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<br />. 071~':l"'~ <br />U'-'l...il.J <br /> <br />I. THE ULTIMATE DEVELOPMENT CONCEPT <br /> <br />The term "ultimate development concept" is frequently used in the electric <br /> <br /> <br />utility and water resources fields. It is most often used in conjunction with electric <br /> <br /> <br />power rate-setting studies conducted by power marketing administrations (PMA's) of <br /> <br />the U.S. Department of Energy. PMA's market electric power generated at federal <br /> <br />water reservoir projects built principally by the U.S. Army Corps of Engineers and <br /> <br />the Interior Department's Bureau of Reclamation. <br /> <br />Simply put, the term "ultimate development concept" refers to the total or <br /> <br />ultimate development of a major, multi-purpose water resources project authorized by <br /> <br />the U.S. Congress. One such project, authorized in the Flood Control Act of 1944, is <br /> <br />the Pick-Sloan Missouri River Basin Program. Thus, in conjunction with the Pick- <br /> <br />Sloan Program, the term "ultimate development concept" refers to the entire <br /> <br />basinwide project as congressionally authorized and subsequently amended, containing <br /> <br />literally scores of components -- dams, irrigation "units," flood control works, <br /> <br />navigation improvements, hydroelectric generating plants, recreation areas, and various <br /> <br />other features. <br /> <br />To understand the context in which the term "ultimate development concept" is <br /> <br />used, it is necessary to understand the repayment principles involved in some types of <br /> <br />federal water development projects. Former Interior Department Solicitor Edward <br /> <br />Weinberg summarized these principles at a 1983 National Water Resources Association <br /> <br />Federal Water Seminar. He stated: <br /> <br />-1- <br />