Text

Resubmittal of Decommissioning Funding Status
	ML022210050
Person / Time
Site:	Palo Verde
Issue date:	08/01/2002
From:	Overbeck G; Arizona Public Service Co
To:	; Document Control Desk, Office of Nuclear Reactor Regulation
References
	102-04823-GRO/TNW/DWG
	Download: ML022210050 (175)
	v • d • e

10 CFR 50.75(f)(1)

Gregg R. Overbeck Mail Station 7602 Palo Verde Nuclear Senior Vice President TEL (623) 393-5148 P.O. Box 52034 Generating Station Nuclear FAX (623) 393-6077 Phoenix, AZ 85072-2034 102-04823 - GRO/TNW/DWG August 1, 2002 U. S. Nuclear Regulatory Commission ATTN: Document Control Desk Mail Station P1-37 Washington, DC 20555

Dear Sirs:

Reference:

1. APS Letter No. 102-04266-JML/SAB/RKB, dated March 30, 1999, from J. M. Levine, APS, to NRC, "Status of Decommissioning Funding"

2. APS Letter No. 102-04550-GRO/SAB/RKB, dated March 29, 2001, from G. R. Overbeck, APS, to NRC, "Status of Decommissioning Funding"

Subject:

Palo Verde Nuclear Generating Station (PVNGS)

Units 1, 2, and 3 Docket Nos. STN 50-528/529/530 Re-Submittal of Decommissioning Funding Status In accordance with the requirements of 10 CFR 50.75(f)(1), Arizona Public Service Company (APS) is required to submit the status of the decommissioning funding for PVNGS Units 1, 2, and 3 once every two years.

As discussed in a telephone conversation with members of the NRC staff on July 25, 2002, APS is re-submitting the March 1999 and March 2001 reports on the status of decommissioning funding for PVNGS Units 1, 2, and 3 to clarify the confidentiality status of these reports. In attachments A and B you will find an update to the original submittals with the confidentiality request deleted. There are no other changes to these submittals.

This letter does not make any commitments to the NRC. If you have any questions, please contact Thomas N. Weber at (623) 393-5764.

Sincerely,

U. S. Nuclear Regulatory Commission ATTN: Document Control Desk Decommissioning Funding Status Submittal Update for PVNGS Units 1, 2, and 3 Page 2 GRO/TNW/DWG/kg Attachments:

A. Updated APS Letter No. 102-04266-JML/SAB/RKB, dated March 30, 1999, from J. M. Levine, APS, to NRC, "Status of Decommissioning Funding" B. Updated APS Letter No. 102-04550-GRO/SAB/RKB, dated March 29, 2001, from G. R. Overbeck, APS, to NRC, "Status of Decommissioning Funding" cc:

E. W. Merschoff J. N. Donohew D. G. Naujock N. L. Salgado

[Region IV]

[NRR Project Manager] + (send electronic and paper)

[NRR Project Manager]

[PVNGS]

Attachment A Updated APS Letter No. 102-04266-JMLISAB/RKB, dated March 30, 1999, from J. M. Levine, APS, to NRC, "Status of Decommissioning Funding"

Palo Verde Nuclear Generating Station James M. Levine Senior Vice President Nuclear TEL (602)393-5300 Mail Station 7602 FAX (602)393-6077 P.O. Box 52034 Phoenix, AZ 85072-2034 102-04266-JML/SAB/RKB March 30, 1999 10 CFR 50.75(f)(1)

U. S. Nuclear Regulatory Commission ATTN: Document Control Desk Mail Station P1-37 Washington, DC 20555

Dear Sirs:

Subject:

Palo Verde Nuclear Generating Station (PVNGS)

Units 1, 2, and 3 Docket Nos. STN 50-5281529/530 Status of Decommissioning Funding In accordance with the requirements of 10 CFR 50.75(f)(1), Arizona Public Service Company (APS) is submitting the status of the decommissioning funding for PVNGS Units 1, 2, and 3 in Enclosure 1. This report and its appendices contain the status of decommissioning funding for each unit and for each of the owners of the Palo Verde Units. APS is relying upon the 1998 Annual Funding Status Report from each Participant in providing the information in this report with respect to each Participant's current funds, as well as future funding plans and assumptions.

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U. S. Nuclear Regulatory Commission ATTN: Document Control Desk Status of Decommissioning Funding for PVNGS Units 1, 2, and 3 Page 2 If you have any questions, please contact Scott A. Bauer at (602) 393-5978.

This letter does not make any commitments to the NRC.

Sincerely, I.

JMLISAB/RKB/rlh : 1998 Decommissioning Funding Status Report for Palo Verde Nuclear Generating Station Units 1, 2 & 3 "2. Affidavit of JImo. M. I= 1yI II Rel e*tilllni*eh l Deleted per APS Letter 102-04823, dated August 1, 2002 cc:

E. W. Merschoff M. B. Fields J. H. Moorman A. V. Godwin [ARRA]

R. S. Wood w/attachments w/o attachments w/attachments w/o attachments w/attachments IiR I

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I 1998 Decommissioning Funding Status Report for Palo Verde Nuclear Generating Station Units 1, 2 & 3

1998 DECOMMISSIONING FUNDING STATUS REPORT 10 CFR 50.75(0(1)

(For The Year Ending December 31, 1998)

PALO VERDE NUCLEAR GENERATING STATION, UNITS 1, 2 & 3 Submitted on Behalf of Arizona Public Service Company Salt River Project Agricultural Improvement and Power District El Paso Electric Company Southern California Edison Company Public Service Company of New Mexico Southern California Public Power Authority Los Angeles Department of Water and Power Dated: March 24, 1999 50-75_1999.doc 03124/99

OVERVIEW This Decommissioning Funding Status Report is being submitted pursuant to 10 CFR 50.75(f)(1) by Arizona Public Service Company (APS) as the operator of Palo Verde Nuclear Generating Station (PVNGS), Units 1, 2 & 3. APS is submitting this report on behalf of the seven Participants in PVNGS:

Participant

% Share of Each Unit

1.

Arizona Public Service Company (APS) 29.10

2.

Salt River Project Agricultural Improvement and Power District (SRP) 17.49

3.

El Paso Electric Company (EPE) 15.80

4.

Southern California Edison Company (SCE) 15.80

5.

Public Service Company of New Mexico (PNM) 10.20

6.

Southern California Public Power Authority (SCPPA) 5.91

7.

Los Angeles Department of Water and Power 5.70 (LADWP)

I Pursuant to Sections 8A.4 and 8A.7.2.4 of the PVNGS Participation Agreement, as amended through Amendment 13 and reformed as of June 29, 1992, each Participant provides an annual decommissioning funding status report for review by the Termination Funding Committee established pursuant to the PVNGS Participation Agreement. APS is relying upon the 1998 Annual Funding Status Report from each Participant in providing the information in this report with respect to each Participant's current funds, as well as future funding plans and assumptions.

DECOMMISSIONING FUNDS ESTIMATED TO BE REQUIRED In a report dated December 1998 TLG Services, Inc. (TLG) prepared a site-specific Decommissioning Cost Study for PVNGS. This study includes cost estimates for basic NRC radiological decommissioning within the meaning of 10 CFR 50.75(b) & (c)

(hereafter, Basic Radiological Decommissioning), as well as for spent fuel management and for non-radiological decommissioning activities. On a per unit basis, the 1998 Total Decommissioning Costs for each unit and the Basic Radiological Decommissioning costs can be broken down as follows (in millions of dollars):

PVNGS Unit Total Decommissioning Basic Radiological Cost Estimate Decommissioning Unit 1

$557.6

$424.5 Unit 2

$586.9

$454.7 Unit 3

$631.1

$485.7 Each Participant is entitled to exercise its own judgment regarding additional contingency factors and scope of work beyond the scope of work assumed in TLG's site specific study. In addition, assumptions regarding decommissioning cost escalation and trust 50-75_1999.doc 03124/99 2

fund earnings will affect funding levels. Therefore, Participants may accumulate funds based upon a Basic Radiological Decommissioning cost estimate and Total Decommissioning Cost Estimate that exceed the amounts noted above. Regardless of such independent judgments, each Participant meets NRC requirements for purposes of estimating the decommissioning funds to be required, because the site specific estimates of costs noted above for the Basic Radiological Decommissioning of each PVNGS unit exceed the NRC minimum formula amount calculated in accordance with 10 CFR 50.75(c), NUREG-1307, Rev. 8, and Regulatory Guide 1.159.

AMOUNT OF FUNDS ACCUMULATED AS OF DECEMBER 31,1998 The total amounts of funds accumulated by each Participant in their respective Nuclear Decommissioning Trusts for each unit as of December 31, 1998 are provided in Appendix A, Tabs 1 (Unit 1), 2 (Unit 2) & 3 (Unit 3). These values reflect the fair market value as reported by the respective Trustees at the end of calendar year 1998. In addition, in order to put the current levels of funding in perspective, the charts for each unit provided in Appendix A include: (1) a breakdown for each unit of each Participant's percentage share of the 1998 Total Decommissioning Cost Estimate and the Basic Radiological Decommissioning amount; (2) the 1998 annual contribution made by each Participant; and (3) the years remaining on the unit's operating license. Please note that the cost estimates are in 1998 dollars and do not take into account the individual assumptions made by each Participant, which may result in the accumulation of funds based upon higher cost estimates.

SCHEDULE OF ANNUAL AMOUNTS REMAINING TO BE COLLECTED AND ASSUMPTIONS Pursuant to the Participation Agreement, as amended and reformed, the Participants agreed that each Participant would commit to minimum levels of accumulation of funds, regardless of fund investment performance, pursuant to a pre-established percentage funded commitment or "Funding Curve" for each year through the end of plant life. Each Participant's percentage funding commitment was based upon an analysis which incorporated the Participant's individual business judgments (subject to regulatory approvals, as applicable) with respect to expected rates of fund investment earnings and escalation in total decommissioning costs. Every three years a site-specific decommissioning cost estimate is performed, and each participant applies the new cost estimate to their pre-established Funding Curve. However, each Participant is committed to minimum levels of accumulations, which cannot drop below a Funding Floor (which is never less than eighty percent of the Participant's Funding Curve and was established to take into account market fluctuations in the early years of fund accumulation). These minimum commitment levels are based upon the liquidated, after-tax value of the funds.

As such, the unliquidated values relied upon for purposes of NRC's decommissioning financial assurance requirements currently exceed these values with respect to funds held by the investor-owned utility Participants in PVNGS. For the non-investor-owned Participants, the liquidated and unliquidated values are the same.

50-75_1999.doc 03/24/99 3

The current accumulation and funding schedules submitted in the 1998 Annual Funding Status Reports are based upon a 1995 site specific decommissioning cost estimate, that is escalated by each Participant. The tables and charts submitted by each Participant in the 1998 Annual Funding Status Reports are provided in Appendix B, Tabs 1, 2, 3, 4, 5, 6 &

7. (These Tabs correlate with the numbers assigned to Participants in the "Overview" above, which were assigned in descending order based upon the percentage share size of each Participant.)

The assumptions underlying each Participant's analysis are provided in Section 2.1.7 of the 1998 Annual Funding Status Reports. These assumptions reported by each Participant are restated, respectively, in Appendix B, Tabs 1, 2, 3, 4, 5, 6 & 7.

Actual annual contributions of each Participant may vary from the annual contributions reflected in the tables provided in Appendix B, based upon actual fund performance and other factors. Each Participant is committed to maintaining the accumulation of funds established by the funding percentage curves, rather than any pre-established annual contribution.

SOURCE OF REVENUES FOR EXTERNAL SINKING FUND Within the meaning of 10 CFR 50.75(e)(1)(i)(A) & (B), each participant either:

(A) recovers, directly or indirectly, the estimated total cost of decommissioning through rates established by "cost of service" or similar ratemaking regulation, including entities that establish their own rates and are able to recover their cost of service allocable to decommissioning; or (B) has as its source of revenues for its external sinking fund a "non-bypassable charge," the total amount of which, with earnings, will provide the funds estimated to be needed for decommissioning. However, in Section 1.6 of its 1998 Annual Funding Status Report, PNM notes as follows:

As reflected in this Report, PNM continues to rely exclusively on the external sinking fund mechanism for financial assurance for its decommissioning obligations with respect to its interest in PVNGS Unit 3. PNM's interest in PVNGS Unit 3 has never been in its rate base and was permanently excluded from New Mexico retail rates by a New Mexico Public Utility Commission order issued in 1989. Nevertheless, PNM is, in a general sense, "indirectly" collecting Unit 3 decommissioning through cost of service based revenues within the meaning of 10 CFR 50.75(e)(1)(ii)(A).

In 1998, PNM collected more than 80% of its gas and electric utility revenues from cost of service based rates, and PNM's electric revenues from its interest in Unit 3 represented less than 20% of PNM's electric revenues. Even though Unit 3 decommissioning costs are not included in rates, the total revenues recovered by PNM through traditional cost of service rates dwarf the ongoing decommissioning funding requirements for Unit 3. For 1998, PNM had retail cost of service electric revenues of more than $500 million, as contrasted with the approximate $1.6 million annual required contribution to PNM's Unit 3 50-75_1999.doc 03/24/99 4

decommissioning trust fund. Notably, PNM currently has $11.7 million (market value) in its Unit 3 decommissioning trust fund.

It also should be noted that EPE's share of Unit 3 relating to its New Mexico service territory has similarly been excluded from retail rates. However, this share is de minimis (less than 20% of EPE's Unit 3 share), and this should not affect EPE's qualification to use an external sinking fund for its share of Unit 3 pursuant to 10 CFR 50.75(e)(1)(ii)(A).

LONG TERM CONTRACTS RELIED UPON No PVNGS Participant is relying upon a long-term contract for purposes of providing decommissioning funding within the meaning of 10 CFR 50.75(e)(1)(v).

MODIFICATIONS TO METHOD OF DECOMMISSIONING FUNDING ASSURANCE OR MATERIAL CHANGES TO TRUST AGREEMENT The Participants continue to use the external sinking fund method of providing decommissioning funding assurance.

Amendments to the Trust Agreements of the various Participants, since the 1990 submission of the Trust Agreements to NRC, if any, are provided in Appendix C. The APS Decommissioning Trust Agreements (Unit 1; Unit 2; and Unit 3) amended and restated as of December 16, 1996 are provided at Appendix C, Tabl. The EPE Decommissioning Trust Agreements (Unit 1; Unit 2; and Unit 3) amended and restated as of February 12, 1996 are provided at Appendix C, Tab 2. The SCE Master Trust Agreement amended and restated as of December 27, 1997 is provided at Appendix C, Tab 3. The PNM Master Decommissioning Trust Agreement amended and restated as of March 15, 1996 is provided at Appendix C, Tab 4. The SCPPA Decommissioning Trust Fund Agreement I and Agreement II amended and restated as of October 27, 1992 are provided at Appendix C, Tab 5. The LADWP Decommissioning Trust Fund Agreement I and Agreement II amended and restated as of February 20, 1991 are provided at Appendix C, Tab 6.

In addition, the following Table provides the names of the current Trustees and Investment Managers as reported by each Participant in Section 1.1 of their 1998 Annual Funding Status Reports to the Termination Funding Committee:

50-75_1999.doc 03124/99 5

Participant Trustee(s)

Investment Manager(s)

APS Mellon Bank, N.A.

RCM Capital Mellon Capital Delaware Investment Advisers SRP Marshall & Illsley Vanguard Group Trust Company of Pacific Investment Arizona Management EPE NationsBank, N.A.

Phoenix Duff & Phelps Investment Advisors Delaware Investment Advisers SCE The Northern Trust STW Fixed Income Company Management Bankers Trust Company PanAgora Asset Management BlackRock Financial Management, Inc.

Stanford C. Bernstein & Co.,

Inc.

PNM Mellon Bank, N.A.

T. Rowe Price and Associates, Inc.

Strong Capital Management Inc.

SCPPA US Bank Trust, N.A.

None.

LADWP US Bank Trust, N.A.

None.

50-75_1999.doc 03/24/99 6

Deieted permAPS Letter 102-04823, datedfAugust 1, 2002 CONFI*IE;T;.L ;;IF,;,1AT;.. -0, CR -".79W Appendix A, Tab I Palo Verde Nuclear Generating Station Unit I

($M)

Particiants Total (1)

Site Specific EsUmate Arizona Public Service Company Salt River Project Agricultural Improvement and Power District El Paso Electric Company Southern California Edison Company Public Service Company of New Mexico Southern California Public Power Authority Los Angeles Department of Water and Power 29.10 %

17.49 %

15.80 %

10.20 %

5.91 %

5.70 %

TOTAL 100.00 %

NRC (1)

Basic Radiological Estimate 162.26 97.52 123.53 74.25 88.10 67.07 88.10 67.07 56.87 43.30 32.95 25.09 31.78 24.20 557.58 Total Nuclear Decommissioning TI=t (As of 12/31/98) 55.75 (3) 34.35 (4) 16.58 (5) 132.73 (6) 14.09 (7) 19.63 (8) 21.85 (9) 424.50 294.99 Fiscal (2)

Year 1998 Contributions 3.80 1.45 1.56 9.20 1.50 2.07 3.19 22.76 (1) - Decommissioning Cost Study for PVNGS, prepared by TLG Services, Inc. (December, 1998)

(2) - Section 2.4 of 1998 Annual Funding Status Reports (3) - Exhibit B of APS 1998 Annual Funding Status Report (4) - Section 2.2.2 of SRP 1998 Annual Funding Status Reports (5) - Section 2.2 of EPE 1998 Annual Funding Status Reports (6) - Section 2.2.2 of SCE 1998 Annual Funding Status Reports - Note: SCE accumulates funds based upon cost estimates that exceed the amounts noted above due to SCE judgments with respect to contingency factors and a scope of work beyond the scope of work assumed in the 1998 TLG study. In addition, its funding levels are also affected by assumptions regarding decommissioning cost escalation and trust fund earnings.

(7) - Section 2.2.1 of PNM 1998 Annual Funding Status Reports (8) - Section 2.2.1 of SCPPA 1998 Annual Funding Status Reports (9) - Section 2.2.1 of LADWP 1998 Annual Funding Status Reports PJW 3a24/M9 Years To End Of Operating ULcnse (12/31/2024) 26 26 26 26 26 26 26 W*/lkR*peql19jf

Defetedper APS Letter 102-04823, dated August 1, 20o2 Appendix A, Tab 2 Palo Verde Nuclear Generating Station Unit 2

($M)

Partciants Arizona Public Service Company Salt River Project Agricultural Improvement and Power District El Paso Electric Company Southern California Edison Company Public Service Company of New Mexico Southern California Public Power Authority Los Angeles Department of Water and Power

% Ownerhi 29.10 %

17.49 %

15.80 %

10.20 %

5.91 %

5.70 %

TOTAL 100.00 %

Total (1)

Site Specific Estimate NRC (1)

Basis Radiological Estmate 170.80 102.66 132.31 79.53 92.74 71.84 92.74 71.84 59.87 46.38 34.69 26.87 33.46 25.92 586.95 Total Nuclear Decommissioning iTt (As of 12/31/98) 53.73 (3) 32.40 (4) 17.05 (5) 131.41 (6) 14.53 (7) 20.02 (8) 21.72 (9) 454.69 290.85 Fiscal (2)

Year 1998 Contdbutions 4.07 1.55 1.40 9.13 1.52 2.13 3.51 23.30 (1) - Decommissioning Cost Study for PVNGS, prepared by TLG Services, Inc. (December, 1998)

(2) - Section 2.4 of 1998 Annual Funding Status Reports (3) - Exhibit B of APS 1998 Annual Funding Status Report (4) - Section 2.2.2 of SRP 1998 Annual Funding Status Reports (5) - Section 2.2 of EPE 1998 Annual Funding Status Reports (6) - Section 2.2.2 of SCE 1998 Annual Funding Status Reports - Note: SCE accumulates funds based upon cost estimates that exceed the amounts noted above due to SCE judgments with respect to contingency factors and a scope of work beyond the scope of work assumed in the 1998 TLG study. In addition, its funding levels are also affected by assumptions regarding decommissioning cost escalation and trust fund earnings.

(7) - Section 2.2.1 of PNM 1998 Annual Funding Status Reports (8) - Section 2.2.1 of SCPPA 1998 Annual Funding Status Reports (9). Section 2.2.1 of LADWP 1998 Annual Funding Status Reports PitY2J..

t..lUm.

Years To End Of Operating (12/9/2025) 27 27 27 27 27 27 27 mvli w W gg VW PJH :3M24=

Deetedper ApS Letter 102-04823, datedAugust 1, 2002 CONFIDENTIAL INFOiGRMATION i

10 IFR 2.790 Palo Verde Nuclear Generating Stati6n Unit 3

($M)

Padrciants Arizona Public Service Company Salt River Project Agricultural Improvement and Power District El Paso Electric Company Southern California Edison Company Public Service Company of New Mexico Southern California Public Power Authority Los Angeles Department of Water and Power

% Ownership 29.10 %

17.49 %

15.80 %

10.20 %

5.91 %

5.70 %

Total (1)

Site Specific Estimate NRC (1)

Basic Radiological Estmate 183.65 110.38 141.35 84.95 99.71 76.75 99.71 76.75 64.37 49.54 37.30 28.71 35.97 27.69 Total Nuclear Decommissioning Ifst (As of 12131/98) 49.09 (3) 34.38 (4) 13.41 (5) 143.33 (6) 11.69 (7) 21.40 (8) 21.83 (9)

Fiscal (2)

Year 1998 Contributions 3.57 1.70 1.57 9.82 0 (10) 2.47 3.93 TOTAL 100.00 %

631.10 485.73 295.14 23.06 (1) - Decommissioning Cost Study for PVNGS, prepared by TLG Services, Inc. (December, 1998)

(2) - Section 2.4 of 1998 Annual Funding Status Reports (3) - Exhibit B of APS 1998 Annual Funding Status Report (4) - Section 2.2.2 of SRP 1998 Annual Funding Status Reports (5) - Section 2.2 of EPE 1998 Annual Funding Status Reports (6) - Section 2.2.2 of SCE 1998 Annual Funding Status Reports - Note: SCE accumulates funds based upon cost estimates that exceed the amounts noted above due to SCE judgments with respect to contingency factors and a scope of work beyond the scope of work assumed in the 1998 TLG study. In addition, its funding levels are also affected by assumptions regarding decommissioning cost escalation and trust fund earnings.

(7) - Section 2.2.1 of PNM 1998 Annual Funding Status Reports (8) - Secti PNM's funding requirements under the Participation Agreement.

(9) - Section 2.2.1 of LADWP 1998 Annual Funding Status Reports (10) - Note: Prepaid contributions and growth in the fund from earnings were sufficient such that the liquidated value of the fund met PNM's funding requirements under the Participation Agreement.

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Appendix A, Tab 3 Years To End Of Operating (3/25/2027) 29 29 29 29 29 29 29 PJH &'24M9

Appendix B, Tab I Palo Verde Nuclear Generating Station Units 1, 2, & 3 APS 1998 Annual Funding Status Report Section 2.1.7 [Restated)

Assumptions used in developing committed Accumulations: (See Exhibit E - Funding Tables and Curves, attached)

P41o31.RApcs.1W.x PJH 3C24M

ARIZONA PUBLIC SERVICE COMPANY ANNUAL FUNDING STATUS REPORT FOR THE YEAR ENDING DECEMBER 31, 1998 EXHIBIT E Assumptions used by APS in Decommissioning Funding Tables and Curves:

Decommissioning Costs:

Funding Curve is based on Official 1995 TLG Study Costs Escalation Factor and Future Value of Decommissioning Costs:

Escalation factor of 5.00% Annually After Tax Rate of Return For Assets in Trust:

Annual Rate of Return is 6.75%

Contribution Assumptions:

All contributions made quarterly W. EXCELOECOMFSRU 20m0

Arizona Public Service Decommissioning Funding Plan PV Unit #1 120%

100%

80%

(1)

"" 60%

U 40%

20%

0%

1 1

1 2

2 2

9 9

9 0

0 0

9 9

9 0

0 0

1 1

1 2

2 2

3 3

1 3

5 7

9 1

3 5

7 9

1 3

5 7

9 1

3 5

7 9

1 3

5 7

Year I-+-Funded Curve -x-Funded Floor

Actual]

FILENAME:

W:EXCELJOECOMAFSROIVEaIBITE 2MMAO

ARIZONA PUBLIC SERVICE COMPANY NUCLEAR DECOMMISSIONING FUNDING REQUIREMENT UNIT ONE I Based on 1995 Cost Study Rate of Return 6.7500%

Escalation Factor 5.0000%

Funding Plan Funding Floor Actual Funding Data Year Fund $

Est. Cost

% Funded

% Band

% Floor

$ Floor

$ In Fund Est. Cost

% Funded 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 8.358,799 11,132.220 16,329,125 21,885,801 27.827,153 30,081,526 36.066.854 42.454.085 49.294.247 56,611,884 64,415,053 72,783,212 81,710,917 91.288.072 101.469,878 112,396.417 124,067,749 136,575,775 149,920.593 164,203.937 179,454,950 195,760,450 213.216,308 231.895,218 251.839,399 273,161,732 295,948,345 320,370.987 346,411.450 374,299,432 404,110,184 435.966,262 470.049.073 506.396,279 540,307,385 540,865,435 504.008,813 426,821,193 345,911.258 256,996.563 157.138,814 107,818,151 91,957.867 70.605.386 37,556.837 13.067,526 10.526,082 8.531.336 11,159,326 14,474,516 17.781,769 24,469.181 30,491,630 39,491,919 49,972,041 122,538,465 128,655,388 135,098,658 141,853,590 148.946,270 137,672,886 144,556,530 151,784.356 6.96%

8.67%

10.71%

12.54%

16.43%

22.15%

27.32%

32.92%

122,538,465 6.82%

128,655.388 8.65%

135.098,658 12.09%

141,653,590 15.43%

148,946,270 18.68%

137,672.888 21.85%

144,556,530 24.95%

151.784.356 27.97%

159,373,574 30.93%

167,342,253 33.83%

175,709,366 38.66%

184,494,834 39.45%

193,719,576 42.18%

203,405,554 44.87%

213,575,832 47.51%

224,254,624 50.12%

235,467,355 52.69%

247,240,723 55.24%

259,602,759 57.75%

272,582,897 60.24%

286,212,042 62.70%

300,522,644 65.14%

315,548,776 67.57%

331,326,215 69.99%

347,892,525 72.39%

365,287,152 74.78%

383,551,509 77.16%

402,729,085 79.55%

422,865,539 81.92%

444,008,816 84.30%

466,209,257 86.68%

489,519,720 89.06%

513.995,706 91.45%

539,695,491 93.83%

566,597,510 95.36%

559,612,452 96.65%

517,409,725 97.41%

434,777,624 98.17%

349.793,971 98.89%

258,469,841 99.43%

157,138,814 100.00%

107,818,151 100.00%

91,957,867 100.00%

70,605,386 100.00%

37,556.837 100.00%

13,067,526 100.00%

10,526.082 10000%

80%

5.46%

80%

6.92%

80%

9.67%

80%

12.34%

80%

14.95%

80%

17.48%

80%

19.96%

80%

22.38%

80%

24.75%

80%

27.06%

80%

29.33%

80%

31.56%

80%

33.74%

80%

35.89%

81%

38.49%

82%

41.10%

83%

43.74%

84%

46.40%

85%

49.09%

86%

51.80%

87%

54.55%

88%

57.33%

89%

60.14%

90%

62.99%

91%

65.87%

92%

68.80%

93%

71.76%

94%

74.77%

95%

77.83%

96%

80.93%

97%

84.08%

98%

87.28%

99%

90.54%

100%

93.83%

100%

95.36%

100%

96.65%

100%

97.41%

100%

98.17%

100%

98.89%

100%

99.43%

100%

100.00%

100%

100.00%

100%

100.00%

100%

100.00%

100%

100.00%

100%

100.00%

100%

100.00%

6.687,023 8,905.776 13.063,300 17,508.641 22.261,723 24,065,220 28,853,483 33,963,268 39,444,960 45,289,507 51,532,043 58,226,570 65,368,734 73,002,253 82,205,338 92,165.062 102,993,421 114,723,651 127,432,504 141,197,941 156,125,807 172,289,832 189,762,514 208.705,696 229,173,853 251,308,793 275.231,960 301.120,537 329,116,249 359,327,455 391,986,878 427,246,937 465,348,582 506,396,279 540,307,385 540,865,435 504,008,813 426,821,193 345,911,258 256,996,563 157.138,814 107.818,151 91,957,867 70,605,386 37,556,837 13,067,526 10,526,082 FILEN.AME: W EXCELiIACO.MMI:AROBIEXMIBITE

