LR-N15-0048, Submittal of Annual Property Insurance Status Report

Submittal of Annual Property Insurance Status Report

ML15089A427
Person / Time
Site:	Salem, Hope Creek
Issue date:	03/30/2015
From:	Duke P Public Service Enterprise Group
To:	Document Control Desk, Office of Nuclear Reactor Regulation
References
LR-N15-0048
Download: ML15089A427 (4)

Text

PSEG Nuclear LLC P.O. Box 236, Hancocks Bridge, NJ 08038-0236 10 CFR 140.21{e)

LR-N15-0049 March 30, 2015 U. S. Nuclear Regulatory Commission ATTN: Document Control Desk Washington, DC 20555-0001 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 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).

The 2014 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 2014 PSEG Power LLC Consolidated Statements of Cash Flows is a certified financial statement extracted from the PSEG 2014 Annual Report I Form 10-K. The Form 10-K is publicly available on the internet at the following Uniform Resource Locator (URL):

http://www.sec.gov/Archives/edgar/data/81033/000078878415000002

/pseg201410kq4. htm There are no regulatory commitments contained in this submittal.

March 30, 2015 10 CFR 140.21 (e)

Page 2 LR-N15-0049 If you have any questions or require additional information, please contact Mr. Gary Wohler at 856-339-5020.

Sincerely,

.--) -

(____)

D r---

Paul R. Duke, Jr.

Manager - Licensing

. \

Attachment 1 - PSEG Power LLC Consolidated Statements of Cash Flows cc: Mr. D. Dorman, Administrator, Region I, NRC Ms. C. Sanders-Parker, Salem and Hope Creek Project Manager, NRC NRC Senior Resident Inspector, Salem NRC Senior Resident Inspector, Hope Creek Mr. P. Mulligan, Manager IV, NJBNE Corporate Commitment Tracking Coordinator Hope Creek Commitment Tracking Coordinator Salem Commitment Tracking Coordinator

LR-NlS-0049 Attachment 1 PSEG Power LLC Consolidated Statements of Cash Flows

LR-N15-0049 PSEG POWER LLC CONSOLIDATED STATEMENTS OF CASH FLOWS

.Millions Years Ended December 31, 2014 2013 2012 CASH FLOWS FROM OPERATING ACTIVITIES Net Income $ 760 $ 644 $ 666 Adjustments to Reconcile Net Income toN et Cash Flows from Operating Activities:

Depreciation and Amortization 292 273 242 Amortization of Nuclear Fuel 200 192 173 Provision for Deferred Income Taxes and ITC 221 122 397 Interest Accretion on Asset Retirement Obligation 30 23 21 Net Realized and Unrealized (Gains) Losses on Energy Contracts and Other Derivatives (93) 79 63 Non-Cash Employee Benefit Plan Costs 13 66 70 Net Realized (Gains) Losses and (Income) Expense from NDT Fund (166) (104) ( 1 18)

Net Change in Certain Current Assets and Liabilities:

Fuel, Materials and Supplies 19 (8) 47 Margin Deposit (22) (43) (116)

Accounts Receivable (15) (4) 24 Accounts Payable (59) 28 93 AccOlmts Receivable/Payable-Mfiliated Companies, net 220 - (40)

Accrued Interest Payable - 2 (6)

Other Current Assets and Liabilities (6) 70 (17)

Employee Benefit Plan Funding and Related Payments . (7) (46) (72)

Other 38 53 26 Net Cash ProvidedBy (Used In) Operating Activities 1,425 1,347 1,453.

CASH FLOWS FROM INVESTING ACTIVITIES Additions to Property, Plant and Equipment (626) (609) ( 770)

Proceeds from Sales of Available-for-Sale Securities 1,55 7 1,084 1,478 Investments in Available-for-Sale Securities (1,573) (1,102) (1,506)

Short-Term Loan-Affiliated Company, net 206 (216) 333 Other (88) (18) (7)

Net Cash Provided By (Used In) Investing Activities (524) (861) (472)

CASH FLOWS FROM FINANCING ACTIVITIES Issuance of Recourse LongTerm Debt - 500 -

Cash Dividend Paid (895) (705) (619)

Redemption ofLong-Term Debt - (300) (414)

Contributed Capital - 24 69 Cash Payment on Debt Redemption/Exchange - - (15)

Other (3) (6) (7)

Net Cash Provided By (Used In) Financing Activities (898) (487) (986)

Net Increase (Decrease) in Cash and Cash Equivalents 3 (1) (5)

Cash and Cash Equivalents at Beginning of Period 6 7 12 Cash and Cash Equivalents at End of Period $ 9 $ 6 $ 7 Supplemental Disclosure of Ca?h Flow Information:

Income Taxes Paid (Received) . $ 68 $ 29 1 $ 81 Interest Paid, Net of Amounts Capitalized $ 119 $ 106 $ 119 Accrued Property, Plant and Equipment Expenditures $ 91 $ 90 $ 95 See disclosures regarding PSEG Power LLC included in the Notes to Consolidated Financial Statements.