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<br /> <br />3 <br /> <br /> <br />. <br /> <br />. <br /> <br />P.L. 84-485, we have adjusted the repayment study to the <br />original method. This reversion to the pre-1973 method <br />of handling revenues from the participating projects has <br />reduced the proposed power rate adjustment by 7.3 percent. <br /> <br />C. Unidentified Future Transmission Investments <br /> <br />The repayment study in the April 1979 brochure included <br />an estimated unidentified future transmission investment <br />of about $71 million in the 1981-84 period. P.L. 84-485 <br />authorized specific storage units, specific participating <br />projects, and transmission facilities related to the <br />foregoing, but did not specify any particular transmis- <br />sion facilities. In the 1958 repayment study and in all <br />repayment studies since then, an amount has been included <br />for unidentified transmission facilities. <br /> <br />While the customers' interpretation of P.L. 84-485 may have <br />some merit, there is nothing unreasonable about the inter- <br />pretation of the Secretary of the Interior which was made <br />contemporaneously with the enactment of P.L. 84-485. It <br />appears very clear that the Congress intended a certain <br />repayment policy and that the Secretary of the Interior's <br />contemporaneous interpretation of congressional intent <br />in the first repayment study should carry great weight. <br />Further, it would appear that the historic policy, followed <br />by Western in this rate adjustment is the most reasonable <br />interpretation of the law. <br /> <br />Western has restudied the matter and has decided that <br />the $71 million of unidentified transmission facilities <br />should be deferred from the 1981-84 period to the 1990-2020 <br />period, with approximately one-seventh of the cost being <br />placed in service every 5 years. The effect of this change <br />is to reduce the proposed power adjustment by about 3.4 <br />percent. <br /> <br />D. Summary <br /> <br />Following is a summary of the changes made in the new study <br />as compared to the April 1979 study: <br />