ARIZONA PUBLIC SERVICE COMPANY NUCLEAR DECOMMISSIONING FUNDING REQUIREMENT UNIT ONE Based on 1995 Cost Study Rate of Retur 6.7500% Annual Period Rate of Return 1.6875% Quarter Period Rate of Return 5.0000% Annual Estalaction First Quarter Second Quarter Third Quarter Fourth Quarter Contrib Contrib Contrib Contrib Quarter Earnings Quarter Earnings Quarter Earnings Quarter Earnings ANNUAL Year Contrib Earnings to Date Contrib Earnings to Date Contrib Earnings to Date Contrib Earnings to Date CONTRIBS 1995 25,200,879 3,801365 1996 949,238 425.265 26,575,381 949.238 448,460 27.973,079 949,238 472,046 29,394,362 949,238 496.030 30,839,629 3,796.950 1997 949,238 520,419 32,309.266 949,238 545.219 33,803.742 949,238 570,438 35.323,418 949.238 596.083 36,866,738 3,796,950 1998 949,238 622,160 38.440.136 949,238 646,677 40,038.051 949,238 675,642 41,662,930 949,238 703,062 43,315,230 3,796,950 1999 949,238 730,945 44,995.412 949,238 759.298 46,703.947 949,238 788,129 48,441,314 949,238 817,447 50,207,999 3,796.950 2000 949,238 647,260 52,004,496 949,238 877,576 53,831,310 949,238 908,403 55,688,951 949,238 939,751 57,577,939 3,796,950 2001 949.238 971,628 59,498.804 949,238 1,004.042 61.452,084 949,238 1.037,004 63,438,326 949,238 1,070,522 65,458,085 3,796,950 2002 949,238 1,104.605 67,511.928 949,238 1,139,264 69,600,429 949,238 1.174.507 71,724,174 949,238 1,210,345 73,883,757 3,796.950 2003 949,238 1,248,788 76,079,783 949,238 1,283,846 78,312,867 949,238 1,321,530 80.583.634 949,238 1,359,849 82,892,721 3,796.950 2004 949,238 1,398,815 85,240,773 949,238 1,438,438 87,628.448 949,238 1,478,730 90.056.416 949.238 1,519,702 92,525,358 3,796,950 2005 949,238 1,561,365 95,035.959 949,238 1.603,732 97,588.928 949,238 1,646,813 100,164,979 949,238 1,690.622 102,824,838 3,796,950 2006 949,238 1,735,169 105,509,245 949,238 1,780,469 108,238,951 949,238 1,826,532 111,014,721 949.238 1,873.373 113,837,332 3,796,950 2007 949.238 1,921,005 116.707,574 949,238 1,969.440 119,626,252 949,238 2.018,693 122,594,163 949,238 2,068.777 125,612,197 3,796,950 2008 949,238 2,119,706 128.681,140 949,238 2,171,494 131,801,872 949,238 2,224,157 134,975,266 949.238 2,277,708 138.202,211 3,796,950 2009 949,238 2,332,162 141,483,611 949.238 2.387.536 144,820.385 949.238 2,443,844 148,213,466 949,238 2,501,102 151,863,806 3,796,950 2010 949,238 2,559,327 155.172.371 949,238 2,618,534 158.740.142 949,238 2,678,740 162.368,119 949.238 2,739,962 168,057,319 3.796.950 2011 949,238 2,802.217 169,808,774 949,238 2,865,523 173,623.534 949.238 2.929,897 177,502,669 949,238 2.995,358 181.447,264 3,796,950 2012 949,238 3,061,923 185,458,424 949,238 3,129,611 189,537,273 949,238 3,198,441 193,684,952 949,238 3.268,434 197,902,623 3,796,950 2013 949,238 3,339.807 202,191,467 949,238 3,411,981 206,552,686 949,238 3,485,577 210,987,500 949.238 3,560,414 215,497,152 3,796,950 2014 949,238 3,636,514 220,082,904 949,238 3,713,899 224.746.040 949,238 3,792.589 229,487.887 949.238 3,872,608 234,309,713 3,796,950 2015 949,238 3,953,976 239,212,927 949,238 4,036,718 244,198.883 949,238 4,120,856 249,268,976 949.238 4.206,414 254,424,628 3,796.950 2016 949,238 4,293,416 259,667,281 949,238 4,381,885 264,998,404 949,238 4,471,848 270,419,490 949,238 4,563,329 275,932,056 3,796,950 2017 949,238 4,656,353 281.537.647 949.238 4,750,948 287,237,832 949.238 4,847,138 293,034,208 949,238 4,944,952 298,928,398 3,798.950 2018 949,238 5,044,417 304,922,053 949.238 5,145,560 311,016,850 949,238 5,248,409 317,214,497 949,238 5,352,995 323,516,729 3.796,950 2019 949,238 5,459.345 329,925,311 949,238 5,567.490 336.442,038 949,238 5.677.459 343,068,735 949,238 5,789,285 349,807,258 3,796,950 2020 949,238 5,902,997 356,659,493 949,238 6,018.629 363,627,359 949,238 6.136,212 370,712.809 949,238 6,255,779 377,917,825 3,796,950 2021 949,238 6,377.363 385,244,426 949.238 6,501.000 392,694,663 949.238 6.626,722 400,270,623 949,238 6,754.567 407,974,427 3,796,950 2022 949,238 6,884,568 415,808.233 949,238 7,016,764 423,774,235 949,238 7.151,190 431,874,663 949,238 7.287,885 440,111,785 3.796.950 2023 949,238 7,426,886 448,487.909 949,238 7,568,233 457,005,380 949,238 7,711,966 465,666.584 949,238 7,858,124 474,473,945 3,796,950 2024 949.238 8,006,748 483,429.930 949,238 8,157.880 492,537,048 949,238 8.311,563 501,797.848 870.423 8.467.839 511,136,109 3.796,950 2025 0

0 0

(33,633.270) 34,501.687 512,004,527 0

2026 0

0 0

(66.841.285) 34,560,306 479,723,547 0

2027 0

0 0

(103,335,798) 32,381.339 408,789,089 0

2028 0

0 0

(101,40,508) 27,591,914 334,720,494 0

2029 0

0 0

(103.632,218) 22.593,633 253,681,910 0

2030 0

0 0

(108.813,828) 17,123.529 161,991,611 0

2031 0

0 0

(54.454,860) 10,934,434 118,471,184 0

2032 0

0 0

(20,239.230) 0 98,231,954 0

2033 0

0 0

(24.714,642) 0 73,517,312 0

2034 0

0 0

(34,836.970) 0 38,680,343 0

2035 0

0 0

(25,111,574) 0 13,568,768 0

2036 0

0 0

(3,042,686) 0 10,526,082 2037 0

0 0

(10,526.082) 0 0

FIL.ENWME:

W:FXCELiA OWAFSRNOFXHI &E MAWg

ESTIMATED ANNUAL COSTS UNIT ONE 105 PV Dobra Year FV Dulm Sm PV Uab 3

6 10 II 12 13 14 10675 76,815 19.148 31.5W,576 7.781.96 58.655.538 14.729,111 64,946.824 21.66.68 78.269.993 20.315.147 74,757,004 19.720,190 73.532,090 19.726.800 34,471.602 9.402.038 12.812.055 3,328,0*1 15,645.129 3,970,446 22.052,873 5.195.63 15,596.3*9 3.566,.91 1.926.114 411.620 6,663.334 1.356.170 511.214,924 131.117.034 29.1%of 450.574,000 1965 0

1m I

1I07 2

190 3

190w 4

2000 5

2001 B

2002 7

2003 2004 9

2005 10 2m0611 2007 12 2008 13 2009 14 2010 15 2011 10 2012 17 2013 1I 2014 10 2015 20 2016 21 2017 22 2018 23 2019 24 2020 2*

2021 20 2022 27 2023 26 2024 29 78.915 2025 30 33.633.270 2026 31 N6.841.265 2027 32 103,335.798 202*

33 101.640.500 2029 34 103.632.218 2020 35 10,813.828 2031 38 64,454.&0 2032 37 20,239.230 2033 28 24,714.642 2034 39 34.&36.970 2035 40 25.111.574 2036 41 3,042.618 2037 42 10.526082 690,901,7"8 131.117,034 137,*2,110 144.5W6,530 151,764.396 159.373.574 167.342.253 175.709.366 1*4.414.834 193.719,576 203.405.554 213.575,932 224.254.624 235.467.355 247.240.723 259.602,759 272,582.,87 280,212,042 300.522.644 315.548,776 331.3n6.215 347,892.525 365.287.152 393.551.509 402,729.085 422.96.539 444.000.616 466.20,257 489.519.720 613.M05.706 539.695.491 56W.597,510 559.612.452 517,409.725 434.777.624 349,793.971 258.480.941 157,131,814 107,818,151 91,057.807 70.60.386 37.556.837 13,007,524 10.520.082 19.14*

20.105 21,110 22.186 23.274 24.438 25.960 26.943 26.290 29,705 31,190 32,749 34.387 36.10*

37.911 39.807 41,797 430,97 46.001 48.286 50.805 53.34S 56,012 58.913 61.754 64.841 "8.083 71.487 75.062 78.815 7.781.m80 8.171.079

.579,633 9.006.615 9.450.048 9.931.998 10.428.591 I0.290.028 11.497,529 12,072.405 12.676.026 13,309.827 13.075,316 14.074.014 15.407.789 16.176.178 16,967.087 17.836,441 16,725.263 19,464.676 20.647,910 21.680.306 22.764.321 23.902.537 25.007.004 29.352.547 27,970,174 29,053,583 30.5W.367 32.031,686 33.033.270 14.729.111 15,4481.56 15.238.844 17.050,7*7 17.903.326 11,714.492 10.738.417 20.725.338 21.761,604 22.649.685 23,992.160 25.191.777 26.451.366 27,773.935 29.162.631 30.62.763 32.151,601 33.759.391 35.447.361 37.319.729 39,080,715 41.034,751 43.086.4"8 45.240,813 47.502,853 49*77,996 52.371.895 54,990,491 57.740.015 60,627.016 63,658.367 66.841.285 22.771.022 23.09.573 25,105.052 20,360,304 27.678,320 20.02.23*

30.515.347 32.041,115 33.643.171 35.325.329 37.091.598 38.648.175 40.863.484 42.938.158 45.005,090 47,339.319 49.700.2*5 52.101,600 54.601.130 57.541.239 60.418,301 63.439,218 06,611.176 M9.941.735 73.438.822 77,110.763 90.806.301 85,014.616 89.295.347 93.728.615 "6,415,045 103.335.798 20.315.147 10.729.890 21.330.904 20.713.235 22,397.449 21,748,96 23.517.321 22,836.341 24.,93.1 "

23.978,158 25.927.847 25,177,066 27.224.239 29.435.919 29.55.451 27.757.715 30,014.724 29,145.601 31.515.460 30.4102.81 33.001,233 32.133,025 34,745,795 33.739.076 30.483.0*4 35,426.680 38,207.239 37.197.93 40.222*601 39,057.893 42.233.731 41.010,758 44,3k5.417 43,081.327 45.562.888 45,214,363 48.90.8122 47.475.113 51.335.363 49,948.86 53...132 52.341.312

,5697.238 54,958.378 59,427,100 57.708.2*0 62.3U,45 60,91.611 5.5519.379 63.621.192 68,794,297 6.602.251 72.234,012 70.142364 75,845.712 73.649.482 79,637.998 77.331.956 83,19.896 81,198,.54 87.600.803 15.251.482 92.190.937 89,521.400 96.800.484 93.997.476 101.640.508 96,967,.35 103.832,218 19,726.890 20,713,236 21,748,896 22.836.341 23.978.154 25.177.066 28,435.919 27.757,715 29143,01 30.602,681 32.133.025 33.7399679 35.420.640 37, 197.193 39.057.893 41,010.78 43.001.327 45.214.393 47.475.113 49.641.161 52,341.312 54,958,378 57.706,296 60,591,611

3,21.192

".802.251 70.142.364 73.649.492 77,331.956 81.16.554

5.258.4832 89.521.408 93.997,476 "96.667,350 103632,219 100,813.820 9.402.035 9.872.137 10,365,744 10.84,031 11.428,233 11.90.644 12.59.627 13.2209.80 13.891.08 14.585"043 15.314.025 16,060.671 16."84,705 17,728.940 18.15.387 19.540,150 20.523.4.4 21.549.637 22.627.119 23,756.475 24,946.399 26.193.719 27,503.405 28.678.575 30.322,504 31,83,6,29 33.4305.6 35.102,09 3.857193 38700.063 40.635.055 42.868,60 44,000,148 47.040,156 49.392.164 51,61.772 54.4S4.160 3.328,05 1 3.870,445 3,464,453 4.0*3,96 3.9".176 4.287,196 3.852.835 4,460.624 4.045.26 4.,0451 4,247.530 4,.99.779 4.459,4 0 5.166.767 4.682,901 5.446.105 4.817.046 5,718.411 5.162.899 6.004.331 5.421,044 8,304.548 5,692,096 6.61i.775 5.976,701 9.950.764 6.275,536 7.298,302 6.589.313 7,863,217 0.918.778 6.046.378 7,24.717 6.448.697 7.627.953 8.871.132 8,009,351 9.314.696 8.409.818 9,780.423 8.830,309 10.261.444 9,271,924 10,782,916 0.735.416 11.322,062 10.222.186 11.118.185 10.733.296 12,482,574 11.209.981 13.100.702 11,8.33,45 13,702.037 12.425,132 14.450.139 13.048.3" 15,172.646 13,698.708 15,931,278 14.383.643 16,72,642 15,102.825 17,54.235 15.857.966 18.442,446 16.6500.85 19.364,511 17.483,408 20.332.707 11,357,578 21,349.437 19.275.457 22.416.900 20.230.230 23.137.754 24.714.642 FILENAME W.EXCELIOECOMW8AFOaS*.E24INTE 2rAN 2024 ToW S's 5.195.,03 5,45,.$N 5,72n,439 6.014.661 6.315.804 0.631.384 6,942.954 7.311.101 7.07e6,e 1.060,44) 8.463.514 8.8.6,699 9.331.024 9.797.575 10,287,454 10,,01.828 11,341.91*

11,909,014 12.504,464 13.129.88 13.786.172 14.475.481 IS.1J9.255 15.950.217 16.757,17*

17,511,037 11.474,711 19.396.5a 20.3U8.455 21.38.1177 32,456.221 23.579,032 24,757.,94 25.11415.1113 27.295.677 2.600.461 30,003.484 31.5".150 33.176.06 34,36,970 3.66.991 3,7456340 3.932.007 4.129.238 4,.335.0 4,552.4*4 4,760.109 5.019,114 6.270.070 8.633.573 5.410.262 6.100.796 4.406,80 0.729.093 7.002.36 7.415,517 7.7,2 6.184,388 9.013.41W 1.464.214 0,037.503 10,434.376 10,986,0*7 11.,803.1102 12.079,097 12.4143,051 13,317,204 13.143.064 14.6.11217 16,416,329 16,187.145 le.m=

17.46*7 18,6,67M43 19,67,.579 20."969364 21.602,322 22.776.68 23.916.796 25.111.574 411,619 432.200 453.810 476,501 52.342 581.90 579. 190 60,.149 638.587 670.415 704.009 736.20 776.170 814.978 855.727 88,514 943,439 1,611 1,040,142 1,092.149 1.140,757 1.204.004 1.264.29N 1,327,514 1.363.800 1.463,564 1.536.763 1,613.002 1,604,282 1.778,996 1.1157.9411 1,901.343 2,054.410 2.162.3W0 2.270.490 2.384,024 2503.228 2.629.387 2,759.m 2,587.767 3.042.666 1,356.176 1,423,116S 1,495,164 1.,6.944 1.648.441 1,817,40*

1.909,276 2.003.090 2,103.875 2.200.0*8 2.319.522 2.438.496 2.887,273 2.115,137 2.419.303 2.990.363 3.109.381 3.263,800 3.4290.90 3.511.340 3.776,267 3,967,170 4,165.529 4.373.804 4.592.495 4,92.119 5.0*3,225 5,310.387 5,582.209 5,9141,316 6,154.382 8,402.101 6.78,200 7,124,467 7.480,690 7.854,724 9.247.401 9.*59.834 9,09,825 0.547,487 10.024.840 10.526.062

Arizona Public Service Decommissioning Funding Plan PV Unit #2 120%

100%

80%

"*0

"" 60%

U 40%

20%

0%

1 1

1 2

2 2

9 9

9 0

0 000 0

0000 000 0

0 00 0

9 9

9 0

0 0

1 1

1 2

2 2

3 3

1 3

5 7

9 1

3 5

7 9

1 3

5 7

9 1

3 5

7 9

1 3

5 7

Year

-- +- Funded Curve --x-Funded Floor.

Actual FILENM: W EXCELAJOKOWA NIOMO4IMTE 2AM.

ARIZONA PUBLIC SERVICE COMPANY NUCLEAR DECOMMISSIONING FUNDING REQUIREMENT UNIT TWO IBased on 1995 Cost tudy Rote of Return 8.7500*4 Escalation Factor 5.0000%1 Funding Plan Funding Floor Actual Funding Data Year Fund $

Est. Cost

% Funded

% Band

% Floor

$ Floor

$ In Fund Est. Cost

% Funded 1991 7,589,283 120,570,113 1992 10,494,062 126,598,619 1993 15,402.712 132,928,550 1994 20,651,178 139,574,977 1995 26,282.984 146,553,726 1996 29.965,846 142.898.646 1997 35,920,433 150.043.579 1998 42,285,281 157,545,757 1999 49.097,560 165,423.045 2000 58,381,137 173,694,198 2001 64.160,900 182,378.908 2002 72,501,087 191,497,853 2003 81,394,247 201,072,746 2004 90,911.020 211,126,383 2005 101,087,312 221,682,702 2008 111,984,125 232,766,837 2007 123,620.139 244,405,179 2008 136,062,807 256,625,438 2009 149,359,854 269.458.710 2010 163,589,863 282,929,545 2011 178,780,350 297,076.022 2012 195,049,719 311,929,824 2013 212,433,568 327,526,315 2014 231,033,787 343,902,631 2015 250,890,725 361,097,762 2016 272,155,772 379,152,650 2017 294.880,288 398,110,283 2018 319,155,061 418.015,797 2019 345,164,004 438,916,587 2020 372,929,867 460,862,416 2021 402,657,797 483,905,537 2022 434,375,388 508,100,814 2023 468,364,789 533,505,854 2024 504,867,195 560,181,147 2025 543,487,749 588,190.204 2026 572,991,825 610,020,042 2027 543,380,934 569,283,325 2028 490,298,670 506,925,838 2029 418,886,159 429,421,702 2030 334,135.906 340,087,438 2031 247,131,950 249,729,133 2032 152,805,585 153,464,989 2033 105,181,376 105,181,376 2034 78,050.522 78,050,522 2035 38.612,705 38,612.705 2036 13,067,526 13,067,526 2037 10.526,082 10,526,082 6.29%

8.29%

11.59%

14.80%

17.92%

20.97%

23.94%

26.84%

29.68%

32.46%

35.18%

37.86%

40.48%

43.06%

45.60%

48.11%

50.58%

53.02%

55.43%

57.82%

60.18%

62.53%

64.86%

67.18%

69.48%

71.78%

74.07%

76.35%

78.64%

80.92%

83.21%

85.49%

87.79%

90.09%

92.40%

93.93%

95.45%

96.72%

97.50%

98.25%

98.96%

99.44%

1'00.00%

100.00%

80%

81%

82%

83%

84%

85%

86%

87%

88%

89%

90%

91%

92%

93%

94%

95%

96%

97%

98%

99%

100%

5.04%

6,071.426 6.63%

8,395,249 9.27%

12,322,170 11.84%

16,520,943 14.34%

21,010,388 16.77%

23,964,103 19.15%

28,738,346 21.47%

33,828,225 23.75%

39,287,973 25.97%

45,104,909 28.15%

51,339,662 30.29%

58,000,870 32.39%

65,127,462 34.45%

72,728,816 36.48%

80,869.850 38.97%

90,707,141 41.47%

101,354,828 44.00%

112,915,193 46.56%

125,462,278 49.14%

139.031.579 51.76%

153,766,549 54.40%

169,693,255 57.08%

186.941.540 59.79%

205,620,071 62.53%

225,801,653 65.32%

247,661,753 68.14%

271,289,863 71.01%

296,814,207 73.92%

324,454,163 76.87%

354,283,374 79.88%

386,551,485 82.93%

421,344,124 86.03%

458,997.494 89.19%

499,620.523 92.40%

543,487,749 93.93%

572.991,825 95.45%

543,380,934 96.72%

490.298,670 97.50%

418,686,159 98.25%

334,135,906 98.96%

247,131,950 99.44%

152,605,585 100.00%

105,181,376 100.00%

78,050,522 100.00%

38,612,705 100.00%

13.067,526 100.00%

10.526,082 7.786,931 120.570,113 10,625,997 126,598,619 14.545,580 132,928.550 18,150,013 139,574,977 25,307.510 146,553,728 31,299,677 142,898,646 40,007,265 150,043,579 49,309,948 157.545,757 FILENAME:

WEXCEULOIECONAFSARS EXH*6BITE 2r2a9 6.46%

8.39%

10.94%

13.00%

17.27%

21.90%

26.66%

31.30%

ARIZONA PUBLIC SERVIdi COMPANY NUCLEAR DECOMMISSIONING FUNDINd REQUIREMENT UNIT TWO Based on 1995 Cost Study Rate of Retur 6.7500% Annual Period Rate of Return 1.6875% Quarter Period Rate of Return 5.0000% Annual Estalaction First Quarter Second Quarter Third Quarter Fourth Quarter Contrib Contrib Contrib Contrib Quarter Earnings Quarter Earnings Quarter Earnings Quarter Earnings ANNUAL Year Contrib Eamings to Date Contrib Earnings to Date Contrib Earnings to Date Contrib Earnings to Date CONTRIBS 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033

.2034 2035 2036 2037 937,645 937.645 937,645 937.645 937,645 937,645 937.645 937,645 937,645 937.645 937,645 937,645 937,645 937,645 937,645 937,645 937,645 937,645 937,645 937,645 937,645 937.645 937,645 937.645 937.645 937,645 937,645 937,645 937,645 937.645 0

0 0

0 439,343 534,670 636,595 745,576 862,102 986.695 1.119,913 1.262.353 1.414,654 1.577,499 1:,76,617 1.937.789 2,136.849 2.349,690 2,577,265 2,820.595 3,060,770 3,356,957 3,656.401 3,974,437 4,314,490 4,678,085 5,066,850 5,482,528 5.926.984 6,402,207 6,910,330 7.453.629 8,034,539 8.655,664 0

0 0

0 27,412,158 33,156,433 39,298,372 45,885,505 52,887,266 60,395,129 68,422,746 77,006,097 86,183,656 95.996,558 106,488,787 117,707.370 129,702,593 142.528,219 156,241,737 170.904,613 186,582,568 203,345,876 221,269.672 240,434,295 260,925,644 282,835,566 306,262,268 331,310,748 358,093,283 386.729,916 417.349,004 450,087,788 485.093,006 522.521,563 0

0 0

0 FItENAME: W F.XCE.OECOMWafSRaIxMHINITE

=10g 937,645 937,645 937.645 937,645 937,645 937.645 937.645 937,645 937,645 937,645 937,645 937,645 937,645 937,645 937,645 937,645 937,645 937.645 937,645 937,645 937,645 937,645 937,645 937,645 937.645 937,645 937,645 937,645 937,645 937,645 0

0 0

0 462,580 559,515 663,160 773,980 892,473 1,019,168 1,154,634 1,299,478 1,454,349 1.619,942 1,796,998 1,986,312 2.168,731 2.405,164 2,636,579 2,884,015 3,148,581 3,431,462.

3,733,926 4,057,329 4,403,120 4,772,850 5,168,176 5.590,6869 6,042,824 6.526,067 7,042,764 7.595,231 8,185,944 8,817,551 0

0 0

0 28,812.384 34,653,593 40,899,177 47,577,130 54,717,384 62,351.942 70.515.024 79,243.220 88,575.650 98.554.145 109,223,430 120,631,327 132,828.969 145,871.028 159,815,961 174,726.273 190,668,794 207,714.982 225,941.243 245,429,268 266,268.409 288,546,061 312,368,087 337.839,262 365,073,752 394,193.629 425,329,413 458,620,683 494,216.595 532,276.759 0

0 0

0 937,645 937,645 937.645 937.645 937,645 937.645 937,645 937.645 937.645 937.645 937,645 937.645 937,645 937,645 937,645 937.645 937,645 937,645 937.645 937,645 937,645 937,645 937,645 937.645 937,645 937.645 937,645 937,645 937,645 937,645 0

0 0

0 486,209 584,779 690,174 802,864 923,356 1.052,189 1.189,941 1,337,229 1.494.714 1,663,101 1,843,145 2.035.654 2,241,489 2,461,574 2,696,894 2,948,506 3,217,536 3.505.190 3,812,758 4,141,619 4,493,246 4.869,215 5,271,211 5.701,038 6.160,620 6.652,017 7.177,434 7,739,224 8,339,905 8,982,170 0

0 0

0 30,236,237 36,176,017 42,526,996 49,317,639 56,578.384 64.341,776 72,642,610 81,518,094 91,008,009 101,154,891 112,004,220 123,604,626 136,008,103 149,270.247 163,450,501 178,612,424 194,823,975 212,157,818 230,691,646 250,508,532 271,697,300 294,352,921 318,576,944 344,477,944 372.172,016 401,783,291 433,444,492 467,297,531 503,494,145 542,196.575 0

0 0

0 26,035,170 937,645 510,237 31.684.119 937,645 610,470 37,724,133 937,645 717,643 44,182,284 937,645 832,235 51,087,519 937,645 954,760 58,470,790 937,645 1.085,767 68,365,188 937,645 1.225,844 74,806,099 937,645 1,375,618 83.831.357 937,645 1,535,760 93,481,414 937,645 1,706,989 103,799,525 937,645 1,890,071 114,831.936 937.645 2,085,828 126,628,099 937,645 2,295.137 139,240,884 937,645 2,518,935 152,726,827 937,645 2,758,227 167,146,373 937,645 3,014,085 182,564,153 937,645 3,287,655 199,049,274 937.645 3,580,163 216,675.626 937,645 3,892,922 235,522,212 937.645 4.227,331 255,673,509 937.645 4.584.892 277,219.837 937,645 4.967.206 300,257,772 937,645 5,375.986 324,890,574 937,645 5.813,085 351,228,654 937.645 6.280.403 379,390.064 937.645 6.780,093 409,501,029 937,645 7,314,376 441,696,513 937.645 7,885,646 476,120,822 937,645 8.496.464 512,928,254 (6,281,091) 9,149,567 545,065.051 (67,845.446) 36,791,891 514,011,496 (86,496,813) 34,695,776 462,210,458 (97,952,789) 31,199,208 395.456,876 (105,528,906) 26,693,339 316,821,309 (102,250,167) 21,371,938 235,743,081 (103,572,000) 15,912,658 148,083,738 (53,292,250) 9,995,652 104,787,141 (30,647,545) 7,073,132 81,012,728 (41,276,518) 0 39,736,210 (26,167,442) 0 13,568,768 (3,042,686) 0 10,526,082 (10.526.082) 0 0

4.068,818 3,750,580 3,750,580 3,750,580 3,750,580 3,750,580 3,750,580 3.750.580 3,750.580 3,750.580 3.750,580 3.750.580 3,750,580 3,750,580 3.750.580 3,750,580 3,750.580 3.750.580 3,750,580 3,750,580 3,750,580 3,750,580 3,750,580 3,750,580 3,750,580 3.750,580 3,750,580 3,750,580 3,750,580 3,750,580 0

0 0

ESTIMATED ANNUAL COSTS UNIT TWO 105 PV DORM Year FV Doebrs 844 PV Lia 10 II 12 13 14 10675 7.215,736 1.670,253 03.855.453 14,950,37 76,903.943 18.152.755 60,521.740 19.578,073 91.264.310 20.097.,34 73.790,626 1,936.9062 1995 0

1996 1

1"07 2

1908 3

Im 4

200D 8

2001 6

2002 7

2003 8

2004 0

2005 10 2000 11 2007 12 2009 13 2000 14 2010 1I 2011 16 2012 17 2013 18 2014 19 2015 20 2016 21 2017 22 2018 23 2019 24 2020 25 2021 20 2022 27 2023 28 2024 29 2025 30 2026 31 2027 32 2028 33 2020 34 2030 38 7.218.736 67.845.446 6.496.813 97.952.769 105.528.985 102,250.167 69,619,850 17.882.474 2031 36 103.572.000 33,735.634 8.763.145 2032 37 53.292.250 16,292,688 4,M.80,81 2033 38 30.647.,45 24,477.10I 6.158.309 2034 39 41.276.516 15$.17.373 3.716.972 2035 40 26.197,442 1.04.322 411.620 2036 41 3,042.68 0.241.999 1.356.176 2037 42 10,520.002 552.283.787 13,093,0940 738,017.379 26.14,0(

467.0758.Q 1.670.253 1.753.765 1.841.454 1,933.526 2.020.203 2.131.713 2.238.2N8 2,350.213 2,467,724 2.51.110 2.720.686 2,88.859 2.09.534 3.149.511 3,20696*

3.472.335 3.45.02 3.828,250 4,019.062 4.22=.845 4.431.678 4,653,262 4.885.925 5.130,221 5,386.732 5,56.068 5.938,872 6,235.818 6.547,60@

0.874.067 7.216.736 13.003,940 142,8M.646 150.043.579 157.545,757 105.423.045 173.694.198 192.378,908 191.497.853 201.072.748 211,126.383 221,062,702 232,766,837 244,405.179 25*.625.438 269.456.710 282,929.545 291,076.022 311.829.824 327.526.315 343,902,631 361.007.762 379,152.650 308.110.293 418.015.797 438.916,567 460.U62.415 483.905.537 508.100,814 533.W0.604 560,181.147 U68.190,204 010.020.042 569,283.325 N08.925.838 429.421,702 340.067.436 249,729.123 153.464.98 105.181,376 78.050,522 38.612.705 13.067.520 10.526.062 14.950.387 15.607.906 16.4828002 17306.942 18.172.209 19,080,903 20.034.948 21.036.960 22,068.531 23,192,957 24.352.60S 25.570.225 26.946.747 28,191.194 29,6w0,743 31.060.761 32.634.,20 34.,266.61 35,979.880 37.779.883 39.6*7.827 41,651.219 43.733.750 45.920.4609 48,216,492 50.627.317

$3.156,682 55,81.616 58,607.447 81.537.926 84.014.711 67.845.446 18.152.755 19.060.392 20,013.412 21.014.063 22.04.767 23.106.026 24.326.427 25.,42.749 26,319.886 28,190,880 26.56.924 31.047.371 32,5"9,730 34,229.720 35.941.212 37,738.273 39.625.187 41.600,446 43,66.706 45.871.107 46.104.692 50.572.895 53.101.540 55,756.,17 5a.544,448 61,471.670 64,45,254 67.772.516 71.161.142 74.719,199 78.455,159 82.377,017 60,496.813 19.576.073 20.067,934 20,55W.970 21,092.330 21.504.825 22.146.947 22.664.060 23,254,294 23.797.270 24,417.000 24.987.133 25,437,950 26.230.490 26,919.752 27.548.314 20.265.740 28.925.730 29.879.027 30.372.016 31.162.979 31.890.617 32,721.127 33.485,148 34,357.194 35.150.400 36.075.043 36.917.376 37.879.796 38.763,245 39.772.735 40.701.407 41.761.371 42.73i,477 43.849,440 44.873.301 46.041.912 47.116.966 48.344.006 49.472,814 50,761,206 51.940.45*

