BVY 14-082, Update to Decommissioning Funding Status Report

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Update to Decommissioning Funding Status Report
ML14358A250
Person / Time
Site: Vermont Yankee Entergy icon.png
Issue date: 12/19/2014
From: Chappell C
Entergy Nuclear Operations
To:
Document Control Desk, Office of Nuclear Reactor Regulation
References
BVY 14-082
Download: ML14358A250 (13)
v • d • e


Text

Entergy Nuclear Operations, Inc.

Vermont Yankee 320 Governor Hunt Rd.

SEntergy Vernon, VT17 802-257-7711 Coley C. Chappell Regulatory Assurance Manager BVY 14-082 December 19, 2014 U.S. Nuclear Regulatory Commission Attn: Document Control Desk Washington, DC 20555-0001

SUBJECT:

Update to Decommissioning Funding Status Report Vermont Yankee Nuclear Power Station Docket No. 50-271 License No. DPR-28

REFERENCES:

1. Letter, Entergy Nuclear Operations, Inc. to USNRC, "Decommissioning Funding Status Report per 10 CFR

§50.75(f)(1) and 10 CFR 50.82(a)(8)(v)," ENOC-14-00009, dated March 28, 2014 (ML14092A362)

2. Letter, Entergy Nuclear Operations, Inc. to USNRC, "Post Shutdown Decommissioning Activities Report," BVY 14-078, dated December 19, 2014
3. Letter, Entergy Nuclear Operations, Inc. to USNRC NRC, "Update to Irradiated Fuel Management Program Pursuant to 10 CFR 50.54(bb)," BVY 14-085, dated December 19, 2014

Dear Sir or Madam:

In a letter dated March 28, 2014 (Reference 1), Entergy Nuclear Operations, Inc. (ENO) provided the Vermont Yankee Nuclear Power Station (VYNPS) Decommissioning Funding Status Report for the year ending December 31, 2013. ENO plans to permanently shut down the VYNPS at the end of the current operating cycle, which is expected to occur later this month. To support this transition, ENO is updating the status of the VYNPS Decommissioning Trust Fund.

Attachment 1 provides the status of decommissioning funding for VYNPS as of October 31, 2014. Attachment 2 provides an updated calculation of the minimum decommissioning funding required by 10 CFR 50.75.

The VYNPS decommissioning trust fund balance is approximately $655 million as of October 31, 2014. Tables 3.4 and 3.5 of the Decommissioning Cost Estimate (DCE) (Reference 2, Attachment 1) set forth the estimated annual expenditures for license termination and spent fuel management, respectively. The Irradiated Fuel Management Program Update (Reference 3)

BVY 14-082 / Page 2 of 3 utilizes this annual expenditure information in a cash flow analysis. The cash flow analysis is duplicated in Attachment 3.

The cash flow analysis demonstrates that the VYNPS trust fund is sufficiently funded for all license termination activities and certain spent fuel management activities (i.e., operational costs). As discussed in the Irradiated Fuel Management Program Update (Reference 3) costs related to spent fuel management operations (e.g., operations and maintenance costs for the spent fuel pool and Independent Spent Fuel Storage Installation, totaling approximately $225 million) will be funded from the decommissioning trust fund, assuming that ENO obtains an exemption that allows the use of trust funds for spent fuel management activities.

Thus, considering the current fund balance of $655 million (as of October 31, 2014) and projected fund earnings during the SAFSTOR period (assuming an annual 2% growth rate), the trust fund is expected to have an excess of $175.9 million after completion of license termination and the operational spent fuel management activities that will be funded by the trust fund.

This information is provided for the NRC's information and to support ENO correspondence regarding VYNPS that will be submitted in the near future. It is not the decommissioning funding status report required to comply with 10 CFR 50.75(f)(1) and 10 CFR 50.82(a)(8)(v) for the year ending December 31, 2014. ENO will submit that required report by March 31, 2015.

This letter contains no new regulatory commitments.

Should you have any questions concerning this letter or require additional information, please contact me at 802-451-3374.

Sincerely, CC/plcJ Attachments: 1. Status of Decommissioning Funding as of October 31, 2014 - 10 CFR 50.75(f)(1) and 10 CFR 50.82(a)(8)(v)

2. Calculation of Required Minimum Amount of Decommissioning Funding
3. Annual Cash Flow Analysis

BVY 14-082 / Page 3 of 3 cc: Mr. Daniel H. Dorman Regional Administrator, Region 1 U.S. Nuclear Regulatory Commission 2100 Renaissance Blvd, Suite 100 King of Prussia, PA 19406-2713 Mr. James S. Kim, Project Manager Division of Operating Reactor Licensing Office of Nuclear Reactor Regulation U.S. Nuclear Regulatory Commission Mail Stop 08D15 Washington, DC 20555 USNRC Resident Inspector Entergy Nuclear Vermont Yankee, LLC 320 Governor Hunt Road Vernon, Vermont 05354 Mr. Christopher Recchia, Commissioner Vermont Department of Public Service 112 State Street - Drawer 20 Montpelier, Vermont 05620-2601

BVY 14-082 Docket 50-271 Attachment 1 Vermont Yankee Nuclear Power Station Status of Decommissioning Funding as of October 31, 2014 - 10 CFR 50.75(f)(1) and 10 CFR 50.82(a)(8)(v)

BVY 14-082 / Attachment 1 / Page 1 of 2 Entergy Nuclear Operations, Inc.

