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<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 />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />when pumped storage is introduced to the system since pumped storage tends to <br />replace peaking type resources and delay the construction of base load units. <br /> <br />The base case expansion studies showed that new capacity will be needed in <br />. Colorado by 2001 or perhaps earlier. The exact year would depend on a number of <br />variables including transmission line capability, growth of QFs, potentials in demand- <br />side alternatives, load growth, and the ability of one utility to successfully sell or <br />purchase power from another utility in the state. <br /> <br />Exhibit 1 in the Exhibit section of the report presents the revenue requirements on a <br />statewide basis. Variable costs (fuel and variable O&M), fixed costs (capital costs and <br />fixed O&M), and total costs are shown for each year of the twenty-year period (1988 <br />through 2007). To complete the 50-year period of analysis(1), the levelized amounts <br />for the period 2008-2037 are also shown. The relative magnitude of the annual <br />system costs and the relative weights of the two components of fixed and variable <br />costs is interesting, because it reflects the importance of future fuel costs. The <br />relationships between fixed and variable costs changes from 1 to 1 in 1987 to 3 to 1 in <br />2007. <br /> <br />In Chapter 6.0, the results of the base case runs were reoptimized including the <br />generic pumped storage unit or units. The break-even point between the avoided <br />thermal costs and the cost of pumped storage is reported for the entire state. <br /> <br />(1) For all extension period studies using EGEAS, when a plant retires during an extension period IT is <br />replaced by a similar plant at the same cost, size, and other characteristics. <br /> <br />3-4 <br />