53,299,268 54.543.778 55.064,232 57.270.67 50,762,443 60.134.515

$1.70,0566 63.141.241 54,705.594 06.298.303 8.024.874 60.613.218 71,426.117 18.536.062 19.463,810 20.437.000 21.45B6851 22,531.793 23,050.383 24,841.302 26.093.367 27.387.535 26,756,912 30.194.758 31.704.460 33.289.720 34,54.206 39.701.917 38.537.012 40.463,83 42,497,050 44.011.400 46,841.979 49,184,078 51,543,282 54,225.447 50.936.710 59.783.555 62.772.?33 65,911.309 73.093.79 74.987.423 60.206.938 76,748.,73 78.747,294 72.667.284 80.506,002 82,64.059 76,300,049 04.615,302 96.318.992 80.115.6"1 "0*.846.067 91.150,36 84.121.465 93.288.370 95,717.828 U8.327.538 97,952,789 100.503.720 92.743.915 105.528.908 97.381,111 102.250.167 17,882.474 8.793.145 18.77.507 9.201.302 19.715.427 9.661,367 20.701.109 10.144.430 21.736.259 10.651.957 22.923.072 11.194.240 23.964.225 11.743.452 25.162.436 12.320.602 26.426,558 12.947.158 27.741,580 13,5N4.514 26.128,600 14.274.240 30.505,099 14.987.952 32.114.314 15.737.349 33.720.071 16.524.217 35.406.075 17.350.427 37.176.379 18,217,949 39.035.190 19.128.246 40,900,958 20.085,289 43.036,305 21,00,9553 45.10".121 22.144.031 47.447.527 23.251.232 49.819,903 24.413.794 52.310.898 25.634.484 54.926.443 26.916.208 57,672.765 28.262.018 60.556,404 29,675,119 63.54.224 31.150,875 66.763,435 32.718,919 70.101.607 34.352,60 73.606.687 38.070.203 77.287.021 37.873.607 81.151.372 39,707.496 85.208.941 41.755,873 89.460.388 43.843.566 03.942.057 40.035.940 U6.640.000 48,37.642 103.572.000 50,754.524 53.292,250 FILERAM: W;EXCELM)ECONNAF8R*OI.XHIatTE 2aM 2024 Tagel S's 4.830.581 5.072,436 5.326.057 5,682,380 5.871,978 6.165.577 6,473,M50 6.797.549 7.137.426 7.494.298 7.M96.012 8.262.463 8.875.548 9,100.365 9.W4.834 10.043,078 10.545.220 11.072.491 11.0n2.115 12.207.421 12.817.'m2 13.458.682 14.131.616 14.038.198 15.6w0,106 10.350,112 17,177.407 18.035,921 18.937,717 19,U64.002 20,978.8&3 21.022.774 23,018,913 24.160,888 25.378.351 26.047,200 27.879.632 20.378.614 30.847.545 6.156,300 6.464.124 6.787.330 7.126.697 7,483,032 7,.,57.,182 8.250.042 8.02.545 9.005.672 9.550.4S5 10.027.978 10,529.377 11.055.846 11,00.628 12.180.070 12.798.624 13.436.450 14.110.372 14.815.601 15.580.68 16.334.520 17.151.246 18.000.244 19,9S4.711 20.847.440 21.889.819 22.984.310 24.133,525 25.340,ol 26,007.211 27.937.572 29.334,451 30.901,173 32.341.232 33.9U5.203 35.6W5.208 37.439.019 39,310.1M0 41,270.015 3.718.972 3.902.821 4.007.9M 4.302d00 4.516.003 4.743.,03 4.,01,000 5,230.153 5.491,01 8.7M.244 6.064.,66 9.357.284 6.875.148 7.009,986 7.3*9,201 7.727.318 9.113,U84 8,319,38 8.045,337 9,M32,803 8ý.82234 10.3**,345 10,.73.112 11.416,708 11.=07.907 12.60.907 iZ.216.338 13.577.153 14.571.011 15.210.80l 10,04.,6" 18,687,760 17.M11.104 18.3ft.712 19.6,.54 20.0X6876 21.5n.019 22.004,420 23,7348,41 24.921,373 29.151.442 411.619 432,200 453,910 476.501 5W0.320 525.342 651.10m 570.190 608.149 670.48U 704.000 739.209 776.170 414,978 85&,727

&NS514 943.439 990.611 1,040,142 1.002.149 1,146.757 1.204.004 1.264.29M 1.327.514 1.393,9*

1.462.084 1,5M.763 1.013.00 1.094.262 1.778,996 1.167,946 1,91.3,43 2.O.410 2.162,360 2.270.4*0 2.384.024 2.503.226 2.028.,37 2.897.797 3.042.,86 1.356.176 1.423.986 1,495,11k4 1.50.944 1,048,441 1,T30.0*3 1,817.406 1.9*8.27T 2.003.60 2.103.476 2,2D00006 2.319,22 2.430,498 2.557.273 2.685.137 2.81i,393 2,660.363 3,108.381 3,263.&00 3,4269,50 3.54.,340 3.778.237 3.967.170 4,1.5,$28 4.373.804 4.562,400 4.922.119 S.063.225 5.318.387 5.582.205 S.681.316 5.154,32 6.4*2.101 6.795.205 7.124.407 7.480.690 7.&S4,724 8,247.461 8.059.834 9,002.A25 9.647.407 10,024.040 10.526.002 6

Arizona Public Service Decommissioning Funding Plan PV Unit #3 120%

100%

80%

"0 60%

LL 40%

20%

0%

liii 1

1 1

2 2

2 9

9 9

990 00 0

0 0

0 00000 0

9 9

9 0

0 0

1 1

1 2

2 2

3 3

1 3

5 7

9 1

3 5

7 9

1 3

5 7

9 1

3 5

7 9

1 3

5 7

Year I-+- Funded Curve -x-Funded Floor

Actual FILENAE: W EXCEILMECOW"ASROGNF.w OuTE 209m

ARIZONA PUBLIC SERVICE COMPANY NUCLEAR DECOMMISSIONING FUNDING REQUIREMENT UNIT THREE Based on 1995 Cost Study Rateb of Return 6.7500%J Escalation Factor 5.0ooQ%I Funding Plan Funding Floor Actual Funding Data Year Fund $

Est. Cost

% Funded

% Band

% Floor

$ Floor

$ In Fund Est. Cost

% Funded 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 8,006,475 127,342,404 6.29%

10.665,274 133,709,524 7.98%

15,618.562 140,395,000 11.12%

20,914,756 147,414,750 14.19%

26,577,594 154,:'85,488 17.17%

32,399,151 161,350,352 20.08%

38,830,576 169,417,870 22.92%

45,699,623 177,888,764 25.69%

53,046.429 186,783.202 28.40%

60,895,993 196,122,362 31.05%

69,294,933 205,928,480 33.65%

78,273,415 216.224.904 36.20%

87.885,693 227,036,149 31.71%

98,144,322 238,387,957 41.17%

109,134,007 250.307,354 43.60%

120.872,170 262,822,722 45.99%

133.428,525 275,963,856 48.35%

146.851.407 289,762,051 50.68%

161,191.731 304.250.154 52.98%

176.535,067 319,462,661 55.26%

192,942,669 335,435,794 57.52%

210,479,252 352,207,584 59.76%

229,250,155 369,817,963 61.99%

249,294,289 388,308,861 64.20%

270,728,938 407,724,305 66.40%

293,683.817 428,,110,520 66.60%

318,167,457 449,516,046 70.78%

344.412,452 471,091,848 72.97%

372,436,968 495,591.440 75.15%

402.402,904 520,371,012 77.33%

434.434,342 546,389.563 79.51%

468.720,287 573,709,041 81.70%

505,348,740 602,S94,493 83.89%

544.4W6,239 632,514,218 86.08%

586,369.143 664,139,929 W8.29%

627.918,944 693.756,429 90.51%

666,845,226 724,674,229 92.02%

652,902,999 698,291,977 93.50%

606,715,888 638,513,880 95.02%

547,039,202 567,880,413 96.33%

463,037,337 476,277,862 97.22%

368,845,464 376,449.749 97.98%

261,055.055 264,439.885 98.72%

154,919,964 155,917,838 99.36%

58,906,705 58.906,705 100.00%

13.067.526 13,067,526 100.00%

10.526.082 10,526.082 100.00%

80.00%

81.00%

82.00%

83.00%

84.00%

85.00%

86.00%

87.00%

W8.00%

89.00%

90.00%

91.00%

92.00%

93.00%

94.00%

95.00%

96.00%

97.00%

98.00%

99.00%

100.00%

10000%

5.03%

6.38%

8.90%

11.35%

13.74%

16.06%

18.33%

20.55%

22.72%

24.84%

26.92%

28.96%

30.97%

32.94%

34.88%

36.79%

39.16%

41.56%

43.98%

46.42%

48.89%

51.40%

53.93%

56.50%

59.10%

61.74%

64.41%

67.13%

69.89%

72.69%

75.53%

78.43%

81.37%

84.36%

87.41%

90.51%

92.02%

93.50%

95.02%

96.33%

97.22%

97.98%

98.72%

99.38%

100.00%

8.425,913 127,342.404 10.625,686 133,709,524 14.358.300 140,395,000 17.548,946 147,414,750 23,923.294 154.785,488 29,189.706 161.350,352 38,502,075 169.417,870 44.699,986 177,888.764 FILENAME:

W:EXCE.DOECOMAYAFSRMIEAB(TE 2r2nm 6.62%

7.95%

10.23%

11.90%

15.46%

18.09%

21.55%

25.13%

6,405,180 8,532,219 12,494,850 16,731,805 21,262,075 25,919,321 31.054,296 36,559.699 42.437.143 48,716.795 55,435,947 62,618,732 70,308,555 78,515,457 87,307.205 96,697,738 108.077.106 120.418.154 133.809.218 148,289,456 184,001,269 181,034,698 199,447,635 219,378.974 240.948.755 264.315.435 289.532.386 316,859.455 346,366,380 378.258.730 412,712,625 449,971,475 490,188,278 533.578.874 580.505.452 627,918,944 666,845,226 652,902,999 606,715,888 547,039,202 463.037.337 368,845.464 261,055,055 154,919,964 58,906,705 13,067.526 10.526,082

ARIZONA PUBLIC SERVICE COMPANY NUCLEAR DECOMMISSIONING FUNDING REQUIREMENT UNIT THREE Based on 1995 Cost Study Rate-of Retur 6.7500% Annual Period Rate of Return 1.6875% Quarter Period Rate of Return 5.0000% Annual Estalaction First Quarter Second Quarter Third Quarter Fourth Quarter Contrib Contrlb Contrib Contrib Quarter Earnings Quarter Earnings Quarter Earnings Quarter Earnings ANNUAL Year Contrib Earnings to Date Contrib Earnings to Date Contrib Earnings to Date Contrib Earnings to Date CONTRIBS 1995 1998 1,096.015 1997 1.096,015 1998 1,096,015 1999 1.096,015 2000 1,096.015 2001 1,096,015 2002 1,096,015 2003 1.096.015 2004 1.096,015 2005 1.096,015 2006 1,096,015 2007 1.096,015 2008 1.096,015 2009 1.096,015 2010 1,096.015 2011 1,096,015 2012 1,096,015 2013 1,096.015 2014 1,096,015 2015 1,096,015 2016 1,096,015 2017 1,096,015 2018 1,096,015 2019 1.096.015 2020 1,096,015 2021 1,096,015 2022 1.096,015 2023 1.096,015 2024 1.096.015 2025 1.096,015 2026 1.096.015 2027 0

2028 0

2029 0

2030 0

2031 0

2032 0

2033 0

2034 0

2035 0

2036 0

2037 0

414,244 518,796 630.586 750.115 877,918 1,014,570 1,160.681 1,316.907 1.483.949 1.662.554 1,853.524 2.057,715 2,276.041 2.509,481 2,759.082 3,025,963 3.311,318 3,616.429 3,942,661 4,291,478 4,664.443 5,063.228 5,489,619 5.945,529 6,433.000 6,954.216 7,511,519 8,107.400 8,744,533 9,425,774 10.096.471 0

0 0

26,058,033 32,356.262 39,094,644 46,297,370 53,998,726 62,233,231 71,037.794 80,451,877 90,517,678 101,280,313 112,788.023 125,092.387 138,248.557 152,315,500 167,356,268 183,438,277 200,633,610 219,019,340 238,677,874 259,697,328 282,171,915 306,202.369 331.896,402 359,369,179 388,743,837 420,152,042 453,734,571 489,641,948 528,035,116 569,086,163 609,501,883 0

0 0

1.096,015 439,729 1,096,015 546,046 1,096.015 659,722 1,096,015 781.268 1,096,015 911.229 1,096,015 1,050,186 1,096,015 1,198,763 1,096.015 1,357,625 1.096,015 1.527.486 1.096,015 1,709,105 1.096.015 1,903,298 1,096.015 2,110,934 1,096,015 2,332,944 1,096,015 2.570,324 1,096,015 2,824,137 1,096.015 3.095,521 1.096,015 3,385,692 1.096.015 3,695,951 1.096,015 4,027,689 1,096.015 4,382,392 1.096,015 4,761.651 1,096,015 5.167,165 1.096.015 5,600,752 1.096,015 6,064.355 1.096,015 6,560.052 1.096,015 7,090,066 1.096.015 7,656,771 1.096,015 8,262.708 1.096,015 8,910.593 1.096.015 9.603,329 1.096,015 10,285,344 0

0 0

0 27,593,778 34,000.324 40,850,381 48,174.654 56,005,970 64,379,432 73,332,572 82,905.518 93,141,179 104,085.434 115,787,336 128,299,337 141,677,516 155,981.839 171.276.421 187,629,814 205.115.318 223,811.306 243.801.579 265,175.738 288,029.561 312,465,550 338,593,169 366,529,549 396,399.905 428,338,123 462,487,357 499,000,671 538.041,724 579,785,508 620.683.223 0

0 0

1.096,015 1.096.015 1.096,015 1.096.015 1.096.015 1.096.015 1.096.015 1.096.015 1,096.015 1,096,015 1.096,015 1.096.015 1.096.015 1.096.015 1,096,015 1,096,015 1,096.015 1.096,015 1,096,015 1,096,015 1.096,015 1.096,015 1,096,015 1,096.015 1.096.015 1.096,015 1.096,015 1.096,015 1.096.015 1,096,015 1,096,015 0

0 0

465,645 573,755 689.350 812.947 945.101 1,086.403 1.237.487 1.399.031 1,571.757 1,756,442 1,953,911 2,165,051 2.390.808 2,632,194 2,890,290 3,166,253 3,461,321 3,776,816 4,114,152 4,474,841 4,860,499 5,272,856 5,713,760 6,185,186 6,689,248 7,228,206 7,804,474 8,420,638 9,079.454 9.783,880 10.477,404 0

0 0

29,155,438 35,670,094 42,635,747 50.083,616 58,047,086 66,561,851 75.666.074 85,400,564 95.808,952 106,937,891 118,837,263 131,560,403 145.164.340 159,710,048 175.262.726 191,892,082 209,672.654 228,684,137 249,011.746 270,746,592 293,986.096 318,834,421 345,402,944 373,810,750 404,185,169 436,662,344 471,387,847 508,517,322 548,217.194 590,665.403 632,456,642 0

0 0

24,547.774 1,096,015 491,998 30,743.451 1.096.015 601,933 37,386.043 1,096,015 719,478 44,451,240 1.096,015 845,161 52,024,793 1,096,015 979,545 60,122,646 1.096,015 1,123,231 68,761,097 1,096,015 1.276,865 78,038,955 1,096.015 1,441,135 87,937,714 1,096,015 1,616,776 96,521,743 1.096,015 1,804.577 109,838.483 1.096.015 2.005.379 121,938.657 1,096,015 2,220,082 134,876,500 1.096,015 2.449,648 148,710,003 1,096.015 2,695.107 163.501,171 1.096.015 2,957.558 179.316,300 1.096,015 3.238.179 196,226,276 1,096.015 3.538.226 214,306,895 1.096,015 3,859,045 233,639,198 1.096.015 4,202,073 254,309.835 1,096.015 4,568,849 276,411.456 1,096,015 4,961.015 300,043.126 1,096,015 5,380,331 325.310,768 1,096,015 5.828,675 352.327.634 1,096,015 6.308.058 381.214,822 1,096,015 6.820.625 412.101,809 1.096,015 7,368,677 445.127.037 1,096,015 7,954.670 480,438.532 1,096,015 8,581.230 518,194,568 1.096.015 9.251.185 558,564,374 (2,323,505) 9.967.479 598.309.377 (2.494,481) 10,672.708 640.,34,867 (59,634,251) 43,242,854 624,243,470 (90,183,521) 42,136,434 576,196,383 (97,675,391) 38,893,256 517,414.249 (114.282,450) 34,925,462 438,057.261 (117.754,291) 29,568.865 349,871.835 (124,602.239) 23,616,349 248.885,944 (115,946,706) 16,799,801 149,739,039 (99,816,214) 10,107,385 60.030,210 (46.461,442) 0 13,568.768 (3.042.686) 0 10,526.062 (10.526,082) 0 (0)

FIL8N4AM:

W:EXCEUOIOOAUSRA9WEXj-IUE 3,573.692 4,384,061 4.384.081 4,384,061 4,384,081 4,384.061 4,384,061 4,384,061 4,384,061 4,384,061 4.384,061 4,384,081 4,384,061 4.384,081 4,384,061 4,384,061 4.384,061 4,384.061 4.384.061 4,384,061 4,384,061 4,384,061 4,384.061 4,384,061 4.384,061 4.384,061 4,384.061 4,384,061 4.384,081 4,384,061 4,384,061 4,384.061 0

0 0

ESTIMATED ANNUAL COSTS UNIT THREE 106 PV Dobq Yew PV Daftm 5.m PY 168b 5

a a

10 11 12 13 14 1 0675 3.610.334 791.200 3.W0,406 791.200 55.863.467 12.515.212 79.139,167 18.025,206 80,293.706 18.502,070 "6,008.133 20.718.200 64,944,903 20.331.152 84,201,251 20.480,048 73.397,632 18,157.876 59.191.320 14.887.3865 27.551.777 6.50,847 1,604.322 411,620 8.241.9610 1.350.176 647.875.702 153.067,002 29.1% of 526.00:.300 1995 0

lo6 I

In7 2

1596 3

1999 4

20M 5

2001 6

200 7

2=03 2004 9

200 tO 20M 11 2007 12 2006 13 209 14 2010 15 2011 16 2012 17 2013 18 2014 19 2015 20 2016 21 2017 22 2018 23 2019 24 2020 25 2021 20 2022 27 2023 26 2024 29 20 30 3.419,520 2026 31 3.560.490 2027 32 19,634.251 2029 33 90,193,521 202 34 97.875.391 2030 35 114.,22.450 2031 36 117.754,291 2032 37 124.602.239 2033 38 115,046.706 2034 30 96,616,214 2035 40 46,481,442 2036 41 3.042.608 2037 42 10.526.062 800.935.260 153,667.002 161.350.352 18,417.870 177.&8U,764 1866763,202 19".122.352 205.928.480 210.224.904 227.0M.140 238,317.957 250,207.354 262.822.722 275.963.*56 280.762.051 304.250.154 319,462.,81 335.435.,9 352.207,514 368.3*9.301 407.724.305 426.110.520 449,516.046 471,991.,46 4".501.440 520.371.012 546.38.,M

$73.709,041 602,394,493 032,514,216 "664,130.W 663, 750,420 724.674,229 608.291,977 638,513.110 567.860.413 470.277.052 379.449.749 254.439,5 155.7 617.a6 10.906.706 13.067.526 10.526.062 791.200 791,200 630.760 830.760 872.299 672.298 915.913 015.013 "961,706 961.706 1.000.704 1.009.794 1.060.2*4 1.056,284 1 113,298 1.113.298 1,161103 1.1668963 1.227,411 1,227.411 1.2*8,781 1.288.781 1.353,220 1.353,220 1.420,111 1.420.81 1.491,92S 1.491.625 1,,56,522 1.56.522 1.644,848 1.544.648 1.727.060 1.727.090 1.813.445 1.,13,445 1,04.117 1.904.117 1.992.3n 1.9".323 2.009.289 2.6.289 2.204.253 2.204.253 2.314.486 2.314.496 2.430.11) 2.430.169 2,551.669 2.551.5" 2.679,284 2,679.284 2.813.248 2.813.246 2.953,910 2.053.910 3.101.600 3.101,606 3.256.6W 3,256.68 3.419.520 3.418.520 3.510.496 12,515.212 13.140.972 13,798.021 14.487,922 15.212.318 13.972.934 16,771.581 17.610.160 18.490,868 19,415.201 20395.961 21.406.210 22.475.522 23160g.26 24.179.283 26.018.226 27.319.137 26.015.094 30.119.349 31.625.316 33.206.582 34.805.911 38,610,257 38.440.770 40.362.806 42.380.949 44.499.M6 46,724,996 49,081.246 51.514.30 54.000.023 58.794.525 59.834.251 18.025,206 18.592,979 10.926.470 19.522.626 19,672.703 20.40.760 20.611.433 21.523.0G8 21,906,755 22,50.883 23.0W5.242 23.7290.77 24.155.504 24.918.371 205.33.260 26.162.189 20.631.444 27.470.200 27,963,018 26.643.814 29*301,167 30.218.004 30.820.225 31.800,304 32.370..66 33.390.320 33.,9220 35,050,836 35.888,661 30.612.827 37.473.116 38.653.400 39,346,771 40.6116.142 41.314.110 42.615.449 43.379,15 44.748,222 45.548.806 46.083,533 47.829.246 49.332.710 50.217.550 S1.769,345 52.728.437 54,389,312 55.384.850 57.106,776 5S.133.101 58.064,217 61,039.7S7 62,962.426 64.091.744 08.110.549 67.296.332 69.416,076 70.661.148 72.886.880 74.194,206 76.531,224 77.0Q3.016

$0.357.78" 01.79.112 04.375.675 85.&W8,057 86,594,456 90.163.521 93.024.181 97.875,391 20.718.298 21,754,213 22.841.923 23.914.020 25,13,221 29.442.362 27,764.501 20,152,720 30,610,302 32.140.880 33.747,924 35.435.320 37.207.018 39,0]7.441 41,020.813 43.071,853 45,225.446 47.488.718 49.141,054 52,354.107 54.871,812 57.720.403 60.60m.423 63.036,744

6,61,581 70.159.510 73.7.,4"6 77.350.860 81.218.403 85.279.323 69.43,260 94.020,454 "H.721.477 103.057,51 10*,640.428 114,262,450 20.331.152 21.3147.709 22.415.065 23.13S.649 24.712.642 25,948,274 27,245.67 28,807.972 30,038,370 31,540.2119 33.117,303 34.773.1609 30.511.827 38.337.418 40.254,211 42.267.004 44.380.354 4a.,50.372 48.929.340 51.375.807 53.944.580 S6,641.827 59.473.919 62,447.615 65.es

,e, 6U.948.495 72.290,2 75.900.46 79.700,739 63.665.776 i7.670.0o5 92.263,N&6 96.876.747 101.72D.U4 106.11M.613 112.146,944 117.754,291 20,489.046 18,157,876 14.7.305 6.5.647 411.019 1.358.178 21.513.501 19.0*65,770 15.631,755 6,0.266 432,200 1,423,915 22.,59.176 20.010,080 16.413.342 7.276.111 453.810 1,4*5.184 23.7168.6 21.020,011 17,234.010 7*3.*3017 478.501 1.5W9.644 24,904.56 22,071.012 18.005,710 0.021.012 50,329 1,648,441 20.149.794 23.174.503 19.000.495

.423.006 525.342 1,730,683 27.457.284 24,333.291 19."0.,20 8,644.198 581.609 1.617,406 28,830.148 25.549.955 20.948.046 6.26.300 579.190 1,908.276 30.271.656 29827.463 21.W5.449 O.7.685 MS. 149 2.003.8W 31.785,238 28.161,826 23.065.221 10.230.210 M8.5"?7 2,103.875 33,374,5*0 29.577.267 24.249,2 10.750.120 670.4895 2.209.068 35,043.225 31,056,130 25.482,481 11.287,*36 704,008 2.319,522 36.795.3*7 32,606.937 26,736,08 11.882.011 730,209 2,435,4"*

38.635.156 34,230.384 26,072,386 12.444,616 776,170 2.55*.273 40,5M.914 35.9651,353 29,476.005 13,066,680 814,978 2,66S.137 42.,58250 37.748.921 30.40,805 13.720,183 855.727 2.819.293 44.725.022 30.636.367 32.497.268 14.400.202 M8.514 2.060.323 48.901.274 41.6,18J 34.122.160 15.129.512 943,43*

3.105,391 49.306.337 43,600.064 356,826.28 1.802.3*

960,611 3.293.*00 51.774.W04 45.8"4049 37.6190,1 1.678',980 1.040.142 3.429.90 54.363.544 46.178.251 30.500.,86 17,10.629 4,02,149 3.56.340 57.081.722 50.587.184 41.475.60 18.3N.370 1.146,757 3.778.257 56.9353.06 53.116.522 43.149.484 19.305.***

1,204.004 3.067.170 62.932,58 55.772.348 45.726.915 20.270,73 1.264,299 4,165.528 06,079,228 58,560,96 46,013,206 21,264.522 1.327,514 4.373.804 86,3*3.190 61,46,014 50.413.971 22.348.748 1,303.860 4.562.495 72.852.349 64,563,464 62934.670 23.486,185 1.463,684 4,622.119 76,404,966 67,791.638 55.511,403 24.36.498 1,536,763 5.063.225 80.319.714 712181,220 58.300,473 25.071.4*0 1.613.0W2 5.316.347 64.335,700 74,740.281 61.275.407 27.1.04,3 1.804.282

.,542.206 "8.552.465 78.477.295 4.342,422 28.M,296 1.778.906 1.81.316 92.980.109 82.401.150 87,5560.43 29.040,400 1,07,946 6,154.382 97.629,1125 8,521.217 70,937,M0 31.446.9 1.961343 6.,42.101 102,5I0.571 90.*47.278 74.464,309 33.010.270 2.059.410 6.768.206 107.636.099 95.386.642 78.208.616 34.0",243 2.102.380 7.124.467 113.017.904 100.159,124 82.119,047 30.4W5.755 2.270.490 7.480.660 118.666,796 10.167.0m0 16.224,601 30.223,043 2.364.024 7.814.724 124.602,239 110.420.434 90.536.249 40,135,140 2.50.236 8.247.,41 115.94.706 95.063.061 42.141.097 2,628.307 8.651.834 00,816.214 44,24*,62 2.750.606 9.002,89n 46.401.442 2,897.797 9.547,467 3,042,66 10,024.840 10.526.082 FILENAAW:

W.EXCELJOMcO96:AFIO0IEMSITE 2MAN 2024 Targm $'s 4

Appendix B, Tab 2 Palo Verde Nuclear Generating Station Units 1, 2, & 3 SRP 1998 Annual Funding Status Report Section 2.1.7 [Restated)

Summary of Assumptions

>Investment Return Assumption:

7.65%

>Inflation/Escalation Assumption:

5.92%

>1995 Cost Study. Including 25% Contingency p0?1RepWtl9g9.xAs PJH3n4M9

SALT RIVER PROJECT NUCLEAR D-COMMISUONING TRUST (1000's)

UNIT 1 All Participants Decomn Costs in 1995$ $447,218 SRPShurein 1995$

$78,218 Plan Bdance as of 12131/95 in 1995$

$17,292 FV of Total Decomn Charges Discounted to 2024 $414,639 FV of 12/31/95 Plan Bdance in 26 years S77141 FV of Balance Owed to be Funded by Contributions and Earnings S337.49 SRP Share 17.49%

Projected return on investments 7.65%

Proaecied nation 5.92%

Years To Start of Decom (Funding Yrs Left) 26 Calender Yeas Since Year End Svdi 31-Dec 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 0

1998 1999 2000 2001 2002 2003 2004 20O5 2006 2007 2008 2OO9 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 Current Balance Annud Before Decom Termrination Payment Earnings Decom Charges Ending Costs Funded (Infkat Adi.1 IlnWa Adi.)

Chaer flnflat Acli.1 Balance (lnflt Ack.)

Rgo 721 960 805 841 1,746 1,107 1842 2.360 1,775 26 31 135 499 280 462 313 69 3,317 1,292 2.752 1,369 4,881 1,450 5,318 1,115 1,181 1,251 1,325 1,403 1,486 1,574 1,668 1,766 1,871 1,982 2,099 2.223 2355 2.494 2.642 2.798 2.964 3,139 3325 3,522 3,731 3,951 4,185 4,433 4,696 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.628 2,914 3,228 3,570 3,945 4,354 4,801 5,288 5,821 6,401 7,034 7,723 8,475 9,293 10,184 11,154 12,210 13,358 14,606 15,964 17,439 19,043 20,785 22,678 24,733 26,964 29,381 29,518 27,640 23,473 19,036 14,082 8,370 5,583 4,725 3.503 747 1.738 2.678 4,018 6.044 7,617 9,772 12,201 17,292 2J 336 27,586 34,354 38,097 42.192 46,671 51,566 56,914 62755 69,130 76,086 83,672 91,944 100,960 110,782 121,480 133,128 145,807 159,603 174,610 190,932 208,678 227,967 248,928 271,702 296,439 323,302 352,467 384,127 413,447 415,367 388,944 330309 267,877 198,167 117,783 78,561 66,488 49298 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 747 1,738 2.678 4,018 6,044 7,617 9,772 12,201 17,292 0.00 21,336 0.00 27,586 0.00 34.354 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 61 27,597 54,063 82,108 81,469 83,793 88,753 44,805 16,799 20,693 29,424 2LMT 38,097 42,192 46,671 51,566 56,914 62,755 69,130 76,086 83.672 91,944 100,960 110,782 121,480 133,128 145.807 159,603 174,610 190,932 208,678 227,967 248,928 271,702 296,439 323,302 35Z467 384,066 385,850 361,304 306,836 248,841 184,084 109,413 72,978 61,763 45,795 19,874 oM 43,630

.6.14%

44,983 8.93%

47,646 12Z68%

79,718 9.56%

84,438 11.57%

89,436 13.64%

78,218 22.11%

82.849 -

25.75%

87,754 31.44%

92-949 36.96%

98,451 38.70%

104,279 40.46%

110,453 42.25%

116,992 44.08%

123,918 45.93%

131,253 47.81%

139.024 49.73%

147,254 51.67%

155,971 53.65%

165,205 55.65%

174,985 57.70%

185,344 59.77%

196,316 61.88%

207,938 64.02%

220,248 66.20%

233,287 68.41%

247,098 70.66%

261,726 7295%

277,220 75.28%

293,631 77.64%

311,014 80.04%

329,426 82.48%

348,928 84.96%

369,585 87.48%

391,464 90.04%

414,578 9264%

411,524 93.76%

381,823 94.63%

322,319 95.20%

259,932 95.73%

191,527 96.11%

114,112 95.88%

76,063 95.94%

63,767 96.86%

46,850 97.75%

20.199 98.39%

Qo 100.00%

A C

T U

A L

F 0

R E

C A

S T

FUNDING FLOOR ANALYSIS FOR UNIT I (;000'S)

IESTMATED FUNDING ill a-Ending Fund SEst.

