LR-N16-0071, Guarantees of Payment of Deferred Premiums

Guarantees of Payment of Deferred Premiums

ML16089A025
Person / Time
Site:	Salem, Hope Creek
Issue date:	03/29/2016
From:	Duke P Public Service Enterprise Group
To:	Document Control Desk, Office of Nuclear Reactor Regulation
References
LR-N16-0071
Download: ML16089A025 (5)

Text

PSEG Nuclear LLC P.O. Box 236, Hancocks Bridge, NJ 08038-0236 MAR 2 9 2016 NuckarLLC 10 CFR 140.21(e)

LR-N16-0071 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 2015 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 2015 PSEG Power LLC Consolidated Statements of Cash Flows is a certified financial statement extracted from the PSEG 2015 Annual Report I Form 1 0-K. The Form 1 0-K is publicly available on the internet at the following Uniform Resource Locator (URL):

http://www .sec.gov/Archives/edgar/data/81033/000078878416000014/pseg20151 Okq4.htm There are no regulatory commitments contained in this submittal.

Page 2 10 CFR 140.21(e)

LR-N16-0071 If you have any questions or require additional information, please contact Ms. Tanya Timberman at 856-339-1426.

Sincerely, Paul R Duke, Jr.

Manager - Licensing - PSEG Power LLC Consolidated Statements of Cash Flows cc: Mr. D. Dorman, Administrator, Region I, NRC Mr. T. Wengert, Project Manager, NRC NRC Senior Resident Inspector, Salem NRC Senior Resident Inspector, Hope Creek Mr. P. Mulligan, Chief, NJBNE Corporate Commitment Tracking Coordinator Hope Creek Commitment Tracking Coordinator Salem Commitment Tracking Coordinator

LR-N 16-0071 Attachment 1 PSEG Power LLC Consolidated Statements of Cash Flows

LR-N 16-0071 PSEG POWER LLC CONSOLIDATED STATEMENTS OF CASH FLOWS Millions Years Ended December 31, 2015 2014 2013 CASH FLOWS FROM OPERATING ACTIVITIES Net Income $ 856 $ 760 $ 644 Adjustments to Reconcile Net Income to Net Cash Flows from Operating Activities:

Depreciation and Amortization 291 292 273 Amortization of Nuclear Fuel 213 200 192 Provision for Deferred Income Taxes and ITC 261 221 1 22 Interest Accretion on Asset Retirement Obligation 26 30 23 Net Realized and Unrealized (G ains) Losses on Energy Contracts and Other Derivatives (143) (93) 79 Non-Cash Employee Benefit Plan Costs 48 13 66 Net Realized (Gains) Losses and (Income) Expense from NDT Fund (38) (166) (104)

Net Change in Certain Current Assets and Liabilities:

Fuel, Materials and Supplies 62 19 (8)

Margin Deposit 122 (22) (43)

Accounts Receivable 63 (15) (4)

Accounts Payable (46) (59) 28 Accounts Receivable/Payable-Affiliated Companies, net (84) 220 Other Current Assets and Liabilities (36) (6) 72 Employee Benefit P lan Fundirtg and Related Payment s (1 1) (7) (46)

Other 122 38 53 Net Cash Provide d By (Used Irt) Operating Activities 1,706 1,425 1,347 CASH FLOWS FROM INVESTING ACTIVITIES Additions to Property, Plant artd Equiplhent (1 ,117) (626) (609)

Proceeds from Sales of Available-for-Sale Securities 1,422 1,557 1,084 Investments in Available-f01;-Sale Securities (1,455) (1,573) (1,102)

Short-Term Loan-Affiliated Company, net 221 206 (216)

Other (72) (88) (18)

Net Cash Provided By (Used In) Investing Activities (1,001) (524) (861)

CASH FLOWS FROM FINANCING ACTIVITIES Issuance of Long-Terlh Debt 500 Cash Dividend Paid (400) (895) (705)

Redemp tion of Long-Term Debt (300) (300)

Contributed Capital 24 Other (2) (3) (6)

Net Cash Provided By (Used In) Financing Activities (702) (898) (487)

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

Cash and Cash Equivalents at Beginning of Period 9 6 7

LR-N16-0071 Years Ended December 31, 2015 2014 2013 CASH FLOWS FROM FI NANCING ACTIVITIES Cash and Cash Equivalents at Beginning of Period 6 7 riocl See disclosures regarding PSEG Power LLC included in the Notes to Consolidated Financial Statements.

