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Department of Energy: New Loan Guarantee Program Should Complete Activities Necessary for Effective and Accountable Program Management

机译:能源部:新的贷款担保计划应完成有效和负责任的计划管理所需的活动

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Title XVII of the Energy Policy Act of 2005 established DOE's loan guarantee program (LGP) for innovative energy projects that should decrease air pollutants or greenhouse gases and that have a reasonable prospect of repayment. For fiscal years 2008 and 2009, Congress authorized the use of borrower fees to pay the costs of loan guarantees through Title XVII's 'borrower pays' option, under which DOE will limit loan guarantees to $38.5 billion. Congress mandated that GAO review DOE's progress in implementing the LGP. GAO assessed DOE's progress in (1) issuing final regulations and (2) taking actions to help ensure that the program is managed effectively and to maintain accountability. GAO also assessed how inherent risks due to the nature of the LGP may affect DOE's ability to achieve intended program outcomes. GAO analyzed DOE's regulations, guidance, and program documents and files; reviewed Title XVII; and interviewed DOE officials. GAO suggests Congress consider limiting loan guarantee commit-ments DOE can make until it has put adequate controls in place. In this regard, GAO is recommending actions by DOE to help ensure that the LGP will be well managed. DOE disagreed with two recom-mendations, indicated it has largely accomplished four, and disagreed with the matter for congressional consideration. GAO reaffirms its recommendations and matter for congressional consideration.

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