with the current schedule for capacity additions, the

percent reserve would be as shown in the third column under Summer and Winter of the table.

Lead times for the construction of new power supply facilities are long, contrasted with the lead times involved in customer decisions and the reflection of such decisions into demands for electricity. In the past, construction lead times were such that utilities could respond without too great a time lag to increases in power demand. Today, lead times are so much longer that near-term advancement in the operating date to meet increased power demands is exceedingly difficult, if not impossible.

EXHIBITS

Exhibits A and B, which follow, summarize graphically for summer and winter conditions, the comparison of the 1974 and 1975 projections of loads, generating additions, and reserves. These exhibits vividly depict the erosion of reserves should

loads return to or approach the level projected in 1974.