BPA establishes rates to be charged for power and transmission services in a rate proceeding, a formal evidentiary hearing process. Prior to the development of BPA's rates in a rate proceeding, BPA reviews its spending levels in public processes, the Integrated Program Review (IPR) and Capital Investment Review (CIR). BPA’s initial rate proposal is then prepared. Rates must be set so that BPA will be able to recover its total costs, including obligations to repay its debt to the Federal Treasury. BPA's initial rate proposal is then evaluated in a rate proceeding during which BPA staff presents its rate proposal to parties for review. At the conclusion of the rate proceeding, the Administrator issues a Final Record of Decision, which includes BPA's final rates. BPA then files its rates with the Federal Energy Regulatory Commission for confirmation and approval.