BVY-94-116, Forwards Annual Cashflow Statements for Plant & Nine Sponsor Companies for Yr 1994

Forwards Annual Cashflow Statements for Plant & Nine Sponsor Companies for Yr 1994

ML20078L268
Person / Time
Site:	Vermont Yankee
Issue date:	11/15/1994
From:	Wiggett B VERMONT YANKEE NUCLEAR POWER CORP.
To:	NRC OFFICE OF INFORMATION RESOURCES MANAGEMENT (IRM)
References
BVY-94-116, NUDOCS 9411290130
Download: ML20078L268 (3)

Text

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VERMONT YANKEE NUCLEAR POWER CORPORATION Ferry Road. Brattleboro, VT 05301-7002 r

i November 15, 1994 BVY 94-116

. (802) 257-5271 United States Nuclear Regulatory Commission l ATTN: Document Control Desk Washington, DC 20555

References:

(a) License No. DPR-28 (Docket No. 50-271)

(b) 10CFR, Section 140.21  !

Subject:

Vermont Yankee 10CFR 140.21 Submittal:

Licensee Guarantees of Payment of Deferred Premiums

Dear Ladies / Gentlemen:

In accordance with the requirements of 10CFR 140.21(c); enclosed herewith are the annual cashflow i statements for Vermont Yankee and each of Vermont Yankee's nine sponsor companies for the year  ;

1994. This information is submitted as evidence that Vermont Yankee maintains an approved guarantee l of payment should a $10 million retrospective premium be assessed under the Price-Anderson Act.

]

Under the Power Contracts between Vermont Yankee and its nine sponsor companies, Vermont Yankee I would bill retrospective premium assessments to its sponsors as part of the monthly Power Contract j Billing. As such, the " Cost of Purchased Power" as expressed in the enclosed sponsor financial l 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 operating 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 adequate 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,  ;

l

/ I r

Bruce W. Wiggett ,

Vice President, Finance and Treasurer  !

Enclosure {

cc: USNRC Region 1 Administrator USNRC Resident Inspector - VYNPC USNRC Project Manager 9411290130 941115

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O' PDR ADOCK 05000271 l' I I PDR i

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- VERMONT YANKEE NUCLEAR POWER CORPORATION i 1994 ESTIMATED CASHFLOW .

, (dollars in 000's) f

[

Sept 30,1994 Dec 31,1994 TOTAL ,

actual estimate estimate  !

Cashflow from Operating Activities: (9 mos) (3 mos) (12 mosl Net Income 4,920 1,554 - 6,474 Depreciation and Amortization 10,800 3,537 .14,337  !

Fuel Amortization 13,225 4,038- 17,263 Decommissioning Expense 8,958 2,991 11,949 Nuclear Fuel Disposal Fee Interest 2,319 1,047 3,366 Disposal Fee Defeasance Fmid Earnings (3,291) (600) (3,891)  ;

IncomeTax Deferred & ITC (414) (138) (552)  ;

3,162 3,162 Interest and Taxes Payable 0 Other Sources /Uses (9,875) 0 (9,875)

Pro-Forma Power Cost Assessment Under Power Contracts for Retrospective Premiums Payable by Sponsors per 10 CFR, Section 140.21 0 10,000 10,000 ,

Sub-Total from Operating Activities 29,804 22,429 52,233 Cash Flows from Investing Activities:

Electric Plant Additions (incid removal costs) (861) (1,887) (2,748)  !

Nuclear Fuel Additions (14,085) (4,823) (18,908)-

Payments to Decommissioning Fund (8,926) (2,994) (11,920)  !

Payments to DOE Defeasance Fund (8,190) 0 (8,190)

Other (110) 0 (110) ,

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

Sub-Total from Investing Activities (32,172) (19,704) (51,876) ,

Cashflow from External Financing; {

Payments of Long-Term Obligations (104,700) (32,600) (137,300) l Ilorrowing under Long-Term Agreements 111,455 31,300 142,755 Changes in Short-Term Borrowing 0 0 0  :

Common Stock Dividends Paid (4,835) (2,320) (7,155)  !

Other Financing Costs 0 0 0 Sub-Total from Financing Activities 1,920 (3,620) (1,700) )

~ Net Change in Cash & Equivalents (448) (895) (1,343)  !

I I hereby certify that I am Vice President, Finance and Treasurer of Vermont Yankee Nuclear Power Corporation and that this statement fairly represents the estimated cashflow of the Company for the- j period ended 12/31/94.

• l

/

j /'

l s(j q l I uce W. Wiggett //  !

