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<br />B. RGP Capacity Sales. For FY 1986 through FY 1989, RGP <br />capacity sales are assumed to occur only in the summer season and to <br />equal the total current firm CROD under the el<isting power contracts <br />of 24,000 kW. After FY 1989 the marketable firm capacity is projected <br />at 24,600 kW. <br /> <br />C. Power Revenues. The historical gross annual power revenues <br />reached a peak ln FY 1985 of $2,506,707, and in FY 1986 revenues are <br />estimated to increase to $2,798,020. Assuming the new power rate <br />becomes effective with the April 1987 billing period, the gross annual <br />revenues are estimated to be $3,193,984 in FY 1987, $2,893,984 in FY <br />1988, $2,593,984 in FY 1989, $2,301,721 in FY 1990, and are then held <br />constant at this level throughout the remaining years of the study. <br />Projected power revenues are from firm capacity and energy sales, <br />nonfirm energy sales, and small amounts of other revenues collected by <br />the Bureau of Reclamation (Reclamation). Historical power revenues <br />have included revenues from water delivery and transmission service; <br />however, with the sale of the transmission system in FY 1979, the sale <br />of the last substation in FY 1983, and a change in the method of <br />calculating irrigation O&M in FY 1984, no future revenues are <br />projected from these sources; The following is a discussion of the <br />revenue sources, and the annual dollar amounts from each source are <br />shown on Table 3. <br /> <br />1. Firm Energy and Capacity Sales. The estimated annual <br />firm energy sales for FY 1986 through FY 1989, are 61,200,000 kWh, and <br />FY 1990 and thereafter are 60,925,000 kWh. FY 1986 is projected at <br />the current rate of 15.425 mills/kWh, and FY 1987 and thereafter are <br />projected at 18.66 mi lls/kWh, the proposed new rate. Th~ estimated <br />annual capacity sales for FY 1986 and thereafter are 24,000 KW per <br />month for each month of the summer 'season. FY 1986 is projected at <br />the current rate of $6.545 per kW-month and FY 1987 and thereafter are <br />projected at $7.931 per kW-month, the proposed new rate. <br /> <br />2. Nonfirm El<cess Energy Sales. Since the ~lephant Butte <br />Reservoir is full, it is anticipated that the project wi 11 have annual <br />nonfirm el<cess energy sales as follows: Both FY 1986 and FY 1987 of <br />58,800,000 kWh, FY 1988 of 38,800,000, and in FY 1989, 18,800,000 @ 15 <br />mills per kWh. The present interchange settlement poliCY with CRSP <br />provides for CRSP to purchase the interchange energy from RGP at the <br />nonfirm rate of 22 mills/kWh or the average purchase price (15 mills <br />per kWh) paid by CRSP for the same period, whichever is less. Nonfirm <br />energy sales, by current contract, consist of the RGP's winter <br />generation, and any available excess energy in the summer season. <br />After FY 1989, it is assumed that all generation wi 11 be marketerl as <br />firm energy and no nonfirm el<cess energy sales are projected. <br /> <br />3. Water Delivery. Historically, this income was derived <br />from the sale of water to the irrigators and was used to partially <br />offset irrigation O&M through FY 1983 when th~ water users' <br /> <br />11 <br />