ML021000103
| ML021000103 | |
| Person / Time | |
|---|---|
| Site: | Crystal River  |
| Issue date: | 03/28/2002 |
| From: | Morton T Florida Power Corp |
| To: | Document Control Desk, Office of Nuclear Reactor Regulation |
| References | |
| PE&RAS-02-026 | |
| Download: ML021000103 (11) | |
Text
SjFlorida Power A Progress Energy Company Serial: PE&RAS-02-026 March 28, 2002 United States Nuclear Regulatory Commission ATTENTION: Document Control Desk Washington, DC 20555 CRYSTAL RIVER UNIT 3 NUCLEAR GENERATING PLANT DOCKET NO. 50-302 / LICENSE NO. DPR-72 DECOMMISSIONING FUNDING STATUS REPORT Ladies and Gentlemen:
Florida Power Corporation (FPC) submits this report concerning the status of its financial assurance mechanisms for the decommissioning of Crystal River Unit 3 (CR-3) in accordance with 10 CFR 50.75(f)(1). As a convenience, the decommissioning funding statuses for the other CR-3 participants are also provided.
There are no new regulatory commitments made in this submittal. Please contact me at (919) 546-6901 if you need additional information concerning this report.
Sincerely.
Terry C. Morton Manager - Performance Evaluation & Regulatory Affairs RGH Attachment c:
L. A. Reyes, Regional Administrator - Region II USNRC Senior Resident Inspector - CR-3 E. L. Jacobs, Jr., Florida Public Service Commission J. M. Goshen, NRR Project Manager - CR-3 R. S. Wood (Mail Stop 011-F1)
United States Nuclear Regulatory Commission Attachment to PE&RAS-02-026 Page 1 Florida Power Corporation Status of Financial Assurance Mechanism Crystal River Nuclear Plant Docket No. 50-302 / License No. DPR-72
"* Amount of decommissioning funds estimated to be required pursuant to 10 CFR 50.75(b) and (c) and NUREG-1307, Rev. 9.
$297 million; at expiration of current license, December 3, 2016.
FPC share (91.7806%) = $273 million
"* The fund balance for the amount accumulated as of December 31, 2001
$393,083,222 The amount prorated for radiological decommissioning of residual radioactivity per 10 CFR 50.75 is $232,194,259.
"* Annual amounts remaining to be collected The annual accrual rate for radiological decommissioning, non-radiological decommissioning and high-level waste management is $7,654,524.
The annual accrual rate for radiological decommissioning is $4,521,527. FPC is accruing funds at a rate approved by the Florida Public Service Commission (FPSC) Order No. PSC-02-0055 PAA-EI, consummated January 30, 2002, effective January 1, 2001.
"* Assumptions Assumed Cost Escalation Rate
=
5.3%
Assumed Earnings Rate
=
6.0%
"* Contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v)
None
"* Modifications occurring to a licensee's current method of providing financial assurance since the last submitted report None Material changes to trust agreements None
United States Nuclear Regulatory Commission Attachment to PE&RAS-02-026 Page 2 City of Alachua Status of Financial Assurance Mechanism Crystal River Nuclear Plant Docket No. 50-302 / License No. DPR-72
"* Amount of decommissioning funds estimated to be required pursuant to 10 CFR 50.75(b) and (c) and NUREG-1307, Rev. 9.
$297 million; at expiration of current license, December 3, 2016.
City of Alachua share (0.0779%) = $232 thousand
"* The fund balance for the amount accumulated as of December 31, 2001
$256,337 The amount prorated for radiological decommissioning of residual radioactivity per 10 CFR 50.75 is $151,418.
"* Annual amounts remaining to be collected The annual accrual rate for radiological decommissioning, non-radiological decommissioning and high-level waste management is $18,350 for 2002 and $14,800 for 2003 and beyond.
The annual accrual rate for radiological decommissioning is $10,839 for 2002 and $8,742 for 2003 and beyond.
Assumptions Assumed Cost Escalation Rate
=
5.3%
Assumed Earnings Rate
=
5.5 % (on non-Forward Purchase Agreement funds) 7.422% (on Forward Purchase Agreement funds)
"* Contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v)
None
"* Modifications occurring to a licensee's current method of providing financial assurance since the last submitted report None
"* Material changes to trust agreements None
United States Nuclear Regulatory Commission Attachment to PE&RAS-02-026 Page 3 City of Bushnell Status of Financial Assurance Mechanism Crystal River Nuclear Plant Docket No. 50-302 / License No. DPR-72 Amount of decommissioning funds estimated to be required pursuant to 10 CFR 50.75(b) and (c) and NUREG-1307, Rev. 9.
$297 million; at expiration of current license, December 3, 2016.
City of Bushnell share (0.0388%) = $115 thousand The fund balance for the amount accumulated as of December 31, 2001
$131,805 The amount prorated for radiological decommissioning of residual radioactivity per 10 CFR 50.75 is $77,857.
