DCL-24-031, Decommissioning Funding Report

Decommissioning Funding Report

ML24087A124
Person / Time
Site:	Diablo Canyon
Issue date:	03/27/2024
From:	Zawalick M Pacific Gas & Electric Co
To:	Office of Nuclear Reactor Regulation, Document Control Desk
References
DCL-24-031
Download: ML24087A124 (1)

Text

Pacific Gas anti Elecmr: Company

• MMaureen R. Zawalick Diablo Canyon Power Plant Vice President P.O. Box 56 Business and Avila Beach, CA 93424 Technical Services 805.545.4242 Maureen.Zawalick@pge.com

PG&E Letter DCL-24-031

ATTN: Document Control Desk 10 CFR 50.75(f)

U.S. Nuclear Regulatory Commission 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. NRC Letter, Diablo Canyon Nuclear 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 Title 10 of the Code of Federal Regulations (CFR), Section 50.75(f). In accordance with 10 CFR 50.82(a)(8)(v), after submitting the site-specific decommissioning cost estimate (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. PG&E is continuing decommissioning pre-planning activities while also taking actions, in accordance with California Senate Bill 846, to extend the operating licenses for DCPP, Units 1 and 2. In a decision issued in December 2023, the California Public Utilities Commission (CPUC) granted PG&E conditional authority to continue operating DCPP for an additional 5 years. The NRC granted PG&Es exemption request from the timely renewal requirement set forth in 10 CFR 2.109(b) in that if Pacific Gas and Electric submits a LRA no later than December 31, 2023, and if the NRC staff finds it acceptable for docketing, the existing operating licenses for Diablo Canyon Power Plant Units 1 and 2 will be in timely renewal under NRC regulations until the NRC has made a final determination on the license renewal application. Further, PG&E met the conditions of the granted exemption. Specifically, PG&E submitted its license renewal application on November 7, 2023, and the NRC deemed the application

A member of the STARS Alliance Callaway x Diablo Canyon x Palo Verde x Wolf Creek Document Control Desk PG&E Letter DCL-24-031 Page 2

sufficient on December 19, 2023. Therefore, the existing operating licenses for DCPP, Units 1 and 2 are in timely renewal under NRC regulations until the NRC makes a final determination on the license renewal application.

In Reference 1, 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. As of the date of this submittal, PG&E has withdrawn $36.3 million from the DCPP Qualified Master Trust for preliminary decommissioning planning costs incurred through 2019 in accordance with Section 2.01(7) of the Qualified Master Trust Agreement. On February 21, 2024, the CPUC authorized Interim Disbursements from the Master Trust in the amount of

$81.2 million for recorded decommissioning planning costs incurred in years 2020 through 2023.

Diablo Canyon Power Plant, Units 1 and 2

At the end of calendar year 2023, the market values of the DCPP Units 1 (3411 MWt) and 2 (3411 MWt) NDT fund were $1,796.6 million and $2,355.6 million, respectively.

PG&E currently has more funds in the Diablo Canyon NDT fund than required to meet the minimum NRC decommissioning amount of $810.1 million (2024 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 CPUC in the 2021 Nuclear Decommissioning Cost Triennial Proceeding (NDCTP) on December 14, 2021.

The CPUC issued final decision D.23-09-004 on September 21, 2023. This decision adopts and approves the Settlement Agreement, dated December 16, 2022, between PG&E, The Utility Reform Network, the Public Advocates Office at the CPUC, Alliance for Nuclear Responsibility, County of San Luis Obispo, Northern Chumash Tribal Council, DHK Associates, and Womens Energy Matters. Based on this site-specific DCE, PG&E estimates that the license termination decommissioning costs are about

$1,380.3 million for DCPP Unit 1 and $1,285.3 million for Unit 2 in 2024 dollars. These costs do not include site restoration of the facilities ($730.0 million in 2024 dollars) or spent fuel management costs ($1,029.0 million in 2024 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 2021 NDCTP, PG&E is not currently collecting any additional funds in the Qualified NDT. PG&E will reevaluate funding needs in subsequent NDCTP filings based on market forces, updated estimates, and other factors.

A member of the STARS Alliance Callaway x Diablo Canyon x Palo Verde x Wolf Creek Document Control Desk PG&E Letter DCL-24-031 Page 3

Updates to the information included in this submittal will be included in future submittals.

