BVY-92-132, Forwards Annual Cashflow Statements for Vermont Yankee & Each of Vermont Yankee'S Sponsor Companies for Year 1992

Forwards Annual Cashflow Statements for Vermont Yankee & Each of Vermont Yankee'S Sponsor Companies for Year 1992

ML20127P142
Person / Time
Site:	Vermont Yankee
Issue date:	11/24/1992
From:	Oconnor J VERMONT YANKEE NUCLEAR POWER CORP.
To:	NRC OFFICE OF INFORMATION RESOURCES MANAGEMENT (IRM)
References
BVY-92-132, NUDOCS 9212020094
Download: ML20127P142 (3)

Text

-. . . . - . . - . .

x is VEitMONT YANKEE

. NUCLEAR POWER CORPORATION rerry Road, Brattleboro, VT 05301-7002

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November 24,1992 BVY-92-132 (802) 257 52h United States Nuclear Regulatory Commission ATTN: Document Control Desk Washington, DC 20555

References:

(a) License No DPR-28 (Docket No. 50-271) 0010CFR, Section 140.21 Subjxt: Vermont Yankee 10CFR 140.21 Submittal:

Licensee Guarantees of Payment of Deferred Premiums

Dear Sir / Madam:

In accordance with the requirements of 10CFR 140.21(c); enclosed herewith are the annual cashflow statements for Vermont Yankee and each af v'ermont Yankee's nine sponsor companies for the year 1992. This information is submitted as evidence that Vermont Yankee maintains an approved guarantee of payment should a $10 million retrospective prenaum be assessed under the Price-Anderson Act. ,

Under the Power Contracts between Vermont Yankee and its nine sponsor companies, Vermont Yankee would bill retrospective premium assessments to its sponsors as part of the monthly Power Contract Billing. As such, the " Cost of Purchased Power" as expressed in the enclosed specsor financial information has been adjusted to reflect the effect of including the maximum annual retrospective premium obligation for each sponsor company. Purchased power costs are paid for by our nine sponsor companies out of opentlirtg revenues rather than net income or sponsor financing and, as such, we suggest that each sponsor shown on the enclosed table has operating revenues which are more than adequa'e to pay all purchased power costs including the pro-rated minimum premium assessment.

Should you have any questions or require further information regarding this matter, please contact this office.

L Very truly yours, VermonLYenkee Nuclear Power Corporation a

J -hn P. O'Connor entroller and Secretary Enclosure cc: USNRC Region I Administrator USNRC Resident Inspector - VYNPC USNRC Project Manager 9212020094 921124 1 .A '

DR ADOCK 0500 1

4-VERMONT YANKEE NUCLEAR POWER CORPORATION 1992 ESTIMATED CASIIFLOW (dollars in 000's)

Sept 30 Dec 31 TOTAL Cash 00w from Operatine Activities: (9 moisetual) (3 moc-estimate) (12ms)

Net incorne 6,675 2,046 8,721 Depreciation and Amortization 9,927 3,357 13,284 Fuel Amortization . 12,772 -5,836 18,608-Decommissioning Expense 7,991 2,667 10,658 Nuclear Fuel Disposal Fee Interest 2,259 543 2,802 Disposal Fee Defeasance Fund Earnings (1,090) _(375) (1,465)

Income Tax Deferred & ITC (1,521) (1,074) (2,595)

Interest and Taxes Payable (785) (262) (1,047)

Other Sources /Uses (6,335) (2,112) (8,447)

Pro-Forma Power Cost Assessment Under Power Contracts for Retrospective Premiums Payable by Sponsors per 10 CFR, Section 140.21 0 10,000 10,00_0 Sub-Total from Operating Activities 29,893 20,627 50,520 Cash Flows from investing Activities; Electric Plant Additions (incid removal costs) (7,927) (3,615) (11,542)

Nuclear Fuel Additions (1,665) - (416) (2,081)

Payments to Decommissioning Fund (7,947) (2,667) (10,614)

Payments to DOE Defeasance Fund (5,190) 0 (5,190)

Other (59) 0 (59)

Pro-Forma Retrospective Premium 0 (10,000) (10,000)

Sub-Total from Investing Activities (22,788) (16,698) (39,486)

Cashnow from External Financine:

Payments of Long-Term Obligations (92,984) (13,000) (105,984)

Borrowing under Long-Term Agreements 86,653 13,000 99,653 =

Changes in Short-Term Borrowing 620 0 620 Common Stock Dividends Paid (5,864) (2,045) (7,909)

Other Financing Costs (546) 0 (546)

Sub-Total from Financing Activities (1-2,1? !) (2,045) (14,166)

Net Change in Cash & Equivalents (5,016) 1,883 (3,133)

I hereby certify that I am Controller and Secretary of Vermont Yankee Nuclear Power Corporation and that this statement fairly represents the estimated cashflow of the Company for the period ended 12/31/92.

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( o m l J6h/ P. O'Connor l /C6ntroller and Secretary

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v' . e s . na. c . e u.

