LR-N21-0017, & Salem Generating Station, Units 1 and 2 - Guarantees of Payment of Deferred Premiums

& Salem Generating Station, Units 1 and 2 - Guarantees of Payment of Deferred Premiums

ML21075A006
Person / Time
Site:	Salem, Hope Creek
Issue date:	03/15/2021
From:	Duke P Public Service Enterprise Group
To:	Document Control Desk, Office of Nuclear Reactor Regulation
References
LR-N21-0017
Download: ML21075A006 (4)

Text

PSEG Nucfoar :t:.LC P.O. Box 236, Hancocks llridge, New Jersey 0803:80236 PSt:G NudtarLLC LR- N21-0017 10 CFR 140.21(e)

March 15, 2021 U. S. Nuclear Regulatory Commission ATTN: Document Control Desk Washington DC 20555-0001 Hope Creek Generating Station Renewed Facility O p erating License No. NPF-57 NRG Docket No. 50-354 Salem Generating Station, Units 1 and 2 Renewed Facility O perating License Nos. DPR-70 and [)PR-75 NRG Docket Nos. 50-272 and 50-311 S u bj ect : 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 defe rred premium requirements as provided under 10 CFR 140.21 {e).

The 2020 PSEG Power LLC Consolidated Statements of Cash Flows are included as Atta ch ment 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 2020 PSEG Power LLC Consolidated Statements of Cash Flows are a certified financial statement extracted from the PSEG 2020 Annual Re p o rt I Form 10-K. The Fo rm 10-K is p ubl icly available on the internet at the following Uniform Resource Locator (URL):

https://sec.report/Document/0000788784-21-000007I There are no regulatory commitments contained in this submittal. If you have any questions or require additional information, please contact Mr. Michael Wiwel at 856-339-7907.

Respectfully, Paul R. Duke, Jr.

Manager - Licensing PSEG Nuclear LLC

Page 2 10 CFR 140.21(e)

LR-N21-0017 - PSEG Power LLC Consolidated Statements of Cash Flows cc: Administrator, Region I, NRC Mr. J. Kim, Project Manager, NRC NRC Senior Resident Inspector, Hope Creek NRC Senior Resident Inspector, Salem Ms. A. Pfaff, Manager, NJBNE PSEG Corporate Commitment Tracking Coordinator Site Commitment Tracking Coordinator

LR-N21-0017 Attachment 1 PSEG Power LLC Consolidated Statements of Cash Flows

LR-N21-0017 PSEG POWER LLC CONSOLIDATED STATEMENTS OF CASH FLOWS Millions Years Ended Decemb,er 3 1, 2020 20 19 20 18 CASH FLOWS FROM OPERATING ACTIVITlES Net Income s 594 s 468 s 365 Adj ustments to Reconcile Net In come to Net Cash Flows from Operating Activities:

Depreciation and Amortization 368 377 354 Amortization of Nuclear Fuel 184 178 187 (Gain) Loss on Asset Dispositions (122) 402 (54)

Emission Allowances and Renewable Energy Credit ( REC) Compliance Accrual 151 108 97 Provision for Deferred Income Taxes and ITC 60 248 206 Non-Cash Employee Benefit Plan Costs (5) 7 23 Interest Accretion on Asset Ret~rement Obligation 42 40 41 Net Realized and Unrealized (Gains) Losses on Energy Contracts and Other Derivatives 80 (290) 116 Net (Gains) Losses and (Income) Expen.<e from NOT Fund (278) (296) 98 Net Change in Certain Current As.sets and Liabilities Fuel, Materials and Supplies 18 (1) (39)

Cash Colla teral ( 10) 349 (247)

Accounts Receivable 19 (32) 51 Accounts Payable (23) 5 ( 13)

Accounts Receivable/Payable-Affiliated Companies. net 90 (112) (56)

Other Current Assets and Liabilities (3) 14 (40)

Employee Benefit Plan Funding and Related Payments (8) ( 11) (9)

Other (46) 25 4 Net Cash Provided By (Used In} Operating Activities 1,111 1,479 1,084 CASH FLOWS FROM INVESTING ACTIVITIES Additions to Property, Plant and Equipment (404) (607) (996)

Purchase of Emissions Allowaoces and RECs ( 111) (98) (146)

Proceeds from Sales of Trust Investments 2,083 1,658 1,423 Purchases of Trust Investments (2,097) (1,685) (1 ,392)

Proceeds from Sales of Long-Lived Assets 151 70 21 Short-Tenn Loan to Affiliate ( 12) (149)

Other 42 50 39 Net Cash Provided By (Used In) Investing Activities (348) (761) (1 ,051)

CASH FLOWS FROM FINANCING ACTIVITIES Issuance of Long-Tenn Debt 700 Cash Dividend Paid (350) (525) (400)

Redemption of Long-rcnn Debt (406) (250)

S hort-Tenn Loan from Affiliate: (193) (88)

Other (I) (I) (5)

Net Cash Provided By (Used In) Financing Activities (757) (7 19) (43)

Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 6 (I) ( 10)

Cash, Cash Equivalents and Restricted Cash at Beginning of Period 21 22 32 Cash, Cash Equivalents and Restricted Cash at End of Period s 27 s 21 s 22 Supplemental Disclosure or Cash Flow Information:

Income Taxes Paid (Received) $ 127 s (41) s (92)

Interest Paid, Net or Amounts Capitalized s 119 s 113 s 73 Accrued Property, Plant and Equipment Expenditures $ 64 s 164 s 167