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Plate 1.- Proposed program of construction, Dec. 24, 1941

Completion date

Project

Beginning of construction

Closure

Power units in service Construction

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Norris Dam: 2 units, Clinch River.
Wheeler Dam:

2 units...
Units 3 and 4
Units 5 and 6.

Dredging
Pickwick Landing Dam:

2 units
Unit 3.
Unit 4
Unit 5.
Dredging (sec. 1).

Dredging (sec. 2)
Gunters ville Dam:

3 units.
Unit 4.

Dredging
Chickamauga Dam:

3 units
Unit 4.

Dredging
Hiwassee projects:
Hiwassee Dam:

1 unit, Hiwassee River.

Unit 2
Chatuge Dam; No units, Hi-

wassee River.
Noiteley Dam: Nounits, Not-

tely River.
Ocoee No. 3 dam: 1 unit, Ocoee

River.
Apalachia Dam: 2 units, Hi-

wassee River. Kentucky Dam: 5 units

Dec. 18, 1941 July 1, 1939

Aug. 1, Oct. 13, 1939, June 1, 1940

Jan. 17, 1940. Feb. 15, 1945

June 1, 1945 1 July

1, 1941 Mar. 4, May 2, July Jan. 1, 1941

15, 1940. Feb. 15, 1945

June 1, 1945
July 1, 1943

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Feb.

1, 1942

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Do.

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do.

Do.

July

1, 1938

July

Watts Bar Dam: 3 units.

May 1, 1939 Units 4 and 5

July 17, 1941 Dredging

1, 1942 Wilson Dam: Units 9 and 10.

May 1, 1940 Units 11 and 12

Aug. 1. 1940 Units 13 and 14.

July 17, 1941 Units 15 and 16.

Dec. 18, 1941 Dredging

July 1, 1943 Fort Loudoun Dam: 2 units

July 1, 1940 Units 3 and 4

Dec. 18, 1941 Dam extension, Little Tennes. July 1, 1942

see River.

Dredging
Hales Bar:
Leakage cut-off wall

Jan.

1, 1941 Raising dam.

July 1, 1942 Dredging

July 1, 1940 Watts Bar steam plant: 2 units.

Aug. 1. 1940 Unit C

Apr. 7, 1941 Unit D

Dec. 18, 1941 Cherokee Dam: 3 units, Holston Aug. 1, 1940

River. Fontana Dam: 3 units, Little Ten- Dec. 18, 1941

nessee River.
South Holston Dam, 2 units, South do..

Fork Holston River.
Watauga Dam: 2 units, Watauga do.

River
Sheffield steam plant: Unit 4.

do

do.....

Mar. 1, Apr. 15, 1943..

Jan.

1, 1944

Nov. 1, 1944

Feb. I, Feb. 15, Mar.

1, May 1, July 1,
1944.

Jan.

1, 1942

Feb. 1, Mar. 1, July 1,

1942.
Apr. 1, June 1, 1943..

Oct. 1, 1943
July 1, 1944

Feb. 1, Mar. 1, 1942.
Apr. 1, May 15, 1942
Jan. 1, Mar. 1, 1943
Dec. 15, 1944, Feb. ).

1945.

July 1, 1945

July 1, 1944

Mar. 1, 1943

Sept. 1, Nov. 1, 1943.
Aug. 1, Sept. 15, 1944.

Mar. 1, 1945
Mar. 1, 1944

Jan.

1, 1944

July 1, 1944

July 1, 1943
July 1, 1944
July 1, 1942

Feb. 1, Apr. 1, 1942.
Nov. 1, 1942
Jan. 1, 1944

July 1, 1944
Dec. 5, 1941 Apr. 1, June 1, Aug. 1, Jan.

1, 1943 1942. July 1, 1944 Jan. 1, Mar. 1, Apr. 1, July 1, 1945

1945. July 1, 1943 July 1, Sept. 1, 1944. Mar. 1, 1945

May 1, 1943

do.

do....

Jan. 1, 1945

July 1, 1945

i Storage project; no generating units at project.
NOTE.--Dams, unless otherwise indicated. are located on the Tennessee River.

Plate 2.-Navigation improvements on the Tennessee River, 1934–44, Sept. 30, 1941

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Below Kentucky Dam
Kentucky Dam to mile 192.
Mile 192 to Pickwick Landing Dam.
Pickwick Landing Dam to Florenee

Canal..
Florence Canal.
Wilson Dam to mile 273
Mile 273 to Wheeler Dam
Wheeler Dam to mile 332
Mile 332 to Guntersville Dam
Guntersville Dam to Widows Bar
Widows Bar to mile 415
Mile 415 to Hales Bar Dam
Hales Bar Dam to mile 460.
Mile 460 to Chattanooga
Chattanooga to Chickamauga Dam
Chickamauga Dam to mile 520..
Mile 520 to Watts Bar Dam
Watts Bar Dam to Clinch River.
Clinch River to mile 597
Mile 597 to Fort Loudoun Dam.
Fort Loudoun Dam to Knoxville

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Total.

647.7

1 Depths of 11 feet provide a 9-foot draft navigable channel, as authorized by the Tennessee Valley Author. ity Act, from Paducah to Knoxville. 2 Channel to be improved by dam construction. 3 Dredging underway or under contract. 4 Full depth by dam construction, full width by dredging. 5 Channel improvement by dam construction and by dredging.

