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The power authority report shows that this propaganda is based on incorrect figures. It finds that the group of major Government waterpower projects, which served as the basis for the propaganda, will actually deliver electric power to markets, involving 200 miles transmission, for a corrected average of approximately 3.3 mills, as compared with a corrected steam power cost of from 5.6 mills to 6.3 mills, depending upon the cost of fuel in the areas served.
The report, by establishing a technically sound method of appraising the economy of contemplated Government hydro undertakings, reveals the certainty that hydroelectric projects will prove economically sound as integral parts of the Government river basin conservation program. Respectfully,
FRANK P. WALSH, Chairman.
TABLE OF CONTENTS
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Introduction: Development of misleading propaganda.---
Correction of false premises shows Government hydro
cheaper than steam.
Steam generating costs on network basis-
Boulder Dam development.
Public hydro investment limits derived from cost of alter
native private steam generation.
of dependable capacity---
Correlated hydro projects for system power supply
Hydro systems have lowest rates..
Lower fixed charges make possible wider use of resources.
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Appendix I. Modern steam-generating costs
Current steam-station design.
compared with cost of equivalent steam power..
Appendix II. Cost of power from major Government hydro projects