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 DCE by unit. The 2021 NDCTP DCE is based on DCPP Units 1 and 2 shutting down at the current expiration date of the operating licenses. PG&E was granted permission by the State of California to continue operating for an additional 5 years, authorized by the NRC's exemption from 10 CFR 2.109(b) for a timely license renewal application. As a result, the cash flows in Enclosure 2 were updated to reflect the additional 5-years until active decommissioning is anticipated to start. The DCE will be updated in subsequent NDCTP filings. The cash flows provided in Enclosure 2 represent the forecasted cost for radiological decommissioning, site restoration, and spent fuel management, and do not represent separate sub-accounts within the NDT fund for DCPP.

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. Brian Ketelsen at (805) 833-9605.

Sincerely,

Maureen R. Zawalick 0DUFK 

Vice President Business and Technical Services Date

Enclosures cc: Diablo Distribution cc/enc: Mahdi O. Hayes, NRC Senior Resident Inspector Samson S. Lee, NRC Senior Project Manager John D. Monninger, NRC Region IV Administrator INPO

A member of the STARS Alliance Callaway x Diablo Canyon x Palo Verde x Wolf Creek Enclosure 1 PG&E Letter DCL-24-031

NRC Decommissioning Funding Status Report

Diablo Canyon Power Plant - Units 1 (3411 MWt) and 2 (3411 MWt)

Enclosure 1 PG&E Letter DCL-24-031 Page 1 of 4

NRC Decommissioning Funding Status Report Diablo Canyon Power Plant - Units 1 (3411 MWt) & 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 Pacific Gas and Electric Company (PG&E)s Nuclear Decommissioning Cost Triennial Proceeding (NDCTP) filed with the California Public Utilities Commission (CPUC) on December 14, 2021. The CPUC issued final decision D.23-09-004 on September 21, 2023. This decision adopts and approves the Settlement Agreement, dated December 16, 2022, between PG&E, The Utility Reform Network, the Public Advocates Office at the CPUC, Alliance for Nuclear Responsibility, County of San Luis Obispo, Northern Chumash Tribal Council, DHK Associates, and Womens Energy Matters.

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

$ in Millions Value in January 2024 dollars Unit 1: $ 810.1 Unit 2: $ 810.1

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 2023 dollars) Unit 1: $ 1,796.6 Unit 2: $ 2,355.6

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)).

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 DOE are not included in the cost formulas.

Enclosure 1 PG&E Letter DCL-24-031 Page 2 of 4

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.

Escalation Rates in Decommissioning Costs

Year PG&E Materials Contract Burial Labor Equipment Labor Costs Other 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 Enclosure 1 PG&E Letter DCL-24-031 Page 3 of 4

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 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 2077 0.0347 0.0196 0.0299 0.0415 0.0223 2078 0.0347 0.0196 0.0299 0.0415 0.0223 2079 0.0347 0.0196 0.0299 0.0415 0.0223 2080 0.0347 0.0196 0.0299 0.0415 0.0223 2081 0.0347 0.0196 0.0299 0.0415 0.0223

Rate of Earnings on Decommissioning Funds

PG&E has 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 Enclosure 1 PG&E Letter DCL-24-031 Page 4 of 4

8. Current decommissioning cost estimate in Nominal / 2024 dollars.

$ in Millions Total NRC Decommissioning Costs $ 1,380.3 Scope Excluded from NRC calculations $ 347.1 Spent Fuel Management $ 513.3 Total Unit 1 (Decommission 2029) $ 2,240.7

$ in Millions Total NRC Decommissioning Costs $ 1,285.3 Scope Excluded from NRC calculations $ 382.9 Spent Fuel Management $515.6 Total Unit 2 (Decommission 2030) $ 2,183.8 Enclosure 2 PG&E Letter DCL-24-031

Decommissioning Cash Flow 2024 Dollars Diablo Canyon Power Plant Unit 1 (1 page)

Decommissioning Cash Flow 2024 Dollars Diablo Canyon Power Plant Unit 2 (1 page)

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

Estimated in Nominal/2024 Dollars 27.072%

AB C D E F G H I Year Beginning of Year Spent Fuel Total Cost Trust Balance License Termination Site RestorationManagement (Withdrawl) Contributions(2) Earnings(3) End of Year Trust Balance I (previous year) C+D+E ((B-F)*0.02)*(1-0.27072) 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 4,525,407$ 936,899$ 476,469$ 5,938,775$

2021 5,588,167$ 1,167,364$ 1,142,647$ 7,898,178$

2022 5,378,916$ 715,275$ 4,521,554$ 10,615,745$

2023 1,045,344$ 493,505$ 14,781,500$ 16,320,349$ 1,593,465,734$ (4) 2024 1,593,465,734$ 521,168$ 245,312$ 4,139,200$ 4,905,680$ 23,170,102$ 1,611,730,155$

