§ 831m. — Allocation and charge of value and cost of plants to particular objects; cost accounting; reports of costs of operation; sale of surplus power at profit.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 16USC831m]
TITLE 16--CONSERVATION
CHAPTER 12A--TENNESSEE VALLEY AUTHORITY
Sec. 831m. Allocation and charge of value and cost of plants to
particular objects; cost accounting; reports of costs of
operation; sale of surplus power at profit
The Board shall make a thorough investigation as to the present
value of Dam Numbered 2, and the steam plants at nitrate plant numbered
1, and nitrate plant numbered 2, and as to the cost of Cove Creek Dam,
for the purpose of ascertaining how much of the value or the cost of
said properties shall be allocated and charged up to (1) flood control,
(2) navigation, (3) fertilizer, (4) national defense, and (5) the
development of power. The findings thus made by the Board, when approved
by the President of the United States, shall be final, and such findings
shall thereafter be used in all allocation of value for the purpose of
keeping the book value of said properties. In like manner, the cost and
book value of any dams, steam plants, or other similar improvements
hereafter constructed and turned over to said Board for the purpose of
control and management shall be ascertained and allocated. The Board
shall, on or before January 1, 1937, file with Congress a statement of
its allocation of the value of all such properties turned over to said
Board, and which have been completed prior to the end of the preceding
fiscal year, and shall thereafter in its annual report to Congress file
a statement of its allocation of the value of such properties as have
been completed during the preceding fiscal year.
For the purpose of accumulating data useful to the Congress in the
formulation of legislative policy in matters relating to the generation,
transmission, and distribution of electric energy and the production of
chemicals necessary to national defense and useful in agriculture, and
to the Federal Power Commission and other Federal and State agencies,
and to the public, the Board shall keep complete accounts of its costs
of generation, transmission, and distribution of electric energy and
shall keep a complete account of the total cost of generating and
transmission facilities constructed or otherwise acquired by the
Corporation, and of producing such chemicals, and a description of the
major components of such costs according to such uniform systems of
accounting for public utilities as the Federal Power Commission has, and
if it have none, then it is empowered and directed to prescribe such
uniform system of accounting, together with records of such other
physical data and operating statistics of the Authority as may be
helpful in determining the actual cost and value of services, and the
practices, methods, facilities, equipment, appliances, and standards and
sizes, types, location, and geographical and economic integration of
plants and systems best suited to promote the public interest,
efficiency, and the wider and more economical use of electric energy.
Such data shall be reported to the Congress by the Board from time to
time, with appropriate analyses and recommendations, and, so far as
practicable, shall be made available to the Federal Power Commission and
other Federal and State agencies which may be concerned with the
administration of legislation relating to the generation, transmission,
or distribution of electric energy and chemicals useful to agriculture.
It is declared to be the policy of this chapter that, in order, as soon
as practicable, to make the power projects self-supporting and self-
liquidating, the surplus power shall be sold at rates which, in the
opinion of the Board, when applied to the normal capacity of the
Authority's power facilities, will produce gross revenues in excess of
the cost of production of said power and in addition to the statement of
the cost of power at each power station as required by section 831h of
this title, the Board shall file with each annual report, a statement of
the total cost of all power generated by it at all power stations during
each year, the average cost of such power per kilowatt hour, the rates
at which sold, and to whom sold, and copies of all contracts for the
sale of power.
(May 18, 1933, ch. 32, Sec. 14, 48 Stat. 66; Aug. 31, 1935, ch. 836,
Sec. 8, 49 Stat. 1077.)
Amendments
1935--Act of Aug. 31, 1935, inserted provision requiring the Board
to report to Congress on the allocation of the value of the properties
turned over to the Board and paragraph requiring the Board to keep
complete accounts on the cost of generation, transmission and
distribution of electric energy and production of chemicals necessary to
national defense and useful to agriculture and to report to Congress the
total cost of all power generated by all power stations and authorized
the sale of surplus power.
Transfer of Functions
Federal Power Commission terminated and its functions, personnel,
property, funds, etc., transferred to Secretary of Energy (except for
certain functions transferred to Federal Energy Regulatory Commission)
by sections 7151(b), 7171(a), 7172(a), 7291, and 7293 of Title 42, The
Public Health and Welfare.
Section Referred to in Other Sections
This section is referred to in sections 460lll-49, 831ee of this
title.
