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<br />3. Interest Rates. The interest rates to be applied to repayment <br />of power capital or replacement investments have been established for <br />the various projects or units by legislation, as follows. These rates <br />are also used in calculating interest during construction, which is <br />capitalized and then made a part of the investment to be repaid. <br /> <br />Curecanti Unit (CRSP) <br />Seedskadee Project <br />Glen Canyon Unit (CRSP) <br />Flaming Gorge Unit (CRSP) <br />Transmission Division <br />Bonneville Unit <br />(Central Utah Project) <br /> <br />2.632 2.875 3.222 <br />percent percent percent <br />xx <br />xx <br /> xx <br /> xx <br /> xx <br /> <br />xx <br /> <br />The interest expense each year is calculated by applying <br />above to the unpaid balance in electric plant at the end <br />year. Interest on new facilities begins at the time the <br />into commercial service. <br /> <br />the rates shown <br />of the previous <br />facilities go <br /> <br />4. CRSP Power Resources and Power Sales. Project capacity and <br />energy resources are dependent to a large extent on climatic conditions <br />which affect both the supply of project water and the use of project <br />water. Project power operations are subordinate to water operations. <br />Power production in excess of project use requirements for sale as <br />commercial power is scheduled within water use limitations. The amounts <br />of energy needed for project use limit the energy available for supply <br />of commercial load; however, the design of the project facilities <br />enables the powerplants to be used for system peaking service and thus <br />obtain the most valuable energy for part of the total system load <br />supply. <br /> <br />The significant factors involved in the repayment study in regard to <br />capacity and energy resources and power sales are discussed below. <br /> <br />a. Hydrological basis for estimating project generated energy. <br />For fiscal year 1975, actual generation data were used through April <br />1975 and estimates were made for May and June 1975. The hydrological <br />analysis used for projections of project generated energy after fiscal <br />year 1975 was based on runoff records for the Colorado River drainage <br />system above each of the reservoir sites for the period 1906 through <br />1972, modified to reflect depletions as of 1968. Using this record and <br />subtracting estimated depletions after 1968, thirteen 66-year sequences <br />of operation were run for each season (summer and winter) of future <br />years. In the first sequence, the water supply for the starting year <br />of 1976 was assumed to be equal to that of the year 1906 (except as <br /> <br />25 <br />