2025 1,611,730,155$ 496,847$ 228,575$ 2,133,271$ 2,858,692$ 23,466,356$ 1,632,337,818$

2026 1,632,337,818$ 1,194,525$ 247,698$ 3,973,178$ 5,415,401$ 23,729,640$ 1,650,652,057$

2027 1,650,652,057$ 4,778,100$ 990,791$ 9,932,946$ 15,701,837$ 23,846,730$ 1,658,796,949$

2028 1,658,796,949$ 17,917,876$ 3,715,466$ 22,571,190$ 44,204,532$ 23,549,799$ 1,638,142,217$

2029 1,638,142,217$ 38,476,972$ 6,909,661$ 30,609,479$ 75,996,112$ 22,784,838$ 1,584,930,943$

2030 1,584,930,943$ 236,278,149$ 5,596,000$ 4,357,655$ 246,231,803$ 19,525,730$ 1,358,224,870$

2031 1,358,224,870$ 235,949,180$ 11,548,046$ 9,233,287$ 256,730,514$ 16,065,956$ 1,117,560,312$

2032 1,117,560,312$ 208,478,199$ 13,164,145$ 45,790,120$ 267,432,464$ 12,399,625$ 862,527,473$

2033 862,527,473$ 196,847,046$ 9,509,396$ 12,698,812$ 219,055,254$ 9,385,428$ 652,857,648$

2034 652,857,648$ 140,177,345$ 40,533,476$ 5,103,952$ 185,814,773$ 6,812,101$ 473,854,975$

2035 473,854,975$ 63,586,649$ 70,047,192$ 6,302,249$ 139,936,090$ 4,870,407$ 338,789,292$

2036 338,789,292$ 53,120,386$ 56,504,097$ 5,168,382$ 114,792,865$ 3,267,122$ 227,263,549$

2037 227,263,549$ 52,457,866$ 53,603,097$ 5,099,309$ 111,160,272$ 1,693,436$ 117,796,714$

2038 117,796,714$ 48,669,449$ 52,408,721$ 5,352,888$ 106,431,058$ 165,775$ 11,531,431$

2039 11,531,431$ 40,973,190$ 14,926,263$ 6,114,195$ 62,013,648$ -$ -$ (5) 2040 -$ 7,928,781$ 1,015,152$ 8,842,408$ 17,786,341$ -$ -$