Status of Decommissioning Funding for Vermont Yankee Nuclear Power Station as of October 31, 2014 - 10 CFR 50.75(f)(1) and 10 CFR 50.82(a)(8)(v) 10 CFR 50.75(f)(1)

1. Minimum Financial Assurance (MFA) $ 817.22 million [Note]

estimated per 10 CFR 50.75(b) and (c) (2014$)

2. Decommissioning Trust Fund Total

$ 654.96 million as of 10/31/14

3. A schedule of the annual amounts remaining to be collected None
4. Assumptions used in determining rates of escalation in 2% annual real rate decommissioning costs, rates of earnings on decommissioning of return per 10 CFR funds, and rates of other factors used in funding projections 50.75(e)(1)(i)
5. Any contracts upon which the licensee is relying pursuant to 10 None CFR 50.75(e)(1 )(v)
6. Modifications occurring to a licensee's current method of providing None financial assurance since the last submitted report
7. Any material changes to trust agreements None Note: This amount is based upon planned total SAFSTOR expenditures for license termination set forth in the annual cash flow analysis that is provided in Attachment 3. Calculation of the NRC Minimum Amount is provided in Attachment 2.

BVY 14-082 / Attachment 1 / Page 2 of 2 10 CFR 50.82(a)(8)(v)

1. Cumulative decommissioning spending $ 0.00 [Notel]
2. 2014 decommissioning spending $ 0.00 [Notel1
3. Fund Balance See above in 10 CFR 50.75 information
4. No other financial assurance mechanism is being relied upon, but costs to date have been funded by operations.
5. Estimated costs to complete from latest estimate $ 817.22 million

[Note 2]

6. Estimate is based on SAFSTOR and unrestricted release of the site per 10 CFR 20.1402
7. Modifications to financial assurance since last report See above in 10 CFR 50.75 information
8. Any material changes to trust agreements See above in 10 CFR 50.75 information Note 1: Entergy Nuclear Vermont Yankee, LLC has incurred decommissioning planning costs, but no trust disbursements from the decommissioning trust fund have been made to date.

Note 2: This amount is based upon the site-specific decommissioning cost estimate (DCE).

The DCE was provided as Attachment 1 to the Post Shutdown Decommissioning Activities Report (Reference 1).

REFERENCE:

1. Letter, Entergy Nuclear Operations, Inc. to USNRC, "Post Shutdown Decommissioning Activities Report," BVY 14-078, dated December 19, 2014

BVY 14-082 Docket 50-271 Attachment 2 Vermont Yankee Nuclear Power Station Calculation of Required Minimum Amount of Decommissioning Funding

BVY 14-082 / Attachment 2 / Page 1 of 1 Calculation of Required Minimum Amount of Decommissioning Funding Entergy Nuclear Vermont Yankee LLC.: 100% ownership interest Plant Location: Vernon, Vermont Reactor Type: Boiling Water Reactor ("BWR")

Power Level: <3,400 MWt (1912 MWt)

BWR Base Year 1986$: $121,208,000 Labor Region: North Waste Burial Facility: Generic Disposal Site 10CFR50.75(c)(2) Escalation Factor Formula:

0.65(L) +0.13(E) +0.22(B)

Factor L=Labor (North) 2.651 E=Energy (BWR) 2.562 B=Waste Burial-Vendor (BWR) 14.1603 BWR Escalation Factor:

0.65(L) +0.13(E) +0.22(B)= 5.17026 1986 BWR Base Year $ Escalated:

$121,208,000

  • Factor= $626,676,406 1

Bureau of Labor Statistics, Series Report ID: CIU2010000000210i (3rd Quarter 2014) 2 Bureau of Labor Statistics, Series Report ID: wpu0543 and wpu0573 (October 2014, Prelim.)

