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7.A. - Page 48 <br /> 2.8 Projected Water Use <br /> Table W3 shows a 5-year projection of water use by customer class and tier, using the modified tiers <br /> recommended subsequently in this report. Projections are based on a) estimates of water sales in <br /> the current fiscal year, b) projected new water sales from growth, and c) projected small declines in <br /> future water sales, largely due to price elasticity (customer response of reducing demand due to an <br /> increase in prices). The projections account for higher levels of cutback from water use in higher <br /> rate tiers. While it is impossible to accurately predict water sales in future years, the projections <br /> provide a reasonable basis for rate-setting. <br /> B Water Utility Finances& Rates 21 <br /> W Water&Sewer Financial Plans&Rate Studies <br />