CP-202100086, (CPNPP) - Guarantees of Payment of Deferred Premiums

(CPNPP) - Guarantees of Payment of Deferred Premiums

ML21041A518
Person / Time
Site:	Comanche Peak
Issue date:	02/10/2021
From:	Hicks J Luminant, Vistra Operations Company
To:	Document Control Desk, Office of Nuclear Reactor Regulation
References
CP-202100086, TXX-21052
Download: ML21041A518 (5)

Text

Jack C. Hicks Cor'rcrte Peak Manager, Regulatory Affairs N&ciea' Power P

)Vistra Operatiors Company LLC)

Luminant P.O. Box 1002 6322 North FM 56 Glen Rose, TX 76043 T 254.897.6725 CP-2021 00086 TXX-21052 February 10, 2021 U. S. Nuclear Regulatory Commission Ref 10 CFR 140.21(e)

ATTN: Document Control Desk Washington, DC 20555-0001

Subject:

Comanche Peak Nuclear Power Plant (CPNPP)

Docket Nos. 50-445 and 50-446 Guarantees of Payment of Deferred Premiums

Dear Sir or Madam:

Pursuant to 10 CFR 140.21(e), Vistra Operations Company LLC (Vistra OpCo) hereby submits condensed consolidated financial statements for Vistra Corp. as of September 30, 2020, to demonstrate the Company's ability to pay deferred premiums under the Secondary Financial Program. The cash flow for the quarterly period ending September 30, 2020, is found on pages 2 and 3 of United States Securities and Exchange Commission (SEC) Form 10-Q report (see Enclosure for pages 2 and 3).

The Vistra Corp. SEC Form 10-Q Report for the period ended September 30, 2020, can be accessed at the following u.rl address:

https:/ / www.sec.gov/ Archives/edgar! data/ 1692819/ 0001 69281920000019/vistra-20200930.htm

TXX-21 052 Page 2 of 2 This communication contains no new commitments regarding CPNPP Units I and 2.

Should you have any questions, please contact Carl B. Corbin at (254) 897-0121 or carl.corbin©luminant.com.

Sincerely, Enclosure Vistra Corp. SEC 1O-Q as of September 30, 2020 (Pages 2 and 3) c (email) - Scott Morris, Region TV [ScottMorris©nrc.gov]

Dennis Galvin, NRR [Dennis.Galvin@nrc.gov]

John Ellegood, Senior Resident Inspector, CPNPP [John.Ellegood©nrc.govj Neil Day, Resident Inspector, CPNPP [Neil.Day©nrc.gov]

Enclosure to TXX-21-052 Vistra Corp. SEC I O-Q as of September 3 0, 2020 (Pages 2 and 3)

Table of Contents VISTRA CORP.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (Millions of Dollars)

Nine Months Ended September 30, 2020 2019 Cash flows - operating activities:

Net income 651. 692 Adjustments to reconcile net income to cash provided by operatug activities:

Depreciation and amortization 1.512 1 394 Deferred income tax expense. net 264 254 Impairment of long-lived assets (Note 1 8) 356 Loss on disposal of investment in NFl P (Note 1 8) 29 J_j realized net gain from mark-to-market valuations of commodities (444) (625) tin-realized net loss from mark-to-market valuations of interest rate swaps 181 275 Asset retirement obligation accretion expense 33 40 Impacts of lax Receivable Agreement (Note 8) (44) 26 Stock-based compensation 46 35 Other, net 115 12 Changes in operating assets and liabilities:

Margin deposits, net hO 129 Accrued interest (97) 15 Accrued taxes (35) (3 1)

Accrued employee incentive (20) (53)

Other operating assets and liabilities (257) (_34 0)

Cash provided by operating activities 2 350 1.823 Cash flows - investing activities:

Capital expenditures, including nuclear fuel purchases and 1 TSA prepayments (838) (474)

Crius acquisition (net of cash acquired) (Note 2) - (374)

Proceeds from sales of nuclear decommissioning trust thud securities (Note 18) 291 354 Investments in nuclear decommissioning trust thud securities (Note 18) (307) (370)

Proceeds from sales of environmental allowances 91 32 Purchases of environmental allowances (210) (169)

Proceeds from sale of assets 23 6 Other.,net 23 1.

Cash used in investing activities (927) (979)

Cash flows - financing activities:

Issuances of long-term debt (Note 11) 4.600 Repayments/repurchases of debt (Note II) (955) (4.668)

Net borrowings under accounts receivable securitization program (Note I W 175 261 Borrowings under Revolving Credit Facility (Note 11) 1075 100 Repayments under Revolving Credit Facility (Note 11) (1,425) (100)

Stock repurchase (Note 13) (632)

Dividends paid to stockholders (Note 1 3) (1 98) (1 8 1 Debt tender oiler and other financing fees (Note 11) ( 17) (17)))

Other, net (3 ) 6 Cash used in financing activities (1,348) (784)

lahic of Contents VISTRA CORP.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (Millions of Dollars)

Nine Months Ended September 30, 2020 2019 Net change in cash, cash equivalents and restricted cash 75 60 Cash, cash equivalents and restricted cash - beginning balance 475 693 Cash, cash equivalents and restricted cash - ending balance 550 S 753 See Notes to the Condensed Consolidated Financial Statements.