To manage the water level, a release was performed for the first time in the dam's history and it was spectacular. That was only 20+ years ago.
It is my understanding that the U.S. Bureau of Reclamation is having a very difficult time managing the water levels of Mead, Powell, Glen Canyon, and the upper Colorado. Not only due to drought but to the ever-increasing demand being placed on the system from development, agriculture, and inadequate conservation.
The potential inability to produce hydroelectric power is yet another wake-up call that things are changing fast.