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<br />In apportioning power revenues to Wyoming from the Seedskadee Project <br />powerplant and to Utah from the Central Utah Project powerplants, it has <br />been assumed that no such revenues will be apportioned to Wyoming from the <br />Seedskadee plant until 2019 and to Utah from the Central Utah plants until <br />2039, the 51st year after the in-service date of the powerplants, respectively, <br />on the premise that the aforementioned power features would on their own <br />achieve repayment in 50 years." <br /> <br />Under this method, the revenue resulting from Seedskadee and Central Utah <br /> <br /> <br />Project (CUP), power sales and credited to Wyoming and Utah during the <br /> <br /> <br />repayment period would amount to $10.2 million and $32.2 million, respectively. <br /> <br />This brochure further pointed out the following: <br /> <br />"The stairsteps on the graphs show the assistance needed by each state if <br />considered alone and the assistance needed based on the formula in Public <br />Law 84-4-85. As will be noted...the controlling factor at the critical point <br />(fiscal year 2052) is the amount needed by the State of Utah. In order for a <br />participating project in any state to receive the assistance needed there must <br />be a sufficient amount in the Basin Fund for all states to receive the <br />percentages of the total specified in the Law. Meeting such requirements for <br />a particular state will provide funds to the other states in excess of their <br />needs based on the required assistance to presently authorized participating <br />projects in those states." <br /> <br />In September 1979, the thinking on apportioning revenues and repayment power <br />investment cost of participating projects was changed. This change was explained <br />as follows: <br /> <br />"B. Application of CUP and Seedskadee Power Revenues <br /> <br />The repayment study in the April 1979 brochure was based on application <br />of above revenues to Utah after 2038 and to Wyoming after 2018-5Q <br />years after CUP and Seedskadee power in-service dates, respectively. In <br />comparing the early repayment studies with current studies, one incon- <br />sistency was discovered. It appears that an unexplained change was <br />made in 1973 regarding retention of excess revenues from certain partici- <br />pating projects within the States. Section 5(e) of P.L. 84--4-85 states <br />power revenues from a participating project should be applied to <br />repayment of projects within the State and not be diverted into the Basin <br />Fund to meet other States' requirements. Due to the express language in <br />P.L. 84-4-85, we have adjusted the repayment study to the original <br />method. This reversion to the pre-1973 method of handling revenues <br />from the participating projects has reduced the proposed power rate <br />adjustment by 7.3 percent." <br /> <br />18 <br />