Cos

% Fnded 47,646 12.74%

79,718 9.56%

84,438 11.57%

89,436 13.64%

78,218 19.06%

82,849 25.75%

87,754 31.44%

92,949 36.96%

98,451 38.70%

104.279 40.46%

110,453 42.25%

116,992 44.08%

123.918 45.93%

131,253 47.81%

139,024 49.73%

147,254 51.67%

155,971 53.65%

165.205 55.65%

174.985 57.70%

185.344 59.77%

196,316 61.88%

207,938 64.02%

220.248 66.20%

233.287 68.41%

247,098 70.66%

261,726 72.95%

277,220 75.28%

293.631 77.64%

311,014 80.04%

329,426 82.48%

348,928 84.96%

369,585 87.48%

391,464 90.04%

414,578 94.64%

411.524 96.76%

381,823 96.83M%

322,319 97.20%

259,932 98.73%

191,527 98.81%

114,112 99.88%

76,063 100.00%

63,767 100.00%

46,850 100.00%

20,199 100.00%

0.00 100.00%

Minimum Minimum Minimum Floor Band Percentage J&9 Percentaae

$SAMT Saifed 80.00%

80.00%

81.00%

82.00%

83.00%

84.00%

85.00o%

86.00%

87.00%

88.00%

89.00%

90.00%

91.00%

92.00%

93.00%

94.00%

95.00%

96.00%

97.00%

98.00%

99.00%

100.00%

100.01%

100.00%

Funding Floor 10.19%

7.64%

9.26%

10.91%

12.59%

14.30%

16.03%

17.79%

19.58%

21.40%

23.24%

25;12%

27.03%,

28.97%

31.33%

33.77%

36.3M%

38.91%

41.61%

44.40 47.27%

50.25%

53.32%

56.48%

59.75%

63.11%

66.58%

70.16%

73.85%

77.64%

81.55%

85.57%

89.69%

93.93%

95.17%

95.91%

96.64%

97.33%

97.85%

98.38%

100.00%

4A857 6,090 7,822 9,761 9,848 11,843 14,065 16.534 19,274 22,311

-25,674 29,391 33,497 38,027 43,557 49,730 56,613 64,278 72,806 82.284 92.808 104,485 117,428 131,766 147,634 165,186 184,586 206,014 229,669 255,766 284,542 316,253 351,094 389,422 391,656 366,207 311,484 252.991 187,409 112.264 76,063 63,767 46,850 20,199 0.00 0q Aclual Funded 12.68%

6,044 9.56%

7,617 11-W%

9,772 13.64%

12.201 22.11%

17,292 25.75%

21,336 31.44%

27,586 36.96%

34.384 YES YES YES YES YES YES YES YES yeaw 1991 1992 1993 1994 1995 1996 1997 1998 0

6,071 7,617 9,772 12.201 14,909 21,336 27,586 34,354 38,097 42192 46,671 51,566 56,914 62,755 69,130 76,086 83,672 91,944 100,960 110,782 121,480 133,128 145,807 159,603 174,610 190,932 208,678 227,967 248,928 271.702 296,439 323.302 352,467 384,066 385A850 361,304 306,836 248,841 184,084 109,413 72,978 61,763 45,795 19,874 0.00 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035

% WO"(

J...*....*.......

% W oe 1

% WO"O

~os

.......................... I I.....................

.............- -.* I mK......

s oo'o I(M0001 I I ý 8 8 8 8 8 8 8 8 8 1 1 1 1 1 1 1 1 1 1 i i j j j j i ý villiIII4110114 140.

JýW

SALT lVR PROJECT NUICMER DECOMMISUONING TRUST ($OOO)

UNIT r2 1

Al Paticipants Decom Costs in 1995$ $464,320.8 SRP Share in 1995$

$81,209.7 Plan Balanceas of 12/31/95 in 1995$

$15,940.3 FV of Total Decom. Charges Discounted to 2025 $455,981.4 FV of 12/31/95 Plan Balance in 27 years S75,31 &

FV of Blance Owed to be Funded by Contributions and Earnings S Cdender Years Since Year End M&d 31 -Doc SRP Share 17.49%

Projected return on investments 7.65%

Projected Inflation 5.92%

Years To Start of Decom (Funding Yrs Left) 27 Curent Balance Annual Bdore Decorn Tenmination Payment Earnings Decorn Charges Ending Costs Funded fofld (flafAdi.I Charges Ifltnfla Ad.)

Banc lnflat Adi.)

REo 0.00 74 343 218 394 281 63 3,042 960 1,839 3,023 5,150 6,839 8,881 11,185 15,940 2,537 19,856 4-545 25,86O A 001

-1o0 0~4 19ooI

~

'I~f fl.r

-2fl20 711 A.r1 2,478 2.764 3,078 3,421 3,797 4.208 4,659 5,151 5,689 6,276 6,918 7,618 8,382 9,215 10,123 11,112 12,190 13,364 14,642 16.033 17,547 19,193 20,983 22.929 25,044 27,342 29,839 32.018 30.271 27,329 23,413 18,677 13.725 8,256 5,504 3,949 495,20 36.134 40,230 44,718 49,633 55,012 60,896 67,330 74,362 82,042 90,428 99,580 109,565 120,454 132324 145,259 159,351 1 74,697 191,403 209,586 229,369 250,887 274,287 299,726 327,374 357,417 390,055 425=502 450,548 425,965 384,566 329,466 262,816 193,142 116,180 77,451 55,573 22,29 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 960 1A839 43,256 3,023 44,597 5,150 47,237 6,839 78,467 8,881 83,112 11,185 88,032 15.140 81 *1o 0.00 19,856 86,017 0.00 25,860 91,110 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 6,972 54854 68,728 78,513 85,326 83,400 85,218 44,233 25,828 34,862 590,22 36,134 102.216 40,230 108,267 44,718 114,677 49,633 121,466 55,012 128,656 60,896 136,273 67,330 144,340 74,362 152.885 82,042 161,936 90,428 171,523 99,580 181,677 109,565 192,432 120,454 203,824 132,324 215,890 145,259 228,671 159,351 242.209 174,697 256,547 191.403 271,735 209,586 287,822 229,369 304,861 250,887 322,908 274,287 342025 299,726 362,272 327,374 383,719 357,417 406.435 390,055 430,496 418,531 449,010 395.694 420,737 357.237 376,917 306,053 320,717 244,140 254,378 179,417 186,037 107,924 111,832 71,947 74,220 51,624 52786 20,711 21,049 Somo 4.25%

6.78%

10.90%

8.72%

10.69%

1271%

19.63%

23.08%

28.38%

35.35%

37.16%

38.99%

40.86%

42.76%

44.69%

46.65%

48.64%

50.66%

52.72%

54.81%

56.94%

59.10%

61.29%

63.52%

65.79%

68.10%

70.44%

72.82%

75.24%

77.70%

80.20%

82.73%

85.32%

87.94%

90.61%

93.21%

94.05%

94.78%

95.43%

95.98%

96.44%

96.51%

96.94%

97.80%

98.39%

100.00%

E A

C T

U A

L m--

0 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 20O4 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 960 805 841 1,909 1,292 1,761 2,241 1,714 1,379 1,460 1,257 1,332 1,411 1,494 1,582 1,676 1,775 1,880 1,992 2,110 2.235 2,367 2,507 2.655 2.813 2.979 3,155 3,342 3,540 3.750 3,972 4,207 4,456 4,720 4,999 5295 5,608 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 95.01 F

0 R

E C

A S

T 1

2 3

4 5

6 7

8 9

10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37

FUNDING FLOOR ANALYSIS FOR UNIT 2 ($000's)

ESTIMATED FUNDING I__

1

__1 Fr-nrini I.. tn/

Balnce Est. Cos

%und 5,163 6,836 8,887 11,185 13,755 19,856 25,860 32.398 36,134 40,230 44,718 49,633 55,012 60,896 67,330 74,362 82,042 90,428 99,580 109,565 120,454 132.324 145,259 159,351 174,697 191,403 209.586 229,369 250,887 274,287 299,726 327,374 357,417 390,055 418,531 395,694 357,237 306,053 244,140 179,417 107,924 71,947 51,624 20,711 0.00 47,646 78,467 83,112 88,032 81,210 86,017 91,110 102,216 108,267 114,677 121,466 128,656 136,273 144,340 152,885 161,936 171,523 181,677 192,432 203.824 215,890 228,671 242,209 256,547 271,735 287,822 304,861 322.908 342,025 362272 383,719 406,435 430,496 449,010 420,737 376,917 320,717 254,378 186,037 111,832 74,220 52,786 21,049 0.00 10.93%

8.71%

10.69%

12.71%

16.94%

23.08%

28.38%

Ila A 1w 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 Mnimum Minimum Minimum Band frcentan SAr Funding Floor 80.00%

8.74%

4,166 80.00%

6.97%

5,469 80.00%

8.55%

7,109 80.00%

10.16%

8,948 80.00%

11.0 9=583 80.00%

13.46%

11,582 80.00%

15.15%

13,807 80.00%

16.87%

16,283 18.62%

20.39%

22.20%

24.03%

25.89%

27.79%

29.71%

32.06%

34.50%

37.01%

39.62%

4230%

45.08%

47.95%

50.91%

53.97%

57.12%

60.37%

63.72%

67.18%

70.73%

74.40%

78.18%

82.06%

86.07%

90.16%

92.55%

94.02%

95.24%

96.00%

96.72%

97.40%

97.86%

98.40%

100.00%

I 35%

3.9 E

Floor PercentcMg SA&I Satisfied?

Actual Funded 10.81%

5,150 YES 8.72%

6,839 YES 10.69%

8,881 YES 12.71%

11,185 YES 19.63%

15,940 YES 23.08%

19,856 YES 28.38%

25,860 YES 33.57%

32,398 YES Year Year 1991 1992 1993 1994 1995 1996 1997 1998 35.35%

37.16%

38.99%

40.86%

42.76%

44.69%

46.65%

48.64%

50.66%

52.72%

54.81%

56.94%

59.10%

61.29%

63.52%

65.79%

68.10%

70.44%

72.82%

75.24%

77.70%

80.20%

82.73%

85.32%

87.94%

90.61%

93.21%

94.05%

95.78%

96.43%

97.98%

98.44%

100.00%

=

80.00%

81.00%

82.00%

83.00%

84.00%

85.00%

86.00%

87.00%

88.00%

89.00%

90.00%

91.00%

92.00%

93.00%

94.00%

95.00%

96.00%

97.00%

98.00%

99.00%

100.00%

3Z398 96503 19,032 22,080 25,455 29,189t 33,314 37,866 42,886 49,020 55,863 63,486 71,972 81,407 91,888 103,520 116,419 130,712 146,537 164,046 183,403 204,791 228,408 254,470 283,213 314,897 349,803 388,120 415,564 395,574 358,978 307,887 246,044 181,207 109,436 73,029 52.786 21.049 0.00

1......................

O

÷.

a l

SALT RVER PROJECT NUCLEAR DECOMVISSIONING TRT (OW*)

Al Parlicipants Decom Costs in 1995

$534.777.4 SRP Share in 1995$

$93.536 P

Balance as of 12/31/95in 1995$

$16,791.0 FV of Total Decom. Charges Discounted to 2027 $589,193.5 FV of 12/31/95 Plan Balance in 29 years S8,0 FV of Balance Owed to be Funded by Contributions and Earnings S SRP Share 17.49%

Projected return on investments 7.65M Projected Inflation &92%

Years To Start of Decorn (Funding Yrs Left) 29 Current Balance Calender Annual Before Decom Termination Years Since Year End Payment Earnings Decom Charges Ending Costs Funded Study 31-Dec flfa Ai1fnflatAd.j Charge (Inflat Adi.1 Balance lifa Rdi oM 1988 1989 1990 1991 1992 1993 1994 1995 960 805 841 2.154 1,590 1,787 2290 1,721 0.00 74 343 218 413 304 67 3.221 960 1,839 3.023 5.395 7,401 9,493 11,849 16,791 1996 1,517 2Z672 20,980 1997 1,606 4.802 27.388 0

1998 1.702 5.289 34,380 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 1.422 1,506 1.595 1.690 1,790 1.896 2.008 2Z127 2.253 2.386 2.528 2.677 2,836 3.004 3.181 3.370 3.569 3.78O 4.004 4.241 4.492 4.758 5.040 5.338 5.654 5.989 6,344 6.719 7.117 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 12o1 2Z630 2940 3.280 3.653 4.062 4.510 5.000 5,536 6.122 6.763 7,462 8=227 9.061 9,971 10.963 12046 13.225 14,510 15.909 17,432 19.090 20.894 22,857 24.991 27.311 29,833 32.573 35,55W 38.784 38.670 36,099 32.819 28.198 22944 16&787 10.645 5.010 2Z365 6207 38,432 42878 47,754 53,097 58,949 65-354 72-362 80.025 88.400 97-548 107,538 118,442 130,339 143,313 157.458 172.873 189,667 207,957 227,870 249.543 273.126 298,778 326.675 357,004 389,969 425.791 464.708 506.977 552.878 544"164 507,978 461.820 396A05 322.861 236.229 149,795 70,499 33M278 27.379 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 47.384 72,285 78.976 93,214 96.887 103.420 97.079 84-306 39,585 7.84W 711357 960 1M839 3.023 5,395 7,401 9,493 11,849 16,791 20.980 27,388 34,380 38.432 42.878 47.754 53,097 58,949 65,354 72.362 80.025 811400 97.548 107.538 118.442 130.339 143,313 157.458 172.873 189.667 207.957 227,870 249,543 273.126 298.778 326.675 357,004 389,969 425,791 464,708 506.977 505,494 471.879 429,001 3611606 299.918 219,441 139.150 65.489 30,913.60 25.433.00 Omo 0.o 45,998 47,424 50=232 82736 87,634 92,822 93=533 99,070 104,935 111,147 117,727 124,696 132,078 139,897 148,179 156,951 166,243 176.084 186,506 197,550 209.245 221,632 234,753 248.650 263,370 278.962 295,476 312.968 331,496 351,121 371,907 393,924 417,244 441,945 468,108 495,820 525,173 556.263 541.810 501,599 452.318 385.881 311,839 226,880 143.232 67,406 31.811 25,848 0.00 4.00%

6.37%

10.74%

8.95%

10.M3 12.77%

17.95%

21.18%

26.10%

30.93%

32-65%

34-W%

36.16%

37.95%

39.78%

41.64%

43.53%

45.45%

47.40%

49.38-%

51.39%

53.44%

55.52Z 57.64%

59.79%

61.97%

64.19%

66.45%

68.74%

71.07%

73.44%

75.85&

78.29%

80.78%

83.31%

85A88 88.49%

91.14%

93-30%

94.07%

94.85%

95.52%

96.18%

96.72%

97.15%

97.16%

97.18%

98.39%

100 00 A

C 7

U A

L F

0 R

E C

A S

T j--

FUNDING FLOOR ANALYSIS FOR UNIT 3 ($000'S)

ESTIMATED FUNDING Mirnnum Mirnimum Minimum alnd Percentaae AMT Funding Floor 80.00%

8.74%

4,166 80.00%

7.15%

5,918 80.00%

8.67%

7,598 80.00%

10.21%

9,479 80.00%

11.78%

11,018 80.00%

13.37%

13,248 80.00%

14.99%

15,731 80.00%

16.64%

18,491 80.00%

18.31%

80.00%

20.01%

80.00%

21.73%

80.00%

23.49%

80.00%

2527%

80.00%

27.09%

80.00%

28.93%

80.00%

30.80%

80.00%

32.71%

81.00%

35.07%

82.00%

37.52%

83.00%

40.05%

84.00%

42.67%

85.00%

45.37%

86.00%

48.16%

87.00%

51.04%

88.00%

54.01%

89.00%

57.07%

90.00%

60.23%

91.00%

63.49%

92.00%

66.84%

93.00%

70.30%

94.00%

73.86%

95.00%

77.53n 96.00%

81.31%

97.00%

85.18%

98.00%

87.46%

99.00%

89.80%

100.00%

9214%

100.00%

93.60%

100.00%

94.87%

100.00%

95.73%

100.00%

96.46%

100.00%

97.18%

100.00%

97.79%

100.00%

98.40%

100.00%

21,554 24,949 28,707 32862 37,451 42514 48,094 54,239 61,000 69,288 78,513 88,770 100,163 112,809 126,832 142,371 159,575 178,610 199,657 222,912 248,590 276,929 308,185 342639 380,600 422,320 459,314 499,497 499,234 469,509 429,124 369,402 300,814 220,474 140,066 66,328 31,811 25,848 0.00 0*

Percentage SAMT Siife Actual Funded 11.32%

5,395 YES 8.95%

7,401 YES 10.83%

9,493 YES 12.77%

11,849 YES 17.95%

16,791 YES 21.18%

20,980 YES 26.10%

27,388 YES 30.93%

34.30 YES Ending Fund Year Year 1991 1992 1993 1994 1995 1996 1997 1998 0

5,408 7,398 9,498 11,849 14,477 20,980 27,388 34,380 38,432 42.878 47,754 53,097 58,949 65,354 72362 80.025 88,400 97,548 107,538 118,442 130,339 143,313 157,458 172.873 189,667 207.957 227,870 249,543 273 126 298.778 326,675 357.004 389.969 425,791 464,708 506.977 505,494 471,879 429,001 368,606 299,918 219,441 139,150 65,489 30,914 25,433 0.00 47,646 82,736 87,634 92822 93-533 99,070 104,935 111,147 117,727 124,696 132.078 139,897 148,179 156,951 166,243 176,084 186,508 197,550 209,245 221,632 234,753 248,650 263,370 278,962 295,476 312,968 331,496 351,121 371,907 393,924 417,244 441,945 468,108 495,820 525,173 556,263 541.810 501,599 452318 385,881 311,839 226,880 143,232 67,406 31,811 25,848 0.00 10.93%

8.94%

10.84%

1277%

15.48%

21.18%

26.10%

30.93%

3265%

34.39%

36.16%

37.95%

39.78%

41.64%

43.53%

45.45%

47.40%

49.38%

51.39%

53.44%

55.52%

57.64%

59.79%

61.97%

64.19%

66.45%

68.74%

71.07%

73.44%

75.85%

78.29%

80.78%

83.31%

85.88%

88.49%

91.14%

93.30%

94.07%

95.85%

96.52%

100.00%

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037

oeeso 0

M)POOWU~oe oulr...

SI peqnboij'r

Appendix B, Tab 3 Palo Verde Nuclear Generating Station Units 1, 2, & 3 EPE 1998 Annual Funding Status Report Section 2.1.7 [Restated]

Summary of Model Assumptions:

Assumed Rate of Earnings 7.3310%

Assumed Rate of Cost Escalation 5.2925%

Assumed Rate of Inflation 3.9031%

Treatment of Water Reclamation Facility Included Contingency Factor 25.0000%

5075_.Resc_1999.xls PJH 3124M99

Part 3. Tables and Curves 3.1 Table of Estimated Deposits, Income And Committed Accumulations to End of Funding Period for Each Unit:

(Curves presented are those most recently approved by the Termination Funding Committee) 3.1.1 Table For Unit I (In Thousands):

Estimated Deposits 1,274.596 1,284.594 1,335.472 1,388.364 1,443.352 1,500.517 1,559.947 1,621.730 1,685.960 1,752.734 1,822.153 1,971.475 2,049.557 2,130.732 2,321.329 2,413.268 2,508.848 2,758.042 2,867.277 Estimated Income 266.134 327.887 499.183 638.884 793.156 963.255 1,150.542 1,356.483 1,582.665 1,830.800 2,102.737 2,402.600 2,734.343 3,097.052 3,496.227 3,937.120 4,418.261 4,947.099 5,530.699 Estimated Accumulation 3,065.044 4,605.774 6,135.622 7,970.276 9,997.525 12,234.033 14,697.806 17,408.294 20,386.507 23,655.133 27,238.667 31,163.557 35,537.632 40,321.532 45,549.315 51,366.871 57,717.259 64,644.367 72,349.508 80,747.484 Estimated Costs 43,696.922 72,015.436 73,556.865 77,449.852 81,548.874 85,864.837 90,409.222 95,194.117 100,232.252 105,537.030 111,122.563 117,003.709 123,196.114 129,716.251 136,581.465 143,810.020 151,421.146 159,435.089 167,873.168 176,757.832 Percent Funded 7.01%

6.40%

8.34%

10.29%

12.26%

14.25%

16.26%

18.29%

20.34%

22.41%

24.51%

.26.63%

28.85%

31.08%

33.35%

35.72%

38.12%

40.55%

43.10%

45.68%

Funding Floor 5.61%

5.12%

6.67%

8.23%

9.81%

11.40%

13.01%

14.63%

16.27%

17.93%

19.61%

21.31%

23.08%

24.87%

27.01%

29.29%

31.64%

34.06%

36.63%

39.29%

23 EL PASO ELECTRIC COMPANY Annual Funding Status Report For the Year Ended December 31, 1998 Year 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

3.1.1 Table For Unit I (In Thousands) - continued:

Year 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 Estimated Deposits 2,980.838 3,317.760 3,449.163 3,585.771 4,065.222 4,226.229 4,393.613 5,138.776 5,342.302 5,553.889 6,957.220 7,232.768 7,519.229 7,817.036 Estimated Income 6,166.623 6,865.187 7,636.102 8,475.150 9,397.178 10,416.018 11,523.935 12,743.895 14,096.977 15,567.572 17,197.815 19,025.510 21,011.985 23,106.171 25,087.342 25,233.305 21,501.537 17,190.449 12,240.609 6,587.274 2,415.824 Estimated Accumulation 89,894.946 100,077.893 111,163.158 123,224.079 136,686.478 151,328.725 167,246.272 185,128.943 204, 568.222 225,689.683 249,844.719 276,102.996 304,634.210 334,709.788 358,030.257 360,113.346 306,855.984 245,330.930 174,690.029 94,009.301 34,477.067 Estimated Costs 186,112.716 195,962.705 206,334.004 217,254.202 228,752.350 240,859.036 253,606.467 267,028.554 281,161.003 296,041.410 311,709.360 328,206.534 345,576.819 362,973.935 380,323.895 376,077.046 317,265.368 251,175.083 177,200.486 94,692.148 34,477.067 Percent Funded 48.30%

51.07%

53.88%

56.72%

59.75%

62.83%

65.95%

69.33%

72.76%

76.24%

80.15%

84.12%

88.15%

92.21%

94.14%

95.76%

96.72%

97.67%

98.58%

99.28%

100.00%

Funding Floor 42.02%

44.94%

47.95%

51.05%

54.38%

57.80%

61.33%

65.17%

69.12%

73.19%

77.75%

82.44%

87.27%

92.21%

94.14%

95.76%

96.72%

97.67%

98.58%

99.28%

100.00%

24 EL PASO ELECTRIC COMPANY Annual Funding Status Report For the Year Ended December 31, 1998

3.2 Percent Funded Curve and Funding Floor Curve for Each Unit:

3.2.1 Unit 1 Curve:

100%

90%

80%

Committed 70%

Accumulation 50%

Actual 0% Accumulation 30%

20%

u/

10%

1991 1994 1997 2000 2003 2006 2009 2012 2015 2018 2021 2024 2027 2030 2033 29 EL PASO ELECTRIC COMPANY Annual Funding Status Report For the Year Ended December 31, 1998

3.1.2 Table for Unit 2 (In Thousands):

Year 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Estimated Deposits 1,148.211 1,156.671 1,202.482 1,250.107 1,299.619 1,351.092 1,404.603 1,460.234 1,518.068 1,578.192 1,640.698 1,767.574 1,837.581 1,910.360 2,070.670 2,152.681 2,237.940 2,444.911 2,541.744 2,642.412 2,917.665 3,033.222 3,153.356 Estimated Income 304.386 403.387 522.202 653.472 798.274 957.772 1,133.222 1,325.984 1,537.522 1,769.421 2,023.390 2,302.983 2,611.632 2,948.891 3,319.462 3,727.873 4,173.328 4,662.132 5,200.322 5,786.468 6,429.184 7,136.661 7,906.280 Estimated Accumulation 3,619.007 5,071.604 6,489.839 8,214.523 10,118.102 12,215.996 14,524.859 17,062.684 19,848.902 22,904.492 26,252.106 29,916.194 33,986.751 38,435.964 43,295.215 48,685.347 54,565.901 60,977.170 68,084.212 75,826.278 84,255.157 93,602.006 103,771.890 114,831.526 Estimated Costs 43,321.662 70,884.836 72,375.311 76,205.765 80,238.944 84,485.579 88,956.966 93,665.001 98,622.208 103,841.775 109,337.586 115,124.263 121,217.198 127,632.602 134,387.539 141,499.981 148,988.848 156,874.061 165,176.599 173,918.548 183,123.162 192,814.930 203,019.633 213,764.419 Percent Funded 8.35%

7.15%

8.97%

10.78%

12.61%

14.46%

16.33%

18.22%

20.13%

22.06%

24.01%

25.99%

28.04%

30.11%

32.22%

34.41%

36.62%

38.87%

41.22%

43.60%

46.01%

48.54%

51.11%

53.72%

Funding Floor 6.68%

5.72%

7.17%

8.62%

10.09%

11.57%

13.06%

14.57%

16.10%

17.65%

19.21%

20.79%

22.43%

24.09%

25.77%

27.87%

30.03%

32.26%

34.62%

37.06%

39.57%

42.23%

44.98%.

47.81%

25 EL PASO ELECTRIC COMPANY Annual Funding Status Report For the Year Ended December 31, 1998

3.1.2 Table for Unit 2 (In Thousands) - continued:

Year 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 Estimated Deposits 3,535.811 3,675.850 3,821.436 4,392.538 4,566.509 4,747.370 5,730.719 5,957.690 6,193.650 8,791.549 9,139.748 Estimated Income 8,750.184 9,679.802 10,690.173 11,799.390 13,024.259 14,354.720 15,821.210 17,451.419 19,221.815 21,208.585 23,478.715 25,671.399 27,381.115 27,376.844 23,348.142 18,467.306 12,867.270 6,475.243 2,359.251 Estimated Accumulation 127,117.521 140,473.173 154,984.782 171,176.710 188,767.478 207,869.568 229,421.497 252,830.607 278,246.072 308,246.207 340,864.670 366,365.540 390,765.507 390,704.542 333,209.534 263,553.410 183,633.329 92,410.462 33,669.696 Estimated Costs 225,077.871 236,990.086 249,532.753 262,739.239 276,644.676 291,286.057 306,702.331 322,934.509 340,025.772 358,021.589 376,969.831 396,741.353 414,599.909 407,652.600 344,105.794 269,530.194 186,096.933 93,077.319 33,669.696 Percent Funded 56.48%

59.27%

62.11%

65.15%

68.23%

71.36%

74.80%

78.29%

81.83%

86.10%

90.42%

92.34%

94.25%

95.84%

96.83%

97.78%

98.68%

99.28%

100.00%

Funding Floor 50.83%

53.94%

57.14%

60.59%

64.14%

67.79%

71.81%

75.94%

80.19%

85.24%

90.42%

92.34%

94.25%

95.84%

96.83%

97.78%

98.68%

99.28%

100.00%

26 EL PASO ELECTRIC COMPANY Annual Funding Status Report For the Year Ended December 31, 1998

3.2.2 Unit 2 Curve:

100%

90%

80%

70%

60%

50%

40%

30%

20%

10%

0%

1991 1994 1997 2000 2003 2006 2009 2012 2015 2018 2021 2024 2027 2030 30 EL PASO ELECTRIC COMPANY Annual Funding Status Report For the Year Ended December 31, 1998

3.1.3 Table for Unit 3 (In Thousands):

Year 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Estimated Deposits 1,282.171 1,294.243 1,345.503 1,398.793 1,454.194 1,511.789 1,571.665 1,633.912 1,698.625 1,765.900 1,835.841 1,968.776 2,046.751 2,127.815 2,293.851 2,384.702 2,479.150 2,690.503 2,797.064 2,907.844 3,183.853 3,309.953 3,441.047 Estimated Income 84.542 183.753 296.535 421.734 560.441 713.834 883.188 1,069.880 1,275.398 1,501.348 1,749.467 2,023.290 2,326.245 2,657.989 3,023.184 3,426.332 3,866.802 4,350.805 4,884.311 5,466.162 6,104.764 6,808.145 7,574.165 Estimated Accumulation 652.302 2,019.015 3,442.544 5,084.582 6,905.110 8,919.745 11,145.367 13,600.220 16,304.012 19,278.034 22,545.282 26,130.589 30,122.655 34,495.652 39,281.456 44,598.491 50,409.524 56,755.476 63,796.785 71,478.159 79,852.165 89,140.783 99,258.881 110,274.093 Estimated Costs 46,068.418 74,741.789 76,440.553 80,486.159 84,745.877 89,231.041 93,953.581 98,926.061 104,161.709 109,674.453 115,478.958 121,590.666 128,025.835 134,801.584 141,935.939 149,447.879 157,357.387 165,685.505 174,454.387 183,687.361 193,408.989 203,645.132 214,423.023 225,771.331 Percent Funded 1.42%

2.70%

4.50%

6.32%

8.15%

10.00%

11.86%

13.75%

15.65%

17.58%

19.52%

21.49%

23.53%

25.59%

27.68%

29.84%

32.04%

34.25%

36.57%

38.91%

41.29%

43.77%

46.29%

48.84%

27 EL PASO ELECTRIC COMPANY Annual Funding Status Report For the Year Ended December 31, 1998 Funding Floor 1.13%

2.16%

3.60%

5.05%

6.52%

8.00%

9.49%

11.00%

12.52%

14.06%

15.62%

17.19%

18.82%

20.47%

22.14%

23.87%

25.63%

27.75%

29.99%

32.30%

34.68%

37.21%

39.81%

42.49%

3.1.3 Table for Unit 3 (In Thousands) - continued:

Year 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 Estimated Deposits 3,814.940 3,966.035 4,123.113 4,659.502 4,844.046 5,035.900 5,889.479 6,122.738 6,365.235 8,106.273 8,427.330 8,761.103 2,243.965 Estimated Income 8,414.484 9,340.145 10,347.106 11,452.246 12,671.365 13,996.451 15,454.105 17,068.788 18,822.970 20,768.965 22,953.584 25,327.357 27,779.761 29,734.433 31,725.894 32,272.786 28,835.010 23,533.147 17,436.197 10,463.311 4,310.701 Estimated Accumulation 122,503.517 135,809.697 150,279.916 166,391.665 183,907.075 202,939.426 224,283.010 247,474.536 272,662.741 301,537.978 332,918.891 367,007.351 397,031.077 424,350.531 452,771.373 460,576.256 411,514.545 335,849.805 248,838.081 149,325.578 61,519.522 Estimated Costs 237,720.247 250,301.558 263,548.733 277,497.013 292,183.503 307,647.274 323,929.463 341,073.385 359,124.646 378,131.267 398,143.812 419,215.517 441,402.440 462,220.811 483,203.810 483,014.441 426,558.518 344,686.147 252,952.800 150,544.024 61,519.522 Percent Funded 51.53%

54.26%

57.02%

59.96%

62.94%

65.96%

69.24%

72.56%

75.92%

79.74%

83.62%

87.55%

89.95%

91.81%

93.70%

95.35%

96.47%

97.44%

98.37%

99.19%

100.00%

28 EL PASO ELECTRIC COMPANY Annual Funding Status Report For the Year Ended December 31, 1998 Funding Floor 45.35%

48.29%

51.32%

54.57%

57.91%

61.35%

65.08%

68.93%

72.89%

77.35%

81.95%

86.67%

89.95%

91.81%

93.70%

95.35%

96.47%

97.44%

98.37%

99.19%

100.00%

3.2.3 Unit 3 Curve:

100%

90%

80%

70%

60%

50%

40%

30%

20%

10%

0% r 1991 1994 1997 2000 2003 2006 2009 2012 2015 2018 2021 2024 2027 2030 2033 31 EL PASO ELECTRIC COMPANY Annual Funding Status Report For the Year Ended December 31, 1998

Appendix B, Tab 4 Palo Verde Nuclear Generating Station Units 1, 2, & 3 SCE 1998 Annual Funding Status Report Section 2.1.7 [Restated]

Assumptions Used in Developing Committed Accumulations:

Cost Study:

1995 TLG study, including all Table 1.1 costs (all non-unit specific costs are allocated equally among all three units)

Contingency Factors:

1995 TLG Study Annual Escalation Assumption:

Approximately 7.3% over the funding period.

