DCL-22-023, Decommissioning Funding Report for Diablo Canyon Power Plant, Units 1 and 2

Decommissioning Funding Report for Diablo Canyon Power Plant, Units 1 and 2

ML22089A150
Person / Time
Site:	Diablo Canyon
Issue date:	03/30/2022
From:	Zawalick M Pacific Gas & Electric Co
To:	Document Control Desk, Office of Nuclear Reactor Regulation
References
DCL-22-023
Download: ML22089A150 (10)

Text

m PacHic Gas and Electric Company*

Maureen R. Zawalick Vice President Decommissioning and Diablo Canyon Power Plant Mail code 104/6/608 P.O. Box 56 Technical Services Avila Beach, CA 93424 805.545.4242 Internal: 691.4242 PG&E Letter DCL-22-023 U.S. Nuclear Regulatory Commission 10 CFR 50.75(f)

ATTN: Document Control Desk 10 CFR 50.82(a)(8)(v)

Washington, DC 20555-0001 10 CFR 50.82(a)(8)(vii)

Docket No. 50-275, OL-DPR-80 Docket No. 50-323, OL-DPR-82 Diablo Canyon Units 1 and 2 Decommissioning Funding Report for Diablo Canyon Power Plant, Units 1 and 2

Reference:

1. PG&E Letter DCL-19-082, Diablo Canyon Power Plant, Units 1 and 2 -

Site-Specific Decommissioning Cost Estimate, dated December 4, 2019 (ML19345D344 and ML19345D345)

2. NRC Letter, Diablo Canyon Power Plant, Units 1 and 2 - Exemptions from the Requirements of 10 CFR Part 50, Sections 50.82(a)(8)(i)(A) and 50.82(a)(8)(ii) (EPID L-2018-LLE-0023), dated September 10, 2019 (ML19163A104)

Dear Commissioners and Staff:

Pacific Gas and Electric Company (PG&E) is submitting the decommissioning funding report for Diablo Canyon Power Plant (DCPP), Units 1 and 2, pursuant to the requirements of 10 CFR 50.75(f). In Reference 1, PG&E submitted the site-specific decommissioning cost estimate (DCE) for DCPP Units 1 and 2. In accordance with 10 CFR 50.82(a)(8)(v), after submitting the site-specific DCE, and until the licensee has completed its final radiation survey and demonstrated that residual radioactivity has been reduced to a level that permits termination of its license, licensees must annually submit to the NRC, by March 31, a financial assurance status report. In addition, in accordance with 10 CFR 50.82(a)(8)(vii), after submitting the site-specific DCE, the licensee must annually submit to the NRC, by March 31, a report on the status of funding for managing irradiated fuel.

In Reference 2, the NRC granted PG&E an exemption request to allow withdrawal of

$187.8 million ($2017) from the Diablo Canyon Nuclear Decommissioning Trust (NDT) to fund radiological decommissioning, spent fuel management, and site restoration planning activities prior to permanent cessation of operations. However, as of the date A member of the STARS Alliance Callaway

• Diablo Canyon

• Palo Verde

• Wolf Creek

Document Control Desk PG&E Letter DCL-22-023 Page 2 of this submittal, PG&E has not withdrawn any funds from the Diablo Canyon NDT to support decommissioning activities.

Diablo Canyon Power Plant, Units 1 and 2 At the end of calendar year 2021, the market values of the DCPP Units 1 (3411 MWt) and 2 (3411 MWt) decommissioning trust fund were $1,921.7 million and

$2,513.5 million, respectively. PG&E currently has more funds in the DCPP, Units 1 and 2, decommissioning trust fund than required to meet the minimum NRC decommissioning amount of $706.8 million (2022 dollars) for each unit that was calculated pursuant to the requirements of 10 CFR 50.75(c).

