Pacific Northwest Electric Power Planning and Conservation Act

Pacific Northwest Electric Power Planning and Conservation Act - Establishes the Pacific Northwest Electric Power Planning Council, to be composed of the Administrator of the Bonneville Power Administration and one representative each from Idaho, Oregon, Montana, and Washington, to direct the preparation of a regional electric power plan, and to adopt such plan within two years after the effective date of this Act. Requires the plan to be reviewed at least once every five years. Requires public hearings to be held concerning the plan in each member's State. Requires the plan to give first priority to the conservation of resources, second priority to renewable resources, third priority to generating resources utilizing waste heat and generating resources of high fuel conversion efficiency, and fourth priority to all other resources. Stipulates that all such resources must be cost effective and feasible. Requires the plan to: (1) set forth a general scheme for implementing conservation measures and developing resources to reduce or meet the Administrators obligations; and (2) include, among other things, model conservation standards, and areas for research and development. Authorizes the Administrator to impose additional charges, if recommended by the Council, on customers who have not implemented conservation measures comparable to those in the model standards.

Directs the Administrator to inform the Pacific Northwest public of major regional power issues and to insure widespread public involvement in the formulation of regional power policies.

Directs the Council to annually solicit recommendations from the region's State and Federal fisheries agencies and the appropriate Indian tribes which would aid in the preservation and enhancement of the fish resources of the Columbia River and its tributaries. Directs the Administrator to finance, from the Bonneville Power Administration Fund, fisheries research and development.

Directs the Administrator, when requested, to offer electric power to each requesting public body and cooperative entitled to preference under the Bonneville Project Act of 1937 and to each requesting investor owned utility purchasing power from the Administrator, either for resale or direct consumption, to meet its firm power load which is in excess of its firm power load in the previous year. Permits the Administrator to restrict obligations, subject to stated exceptions, for such loads if adequate resources are not available.

Authorizes the Administrator to sell electric power to Federal agencies in the region. Directs the Administrator, subject to certain stipulations, to purchase electric power from a Pacific Northwest utility if offered at the "average system cost" of resources then available to that utility and to offer, in exchange, to sell an equivalent amount of electric power to such utility for resale to that utility's residential users within the region. Directs the Administrator to determine the "average system cost," subject to review and approval by the Federal Energy Regulatory Commission, the basis of a methodology developed by the Council.

Authorizes the Administrator to sell electric power to direct service industrial customers which presently have contracts for the purchase of electric power from the Administrator, so long as such sale provides a portion of the reserves for firm power loads within the region.

Prohibits the Administrator from selling amounts of electric power, including reserves, to new direct service industrial customers or amounts of electric power above the amount already sold to existing direct service industrial customers unless the Council approves the sale, such sale is consistent with the plan, and certain additional requirements are met.

Directs the Administrator, to the maximum extent feasible, to implement all conservation measures determined to be consistent with the plan and if no plan is in effect the Administrator shall implement conservation measures which are feasible and consistent with this Act. Stipulates that no mandatory conservation requirements shall be set pursuant to this Act in the absence of a plan. Permits the Administrator, subject to certain conditions, to conduct demonstration projects to determine the feasibility of conservation measures and direct application renewable energy resources.

Directs the Administrator, when proposing to acquire any major resource to conduct a public hearing, and to give notice of the proposed action to the Council, to customers, and to the State in which the resource would be acquired. Directs the Administrator to submit the administrative record of any major resource acquisition decision to Congress along with other specified information. Establishes procedures to be followed when the Administrator wishes to acquire a resource or undertake a conservation measure which is inconsistent with the plan.

Authorizes the Administrator to acquire a resource for an experimental or demonstration project, other than a major resource, not meeting the criteria of this Act if it is a renewable resource and no utility or political subdivision is willing to construct such project at reasonable cost.

Establishes procedures to be followed for entering into agreements for resources the Administrator determines to be consistent with the plan.

Authorizes the Administrator to grant billing credits and provide services, subject to certain limitations, to a customer for such customer's independent conservation activities and for resources acquired by the customer which reduce the obligation of the Administrator to acquire resources.

Directs the Administrator, at the request of any customer within the Pacific Northwest, to: (1) acquire any electric power required by any customer to replace resources determined to serve firm load, or by a direct service industrial customer to replace electric power that is or may be curtailed or interrupted by the Administrator; and (2) dispose of any electric power that a customer proposes to sell within or without the region at rates and terms specified by such customer, if such sale is acceptable to the Administrator.

Directs the Administrator to establish rates for: (1) the sale and disposition of electric power and the transmission of non-Federal power; and (2) electric power sold to meet the general requirements of public body, cooperative, Federal agency, and utility customers. Sets forth guidelines to be followed in establishing such rates.

Amends the Federal Columbia River Transmission System Act to: (1) authorize the Administrator to make expenditures from the Bonneville Power Administration Fund for making such payments as are required under this Act; and (2) increase the aggregate principal amount of any bonds outstanding at one time, sold on behalf of the Bonneville Power Administration to assist in financing the system.

Amends the Act limiting the transfer of electric energy generated at Federal hydroelectric plants in the Pacific Northwest for use outside the Pacific Northwest to redefine the term "Pacific Northwest" to include the entire State of Idaho.

Authorizes the Administrator to enter into such contracts and agreements as necessary to carry out this Act.

Exempts, subject to certain stipulations, from the provisions of the Public Utility Holding Company Act any company which owns or operates facilities for the generation of electricity primarily for sale to the Administrator.

Sets forth various savings provisions and waivers of preemption.

Affirms the reservation of: (1) electric power for use in the State of Montana for the construction of Hungry Horse and Libby Dams and reservoirs; and (2) 50 percent of any electric power produced at Libby Reregulating Dam.