Rate of Return Assumption:

5.25% per year (after tax) 5075_ReporI_1999.xds PJH M24/99

SOUTHERN CALIFORNIA EDISON COMPANY 1998 PALO VERDE UNIT I RJNDING STATUS (S THOUSANDS) 0 (1)

(2)

(3)

FUNDING PLAN

)TYAR FUND S ES OT

%FNE 1991 25A99 44,219 58%

1992 32,402 69.860 46%

1993 38,797 74,905 52%

1994 45,527 80,314 57%

1996 54.963 86,114 64%

1996 64,895 92,333 70%

1997 75,348 99,000 76%

1998 86,350 106.150.

81%

1999 97,930 113,815 86%

2000 110,118 122.034 90%

2001 12,945 130,847 94%

2002 136,446 140,296 97%

2003 150,656 150,427 100%

2004 165,611 161,290 103%

2005 181,352 172,937 105%

2006 197,919 185.426 107%

2007 215,356 198,816 108%

2008 233.709 213,174 110%

2009 253.025 228.568 111%

2010 273,356 245,074 112%

2011 294.752 262.772 112%

2012 317.273 281,747 113%

2013 340,976 302.094 113%

2014 365.923 323,909 113%

2015 392.180 347,300 113%

2016 419.816 372.380 113%

2017 448,903 399.271 112%

2018 479,516 428,104 112%

2019 511.737 459,019 111%

2020 545,650 492-167 111%

2021 581,343 527.709 110%

2022 618,909 565,817 109%

2023 658A448 606,677 109%

2024 700,063 650.487 108%

2025 696,219 656,864 106%

2026 594,779 566,305 105%

2027 477,988 459.182 104%

2028 344.308 333,566 103%

2029 192.070 187,340 103%

2030 69.900 68,615 102%

2031 0

0 100%

2032 2033 2034 2035 (4)

(5)

(6)

(7)

(8)

(9)

FUNDING FLOOR CURVE ACTUAL FUNDING CRTRIAm PECN sAMuNr FUND S ESCS

%FNE 80%

46%

20,399 27,001 44.219 61%

$D%

37%

25,922 33,787 69,860 48%

80%

41%

31.038 41.611 74,906 56%

80%

45%

36A422 45,930 80.314 57%

80%

51%

36.351 64,177 71,191 90%

80%

56%

42746 79,273 76,331 104%

8%

61%

49.760 99,810 81,842 122%

80e 65%

56.862 122-110 87,751 139%

80%

69%

80%

72%

80%

75%

80%

78%

80%

8O%

82%

81%

85%

82%

88%

83%

90%

84%

92%

85%

94%

86%

96%

87%

98%

88%

99%

89%

100%

90%

102%

91%

103%

92%

104%

93%

105%

94%

105%

96%

106%

96%

106%

97%

107%

98%

107%

99%

107%

100%

108%

100%

106%

100%

105%

100%

104%

100%

103%

100%

103%

100%

102%

100%

Southern California Edison Company Palo Verde Unit 1 Funding Plan 150%

125%

100%

75%

50%

25%

0%

Ml U) r-.

T M,

01 Nm 4-Actual z Accumulation AMOUNT PERCENT COMMITTED

$ 71,078 81%

Funding ACTUAL.-

$122,110 139%

ForFLOOR

$ 56,862 65%

Committed Accumulations 1

0) 0)

CD, 0)

LO 0,

0)

I--

0)

'I-

0)

T 0h 0

0) 0 04 C)

0 0 N UO 0 0 CM I

N 0 N

0) 1

0 N

SOUTHERN CALIFORNIA EDISON COMPANY 1998 PALO VERDE UNIT 2 FUNDING STATUS (S THOUSANDS)

(1)

(2)

(3)

FUNDING PLAN

)T FUND S ESCS

%FNE 1991 24.496 43,826 56%

1992 31,537 68,737 46%

1993 38,092 74,906 51%

1994 44,991 80,314 56%

1995 54,543 86.114 63%

1996 64,597 92,333 70%

1997 75.179 99,000 76%

1998 86.317 106,150 81%

1999 98,039 113,815 86%

2000 110,376 122.034 90%

2001 123,362 130.847 94%

2002 137,029 140,296 98%

2003 151.413 150,427 101%

2004 166,553 161.290 103%

2005 182487 172937 106%

2006 199.259 185A426 107%

2007 216,910 198,816 109%

2008 235.488 213.174 110%

2009 255.042 228,568 112%

2010 275,622 245,074 112%

2011 297,283 262.772 113%

2012 320.081 281,747.

114%

2013 344.076 302.094 114%

2014 369,330 323,909 114%

2015 395.910 347.300 114%

2016 423,886 372380 114%

2017 453,331 399,271 114%

2018 484,321 428,104 113%

2019 516,939 459,019 113%

2020 551,268 492.167 112%

2021 587,400 527,709 111%

2022 625,430 565,817 111%

2023 665,455 606,677 110%

2024 707,582 650A487 109%

2025 751,921 695,716 108%

2026 790,166 742,858 106%

2027 776,927 739,787 106%

2028 657,874 631,382 104%

2029 520,952 503,822 103%

2030 364,378 354,929 103%

2031 186,212 182.311 102%

2032 62940 61,939 102%

2033 0

0 100%

2D34 2035 (4)

(5)

(6)

(7)

(8)

(9)

FUNDING FLOOR CURVE ACTUAL FUNDING CIEI PECN s AMUNT FUND S EST COST 80%

45%

19,597 25,943 43.826 59%

80%

37%

25,230 32,869 68,737 48%

80%

41%

30,474 40,791 74.905 54%

80%

45%

35,993 45,358 80,314 56%

80%

51%

37A442 63.426 73,893 86%

80%

56%

44,368 78,392 79,228 99%

80%

61%

51,648 98,759 84,948 116%

80%

65%

59,021 120,878 91,082 133%

80%

69%

80%

72%

80%

75%

80%

78%

80%

81%

80%

83%

80%

84%

81%

87%

82%

89%

83%

92%

84%

94%

85%

96%

86%

97%

87%

99%

88%

I00%

89%

101%

90%

103%

91%

104%

92%

104%

93%

106%

94%

106%

95%

106%

96%

107%

97%

107%

98%

107%

99%

108%

100%

108%

100%

106%

100%

105%

100%

104%

100%

103%

100%

103%

100%

102%

100%

102%

100%

Southern California Edison Company Palo Verde Unit 2 Funding Plan 140%

120%

100%

80%

60%

40%

20%

0%

0)

O*

0)

Cb "r-,

0)l O*

Ip-U, 0) 0 04 0M 04 ov o0 o~

0)

U, 0)

I--

Actual Accumulation

1998 FUNDING STATUS Funding AMOUNT PERCENT Floor COMMI-ED

$ 73,776 Committed 81%

Accumulations ACTUAL

$120,878 133%

FLOOR

$ 59,021 65%

i~

i i

i 0

cm P

SOUTHERN CAIJFORNIA EDISON COMPANY 1998 PALO VERDE UNIT 3 JNING STA1US (S THOUSANDS)

(1)

(2)

(3)

FUNDING PLAN M

FUND S ESCS

%PNE 1991 26,087 48,798 53%

1992 34.110 73.450 46%

1993 41.562 74.905 55%

1994 49.405 80,314 62%

1995 59,673 86,114 69%

1996 70,480 92n333 76%

1997 81.854 99.000 83%

1998 93,826 106,150 88%

1999 106.426 113.815 94%

2000 119.688 122.034 98%

2001 133,646 130,847 102%

2002 148.336 140,296 106%

2003 163.798 150.427 109%

2004 180,072 161.290 112%

2005 197,200 172937 114%

2006 215.227 185.426 116%

2007 234.201 198.816 118%

2008 254.171 213.174 119%

2009 275.189 228.568 120%

2010 297.311 245.074 121%

2011 320.594 262.772 122%

2012 345,099 281,747 122%

2013 370.891 302.094 123%

2014 398.037 323.909 123%

2015 426.609 347,300 123%

2016 456,680 372380 123%

2017 488,330 399.271 122%

2018 521.641 428,104 122%

2019 556.702 459.019 121%

2020 593.603 492.167 121%

2021 632.442 527.709 120%

2022 673,319 565,817 119%

2023 716,343 606,677 118%

2024 761,625 650.487 117%

2025 809,284 700,291 116%

2026 859.446" 753,907 114%

2027 912.241 811.628 112%

2028 960.134 873.769 110%

2029 951,127 881.253 108%

2030 845,825 793,489 107%

2031 700,015 664,025 106%

2032 532Z660 510.759 104%

2033 341.615 330.855 103%

2034 150.456 147.093 102%

2035 0

(0) 100%

(4)

(5)

(6)

(7)

(8)

(9)

FUNDING FLOOR CURVE ACTUAL FUNDING CIEI PECN S MON FUND S

EST, CO UN*

80%

43%

20,870 27,730 48.798 57%

80%

37%

27.288 35,578 73.450 48%

80%

44%

33.250 44A473 74.906 59%

80%

49%

39.524 49.825 80.314 62%

80%

55%

46,253 69A421 83,434 83%

80%

61%

54,390 85,640 89,458 96%

80%

66%

58.318 107.775 95.917 112%

80%

71%

72.401 131.789 102.842 128%

80%

75%

80%

78%

80%

82%

80%

85%

80%

87%

80%

89%

80%

91%

80%

93%

81%

95%

82%

98%

83%

100%

84%

102%

85%

104%

86%

105%

87%

107%

88%

108%

89%

109%

90%

110%

91%

111%

92%

112%

93%

113%

94%

113%

95%

114%

96%

114%

97%

115%

98%

115%

99%

114%

100%

114%

100l%

112%

100%

110%

100%

108%

100%

107%

100%

105%

100%

104%

10*%

103%

100%

102%

100%

uthern California Edison Company Palo Verde Unit 3 Funding Plan 140%

120%

100%

80%

60%

40%

20%

0%

Cl,

0)

0) 1

LO

0) 0)

0)

0) 1

cm~

IL, 0

0 ('A 0

0 C'J cm 0

cmJ (MJ 2!

0 c'J So Actual

/

Accumulation 1998 FUNDING STATUS X'.0$

AMOUNT PERCENT Funding Floor COMMITTED

$ 90,501 88%

Committed ACTUAL

$131,789 128%

Accumulations FLOOR

$ 72,401 71%

r I

I w

i i

I i

i i

ii i

I i

i w

I i

1 i i

T o)

CM R

Appendix B, Tab 5 Palo Verde Nuclear Generating Station Units 1, 2, & 3 PNM 1998 Annual Funding Status Report Section 2.1.7 (Restated]

Summary of Major Assumptions Portfolio Yield Mortality Policy Loan Interest Rate Inflation Rate Side Fund Interest Rate Composite Tax Rate Cost Study Water Reclamation Facility Water Treatment and Ponds Reservoir ISFSI 9.50%

1983 Group Annuity Mortality 8.50%

5.00%

5% After Tax 39.59%

1995 TLG Included Included Included Included S075.Report._1999.1$

PJH 3M24M99

Part 3.1 Accumulation and Funding Schedule As of December 31. 1998 PVNGS Units 1,2,3

($O0)

Mellon Mellon NQ Invested After Tax Fixed Mellon qual Qualified After Mellon NQ After Tax Total Fund Qualified Earnings PUC2004 Total Total Fund Funding Deficit SInome Bev Balance Tax earlmwn Re ihnnine Ba lunil EUW=

Balaneo Ouas Can rib u

Balan=e Qh*fa Codbntn 1998 13,410 16.472 1,252 7.096 404 25,224 38,634 1999 14,248 16,472 1,252 7,096 404 25,224 39,472 3.075 117 3,192 42.664 38.271 2000 15.132 20,916 1,590 7,500 428 30,433 45,565 3,075 117 3,192 48,757 44,890 2001 16,070 25,697 1.953 7.928 452 36,030 52.100 3,075 162 1,188 4.425 56,525 52.114 2002 18,372 29.657 2,254 9,568 545 42,024 60,397 3,075 162 1,188 4,425 64.822 59.990 2003 20,818 33,918 2,578 11.301 644 48.441 69,259 3,075 162 1,188 4,425 73.684 68,581 2004 23,415 38,503 2,926 13.133 749 55,311 78.726 3,075 162 1,188 4,425 83,151 77,897 2005 26,172 43,436 3,301 15,070 859 62.666 88,839 3.075 162 1,188 4,425 93,264 88,038 2006 29,101 48,744 3,705 17,117 976 70,541 99.643 3,075 162 1,188 4.425 104,068 99,047 2007 32,212 54.456 4.139 19,281 1,099 78,974 111,186 3,075 162 1,188 4,425 115,611 110,928 2008 35,515 60,601 4.606 21,568 1,229 88,004 123,520 3,075 162 1,188 4,425 127,945 123,750 2009 39,024 67,214 5,108 23,985 1,367 97.675 136.698 3,075 162 1.188 4,425 141,123 137,927 2010 42.749 74,329 5,649 26,540 1,513 108,031 150,781 3,075 162 1,188 4,425 155,206 152.977 2011 46,706 81,985 6,231 29,241 1,667 119.124 165,830 3.075 162 1,188 4,425 170.255 169,048 2012 50.908 90,223 6,857 32.096 1,829 131.005 181,914 3.075 162 1,188 4,425 186,339 187,007 668 2013 55.371 99.087 7,531 35,782 2,040 144,439 199.810 3.075 162 1,188 4,425 204,235 206,258 2.023 2014 60,110 108,625 8,255 41.033 2,339 160.252 220,362 3.075 162 1.188 4,425 224,787 226,867 2,080 2015 65,143 118,887 9,035 46,640 2,658 177,221 242.364 3,075 162 1,188 4,425 246,789 248,929 2,140 2016 70,488 129,930 9.875 52,626 3,000 195.430 265,918 3,075 162 1,188 4,425 270.343 272,508 2.165 2017 76,165 141,811 10,778 58,979 3,362 214.929 291.094 3,075 162 1,188 4.425 295,519 298,829 3,310 2018 82,193 154,596 11,749 66,838 3.810 236.993 319,187 3,075 162 1.188 4.425 323,612 326,933 3.321 2019 88,595 168.352 12,795 75,158 4,284 260,589 349,184 3,075 162 1,188 4,425 353,609 356.895 3,286 2020 95.394 183.154 13,920 83,916 4.783 285,773 381.167 3,075 162 1.188 4,425 385,592 3U8,836 3.244 2021 102.615 199.081 15,130 93.131 5.308 312.650 415.265 3,075 162 1,188 4.425 419,690 422.886 3.196 2022 110,284 216.218 16,433 102,823 5,861 341,334 451,618 3,075 162 1,188 4,425 456,043 459,958 3,915 2023 118,427 234.658 17.834 113,787 6,486 372.764 491,192 3,075 162 1.188 4,425 495,617 499,367 3,750 2024 127,076 254.498 19,342 125,211 7,137 406.188 533.265 3,075 162 1,188 4,425 537,690 533.313 2025 136,261 275,847 20,964 133,536 7,612 437.959 574,221 3,075 162 1,188 4,425 578.646 565.885 2026 146,016 298.819 22,710 142,336 8,113 471,978 617.993 3.075 162 1,188 4,425 622,418 595,895 2027 156,375 323.536 24,589 151,637 8,643 508,405 664,780 3,075 162 1.188 4,425 669,205 586,098 Total Contribution 154.350 PV of Contributinons 51,366 Equivalent Annual Contriution 4.689 Equivalent Annual Per Unit 1.563 NOTCOl*M1Rm'.h Pagc 12

PUBLIC SERVICE COMPANY OF NEW MEXICO PALO VERDE UNIT I (sooo)

Funding Plan Year Fund $

Est. Costs

% Funded 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1,095 3,450 5,981 6,807 7,018 8,107 9,212 10.449 12,117 14,213 16,500 18,993 21,715 24,662 27,871 31,356 35,119 39,180 43,669 48,432 53,522 59,211 65,302 71,830 78,812 86,273 94,607 103,502 112,990 123,106 133,886 145,625 158,509 164,770 175,793 28,746 45,099 47,354 49,722 45,959 48,257 50,670 53,203 55,863 58,657 61,589 64,669 67,902 71,297 74,862 78,605 82,536 86,663 90.996 95,545 100,323 105,339 110,606 116,136 121,943 128,040 134,442 141,164 148,222 155,633 163,415 171,586 180,165 180,530 190,005 3.81%

7.65%

12.63%

13.69%

15.27%

16.80%

18.18%

19.64%

21.69%

24.23%

26.790/o 29.37%

31.98%

34.59o/9 37.23%

39.89%

42.55%

45.21%

47.990/9 50.69%

53.35%

56.21%

59.04%

61.85%

64.63%

67.38%

70.37%

73.32%

76.23%

79.100/6 81.93%

84.87%

87.98%

91.27%

92.52%

Funding Floor Curve Criteria Percent 80%/0 80%

800%

80%

800/0 80%

80%

80%/0 800%

80%

81%

82%

83%

84%

85%

86%

87%

88%

89%

90%

91%

92%

93%

94%

95%

96%

97%

98%

99%

100%

3.05%

6.12%

10.100/O 10.95%

12.22%

13.44%

14.54%

15.71%

17.35%

19.38%

21.43%

23.50%

25.58%

27.67%

29.78%

32.31%

34.89%

37.52%

40.31%

43.09%

45.88%

48.90%

51.96%

55.05%

58.17%

61.32%

64.74%

68.19%

71.66%

75.15%

78.65%

82.32%

86.22%

90.36%

92.52%

S Amount 876 2,760 4,785 5,446 5,614 6,486 7,369 8,359 9,693 11,370 13,200 15.195 17,372 19,729 22,297 25,398 28,798 32,520 36,682 41,167 46,029 51,514 57,465 63,929 70,931 78,509 87,038 96,256 106,211 116,951 128,531 141,256 155,339 163,122 175,793 Actual Funding Fund S Est. Cost

% Funded 1,096 2,334 3,691 4.117 4,235 8,094 9,999 14,095 28,746 45,099 47,354 49,722 45,959 48,257 50,670 53,203 3.81%

5.18%

7.79%

8.28%

9.21%

16.77%

19.73%

26.49%

Page 13

Public Service Company Of New Mexico Palo Verde Unit I 120.00%

600 00 j",P' e r 10.00%

Page 14

PUBLIC SERVICE COMPANY OF NEW MEXICO PALO VERDE UNIT 2 (SOoo)

Funding Plan Year Fund S Est. Costs

% Funded 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1,096 3,426 5,936 6,756 7,346 8,485 9,645 10,940 12,687 14,880 17,273 19,882 22,729 25,820 29,178 32,831 36,769 41,018 45,713 50,706 56,032 61,983 68,365 75,195 82,511 90,331 99,048 108,367 118,293 128,876 140,171 152,451 165,328 178,739 189,264 28,499 44,375 46,594 48,923 47,703 50,088 52,593 55,222 57,983 60,882 63,927 67,123 70,479 74,003 77,703 81,588 85,668 89,951 94,449 99,171 104,130 109,336 114,803 120,543 126,570 132,899 139,544 146,521 153,847 161,539 169,616 178,097 187,002 196,352 206,170 3.85%

7.72%

12.74%

13.81%

15.40%

16.94%

18.34%

19.81%

21.88%

24.44%

27.02%

29.62%

32.25%

34.89%

37.55%

40.24%

42.92%

45.601/6 48.40%

51.13%

53.811%

56.69%

59.55%

62.38%

65.19%

67.97%

70.98%

73.96%

76.89%

79.78%

82.64%

85.601/6 88.41%

91.03%

91.80%

Funding Floor Curve Criteria Percent

$ Amount 800/0 800/0 80%/

80%

800/0 80%

800%

800/0 80%

80%

800/0 800/0 800/0 81%

82%

83%

84%

85%

86%

87%

88%

89%

900/0 91%

92%

93%

94%

95%

96%

97%

98%

990/%

100%

3.08%

6.18%

10.190/0 11.05%

12.32%

13.55%

14.67%

15.85%

17.50%

19.55%

21.62%

23.70%

25.800/a 27.91%

30.04%

32.59%

35.19%/9 37.85%

40.66%

43.46%

46.28%

49.32%

52.40%/a 55.52%

58.67%

61.85%

65.30%

68.78%

72.28%

75.79%/0 79.33%

83.03%

86.64%

90.12%

91.80%

877 2,741 4,749 5,405 5,877 6,788 7,716 8,752 10,149 11,904 13,818 15,905 18,184 20,656 23,342 26,593 30,150 34,045 38,399 43,100 48,188 53,925 60,161 66,923 74,260 82,201 91,124 100,781 111,195 122,432 134,564 147,878 162,022 176,952 189,264 Actual Funding Fund $

Est. Cost 1,096 2,334 3,691 4,117 4,235 8,479 10,368 14,528 28,499 44,375 46,594 48,923 47,703 50,088 52,593 55,222 Page 15

% Funded 3.85%

5.26%

7.92%

8.42%

8.88%

16.93%

19.71%

26.31%

91 328d It It lb"'

CpI3ý qýlb qp lb 00*0

%00'OZ

%00'017

%00'09

%00*09

%00*0U

%00'OU z munGPJGA OIL'd 00'xGW m9N jo Auewoo eolAieS oilqnd

PUBLIC SERVICE COMPANY OF NEW MEXICO PALO VERDE UNIT 3 (so$o)

Funding Plan Year Fund $

Est. Costs

% Funded 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1,097 3,403 5,895 6,712 7,799 9,009 10,238 11,616 13,467 15,797 18,341 21,115 24,137 27,416 30,989 34,860 39,040 43,552 48,545 53,839 59,494 65,814 72,592 79,842 87,607 95,904 105,174 115,065 125.612 136,854 148,830 161,882 175,529 189.804 200,829 30,306 46,867 49,211 51,671 53,863 56,556 59,384 62,353 65,471 68,744 72,182 75,791 79,580 83,559 87,737 92,124 96,730 101,567 106,645 111,977 117,576 123,455 129,628 136,109 142,915 150,060 157,563 165,441 173,714 182,399 191,519 201,095 211,150 221,707 232,791 3.62%

7.62%

11.98%

12.99%

14.48%

15.93%

17.24%

18.63%

20.57%

22.98%

25.41%

27.86%

30.33%

32.81%

35.32%

37.84%

40.36%

42.88%

45.52%

48.08%

50.60%

53.31%

56.00%

58.66%

61.30%

63.91%

66.75%

69.55%

72.31%

75.03%

77.71%

80.50%

83.13%

85.61%

86.27%

Funding Floor Curve Criteria Percent 80%

80%

80%/0 80%

80%

80%/0 80%

800%/

80%

80%/0 80%

81%

82%

83%

84%

85%

86%

87%

88%

89V/

90%

91%

92%

93%

94%

95%

96%

97%

98%

99%

100%4 2.90%

6.10%

9.58%

10.39%

.11.58%

12.74%

13.79%

14.90%

16.46%

18.38%

20.33%

22.29%

24.26%

26.25%

28.26%

30.65%

33.10%

35.59%

38.24%

40.87%

43.52%

46.38%

49.28%

52.21%

55.17%

58.16%

61.41%

64.68%

67.97%

71.28%

74.60%

78.09%

81.47%

84.75%

86.27%

S Amount 878 2,722 4,716 5,370 6,239 7,208 8,190 9,293 10,774 12,638 14,673 16,892 19,309 21,933 24,791 28.236 32,013 36,148 40,778 45,763 51,164 57,258 63,881 71,059 78,846 87,272 96,760 107,010 118,076 130,0I I 142,876 157,025 172,018 187,906 200.829 Actual Funding Fund $

Est. Cost

% Funded 1,097 2,335 3,692 4,117 4,235 9,007 10,228 11,689 30,306 46,867 49,211 51,671 53,863 56,556 59,384 62,353 3.62%

4.98%

7.50%

7.97%

7.86%

15.93%

17.22%

18.75%

Page 17

Public Service Company of New Mexico Palo Verde Unit 3 40mm0%nmditted unding Floor 40.00%,°* aii~**,*:*i:

2O0%

20.00%

tual Accumulations 0.00%

I 'jE*4.

-

I-A ri9 b

~

Nj r'V

'VýV Page 18 120.00%

100.00%

80.00%

I !i1~i*'!*i<*

Appendix B, Tab 6 Palo Verde Nuclear Generating Station Units 1, 2, & 3 SCPPA 1998 Annual Funding Status Report Section 2.1.7 [Restated]

Summary of Major Assumptions Escalation Factor Rate of Return Participation Ratio Funding Period Funding Level 6%

6.83%

5.91%

35 years for each unit Includes Water Reclamation Facility and 25% Contingency Factor 5075_ReorL199.xis PJH 3/24/99

SOUTHERN CALIFORNIA PUBLIC POWER AUTHORITY Palo Verde Project - Termination Cost Funding UNIT I IuU MuUM uuEL mM MUM 11m nw gum oi3nImUUON mE=

A=*ma Tzmmun ME=

DEC31, 1990 JUN 30, 1991 DEC 3 1, 1991 JUN 30, 1992 DEC 31, 1992 JUN 30, 1993 DEC 31, 1993 JUN 30, 1994 DEC 31, 1994 JUN30.

1995 DEC 31, 1995 JUN 30, 1996 DEC 31, 1996 JUN 30, 1997

DEC31, 1997

)UN 30, 1993 DEC 3, 1998 JUN 30, 1999

DEC31, 1999 JN 30, 2000 DEC 31, 2000 JUN 30, 2001 DEC 31, 2001 JUN 30, 2002 DEC 31, 2002 JU 30, 2003 DEC 31, 2003 JUN 30, 2004 DEC 31, 2004 JUN 30, 2005 DEC 31, 2005 JUN 30, 2006 DEC 31, 2006 JUN 30, 2007 DEC 3 1, 2007 JU 30, 2008 DEC 31, 2008 IUN 30, 2009 DEC 3 1, 2009 514.387,900

$0

$1,117,240 15,505,140 so 0

0 0

0 1,240,620 1,240,620 1,239,380 1.240.620 1^64160 32703M 1.240,620 285,434 235,434 285,434 285,434 285,434 285,434.