Supporting Cost Estimates PG&E prepared a site-specific DCE that was submitted to the California Public Utilities Commission (CPUC) in the 2021 Nuclear Decommissioning Cost Triennial Proceeding (NDCTP) on December 14, 2021. PG&E does not expect a final ruling in the 2021 NDCTP until 2023. Based on this site-specific DCE provided, PG&E estimates that the license termination decommissioning costs are about $1,270.2 million for DCPP Unit 1 and $1,182.3 million for Unit 2 in 2022 dollars. These costs do not include site restoration of the facilities ($674.9 million in 2022 dollars) or spent fuel management costs ($951.1 million in 2022 dollars) after shutdown of Units 1 and 2.

To assure that sufficient funds will be available for decommissioning, PG&E has established separate external sinking trust fund accounts for DCPP, Units 1 and 2. As part of the final decision in the 2018 NDCTP, PG&E will not collect any additional funds in the NRC-jurisdictional Qualified NDT. The final decision in the 2018 NDCTP did authorize PG&E to deposit additional contributions to a non-qualified trust fund or other non-qualified mechanism, which will include subaccounts to track separately the costs associated with license termination, spent fuel management and site restoration. As demonstrated in this submittal, PG&E's NRC-jurisdictional Qualified NDT is fully funded for the projected costs of radiological decommissioning for DCPP, Units 1 and 2. The non-qualified trust which was authorized by the CPUC is not subject to NRC-jurisdiction.

PG&E did not request any additional collection from customers in the 2021 NDCTP.

Supporting Enclosures provides decommissioning funding status information in a format suggested by the Nuclear Energy Institute (NEI) and the NRC. is a cash flow for the total decommissioning of DCPP that identifies the monies for NRC scope (removal of radiological contamination), site restoration (including non-radiological work), and the spent fuel management based on the 2021 NDCTP Cost Estimate by unit. The cash flows provided in Enclosure 2 represent the forecasted cost for radiological decommissioning, site restoration, and spent fuel A member of the STARS Alliance Callaway

• Diablo Canyon

• Palo Verde

• Wolf Creek

Document Control Desk PG&E Letter DCL-22-023 Page 3 management, and do not represent separate sub-accounts within the decommissioning trust fund.

PG&E makes no new or revised regulatory commitments (as defined by NEI 99-04) in this letter.

Should you have any questions, please contact Mr. Philippe Soenen at (805) 459-3701.

Sincerely, Maureen R. Zawalick March 30, 2022 Vice President Decommissioning and Technical Services Date Enclosures cc: Diablo Distribution cc/enc: Nicholas A. Hernandez, NRC Acting Senior Resident Inspector Samson S. Lee, NRR Senior Project Manager Scott A. Morris, NRC Region IV Administrator INPO A member of the STARS Alliance Callaway

• Diablo Canyon

• Palo Verde

• Wolf Creek

Enclosure 1 PG&E Letter DCL-22-023 NRC Decommissioning Funding Status Report Diablo Canyon Power Plant - Units 1 (3411 MWt) and 2 (3411 MWt)

Enclosure 1 PG&E Letter DCL-22-023 Page 1 of 3 NRC Decommissioning Funding Status Report Diablo Canyon Power Plant - Units 1 (3411 MWt) and 2 (3411 MWt)

As provided in 10 CFR 50.75(f)(1), each power reactor licensee is required to report to the NRC on a calendar year basis, beginning on March 31, 1999, and every 2 years thereafter, on the status of its decommissioning funding for each reactor or share of reactor it owns. Any licensee for a plant that is within 5 years of the projected end of its operation, shall submit this report annually.

Note that items 3 and 8 are data included in PG&Es Nuclear Decommissioning Cost Triennial Proceeding (NDCTP) filed with the California Public Utilities Commission (CPUC) on December 14, 2021. A final ruling in the case is not expected until the second quarter of 2023.