3 Nuclear Regulatory Commission: NUREG-1307 Revision 15, Table 2.1 (2012)

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BVY 14-082 / Attachment 3 / Page 1 of 4 Table 1 - Annual Cash Flow Analysis Vermont Yankee Nuclear Power Station - SAFSTOR Methodology Annual Cash Flow Analysis - Total License Termination, Spent Fuel Management less Transfer to Dry Fuel Storage Costs (in Thousands, 2014 Dollars)

Date Amount Current Value of Qualified Trust Fund 10/31/2014 $ 654,925 Current Value of Non-Qualified Trust Fund 10/31/2014 $ 38 Total Trust Fund Balance as of 10/31/2014 $ 654,963 Start of Decommissioning 12/29/2014 Decommissioning Funds value at Calculation Date 10/31/2014 $ 654,963 Total Estimated Costs at Calculation Date (includes 10/31/2014 $ 1,042,748 license termination and spent fuel management costs)

Start of Decom to end of Decom - Assumes 0.0% Decom cost escalation 0.000% Cost Escalation Rate rate Start of Decom to end of Decom - Assumes 2.0%

2.000% Fund Earnings Rate Earnings Rate Vermont Yankee Nuclear Power Station - SAFSTOR Methodology Annual Cash Flow Analysis - Total License Termination, Spent Fuel Management less Transfer to Dry Fuel Storage Costs (In Thousands in 2014 Dollars)

Column 4 License Termination Column I Column 2 Column 3 Cost plus Beginning of Column 8 Column 9 50.75 50.54 (bb) Exclude Spent Fuel Year Trust Column 6 Column 7 Trust Year Ending Year License Spent Fuel Transfer to Management Fund Withdraw Contribute Fund Trust Fund Termination Management Dry Fuel Cost less Balance Earnings Balance Cost Cost Storage Cost Transfer to Dry Fuel Storage Cost 2014 15,165 4,753 4,753 15,165 654,963 15,165 0 2,183 641,981 2015 81,198 14,319 10,001 85,515 641,981 85,515 0 11,984 568,450 2016 36,126 29,506 7,613 58,018 568,450 58,018 0 10,789 521,221 2017 10,823 49,049 28,873 31,000 521,221 31,000 0 10,114 500,335 2018 9,548 62,330 41,644 30,235 500,335 30,235 0 9,704 479,805 2019 8,173 59,684 39,516 28,342 479,805 28,342 0 9,313 460,776 2020 17,763 20,745 10,420 28,088 460,776 28,088 0 8,935 441,622 2021 5,241 3,996 9,237 441,622 9,237 0 8,740 441,125 2022 5,191 3,996 9,187 441,125 9,187 0 8,731 440,669 2023 5,191 3,996 9,187 440,669 9,187 0 8,722 440,204 2024 3,650 4,007 7,657 440,204 7,657 0 8,728 441,274 2025 3,591 3,996 7,587 441,274 7,587 0 8,750 442,437 2026 3,733 3,996 7,729 442,437 7,729 0 8,771 443,480 2027 3,783 3,996 7,779 443,480 7,779 0 8,792 444,493 2028 3,742 4,007 7,749 444,493 7,749 0 8,812 445,557 2029 3,733 3,996 7,729 445,557 7,729 0 8,834 446,662 2030 3,783 3,996 7,779 446,662 7,779 0 8,855 447,738

BVY 14-082 / Attachment 3 / Page 2 of 4 Vermont Yankee Nuclear Power Station - SAFSTOR Methodology Annual Cash Flow Analysis - Total License Termination, Spent Fuel Management less Transfer to Dry Fuel Storage Costs (In Thousands in 2014 Dollars)

Column 4 License Termination Clm Column 1 Column 2 Column 3 Cost plus Beginning Of Column 8 Column 9 50.75 50.54 (bb) Exclude Spent Fuel Year Trust Column 6 Column 7 Trust Year Ending Year License Spent Fuel Transfer to Management Fund Withdraw Contribute Fund Trust Fund Termination Management Dry Fuel Cost less Balance Earnings Balance Cost Cost Storage Cost Transfer to Dry Fuel Storage Cost 2031 3,733 3,996 7,729 447,738 7,729 0 8,877 448,887 2032 3,742 4,007 7,749 448,887 7,749 0 8,900 450,039 2033 3,783 3,996 7,779 450,039 7,779 0 8,923 451,183 2034 3,733 3,996 7,729 451,183 7,729 0 8,946 452,400 2035 3,733 3,996 7,729 452,400 7,729 0 8,971 453,642 2036 3,792 4,007 7,799 453,642 7,799 0 8,995 454,839 2037 3,733 3,996 7,729 454,839 7,729 0 9,019 456,129 2038 3,733 3,996 7,729 456,129 7,729 0 9,045 457,446 2039 3,783 3,996 7,779 457,446 7,779 0 9,071 458,738 2040 3,742 4,007 7,749 458,738 7,749 0 9,097 460,087 2041 3,733 3,996 7,729 460,087 7,729 0 9,124 461,482 2042 3,783 3,996 7,779 461,482 7,779 0 9,152 462,855 2043 3,733 3,996 7,729 462,855 7,729 0 9,180 464,306 2044 3,742 4,007 7,749 464,306 7,749 0 9,209 465,767 2045 3,783 3,996 7,779 465,767 7,779 0 9,238 467,225 2046 3,733 3,996 7,729 467,225 7,729 0 9,267 468,764 2047 3,733 3,996 7,729 468,764 7,729 0 9,298 470,333 2048 3,792 4,007 7,799 470,333 7,799 0 9,329 471,863 2049 3,733 3,996 7,729 471,863 7,729 0 9,360 473,494 2050 3,733 3,996 7,729 473,494 7,729 0 9,393 475,158 2051 3,783 3,996 7,779 475,158 7,779 0 9,425 476,804 2052 3,742 4,007 7,749 476,804 7,749 0 9,459 478,514 2053 3,583 0 3,583 478,514 3,583 0 9,534 484,466 2054 3,633 0 3,633 484,466 3,633 0 9,653 490,487 2055 3,583 0 3,583 490,487 3,583 0 9,774 496,678 2056 3,591 0 3,591 496,678 3,591 0 9,898 502,984 2057 3,633 0 3,633 502,984 3,633 0 10,023 509,375 2058 3,583 0 3,583 509,375 3,583 0 10,152 515,944 2059 3,583 0 3,583 515,944 3,583 0 10,283 522,644 2060 3,641 0 3,641 522,644 3,641 0 10,416 529,419 2061 3,583 0 3,583 529,419 3,583 0 10,553 536,389 2062 3,583 0 3,583 536,389 3,583 0 10,692 543,499 2063 3,633 0 3,633 543,499 3,633 0 10,834 550,700 2064 3,591 0 3,591 550,700 3,591 0 10,978 558,086