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Table 3 presents the actual and estimated income and expense of navigation, flood-control, and power operations for the fiscal years 1941, 1942, and 1943. It will be noted that in 1491 power revenues met all expenses of this program, before depreciation, and left a surplus of $10,774,860, which was more than double the net expense of all the other operating expenses of the Authority. This program thus produced sufficient net cash income to meet all the operating expenses of the Authority, and in addition to reduce substantially the amount of appropriations required for investment in permanent assets. The estimates for 1913 indicate that in that year the surplus from this program, $19,892,000, will be nearly four times the net expense of all the other operating programs.

The estimated net surplus nearly doubles from 1942 to 1943.

Navigation and flood-control operations
Actual expense, fiscal year 1941.
Estimated expense, fiscal year 1942.
Estimated expense, fiscal year 1943.

$125, 806

149,000 152, 000

The estimate for 1943 for navigation and flood-control operations includes $110,000 for study and development of river transportation. These studies include engineering design of navigation channels and preparation of navigation charts for the Tennessee River, studies of potential terminal facilities and floating equipment, studies of common carriers on the river, and maintenance of navigation facilities. The increase in 1943 is accounted for by the necessity of preparing navigation charts on new reservoirs going into operation and by intensification of terminal studies in anticipation of the possible need of river-terminal facilities to expedite transportation of commodities essential to national defense.

The estimate for 1943 also includes $8,000 for furnishing power for operation of locks to the Corps of Engineers, United States Army, at the various dams owned by the Authority. The amount shown is that estimated to be required for operation of the Pickwick, Wilson, Wheeler, Guntersville, Hales Bar, Chickamauga, Watts Bar, and Fort Loudoun locks.

Proration of general and administrative expense is estimated at $34,000 for 1943. Power operations.

Table 3 shows that the estimated net income from power operations in 1943 is $21,244,000 as compared to an estimated net income for 1942 of $11,424,000 and an actual net income for 1941 of $11,868,648. The net income for 1941 was adequate to cover depreciation, the share of common expense charged to power operations, and a return on the investment in operating power facilities financed from appropriations of approximately 5 percent. The interest on bonds issued by the Authority is shown separately in table 3. The estimated return from the power program for 1942 will be slightly lower, due to the large allowance for a dry-year contingency, but the increase in net income of nearly 100 percent in 1943 will provide a substantially higher return in that year.

The number of individual customers now receiving Tennessee Valley Authority power is over 450,000. As shown by plates 3 and 4, power deliveries by the Authority have already exceeded the dependable power supply, and the expected demands of the area will exceed considerably all of the assured available energy from existing plants plus the assured energy to become available from the additional generating units now being installed or scheduled for installation in 1942 and 1943 plus the energy available from interconnecting systems.

In 1943, on the basis of presently authorized projects, the area served by the Authority will face a serious deficiency in power supply because of unprecedented requirements, of war production especially aluminum, ferrosilicon, and phosphorus. There is no way to meet this deficiency except by immediate authorization of the Douglas Dam and Reservoir on the French Broad River, recommended to Congress by the President on September 15, 1941, on the advice of the Office of Production Management, and by the Federal Power Commission, and the Tennessee Valley Authority, or by drastic curtailment of civilian and nondefense use of power in the entire Southeast. The two dams on the Watauga and South Fork of the Holston Rivers, authorized by Congress on December 15, 1941, for beginning construction in 1942, cannot be completed in time to meet the deficiencies in 1943.

Power operations-revenues Actual revenues, fiscal year 1941..

$21, 137, 371 Estimated revenues, fiscal year 1942

26, 155, 125 Estimated revenues, fiscal year 1943.

36, 938, 000 The estimated total revenues show an increase, based on the estimated total power available, of 74 percent in 1943 over 1941. It is estimated that sales of energy will exceed 9,200,000,000 kilowatt-hours in 1943 at an average rate of approximately 4 mills per kilowatt-hour. The estimated revenues from sales of energy to municipalities and cooperatives increase 30 percent in 1943 over 1941 and the estimated revenues from commercial and industrial customers increase by 153 percent, due to heavy power requirements of defense industries located in the Authority's service area.

Table 3.- Navigation, flood control, and power program-Income and expense

accounts

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PLATE 3. --Available system capacity and estimated peak demand, fiscal years 1941-45 [This plate shows the extent to which the installed generating capacity now in service and authorized

will be utilized in meeting the peak power demands under primary power contracts and for additional defense emergency power in excess of primary power contracts)

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July 1942

Watts Bar, hydro, 3.
August 1942

Cherokee, 3.
September 1942. Ocoee No. 3 Dam, closure.
October 1942
November 1942. Watts Bar, steam, 3.
December 1942. Apalachia Dam, closure
January 1943 Wilson, 13.
February 1943 Ocoee No. 3, 1

1, 474.0 1, 504.0 1. 504.0 1, 504.0 1, 564.0 1, 564.0 1. 589. 2 1, 616.2

1, 276 1, 350 1, 425 1, 450 1. 467 1,499 1, 480 1, 470

1, 206 1, 271 1, 306 1, 296 1, 312 1, 419 1, 396 1, 375

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See footnotes at end of table.

25. 2 27.0

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