1. The minimum decommissioning funds required, pursuant to 10 CFR 50.75 (b) and (c)1

$ in Millions Value in January 2022 dollars Unit 1: $ 706.8 Unit 2: $ 706.8

2. The amount accumulated at the end of the calendar year preceding the date of the report for items included in 10 CFR 50.75 (b) and (c). (Alternatively, the total amount accumulated at the end of the calendar year preceding the date of the report can be reported here if the cover letter transmitting the report provides the total estimate and indicates what portion of that estimate is for items not included in 10 CFR 50.75 (b) and (c)).

$ in Millions Market Value (December 2021 dollars) Unit 1: $ 1,921.7 Unit 2: $ 2,513.5

3. A schedule of the annual amounts remaining to be collected include items beyond those required in 10 CFR 50.75 (b) and (c). (The cover letter transmitting the report provides a total cost estimate and indicates the portions of that estimate for items that are not included in 10 CFR 50.75 (b) and (c)).

There are no planned contributions to the Qualified Nuclear Decommissioning Trust.

4. The assumptions used regarding escalation in decommissioning cost, rates of earnings on decommissioning funds, and rates of other factors used in funding projections.

1 The NRC formulas in section 10 CFR 50.75(c) include only those decommissioning costs incurred by licensees to remove a facility or site safely from service and reduce residual radioactivity to levels that permit: (1) release of the property for unrestricted use and termination of the license; or (2) release of the property under restricted conditions and termination of the license. The cost of dismantling or demolishing non-radiological systems and structures is not included in the NRC decommissioning cost estimates. The costs of managing and storing spent fuel on site until transfer to United States Department of Energy are not included in the cost formulas.

Enclosure 1 PG&E Letter DCL-22-023 Page 2 of 3 Escalation Rates in Decommissioning Costs Year PG&E Materials Contract Burial Labor Equipment Labor Costs Other 2022 0.0347 0.0227 0.0338 0.0415 0.0204 2023 0.0347 0.0140 0.0338 0.0415 0.0208 2024 0.0347 0.0154 0.0309 0.0415 0.0224 2025 0.0347 0.0159 0.0296 0.0415 0.0233 2026 0.0347 0.0169 0.0297 0.0415 0.0238 2027 0.0347 0.0168 0.0298 0.0415 0.0238 2028 0.0347 0.0176 0.0291 0.0415 0.0236 2029 0.0347 0.0180 0.0287 0.0415 0.0236 2030 0.0347 0.0184 0.0291 0.0415 0.0234 2031 0.0347 0.0187 0.0289 0.0415 0.0235 2032 0.0347 0.0191 0.0297 0.0415 0.0229 2033 0.0347 0.0194 0.0299 0.0415 0.0229 2034 0.0347 0.0195 0.0299 0.0415 0.0229 2035 0.0347 0.0194 0.0299 0.0415 0.0228 2036 0.0347 0.0195 0.0299 0.0415 0.0228 2037 0.0347 0.0196 0.0299 0.0415 0.0228 2038 0.0347 0.0198 0.0299 0.0415 0.0227 2039 0.0347 0.0198 0.0299 0.0415 0.0225 2040 0.0347 0.0197 0.0299 0.0415 0.0225 2041 0.0347 0.0194 0.0299 0.0415 0.0221 2042 0.0347 0.0194 0.0299 0.0415 0.0222 2043 0.0347 0.0195 0.0299 0.0415 0.0222 2044 0.0347 0.0194 0.0299 0.0415 0.0222 2045 0.0347 0.0194 0.0299 0.0415 0.0222 2046 0.0347 0.0195 0.0299 0.0415 0.0222 2047 0.0347 0.0195 0.0299 0.0415 0.0222 2048 0.0347 0.0195 0.0299 0.0415 0.0222 2049 0.0347 0.0196 0.0299 0.0415 0.0222 2050 0.0347 0.0196 0.0300 0.0415 0.0223 2051 0.0347 0.0196 0.0299 0.0415 0.0222 2052 0.0347 0.0196 0.0299 0.0415 0.0223 2053 0.0347 0.0196 0.0299 0.0415 0.0223 2054 0.0347 0.0196 0.0299 0.0415 0.0223 2055 0.0347 0.0196 0.0299 0.0415 0.0223 2056 0.0347 0.0196 0.0299 0.0415 0.0223 2057 0.0347 0.0196 0.0299 0.0415 0.0223 2058 0.0347 0.0196 0.0299 0.0415 0.0223 2059 0.0347 0.0196 0.0299 0.0415 0.0223 2060 0.0347 0.0196 0.0299 0.0415 0.0223 2061 0.0347 0.0196 0.0299 0.0415 0.0223 2062 0.0347 0.0196 0.0299 0.0415 0.0223

