LR-N13-0066, Guarantees of Payment of Deferred Premiums

Guarantees of Payment of Deferred Premiums

ML13081A417
Person / Time
Site:	Salem, Hope Creek
Issue date:	03/22/2013
From:	Duke P Public Service Enterprise Group
To:	Document Control Desk, Office of Nuclear Reactor Regulation
References
LR-N13-0066
Download: ML13081A417 (4)

Text

PSEG Nuclear LLC P.O. Box 236, Hancocks Bridge, NJ 08038-0236 PSE(.

NuclearLLG 10 CFR 140.21(e)

LR-N 13-0066 March 22, 2013 U. S. Nuclear Regulatory Commission ATTN: Document Control Desk l --WashingJt0n,-GG20555-0001-------*

Salem Generating Station, Units 1 and 2 Renewed Facility Operating License Nos. DPR-70 and DPR-75 NRC Docket Nos. 50-272 and 50-311 Hope Creek Generating Station Renewed Facility Operating License No. NPF-57 NRC Docket No. 50-354

Subject:

Guarantees of Payment of Deferred Premiums PSEG Nuclear LLC (PSEG) as the licensee of the Salem Generating Station, Units 1 and 2 and the Hope Creek Generating Station, submits supporting documentation to satisfy the guarantee of payment of deferred premium requirements as provided under 10 CFR 140.21 (e) of the Regulations of the Nuclear Regulatory Commission.

The 2012 PSEG Power LLC Consolidated Statements of Cash Flows is included as Attachment 1 to meet the requirement to provide evidence that a cash flow can be generated and would be available for payment of retrospective premiums. The 2012 PSEG Power LLC Consolidated Statements of Cash Flows is a certified financial statement extracted from the PSEG 2012 Annual Report I Form 10-K. The Form 10-K is publicly available on the internet at the following Uniform Resource Locator (URL):

http://investor.pseg .com/phoen ix.zhtml?c=99807 &p=1 ROL -reportsannual There are no regulatory commitments contained in this submittal.

MAR 22 201a LR-N13-0066 10 CFR 140.21(e)

Page 2 If you have any questions or require additional information, please contact Mrs. Emily Bauer at 856-339-1023.

Sincerely, QJ~~

Paul R. Duke, Jr.

Manager - Licensing - PSEG Power LLC Consolidated Statements of Cash Flows cc: ... Mr~W:-Dean, 7\dmin istrator;-Regimn;N RC-- - - - - - - ----- ------ - --------

Mr. J. Hughey, Project Manager, NRC NRC Senior Resident Inspector, Salem NRC Senior Resident Inspector, Hope Creek Mr. P. Mulligan, Manager IV, NJBNE Mr. L. Marabella, Corporate Commitment Tracking Coordinator Mr. P. Bonnett, Hope Creek Commitment Tracking Coordinator Mr. T. Cachaza, Salem Commitment Tracking Coordinator

Attachment 1 PSEG Power LLC Consolidated Statements of Cash Flows i

--I

PSEG POWER LLC CONSOLIDATED STATEMENTS OF CASH FLOWS Millions Years Ended December 31, 2012 2011 2010 CASH FLOWS FROM OPERATING ACTIVITIES Net Income. $ 647 $ 1,098 $ 1,143 Adjustments to Reconcile Net Income to Net Cash Flows from Operating Activities:

Gain on Disposal ofDiscontinlted Opet"ations (122)

Depreciation and Amortization 237 231 194 Amortization of Nuclear Fuel 173 153 136 Provision for Deferred Income Taxes and ITC 342 231 650 Interest Accretion on Asset Retil'ement Obligation 21 18 18 Net Realized and Unrealized (Gains) Losses on Energy Contracts and Other Derivatives 63 (165) 50

},[on.Cash Employee Benefit Plan Costs 70 41 7i Net Realized (Gains) Losses and (Income) Expense from NDT Fund (118) (117) (l06)

NetChange in Certain CUl'l'entAssets and Liabilities; Fuel, Materials and Supplies .C~.-~- ~.~_7_~ ...c._c(~~L~ __ . }35

--- Marglnbeposlt ----.---~---

(116) 49 (91)

Accounts Receivable 24 197 (105)

Accounts Payable ~2 (154) 17 Accounts Receivable/Payable-Affiliated Companies, net (40) 459 (386)

Ascrued Interest Payable (6)- (8) (3)

Other Current Assets and Liabilities (16) 38 (63)

Emp19Y~~13:~!ie£1t ~lan Ftll1 ding al1~Rel~tedPayments (n) . (129) (13~)

Other 31 18 38

_Net CashPrdv!ded.By(U~edtn)OperatIfig Activities 1,379 1,812 1,566 CASH FLOWS FROM INVESTING ACTIVITIES Additions to Property, Plant and Equipment (646) (757) (825)

Pl'o¢e:eQS :fr()tn*S~le of,Discontin~ed6perations 687 Proceeds from Sales of Available-for-Sale Securities 1,478 1,355 989 Investtnentsill Avallable-fot-Sale Securities (l,5bq) (1,3 soy (1,013)

Short-Term Loan~Affiliated Company, net 333 (509) (398) athel' (7) 26 42 Net Cash Provided By (Used In) Investing Activities (348) (578) (1,205)

CASH FLOWS FROM FINANCING ACTIVITIES Issuance of Recourse Long-Term Debt 544 594 Cash Dividend Paid (GOP) (500) (519)

Redemption of Long-Term Debt (414) (1,250) (248)

ShQrt~~~rm~()a!1=-Aff1Hat~d Company, net .... (J9.~)

Cash Payment on Debt Redemption/Exchange (15) (17) (13)

Other (7) (10) C+)

Net Cash Provided By (Used In) Financing Activities (1,036) (1,233) (414)

N~t.r~crease(Decrease2in Cash and Cash Equtvalellts .(5) 1 .* (53)

Cash and Cash Equivalents at Beginning of Period 12 11 64 C1:lSh~fi~t;.9ash Equiyalents at End ofPerlod $ 7$' 12 $ n Supplemental Disclosure of Cash Flow Information:

Income Taxes Paid (Received) $ 136 $ 171 $ 539

+nterest paid, Net of Amounts Capitalized $ 119 $ 116 $ 151 Accrued Property, Plant and Equipment Expenditures $ 95 $ 132 $ 111 See disclosures regarding PSEG Power LLC included in the Notes to Consolidated Financial Statements.

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