Lincoln County Power District No. 1?will be receiving hydroelectric power?from Hoover Dam until the year 2067.?Based on a new 50-year contract signed?at the power district board meeting this?week, ?We?re going to be in pretty good?shape,? said general manager Dave?Luttrell. ?Our board approved both of?the contracts that related to that at our?meeting. The current contract expires?on Sept. 30, 2017.?
Luttrell said they have been working?on developing a new contract for the past?year from the Boulder Canyon Project?with the Colorado River Commission of?Nevada. ?It?s a process and takes time to?work out all the details and administrative aspects,? he said, ?and nice to have it?all completed and approved today.?
The state of Nevada Power Commission will approve the contract at their?meeting in June.
No rate hikes are expected based on?the contract itself.