Enclosure 1 PG&E Letter DCL-22-023 Page 3 of 3 2063 0.0347 0.0196 0.0299 0.0415 0.0223 2064 0.0347 0.0196 0.0299 0.0415 0.0223 2065 0.0347 0.0196 0.0299 0.0415 0.0223 2066 0.0347 0.0196 0.0299 0.0415 0.0223 2067 0.0347 0.0196 0.0299 0.0415 0.0223 2068 0.0347 0.0196 0.0299 0.0415 0.0223 2069 0.0347 0.0196 0.0299 0.0415 0.0223 2070 0.0347 0.0196 0.0299 0.0415 0.0223 2071 0.0347 0.0196 0.0299 0.0415 0.0223 2072 0.0347 0.0196 0.0299 0.0415 0.0223 2073 0.0347 0.0196 0.0299 0.0415 0.0223 2074 0.0347 0.0196 0.0299 0.0415 0.0223 2075 0.0347 0.0196 0.0299 0.0415 0.0223 2076 0.0347 0.0196 0.0299 0.0415 0.0223 Rate of Earnings on Decommissioning Funds PG&E has a assumed a 2 percent real rate of return on decommissioning funds as allowed by 10 CFR 50.75(E)(1)(i).

5. Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v).

NONE

6. Any modifications to a licensees current method providing financial assurance occurring since the last submitted report.

NONE

7. Any material changes to trust agreements.

NONE

8. Current decommissioning cost estimate in Nominal/2022 dollars.

$ in Millions Total NRC Decommissioning Costs $ 1,270.2 Scope Excluded from NRC calculations $ 320.9 Spent Fuel Management $ 474.3 Total Unit 1 (Decommission 2024) $ 2,065.5

$ in Millions Total NRC Decommissioning Costs $ 1,182.3 Scope Excluded from NRC calculations $ 354.0 Spent Fuel Management $ 476.7 Total Unit 2 (Decommission 2025) $ 2,013.1

Enclosure 2 PG&E Letter DCL-22-023 Decommissioning Cash Flow 2022 Dollars Diablo Canyon Power Plant Unit 1 (1 page)

Decommissioning Cash Flow 2022 Dollars Diablo Canyon Power Plant Unit 2 (1 page)

Diablo Canyon Power Plant - Unit 1 (1)

Decommissioning Cash Flow Estimated in Nominal/2022 Dollars 27.072%

A B C D E F G H I Beginning of Year License Site Spent Fuel Total Cost End of Year Year Contributions (2) Earnings (3)

