LIC-13-0108, Guarantee of Payment of Deferred Premiums for the Period of July 1, 2013 to June 30, 2014

Guarantee of Payment of Deferred Premiums for the Period of July 1, 2013 to June 30, 2014

ML13212A350
Person / Time
Site:	Fort Calhoun
Issue date:	07/31/2013
From:	Simpkin T Omaha Public Power District
To:	Office of Nuclear Reactor Regulation, Document Control Desk
References
LIC-13-0108
Download: ML13212A350 (3)

Text

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"pii Omaha Public Power District 444 South 161h Street Mall Omaha, NE 68102-2247 July 31, 2013 LlC-13-0108 U. S. Nuclear Regulatory Commission Attn: Document Control Desk Washington, DC 20555-0001

Reference:

Docket No. 50-285

SUBJECT:

Guarantee of Payment of Deferred Premiums for the Period of July 1,2013 to June 30,2014 The Omaha Public Power District (OPPD) is providing the attached, "2013/2014 Statement of Cash Flow from Operations," as its guarantee of payment of deferred premiums for the period of July 1, 2013 to June 30, 2014. The Statement provides evidence that OPPD maintains a guarantee of payment of deferred premiums in the amount of $17.5 million for Fort Calhoun Station, Unit No.1 in compliance with 10 CFR 140.21.

The cash How statement deviates slightly "from the format of NRC Regulatory Guide (RG) 9.4 because OPPD is a political subdivision of the State of Nebraska. However, the pertinent information identified in RG 9.4 is provided. A copy of Bond Resolution 1788, which established the payment priorities listed on the cash flow statement, was filed with our 1979 guarantee report.

No commitments are made to the NRC in this letter. If you should have any questions, please contact Mr. Bill Hansher at (402) 533-6894.

Sincerely,

~~ Manager-Site Regulatory Assurance TWS/MGB/mle Attachment Employment with Equal Opportunity

Attachment LIC-13-0108 Page 1 OMAHA PUBLIC POWER DISTRICT 2013/2014 Statement of Cash Flow From Operations (a)

(Dollars in Thousands)

Actual Projected 12 Months 12 Months ended 5/13 ended 6/14 Operating Revenues $1,046,116 $1,157,998 Debt Retirement Transfer -$13,000 $17,000 Interest Receipts (b) $805 $832 Total Cash Receipts $1,033,921 $1,175,830 Less: Operating Expenses (c) $765,896 $853,204 Payments in Lieu of Taxes (c) $30,094 $33,416 Funds Available for Debt Service $237,931 $289,210 Less: Debt Service Payments (d) $107,982 $124,423 Funds Available for Other Valid Corporate Purposes (e) $129,949 $164,787 Average Quarterly Cash Flow (f) $32,487 $41,197 Percentage Ownership - Fort Calhoun Power Station Unit No. 1 - 100%

Attachment LIC-13-0108 Page 2 Notes:

(a) The format of this cas h flow stat ement is in accordanc e with the payment priorities as established by Bond Resolution 1788. The payment priority scheduled for funds realized from operations is as follows:

First Priority: Operations and maintenance expenses and payments in lieu of taxes.

Second Priority: Debt service (principal and interest) on all outstanding bonds.

Third Priority: All other v alid corporate purposes. These purposes would include construction, nuclear fuel, working capital, and any other use of the funds to provide for an ongoin g utility business. The payment of any funds for the NRC guarantee would fall into the third priority.

(b) Interest collections have been normalized to re flect only the types of interest collections from normal ongoing funds and do not reflect any interest collections made from special construction funds.

(c) Operating and maintenance exp enses and payments in lieu of taxes have first priority on use of funds derived from operating revenues.

(d) Debt service payments have second priority on the use of funds derived from operating revenues.

(e) These funds represent the internal cash fl ow available for all other corporate purposes and have third priority on funds derived from operating revenues.

(f) Cash flow is based on projected re-start of the Fort Calhoun Station Unit No. 1 and may be further evaluated based on actual start-up date.

Supplementary General Statements:

The following statements are offered to explain some of the District's policies as they relate to its financial management:

The District maintains a working fund balance of approximately 100-days of cash on hand in addition to spec ial construction and rest ricted funds in order to take advantage of potential opportunities and manage risks.

As an all-public power state, Nebraska does not have a st ate commission with electric rate jurisdiction.

The District's Board of Directors is empowered to establish electric rates.