285,434 285,434 285,434 285,434 215,434 285,434 235,434 285,434 215,434 285,434 235,434 235,434 285.434 285,434 235,434 285,434 S14,237,604 5625,326 14,862,930 363,830 15,226,810

-29,039 15,197,771 563,954 15,761,625 791,974 16,553,599 264,949 7,103,347 229,682 7.333,029 16,871 7,349,900 486.265 7,836.165 302,793 9,379,530 244,149 10,8"4,349 440,971 12,544,700 670.975 14,456,295 206,445 16,316,900 587,713 17,731,693 657,875 19,630o188 670,371 20,585,993 703,012 21,574,440 736,767 22,596,641 771.675 23,653,751 807,776 24,746,961 94S,109 25.877.504 383,717 27,046,655 923,643 28,255,733 964,933 29,506,101 1,007,633 30,799,169 1,051,792 32,136,395 1,097,458 33,519,287 1,144,684 34,949,405 1,193,522 36,428,362 1,244,029 37,957,325 1.296,260 39,539,519 1,350,275 41,175,228 1,406,134 42,866,797 1,463,901 44,616,133 1,523,641 46,425,208 1,535,421 43,296,063 1,649,311 50,230,803 6

7 8

9 10 II 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 515,396,791 50

$1,440,621 16,837,412 0

0 0

0 1,280,640 1,280,640 1,279,360 1,76,640 1,703,520 353,760 1,276,640 295,723 295,723 295,723 295,723 295.723 29S,723 295,723 295,723 295,723 295,723 295,723 295,723 295,723 295,723 29S,723 295,723 295,723 295,723 295,723 295.723 295,723 295,723 443,094 15,948,234 147,301 16,095.535 623,452 16,718,987 711,934 17,430,921 593,006 7,962,403

-345,413 7,616,990 9,010 7,626,000 609,810 8,235.810 233,314 9,749,764 132,669 11,163,073 453,967 12,896,400 686,710 14,859,750 191,930 16,755,200 540,181 18,149,141 594,163 20,019,944 683,681 20,999,348 717,128 22,012,199 751,717 23,059,639 787,487 24,142,849 824.478 25,263,050 862,733 26,421,507 902,294 27,619,524 943,207 28,858,454 "915,516 30,139,694 1,029,271 31,464,638 1,074,519 32,834,930 1,121,313 34,251,966 1,169,705 35,717,394 1,219,749 37,232,866 1,271,502 38,800,091 1,325,023 40,420,838 1,380,372 42,096,933 1,437,610 43,830,266 1,496,804 45,622,793 1,558,018 47,476,534 1,621,324 49,393.581 1,686,791 51,376,095

TAL 544,022,295 50 S3,183,187 47,205,482 0

1,192,448 48,397,930 0

415,743 48,813.673 0

2,120,604 50,934,277 0

2,585,086 53,519,363 0

1,026.634 22.896,055 0

-269,287 22,626,768 0

13,432 22,640,200 0

1.674,177 24,314,377 4,002,000 797,955 29,114,332 4,002,000 357,367 33,473,699 3,998,000 1,306,601 38.778,300 3,993,000 2,039,799 44,816.099 5,332,000 540,501 50,688,600 2,668,000 1,854,09" 55,210,698 3,998000 1 845,926 61,054,6241 949,063 2,085,015 64,088,703 949,063 2,188,629 67,226,395 949,063 2,295,781 70,471,240 949,063 2,406,593 73,826,896 949,063 2,521,138 77,297,147 949,063 2,639,698 30,885,08 949,063 2,762,254 84,597,225.

949,063 2,88,.995 88,435,283 949,063 3,020,065 92,404,412 949,063 3,155,611 96,509.0835 949,063 3,295,7.5 100,753,934 949,063 3,440,747 105,143,744 949,063 3,590,659 109,683,466 949,063 3,745,690 114,378,220 949,063 3,906,016 119,233.299 949,063 4,071,817 124,254,179 949,063 4,243,280 129,446,523 949,063 4,420,.599 134,816,185 949,063 4,603,973 140,369,221 949,063 4,793,609 146,111,893 949,063 4,989,721 152,050,677 949,063 5,192,531 158,192,271 Page 10 UNIT 2 UNIT 3 GRAND TOTAL 0

0 0

0 1,480,740 1,430,740 1,479,260 1,490,740 1,974,320 987,160 1.480,740 367,906 367,906 367,906 367,906 367,906i 367.906 367,906 367,906 367,906 367,906 367,906 367,906 367,90 367,906 367,906 367,906 367,906 367,90 367,906 367.906 367,906 385,474 17,222,886 297,481 17,520,367 933,298 18,453,665 1,081,178 19,534,843 168,679 7,830,305

-153,556 7,676,749

-12,449 7,664,300 578.102 8,242,402 261,846 9,984,983

-19,451 11,446,277 411,603 13,337,200 682,114 15,500,054 142,126 17,616,500 726,204 19,329,364 593,888 21,404,492 730.963 22,503,361 768,490 23,639,756 807,298

.24,814,959 847,431 26,030,296 388,935 27,287,136 931,856 28,586,397 976,243 29,931,045 1,022,145 31,321.096 1,069,615 32,758,617 1,118,707 34,245,229 1,169.475 35,782,609 1,221,976 37,372,491 1,276,271 39,016,667 1,332,419 40,716,992 1,390,485 42.475,382 1,450,534 44,293,322 1,512,634 44,174,362 1,576,854 48,119,122 1,643,268 50,130,295 1,711,950 52,210,150 1,782,977 54,361,033 1,856,429 56,585,367

Palo Verde Project - Termination Cost Funding UNIT I 20l=

ALL&=

Z

-nMM 1m S

zam mazi u

urmmm Qrmur2M 47 295,723 48 295,723 49 295,723 5o 295,723 51 295,723' 52 295,723 53 295,723 54 295,723 55 295,723 56 295,723 57 295,723 50 295,723 59 295,723 60 295,723 61 295,723 62 295,723 63 295,723 64 295.723 65 295,723 66 295,723 67 295,723 68 295,723 69 295,723 70 295,723 1,754,494 1,324,509 1,896,914 1,971,793 2,049,229 2,129,309 2,212,124 2,297,767 2,386,334 2,477,927 2,572,647 2,670,602 2,771,902 2,876,661 2,984,998 3,097,034 3,212,897 3,332,717 3,456,623 3,534,771 3,717,289 3,354,334 3,996,058 4.142,623 53,426,312 55,546,544 57,739,182 60,006,698 62,351,650 64,776,682 67,234,529 69,373,019 72,560,076 75,333,726 78,202,096 81,168,421 84,236,045 87,401,429 90,689,152 94,081,908 97,590,529 101,213,963 104,971,319 108,351,813 112.864,826 217,014,883 121,306,664 125,745,010 45 46 47 48 49 so 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 367,906 367,906 367,906 367,906 367,906 367,906 367,906 367,906 367,906 367,906 367,906 367,906 367,906 367,906 367,906 367,906 367,906 367,906 367,906 367,906 367,906 367,906 367,906 367,906 367,906 367,906 1,932,390 2.010,945 2,092,183 2,176,195 2,263,076 2,352,924 2,445,341 2,541,930 2,641,301 2,744,065 2,850,339 2.960.242 3,073,898 3,191,436 3,312,938 3,438,690 3,568,685 3,703,120 3,342,145 3,935,919 4,134,602 4,288,362 4,447,374 4,611,816 4,781,873 4,957.733 58,385,663 61,264,514 63,724,603 66,268,703 68,899,685 71,620,515 74,434,261 77,344,097 3O,353,303 83,465,274 86,683,513 90,011,666 93,453,470 97,012,812 100,693.705 104,500,300 108,436,891 112,507,916 116,717,967 121,071.791 125,574,298 130,230,566 135,045,346 140,025,567 145,175,345

!50,00,989 949.063 949,063 949,063 949,063 949,063 949,063 949,063 949,063 949,063 949,063 949,063 949,063 949,063 949.063 949,063 949,063 949.063 949,063 949,063 949,063 949,063 949,063 "663,629 663,629 367.906 367,906 TOTA 5,402.266 164,543,600 5,619,164 171,111,827 5,843,469 177,904,359 6,075,434 124,928,356 6,315,320 192,193,240 6,.563,399 199,705,702 6,819,950 207.474,715 7,05,262 215,509,040 7,359*,634 223,317,737 7643,376 232.410.176 7,934,103 241,296,047 340,260 250,485,370 U.554.075 259,983,508 8,873,603 269,316,179 9,214,223 279,979,465 9,561,299 290,489,327 9,920,221 301.359,118 20,29,414 312.599,595 10,675,276 324.223,934 12,072,247 336,245,245 II,482,775 348,677,083 I 1,907,322 361,533,469 3,443,432 2M5,352,510 8,754,438 265,770.577 4,781,8"73 145,175,345 4,957,738 150,500,989 Page 11 UNM UNIT 3 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 JUN 30, 2010 DEC 31, 2010 JUN 30, 2011 DEC 31, 2011 JUN 30, 2012 DEC 31.

2012 JUN 30, 2013 DEC 31, 2013 JUN 30, 2014 DEC 31, 2014 JUN 30, 2015 DEC 31, 2015 JUN 30, 2016 DEC 31, 2016 JUN 30, 2017 DEC 31, 2017 JUN 30, 2018

DEC31, 2013 JUN 30, 2019 DEC 31, 2019 JUN 30, 2020 DEC 3 1, 2020 JUN 30, 2021 DEC 31, 2021 JUN 30, 2022 DEC 3 1, 2022 285,434 285,434 285,434 235,434 285,434 285,434 285,434 215,434 235,434 285,434 255,434 215,434 285,434 285,434 235,434 285,434 235,434 235,434 235,434 285,434 285.434 235,434 GRAND TOTAL 1,715,382 1,7383,710 1,854,371 1U927.446 2,003,015 2,081,166 2,161,985 2,245,565 2,331,991 2,421,334 2,513,322 2,609,416 2,703,275 2,10.511 2,916,237 3,025,574 3,138.645 3,255,577 3,376,503 3,501,553 3,630,834 3,764,626 52,231,625 54,300,769 56,440,575 58,653.455 60,941,905 63,303,506 65,755X926 63,236,925 70,904,353 73,611.176 76,410,432 79,305,283 82,292,993 85,394,939 88,596,610 91,907,619 95,331,693 938,72,710 102534,648 106,321,640 110,237,959 114,288,020

SCPPA PALO VERDE UNIT 1 FUNDING PLAN 100%

90%

80%

70%

60%

50%

40%

30%

20%

10%

0%

1994 1997 2000 2003 2006 2009 YEAR 2012 2015 2018 2021 2024 PAGE 12 a Lu 0

z 1,.

Iz ui w C.

A'T AL Ar A

'o 1098 FUNDING STATUS AMOUNTI PERCENT COMMITTED

$12,686,000 40%

ACTUAL

$19,630,000 62%

FLOOR

$10,149,000 32%

1991

SOUTHERN CALIFORNIA PUBLIC POWER AUTHORITY 1998 PALO VERDE UNIT - 1 FUNDING STATUS TERMINATION COST FUNDING (S THOUSAND)

(t)-(2x3)

(2)

(3)

AUTHORIZED FUNDING PLAN YEAR DEC 1991 DEC 1992 DEC 1993 DEC 1994 DEC 1995 DEC 1996 DEC 1997 rDEC 1998 DEC 1999 DEC 2000 DEC 2001 DEC 2002 DEC 2003 DEC 2004 DEC 2005 DEC 2006 DEC 2007 DEC 2008 DEC 2009 DEC 2010 DEC 2011 DEC 2012 DEC 2013 DEC 2014 DEC 2015 DEC 2016 DEC 2017 DEC 2018 DEC 2019 DEC 2020 DEC 2021 DEC 2022 DEC 2023 DEC 2024 DEC 2025 FUND

$4,225 5,176 6,782 7,597 7,190 9,033 10,771 12,686 14,792 16,392 19,265 21,622 24,192 26,993 30,044 33,363 36,972 40,326 44,552 48,502 53,441 58,082 63,087 68,483 74,300 80,569 80,431 86,826 93,665 114,288 120,002 126,003 132,303 138,918 145,864 EST. COST

$16,565 26,915 28,530 30,242 26,629 28,227 29,920" 31,716 33,618 35,636 37,774 40,040 42,443 44,989 47,688 50,550 53,583 56,798 60,206 63,818 67,647 71,706 76,008 80,569 85,403 90,527 95,959 101,716 107,819 114,288 120,002 126,003 132,303 138,918 145,864 (4)

(S)-(3x4)

(6)-(I x4)

FUNDING FLOOR CURVE

%FUNDED 26%

19%

24%

25%

27%

32%

36%

40%.

44%

46%

51%

54%

57%

60%

63%

66%

69%

71%

74%

76%

79%

81%

83%

85%

87%

89%

91%

93%

95%

100%

CRITERIA 80%

80%

81%

82%

83%

84%

85%

86%

87%

88%

89%

90%

91%

92%

93%

94%

95%

100%

PERCENT 20%

15%

19%

20%

21%

25%

29%

32%

35%

37%

40%

43%

46%

48%

51%

54%

57%

60%

63%

65%

68%

71%

74%

77%

80%

82%

85%

88%

91%

100%

(7)

FUND

$15,227 15,762 7,103 7,350 9,380 12,545 169317 19.630 (g)- (2)

ACTUAL FUNDING EST. COST

$16,565 26,915 28,530 30,242 26,629 28,227 291,920 31,716 (9)-(7/8)

%FUNDED 92%

59%

25%

24%

35%

44%

55%

62%

I AMOUNT

$3,380 4,141 5,426 6,078 5,752 7,226 8,617 10,149 11,834 13,114 15,412 17,297 19,354 21,595 24,335 27,358 30,687 33,874 37,869 "41,711 46,494 51,112 56,147 61,635 67,613 74,123 74,801 81,616 88,982 114,288 120,002 126,003 132,303 138,918 145,864 Page 13 m

l l

SCPPA PALO VERDE UNIT 2 FUNDING PLAN 100%

90%

80%

C TA z

af 0%

50*0 r

FLOOR 30%

20%-

comm ACTUAl 10%FLO 0%

PAGE 14 1991 1994 1997 2000 2003 2006 2009 2012 2015 2018 2021 2024 YEAR

SOUTHERN CALIFORNIA PUBLIC POWER AUTHORITY 1998 PALO VERDE UNIT - 2 FUNDING STATUS TERMINATION COST FUNDING

($ THOUSAND)

())-(2x3) '

(2)

(3)

(4)

(S)-(3 x4)

(6) -(1 x4)

AUTHORIZED FUNDING PLAN FUNDING FLOOR CURVE YEAR FUND EST. COST

%FUNDED CRITERIA PERCENT AMOUNT DEC 1991

$3,966

$16,423 DEC DEC DEC DEC DEC DEC jDEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 4,932 6,548 8,515 8,568 10,254 12,112 14,155 16,401 18,494 20,780 23,689 26,432 29,419 32,669 35,679 39,488 43,626 47,493 52,330 56,874 61,775 67,060 72,756 79,781 86,447 93,626 100,299 108,555 117,441 125,745 132,032 138,634 145,565 152,844 160,486 26,483 28,072 29,756 27,640 29,298 31,r056 32,920 34,895 36,989 39,208 41,560 44,054 46,697 49,499 52,469 55,617 58,954 62,491 66,241 70,215 74,428 78,894 83,628 88,645 93,964 99,602 105,578 111,913 118,627 125,745 132,032 138,634 145,565 152,844 160,486 24%

19%

23%

29%

31%

35%

39%

43%

47%

50%

53%

57%

60%

63%

66%

68%

71%

74%

76%

79%

81%

83%

85%

87%

90%

92%

94%

95%

97%

99%

100%

80%

80/0 80%

81%

82%

83%

84%

85%

86%

87%

88%

89%

90%

91%

92%

93%

94%

95%

100%

19%

15%

19%

23%

25%

28%

31%

34%

37%

40%

43%

45%

48%

50%

53%

55%

58%

61%

64%

67%

70%

72%

75%

78%

81%

83%

86%

89%

91%

94%

100%

$3,173 3,946 5,238 6,812 6,855 8,204 9,690 11.324 13,120 14,795 16,624 18,952 21,146 23,535 26,135 28,900 32,380 36,210 39,895 44,481 48,912 53,745 59,013 64,753 71,803 78,667 86,136 93,278 102,042 111,569 125,745 132,032 138,634 145,565 152,844 160,486 (7)

($)-=()

(9)-(7/8)

ACTUAL FUNDING FUND EST. COST

%FUNDED

$15,948 16,719 7,962 7,626 9,750 12,896 162755 20.020

$16,423 26,483 28,072 29,756 27,640 29,298 312056 32.920 97%

63%

28%

26%

35%

44%

54%

61%1 Page 15

Revised SCPPA PALO VERDE UNIT 3 FUNDING PLAN 2000 2003 2006 2009 YEAR 2012 2015 2018 2021 2024 2027 Page 16 100%

90%

80%

70%

a u 0 z

LL t-50%

z Lu 40%

30%

20%

1004 0%A CUAA 8 F ING STATUS AMOUNT PERCENT COMMITTED

$14,868,000 40%

ACTUAL

$21,404,000 58%

FLOOR

$11,895,000 32%

l

-I i

i 1991 1994 1997

SOUTHERN CALIFORNIA PUBLIC POWER AUTHORITY 1998 PALO VERDE UNIT - 3 FUNDING STATUS TERMINATION COST FUNDING (S THOUSAND)

() -(2 x 3)

(2)

(3)

(4)

(s)- (3 x 4)

(6)- (1 x4)

(7)

(1)-(2)

(9)-(71S)

AUTHORIZED FUNDING PLAN FUNDING FLOOR CURVE ACTUAL FUNDING YEAR FUND EST. COST

%FUNDED CRITERIA PERCENT AMOUNT FUND EST. COST

/,FUNDED DEC 1991

$3,098

$18,225 DEC 1992 4,125 DEC 1993 5,769 DEC 1994 8,375 DEC 1995 9,051 DEC 1996 10,917 DEC 1997 12,624 rDEC 1998 14,868 DEC 1999 17,336 DEC 2000 19,629 DEC 2001 22,135 DEC 2002 24,871 DEC 2003 27,856 DEC 2004 31,109 DEC 2005 34,652 DEC 2006 37,916 DEC 2007 42,075 DEC 2008 45,931 DEC 2009 50,804 DEC 2010 55,348 DEC 2011 60,254 DEC 2012 "66,391 DEC 2013 72,156 DEC 2014 78,374 DEC 2015 85,078 DEC 2016 92,304 DEC 2017 98,967 DEC 2018 107,290 DEC 2019 116,254 DEC 2020 125,908 DEC 2021 134,883 DEC 2022 150,501 DEC 2023 158,026 DEC 2024 165,927 DEC 2025 174,223 DEC 2026 182,934 DEC 2027 192,081 28,298 29,996 31,796 31,209 33,082 35,066 37,170 39,401 41,765 44,271 46,927 49,742 52,727 55,891 59,244 62,799 66,567 70,561 74,794 79,282 84,039 89,081 94,426 100,091 106,097 112,463 119,211 126,363 133,945 141,982 150,501 158,026 165,927 174,223 182,934 192,081 17%

15%

19%

26%

29%

33%

36%

40%

44%

47%

50%

53%

56%

59%

62%

64%

67%

69%

72%

74%

76%

79%

81%

83%

85%

87%

88%

90%

92%

94%

95%

100%

80%

81%

82%

83%

84%

85%

86%

87%

88%

89%

90%

91%

92%

93%

94%

100%

14%

$2,478 12%

3,300 15%

4,615 21%

6,700 23%

7,240 26%

8,734 29%

10,099 32%

11,895 35%

13,869 38%

15,704 40%

17,708 43%

19,897 45%

22,285 47%

24,887 49%

27,722 52%

30,333 54%

33,660 56%

37,204 59%

41,659 62%

45,939 64%

50,614 67%

56,432 69%

62,054 72%

68,185 74%

74,868 77%

82,151 80%

89,071 82%

97,633 85%

106,954 87%

117,095 90%

126,790 100%

150,501 100%

158,026 100%

165,927 100%

174,223 100%

182,934 100%

192,081

$17,223

$18,225 18,454 28,298 7,830 29,996 7,664 31,796 9,985 31,209 13,337 33,082 17,617 35,066 21.404 37.170 Page 17 95%

65%

26%

24%

32%

40%

4 50%

58%1 l

f l

Appendix B, Tab 7 Palo Verde Nuclear Generating Station Units 1, 2, & 3 LADWP 1998 Annual Funding Status Report Section 2.1.7 [Restated]

Summary of Major Assumptions Escalation Factor Rate of Return Participation Ratio Funding Period Funding Level 5%

7.00%

5.7%

35 years for each unit Includes Water Reclamation Facility and 25% Contingency Factor 5o75f.ReporL1M.x PJH 3/24/99

Department of Water & Power Palo Verde Project Termination Cost Funding I

Unit I nI Uit 2 UI unit 3

[

Period Contribution Intercs Buance Period Contribution Interest Baance Perriod innbution Intccst Ranm=

Grand Total Contmdbnton I

=

Ttah 12/31/90 6/30/91 12/31/91 6/30/92 12/31/92 6/30/93 12/31/93 6/30/94 12/31/94 6/30/95 12/31/95 6/30/96 12/31/96 6/30/97 12/31/97 6/30/98 12/31/98 6/30/99 12/31/99 6/30/00 12/31/00 6/30/01 12/31/02 6/30/02 12/31/02 6/30/03 12/31/03 6/30/04 12/31/04 6/30/05 12/31/05 6/30/06 12/31/06 6/30/07 12/31/07 6/30/08 2,444,200 106,706 2,774,232 428,941 3S426,499 116,869 3,766,694 104,872 4,305,593 90,854 4,841,992 87,753 5,361,664 111,532 5,905,115 (131,334) 6,205,700 404,898 7,042,517 262,538 9,060,617 260,302 11,076,481 258,223 12,928,100 247,064 14,768,560 565,873 16,927,829 738,933 19.260.158 "996,208 21,849,762 764,742 22,492,983 787,254 23,158,716 810,555 23,847,751 834,671 24,560,901 859,632 25,299,012 885,465 26,062,956 912,203 26,853,639 939,877 27,671,996 968,520 28,518,995 998,165 29,395,639 1,028,847 30,302,965 1,060,604 31,242,048 1,093,472 32,213,999 1,127,490 33,219,968 1,162,699 34,261,146 1,199,140 35,338,766 1,236,857 36,454,102 1,275,894 37,608,474 1,316,297 38,803,250 2,159,244 105,780 2,497,502 490,438 3,220,418 111,934 3,564,830 129,716 4,118,240 173,551 4,712,863 93,888 5,221,635 10,343 5,646,862 (120,146) 5,941,600 339,916 6,696,400 235,585 8,601,724 197,615 10,469,078 211,610 12,433,800 238,202 14,425,114 583,850 16,762,076 794,564 19,309,752 653,844 21,716,708 760,085 22,378,074 783,233 23,062,588 807,191 23,771,061 831,987 24,504,329 857,652 25,263,262 884,214 26,048,758 911,707 26,861,746 940,161 27,703,189 969,612 28,574,082 1,000,093 29,475,456 1,031,641 30,408,379 1,064,293 31,373,953 1,098,088 32,373,323 1,133,066 33,407,671 1,169,268 34,478,221 1,206,738 35,586,240 1,245,518 36,733,040 1,285,656 37,919,978 1,327,199 39,148,459 270,890 270,890 270,890 464,724 477,502 462,987 "462,987 462,987 "462,987 1,884,499 1,884,499 1,963,492 1,963,492 1,963,492 1,963,92 1,963,492 (11,968).

(11,968)

(11,968) 71,900 432,437 77,462 84,937 111,010 52,475 47,978 (159,863) 295,915 181,886 152,131 150,991 184,812 399,527 549,326 51171 764,085 790,409 817,655 845,854 875,040 905,247 936,512 968,871 1,002,363 1,037.026 1,072,903 1,110,036 1,148,468 1,188,246 1,229,416 1,272,026 1,316,128 1,361,774 1,409,017 1,493,407 1,836,197 2,539,524 2,887,876 3,437,537 4,026,049 4,541,511 5,052,476 5,355,600 6,114,502 8,180,887 10,217,517 12,332,000 14,480,304 16,843,323 19.356,141 21,831,004 22,583,121 23,361,562 24,167,248 25,001,134 25,864,205 26,757,484 27,682,027 28,638,930 29,629,324 30,654,382 31,715,317 32,813,385 33,949,885 35,126,163 36,343,610 37,603,668 38,907,828 40,257,634 41,654,683 0

0 6,096,851 726,694 284,386 7,107,931 726,694 1,351,816 9,186,441 726,694 306,265 10,219,400 1,322,445 319,525 11,861,370 1,344,119 375,415 13,580,904 1,309,790 234,116 15,124,810 1,309,790 169,853 16,604,453 1,309,790 (411,343) 17,502,900 1,309,790.

1,040,729 19,853,419 5,309,800 680,009 25,843,228 5,309,800 610,048 31,763,076 5,310,000 620,824 37,693,900 5,310,000 670,078 43,673,978 5,310,000 1,549,250 50,533,228 5,310,000 2082.Z823 57,926,051 5,310,000 2,161,423 65,397,474

.(232,208) 2,288,912 67,454,178 (232,208) 2,360,896 69,582,867 (232,208) 2,435,400 71,786,060 (232,208) 2,512,512 74,066,364 (232,208) 2,592,.323 76,426,479 (232,208) 2,674,927 78,869,198 (232,208) 2,760,422 81,397,413 (232,208) 2,848,909 84,014,114 (232,208) 2,940,494 86,722,401 (232,208) 3,035,284 89,525,477 (232,208) 3,133,392 92,426,661 (232,208) 3,234,933 95,429,387 (232,208) 3,340,029 98,537,208 (232,208) 3,448,802 101,753,802 (232,208) 3,561,383 105,082,978 (232,208) 3,677,904 108,528,674 (232,208) 3,798,504 112,094,970 (232,208) 3,923,3X4 115,786,087 (232,208) 4,052,513 119,606,392 Page 10 232,478 232,478 232,478 423,694 421,072 414,884 414,884 414,884 414.884 1,669,739 1,669,739 1,753,112 1,753,112 1,753,112 1,753,112 1,753,112 (98,718)

(98,718)

(98.718)

(98,718)

(98,718) 223,326 223,326 223,326 434,027 "5,545 431,919 431,919 431,919 431,919 1,755,562 1,755,562 1,593,396 1,593,396 1,593,396 1,593,396 1,593,396 (121,521)

(121,521)

I I

Department of Water & Power Palo Verde Project Termination Cost Funding I

Unit Perod b

Intest B

Unit 2 I

Unit 3 Period Contribution Int t

Baance Period Cn u

Interest Balance Grand Total Contribution Intre ToaW 1,358,114 40,039,843 1,401,395 41,319,717 1,446,190 42,644,386 1,492,554 44,015,419 1,540,540 45,434,437 1,590,205 46,903,122 1,641,609 48,423,210 1,694,812 49,996,502 1,749,878 51,624,859 1,806.870 53,310,208 1,865,857 55,054,544 1,926,909 56,859,933 1,990,098 58,728,509 2,055,498 60,662,486 2,123,187 62,664,153 2,193,245 64,735,877 2,265,756 66,880,112 2,340,804 69,099,395 2,418,479 71,396,353 2,498,872 73,773,705 2,582,080 76,234,264 2,668,199 78,780,942 2,757,333 81,416,754 2,849,586 84,144,820 2,945,069 86,968,368 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 (98,718)

(98,718)

(98.718)

(98,718)

(98,718) 1,370,196 1,414,698 1,460,757 1,508,428 1,557,768 1,608,835 1,661,689 1,716,393 1,773,012 1,831,612 1,892,263 1,955,037 2,020,008 2,087,254 2,156,852 2,228,887 2,303,443 2,380,608 2,460,474 2,543,136 2,628,690 2,717,239 2,808,888 2,903,744 3,001,919 3,103,532 3,208,700 40,419,937 41,735,916 43,097,954 44,507,664 45,966,714 47,476,831 49,039,801 50,657,476 52,331,769 54,064,662 55,858,207 57,714,526 59,635,816 61,624,351 63,682,485 65,812,653 68,017,377 70,299,267 72,661,023 75,105,440 77,635,412 80,253,933 82,964,102 85,769,128 88,672,329 91,677,142 94,787,123 42 (11,968) 43 (11,968) 44 (11,968) 45 (11,968) 46 (11,968) 47 (11,968) 48 (11,968) 49 (11,968) 50 (11,968) 51 (11,968) 52 (11,968) 53 (11,968) 54 (11,968) 55 (11,968) 56 (11,968) 57 (11,968) 58 (11,968) 59 (11,968) 60 (11,968) 61 (11,968) 62 (11,968) 63 (11,968) 64 (11,968) 65 (11,968) 66 (11,968) 67 (11,968) 68 (11,968) 69 (11,968) 70 (11,968)

Page 11 DMIS 46 47 48 49 5o 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 12/31/08 6/30/09 12/31/09 6/30/10 12/31/10 6/30/11 12/31/11 6/30/12 12/31/12 6/30/13 12/31/13 6/30/14 12/31/14 6/30/15 12/31/15 6/30/16 12/31/16 6/30/17 12/31/17 6/30/18 12/31/18 6/30/19 12/31/19 6/30/20 12/31/20 6/30/21 12/31/21 6/30/22 12/31/22 (121,521)

(121,521)

(121,521) 1,457,914 1,508,522 1,560,901 1,615,114 1,671,224 1,729,298 1,789,405 1,851,615 1,916,003 1,982,644 2,051,617 2,123,005 2,196,891 2,273,364 2,352,513 2,434,432 2,519,218 2,606,972 2,697,797 2,791,801 2,889,095 2,989,794 3,094,018 3,201,890 3,313,537 3,429,092 3,548,691 3,672,477 3,800,594 43,100,629 44,597,182 46,146,115 47,749,261 49,408,517 51,125,847 52,903,283 54,742,929 56,646,964 58,617,639 60,657,288 62,768,325 64,953,248 67,214,643 69,555,187 71,977,651 74,484,900 77,079,903 79,765,731 82,545,564 85,422,690 88,400,516 91,482,566 94,672,487 97,974,056 101,391,180 104,927,903 108,588,411 112,377,035 (232,208)

(232,208)

(232.208)

(232,208)

(232,.08)

(232,208)

(110,687)

(11,968)

(11,968) 4,186,224 4,324,614 4,467,849 4,616,096 4,769,532 4,928,338 5,092,703 5,262,820 5,438,892 5,621,126 5,809,738 6,004,951 6,206,997 6,416,115 6,632,552 6,856,564 7,088,416 7,328,384 7,576,750 7,833,809 8,099,865 8,375,233 8,660,239 8,955,220 9,260,525 6,532,623 6,757,391 3,672,477 3,e8W,94 123,560,408 127,652,815 131,888,456 136,272,344 140,809,668 145,505,799 150,366,294 155,396.907 160,603,591 165,992,509 171,570,039 177,342,783 183,317,573 189,501,480 195,901,825 202,526,181 209,382,390 216,478,566 223,823,108 231,424,709 239,292,366 247,435,391 255,863,422 264,586,434 273,614,752 193,068,321 199,715,025 108,588,411 112,377,035

DWP PALO VERDE UNIT 1 FUNDING PLAN 100%*

I--COMMTTED -U-FLOOR -A-ACTUAL 90%

!.~o r

t I 70%

Ir 2o.**

J "*"*"SAMOUNT S11,000 lov ACTUAL 21,850 FLOOR 8,800 o y e!

