BOARD00226

• Board Meeting Date: 4/1/1970
• Description: Agenda or Table of Contents, Minutes, Memos
• Board Meetings - Doc Type: Meeting

power capability with respect to what the
market is and what the demands are.

Moving over to the next page. under our
power marketing we have these amounts which
you see there. In the summer during the 1975- 1-
76 period we have the full capability under
contract and we still have a little in the
winter time left to sell but we would judge
that this winter market will pretty well materi-
alize by then.

The storage project power was all allocated
when the project was started. Because we have
reached the point of full marketing. we con-
tacted everybody and rescinded those allocations
that did not result in contracts.

Moving on over to the next page. the reve-
nues from the sale of power are now running at
the rate of $22 million annually. up to date
we have received about $82 million worth Of
revenue and we are now at the point this year -
this is another milestone - where we will have
paid all of the back interest, we will have
paid our current annual operation and maintenance
costs. and we will have a net to apply to the
repayment of the capital investment. So what I
am saying is. that in 1970 we will be in the
black and be retiring the Storage Project in-
debtedness.

As I have mentioned before. until we get
Crystal we will not have the full capability
of Morrow Point powerplant because we can't
peak with it. we can't bounce the gun to
deliver these diversions downstream. When
Crystal is in we will gain 60 megawatts there
and then we have some of the Utah plants coming
in so there will be more capacity and we can
rescind our private contracts. They can be
terminated and then that would go to our present
market.

I

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