Vice President, Fin, nce and Treasurer 1

w - y- w-

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VERMONT YANKEE NUCLEAR POWER CORPORATION ,

1994 OPERATIONAL AND CASH FLOW - VERMONT YANKEE SPONSORS (ADJUSTED)

(DOLLARS IN TIIOUSANDS) ,

CENTRAL VT GR EEN NEW CONNECT 1(1;T G NTRAL PU BLIC SER VICE WSTER N MONTAUF CAMBSIDGE PUBUC SER VK'E MOUNTAIN ENGLAND UGHT A POWER M AINE POETR CO OF N EW MASS ELECTRIC ELECTRR" COR PORATION POWER COR P. POWER COM PANY CVMPAN Y COMPANY llAMP5 HIRE ELFCTRIC CV. (pMPANY [.JGHT COM PANY OF_ ERAT!ONAL IN FOR M Allo _N OFF R ATING REVENUES 273,NS 146.933 793.159 349.038 126.405 OPERATING EXPENSB OPE RATIONS:

CtET OF PURCH ASED PO%ER bl 152.307 76.867 93.853 121.148 76.693 OTHER OPERATIONS 65.202 25.43I 196,756 146.664 30.452 FUEL 0 0 420.853 0 0 UTHER OPERATING EXPENSE 14MATNT. TAXI 5.DEPREC) 35,040 32.256 70,142 41,437 12,712 TOTAL OPERATING EXPEN!!s 252.549 134.554 781.604 309.249 119.857 01 H ER INCOM E AN D DEDUCTIONS (INC INTER E5T EXPENE E) (6.937) (3.034) (36,673) (19,086) (3.744)

N ET INCOM E 13,559 9345 (25118) 20,703 2,804__

INT 3;RNeLFUNis INFORM AnOy NET rNCOME 13.559 9.345 34.284 (31.400) (25.118) 31,081 4.410 20,703 2.804 DEPRECIATION AND AMORT 1ZAT10N 17.003 10,674 144A00 349.994 43.662 98.278 66.838 20.605 4,070 DEFERREDINCOMETAXFS ANDTTC- NET 5.513 371 21.000 16.959 27.722 60.614 5.067 3.807 596 A110WANCE FOR FUNIE L' SED DURING CONSTRUCTION (334) (1.041) (14.000) (4.400) (1.260) (618) (1.560) (145) (234)

DEFER RFD R ETURN ASSOCIATED WwlLL5 TONE S PHASE IN (22.058) 0 0 0 (1.220)

DIVIDENDS (18,684) (8.281) 0 0 (39,653) 0 0 (21.071) (4.104)

OTHER INTERNALSOURCES - NET 4.832 (4.501) (55.000) (63.009) 25,747 (44288) (20.238) 14,767 (1.4+9)

TOTAL IN TERN AL FUNIETASH FLOW 21.889 6.567 130,284 246.066 31,100 145,067 53.347 38,666 1.633 oTHER SOURCES - NET 0 (23.052) 0 0 0 0 0 (8,879) (90)

EXT ERNAL FIN ANCING - NET 24.890 15.902 99,000 0 68.200 0 (26.438) (581) 7,600 TOTALFUNLE FROM A11 SOURCES 46J79 (5_83) 229,284 246,086 99.300 145.067 Ky) 29,206 9.143 MTR AGEgtlA, R_TERtJ CASl(FLOW:

INTERNAt. FUNts 5.472 1.642 0 0 7,775 0 0 9.667 408 ALL SOURCES 11.695 (146) 60.000 69,012 24,825 36,862 15.142 7.302 2.286 P_gRCfNTAGE OF NUCLEAR OPERATING PLANTS OWNED:

VERMONT YANKEE 35.00 % 20.00 % 20.00 % 9.50 % 4.00 % 4.00 % 2.50 % 2.50 % 230%

OTHER OPERATING PLANTS 7.50 % 0.00 % 87.16 % 290.10 % 56.00 % 19.80 % 69.70 % 19.90 % 10.50 %

TOTALPERGNTAGE 4230% 20.00 % 107,16 % 299.60 % 60.00 % 23J0% 72.20 % 22.40 % 13.00 %

MAXIMUM PREMfUM ASSESSMENT 4.250 2,000 10.716 29.960 6.000 2,380 7.220 2.240 1,300 p] UNDER VERMONT YANKEE'S POWER CONTRAr"f3 WTTH TM SPONEOR COMPANIES VERMONT YANKEE WOULD BILLSPONSORS THE RETROSPECTIVE PR EMIUM ASSESSMENT AS PART OFTHE MONTHLY POWER CONTRACT T,ILJ.JNGS. AS SUdl THE TOST OF PURCH ASED !"OWTR"HAS BEEN ADIUSTED TO REFtECTTHE EFFECT OFINCLUDING THE M AXIMUM ANNUAL PREMIVM ASSESSMENT FOR EACH SPONSOR AS SHOWN ASOVF.

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