Yesterday was the 78th anniversary of the first electric generator go into full operation at Boulder Dam. EDN has the story:
Electricity from the dam’s powerhouse was originally sold pursuant to a 50-year contract, authorized by Congress in 1934, which ran from 1937 to 1987. In 1984, Congress passed a new statute which set power allocations from the dam from 1987 to 2017. In December 2011, President Barack Obama signed legislation extending the current contracts until 2067, after setting aside 5% of Hoover Dam’s power for sale to Native American tribes, electric cooperatives, and other entities. The new arrangement will begin in 2017.
The dam, now named “Hoover”, also stores water to grow alfalfa and other things.
Too bad the Feds continue to give power to special interests. It would be easy to auction power. (I estimated revenues would be $300mil/year higher)