PSEG Nuclear LLC P.O. Box 236, Hancocks Bridge, NJ 08038-0236 MAR 2 9 2016 NuckarLLC 10 CFR 140.21(e)

LR-N16-0071 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 2015 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 2015 PSEG Power LLC Consolidated Statements of Cash Flows is a certified financial statement extracted from the PSEG 2015 Annual Report I Form 1 0-K. The Form 1 0-K is publicly available on the internet at the following Uniform Resource Locator (URL):

http://www .sec.gov/Archives/edgar/data/81033/000078878416000014/pseg20151 Okq4.htm There are no regulatory commitments contained in this submittal.

Page 2 10 CFR 140.21(e)

LR-N16-0071 If you have any questions or require additional information, please contact Ms. Tanya Timberman at 856-339-1426.

Sincerely, Paul R Duke, Jr.

Manager - Licensing - PSEG Power LLC Consolidated Statements of Cash Flows cc: Mr. D. Dorman, Administrator, Region I, NRC Mr. T. Wengert, Project Manager, NRC NRC Senior Resident Inspector, Salem NRC Senior Resident Inspector, Hope Creek Mr. P. Mulligan, Chief, NJBNE Corporate Commitment Tracking Coordinator Hope Creek Commitment Tracking Coordinator Salem Commitment Tracking Coordinator

LR-N 16-0071 Attachment 1 PSEG Power LLC Consolidated Statements of Cash Flows

LR-N 16-0071 PSEG POWER LLC CONSOLIDATED STATEMENTS OF CASH FLOWS Millions Years Ended December 31, 2015 2014 2013 CASH FLOWS FROM OPERATING ACTIVITIES Net Income $ 856 $ 760 $ 644 Adjustments to Reconcile Net Income to Net Cash Flows from Operating Activities:

Depreciation and Amortization 291 292 273 Amortization of Nuclear Fuel 213 200 192 Provision for Deferred Income Taxes and ITC 261 221 1 22 Interest Accretion on Asset Retirement Obligation 26 30 23 Net Realized and Unrealized (G ains) Losses on Energy Contracts and Other Derivatives (143) (93) 79 Non-Cash Employee Benefit Plan Costs 48 13 66 Net Realized (Gains) Losses and (Income) Expense from NDT Fund (38) (166) (104)

Net Change in Certain Current Assets and Liabilities:

Fuel, Materials and Supplies 62 19 (8)

Margin Deposit 122 (22) (43)

Accounts Receivable 63 (15) (4)

Accounts Payable (46) (59) 28 Accounts Receivable/Payable-Affiliated Companies, net (84) 220 Other Current Assets and Liabilities (36) (6) 72 Employee Benefit P lan Fundirtg and Related Payment s (1 1) (7) (46)

Other 122 38 53 Net Cash Provide d By (Used Irt) Operating Activities 1,706 1,425 1,347 CASH FLOWS FROM INVESTING ACTIVITIES Additions to Property, Plant artd Equiplhent (1 ,117) (626) (609)

Proceeds from Sales of Available-for-Sale Securities 1,422 1,557 1,084 Investments in Available-f01;-Sale Securities (1,455) (1,573) (1,102)

Short-Term Loan-Affiliated Company, net 221 206 (216)

Other (72) (88) (18)

Net Cash Provided By (Used In) Investing Activities (1,001) (524) (861)

CASH FLOWS FROM FINANCING ACTIVITIES Issuance of Long-Terlh Debt 500 Cash Dividend Paid (400) (895) (705)

Redemp tion of Long-Term Debt (300) (300)

Contributed Capital 24 Other (2) (3) (6)

Net Cash Provided By (Used In) Financing Activities (702) (898) (487)

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

Cash and Cash Equivalents at Beginning of Period 9 6 7

LR-N16-0071 Years Ended December 31, 2015 2014 2013 CASH FLOWS FROM FI NANCING ACTIVITIES Cash and Cash Equivalents at Beginning of Period 6 7 riocl See disclosures regarding PSEG Power LLC included in the Notes to Consolidated Financial Statements.