LR-N22-0023, Guarantees of Payment of Deferred Premiums

Guarantees of Payment of Deferred Premiums

ML22080A239
Person / Time
Site:	Salem, Hope Creek
Issue date:	03/21/2022
From:	Montgomery R Public Service Enterprise Group
To:	Document Control Desk, Office of Nuclear Reactor Regulation
References
LR-N22-0023
Download: ML22080A239 (4)

Text

PSEG Nuclear LLC P.O. Box 236, Hancocks Bridge, New Jersey 08038-0236 0 PSEG Nlt r/ea ,. /,LC LR-N22-0023 10 CFR 140.21(e)

March 21, 2022 U.S. Nuclear Regulatory Commission ATTN: Document Control Desk Washington, DC 20555-0001 Hope Creek Generating Station Renewed Facility Operating License No. NPF-57 NRC Docket No. 50-354 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

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 guarantees of payment of deferred premium requirements as provided under 10 CFR 140.21(e).

The 2021 Public Service Enterprise Group (PSEG) Consolidated Statements of Cash Flows are 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 2021 PSEG Consolidated Statements of Cash Flows are a certified financial statement extracted from the PSEG 2021 Annual Report I Form 10-K. The Form 10-K is publicly available on the internet at the following Uniform Resource Locator (URL):

https://www.sec.gov/ix?doc=/Archives/edgar/data/788784/000162828022003860/pseg -

20211231.htm 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, Richard Montgomery Manager - Licensing PSEG Nuclear LLC

LR-N22-0023 10 CFR 140.21(e)

Page 2 - 2021 PSEG 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-N22-0023 Attachment 1 2021 PSEG Consolidated Statements of Cash Flows

LR-N22-0023 2021 Public Service Enterprise Group Incorporated Consolidated Statements of Cash Flows Millions Years Ended December 31, 2021 2020 2019 CASH FLOWS FROM OPERATING ACTIVITIES Net Income (Loss) $ (648) s 1,905 $ 1,693 Adjusnnents to Reconcile Net Income (Loss) to Net Cash Flows from Operating Activities:

Depreciation and Amortization 1,216 1,285 1,248 Amortization ofNuc.lear Fuel 187 184 178 (Gains) Losses on Asset Dispositions and Impairments 2,637 (123) 402 Loss on fa1inguislunent of Debt 298 Emission Allowances and Renewable Energy Credit (REC) Compliance Aocrual 138 151 108 Provision for Deferred Income Taxes (Othe.r than Leases) and ITC (817) 139 180 Non-Cash Employee Benefit Plan (Credits) Costs (178) (105) (48)

Leveraged Lease (lnc.ome), (Gains) and Losses, Adjusted for Rents Recei ved and Deferred Taxes (11) (135) 18 Net Realized and Unrealized (Gains) Losses on Energy Contracts and Other Derivatives 614 80 (290)

Cost of Removal (121) (106) (108)

Net Change in Regulatory Assets and Liabilities (271) (101) 25 Net (Gains) Losses and (Income) Expense. from NDT Fund (229) (278) (296)

Net Change in Certain Current Assets and Liabilities:

Tax Receivable 56 107 77 Ac.cmed Taxes (127) 124 (9)

Cash Collater al (790) (10) 349 Other Current Assets and Liabilities (238) 73 (145)

Employee Benefit Plan Funding and Related Paymen ts (25) (18) (39)

Other 45 (70) 36 Net Cash Provided By (Used In) Ope.rating Activities 1,736 3,102 3,379 CASH FLOWS FROM INVESTING ACTIVITIES Additions to Property, Plant and Equipment (2,7 19) (2,923) (3,166)

Purchase of Emissions Allowances and RECs (98) (1 11) (98)

Procttds from Sales of Trust Investments 2,100 2,234 1,787 Pmc.hases of Trust Investments (2,092) (2,250) (1 ,814)

Proc.ee.ds from Sales of Long-Lived Assets and Lease Investme.uts 569 301 70 Contributions to Equity Method Invesnnents (111)

Other 107 73 76 Net Cash Provided By (Used In) Investing Activities (2,244) (2,676) (3,145)

CASH FLOWS FROM FINANCING ACTIVITIES Net Change in Commercial Paper 256 (352) 99 Proceeds from Short-Terrn Loans 2,500 800 Repayment of Short-Term Loans (300) (500)

Issuance of Long-Term Debt 2,825 2,450 1,900 Redemption of Long-Term Debt (3,082) (1,365) (1 ,250)

Premi,un Paid on Early Extinguishment of Debt (294)

Cash Dividends Paid on Common Stock (1,031) (991) (950)

Other (75) (72) (56)

Net Cash Provided By (Used In) Financing Activities 7'}9 (30) (257)

Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 291 396 (23)

Cash, Cash Equivalents and Restricted Cash at Beginning of Period 572 176 199 Cash, Cash Equivalents and Restricted Cash at End of Period $ 863 s 572 $ 176 Supplemental Disclosure of Cash Flow Information:

Income Taxes Paid (Received) $ 425 s 297 $ 41 Inter est Paid, Net of Amounts Capitalized $ 547 s 568 $ 539 Accrued Prope.rty, Plaut and Equipmen t Expenditures $ 331 s 387 $ 499