Abstract
The Washington Public Power Supply System (WPPSS) is remembered as the largest bond default in the history of the USA. WPPSS was an ambitious program for the construction of multiple nuclear power plants to augment hydroelectric power and instead became known as the WPPSS (or “Woops”) debacle. WPPSS was started as a small municipal corporation in the mid-1950s to meet future electric power needs of the residential, industrial, and commercial sectors in the Northwest region of the United States. The WPPSS charter was to enable electric public utilities to combine their resources to build large power generation plants and benefit from economies of scale. WPPSS initially consisted of 17 utilities including Seattle City Light, Washington State’s largest public utility.
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