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<br />confirmed by. long-standing administrative <br />practi ceo <br /> <br />The basic prpvision in the Reclamation laws <br />pertaining t,o power rates is section 9(c) of <br />the Reclama~ion Project Act of 1939 (43 <br />U.S.C., sec~i on 485h( c) ). It provi des that <br /> <br />, <br />power from ~eclamation projects shall be sold <br />by the Secr~tary "at such rates as in his <br />judgment will produce power revenues at least <br />sufficient to cover an appropriate share of <br />the annual $peration and maintenance cost, <br />interest on!an appropriate share of the <br />construction investment at not less than 3 <br /> <br />percentum PElr annum, and such other fixed <br /> <br />charges as the Secretary deems proper." In <br />,- <br />:' ---" <br />effect, Sec~ion 9(c) spells out the "sound <br />, <br /> <br />business pr~nciples" that are applicable. <br />Although those principles are stated in terms <br />of the mi nimum charge for power, they are <br />also clearliy intended to set the maximum <br />i <br />charge. T~e Government of the United States <br />markets power to serve the public interest, <br />not to makE! a profit. We believe that the <br />public interest is best served by marketing <br />i <br />power at t~e lowest rate consistent with the <br /> <br />: 42 <br /> <br />