PORTLAND — The Bonneville Power Administration, which markets and sells electricity generated by 31 federally owned and operated dams in the Pacific Northwest, is not going to increase power rates in 2024 and 2025, according to a BPA press release.

According to the press release, the BPA does not need to raise rates for the next two years because of the organization’s strong financial performance in fiscal year 2022, which ended on Sept. 30.

“This is one of those bountiful years where all the elements and timing came together is such a manner that we can consider staving off inflation for another two years by keeping rates flat for our power and transmission customers,” said BPA Administrator John Hairston in the press release.

The BPA provides wholesale electricity to utilities in Washington, Idaho and Oregon as well as parts of California, Nevada, Utah, Wyoming and Montana. The agency, which is part of the U.S. Department of Energy, is a nonprofit entity and is allowed to charge rates that cover power generation, maintenance and upkeep, the press release said. The agency sets power rates for commercial customers in two-year increments, with the current rate cycle scheduled to last through fiscal year 2023, which ends on Sept. 30, 2023.