I I

Page 12 1991 1994 1997 2000 2003 2006 2009 2012 2015 2701 2021 2024 Year

DEPARTMENT OF WATER & POWER 1998 PALO VERDE UNIT 1 FUNDING STATUS TERMINATION COST FUNDING (In Thousand $)

(1)

(2)

(3)

Authorized Funding Plan Month fmod_

Est Cs %Funded (2) X (3)

(4)

(5)

(6)

Funding Floor Curve Cneeri frea Amoun (3) X (4)

(1) X (4)

(7)

(8)

(9)

Actual Funding fnd ELQ Cost%

Fun/ded (7)/(B) 3,261 4,330 5.513 6,780 6,934 8,359 9*,627 11000 12,487 14,094 15,832 17,707 19,731 21,913 24,263 26,794 29,518 32,446 35,086 38,442 42,045 45,914 50,064 53,865 58,602 63,679 69,116 74,150 80,342 86,968 15,677 25,832 27,124 28,480 25,682 26,966 28,314 29,730 31,217 32,777 34,416 36,137 37,944 39,841 41,833 43,925 46,121 48,427 50,849 53,391 56,061 58,864 61,807 64,897 68,142 71,549 75,127 78,883 82,827 86,968 DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC 21%

17%

20%o 24%

27%

31%

34%

370/v 40%

43%

46%

49%

52%

55%

580/6 61%

64%/6 67%

69%

72%

75%

78%

81%

83%

86%

89%

92%

94%

97%

1000/o 100%

100%

100o/o 100/

1000/o 800/,

800/%

80%

800/

80%/

800/

80/o 80°/,

80%

800/0 80%

80%/

81%

82%

83%

84%

85%

86%

87%

88%/0 890/o 900/o 91%

920/

93%

94%

95%

96%

97%

98%

99%

100%

1000/0 17%

13%

16%

190/0 22%

25%

27%

30%

32%

34%

37%

39%

42%

44%

47%

50%

53%

56%

590/o 62r/9 65%

69%

72%

75%

78%

82%

86%

88%/

92%

96%

97%

980/0 99%

100I/o 100%/O 2,609 3,464 4,410 5,424 5,547 6,688 7,702 8,800 9,989 11,275 12,665 14,166 15,785 17,530 19,653 21,971 24,5W0 27,255 29,823 33,060 36,580 40,404 44,557 48,478 53,328 58,584 64,278 69,701 76,325 83,490 88,577 93,965 99,670 105,711 110,996 3,426 15,677 4,306 25,832 5,362 27,124 6,206 28,480 9,061 25,682 12,928 26,966 16,928 28,314 21.850 29.730 Page 13 22%

17%

20%

22%

35%

48%

60%A 73%1 1991 192 1993 194 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 91,317 91,317 95,883 95,883 100,677 100,677 105,711 105,711 110,996 110,996 r

l

DWP PALO VERDE UNIT 2 FUNDING PLAN 4-

-COMM=TTED -FLOOR -A-AC"UAL 190%

I I"I

,.4 0

1998 FUNDING STATI

$AMOUNT 20%

COMMITTED 11,110 ACTUAL 21,717 10%

FLOOR 8,888 1991 1994 1997 2000 2003 2006 2009 2012 2015 2018 2021 2024 Year Page 14

DEPARTMENT OF WATER & POWER 1998 PALO VERDE UNIT 2 FUNDING STATUS TERMINATION COST FUNDING (In Thousand $)

(1)

(2)

(3)

Authorized Funding Plan Month XY=

fsm ELL Ct Funded (2) X (3)

(4)

(5)

(6)

Funding Floor Curve O)m x (

Amount (7)

(a)

(9)

Acu(l Funding (7)/(8) 3,055 15,542 4,104 25,418 5,237 26,689 6,449 28,023 6,931 26,658 8,397 27,991 9,699 29,390 11,110 30.860 12,637 32,403 14,290 34,023 16,076 35,724 18,005 37,510 20,087 39,386 22,332 41.355 24,317 43,423 26,901 45,594

.29,682 47,874 32,674 50,268 35,363 52,781 38,794 55,420 42,479 58,191 46,436 61,101 50,041 64,156 54,564 67,363 59,415 70,732 63,871 74,268 69,404 77,982 75,330 81,881 81,676 85.975 86,663 90,273 94,787 94,787 99,526 99,526

.104,503 104,503 109,728 109,728 115,214 115,214 120,975 120,975 20"/6 16%

20'/m 23%

26%

300/6 33%

36%

39%

42%/@

45%

48%

51%

54%

56%

59%

62%

65%

67%

70%/,

73%

76%

78%

81%

84%

861/9 89%

92%

95%

S96%

100%

1006/,

100./,

100We 100%/6 1004/6 804/0 80%/,

50%/

80'!/

808/f 809/

80"/6 80'/,

80"/,

80./6 806/4 80'/,

80./,

81%

82/,

83%

841/9 85%

86%

87%

88%

89%

909/0 91%

92%

93%

94%

95%

96%

97%

98%

99%/.

100%

16%

13%

16%

18%

21%

24%

26%

29%

31%

34%

36%

38%

41%

43%

45%

48%

51%

54%

56%

60%

63%

66%

69%

720/v 76%

78%

82%

86%

89%

91%

96%

97%

98%

99%

100%.

1009 2,444 3,283 4,190 5,159 5,545 6,718 7 759 8,888 10,110 11,432 12,861 14,404 16,069 17,865 19,454 21,789 24,339 27,119 29,705 32,975 36,532 40,400 44,036 48,562 53,473 58,122 63,851 70,057 76,775 82,329 90,996 96,541 102,413 108,631 115,214 120,975 3,220 15,542 4,118 25,418 5,222 26,689 5,942 28,023 8,602 26,658 12.434 27,991 16,762 29,390 21.717 30.860 Page 15

21%

16%

20r/6 21%

32%l 441/6 57%

70-/41 DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 I -

-I...

I

DWP PALO VERDE UNIT 3 FUNDING PLAN

-.O-COM IT

-UE--FLOOR

-hA CTUAL 70%

/ /Q,*'

l.l.1,1.TI I I lllll I 40%

1998 FUNDING STATUS

$AMOUNT PERCENT 20%

COMMITTED 11,499 33%

ACTUAL 21,831 63%

FLOOR 9,199 26%

1991 1994 1997 2000 2003 2006 2009 2012 2015 2018 2021 2024 2027 Year Page 16

DEPARTMENT OF WATER & POWER 1998 PALO VERDE UNIT 3 FUNDING STATUS TERMINATION COST FUNDING (In Thousand $)

MNkzh Xsu DEC 1991 DEC 1992 DEC 1993 DEC 1994 DEC 1995 DEC 1996 DEC 1997 DEC 1998 DEC 1999 DEC 2000 DEC 2001 DEC 2002 DEC 2003 DEC 2004 DEC 2005 DEC 2006 DEC 2007 DEC 2008 DEC 2009 DEC 2010 DEC 2011 DEC 2012 DEC 2013 DEC 2014 DEC 2015 DEC 2016 DEC 2017 DEC 2018 DEC 2019 DEC 2020 DEC 2021 DEC 2022 DEC 2023 DEC 2024 DEC 2025 DEC 2026 DEC 2027 (1)

(2)

(3)

Authorie Fundinlc Plan (2) x (3) 2,452 3,452 4,636 5,905 6,923 8,217 9,956 11,499 13,171 14,982 16,941 19,059 21P346 23,814 26,476 28,829 31,893 35,190 38,737 41,926 45,993 50,363 55,054 59,328 64,690 70,440 75,723 82,283 89,309 96,833 104,885 112,377 117,996 123,896 130,090 136,595 143,425 17,248 27,160 28,518 29,944 30,100 31,605 33,185 34,45 36,587 38,416 40,337 42,354 44,471 46,695 49,030 51,481 54,055 56,758 59,596 62,576 65,705 68,990 72,439 76,061 79,864 83,857 88,050 92,453 97,076 101,929 107,026 112,377 117,996 123,896 130,090 136,595 143,425 (4)

(5)

(6)

Funding Floor Curve ClcOi

)

Petcn S I) x (4 (3) X (4)

(1) X (4) 14%

13%

16%

20%

23%

26%

300/%

33%

36%

39%

42%

45%

48%

51%

54%

56%

59%/0 62%/9 65%

67%

700/6 73%

76%

78%

81%

84%

86%

890/o 920/o 95%

98%

100%0 1000/o 100%

1000/%

1000/0 1000/o 80%

80%

W/o W/o 80%

8OO/0 80°/9 80%/

800/0 800/6 82%

83%

840/6 as%

86%

87%

88%

890/

900/0 91%

92%

93%

948/

95%

96%

97%

980/0 99%4

!100%/

11%

10%

13%

16%

189/%

21%

24%

26%

29%/

31%

34%

36%

380/6 41%

43%

45%

47%

50%/

53%

56%

59%

62°o 65%0 68%

71%

75%

77%

81%

85%

88%

92r 95%

96%

97%

98%

99%

100%

1,962 2,762 3,709 4,724 5,538 6,574 7,964 9,199 10,537 11,986 13,553 15,247 17,077 19,052 21,181 23,064 25,514 28,504 31,765 34,798 38,634 42,808 47,346 51,615 56,927 62,692 68,151 74,878 82,165 90,055 98,592 106,758 113,276 120,179 127,489 135,229 143,425 (7)

(8)

(9 Actual Funding Emd EL Cost % Funded (7)/(8) 2,540 17,248 3,438 27,160 4,542 28,518 5,356 29,944 8,181 30,100 12,332 31,605 16,843 33,185 21.831 34.145 15%

13%

16%

18%

27%

39%

51%

63%1 Page 17 r

I n

I

Deletedfper APS Letter 102-04823, datedAugust 1, 202 Application Withheld ing Information be iblic Disclosure

Deleted per APS Letter 102-04823, dated August 1, 2002 STATE OF ARIZONA s

) ss.

UNTY OF MARICOPA )

AFFIDAVIT OF JAMES M. LEVINE I, James M. Lev e, Senior Vice President, Nuclear, of the Arizona Pu c Service Company (APS),

hereby affirm and state:

1.

I am aut rized to execute this affidavit on behalf o'APS.

2.

In its 1998 commissioning Funding Report, bmitted pursuant to 10 CFR 50.75(f)(

APS is providing on behalf the Participants in Palo Verde Nuclear nerating Station a compil ion of information regarding decommissioning rnding (Appendix A, T s 1-3). The compilation of information in Appen ix A is confidenti commercial and financial information that shoul e held in co dence by the NRC and withheld from public disclosure p suant to CFR § 2.790, because:

i.

The compiled informa provided in the Tables in Appendix A is and has been held in fidence by APS.

ii.

This information is f a type at is customarily held in confidence by APS, and the is a ration basis for doing so because the information re esents a unique ompilation of sensitive commercial d financial informa n concerning the decommis oning funding.

iii.

This i rmation is being transmitted to e NRC in confidence.

iv.

T 'information, as compiled, is not availa in public sources and uld not be gathered readily from other publi available information.

v Public disclosure of this information would create s stantial harm to the competitive position of APS by disclosing sensi vie commercial and financial information about the decom 'ssioning funding for PVNGS to other parties whose commercial in rsts, may be adverse to those of APS.

Defeted perJAPS Letter 102-04823, datedAugust 1, 2002

3.

Accordingly, APS requests that the information provided in Appendix A be withheld from public disclosure pursuant to 10 CFR § 2.790.

/

Sworn To Before Me Day of My Commission Expires

,-r Notary Public OfFIAl SA NORA E. MEADOR NOINY Pubic - 59u of Adz=na MARICOPA COUNTY My Comm. Expires Apil 6. 1999 1999.

w I

t

Attachment B Updated APS Letter No. 102-04550-GRO/SABIRKB, dated March 29, 2001, from G. R. Overbeck, APS, to NRC, "Status of Decommissioning Funding"

10 CFR 50.75(f)(1)

Palo Verde Nuclear Generating Station Gregg R. Overbeck Senior Vice President Nuclear Mail Station 7602 TEL (623) 393-5148 P.O. Box 52034 FAX (623) 393-6077 Phoenix, AZ 85072-2034 102-04550-G RO/SAB/RKB March 29, 2001 U. S. Nuclear Regulatory Commission ATTN: Document Control Desk Mail Station P1-37 Washington, DC 20555

Dear Sirs:

Subject:

Palo Verde Nuclear Generating Station (PVNGS)

Units 1, 2, and 3 Docket Nos. STN 50-52815291530 Status of Decommissioning Funding In accordance with the requirements of 10 CFR 50.75(f)(1), Arizona Public Service Company (APS) is submitting the status of the decommissioning funding for PVNGS Units 1, 2, and 3. APS is relying upon the 2000 Annual Funding Status Report from each Participant in providing the information in this report with respect to each Participant's current funds, as well as future funding plans and assumptions.

The report and its appendices, provided in Enclosure 1, contain the status of decommissioning funding for each PVNGS unit and for each of the owners.

suppee nof f

4the

")qes tha

\\14 i

,rs

,*nfe-M-l,-R ben wihed4-,uledie;;

Detedper APS Letter102-.04823, This letter does not make any commitments to the NRC.

Augus1 If you have any questions, please contact Scott A. Bauer at (623) 393-5978.

Sincerely,

U. S. Nuclear Regulatory Commission ATTN: Document Control Desk Status of Decommissioning Funding for PVNGS Units 1, 2, and 3 Page 2 GRO/SAB/RKB/kg

Enclosures:

1. 2000 Decommissioning Funding Status Report for Palo Verde Nuclear Generating Station Units 1, 2 & 3

2. Af#id'wotof Gregg R.

b... e Requeoting I

-f48o23,n Be Withh oid I FomPubicDielouroedperP Letter 102-0423, dteAu4gust 1, 2002 cc:

E. W. Merschoff J. N. Donohew J. H. Moorman A. V. Godwin [ARRA]

R. S. Wood w/ Enclosures w/o Enclosures w/o Enclosures w/o Enclosures w/ Enclosures A

2000 Decommissioning Funding Status Report for Palo Verde Nuclear Generating Station Units 1, 2 & 3

2000 DECOMMISSIONING FUNDING STATUS REPORT 10 CFR 50.75(f)(1)

(For The Year Ending December 31, 2000)

PALO VERDE NUCLEAR GENERATING STATION, UNITS 1,2 & 3 Submitted on Behalf of Arizona Public Service Company Salt River Project Agricultural Improvement and Power District El Paso Electric Company Southern California Edison Company Public Service Company of New Mexico Southern California Public Power Authority Los Angeles Department of Water and Power

OVERVIEW This Decommissioning Funding Status Report is being submitted pursuant to 10 CFR 50.75(f)(1) by Arizona Public Service Company (APS) as the operator of Palo Verde Nuclear Generating Station (PVNGS), Units 1, 2 & 3. APS is submitting this report on behalf of the seven Participants in PVNGS:

Participant

% Share of Each Unit

1.

Arizona Public Service Company (APS) 29.10

2.

Salt River Project Agricultural Improvement and Power District (SRP) 17.49

3.

El Paso Electric Company (EPE) 15.80

4.

Southern California Edison Company (SCE) 15.80

5.

Public Service Company of New Mexico (PNM) 10.20

6.

Southern California Public Power Authority (SCPPA) 5.91

7.

Los Angeles Department of Water and Power 5.70 (LADWP)

Pursuant to Sections 8A.4 and 8A.7.2.4 of the PVNGS Participation Agreement, as amended through Amendment 14, each Participant provides an annual decommissioning funding status report for review by the Termination Funding Committee established pursuant to the PVNGS Participation Agreement. APS is relying upon the 2000 Annual Funding Status Report from each Participant in providing the information in this report with respect to each Participant's current funds, as well as future funding plans and assumptions.

(1) DECOMMISSIONING FUNDS ESTIMATED TO BE REQUIRED In a report dated December 1998, TLG Services, Inc. (TLG) prepared a site specific Decommissioning Cost Study for PVNGS. This study includes cost estimates for basic NRC radiological decommissioning within the meaning of 10 CFR 50.75(b) & (c) (hereafter, Basic Radiological Decommissioning), as well as for spent fuel management and for non-radiological decommissioning activities.

The 1998 Total Decommissioning Costs for each unit and the Basic Radiological Decommissioning costs can be broken down as follows (in millions of dollars):

PVNGS Unit Total Decommissioning Basic Radiological Cost Estimate Decommissioning Unit 1

$557.6

$424.5 Unit 2

$586.9

$454.7 Unit 3

$631.1

$485.7 Each participant is entitled to exercise its own judgment regarding additional contingency factors and scope of work beyond the scope of work assumed in TLG's site specific study. In addition, assumptions regarding decommissioning cost escalation and trust fund earnings may affect funding levels. Therefore,

Participants may accumulate funds based upon a Basic Radiological Decommissioning Cost Estimate and Total Decommissioning Cost Estimate that exceed the amounts noted above. Regardless of such independent judgments, each Participant meets NRC requirements for purposes of estimating the decommissioning funds to be required, because the site specific estimates of costs noted above for the Basic Radiological Decommissioning of each PVNGS unit exceed the NRC minimum formula amount calculated in accordance with 10 CFR 50.75(c), NUREG-1 307, Rev. 9, Report on Waste Burial Charges: Changes in Decommissioning Waste Disposal Costs at Low-Level Waste Burial Facilities, and Regulatory Guide 1.159, Assuring the Availability of Funds for Decommissioning Nuclear Reactors, as of December, 2000.

(2) AMOUNT OF FUNDS ACCUMULATED AS OF DECEMBER 31, 2000 The total amounts of funds accumulated by each Participant in their respective Nuclear Decommissioning Trusts for each unit as of December 31, 2000 are provided in Appendix A, Tab 1 (Unit 1), Tab 2 (Unit 2), & 3 (Unit 3). These values reflect the fair market value as reported by the respective Trustees at the end of calendar year 2000. In addition, in order to put the current levels of funding in perspective, the charts for each unit provided in Appendix A include:

(1) a breakdown for each unit of each Participant's percentage share of the 2000 Total Decommissioning Cost Estimate; (2) the 2000 annual contribution made by each Participant; and (3) the years remaining on the unit's operating license.

Note that the cost estimates are in 1998 dollars and do not take into account the individual assumptions made by each Participant, which may result in the accumulation of funds based upon higher cost estimates (e.g., site-specific estimates that may include removal and disposal of spent nuclear fuel and non radioactive structures).

(3) SCHEDULE OF ANNUAL AMOUNTS REMAINING TO BE COLLECTED AND ASSUMPTIONS Pursuant to the Participation Agreement, as amended and reformed, the Participants agreed that each Participant would commit to minimum levels of accumulation of funds, regardless of fund investment performance, pursuant to a pre-established percentage funded commitment or "Funding Curve" for each year through the end of plant life. Each Participant's percentage funding commitment was based upon an analysis which incorporated the Participant's individual business judgments (subject to regulatory approvals, as applicable) with respect to expected rates of fund investment earnings and escalation in total decommissioning costs. Every three years a site-specific decommissioning cost estimate is performed, and each participant applies the new cost estimate to its pre-established Funding Curve. A new Decommissioning Cost Estimate will be prepared in 2001. Each Participant is committed to minimum levels of accumulations, which cannot drop below a Funding Floor (which is never less than eighty percent of the Participant's Funding Curve and was established to take into account market fluctuations in the early years of fund accumulation).

These minimum commitment levels are based upon the liquidated, after-tax value of the funds. As such, the unliquidated values relied upon for purposes of NRC's decommissioning financial assurance requirements currently exceed these minimum commitment levels with respect to funds held by the investor-owned utility Participants in PVNGS. For the non-investor-owned Participants, the liquidated and unliquidated values are the same.

The current accumulation and funding schedules submitted in the 2000 Annual Funding Status Reports are based upon a 1998 site specific decommissioning cost estimate, that is escalated by each Participant. The tables and charts submitted by each Participant in the 2000 Annual Funding Status Reports are provided in Appendix B, Tabs 1, 2, 3, 4, 5, 6 & 7. (These Tabs correlate with the numbers assigned to Participants in the "Overview" above, which were assigned in descending order based upon the percentage share size of each Participant.)

The assumptions underlying each Participant's analysis are provided in Section 2.1.7. of the 2000 Annual Funding Status Reports. These assumptions reported by each Participant are restated, respectively, in Appendix B, Tabs 1, 2, 3, 4, 5, 6

&7.

Actual annual contributions of each Participant may vary from the annual contributions reflected in the tables provided in Appendix B, based upon actual fund performance and other factors. Each Participant is committed to maintaining the accumulation of funds established by the funding percentage curves, rather than any pre-established annual contribution.

(4) MODIFICATIONS TO LICENSEES' METHODS OF PROVIDING FINANCIAL ASSURANCE SINCE PREVIOUS REPORT There have been no modifications to the licensees' methods of providing financial assurance.

In the Decommissioning Funding Sections of the NRC's Safety Evaluations related to the proposed restructuring of Public Service Company of New Mexico (PNM) and El Paso Electric Company (EPE), dated September 29, 2000 and December 4, 2000, respectively, there is a discussion that by the time of the next biennial report to the NRC in March 2001 the precise method for collecting decommissioning costs via the New Mexico non-bypassable wires charge should be known. However, PNM and EPE report that New Mexico has enacted legislation that delays deregulation until 2007. Therefore, no further information is available with respect to the precise method for collecting decommissioning costs via the New Mexico non-bypassable wires charge.

(5) CONTRACTUAL OBLIGATIONS PURSUANT TO (e)(1(v)

No PVNGS Participant is relying upon a contract for purposes of providing decommissioning funding within the meaning of 10 CFR 50.75(e)(1)(v).

(6) MATERIAL CHANGES TO TRUST AGREEMENT The APS Master Trust Agreement has been amended on June 30, 2000. The amendment is provided at Appendix C, Tab 1. There have been no other amendments to the Trust Agreements of the various Participants since the last status report to the NRC.

The following Table provides the names of the current Trustees and Investment Managers as reported by each Participant in Section 1.1 of their 2000 Annual Funding Status Reports to the Termination Funding Committee.

Participant Trustee(s)

Investment Manager(s)

APS Mellon Bank, N.A.

RCM Capital Mellon Capital Delaware Investment Advisers SRP Marshall & IlIsley Vanguard Group Trust Company of Arizona Pacific Investment Management EPE Bank of America, N.A.

Phoenix Duff & Phelps Investment Advisors Rorer Asset Management SCE The Northern Trust STW Fixed Income Company Management Bankers Trust Company PanAgora Asset Management BlackRock Financial Management, Inc.

Stanford C. Bernstein &

Co., Inc.

PNM Mellon Bank, N.A.

T. Rowe Price and Associates, Inc.

Strong Capital Management SCPPA US Bank Trust, N.A.

None LADWP US Bank Trust, N.A.

None

Deletedfper APS Letter 102-04823, datedAgust 1, 2002 callro.&-fel.Tu.L wr.PlLaTwr.

ie emA 2 7m-Palo Verde Nuclear Generating Station Unit 1

($M)

Appendix A, Tab 1 Participants Total (1)

Site Specific Estimate Arizona Public Service Company Salt River Project Agricultural Improvement and Power District El Paso Electric Company Southern California Edison Company Public Service Company of New Mexico Southern California Public Power Authority Los Angeles Department of Water and Power 29.10 %

17.49 %

15.80 %

15.80%

10.20 %

5.91 %

5.70 %

TOTAL 100.00 %

NRC (1)

Basic Radiological Estimate 162.26 97.52 123.53 74.25 88.10 67.07 88.10 67.07 56.87 43.30 32.95 25.09 31.78 24.20 557.58 Total Nuclear Decommissioning I=ut (As of 12/31/00) 68.72 (3) 40.74 (4) 21.20 (5) 153.41 (6) 18.51 (7) 27.22 (8) 26.09 (9) 424.50 355.89 Fiscal (2)

Year 2000 CantrdiJZunD 3.80 1.22 1.69 3.72 1.56 2.48 0.00 14.47 (1) - Decommissioning Cost Study for PVNGS, prepared by TLG Services, Inc. (December, 1998)

(2) - Section 2.4 of 2000 Annual Funding Status Reports (3) - Exhibit B of APS 2000 Annual Funding Status Report (4) - Section 2.2.2 of SRP 2000 Annual Funding Status Report (5) - Section 2.2 of EPE 2000 Annual Funding Status Report (6) - Section 2.2.2 of SCE 2000 Annual Funding Status Report - Note: SCE accumulates funds based upon cost estimates that exceed the amounts noted above due to SCE judgments with respect to contingency factors and a scope of work beyond the scope of work assumed in the 1998 TLG study. In addition, its funding levels are also affected by assumptions regarding decommissioning cost escalation and trust fund earnings.

(7) - Section 2.2.1 of PNM 2000 Annual Funding Status Report (8) - Section 2.2.1 of SCPPA 2000 Annual Funding Status Report (9) - Section 2.2.1 of LADWP 2000 Annual Funding Status Report i

KCM - Alme to APOS 2001 50.75(f) Report Years To End Of Operating License (12/31/2024 24 24 24 24 24 24 24 vW m*w vw I

Dv Vv PJm a1/20M0

Deleted per APS Letter 102-04823, dated August 1, 2002 2.E,.TA..

t,,r ORM*,T;O,

, CFR 2.73&

Unit 2 Appendix A, Tab 2 Palo Verde Nuclear Generating Station

($M)

Total (1)

Site Specific Estimate Arizona Public Service Company Salt River Project Agricultural Improvement and Power District El Paso Electric Company Southern California Edison Company Public Service Company of New Mexico Southern California Public Power Authority Los Angeles Department of Water and Power 29.10 %

17.49 %

15.80 %

10.20 %

5.91 %

5.70 %

170.80 102.66 92.74 92.74 59.87 34.69 33.46 NRC (1)

Basis Radiological E*timate 132.31 79.53 71.84 71.84 46.38 26.87 25.92 Total Nuclear Decommissioning TLr=t (As of 12/31/00) 67.60 (3) 38.95 (4) 21.26 (5) 152.92 (6) 19.07 (7) 27.78 (8) 26.27 (9)

TOTAL 100.00 %

586.95 454.69 4

353.86 Fiscal (2)

Year 2000 Contributios 4.07 1.43 1.52 4.32 1.52 2.64 0.00 15.49 (1) - Decommissioning Cost Study for PVNGS, prepared by TLG Services, Inc. (December, 1998)

(2) - Section 2.4 of 2000 Annual Funding Status Report (3) - Exhibit B of APS 2000 Annual Funding Status Report (4) - Section 2.2.2 of SRP 2000 Annual Funding Status Report (5) - Section 2.2 of EPE 2000 Annual Funding Status Report (6) - Section 2.2.2 of SCE 2000 Annual Funding Status Report - Note: SCE accumulates funds based upon cost estimates that exceed the amounts noted above due to SCE judgments with respect to contingency factors and a scope of work beyond the scope of work assumed in the 1998 TLG study. In addition, its funding levels are also affected by assumptions regarding decommissioning cost escalation and trust fund earnings.

(7) - Section 2.2.1 of PNM 2000 Annual Funding Status Report (8) - Section 2.2.1 of SCPPA 2000 Annual Funding Status Report (9) - Section 2.2.1 of LADWP 2000 Annual Funding Status Report PJH 3/20101 6014F Years To End Of Operating U*mL (12/9/2025) 25 25 25 25 25 25 25 2

KCM - Appond~es w APS 2001 50.7544Re~t

Dektedper APS Letter 102-04823, datedAugust 1, 2002 COIUFIBDENTIML lreFRmATior 10 eFR 2.7901 Palo Verde Nuclear Generating Station Unit 3

($M)

Appendix A, Tab 3 PM~artcpat Total (1)

Site Specific Fqtimate Arizona Public Service Company Salt River Project Agricultural Improvement and Power District El Paso Electric Company Southern California Edison Company Public Service Company of New Mexico Southern California Public Power Authority Los Angeles Department of Water and Power 29.10 %

17.49 %

15.80%

15.80 %

10.20 %

5.91 %

5.70 %

TOTAL 100.00 %

NRC (1)

Basic Radiological Fsimate 183.65 110.38 99.71 99.71 64.37 37.30 35.97 141.35 84.95 76.75 76.75 49.54 28.71 27.69 631.10 Total Nuclear Decommissioning Trmt (As of 12131/00) 60.71 (3) 41.08 (4) 17.68 (5) 166.63 (6) 18.33 (7) 30.12 (8) 26.23 (9) 485.73 360.78 Fiscal (2)

Year 2000 r-ortribtion 3.67 1.39 1.70 4.66 0.8 2.88 0.00 4

15.00 (1) - Decommissioning Cost Study for PVNGS, prepared by TLG Services, Inc. (December, 1998)

(2) - Section 2.4 of 2000 Annual Funding Status Reports (3) - Exhibit B of APS 2000 Annual Funding Status Report (4) - Section 2.2.2 of SRP 2000 Annual Funding Status Report (5) - Section 2.2 of EPE 2000 Annual Funding Status Report (6) - Section 2.2.2 of SCE 2000 Annual Funding Status Report - Note: SCE accumulates funds based upon cost estimates that exceed the amounts noted above due to SCE judgments with respect to contingency factors and a scope of work beyond the scope of work assumed in the 1998 TLG study. In addition, its funding levels are also affected by assumptions regarding decommissioning cost escalation and trust fund earnings.

(7) - Section 2.2.1 of PNM 2000 Annual Funding Status Report (8) - Sectio PNM's funding requirements under the Participation Agreement.

