L-03-039, Firstenergy - Retrospective Premium Guarantee

Firstenergy - Retrospective Premium Guarantee

ML030780841
Person / Time
Site:	Beaver Valley, Davis Besse, Perry
Issue date:	03/06/2003
From:	Scilla R FirstEnergy Corp
To:	Dinitz I Office of Nuclear Reactor Regulation
References
BV-No. L-03-039, DB-Serial No.-2941, PY-CEI/NRR-2698L
Download: ML030780841 (2)

Text

76 South Main Street

___________ Akron, Ohio 44308-1890 Randy Scllla 330-384-5202 Assistant Treasurer Fax: 330-384-3772 March 6, 2003 PY-CEI/NRR-2698L DB-Serial No.-2941 BV-No. L-03-039 Mr. Ira Dinitz U.S. Nuclear Regulatory Commission Office of Nuclear Reactor Regulation Washington, D.C. 20555 Dear Mr. Dinitz; Re: Docket Nos. 50-346, 50-440, 50-412, 50-334 Retrospective Premium Guarantee FirstEnergy Corp. (parent of The Cleveland Electric Illuminating Company, The Toledo Edison Company, Ohio Edison Company, and Pennsylvania Power Company) hereby provides the documents described below as evidence of its guarantee of the retrospective premiums, which may be served against the Davis-Besse Unit No. 1 ($10,000,000), Perry Unit No. 1

($10,000,000), Beaver Valley Unit No. 1 ($10,000,000) and Beaver Valley Unit No. 2

($10,000,000) reactor licenses, per Section 140.21 of 10 CFR Part 140.

(1) A 2003 Internal Cash Flow Projection for FirstEnergy Corp. certified by the Assistant Treasurer of the Company.

(2) FirstEnergy Corp. Annual Report for 2002 will be provided when available.

Very truly yours, cl Enclosures S \Treasury\Shr.Trs\Rnancial Studles'Jmmn\NRC Filing Cover Letter '03 doc

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FIRSTENERGY CORP.

2003 INTERNAL CASH FLOW PROJECTION FOR DAVIS-BESSE UNIT NO. 1, PERRY UNIT NO. 1, AND BEAVER VALLEY UNIT NOS. 1 AND 2 NUCLEAR POWER PLANTS (Dollars in Thousands) 2003 Projected Cash Flows:

Retained Earnings, Depreciation and Amortization $1,858,000 Deferred Income Taxes and Investment Tax Credits 12,000 Allowance for Funds Used (25,000)

During Construction and Carrying Charges Deferred Operating Expenses Net Cash Flows $2,112,000 Internal Cash Flow $2,112,000 Average Quarterly Cash Flow $528,000 Percentage Ownership in Units:

Davis-Besse Unit No. I 100.00%

Perry Unit No. 1 100.00%

Beaver Valley Unit No. 2 100.00%

Beaver Valley Unit No. 1 100.00%

Maximum Total Contingent Liability $40,000 CERTIFICATION

.I, S Randy Scilla, Assistant-Treasurer of FirstEniergy Corp., hereby certifies that the foregoing-Internal Cash Flow Projection for calendar year 2003 is derived from reasonable assumptions and is a reasonable estimate.

Date Kandy Scilla Shr TresFinancial Studies\jmnn\NRC Faling-03-cl doc or CAL\NRC-Filing-cl doc