 | This article needs additional citations for verification. (August 2013) |
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| Company type | Municipal corporation |
|---|---|
| Industry | Public utility |
| Founded | 1957 |
| Headquarters | Richland, Washington, U.S. |
| Products | Electricity |
| Website | www |
Energy Northwest (formerly Washington Public Power Supply System) is a public power joint operating agency in the northwest United States, formed in 1957 by Washington state law to produce at-cost power for Northwest utilities. Headquartered in the Tri-Cities at Richland, Washington, the WPPSS became commonly (and derisively) known as "Whoops!",[1][2] due to over-commitment to nuclear power in the 1970s which brought about financial collapse and the second largest municipal bond default in U.S. history.[3] WPPSS was renamed Energy Northwest in November 1998, and agency membership includes 28 public power utilities, including 23 of the state's 29 public utility districts.
Energy Northwest is governed by two boards: an executive board and a board of directors. The executive board has 11 members: five representatives from the board of directors, three gubernatorial appointees and three public representatives selected by the board of directors. The board of directors includes a representative from each member utility.
The consortium's nuclear, hydro, wind, solar, and battery storage projects deliver nearly 1,400 megawatts of electricity to the Northwest power grid. Current power projects include White Bluffs Solar Station, Packwood Lake Hydroelectric Project, Nine Canyon Wind Project, Horn Rapids Solar, Storage and Training Project and Columbia Generating Station nuclear power plant.
Energy Northwest functions as a municipal corporation, similar to a town or city. That legal status allows the agency to issue public bonds to raise the financial capital necessary to build additional power generating and other public utility facilities.
The agency also provides a variety of business services in the energy, power generation and technical fields, including a range of project management and facility operations and maintenance services.
- ^ Alexander, Charles P. (August 8, 1983). "Whoops! A $2 Billion Blunder: Washington Public Power Supply System". Time.
- ^ Blumstein, Michael (August 14, 1983). "The lessons of a bond failure". The New York Times. Retrieved September 13, 2017.
- ^ Russel, Rob. "Muni Bonds: The Most Dangerous Bonds to Own". U.S. News & World Report. Retrieved 15 February 2014.