Exploring how a major water project could be funded through electric power revenue
This historical study analyzes the Kennett reservoir development as a case in financing a large water-and-power project. It weighs five different funding plans, from private ownership to state-led transmission and distribution, and examines the economics of power generation alongside water management goals.
The book frames the project around a 420-foot dam and a 2.94 million acre-foot reservoir, and it compares the economics of private versus state involvement. It uses technical estimates, discusses market absorption for the planned output, and explains how transmission to northern California load centers would work. The analysis highlights practical considerations, such as tax treatment, debt amortization, and the costs of transmission and distribution.
- Five financing scenarios, including private and state-led models, with emphasis on risk, costs, and long-term returns.
- Estimates of power production, possible annual outputs, and the evolving California electricity market of the 1920s.
- Transmission planning to reach major load centers and the economics of wholesale versus retail power sales.
- Discussion of contingencies, depreciation, and the impact of taxes on financing plans.
Ideal for readers interested in the intersection of water resources, energy policy, and public works from a historical perspective, especially those curious about how infrastructure projects were financed in the early 20th century.