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VERMONT YANKEE NUCLEAR POWER CORPORATION 199'2 OPERATIONAL AND CASH FLOW - VERMONT YANKEE SPONSORS (ADJUSTER)

(DOLLARS IN THOUSANDS) -

asnAL VT GRFIN NEW UPN NECTK1T CENTDAL PtDLIC $DV1CE WESTu 4 MONTAUF . CAMBR!ly'E PUBLIC $Ek VIN MOUNTAIN ENGLA% D LIGHT A PORTR MAINE POWER W OFNEW MA$$ F1ECTRIC EI,5CTRIC .

'N* POR A110N PO%T R CT* P. P'MTJ NMPANY fr,M*AW 0)MPANT ,HA MPsitiF E flifTRPc ul. U NPANY ;f.pGHTrv4PANY OPI R ATIONAL IN FC9 4ATM)N oParnNo RmNtts 267,110 144,049 1,503,000 881,602 353,120 106,729 '

. oPERAnNo ExPENsts OPERA 110N5:

Cosi oF PURCHASED POwTR

• 144,547 71,795 531,710 88.889 128,262 60,220 onta cPtRAnoNs 99,043 26,294 437,000 184,544 139,824 34,414 rtu 0 0 0 403,845 0 0' OTHu orER AnNG FN PENSES GMAINT. TAXES. DEME o 0 32.436 376,000 101,255 44,159 9,082 TMAL OPERAnNG EXPLNSE3 243,590 130,525 1.M4,710 778,533 312,245 _ 103,716_ j OTHER LNCOVE AND DEDUCnONS GNCINTDETT EXPDso - (7,035) (3,630) (47,000) (43,G*5) (18,933) - (3,912)

NET INCOME 16,485 9,594 111,290 60,024 21.942 (5W) j INnn At rnDs iNroR unItoN .

NET INCOME 16,485 9,894 111,290 192,212 60.024 40,177 44,931 21,942 (899)

I DEPRECIAT10N AND AMORTIZAT10N 14,196 8.061 130,000 291.650 40,300 141,019 60,400 24,311 3,654 DEFERRED fNNME T AXE 3 AND itC- NET I,999 3,081 0 36,940 14.267 23,328 3.741 3,227 250 A1MwANCE FOR FUND 5 tJSED DURING CD%ETR UC110N (279) (470) (5,000) (9.509) (2,613) 6 99) (2,084) (862) (161) toutr D RtTt,tN AssoaATED WiMaisToNE s PH AsE IN (48,230) (3.156)

DivDtN Ds (17,794) (9.858, (102.000) (200,807) (54,758) (13.249) (37,850) (19,776) (401)- '

OnIER f5TuNAL 50tMES - NET 7.695 (7,486) (20,000) (10,129) (63,920) (19,973) (13,292) 14.320 83 ToTAt NU RNA!. FUND $< ASH n.Ow 22,302 3,225 114,290 252,127 (6.700) 170,503 52.690 43,162 . 2.526 OnaR sotscEs - NET 17,300 (16.375) 0 0 0 0 0 G,156) (230)

I:X1E RN AL FLNANCING - NET 6,003 12,278 (77,000) 26,058 208.600 (90,423) 13,844 -(45,000) 3,100 '

TOT AL FUNns rRou AIA sOticis 45,605 (572) 3i,290 273,185 201.900 50,0a0 ' M ,534 (8,994) 3.396 QR AGE UCARTI Pt.Y CASH ROW:

rNTu Nat rCNDs 5,576 806 28,573 63,032 (1,675) 42,626- 13,173 10,791 632 Att sorRcts 11,401 (218) 9,323 69,546 50,475 20,020 16.134 (2,249)' - 1,M9 1

PERCEvT AGE OF NtTTIAR OPE R A11%G Pt ANTS OWNEDe

- vtRMoNT v ANuE 35.00 % 20.00% 20.00 % 9.50 % 4.00 % 4.00 % 2.50 % 2,50 % 2,50 %

OntER OPu Anna PLANT $ 7.50 % 0.00 % 87.10 % 290.10 % 56.Q0% 28.80 % 69,70 % 19.90 % 10,50 %

TaIAL PE R GNTAGE 42.50 % 20.00 % 107.10 % 279 60 % 60.00 A 32.80 % 72.20 % 22AO% 13J>0%

uAX MUM PREvaM 4ssEssMmT 4,250 2,000 10,710 '29,960 6,000 3,280 7,220 2,240 1,300 >

• UNDER VljtMONT YANF.EE*5 POWER CONTDACIS WitH !TS $PON$OR COMPA%iES. VERMONT Y ANKf1 WOtLD BKL $PON$ ORS THE RETROSPEET1\E PREMIUM ASSESSMENT A*' PART OF nE MONTHLY POWER CCNTRACT RILLING $. A5 h H THE *CDST OF PURCHASED POWER

• HA$ BEEN ADIUSTED TO REF1 JCT THE EffECT OF ING.UDING nE MAXIMUM ANNUAL PREMfUM ASSESSMENT FOR EACH EPONSOR AS SHOWN ABOVE.

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