BVY 14-082 / Attachment 3 / Page 3 of 4 Vermont Yankee Nuclear Power Station - SAFSTOR Methodology Annual Cash Flow Analysis - Total License Termination, Spent Fuel Management less Transfer to Dry Fuel Storage Costs (In Thousands in 2014 Dollars)

Column4 License Termination Column I Column 2 Column 3 Cost plus Beginning ofComn 50.75 50.54 (bb) Exclude Spent Fuel Year Trust Column 6 Column 7 Trust Year Ending Year License Spent Fuel Transfer to Management Fund Withdraw Contribute Fund Trust Fund Termination Management Dry Fuel Cost less Balance Earnings Balance Cost Cost Storage Cost Transfer to Dry Fuel Storage Cost 2065 3,583 0 3,583 558,086 3,583 0 11,126 565,630 2066 3,633 0 3,633 565,630 3,633 0 11,276 573,273 2067 3,583 0 3,583 573,273 3,583 0 11,430 581,120 2068 43,277 0 43,277 581,120 43,277 0 11,190 549,033 2069 92,030 0 92,030 549,033 92,030 0 10,060 467,064 2070 104,519 0 104,519 467,064 104,519 0 8,296 370,841 2071 84,524 0 84,524 370,841 84,524 0 6,572 292,889 2072 84,953 0 84,953 292,889 84,953 0 5,008 212,944 2073 50,139 0 50,139 212,944 50,139 0 3,757 166,563 2074 512 0 512 166,563 512 0 3,326 169,377 2075 295 0 295 169,377 295 0 3,385 172,466 2076 0 0 0 172,466 0 0 3,449 175,915 817,219 368,347 142,819 1,042,748 1,042,748 0 563,701 Table 1 Definitions:

Column 1: 50.75 License Termination Cost Reflects the Total Annual License Termination Plan cost in 2014 dollars at a 0.0%

escalation rate Column 2: 50.54 (bb) Spent Fuel Management Cost Reflects the Total Annual Irradiated Fuel Management Plan cost in 2014 dollars at a 0.0% escalation rate Column 3: Exclude Transfer to Dry Fuel Storage Cost Reflects the Transfer to Dry Fuel Storage Cost included in Column 2 that is planned to be funded by external credit facilities, in 2014 dollars at a 0.0% escalation rate Column 4: License Termination Cost plus Spent Fuel Management Cost less Transfer to Dry Fuel Storage Cost Reflects the Total Annual License Termination Plan cost plus Total Spent Fuel Management Plan cost less Transfer to Dry Fuel Storage cost all in 2014 dollars at a 0.0% escalation rate (Column 1 + Column 2 - Column 3)

BVY 14-082 / Attachment 3 / Page 4 of 4 Column 5: Beginning of Year Trust Fund Balance Reflects the beginning of year Trust Fund balance in 2014 dollars at a 0.0% escalation rate and 2.0% Fund Earnings Column 6: Withdraw Reflects the annual expenditures from the Trust Fund in 2014 dollars at a 0.0%

escalation rate (equals Column 4)

Column 7: Contribute Reflects the annual contributions to the Trust Fund in 2014 dollars at a 0.0% escalation rate Column 8: Trust Fund Earnings Reflects earnings on funds remaining in the trust. A 2.0% earnings rate is used over a 0.0% cost escalation rate. The annual 2.0% earnings are calculated on the beginning balance less 50% of the projected annual expenditure for each year. (Column 5 - 50% of Column 6

  • 2.0%)

Column 9: Year Ending Trust Fund Balance Reflects the end of year Trust Fund balance after all projected earnings are added and all projected expenditures are deducted for year end specified at a 0.0% escalation rate and 2.0% Fund Earnings in 2014 dollars. (Column 5 - Column 6 + Column 7 + Column 8)

Entergy Nuclear Operations, Inc.

