Bonneville Power Administration 1993 Annual Report.

For the first time in a decade, Bonneville had to propose a double digit rate increase in 1993. Many of the causes were beyond our control, but self-examination and painful budget cuts put the focus squarely where it should be -- on the changes needed for BPA to compete in an increasingly market-driven business environment. As deregulation and change sweep the electricity industry, BPA has launched a major Competitiveness Project. It`s clear that we can, and will, cut costs and make ourselves more efficient. We can shape our products and services to better reflect what customers want and are willing to pay for. And more than ever we will measure and reward output -- results -- more than process. BPA today is the Northwest`s low-cost supplier of electricity and transmission services. To stay that way, we must adopt a more business-like model. The move does not signal a rejection of our role as a federal agency. In fact, close attention to sound business principles is the only way to strengthen our commitment to fish and wildlife, environment, and other community values.