2041 -$ 394,604$ 7,470,112$ 7,864,716$ -$ -$

2042 -$ 394,529$ 7,084,350$ 7,478,879$ -$ -$

2043 -$ 392,711$ 7,320,470$ 7,713,181$ -$ -$

2044 -$ 405,231$ 6,443,663$ 6,848,894$ -$ -$

2045 -$ 8,354,671$ 8,354,671$ -$ -$

2046 -$ 6,443,032$ 6,443,032$ -$ -$

2047 -$ 7,073,565$ 7,073,565$ -$ -$

2048 -$ 6,491,119$ 6,491,119$ -$ -$

2049 -$ 7,078,043$ 7,078,043$ -$ -$

2050 -$ 7,744,705$ 7,744,705$ -$ -$

2051 -$ 7,049,522$ 7,049,522$ -$ -$

2052 -$ 6,443,032$ 6,443,032$ -$ -$

2053 -$ 7,126,130$ 7,126,130$ -$ -$

2054 -$ 6,467,075$ 6,467,075$ -$ -$

2055 -$ 8,417,099$ 8,417,099$ -$ -$

2056 -$ 6,443,032$ 6,443,032$ -$ -$

2057 -$ 7,078,043$ 7,078,043$ -$ -$

2058 -$ 6,467,075$ 6,467,075$ -$ -$

2059 -$ 7,097,609$ 7,097,609$ -$ -$

2060 -$ 7,768,748$ 7,768,748$ -$ -$

2061 -$ 7,078,043$ 7,078,043$ -$ -$

2062 -$ 6,443,032$ 6,443,032$ -$ -$

2063 -$ 7,049,522$ 7,049,522$ -$ -$

2064 -$ 6,467,075$ 6,467,075$ -$ -$

2065 -$ 8,949,036$ 8,949,036$ -$ -$

2066 -$ 7,350,685$ 7,350,685$ -$ -$

2067 -$ 9,692,995$ 9,692,995$ -$ -$

2068 -$ 9,555,400$ 9,555,400$ -$ -$

2069 -$ 10,030,270$ 10,030,270$ -$ -$

2070 -$ 10,736,972$ 10,736,972$ -$ -$

2071 -$ 10,015,433$ 10,015,433$ -$ -$

2072 -$ 17,854,862$ 17,854,862$ -$ -$

2073 -$ 17,469,571$ 17,469,571$ -$ -$

2074 -$ 15,674,064$ 15,674,064$ -$ -$

2075 -$ 8,912,888$ 8,912,888$ -$ -$

2076 -$ 2,257,434$ 2,257,434$ -$ -$

2077 -$ 2,283,685$ 2,283,685$ -$ -$

2078 -$ 1,322,268$ 1,322,268$ -$ -$

2079 -$ 1,322,268$ 1,322,268$ -$ -$

2080 -$ 1,387,458$ 1,387,458$ -$ -$

2081 -$ 62,731$ 62,731$ -$ -$

$ 347,114,5781,380,291,801$ 513,328,843$ 2,240,735,221$ -$ 214,733,044$

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 27.072% effective tax rate on earnings.

4) Liquidated value of end of year 2023 trust value. In 2039 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 through the end of

5) the project.

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

Estimated in Nominal/2024 Dollars 27.072%

AB C D E F G H I Year Beginning of Year Spent Fuel Total Cost Trust Balance License Termination Site Restoration Management (Withdrawl) Contributions(2) Earnings(3) End of Year Trust Balance I (previous year) C+D+E ((B-F)*0.02)*(1-0.27072) 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 4,525,407$ 936,899$ 476,469$ 5,938,775$

2021 5,588,167$ 1,167,364$ 1,142,647$ 7,898,178$

2022 4,994,909$ 715,275$ 4,521,554$ 10,231,738$

2023 1,045,344$ 493,505$ 14,781,500$ 16,320,349$ 2,089,273,529$ (4) 2024 2,089,273,529$ 526,540$ 245,312$ 4,139,200$ 4,911,052$ 30,401,677$ 2,114,764,154$

2025 2,114,764,154$ 551,344$ 228,575$ 2,133,271$ 2,913,189$ 30,802,613$ 2,142,653,578$

2026 2,142,653,578$ 1,225,007$ 247,698$ 3,973,178$ 5,445,883$ 31,172,457$ 2,168,380,151$

2027 2,168,380,151$ 4,900,029$ 990,791$ 9,932,946$ 15,823,766$ 31,396,326$ 2,183,952,712$

2028 2,183,952,712$ 18,375,109$ 3,715,466$ 22,402,443$ 44,493,017$ 31,205,303$ 2,170,664,998$

2029 2,170,664,998$ 32,336,333$ 6,909,661$ 30,609,479$ 69,855,473$ 30,641,567$ 2,131,451,092$

2030 2,131,451,092$ 163,820,786$ 5,596,000$ 2,889,484$ 172,306,270$ 28,575,303$ 1,987,720,125$

2031 1,987,720,125$ 216,178,401$ 10,441,192$ 5,163,814$ 231,783,407$ 25,611,391$ 1,781,548,109$

2032 1,781,548,109$ 158,105,743$ 13,106,732$ 8,776,907$ 179,989,381$ 23,359,695$ 1,624,918,422$

2033 1,624,918,422$ 210,390,681$ 9,461,413$ 44,412,522$ 264,264,616$ 19,845,952$ 1,380,499,758$

2034 1,380,499,758$ 179,159,719$ 41,167,376$ 8,520,713$ 228,847,807$ 16,797,535$ 1,168,449,486$

2035 1,168,449,486$ 62,400,683$ 76,977,897$ 6,166,832$ 145,545,413$ 14,919,670$ 1,037,823,743$

2036 1,037,823,743$ 54,142,338$ 63,960,743$ 4,978,799$ 123,081,880$ 13,342,059$ 928,083,922$

2037 928,083,922$ 53,080,901$ 66,997,426$ 4,963,893$ 125,042,220$ 11,712,845$ 814,754,547$

2038 814,754,547$ 49,191,187$ 60,945,951$ 5,314,304$ 115,451,442$ 10,199,755$ 709,502,861$

2039 709,502,861$ 40,973,190$ 14,926,263$ 6,095,380$ 61,994,833$ 9,444,293$ 606,470,103$ (5) 2040 606,470,103$ 7,928,781$ 1,015,152$ 8,884,482$ 17,828,415$ 8,585,692$ 579,441,040$

