LIC-18-0025, Guarantee of Payment of Deferred Premiums for the Period of July 1, 2018 to June 30, 2019

Guarantee of Payment of Deferred Premiums for the Period of July 1, 2018 to June 30, 2019

ML18200A334
Person / Time
Site:	Fort Calhoun
Issue date:	07/19/2018
From:	Blome B Omaha Public Power District
To:	Document Control Desk, Office of Nuclear Reactor Regulation
References
LIC-18-0025
Download: ML18200A334 (3)

Text

10 CFR 140.21 Omaha Public Power District July 19, 2018 LIC-18-0025 U.S. Nuclear Regulatory Commission Attn: Document Control Desk Washington, DC 20555-0001 Fort Calhoun Station, Unit No. 1 Renewed Facility Operating License No. DPR-40 NRC Docket No. 50-285

Subject:

Guarantee of Payment of Deferred Premiums for the Period of July 1, 2018 to June 30, 2019 The Omaha Public Power District (OPPD) is provid ing the attached, "2017/2018 Statement of Cash Flow from Operations," as its guarantee of payment of deferred premiums for the period of July 1, 2018 to June 30, 2019. The Statement provides evidence that OPPD maintains a guarantee of payment of deferred premiums in the amount of $18.963 million for Fort Calhoun Station, Unit No.

1 in compliance with 10 CFR 140.11(a)(4).

The cash flow 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. Bradley H. Blome at 402-533-6041 .

Respectfully, Bradley H. Blome Director Licensing and Regulatory Assurance BHB/cac Attachment 1 c: K. M. Kennedy, NRC Regional Administrator, Region IV J. S. Kim, NRC Project Manager R. S. Browder, NRC Senior Health Physicist, Region IV

LIC-18-0025 Page 1 OMAHA PUBLIC POWER DISTRICT 2018/2019 Statement of Cash Flow From Operations {a)

{Dollars in Thousands)

Actual Projected 12 Months 12 Months ended 6/18 ended 6/19 Operating Revenues $1,193,008 $1,103,616 Rate Stabilization Transfer -42,500 -8,770 Interest Receipts (b) 5,245 9,968 Total Cash Receipts 1,155,753 1,104,814 Less: Operating Expenses (c) 849,460 797,204 Payments in Lieu of Taxes (c) 34,816 34,328 Funds Available for Debt Service 271,478 273,282 Less: Debt Service Payments (d) 130,639 131,525 Funds Available for Other Valid Corporate Purposes (e) $141,757 Average Quarterly Cash Flow $35,439 Percentage Ownership - Fort Calhoun Station, Unit No. 1 - 100%

LIC-18-0025 Page 2 Notes:

(a) The format of this cash flow statement is in accordance 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 valid corporate purposes. These purposes would include construction, nuclear fuel, working capital, and any other use of the funds to provide for an ongoing utility business. The payment of any funds for the NRC guarantee would fall into the third priority.

(b) Interest collections have been normalized to reflect 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 expenses 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 flow available for all other corporate purposes and have third priority on funds derived from operating revenues .

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 special construction and restricted funds in order to take advantage of potential opportunities and manage risks.

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

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