Fair Market Value vs. Net Investmentby George K. Lagassa, Mainstream Associates, North Hampton, United States,
Abstract: Among the 300 some hydro stations coming up for relicensing in the 1990s, some of them will certainly be taken over by the federal government or by competing license applicants. Under prevailing interpretations of 'net investment value' contained in the Federal Power Act, it is entirely likely that companies who lose a hydro station this way will go substantially uncompensated. Professional appraisal techniques for determining 'fair market value' of property could produce substantially higher payments for lost hydro stations and may be a more appropriate standard for such applications.
Subject Headings: Power plants | Licensure and certification | Federal government | Investments | Hydro power | Hydrologic properties | Payment
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