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<br />4C'!(l ) <br />wGlt(;Jf<.t1 <br /> <br />The Boise River pool is available for rental of storage water <br />from the three federal storage reservoirs in the Boise basin with <br />total capacity of about 1 MAF. This pool has not been very active <br />since it was created, largely due to a continuation of Idaho's 6- <br />year drought. In 1992, the prinicpal canals delivering irrigation <br />water from the Boise were shut off the first week in August. <br /> <br />The third pool involves federal storage reservoirs in the <br />Payette River basin with total capacity of about 1 MAF. Some lower <br />Payette canals have provided water for other users from their <br />contracted storage entitlements. There has also been about 100,000 <br />af made available for power and fish flow enhancement purposes the <br />last two years. Part of this has been un contracted storage space <br />held by the Bureau of Reclamation which was run through the rental <br />poo 1. <br /> <br />The price of water from these water banks is far below the <br />true market value. It varies from $2.70 to $6.50 per acre foot of <br />water which includes the administrative charge by the local water <br />district and a 10% surcharge be the Water Resource Board. Part of <br />the reason the price is so low is the desire of the U.S. Bureau of <br />Reclamation that the contract holders of storage in federal <br />reservoirs not be able to profiteer off water made available to <br />them at subsidized rates. The price reflects the contract price <br />for the water from the federal government. In 1992, because of the <br />extended drought period in the state, little water was offered to <br />the rental pools. Some have suggested that more could have been <br />made available for power and fish flow enhancement purposes if the <br />price was high enough to allow a farmer to make a decision to give <br />up the season's water supply and let his lands lie fallow. Prices <br />of $35 to $50 per acre foot have been suggested. This is probably <br />more nearly the true value of the water. <br /> <br />I note that the state of California has operated a water bank <br />the last two seasons. In 1991 the state purchased some 820,000 af <br />of water at $125 per af and resold water for $175 per acre foot. <br />This year the price has been lowered to around $50 per acre foot. <br /> <br />The informal operating pool on the Bear River is caused by the <br />unusual operations of the Utah Power and Light Co. (now, Pacific <br />Corp.). The company holds storage rights sufficient to divert the <br />entire flow of the Bear River into Bear Lake, the top 21 feet of <br />which operates as a reservoir. The federal decree allows the <br />Company to subsequently release the stored water from the lake <br />"...for the generation of electric power, and for such irrigation <br />or other beneficial purposes, recognized by law, as the plaintiff <br />may devote or dedicate said released stored waters, by use, sale, <br />rental, or otherwise." <br /> <br />For years, the Company has pumped and released water from Bear <br />Lake to meet contract commitments in Idaho and Utah. Historically, <br />it has released more than necessary to meet the contracts in order <br />to accommodate those who thought they were diverting natural flow <br />under an Idaho or Utah water right. With the drought period, it <br />