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<br />the public comment forum is designed to afford an opportunity for depart- <br />mental officials to hear from interested persons. <br /> <br />,. <br /> <br />Proposed Decision on Rate Adjustment. Following these forums, the Sec- <br />retary will review the information and comments gathered in the course <br />of the proceedings described above and announce the proposed decision on <br />the rate adjustment about February 1976. An explanation of the principal <br />factors leading to the decisiDn will accDmpany the announcement. <br /> <br />Review Period. Interested persons will be given 30 days tD submit <br />comments in writing to the Secretary following the announcement of the <br />proposed decision. <br /> <br />Final Decision on Rate Adjustment. Following departmental review of the <br />record the Secretary will announce his final decision about May 1, 1976, <br />on the rate adjustment and the effective date of the adjusted rates. He <br />will issue an explanation of the principal reasons for any changes from <br />his previDusly proposed decision. The effective date shall not be less <br />than 60 days after the annDuncement of the final decision and in this <br />case is expected to be January 1977. <br /> <br />C. TENTATIVE POWER RATES <br /> <br />A power repayment study using the latest available data has been con- <br />ducted. This study shows that annual revenue requirements to achieve <br />paYDut of the project are greater than those determined in 1973 using <br />fiscal year 1972 data. Project annual expenses, including wheeling and <br />purchased power costs, for the study period are now estimated to be <br />approximately 20 percent greater than estimated for the same period in <br />the 1973 studies. In addition, the amount of power revenues required to <br />repay investment costs are no~ estimated to exceed the previous estimate <br />by over $100 million. <br /> <br />A rate increase is proposed which will produce revenues needed to pay <br />the operating costs and to repay within the allowable time periods the <br />investment costs which are required by law to be repaid from power <br />revenues. <br /> <br />Proposed Rates. Given below are the tentative rates which would become <br />effective in January 1977. These rates are based on a repayment study <br />using actual CDsts and revenues through fiscal year 1974. <br /> <br />Firm Power. <br /> <br />Demand: <br />Energy: <br /> <br />$1.34 per kilowatt per month (preViously $1.32) <br />3.4 mills per kilowatt-hour (previously 3.0) <br /> <br />3 <br />