DCL-24-031, 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
Maureen R. Zawalick Vice President Business and Technical Services Diablo Canyon Power Plant P.O. Box 56 Avila Beach, CA 93424 805.545.4242 Maureen.Zawalick@pge.com A member of the STARS Alliance Callaway x Diablo Canyon x Palo Verde x Wolf Creek 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 Pacific Gas anti Elecmr: Company*
Document Control Desk PG&E Letter DCL-24-031 Page 2 A member of the STARS Alliance Callaway x Diablo Canyon x Palo Verde x Wolf Creek 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.
Document Control Desk PG&E Letter DCL-24-031 Page 3 A member of the STARS Alliance Callaway x Diablo Canyon x Palo Verde x Wolf Creek 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 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 0DUFK
PG&E Letter DCL-24-031 NRC Decommissioning Funding Status Report Diablo Canyon Power Plant - Units 1 (3411 MWt) and 2 (3411 MWt)
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.
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 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 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 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)
27.072%
A B
C D
E F
G H
I Year Beginning of Year Trust Balance License Termination Site Restoration Spent Fuel Management Total Cost (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 1,380,291,801 347,114,578 513,328,843 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.
5)
Diablo Canyon Power Plant - Unit 1 Decommissioning Cash Flow(1)
Estimated in Nominal/2024 Dollars 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 the project.
27.072%
A B
C D
E F
G H
I Year Beginning of Year Trust Balance License Termination Site Restoration Spent Fuel Management Total Cost (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 1,285,342,836 382,855,138 515,620,695 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)
Diablo Canyon Power Plant - Unit 2 Decommissioning Cash Flow(1)
Estimated in Nominal/2024 Dollars 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 the project.