19 



others made some quite constructive proposals around the concept 

 of tiered rates and others. So, you had a larger spectrum of interest 

 than just Bonneville's utility customers represented. That being 

 said, it is true that by the nature of the rate case process only par- 

 ties to the rate case were allowed to be participants in those settle- 

 ment discussions. 



That concludes my opening remarks, Mr. Chairman. I think it 

 gives you a fair idea of where we are and our current financial cir- 

 cumstances. I would be happy to talk about that and talk about the 

 longer-term competitiveness of Bonneville, or answer any other 

 questions the committee may have. 



[Prepared statement of Mr. Hardy follows:] 



