower controlled by the federal agency.
Public utilities buy power from BPA at preferential rates. The residential exchange program allows private utilities to also access the power. But how much they should get has been disputed.
BPA suspended $28 million per month in exchange benefits in May, when the 9th U.S. Circuit Court of Appeals said the agency overstepped its authority when setting the amount residential and small farm customers of privately owned utilities should receive.
Resolution of the dispute won’t come until the fall, but BPA said it believes the region should consider the interim payments to both sets of parties rather than wait until then.
The decision is up for public comment until Jan. 7. But if the utilities agree, the payments could be sent by mid-January.
OLYMPIA
Gregoire asks for housing increase
Gov. Chris Gregoire and top legislative leaders are proposing a $50 million increase in the state’s Housing Trust Fund, with an eye to helping flooded areas and low-income people.
The governor is asking for a major expansion of the program, with up to $10 million earmarked for low-income housing in areas hit by recent flooding. The plan also includes money for short-term loans to buy property for low-income housing.
Gregoire also wants $6 million to expand the Washington Families Fund, which works to find affordable housing for homeless families.
The governor made her proposal in Seattle on Monday and was joined by fellow Democrats House Speaker Frank Chopp, of Seattle, and Senate Majority Leader Lisa Brown, of Spokane.
SEATTLE
WaMu’s Chapman leaving legal post
The chief legal officer for Washington Mutual Inc. is retiring after 10 years with the company, which has been hit hard by the subprime mortgage meltdown.
Fay L. Chapman, 61, will serve as a consultant to the Seattle-based savings and loan for two years to help with the transition.
In a statement issued Monday, WaMu said its board of directors has named Steward M. Landefeld, as interim chief legal officer during a nationwide search for Chapman’s successor. Landefeld is a partner at Perkins Coie, where he serves as chairman of the law firm’s business practice group.