
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 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.