Trust Balance Termination Restoration Management (Withdrawl) Trust Balance I (previsou year) C+D+E ((B-F)*0.02)*0.7292 B-F+G+H 2010 $ 7,445 $ 7,445 2011 $ 55,564 $ 55,564 2016 $ 245,827 $ 245,827 2017 $ 3,375,033 $ 3,375,033 2018 $ 10,043,162 $ 67,287 $ 244,115 $ 10,354,563 2019 $ 2,175,207 $ 954,087 $ 963,249 $ 4,092,543 2020 $ 4,525,534 $ 936,899 $ 476,469 $ 5,938,901 (4) 2021 $ 5,588,431 $ 1,167,364 $ 1,142,647 $ 7,898,443 $ 1,672,303,789 2022 $ 1,672,303,789 $ 12,979,831 $ 2,175,971 $ 30,570,965 $ 45,726,768 $ 23,724,602 $ 1,650,301,623 2023 $ 1,650,301,623 $ 15,639,923 $ 4,266,055 $ 29,619,812 $ 49,525,791 $ 23,348,276 $ 1,624,124,108 2024 $ 1,624,124,108 $ 35,104,065 $ 6,284,004 $ 28,570,289 $ 69,958,357 $ 22,668,440 $ 1,576,834,191 2025 $ 1,576,834,191 $ 216,255,099 $ 5,067,676 $ 3,980,311 $ 225,303,087 $ 19,712,892 $ 1,371,243,996 2026 $ 1,371,243,996 $ 217,035,926 $ 10,487,081 $ 8,466,046 $ 235,989,053 $ 16,558,374 $ 1,151,813,318 2027 $ 1,151,813,318 $ 191,729,359 $ 12,084,712 $ 42,029,723 $ 245,843,794 $ 13,214,109 $ 919,183,633 2028 $ 919,183,633 $ 180,649,635 $ 8,670,128 $ 11,562,525 $ 200,882,288 $ 10,476,856 $ 728,778,201 2029 $ 728,778,201 $ 129,061,645 $ 37,518,181 $ 4,633,380 $ 171,213,206 $ 8,132,420 $ 565,697,415 2030 $ 565,697,415 $ 58,499,792 $ 64,891,484 $ 5,760,107 $ 129,151,382 $ 6,367,286 $ 442,913,318 2031 $ 442,913,318 $ 48,917,410 $ 52,224,234 $ 4,701,649 $ 105,843,294 $ 4,916,369 $ 341,986,393 2032 $ 341,986,393 $ 48,307,740 $ 49,505,540 $ 4,634,909 $ 102,448,189 $ 3,493,808 $ 243,032,012 2033 $ 243,032,012 $ 44,866,399 $ 48,437,622 $ 4,869,941 $ 98,173,962 $ 2,112,842 $ 146,970,892 2034 $ 146,970,892 $ 37,865,093 $ 13,831,232 $ 5,583,309 $ 57,279,635 $ 1,308,201 $ 90,999,458 2035 $ 90,999,458 $ 7,278,793 $ 923,555 $ 8,134,421 $ 16,336,769 $ 1,089,000 $ 75,751,690 2036 $ 75,751,690 $ 360,185 $ 6,850,804 $ 7,210,990 $ 999,707 $ 69,540,408 2037 $ 69,540,408 $ 360,113 $ 6,490,425 $ 6,850,538 $ 914,369 $ 63,604,239 2038 $ 63,604,239 $ 358,461 $ 6,697,021 $ 7,055,481 $ 824,798 $ 57,373,555 2039 $ 57,373,555 $ 368,628 $ 5,896,245 $ 6,264,873 $ 745,451 $ 51,854,132 2040 $ 51,854,132 $ 7,665,897 $ 7,665,897 $ 644,512 $ 44,832,747 2041 $ 44,832,747 $ 5,895,543 $ 5,895,543 $ 567,922 $ 39,505,126 2042 $ 39,505,126 $ 6,468,354 $ 6,468,354 $ 481,861 $ 33,518,633 2043 $ 33,518,633 $ 5,939,136 $ 5,939,136 $ 402,264 $ 27,981,761 2044 $ 27,981,761 $ 6,472,563 $ 6,472,563 $ 313,725 $ 21,822,923 2045 $ 21,822,923 $ 7,111,610 $ 7,111,610 $ 214,573 $ 14,925,887 2046 $ 14,925,887 $ 6,446,558 $ 6,446,558 $ 123,676 $ 8,603,005 (5) 2047 $ 8,603,005 $ 5,895,543 $ 5,895,543 $ 39,490 $ 2,746,951 2048 $ 2,746,951 $ 6,516,155 $ 6,516,155 $ - $ -

