There are three sizable hydroelectric generating plants upstream of the Shihkang Dam, which has the secondary functions of providing public water supply and a recreation area for tourists.
石岡水壩是大甲溪流域綜合開發計畫中的下游水庫，可以調節尖峰發電的尾水與河流水資源，以供大甲溪下游台中地區的灌溉與工業的公共用水之需，並能承上啟下發揮多重的經濟效益。