Annual amounts remaining to be collected The annual accrual rate for radiological decommissioning, non-radiological decommissioning and high-level waste management is $8,350 for 2002 and $6,600 for 2003 and beyond.
The annual accrual rate for radiological decommissioning is $4,932 for 2002 and $3899 for 2003 and beyond.
Assumptions Assumed Cost Escalation Rate Assumed Earnings Rate 5.3%
5.5 % (on non-Forward Purchase Agreement funds) 7.422 % (on Forward Purchase Agreement funds)
Contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v)
None Modifications occurring to a licensee's current method of providing financial assurance since the last submitted report None Material changes to trust agreements None
United States Nuclear Regulatory Commission Attachment to PE&RAS-02-026 Page 4 City of Gainesville Status of Financial Assurance Mechanism Crystal River Nuclear Plant Docket No. 50-302 / License No. DPR-72
"* Amount of decommissioning funds estimated to be required pursuant to 10 CFR 50.75(b) and (c) and NUREG-1307, Rev. 9.
$297 million; at expiration of current license, December 3, 2016.
City of Gainesville share (1.4079%) = $4.188 million
"* The fund balance for the amount accumulated as of December 31, 2001
$4,249,421 The amount prorated for radiological decommissioning of residual radioactivity per 10 CFR 50.75 is $2,510,133.
"* Annual amounts remaining to be collected The annual accrual rate for radiological decommissioning, non-radiological decommissioning and high-level waste management is $364,000 for 2002 and $300,000 for 2003 and beyond.
The annual accrual rate for radiological decommissioning is $215,015 for 2002 and $177,210 for 2003 and beyond.
Assumptions Assumed Cost Escalation Rate
=
5.3%
Assumed Earnings Rate
=
5.5% (on non-Forward Purchase Agreement funds) 7.422 % (on Forward Purchase Agreement funds)
"* Contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v)
None
"* Modifications occurring to a licensee's current method of providing financial assurance since the last submitted report None
"* Material changes to trust agreements None
United States Nuclear Regulatory Commission Attachment to PE&RAS-02-026 Page 5 Kissimmee Utility Authority Status of Financial Assurance Mechanism Crystal River Nuclear Plant Docket No. 50-302 / License No. DPR-72 "Amount of decommissioning funds estimated to be required pursuant to 10 CFR 50.75(b) and (c) and NUREG-1307, Rev. 9.
$297 million; at expiration of current license, December 3, 2016.
Kissimmee Utility Authority share (0.6754%) = $2.009 million The fund balance for the amount accumulated as of December 31, 2001
$2,092,005 The amount prorated for radiological decommissioning of residual radioactivity per 10 CFR 50.75 is $1,235,747.
Annual amounts remaining to be collected The annual accrual rate for radiological decommissioning, non-radiological decommissioning and high-level waste management is $170,100 for 2002 and $140,000 for 2003 and beyond.
The annual accrual rate for radiological decommissioning is $100,478 for 2002 and $82,698 for 2003 and beyond.
Assumptions Assumed Cost Escalation Rate
=
5.3%
Assumed Earnings Rate
=
5.5 % (on non-Forward Purchase Agreement funds) 7.422% (on Forward Purchase Agreement funds)
"* Contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v)
None
"* Modifications occurring to a licensee's current method of providing financial assurance since the last submitted report None
"* Material changes to trust agreements None
United States Nuclear Regulatory Commission Attachment to PE&RAS-02-026 Page 6 City of Leesburg Status of Financial Assurance Mechanism Crystal River Nuclear Plant Docket No. 50-302 / License No. DPR-72 Amount of decommissioning funds estimated to be required pursuant to 10 CFR 50.75(b) and (c) and NUREG-1307, Rev. 9.
$297 million; at expiration of current license, December 3, 2016.
City of Leesburg share (0.8244%) = $2.452 million The fund balance for the amount accumulated as of December 31, 2001
$2,542,992 The amount prorated for radiological decommissioning of residual radioactivity per 10 CFR 50.75 is $1,502,145.
Annual amounts remaining to be collected The annual accrual rate for radiological decommissioning, non-radiological decommissioning and high-level waste management is $208,200 for 2002 and $171,000 for 2003 and beyond.
The annual accrual rate for radiological decommissioning is $122,984 for 2002 and $101,010 for 2003 and beyond.
Assumptions Assumed Cost Escalation Rate
=
5.3%
Assumed Earnings Rate
=
5.5 % (on non-Forward Purchase Agreement funds) 7.422% (on Forward Purchase Agreement funds)
"* Contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v)
None
"* Modifications occurring to a licensee's current method of providing financial assurance since the last submitted report None
"* Material changes to trust agreements None
United States Nuclear Regulatory Commission Attachment to PE&RAS-02-026 Page 7 City of New Smyrna Beach Status of Financial Assurance Mechanism Crystal River Nuclear Plant Docket No. 50-302 / License No. DPR-72
"* Amount of decommissioning funds estimated to be required pursuant to 10 CFR 50.75(b) and (c) and NUREG-1307, Rev. 9.
