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RATE OF REPAYMENT-CRSP Revenues earned by the CASP from the sale at water and power and applied on repayment 01 the Federal investment in the project totaled approximately $13,8 million in Fiscal Year 1973 as shown in Exhibit D. This was the largest annual amount applied to date and represented one-third 01 the lotal amount applied on repayment since first service was available from the project. In addition to the amount ap- plied on repayment, the project earned revenue sufficient to pay all operation, maintenance, and interest Charges. About $13.3 million, or 96 percent, of the revenue used tor repayment came Irom the sale 01 electric power and was all applied on the power investment. As at the end 01 the year-the tenth year since power operations began-ap- proximately 8 percent and 5.5 percent, respectively, 01 the current and esti- mated ultimate power investments had been repaid. Total revenue from power 28 operations came to about $38 million during the year, The amount was larger than originally anticipated due to a court order which required extra re- leases of water from lake Powell to prevent reservoir water ffom entering the Rainbow Bridge National Monu- ment. The court order was in effect about two months. Approximately $400,000 01 revenue came from municipal and industrial water service provided Irom GRSP fesefvoirs. About $100,000 of this was applied to operation, maintenance, and interest charges and about $300,000 to repayment 01 the municipal and in- dustrial water investment. Through Fis- cal Year 1973 about $740,000 01 repay~ ment had come from municipal and in- dustrial water service. All has been applied to the municipal and industfial water investment which now totals about $49 million. The investment is projected to increase to about $315 million when all anticipated service is provided. Revenue from irrigation service came from seven participating proJects. The revenue, totaling approximately $234,- 000, was applied against the current $121 million participating project irri- gation investment. This investment is estimated to reach about $844 million when all authorized partiCipating pro- Jects are constructed. In addition to the participating projects irrigation in- vestment, approximately $1 00 million of the cost of the storage units has been allocated to irrigation. No repayment on this is scheduled to be made until the municipal and industrial water in~ vestment of the storage units has been repaid. The municipal and industrial water revenue, and later net power revenue, will then be applied to repay- ment of the storage units irrigation cost. Projections using current estimates 01 CRSP income, costs, and construction schedules show that adjustments will be required to assure that apportloned revenues will be available on time to meet future repayment reqUirements 01 the irrigation costs of variOuS partici- pating projects, Current GRSP repay- ment studies based on the new power selling rate, scheduled to go into effect April 1 , 1974, show that first apportion- ed revenues for participating projects will become available in Fiscal Year 2015, about three years later than was projected a year ago. This delay and attendant reduction in apportioned revenues postpone projected payout 01 some authorized participating projects beyond their allowable 50-year repay- ment period. It is impossible to pre- cisely project what adj.ustments may be reqUired in the future to remedy this situation since some adjustments will automatically result lor various reasons including changes in the cost and scheduling 01 the participating projects. Nevertheless. it is probable that further upward adjustment In the power selling rate will be necessary, especially il powef operation costs continue to in- crease