Vermont Yankee 320 Governor Hunt Rd.

SEntergy Vernon, VT17 802-257-7711 Coley C. Chappell Regulatory Assurance Manager BVY 14-082 December 19, 2014 U.S. Nuclear Regulatory Commission Attn: Document Control Desk Washington, DC 20555-0001

SUBJECT:

Update to Decommissioning Funding Status Report Vermont Yankee Nuclear Power Station Docket No. 50-271 License No. DPR-28

REFERENCES:

1. Letter, Entergy Nuclear Operations, Inc. to USNRC, "Decommissioning Funding Status Report per 10 CFR

§50.75(f)(1) and 10 CFR 50.82(a)(8)(v)," ENOC-14-00009, dated March 28, 2014 (ML14092A362)

2. Letter, Entergy Nuclear Operations, Inc. to USNRC, "Post Shutdown Decommissioning Activities Report," BVY 14-078, dated December 19, 2014
3. Letter, Entergy Nuclear Operations, Inc. to USNRC NRC, "Update to Irradiated Fuel Management Program Pursuant to 10 CFR 50.54(bb)," BVY 14-085, dated December 19, 2014

Dear Sir or Madam:

In a letter dated March 28, 2014 (Reference 1), Entergy Nuclear Operations, Inc. (ENO) provided the Vermont Yankee Nuclear Power Station (VYNPS) Decommissioning Funding Status Report for the year ending December 31, 2013. ENO plans to permanently shut down the VYNPS at the end of the current operating cycle, which is expected to occur later this month. To support this transition, ENO is updating the status of the VYNPS Decommissioning Trust Fund.

Attachment 1 provides the status of decommissioning funding for VYNPS as of October 31, 2014. Attachment 2 provides an updated calculation of the minimum decommissioning funding required by 10 CFR 50.75.

The VYNPS decommissioning trust fund balance is approximately $655 million as of October 31, 2014. Tables 3.4 and 3.5 of the Decommissioning Cost Estimate (DCE) (Reference 2, Attachment 1) set forth the estimated annual expenditures for license termination and spent fuel management, respectively. The Irradiated Fuel Management Program Update (Reference 3)

BVY 14-082 / Page 2 of 3 utilizes this annual expenditure information in a cash flow analysis. The cash flow analysis is duplicated in Attachment 3.

The cash flow analysis demonstrates that the VYNPS trust fund is sufficiently funded for all license termination activities and certain spent fuel management activities (i.e., operational costs). As discussed in the Irradiated Fuel Management Program Update (Reference 3) costs related to spent fuel management operations (e.g., operations and maintenance costs for the spent fuel pool and Independent Spent Fuel Storage Installation, totaling approximately $225 million) will be funded from the decommissioning trust fund, assuming that ENO obtains an exemption that allows the use of trust funds for spent fuel management activities.

Thus, considering the current fund balance of $655 million (as of October 31, 2014) and projected fund earnings during the SAFSTOR period (assuming an annual 2% growth rate), the trust fund is expected to have an excess of $175.9 million after completion of license termination and the operational spent fuel management activities that will be funded by the trust fund.

This information is provided for the NRC's information and to support ENO correspondence regarding VYNPS that will be submitted in the near future. It is not the decommissioning funding status report required to comply with 10 CFR 50.75(f)(1) and 10 CFR 50.82(a)(8)(v) for the year ending December 31, 2014. ENO will submit that required report by March 31, 2015.

This letter contains no new regulatory commitments.

Should you have any questions concerning this letter or require additional information, please contact me at 802-451-3374.

Sincerely, CC/plcJ Attachments: 1. Status of Decommissioning Funding as of October 31, 2014 - 10 CFR 50.75(f)(1) and 10 CFR 50.82(a)(8)(v)

2. Calculation of Required Minimum Amount of Decommissioning Funding
3. Annual Cash Flow Analysis

BVY 14-082 / Page 3 of 3 cc: Mr. Daniel H. Dorman Regional Administrator, Region 1 U.S. Nuclear Regulatory Commission 2100 Renaissance Blvd, Suite 100 King of Prussia, PA 19406-2713 Mr. James S. Kim, Project Manager Division of Operating Reactor Licensing Office of Nuclear Reactor Regulation U.S. Nuclear Regulatory Commission Mail Stop 08D15 Washington, DC 20555 USNRC Resident Inspector Entergy Nuclear Vermont Yankee, LLC 320 Governor Hunt Road Vernon, Vermont 05354 Mr. Christopher Recchia, Commissioner Vermont Department of Public Service 112 State Street - Drawer 20 Montpelier, Vermont 05620-2601

BVY 14-082 Docket 50-271 Attachment 1 Vermont Yankee Nuclear Power Station Status of Decommissioning Funding as of October 31, 2014 - 10 CFR 50.75(f)(1) and 10 CFR 50.82(a)(8)(v)

BVY 14-082 / Attachment 1 / Page 1 of 2 Entergy Nuclear Operations, Inc.

