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<br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />Figure 1-1 <br /> <br /> <br />PUMPED-STORAGE PROJECT <br /> <br />- <br /> <br />.-~--_.' . <br /> <br />-' . <br />. ------ <br /> <br />_._..~. .-" <br /> <br />'. '. "".~" - ~ <br /> <br />lower Reservoir <br /> <br />~ <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />General Approach <br /> <br />The general approach to this joint planning effort was to provide data and conduct <br />analyses that would be useful in formulating future water development and <br />hydropower projects such that the water and power entities share the benefits. The <br />study is rather unique in water development investigations in that it specifically <br />addresses the value of power from the utilities' viewpoint. It also employed a <br />generation system expansion model, the Electric Generation Expansion Analysis <br />System (EGEAS) program developed by the Electric Power Research Institute (EPRI), <br />Massachusetts Institute of Technology and Stone & Webster Engineering Corporation. <br />Appendix A contains a description of the model and its capabilities. The model was <br />needed to analyze the potential benefits of pumped storage because these facilities <br />have to be economically dispatched along with the other power sources. The model <br />also tracks the economy energy interchanges that take place between utility systems <br />and "computes scenarios. of the amount and type of capacity that may be needed in <br />the state in accordance with specific modeiing assumptions. <br /> <br />Revenue requirements were estimated for each individual utility system. These <br />revenue requirements (fixed costs associated with new generating units plus variable <br />E-3 <br />