2049 $ - $ 5,917,340 $ 5,917,340 $ - $ -

2050 $ - $ 7,724,769 $ 7,724,769 $ - $ -

2051 $ - $ 5,895,543 $ 5,895,543 $ - $ -

2052 $ - $ 6,472,563 $ 6,472,563 $ - $ -

2053 $ - $ 5,917,340 $ 5,917,340 $ - $ -

2054 $ - $ 6,490,150 $ 6,490,150 $ - $ -

2055 $ - $ 7,133,406 $ 7,133,406 $ - $ -

2056 $ - $ 6,472,563 $ 6,472,563 $ - $ -

2057 $ - $ 5,895,543 $ 5,895,543 $ - $ -

2058 $ - $ 6,446,558 $ 6,446,558 $ - $ -

2059 $ - $ 5,917,340 $ 5,917,340 $ - $ -

2060 $ - $ 8,216,991 $ 8,216,991 $ - $ -

2061 $ - $ 6,730,544 $ 6,730,544 $ - $ -

2062 $ - $ 8,866,549 $ 8,866,549 $ - $ -

2063 $ - $ 8,758,318 $ 8,758,318 $ - $ -

2064 $ - $ 9,166,413 $ 9,166,413 $ - $ -

2065 $ - $ 9,833,740 $ 9,833,740 $ - $ -

2066 $ - $ 9,147,341 $ 9,147,341 $ - $ -

2067 $ - $ 16,302,669 $ 16,302,669 $ - $ -

2068 $ - $ 16,002,097 $ 16,002,097 $ - $ -

2069 $ - $ 14,465,553 $ 14,465,553 $ - $ -

2070 $ - $ 8,277,753 $ 8,277,753 $ - $ -

2071 $ - $ 2,091,757 $ 2,091,757 $ - $ -

2072 $ - $ 2,095,750 $ 2,095,750 $ - $ -

2073 $ - $ 1,225,761 $ 1,225,761 $ - $ -

2074 $ - $ 1,225,761 $ 1,225,761 $ - $ -

2075 $ - $ 1,284,136 $ 1,284,136 $ - $ -

2076 $ - $ 58,360 $ 58,360 $ - $ -

$ 1,270,206,913 $ 320,940,499 $ 474,322,329 $ 2,065,469,741 $ - $ 163,395,823 NOTES

1) Cash Flow assumes Department of Energy (DOE) Used Fuel Repository opens in 2031, and pick-up from DCPP begins in 2038.

2) 2021 NDCTP as filed contributions. There were no contributions to the Qualified NDT.

3) Earnings assume a 2% real rate of return and a 27% effective tax rate on earnings.

4) Liquidated value of end of year 2021 trust value.

5) In 2048 when costs exceed the total projected value of the Unit 1 portion of the NDT, PG&E anticipates the Unit 2 portion to fund all work.

Diablo Canyon Power Plant - Unit 2 Decommissioning Cash Flow(1)