Status of Decommissioning Funding for Vermont Yankee Nuclear Power Station as of October 31, 2014 - 10 CFR 50.75(f)(1) and 10 CFR 50.82(a)(8)(v) 10 CFR 50.75(f)(1)

1. Minimum Financial Assurance (MFA) $ 817.22 million [Note]

estimated per 10 CFR 50.75(b) and (c) (2014$)

2. Decommissioning Trust Fund Total

$ 654.96 million as of 10/31/14

3. A schedule of the annual amounts remaining to be collected None
4. Assumptions used in determining rates of escalation in 2% annual real rate decommissioning costs, rates of earnings on decommissioning of return per 10 CFR funds, and rates of other factors used in funding projections 50.75(e)(1)(i)
5. Any contracts upon which the licensee is relying pursuant to 10 None CFR 50.75(e)(1 )(v)
6. Modifications occurring to a licensee's current method of providing None financial assurance since the last submitted report
7. Any material changes to trust agreements None Note: This amount is based upon planned total SAFSTOR expenditures for license termination set forth in the annual cash flow analysis that is provided in Attachment 3. Calculation of the NRC Minimum Amount is provided in Attachment 2.

BVY 14-082 / Attachment 1 / Page 2 of 2 10 CFR 50.82(a)(8)(v)

1. Cumulative decommissioning spending $ 0.00 [Notel]
2. 2014 decommissioning spending $ 0.00 [Notel1
3. Fund Balance See above in 10 CFR 50.75 information
4. No other financial assurance mechanism is being relied upon, but costs to date have been funded by operations.
5. Estimated costs to complete from latest estimate $ 817.22 million

[Note 2]

6. Estimate is based on SAFSTOR and unrestricted release of the site per 10 CFR 20.1402
7. Modifications to financial assurance since last report See above in 10 CFR 50.75 information
8. Any material changes to trust agreements See above in 10 CFR 50.75 information Note 1: Entergy Nuclear Vermont Yankee, LLC has incurred decommissioning planning costs, but no trust disbursements from the decommissioning trust fund have been made to date.

Note 2: This amount is based upon the site-specific decommissioning cost estimate (DCE).

The DCE was provided as Attachment 1 to the Post Shutdown Decommissioning Activities Report (Reference 1).

REFERENCE:

1. Letter, Entergy Nuclear Operations, Inc. to USNRC, "Post Shutdown Decommissioning Activities Report," BVY 14-078, dated December 19, 2014

BVY 14-082 Docket 50-271 Attachment 2 Vermont Yankee Nuclear Power Station Calculation of Required Minimum Amount of Decommissioning Funding

BVY 14-082 / Attachment 2 / Page 1 of 1 Calculation of Required Minimum Amount of Decommissioning Funding Entergy Nuclear Vermont Yankee LLC.: 100% ownership interest Plant Location: Vernon, Vermont Reactor Type: Boiling Water Reactor ("BWR")

Power Level: <3,400 MWt (1912 MWt)

BWR Base Year 1986$: $121,208,000 Labor Region: North Waste Burial Facility: Generic Disposal Site 10CFR50.75(c)(2) Escalation Factor Formula:

0.65(L) +0.13(E) +0.22(B)

Factor L=Labor (North) 2.651 E=Energy (BWR) 2.562 B=Waste Burial-Vendor (BWR) 14.1603 BWR Escalation Factor:

0.65(L) +0.13(E) +0.22(B)= 5.17026 1986 BWR Base Year $ Escalated:

$121,208,000

  • Factor= $626,676,406 1

Bureau of Labor Statistics, Series Report ID: CIU2010000000210i (3rd Quarter 2014) 2 Bureau of Labor Statistics, Series Report ID: wpu0543 and wpu0573 (October 2014, Prelim.)

3 Nuclear Regulatory Commission: NUREG-1307 Revision 15, Table 2.1 (2012)

0 l 0

0 0

a-0 E s)

C.) z U) 0

-la) L) 0 E1

BVY 14-082 / Attachment 3 / Page 1 of 4 Table 1 - Annual Cash Flow Analysis Vermont Yankee Nuclear Power Station - SAFSTOR Methodology Annual Cash Flow Analysis - Total License Termination, Spent Fuel Management less Transfer to Dry Fuel Storage Costs (in Thousands, 2014 Dollars)

Date Amount Current Value of Qualified Trust Fund 10/31/2014 $ 654,925 Current Value of Non-Qualified Trust Fund 10/31/2014 $ 38 Total Trust Fund Balance as of 10/31/2014 $ 654,963 Start of Decommissioning 12/29/2014 Decommissioning Funds value at Calculation Date 10/31/2014 $ 654,963 Total Estimated Costs at Calculation Date (includes 10/31/2014 $ 1,042,748 license termination and spent fuel management costs)

