The HYDRO Act of 2024 directs the Western Area Power Administration to reduce electricity rates for customers of certain federal hydroelectric facilities in the West when drought conditions limit power generation. Specifically, rate reductions would be triggered when three major projects—the Salt Lake City Area Integrated Projects, the Boulder Canyon Project, and the Parker-Davis Project—fall below predetermined annual energy production thresholds due to prolonged drought. The bill affects electricity customers who purchase power from these Bureau of Reclamation facilities, primarily in the western United States. The rate reductions would be funded through existing appropriations to the Western Area Power Administration and cannot exceed unobligated balances associated with the affected projects. The bill's provisions would expire on December 31, 2031, and importantly, any rate reductions provided would not be recovered through higher rates in future years.