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<br /> <br />prevailing over the cost evaluat~on period (CEP) (the time, normally <br /> <br /> <br />5 years after the date of the PR~, during which future estimates of <br /> <br />costs and revenues may be modifi~d to reflect changing conditions <br /> <br /> <br />such as additions to the power system, inflation, etc.). <br /> <br />(2) All investments repayable from power revenues for: <br /> <br />(a) Existing facilities ,! <br />(b) Additional authoriz~d facilities for which the Congress <br /> <br />has appropriated funds for construction and which will be in service <br /> <br />within the S-year CEP, <br /> <br />(3) The estimated amount of iinvestment repaid and remaining to <br /> <br />be repaid each year. <br /> <br />In order to project the financial condition of Pick-Sloan under this <br /> <br />policy, the Upper Missouri Regio~'s fiscal year 1977 repayment study <br /> <br />should exclude the cost of any f~cilities that will not be in service <br /> <br />by September 30, 1982, and should not provide for the allocation of <br /> <br />costs of existing facilities to purposes based on any future develop- <br /> <br />mant beyond that date. Currently the repayment study projects power <br /> <br />revenues needed to. repay the ent~re Federal investment reimbursable <br />, <br /> <br />from power .revenues anticipated ~o exist under ultimate development <br /> <br />around the year 2078. <br /> <br />Much of this future Federal irrigation and power development <br /> <br />will not be made for many years. ]if at all, for a number of reasons <br /> <br />(perhaps including the economics ,of the units), <br /> <br />12 <br />