WSP03573 - Laserfiche WebLink

Home Browse Search

RATE OF REPA YM ENT DUring the 15-rnonth period from July 1, 1976. fa September 30. 1977, a Iota I 01 $1-". million was applied toward repayment of the Federal Investment In the Colorado River Storage Project and PartIcipating Projects Total repay- ment made to dale amounts to about $93 millJon. equaltQ 12 percent ollhe $770 million completed plant-in-servlce and'; percent of the S2':? billion prOjected lolal reimbursable Federal Investment In the authOrized storage units and participating prOJects. In addlllon 10 the amount applied to repayment, earned revenues have been sulflclenl 10 pay all operating costs, current interest and replace- ment costs Operation and maintenance of partIcipating prOjects have been turned over 10 waler conservancy districts which pay costs thereof from revenues assessed Nearly one- third of the prOjected Federal investment was In service as 01 the end 01 the fiscal year Sales of muniCipal and Industnal water produced 75 percent 01 the net revenues dUring fiscal year 1977 and the tranSition quar1er. Hall 01 these revenues came from water sales from Glen Canyon and NavajO UOlts and were applied toward repayment of the M&I Investment In the storage units The other hall resulted Irom munICipal and Induslrlal water sales from five partlcipatmg projects and were applied to repayment 01 the M&I Investment In the par1icipating proJeclS A quarter of a mllleon dollars received from the water users on nine of the participating projects has been applied to repayment of the Irrigation Investment In the participating prOjects For the 1S-month period, onJy 10 percent or the net revenues resulted Irom power sales ThiS was a decrease of about 99 percent In net power revenues from the $23 millIon received In fiscal year 1976 Those revenues. as shown In the 20th Annual RepOr1 of the CRSP, include net Income associated With exchange and delivery of nonprOJect energy associated with oil conservation. and amounted to some $23 million, whereas the 1976-1977 drought prevented 011 conservation actiVities and reqUired the purChase of high pnced energy to meet firm power and energy Obligations Outing fiscal year 1977, repayment contracts were executed With the Tn-County Water Conservancy Dlstnct for the Dallas Creek PrOject In Colorado and With the Dolores Water Conservancy Dlstnct for the Dolores Project In Colorado Separate contracts for muniCipal and Industrial water from the Lyman Project were executed With the towns of Lyman and Mountain View In Wyoming Contracts have been executed With 16 01 the 24 authofl.zed participating prOjects Fourteen of these prOjects are eIther constructed or under construction Of the remain 109 ten. two have not yet star1ed construction but have executed repayment contracts. three are nearing contract execution, one has been postponed indeflOltely, three are 10 the advance planning stage, and one IS an Indian prOject now under construction. In order to prOVide revenues suHlcient to pay annual operatlOg costs of the storage uMs. prOVide lor replacements. pay interest charges. repay costs of the storage units allocated to power, assIst in repayment of storage unit costs allocated to irrigation, pay speCIfied saltnlty costs. and to prOVide assistance 10 repaying the lrrtgation allocation 01 authoflzed partiCipating prOjects Within the time limits presCribed by law. II IS necessary to increase the CRSP power and energy selling rate It IS proposed to Increase the current rate about 43 percent beglOmng in fiscal year 1980. ThiS proposed rate would be about 56 percent above the anginal CRSP power rale which was In ellect pnor to Apnl 1974 These IOcreases are reflected 10 exhibit on IOslde back cover. The pnncipal reasons for the projecled IOcrease IOclude the 101latlonary rise In present and pro-- Jected power system operating costs, estimated higher costs to complete construction Or the authOrized storage units and partlclpatlOg pro-- ject faCIlities IncludlOg mitigation and environ- mental protection costs. the Increased cost of purchased energy reqUIred to fulfill contract commitments, the IOcrease 10 the estimated construchon and operating costs of four speCifiC authortzed Colorado River Saltnlty Control Projects (PL93-320. 88 Stat. 266), and the addition of wheellOg Charges for the flow of CRSP power over the transmission syslems of the Parker-DaVIS Project and the Pick-Sloan Missoun BaSIn Program PrOJections, uSlOg current estimates of CRSP costs. construction schedules and revenues Irom power sales (lOctudlOg the proposed rate IOcrease). muniCipal and industtlal water sales, payments by Irrigators. ad valorem ta)l;es, and miscellaneous revenues show that payment of the reimbursable costs of the authorized Colorado River Storage Project and Partlclpat. 109 Projects can be accompliShed within the authonzed repayment peflods. 33