Net billing

The arrangement by which the Bonneville Power Administration financed the cost of nuclear power plants. Utilities that owned shares in the projects, and paid a share of the costs, assigned to BPA all or part of the generating capability of the power plants. BPA, in turn, credited the wholesale power bills of those utilities to cover the costs of their shares in the projects. BPA then sold the power output of the plants by averaging their higher cost with lower cost hydropower.