107 



no different than has been proposed by the Reagan and Bush ad- 

 ministrations prior to the current one as you are well aware. 



Two, some form of debt buyout of the existing debt is intriguing 

 if two conditions are met. First, rate neutrality; and second, we 

 must have a long-term solution, not simply a year-to-year solution. 



Three, the idea of a government corporation is also intriguing, 

 particularly one to help reduce the DOE and 0MB regulations that 

 Bonneville faces and to provide Bonneville with greater control 

 over its personnel decisions. But, I would urge that it avoid the 

 issue of governance of the agency. I believe the issue does warrant 

 further study, and we are pursuing that course. 



In summary, Bonneville competitiveness is not simply a question. 

 It is an issue of survival — an issue of survival for Bonneville as an 

 agency an issue of survival of the ideals upon which Bonneville was 

 founded, and an issue of survival for the public utilities that de- 

 pend upon Bonneville for service. 



Thank you for the opportunity to testify. 



Mr. DeFazio. Thank you. 



And Mr. Myers, I understand that you made a particular sac- 

 rifice to be here today. You had some football tickets, and we ap- 

 preciate the fact that you chose to come and give testimony and 

 help support our efforts here. It probably would not have been a 

 good game anyway. 



Mr. Myers. Well, that is right. If the schedule had prevailed that 

 was set up 3 or 4 years ago, we would have had the University of 

 Miami playing instead of East Carolina and that might have been 

 a little tougher decision. [Laughter.] 



Mr. DeFazio. You clearly would have had somebody else here. 

 [Laughter.] 



[Prepared statement of Mr. Drummond follows:] 



