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<br />The, future success, and possible 8urvival, of the principle of <br />reasonably-priced power to preference COnSumers, and power revenues <br />to repay water projects in the 5-state area depended upon, and still de- <br />pend upon, an intelligent selection and financing of a satisfactory trans- <br />mission plan. Which of these two, the Bureau's or the Utilities' plan, <br />should we support? Or neither? <br /> <br />, <br /> <br />Our studies and those of our consultants led us to the conclusion <br />an all-Bureau transmission system best suits the needs of preference <br />customers, more nearly accords with the :authorizing legislation for the <br />storage project, and provides more assurance that dollars will be self- <br />generated by the project to carry out this vast development. <br /> <br />By now I hope your curiosity is ar<;>used as to what part the stor- <br />age project transmission system--a vast project in itself to be sure of <br />some 176 million dollars - -but what vital part does it play, besides trans- <br />mitting power, in achieving the overall development of the upper reaches <br />of the Colorado River? <br /> <br />. <br /> <br />. <br /> <br />A chart of the 100 year requiremeitts for project power revenues <br />based on the Bureau's 1958 repayment dati'- Lllooks like this: <br /> <br />;1 <br />oj <br /> <br />CHAR T IV <br /> <br />The Bureau of Reclamation is required by law and project authori- <br />zation to develop a power rate which, through the sale of power, will re- <br />turn sufficient dollars to accomplish the tasks set out on this chart. In so <br />doing no taxpayer will, in the end, be required to subsidize any of your <br />water and power projects. <br /> <br />We believe that a 6 mill per kilowatt hour charge for power deliv- <br />ered at load centers throughout the life of;the project will generate the <br />dollars set out in this exhibit. The top hQrizontalline can then be thought <br />of as representing a uniform power sales ,rate throughout the period of the <br />study, and at the same time it represents total dollars generated year by <br />year through power sales at such a rate. <br /> <br />'! <br /> <br />Ll Project repayment data from the Bureau's Financial and Economic <br />Analysis Colorado River Storage Project and Participating Projects, <br />December 1958. <br /> <br />- 6 " <br /> <br />1 <br /> <br />I <br />