2041 579,441,040$ 394,604$ 7,501,957$ 7,896,560$ 8,336,319$ 572,016,083$

2042 572,016,083$ 394,529$ 7,091,223$ 7,485,752$ 8,234,014$ 565,285,466$

2043 565,285,466$ 392,711$ 6,719,592$ 7,112,303$ 8,141,290$ 558,601,273$

2044 558,601,273$ 405,231$ 7,055,267$ 7,460,498$ 8,038,719$ 552,330,600$

2045 552,330,600$ 7,753,269$ 7,753,269$ 7,942,987$ 544,165,646$

2046 544,165,646$ 7,054,610$ 7,054,610$ 7,834,087$ 538,502,091$

2047 538,502,091$ 6,472,189$ 6,472,189$ 7,759,975$ 532,716,313$

2048 532,716,313$ 7,102,748$ 7,102,748$ 7,666,389$ 526,788,836$

2049 526,788,836$ 6,476,666$ 6,476,666$ 7,589,065$ 520,823,192$

2050 520,823,192$ 8,356,283$ 8,356,283$ 7,474,637$ 512,196,841$

2051 512,196,841$ 6,448,120$ 6,448,120$ 7,376,649$ 506,075,848$

2052 506,075,848$ 7,054,610$ 7,054,610$ 7,278,524$ 499,856,730$

2053 499,856,730$ 6,524,804$ 6,524,804$ 7,195,542$ 493,401,339$

2054 493,401,339$ 7,078,679$ 7,078,679$ 7,093,308$ 486,948,893$

2055 486,948,893$ 7,815,723$ 7,815,723$ 6,988,445$ 477,704,515$

2056 477,704,515$ 7,054,610$ 7,054,610$ 6,864,711$ 471,071,585$

2057 471,071,585$ 6,476,666$ 6,476,666$ 6,776,396$ 464,293,271$

2058 464,293,271$ 7,078,679$ 7,078,679$ 6,668,749$ 457,416,266$

2059 457,416,266$ 6,496,257$ 6,496,257$ 6,576,939$ 450,399,339$

2060 450,399,339$ 8,244,345$ 8,244,345$ 6,449,096$ 440,835,342$

2061 440,835,342$ 6,476,666$ 6,476,666$ 6,335,382$ 433,616,014$

2062 433,616,014$ 7,190,617$ 7,190,617$ 6,219,670$ 426,202,036$

2063 426,202,036$ 6,448,120$ 6,448,120$ 6,122,363$ 418,826,757$

2064 418,826,757$ 7,078,679$ 7,078,679$ 6,005,593$ 411,286,596$

2065 411,286,596$ 8,347,659$ 8,347,659$ 5,877,106$ 399,867,006$

2066 399,867,006$ 7,962,289$ 7,962,289$ 5,716,165$ 390,270,198$

2067 390,270,198$ 9,091,593$ 9, 091,593$ 5,559,719$ 377,045,329$

2068 377,045,329$ 10,166,978$ 10,166,978$ 5,351,141$ 362,674,093$

2069 362,674,093$ 9,509,140$ 9,509,140$ 5,151,123$ 348,285,805$

2070 348,285,805$ 11,267,320$ 11,267,320$ 4,915,617$ 331,197,129$

2071 331,197,129$ 10,932,199$ 10,932,199$ 4,671,256$ 314,920,754$

2072 314,920,754$ 23,592,991$ 23,592,991$ 4,249,190$ 277,722,091$

2073 277,722,091$ 20,990,173$ 20,990,173$ 3,744,589$ 243,006,936$

2074 243,006,936$ 15,674,064$ 15,674,064$ 3,315,786$ 214,974,594$

2075 214,974,594$ 8,912,888$ 8,912,888$ 3,005,534$ 200,154,351$

2076 200,154,351$ 2,257,434$ 2,257,434$ 2,886,445$ 198,525,929$

2077 198,525,929$ 2,283,685$ 2,283,685$ 2,862,311$ 196,820,869$

2078 196,820,869$ 1,322,268$ 1,322,268$ 2,851,464$ 197,027,798$

2079 197,027,798$ 1,322,268$ 1,322,268$ 2,854,483$ 197,237,745$

2080 197,237,745$ 1,387,458$ 1,387,458$ 2,856,594$ 197,319,422$

2081 197,319,422$ 62,731$ 62,731$ 2,877,107$ 200, 071,067$

$ 382,855,1381,285,342,836$ 515,620,695$ 2,183,818,669$ -$ 609,728,613$

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 27.072% effective tax rate on earnings.

4) Liquidated value of end of year 2023 trust value.

5) In 2039 when costs exceed the total projected value of the Unit 1 portion of the NDT, PG&E anticipates the Unit 2 portion to f und all work through the end of the project.