$297 million; at expiration of current license, December 3, 2016.
City of New Smyrna Beach share (0.5608%) = $1.668 million
"* The fund balance for the amount accumulated as of December 31, 2001
$2,260,683 The amount prorated for radiological decommissioning of residual radioactivity per 10 CFR 50.75 is $1,335,385.
"* Annual amounts remaining to be collected The annual accrual rate for radiological decommissioning, non-radiological decommissioning and high-level waste management is $115,493.
The annual accrual rate for radiological decommissioning is $68,222.
"* Assumptions Assumed Cost Escalation Rate
=
5.3%
Assumed Earnings Rate
=
4.5%
"* Contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v)
None
"* Modifications occurring to a licensee's current method of providing financial assurance since the last submitted report None Material changes to trust agreements None
United States Nuclear Regulatory Commission Attachment to PE&RAS-02-026 Page 8 City of Ocala Status of Financial Assurance Mechanism Crystal River Nuclear Plant Docket No. 50-302 / License No. DPR-72 Amount of decommissioning funds estimated to be required pursuant to 10 CFR 50.75(b) and (c) and NUREG-1307, Rev. 9.
$297 million; at expiration of current license, December 3, 2016.
City of Ocala share (1.3333%) = $3.966 million The fund balance for the amount accumulated as of December 31, 2001
$3,985,675 The amount prorated for radiological decommissioning of residual radioactivity per 10 CFR 50.75 is $2,354,338.
Annual amounts remaining to be collected The annual accrual rate for radiological decommissioning, non-radiological decommissioning and high-level waste management is $346,900 for 2002 and $287,000 for 2003 and beyond.
The annual accrual rate for radiological decommissioning is $204,914 for 2002 and $169,531 for 2003 and beyond.
Assumptions Assumed Cost Escalation Rate
=
5.3%
Assumed Earnings Rate
=
5.5 % (on non-Forward Purchase Agreement funds) 7.422% (on Forward Purchase Agreement funds)
"* Contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v)
None
"* Modifications occurring to a licensee's current method of providing financial assurance since the last submitted report None
"* Material changes to trust agreements None
United States Nuclear Regulatory Commission Attachment to PE&RAS-02-026 Page 9 Orlando Utilities Commission Status of Financial Assurance Mechanism Crystal River Nuclear Plant Docket No. 50-302 / License No. DPR-72
"* Amount of decommissioning funds estimated to be required pursuant to 10 CFR 50.75(b) and (c) and NUREG-1307, Rev. 9.
$297 million; at expiration of current license, December 3, 2016.
Orlando Utilities Commission share (1.6015%) = $4.764 million
"* The fund balance for the amount accumulated as of December 31, 2001
$5,734,845 The amount prorated for radiological decommissioning of residual radioactivity per 10 CFR 50.75 is $3,387,573.
"* Annual amounts remaining to be collected The annual accrual rate for radiological decommissioning, non-radiological decommissioning and high-level waste management is $347,000.
The annual accrual rate for radiological decommissioning is $204,973.
"* Assumptions Assumed Cost Escalation Rate
=
5.3%
Assumed Earnings Rate
=
5.75%
"* Contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v)
None
"* Modifications occurring to a licensee's current method of providing financial assurance since the last submitted report None
"* Material changes to trust agreements None
United States Nuclear Regulatory Commission Attachment to PE&RAS-02-026 Page 10 Seminole Electric Cooperative, Inc.
Status of Financial Assurance Mechanism Crystal River Nuclear Plant Docket No. 50-302 / License No. DPR-72
"* Amount of decommissioning funds estimated to be required pursuant to 10 CFR 50.75(b) and (c) and NUREG-1307, Rev. 9.
$297 million; at expiration of current license, December 3, 2016.
Seminole Electric Cooperative, Inc. share (1.6994%) = $5.055 million
"* The fund balance for the amount accumulated as of December 31, 2001
$4,708,383 The amount prorated for radiological decommissioning of residual radioactivity per 10 CFR 50.75 is $2,781,242.
"* Annual amounts remaining to be collected The annual accrual rate for radiological decommissioning, non-radiological decommissioning and high-level waste management is $116,825.
The annual accrual rate for radiological decommissioning is $69,009.
"* Assumptions Assumed Cost Escalation Rate
=
5.27%
Assumed Earnings Rate
=
8.0%
"* Contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v)
None. Revenue is generated from wholesale power agreements with its 10 members.
"* Modifications occurring to a licensee's current method of providing financial assurance since the last submitted report None
"* Material changes to trust agreements None