Ex Post Financial Analysis of the Performance of the Hartwell Reservoir Project
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Some Federal multiple purpose water projects have performed more favorably in financial terms than forecast in initial plan formulation documents. This analysis evaluates the economic and financial performance of the Hartwell project by providing a preliminary estimate of the consumer surplus associated with selected project features. The base condition used for evaluation is the initial project benefit study. Project benefits were compared to actual project revenues over the first 30 years of operation, 1963 through 1992. In financial terms, hydropower and recreation benefits have significantly outperformed ex-ante estimates.