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RATE OF REPAYMENT -CRSP Revenues earned by the CASP from the sale 01 water and power and applied on repayment of the Federal investment in the project totaled approximately $13.8 million in Fiscal Year 1973 as shown in Exhibit D. This was the largest annual amount applied 10 dale and represented one-third at the total amount applied on repayment since first service was available from the project. tn addition to the amount ap- plied on repayment. the project earned revenue sul1icienl to pay all operatIon, maintenance. and interest charges. About $13.3 million. or 96 percent, of the revenue used lor repayment came from the sale of electric power and was all applied on the power investment. As 01 the end 01 the year-the tenth year since power operations began-ap. proximately 8 percent and 5.5 percent, respectively, 01 the current and esli. mated ultimate power investments had been repaid. Total revenue from power 28 operations came to about $38 million during the year. The amount was larger than originally anticipated due to a court order whIch reqUired extra re- leases ot water from Lake Powell to prevent reservoir water Irom entering the RainbOW Bridge National Monu- ment. The court order was in eHect about two months. Approximately $400,000 01 revenue came Irom municipal and industrial water service provided Irom CRSP reservoirs. About $100,000 of this was applied to operation, maintenance, and interest charges and about $300,000 to repayment of the municipal and in- dustrial water investment. Through Fis- cal Year 1973 about $740,000 of repay. ment had come Irom municipal and in. dust rial water service. All has been applied to the municipal and industrial water investment which now totals about $49 million. The investment is projected to increase to about $315 million when aU anticipated service IS provided. Revenue Irom Irrigation service came from seven partlcipatmg projects_ The revenue, totaling approximately $234,- 000. was applied against the current $121 million partlclpatmg project irri- gation mvestment. This investment is estimated to reach about $844 million when all authorized participating pro. lects are constructed. In addItion to the participating projects irrigallon in- vestment, approximately S 100 million 01 the cost of the storage units has been allocated to irrigation. No repayment on this is scheduled fa be made until the municipal and industrial water in- vestment of the storage units has been repaid. The municipal and industrial water revenue, and later net power revenue, will then be applied to repay- ment 01 the storage units irrigation cost ProJecttons using current estimates of CASP income. costs, and construction schedules shOw that adjustments will be required to assure that apportioned revenues will be available on time to meet future repayment requirements of the irrigation costs 01 various partici- patmg projects. Current CASP repay- ment studies based on the new power selling rate, scheduled to go into eltect April " 1974, show that first apportion- ed revenues for participating projects will become available in Fiscal Year 2015, about three years later than was prOjected a year ago. This delay and attendant reduction in apportioned revenues postpone prOjected payout 01 some authorized participating projects beyond their allowable 50-year repay- ment period. It is Impossible to pre- cisely project what ad}ustments may be required in the luture to remedy thiS Situation since some adjustments will automatically result for various reasons including changes in the cost and scheduling of the participating projects_ Nevertheless, it is probable thatlurther upward adjustment in the power selling rate will be necessary, espeCially II power operation costs continue to in- crease