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

accounts

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Navigation and flood-control operations:

Study and development of river transportation.
Expense of operating locks (Authority's portion)
Flood-control studies
General and administrative expense proration..

Total expense, navigation and flood-control operations-
Power operations:
Revenue:
Power sales:
Outside sales:

Municipalities and cooperatives
Electric utilities
Commercial and industrial..
Rural (retail).

Total outside sales.
Interdepartmental sales.

Total power sales
Rents and other electric revenue:

Outside sources
Interdepartmental.

Total rents and other electric revenue..

Total revenue
Direct expense:

Production
Transmission.
Distribution
Payments to States and counties
Customers' accounting.
Sales promotion
Undistributed power expense.
General and administrative expense proration.

Total direct expense.
Allowance for unrealized revenues and increased produc-

tion expense in event of a dry year..
Interest income from obligations of municipalities and

cooperatives
Interest expense on bonds outstanding-

Net interest expense.

Net income from power operations...
Expense common to navigation, flood control, and power:

Malaria prevention...
Policing of grounds and service to visitors.
Operation of dams and reservoirs
Upkeep of roads and grounds.
Maintenance of structures and equipment.
System expense proration..
General and administrative expense proration

Total common expense..
Net total income for the navigation, flood-control, and

power program.

392,000 178,000 35,000 34.000 57,000 299,000

205,000 1,200,000

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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[graphic]

kee, 1; Wilson, ií.
Pickwick Landing, 3; Wilson,

12.
Pickwick Landing, 4; Cher-

okee, 2; Memphis steam
reduction.

115.2

61.2

1,161

1,065

1, 397.0
1, 444.0

47.0

1, 180

1, 075

FISCAL YEAR 1943

30.0
30.0

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.

See footnotes at end of table.

60.0

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

25. 2 27.0

PLATE 3.--- Available system capacity and estimated peak demand, fiscal years

1941-45Continued

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The "Installed capacity” shown on this plate is the rated capacity of the generating equipment.
The "Total peak demand" includes primary, secondary, and other power.

The "Peak demand for primary power" is the primary power required during hour of maximum use for each month.

The estimated "Total peak demand," beginning with the calendar year 1943, includes a gradually increasing allowance for defense plants, as yet unspecified, which are expected to be located in this area. The estimate of "Peak demand for primary power” is not

extended beyond June 1943 due to the difficulty of predicting that part of the "Total peak demand" to be covered by firm contracts.

The apparent excess of installed capacity over the total peak demand is due primarily to the necessary out age of capacity at tributary projects during the filling season and at main river projects during periods of low head; also is for operating reserve, for relieving steam stations of peak load, for interchange operations with neighboring utility systems, and for further emergency power requirements.

This plate depicts the authorized system including the third supplementary power program.

PLATE 4.- Available system power and estimated power requirements fiscal years

1941-45 [This plate shows the extent to which the primary energy available from generating plants now in service and authorized will be required by the Authority's obligations for the delivery of primary energy and by additional defense requirements in excess of primary power contracts!

(For system as of June 30, 1940, refer to plate 3]
(Average monthly power in thousands of kilowatts)

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1,087
1, 087
1, 119
1, 119
1, 121
1, 154

1, 340
1, 360
1, 370
1, 380
1, 390
1, 400

August 1943.
September 1943. Fort Loudoun, 1.
October 1943
November 1943. Fort Loudoun. 2.
December 1943 Partial Watauga and S. Hol.

2 33

63*

ston, storage. January 1944.. Kentucky Dam, closure; Fort

Loudoun extension, closure;

Watts Bar, steam, 4.
February 1944. Kentucky, 1; Kentucky, 2.
March 1944 Kentucky, 3.
April 1914..

See footnote at end of table.

1, 217

1. 400

64
32

1, 281
1, 313
1, 313

1, 400 1, 400 1, 410

PLATE 4.- Available system power and estimated power requirements fiscal years

1941-45-Continued

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1 The additional primary energy shown is available on the assumption that there will be sufficient surplus flow, from this date to the beginning of operation, to maintain the rate shown.

The primary power requirements shown are the estimated primary power requirements under existing and proposed contracts.

The estimate of total system requirements, heginning with the calendar year 1943, includes a gradually increasing allowance for defense industry plants, as yet unspecified, which are expected to be located in this area.

Estimates of primary power requirements are not extended beyond June 1943, due to the difficulty of predicting that part of total system requirements to be covered by firm contracts.

The difference between the total system requirements and the available primary power will be supplied as far as possible from surplus, purchased. and interchange energy.

Power operations--Expenses Actual expense, fiscal vear 1941.

$9, 268, 723 Estimated expense, fiscal year 1942

14, 731, 125 Estimated expense, fiscal year 1943.

15, 694, 000 The estimates for both revenues and direct expenses for 1942 and 1943 are based on assumption of average rainfall and average stream-flow conditions. In order to guard against a dry year, table 3 includes an allowance for unrealized revenues and increased production expense of $2,000,000 in 1942, and an allowance of the same amount for 1943. If a dry year should be experienced, the revenues would decline because of curtailment of secondary energy and production expenses would increase because of the necessity of more extensive purchases of energy from interconnecting systems and the necessity of more intensive utilization of the less efficient marginal fuel plants to supply primary power requirements. This allowance is intended to compensate for these uncertainties. If 1942 should not be a dry year, any unused portion of this allowance should be carried forward in 1943, because of more serious effects due to the heavier loads in 1943 should that year be seriously dry.

The expenses for 1943 exceed those for 1942 by $963,000, of which $285.000 is accounted for by increases in interest on bonds and in payments to States and counties in lieu of taxes. For 1941, payments to States and counties were $1,499,394 under the amendment to section 13 of the Tennessee Valley Authority Act passed in 1940. For 1942 this item is estimated at $1,880,000, increasing in 1943 to $2,040,000 despite the fact that the percentages stipulated in sestine 13 change from 9 in 1942 to 8 in 1943. Interest expense on bonds increases from $484,602 in 1941 to $1,370,000 in 1942 and to $1,495,000 in 1943 as it is contes plated that the bonds now held by the Treasury Department may be placed on the market in the near future.

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