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May 12, 2010

Chelan County PUD Commissioners received more bad budget news this week. At a Monday study session

Commissioners heard a quarterly financial update that indicates the PUD still faces another tough financial year.

Record low river flows in January and March have reduced the amount of water available to generate electric power

to sell on the open market. Add to that revenue this year from wholesale power sales is now about one-fourth of

what was forecast in the budget. The PUD budget is now projected to lose about $28 million dollars if conditions

don’t improve... Chief finance officer, John Janney said the PUD continues to provide highly reliable services.

There is also a light at the end of the tunnel. Janney noted that beyond 2012 the revenue side of the ledger

should improve. 2012 is the year that new longterm power contracts with Alcoa and Puget Sound Power kickin. A new

strategic plan is also being developed this year that is expected to put the PUD on a sustainable financial path

starting in 2012.

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