An interpretation is provided for the bahavior of long boom potential measurements taken on the spinning P78-2 (SCATHA) satellite at near geosynchronous altitudes. This study uses data taken during a quiet day, with the satellite in sunlight. The data show periodic variations with a maximum amplitude of 6 V. The theory explains why the variations correlate with sun direction but not well with the geomagnetic field. A current balance model, assuming a Maxwellian distribution of photoelectrons, is studied. The photoelectron temperature, the degrees of positive charging of the boom and of the satellite, and the ambient electron flux are calculated. Deviations from the model are discussed.