Start of Decom to end of Decom - Assumes 0.0% Decom cost escalation 0.000% Cost Escalation Rate rate Start of Decom to end of Decom - Assumes 2.0%

2.000% Fund Earnings Rate Earnings Rate Vermont Yankee Nuclear Power Station - SAFSTOR Methodology Annual Cash Flow Analysis - Total License Termination, Spent Fuel Management less Transfer to Dry Fuel Storage Costs (In Thousands in 2014 Dollars)

Column 4 License Termination Column I Column 2 Column 3 Cost plus Beginning of Column 8 Column 9 50.75 50.54 (bb) Exclude Spent Fuel Year Trust Column 6 Column 7 Trust Year Ending Year License Spent Fuel Transfer to Management Fund Withdraw Contribute Fund Trust Fund Termination Management Dry Fuel Cost less Balance Earnings Balance Cost Cost Storage Cost Transfer to Dry Fuel Storage Cost 2014 15,165 4,753 4,753 15,165 654,963 15,165 0 2,183 641,981 2015 81,198 14,319 10,001 85,515 641,981 85,515 0 11,984 568,450 2016 36,126 29,506 7,613 58,018 568,450 58,018 0 10,789 521,221 2017 10,823 49,049 28,873 31,000 521,221 31,000 0 10,114 500,335 2018 9,548 62,330 41,644 30,235 500,335 30,235 0 9,704 479,805 2019 8,173 59,684 39,516 28,342 479,805 28,342 0 9,313 460,776 2020 17,763 20,745 10,420 28,088 460,776 28,088 0 8,935 441,622 2021 5,241 3,996 9,237 441,622 9,237 0 8,740 441,125 2022 5,191 3,996 9,187 441,125 9,187 0 8,731 440,669 2023 5,191 3,996 9,187 440,669 9,187 0 8,722 440,204 2024 3,650 4,007 7,657 440,204 7,657 0 8,728 441,274 2025 3,591 3,996 7,587 441,274 7,587 0 8,750 442,437 2026 3,733 3,996 7,729 442,437 7,729 0 8,771 443,480 2027 3,783 3,996 7,779 443,480 7,779 0 8,792 444,493 2028 3,742 4,007 7,749 444,493 7,749 0 8,812 445,557 2029 3,733 3,996 7,729 445,557 7,729 0 8,834 446,662 2030 3,783 3,996 7,779 446,662 7,779 0 8,855 447,738

BVY 14-082 / Attachment 3 / Page 2 of 4 Vermont Yankee Nuclear Power Station - SAFSTOR Methodology Annual Cash Flow Analysis - Total License Termination, Spent Fuel Management less Transfer to Dry Fuel Storage Costs (In Thousands in 2014 Dollars)

Column 4 License Termination Clm Column 1 Column 2 Column 3 Cost plus Beginning Of Column 8 Column 9 50.75 50.54 (bb) Exclude Spent Fuel Year Trust Column 6 Column 7 Trust Year Ending Year License Spent Fuel Transfer to Management Fund Withdraw Contribute Fund Trust Fund Termination Management Dry Fuel Cost less Balance Earnings Balance Cost Cost Storage Cost Transfer to Dry Fuel Storage Cost 2031 3,733 3,996 7,729 447,738 7,729 0 8,877 448,887 2032 3,742 4,007 7,749 448,887 7,749 0 8,900 450,039 2033 3,783 3,996 7,779 450,039 7,779 0 8,923 451,183 2034 3,733 3,996 7,729 451,183 7,729 0 8,946 452,400 2035 3,733 3,996 7,729 452,400 7,729 0 8,971 453,642 2036 3,792 4,007 7,799 453,642 7,799 0 8,995 454,839 2037 3,733 3,996 7,729 454,839 7,729 0 9,019 456,129 2038 3,733 3,996 7,729 456,129 7,729 0 9,045 457,446 2039 3,783 3,996 7,779 457,446 7,779 0 9,071 458,738 2040 3,742 4,007 7,749 458,738 7,749 0 9,097 460,087 2041 3,733 3,996 7,729 460,087 7,729 0 9,124 461,482 2042 3,783 3,996 7,779 461,482 7,779 0 9,152 462,855 2043 3,733 3,996 7,729 462,855 7,729 0 9,180 464,306 2044 3,742 4,007 7,749 464,306 7,749 0 9,209 465,767 2045 3,783 3,996 7,779 465,767 7,779 0 9,238 467,225 2046 3,733 3,996 7,729 467,225 7,729 0 9,267 468,764 2047 3,733 3,996 7,729 468,764 7,729 0 9,298 470,333 2048 3,792 4,007 7,799 470,333 7,799 0 9,329 471,863 2049 3,733 3,996 7,729 471,863 7,729 0 9,360 473,494 2050 3,733 3,996 7,729 473,494 7,729 0 9,393 475,158 2051 3,783 3,996 7,779 475,158 7,779 0 9,425 476,804 2052 3,742 4,007 7,749 476,804 7,749 0 9,459 478,514 2053 3,583 0 3,583 478,514 3,583 0 9,534 484,466 2054 3,633 0 3,633 484,466 3,633 0 9,653 490,487 2055 3,583 0 3,583 490,487 3,583 0 9,774 496,678 2056 3,591 0 3,591 496,678 3,591 0 9,898 502,984 2057 3,633 0 3,633 502,984 3,633 0 10,023 509,375 2058 3,583 0 3,583 509,375 3,583 0 10,152 515,944 2059 3,583 0 3,583 515,944 3,583 0 10,283 522,644 2060 3,641 0 3,641 522,644 3,641 0 10,416 529,419 2061 3,583 0 3,583 529,419 3,583 0 10,553 536,389 2062 3,583 0 3,583 536,389 3,583 0 10,692 543,499 2063 3,633 0 3,633 543,499 3,633 0 10,834 550,700 2064 3,591 0 3,591 550,700 3,591 0 10,978 558,086