Estimated in Nominal/2022 Dollars 27.072%

A B C D E F G H I Beginning of Year License Site Spent Fuel Total Cost (2) (3) End of Year Year Contributions Earnings Trust Balance Termination Restoration Management (Withdrawl) Trust Balance I (previous year) C+D+E ((B-F)*0.02)*0.7292 B-F+G+H 2010 $ 7,445 $ 7,445 2011 $ 55,564 $ 55,564 2016 $ 245,827 $ 245,827 2017 $ 3,375,033 $ 3,375,033 2018 $ 10,043,162 $ 67,287 $ 244,115 $ 10,354,563 2019 $ 2,175,207 $ 954,087 $ 963,249 $ 4,092,543 2020 $ 4,525,534 $ 936,899 $ 476,469 $ 5,938,901 (4) 2021 $ 5,588,431 $ 1,167,364 $ 1,142,647 $ 7,898,443 $ 2,192,108,283 2022 $ 2,192,108,283 $ 12,979,831 $ 2,175,971 $ 30,570,965 $ 45,726,768 $ 31,306,262 $ 2,177,687,778 2023 $ 2,177,687,778 $ 15,905,822 $ 4,266,055 $ 29,619,812 $ 49,791,689 $ 31,036,641 $ 2,158,932,730 2024 $ 2,158,932,730 $ 29,437,907 $ 6,284,004 $ 28,570,289 $ 64,292,199 $ 30,551,589 $ 2,125,192,119 2025 $ 2,125,192,119 $ 149,219,248 $ 5,067,676 $ 2,617,021 $ 156,903,945 $ 28,708,664 $ 1,996,996,838 2026 $ 1,996,996,838 $ 198,648,623 $ 9,483,517 $ 4,680,662 $ 212,812,803 $ 26,023,395 $ 1,810,207,430 2027 $ 1,810,207,430 $ 145,133,340 $ 12,031,796 $ 8,044,014 $ 165,209,150 $ 23,993,287 $ 1,668,991,568 2028 $ 1,668,991,568 $ 193,412,139 $ 8,625,709 $ 40,762,967 $ 242,800,815 $ 20,801,848 $ 1,446,992,601 2029 $ 1,446,992,601 $ 164,911,528 $ 38,087,532 $ 7,761,279 $ 210,760,339 $ 18,031,189 $ 1,254,263,451 2030 $ 1,254,263,451 $ 57,405,694 $ 71,261,180 $ 5,633,533 $ 134,300,407 $ 16,335,333 $ 1,136,298,377 2031 $ 1,136,298,377 $ 49,889,020 $ 59,103,793 $ 4,524,447 $ 113,517,260 $ 14,917,876 $ 1,037,698,994 2032 $ 1,037,698,994 $ 48,881,891 $ 61,924,326 $ 4,508,336 $ 115,314,552 $ 13,453,531 $ 935,837,972 2033 $ 935,837,972 $ 45,349,171 $ 56,336,937 $ 4,833,910 $ 106,520,018 $ 12,096,100 $ 841,414,054 2034 $ 841,414,054 $ 37,865,093 $ 13,831,232 $ 5,565,469 $ 57,261,795 $ 11,437,331 $ 795,589,590 2035 $ 795,589,590 $ 7,278,793 $ 923,555 $ 8,173,608 $ 16,375,956 $ 11,365,298 $ 790,578,932 2036 $ 790,578,932 $ 360,185 $ 6,880,375 $ 7,240,560 $ 11,425,460 $ 794,763,832 2037 $ 794,763,832 $ 360,113 $ 6,496,619 $ 6,856,732 $ 11,492,098 $ 799,399,198 2038 $ 799,399,198 $ 358,461 $ 6,151,057 $ 6,509,518 $ 11,564,772 $ 804,454,452 2039 $ 804,454,452 $ 368,628 $ 6,451,866 $ 6,820,494 $ 11,633,970 $ 809,267,927 2040 $ 809,267,927 $ 7,119,466 $ 7,119,466 $ 11,699,817 $ 813,848,278 2041 $ 813,848,278 $ 6,451,142 $ 6,451,142 $ 11,776,372 $ 819,173,508 2042 $ 819,173,508 $ 5,921,946 $ 5,921,946 $ 11,861,762 $ 825,113,324 2043 $ 825,113,324 $ 6,494,780 $ 6,494,780 $ 11,940,043 $ 830,558,587 2044 $ 830,558,587 $ 5,926,155 $ 5,926,155 $ 12,027,759 $ 836,660,191 2045 $ 836,660,191 $ 7,667,208 $ 7,667,208 $ 12,091,360 $ 841,084,343 2046 $ 841,084,343 $ 5,900,127 $ 5,900,127 $ 12,181,663 $ 847,365,879 2047 $ 847,365,879 $ 6,451,142 $ 6,451,142 $ 12,265,246 $ 853,179,983 (5) 2048 $ 853,179,983 $ 5,969,793 $ 5,969,793 $ 12,302,093 $ 855,743,079 2049 $ 855,743,079 $ 6,472,961 $ 6,472,961 $ 12,300,806 $ 855,653,585 2050 $ 855,653,585 $ 7,178,361 $ 7,178,361 $ 12,262,850 $ 853,013,305 2051 $ 853,013,305 $ 6,451,142 $ 6,451,142 $ 12,261,627 $ 852,928,247 2052 $ 852,928,247 $ 5,926,155 $ 5,926,155 $ 12,259,627 $ 852,789,157 2053 $ 852,789,157 $ 6,472,961 $ 6,472,961 $ 12,257,722 $ 852,656,578 2054 $ 852,656,578 $ 5,943,765 $ 5,943,765 $ 12,255,152 $ 852,477,815 2055 $ 852,477,815 $ 7,561,901 $ 7,561,901 $ 12,219,561 $ 850,002,068 2056 $ 850,002,068 $ 5,926,155 $ 5,926,155 $ 12,216,947 $ 849,820,298 2057 $ 849,820,298 $ 6,578,267 $ 6,578,267 $ 12,213,201 $ 849,559,688 2058 $ 849,559,688 $ 5,900,127 $ 5,900,127 $ 12,211,254 $ 849,424,257 2059 $ 849,424,257 $ 6,472,961 $ 6,472,961 $ 12,208,642 $ 849,242,600 2060 $ 849,242,600 $ 7,670,583 $ 7,670,583 $ 12,154,983 $ 845,510,009 2061 $ 845,510,009 $ 7,286,165 $ 7,286,165 $ 12,127,829 $ 843,621,129 2062 $ 843,621,129 $ 8,320,118 $ 8,320,118 $ 12,054,043 $ 838,488,505 2063 $ 838,488,505 $ 9,313,916 $ 9,313,916 $ 11,966,264 $ 832,382,534 2064 $ 832,382,534 $ 8,692,913 $ 8,692,913 $ 11,880,310 $ 826,403,517 2065 $ 826,403,517 $ 10,315,544 $ 10,315,544 $ 11,759,702 $ 818,013,934 2066 $ 818,013,934 $ 10,020,361 $ 10,020,361 $ 11,651,652 $ 810,497,884 2067 $ 810,497,884 $ 21,650,082 $ 21,650,082 $ 11,268,034 $ 783,813,167 2068 $ 783,813,167 $ 19,292,793 $ 19,292,793 $ 10,917,588 $ 759,435,864 2069 $ 759,435,864 $ 14,465,553 $ 14,465,553 $ 10,654,850 $ 741,159,609 2070 $ 741,159,609 $ 8,277,753 $ 8,277,753 $ 10,568,786 $ 735,172,890 2071 $ 735,172,890 $ 2,091,757 $ 2,091,757 $ 10,661,919 $ 741,651,295 2072 $ 741,651,295 $ 2,095,750 $ 2,095,750 $ 10,756,294 $ 748,216,089 2073 $ 748,216,089 $ 1,225,761 $ 1,225,761 $ 10,877,424 $ 756,641,991 2074 $ 756,641,991 $ 1,225,761 $ 1,225,761 $ 11,000,321 $ 765,190,790 2075 $ 765,190,790 $ 1,284,136 $ 1,284,136 $ 11,123,307 $ 773,745,825 2076 $ 773,745,825 $ 58,360 $ 58,360 $ 11,283,845 $ 784,912,950

$ 1,182,334,301 $ 353,976,307 $ 476,746,528 $ 2,013,057,137 $ - $ 771,695,294 NOTES

1) Cash Flow assumes Department of Energy (DOE) Used Fuel Repository opens in 2031, and pick-up from DCPP begins in 2038.

2) 2021 NDCTP as filed contributions. There were no contributions to the Qualified NDT.

3) Earnings assume a 2% real rate of return and a 27% effective tax rate on earnings.

4) Liquidated value of end of year 2021 trust value.

In 2048 when costs exceed the total projected value of the Unit 1 portion of the NDT, PG&E anticipates the Unit 2 portion to fund all work. End of Year Trust Balance calculation 5) changes to B - F - ( [U1] F - [U1] B) + G + H.