BVY 14-082 / Attachment 3 / Page 3 of 4 Vermont Yankee Nuclear Power Station - SAFSTOR Methodology Annual Cash Flow Analysis - Total License Termination, Spent Fuel Management less Transfer to Dry Fuel Storage Costs (In Thousands in 2014 Dollars)

Column4 License Termination Column I Column 2 Column 3 Cost plus Beginning ofComn 50.75 50.54 (bb) Exclude Spent Fuel Year Trust Column 6 Column 7 Trust Year Ending Year License Spent Fuel Transfer to Management Fund Withdraw Contribute Fund Trust Fund Termination Management Dry Fuel Cost less Balance Earnings Balance Cost Cost Storage Cost Transfer to Dry Fuel Storage Cost 2065 3,583 0 3,583 558,086 3,583 0 11,126 565,630 2066 3,633 0 3,633 565,630 3,633 0 11,276 573,273 2067 3,583 0 3,583 573,273 3,583 0 11,430 581,120 2068 43,277 0 43,277 581,120 43,277 0 11,190 549,033 2069 92,030 0 92,030 549,033 92,030 0 10,060 467,064 2070 104,519 0 104,519 467,064 104,519 0 8,296 370,841 2071 84,524 0 84,524 370,841 84,524 0 6,572 292,889 2072 84,953 0 84,953 292,889 84,953 0 5,008 212,944 2073 50,139 0 50,139 212,944 50,139 0 3,757 166,563 2074 512 0 512 166,563 512 0 3,326 169,377 2075 295 0 295 169,377 295 0 3,385 172,466 2076 0 0 0 172,466 0 0 3,449 175,915 817,219 368,347 142,819 1,042,748 1,042,748 0 563,701 Table 1 Definitions:

Column 1: 50.75 License Termination Cost Reflects the Total Annual License Termination Plan cost in 2014 dollars at a 0.0%

escalation rate Column 2: 50.54 (bb) Spent Fuel Management Cost Reflects the Total Annual Irradiated Fuel Management Plan cost in 2014 dollars at a 0.0% escalation rate Column 3: Exclude Transfer to Dry Fuel Storage Cost Reflects the Transfer to Dry Fuel Storage Cost included in Column 2 that is planned to be funded by external credit facilities, in 2014 dollars at a 0.0% escalation rate Column 4: License Termination Cost plus Spent Fuel Management Cost less Transfer to Dry Fuel Storage Cost Reflects the Total Annual License Termination Plan cost plus Total Spent Fuel Management Plan cost less Transfer to Dry Fuel Storage cost all in 2014 dollars at a 0.0% escalation rate (Column 1 + Column 2 - Column 3)

BVY 14-082 / Attachment 3 / Page 4 of 4 Column 5: Beginning of Year Trust Fund Balance Reflects the beginning of year Trust Fund balance in 2014 dollars at a 0.0% escalation rate and 2.0% Fund Earnings Column 6: Withdraw Reflects the annual expenditures from the Trust Fund in 2014 dollars at a 0.0%

escalation rate (equals Column 4)

Column 7: Contribute Reflects the annual contributions to the Trust Fund in 2014 dollars at a 0.0% escalation rate Column 8: Trust Fund Earnings Reflects earnings on funds remaining in the trust. A 2.0% earnings rate is used over a 0.0% cost escalation rate. The annual 2.0% earnings are calculated on the beginning balance less 50% of the projected annual expenditure for each year. (Column 5 - 50% of Column 6

  • 2.0%)

Column 9: Year Ending Trust Fund Balance Reflects the end of year Trust Fund balance after all projected earnings are added and all projected expenditures are deducted for year end specified at a 0.0% escalation rate and 2.0% Fund Earnings in 2014 dollars. (Column 5 - Column 6 + Column 7 + Column 8)

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