(9) - Section 2.2.1 of LADWP 2000 Annual Funding Status Report f

KCM - Appemndion to APS 2001 W0.75111 R~xwt Years To End Of Operating Licnse (3/25/2027) 26 26 26 26 26 26 26

% Ownershi PJH 31/2=/1

Palo Verde Nuclear Generating Station Units 1, 2, & 3 APS 2000 Annual Funding Status Report Section 2.1.7 [Restated]

Assumptions used in developing committed Accumulations: (See Exhibit E - Funding Tables and Curves, attached)

PJH 3162001 Appendix B, Tab I 1570074

ARIZONA PUBLIC SERVICE COMPANY ANNUAL FUNDING STATUS REPORT FOR THE YEAR ENDING DECEMBER 31.2000 EXHIBIT E Assumptions used by APS in Decommissioning Funding Tables and Curves Decommissioning Costs:

Funding Curve applied to Official 1998 TLG Study Costs Escalation Factor and Future Value of Decommissioning Costs:

Escalation factor of 5.00% Annually After Tax Rate of Return For Assets In Trust:

Annual Rate of Return Is 6.75%

Contribution Assumptions:

All contributions made quarterly w EXcavELWE80lEsR0 2A"1

ESTIMATED ANNUAL COSTS UNIT ONE Py 0648.9 7

a I05 YVON FV Defm gS. PV Limb to"6 0

167272 lpow 1

170.366.5m6 2(W0 2

175.06.33 20l 3

W0.831.26 2002 4

197.222A&64 2M0 5

201.161069 2004 6

217.435.18S 20M 7

220.310005 20os a

M20725.590 2067 0

251.711.679 2000 10 M6.297.013 200 I 1 217.602.24?

2040 12 201.3B7.064 2011 13 305.957.3U2 2012 14 321.Z23,22 2013 is 327.31?.M6 2014 16 354.141.06 2015 17 371.03.091 201 1s M.0487.741 2017 1s 410.012.129 2010 20 430.512.134 2019 21 452,030.371 2020 22 474.640.200 2021 22 4063212304 202 24 523.290.21 2023 25 540.455.405 2024 20 1200957 516092.220 202 27 90.430.146 005.647.146 2020 20 00.343.=2 574.578.37S 2027 20 104.423.640 515.646.199 2020 20 I05.030.072 435.340.518 2=2 31 106.130.050 24.72021 2020 32 143.644.012 255.316.516 2031 33 066357.646 143,819.030 2032 34 12.710.5m6 01.624,125 2022 25 15.407.20 82.020.329 "22 36 24.365.758 60.943.066 2035 27 20.5t41420 47.850.021 202036 3

.031.641 322400.200 2037 20 20.451.462 280.11.443 729.705.366 20.495.072 21.519.62n 22.50511 22.725.00 24.615.96 36,157,462 27.405.35 29.63.624 30.25005" 3S.063.526 38.646.516 40,57*.M4 42M67,702 44.7561I1 46,075.00 "4.32=113 55.71.026 54,376627 57.66.503 62A55.100

".0403.506 72.073.767 70.517.455 00.343.326 25.23""1 "2.637.757 27.929.640 29.3m.,127 30.036.534 32.3711.351 33.967.279 3656.51.42 37,462.2 2931056.100 41.323.103 43,320.100 45.559.24 47.937.666 50.229.464 52.740.627 55*577,04 66.146164 61.04.22 6410.50n.2 67.312.206 70.177,50 74.211.1166 "Jam3230 611.16.00 86.1009.430 90.204.901 94.755.146 004660104 104.423.449 24.302.516 25.517602 20.M9.524 28.1332W0 211536.1460 31.016653 32.56766 34.196.0m 36.905.64 31'.701.1711 32.5N.237 41.10.549 43.643.62 46.620.0111 45117.3t9 00.523 16 53.4.344 55.701.811 11,46.611102 61.411,241 64.4619W 67.o. oc ri061.105 74,645,75S 76.376.042 62.66644 U.411.792 90,F2.301 66.26.006 100.022,450 105.034.073 23629466 25,020,940 20.271.566 27.56550 30.413.100 31.9332.M6 33.5W.452 35,206.075 35.967.322 39.915.666 40.7566474 42.76426 44.11MA12 4?.100.713 49.526.746 5L2.016.720 564617.572 57.346.452 00.215074 63.226.668 661.310.001 "56707.401 73.152.772 76652410 0065.021 114.J29.182 60906271 93A 14,585 W6.085.314 102.M0.580 tOG,139.059 23.526.46 25.020.640 20.271.9" 27.M.550 26.114.065 30.413.108 31W.M3.6 33.&V0.452 20.20617 36.987,U23 20.815160 40.766.474 42.70C29 44.334.013 47.100.713 46.520.740 52AI.31672 54.617.573 57.346.452 60.215.674 632226.66 66.M6.001 56.707.401 73.102-772 76.69W.410 80.6105.031 94.7211.73

$8.066.271 52,414165 06ý.30.14 102.66616 146,138.059 113.54.012 11.264.406 11.627.637 12.416.006 13.036.956 1.6091.101 14.370.554 05.036.362 15.850.151 16.642.658 17.474.791 16.346.531 N0.M6.57 20.229.255 21.240716 23.302.754 23.417,022 24566766 HAMM22 27.106.137 20.464,564 29.667.623 31,362.215 32.W15.325 34.506.62 6326.626A 20.145.276 40.052.542 42.055.156 44.157.327 46.365,824 49666.115 51.115.321 53.674.237 56.257.64, 2.611.580 2.742.156 2A79.366 3.023.230 3.174.391 3.333.111 3.41007611 3.674.755 3.866.492 4.061.417 4.253.M0 4.466167 4.660.022 4.224V32 5.170.740 5.42.266 5,700.751 5.669.110 6266077 6.50032 6323200 7 275763M 7.639.551 6.021.520 6.422.606 6.643.136

.26.022 9.150.218 10.231.7M0 10.749.6%5 11.297.016 11.951.451 12,444.023 13,4146,225 13.719.5M6 10 11 12 13 14 34.010 15.650.417 35.719 16,432$37 37.105 11.264."64 36.340 16.117.313 41.343 111.02n.179 43.416 59.174.338 45.567 20.273.055 47.667 22,021.705 50260 23.122.793 52.773 24.279.633 55,412 25.492.79

"'In6 26.767A53 41.001 2M.10.00 64.146 20.55 5.164 67.34 30.09.M5 10.721 321538092 74.267 34,102.666 "7.370 35.871.041 5.1066 37.664.53 66.66 26.647122 10.260 41.525.214 94.773 43.601,47S 6.511 457?61.549 104.67 CO0062 106.711 50.474,157 115.597 536107.665 120.057 55.607756 56.420.146 2.79.162 2.W3.1152 3.233.470 3m26.143 3.43.14S 4.126.110 4.333.156 4.540.656 4.777.307 5.016.173 S53.336011 5.020.220 6.722.151

?.On6.=5 7.41f.172 7.716.720 4.1111,91?

6.579.357 9.006.325 5,45S.742 9,3.62197 10.426=6 10.940.674 11.497.15 12.012.017 12.675.618 13.309.360 13.074.066 14,673.132 15.407.223 4.206.930 4,417.21's 4.6m6.136 4.670.046 5.113.646 6.2637.107 5.319.571 6.215.550 6M65644 7.516,216 7.932,70 8,M3.431

&.745.902 6.103.196 9.64.366 10.124.479 11.120.364 12.=39634 12.921.U02 13.567.76 14.M4.154 14.11M.4412 15.70.305 16.491.7104 17,316.265 16.t62,104 20,045.760 21.048,056 22.100460 233206464 24.3651756 4.577.11M 5,047.205 5.210.566

&.54.544 6.042.771 6.134.910 6.441.655 61.763.7301 7.101.925 7.A57MI2 7.636.672 9.221.306 6.632.34 9.064oK 0.517.2511 3.103.111 10,4U2.77?

11.017,4 16 11.366.2 12.146.701 17.754.03 122091.736 14.001.325 14.7P4.391 i5.502.111 to.777.742 17.005.029 17.946.210 18.143MI2 I9SM76907 2077Y4551 25 12 72.0 22.104,411 24.04.6620 35.252.120 26.5 14.726 462.116 4Z506.0 sm.1.70 566,052 W11,052 se5.25 116.15.5 G"6.316 678.2316 7476431 7652263 786.237 665.472 moS,2 OMAN46 95.062"I 1052002,8 1,0.106 1.1001950 1.2116.157 1.210.165 1.219.065 1.343.016 1.060.106 1.54"A12 1.632.441 1.7 14.070 1.739.?73 1.984.M0 2.062.462 2.167.6m6 2.291.017 2.411.0"6 2532.462 2.702.06%

a.931.641 FILENAWE W'EXCEl.M 026C66AFSR4XHHSTE 3264pI 3.202901W 3,362940 3.531.093 2.101.646 3.603.030 4.0110 62 4.M9.096 4.50156160 4.7322003 4.906,603 5.217.023 5.477.665 5.751.770 6.036.3U6 11,341.1%6 66456462 0.991.323 7.340.466 7.707.034 8.003.330 6,407.997 0,922.097 9.310.042 9.837.464 10.320.360 106456837 lt.W6.126 11,957.535 12.565,412 13.183.102 13.643,341 14.524.450 15,261.161 160124.241 16.425.453 17A6672S 18.650,061 50 477,565s 20.451.443 I 0676 520.057 34.016 54.725560 15.656.417 7050404 26,4105072 65640322 250366292 6069113.2615 24.302.516 76006 22 2236466" 76.720.891 23.2626460 25676.315 11.264.400 6.66.36 2.611 W.0 3,152,295 2.763.103 15424.274 4.20.929 16.764.637 4.356.96 1.655.619 459.110 12,946.392 3.050.291 557.579.600

Arizona Public Service Decommissioning Funding Plan PV Unit #1 120%

100%

80%

60%

IL 40%

20%

0%

1 1

1 2

2 2

9 9

9 0

0 0

9 9

9 0

0 0

1 1

1 2

2 2

3 3

1 3

5 7

9 1

3 5

7 9

1 3

5 7

9 1

3 5

7 9

1 3

5 7

Funded Curv-Year Flo

_Au

--+- FundedCurve.... _FundedFloor

Actual.

FiENAME W EXCELtECOM& AFSAO*OEXHtOBIE 211 0 ii.

ESTIMATED ANNUAL COSTS UNIT TWO PV Dooms yow FV D68mS Sep. PV Limb oasi76 17.025.753 4.540.310 86.020.744 24,214.228 05.889.944 23,717.810 96.189.888 23.680*21 02.044.033 23,477.404 so0689.048 23.477.414 86,430.487 79.528.754 35,116.803 10,56".488 11,462.83S 3.504.266 16691,S45 4.0618104 10.21."18 4.682.40f 1.136.472 458.101 12.127.788 3.080.281 602.017.525 1081

29B 0

2000 2

2001 3

2002 4

am0 5

2004 6

"M00 I 200 8

200Y 9

2006 10 2M0 11 3010 12 2011 13 2012 14 2013 IS 2014 1e 2015 Il?

2016 1S 2017 19 2011 20 2016 21 2020 22 3021 23 2022 24 202 28 2024 26 2028 27 17?.023.752 20(W 28 84.822*694 2027 20 87.625.20 2=18 30 102.260.7M 3M2 31 1086.41.434 326 32 111.988.505 2031 32 102.744.247 2032 34 55.472084 2033 36 t8,32.145 2034 16 25.494.152 2025 37

20. 197. 189 2616 6 3

,82.91.84 2037 39 20.451.443 787.987.184 170.001.839 S17.341,831 1110.309.021 107.724.472 20780.4102 247.991.238 240325240 2U.52 32107 264.960.717 216.216.188 292,129.101 8w.735.562 222.072.341 355.064.756 301.480.943 411.054.991 411.607,740 453.180.127 478847.534 1488.M2.910 W24.121.906 5".453.001 807,315.434 637.681.M5 651.11".225 584*02.507 511.326.771 4202362.714 338.141340 238.470.847 1423512.720 81.12.088 75.4068.001 48.816.270 32,408.208 20.451,443 0

0 0

0 4,560.318 4.788.335 5.827.762 5.278.140 5.643.086 S.830251 6.111,264 6.418*27 6.737.868 7.074.552 7.429.2YS 7.78.693 8,189.876 8.5911,162 8.028,120 9.490.576 9.954.608 10.452.335 10.974.952 11.523,599 12,090.884 12.704,979 13,340.123 14.007.

129 t4,101,485 15.442A85 1#.215.002 11.025.7s3 24.214.226 25.424.938 26*88186 26.030.n84 20.432.b44 208104.171 32.4410.279 34.0?1.648 36.775.441 37.54,4213 36.442.423 41.414A844 4X4456272 45.856.535 47942,512 50.329.86m 52.13*18 W404.4540 "5.274.423 81188.144 64.247.551 67.456*28 70.10M.1125 14.374.572 70.03.1600 a1.867.865 86.097.653 90.402.767 94*2.684" 23.717.410 24."03.70 26.14@.M8 21.456.329 28.82.148 30.2M0.00 31.184.133 33.373.340 36.042.007 39.7104.107 286.33A12 40.85.8023 42=8.778 44.n23.4@7 46,959.640 48.30.423

$1.7n3.004 54.301.845 57.079.Y37 59,*32.723 92M3.4 t0 88076.6.30 08,300.716 72,846*15s 78.492.306 00.316.221 84,332.787 W8.549.406 92.878.878 97.625.720 5

8 7

8 8

tO II 12 13 14 3.504.268 4.918.104 4628.818 438.111 3050.281 23.680.621 34*75.487 26.118.241 27.425.203 n.796.463 30.26.288 31.745,100 32.226.60S 35.002.2410 36.782,394 38M8.014 40.519.515 42.545.491 44,873.78 41.905.403 49.251.723 811714.310 64.300A026 57,018.026 50.865776 62.869.067 68.002.020 08.302.121 72.787227 16.405.588 60.226.888 84.237.161 "8.449.012 92,81t.470 97.515.044 102.390.790 23.477.414 24.651.28 250.11 48 27.1111042 21.538.844 29*63.781 31041.8011 33.035.910 34.88834 38.421.175 36.242.234 40.154.348 42.162.062 "44270. 1" 48.483.*75 48.807.80 51.248.281 GZ*10684 56.501,191 60.326.257 82.292.570 G85407.188 96.677.556 72.1tt.436 75.717.00 78.802*8 83.475.01 91.65f.901 92,034.498 88*6221."

MAN.=8.3 106.541.434 23.477.414 20.535.754 10.155.488 24.881.265 21.552.641 11.087.462 25.882.848 22.640.165 1 1.84 1.W3 27.1 78.042 23.772.702 12.223.1127 28.538.844 24.981.337 t2.805.124 2.0.83.791 28.209.404 12.478.880 31.481.881 27.518.874 14,t90.Y24 33A035.080 20*66*

14.85.260 34.88.834 30.340.861 15.601.172 31.421.175 31.057*844 10.391.232 30.242.234 33.480.676 l7.20028 40.iS4.346 38.A23.108 16.080.306 42.182.063 36.678282 18.982.223 "44.7018 20.72.226 19.211.409 46.4403678 40.85W.30? 20.807,084 4B*07.88 42.882.357 21.852 41 51246.281 44A826.976 230800236 10,010.4414 47.088.223 24.202.540 56.501.167 49.421.740 25.412.887 88.328.257 51.862.82 206U3.300 82.28.570 54.487.460 28.017.465 65.W0.188 57.211.641 20.418.328 86.877.88 00.072.432 30.806.25 72.111.426 63.078.065 32.433.718 78.717,086 86220*A8 34.065.404 76.602.88 68.541.25t 35.788.174 63.478.001 73.018.4*8 27.548.083 S7*81.801 7689.M233 16.42&3367 92.634.486 86.602*

41.304 56W 86*26.22 80.57.9461 43.484.284 101.488.032 88.754.344 4S.627.488 106.841.434 62.182.061 4.1.9,8373 11*66.808 117.951.1414 50.315.342 102.144.247 52A31.106 55.472,664 FILENAME W EXCELID8ECOMWAFSl400TXlSIlE 281"11 3.%0.386 3.612.586 4.050.743 4.472.11W) 4J30.897 5.177087 5.436.424 5.708.24 G.28.341 0.0w.an 6.316.408 7.28.326 6.433.678 4.465.m6 8.288.10 9.710.031 10.251.100 10.743.744 11.30I.826 1.W8.022 12.480.354 t3.082.402 W3.73.573 14.424.452 15.145.674 15.9w088 16.6"6.106 17.532.811 18.408.02 11.330.145 5.164.0w 5.422.206 5.683220 6.500.728 6.620.306 7268278 8.011.013 4.411.826 8.632.2140 9.2T3.618 14.224.M8 S0.735*04 11.272,W8 11.830.003 12.427.803 03.048.163 13.701*53 14,3=,78.2 15.100.072 15.891.376 17.487.te7 18.341.5n5 18.272.802 20.243,562 21258.78 22.318.549 23.434.476 24.808.200 25.83B.510 27.126.336 28.484.752 4.888.480 U.11,6713 5.367.487 5.816.80" 5.917.832 6.213.913 4.524.1H8 6.850.3941 7.192,919 7.552.554 7.930.163 0.32&70 8.743.037 11.1110.1401 10.121,150 10.621.211 11.158.577 11.718.504 12.302.332 12.917.448 1&.543.321 14.241.467 14,802*61 t5,701.216 16.486.301 17JI.216*

19.116.147 111.0"4.254 20.039.202 21.041.162 22.083.220 22.197.881 24,357.775 25.575,654 26854447 26197.169 462.004 5016.170 531.479 556,052 585.855 615.2S2 848015 618.316 M1.231 741.642 746.238.

824.497 1415.122 8w 543A 854.458 1.002.tal 1.052.290 1.1048103 1.180150 1.21&057 1.2T9.065 1.343.018 1.410.169 1.4806187 I.W5.712 1.632.447 1.714,010 1)85.773 1.049.7412 18984.2w5 2.083.462 2.181.163 2.297.017 2.411.088 2.532.482 2.659.0M 2.792.039 2.931,641 2.202.8&A 3.3628945 3.531.093 3.707.648 288.020W 4.202.066 472205366 5,217,023 5.471.806 6.03.3146 0.341.316 6.6W8.403 6.811.323 7.340.889 7.707.934 0.083.330 8.487,867

$822097 8160042?

8.831.484 10.29.026 10.64S.837 11.300.129 11.857.515 12,555.412 13.183,182 13.542.341 14.534.459 11201.181 16.024.241 16.1125.053 17.640.72S 141.5850.01 19,471.585 30.451.442 2

Arizona Public Service Decommissioning Funding Plan PV Unit #2 120%

100%

80%

4)

"10 "c 60%

LL

-0 40%

20%

0%

1 1

1 2

2 2

9 9

9 0

0 0

9 9

9 0

0 0

1 1

1 2

2 2

3 3

1 3

5 7

9 13 5

7 9

1 3

5 7

9 1

3 5

7 9

1 3

5 7

_u-___Year

--+- Funded Curve --

Funded Floor S Actuai FXENAME W EXCEIAECOAJAPAFSRO6&H"TE ZMs41

ESTIMATED ANNUAL COSTS UNIT THREE t.05 N 006.r vowr FV 001" Sum PV Limb 2

4 5

I a

1 30 13 32 32.867.225 3.236066 32.466796 3.236566 77,347.515 20005.707 002070943 23,70606 00033001 23.276.770 6053303136 23255063 73.276365 20.303.332 72.273040 30.356306 73200367 20,436.435 40.263336 133475.366 33,464.2S7 6.724.635 1.130.472 4W.,331 12.12Y.Iu 3.000.293 673.004.614

.*36649.221.

3lo6 0

366 1

2006 2

2001 3

PM0 4

2003 5

2m0 6

2606 2006 2067 6

2m6 30 2009 11 2010 32 2033 133 2012 34 2013 IS 2034 36 2036 37 3036 36 2037 19 2036 30 3016 23 3030 22 202 23 2022 24 202 as 2024 36 2025 27 32.063.706 3026 20 32665.70 2027 20 62.566.473 2020 35 362.64.06 2020 3t 30.65.9m,01 3030 32 330.006.72 2033 33 101.581.3N6 2032 34 106.94.409 203 35 20 132317.256 2034 36 76.041.033 2035 37 53.050.362 2036 30 2.633.643 2037 39 30,453.44 902.266.016 10633.64122 20k2.473.272 232.566.026 223.2M.703 234.366.122 246.107.5n0 271.333.950 214.900.226 3 34.362.503 3,2W00763 363.612,908 400.803.231 420.027.3N2 441.073.762 464.072,450 467276.073 637.2213878 064.062.663 621.9013467 652.066.514 U5.4.3682 707.342.003 726.284.662 619.062.303 524.346.163 434.214,325 3409264.574 254.433 64 346.206,376 74.40I320 22.400.m0 20.451.3.4 3.23.00 3.=3.M0 3.397*0 2.W756 3.567.762 3,5567,762 3.746.310 3.746.160 3.633.460 3.09".452 4.130.1331 4.130.131 4.X3263 4226.637 4,553.480 4.563.466 4.791,143 4.781.143

&.020.=0 SAoM.2 6.127320 5,2?13230 6.534770 5,534,770 6.30.06 6,3.0,04

&.407.1110 6.407.366 9.727,146 M.71.48 7A.0633

?".96.25 7,437.323 7,411.121 7.707.977 7T.07,77 9,377.379 6.377.370 8,5N.245 1,506245 9.0365157 6*36.567 046.4365 6.406.33 6.9396*52 9.936.652 30.430.636 10.439.635 30.606466 10.958.456 13.Wm30 11.506.38 12.061.70 12.063,706 12.065.M0 30.666.107 23*62.66

".2 1.627 23.223,630 25.9013.34 26AN3.026 26.230*32 20.637.323 32.675. 34 54.306.006 37.625.566 36.736AS7 41.702.00 43,767*64 45.077236 46.276.016 03.224.374 55.66666 W56.60672 67.020.20 92,560.472 23.706.006 22.276.770 24,9.80160 24.440AM0 26.237,403 26.663.63 27.540.271 26.9451773 24,2.735s 28.30.050 30.373.073 20.707.732 3361,726 31.103.060 33.4M6.312 W2.52.753 35.606.627 34.360.360 36.636.650 36.300.910 26,764,56 37.035.466 40M.102.63 3003,37.16 4273.0629 43013734 44A74.00 43*3023Z 47.136.603 4WOL4432 04674.633 48.360.732 14.545.672 53W.35.6 61.272.651 56.018.322 60.1336.604 56.239.27A 63,343,435 63.760.35 06..3006 04.06.210 06.635.637 60.00.623 73.066.416 73.495.362 76,7513236 750n9 60.666.60 70.62.406 64,636.243 63,764,576 03.203.611 63.247.044 67,K66.362 95.810.341 302.004.003 WOOD.=6.1 305.630.900 23.255.003 24,411.M5 26.6m6.813 36.0MA36.

30.26.602 2909.9n03 33.36&.02 32.722.125 34,356.231 36.076.342 37.679.610 38,773.647 43.76.644 43.66.777 "46.04336 46345403 60.76.M0 5X3O.3003 "Amon003 so.76235 63.702446 14.76756 06.0m6.947 73.40.26 34,9.m6.0 76.142.6M 63,07.3170 66.53.53 03.362.635 95.M2.746 305006.703~

W0.=32122 MACY0672 20,303=33 22.384.433 23.503.045 34.076,627

.25.632.766 27.206407 20.067.20 33.407.132 33.071.961 24.73.560 36.48S.07 36.214.

40.306'm 44236.62 46.53.606 49062269 53.070.714 U56.64.=32 6222.3.166 66.460275 77,102.063 70.591A03 07.740.63 303.561.306 20.356.156 20.4304.3 13.475.355 V.24An3 450 333 3.050.703 213,76 04 23 431.2 14.149.165 0.363.563 462.006 3.202.00 22.445667 22.156.007 14.8m6.923 9.630.334 006.370 3.342.40 23.56Y.111 23.6M4.562 I5,06.464 30.300.00 631.409 3,531.003 24.745.466 24.8463" 16.370.427 30.006.03 556.052 V707.648 25&06.740 20.067.000 37.3.260 33.135.327 566.955 3,602.02 27.281A77 27.356040I 16.056.3186 3.062.004 615.252 4.067.612 26.045670o 26.737.045 30 132 2,276.066 646.03 4.m0.0611 30.07I.20 301604.343 30.9.00,0 12.M00533 070.336 4.906.060 231.562.3 33.072.60 30.904.763 33.53S.06 732.231 4.732.003 23.363.203 33.261.1860 21.40.906 14.211.413 747.643 4.666602 34,810.356 34.916.067 23,041.406 3462.403 766.235 5.21Y.033 26.600.524 36.054A647 24.306.874 36.60.624 624.401 5AI.4776 38.360.3"0 36.460,104 25.406.667 36.453.06 065.7n2 5.753.779 40.307.757 40.423.104 26*6.263 2714MI4 906.001 6.036.36 42.323.t46 42.444.M5 2834.3"6 0.1362675 954.456 6.231.336 44.439.302 44.564,472 21.41S.086 36.045.360 1.002.363 6.661.403 40603.36 46.6470 30,M0.853 10.007.446 3.052.0 6693.323 48.w6.333 49.134.536 32.430.14S 26.07.320 1.104.900 7.240.060 53.444,047 63.561.26 24.063.905 22.047.31" 3.360.350 7.7076234 04.036349 54,310.8n6 35.764.236 23.340.545 1.218.157 6.062.330 56.71Y.062 56.570.367 37.543.047 24.307.023 3.270 065 8.407.697 "A0.62.115 59.723.335 36.419.044 25.522.374

.3.43.036 6.622.867 62.530.63 62.700.50 43.366.06 2M.70403 3.430.360 9.3609042 65.057,00 65.644.677 43.406.406 26.132.417 3.406.676 0.631.404 0

N.0436,4 6 337.226 45,632.471 26.$45.336 1.0.3 0.320.366 72.306.640 72.564.06 47.034,06 31.022.605 3.632.441 10,b45.837 76.000.267 70.2376 10.300.75 32.572.735 1.114.00 11.366.129 70..90002 60.024.063 62.65.6 34.292.4122 3.70.77 11.95Y.535 63.70.032 64.02.730 5406.604 35.912.543 3.060762 12,555.432 67..66776 66.23.667 59.226.602 37.706.370 3.064.250 13.163.182 62.366337 52.60.465 61.1613270 36.503.570 2.063.402 13.042.341 07.005.423 07.303.02 14.206.460 41.573.2M 2.107.636 KO.NA 45 I301.66.64 102.14T.371 60.416.143 43.663.930 2.207.017 35.263.303 306,046,470 107.20453 70.70.040 45.634.516 2.43 3.64 36,024.243 332.637,250 74.330.407 46.31n.242 2.532.463 16.525.453 70.047,033 60.532.50 2.6505M5 I31.666.72S DO,0NAU0 2.792.039 305S50.063 2.231.643 19.477.565 20433l 442 FO.E#AIE: W EXCELMECOMWArsIm&OEXHmBITE 211433 33 14

Arizona Public Service Decommissioning Funding Plan PV Unit #3 120%

100%

80%

"10

" 60%

LL 40%

20%

0%

1 1 1

1 1

2 2

2 9

9 9

0 0

0

,0 0

0 0

9 9

9 0

0 0

1 1

1 2

2 2

3 3

1 3

5 7

9 1

3 5

7 9

1 3

5 7

9 1

3 5

7 9

1 3

5 7

Year L - Funded Floor

Actual FILENAME W EXCEL[)ECOAMIAFSRLOX EXP*ITE 2/1"1

Arizona Public Service Decommissioning Funding Plan Palo Verde Units 1, 2, & 3 120%

100%

80%

()

"60%

LL 0-0 40%

20%

0%

1 1

1 2

2 2

9 9

9 0

0 0

9 9

9 0

0 0

1 1

1 2

2 2

3 3

1 3

5 7

9 1

3 5

7 9

1 3

5 7

9 1

3 5

7 9

1 3

5 7

Year

[--+-- Funding Curve -.. Funding Floor

Actual (1998 TLG Study)

FItENAME W EXCEI,DECOMWAFrSROWIoxHITE 2JI/OI

Palo Verde Nuclear Generating Station Appendix B, Tab 2 Units 1, 2, & 3 SRP 2000 Annual Funding Status Report Section 2.1.7 [Restated]

Summary of Assumptions

>Investment Return Assumption:

7.65%

>Inflation/Escalation Assumption:

5.92%

>1998 Cost Study, Including 25% Contingency 1570074 PJH 31//2001

SALT RIVER PROJECT NUCLEAR DECOMMISSIONING TRUST At Participonts Decorn Costs in 1998$

$56&640 SRP Share in 1998S S97,356 Plan Balance as of 12/31198 in 1998S S34.354 FV of Total Decom. Charges Discounted to 2024

$434,302 FV of 12/31/98 Plan Balance in 24 year S136.5 FV of Balance Owed to be Funded by Contributions and Earnings S27 70 Calender Years Since Year End 1987 1988 1989 1990 1991 1 092 1993 1994 A

C T

U A

L F

0 R

E C

A S

T SRP Share 17.49%

Projected return on investments 765%

Projected Inflation 5.92%

Years To Start of Decom (Funding Yrs Left) 24 Current Balance Annual Before Decom Termination Payment Earnings Decorn Charges Ending Costs Funded (Inflat4-Oain Acl rgC (tnftAdf.

Balncea nflatAl-U Rabg 721 960 805 841 1.746 1.107 1842 2.360 1,775 1.292 1.369 1,450 1.267 1,223 1.517 1.607 1.702 1,803 1,909 2022 2.142 2.269 2.403 2.546 Z 696 2.856 3.025 3.204 3.394 3.596 3.807 4033 4271 4524 4A792 5.076 5&376 5.695 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 amGI 26 31 135 499 280 462 313 69 3.317 2 752 4.881 5.318 4.915 (1019) 3.117 3.471 3.860 4.285 4.751 5.260 5.817 6.426 7,091 7,818 8&610 9.475 10,419 11.447 12.568

13. 789 15,119 16,567 18,143 19,857 21,723

23. 751 25.956 2&353 29,567 266740 18.058 12.923 7,010 4.090 3.554 2.866 LIM 747 1.738 2678 4.018 6.044 7,617 9,772 12.201 17,292 21,336 27.586 34.354 4Q536 40,740 45.374 50.451 566013 62,100 6&761 766043 840O03 92.696 102192 112.556 123.862 136.194 149,637 164.288 180,250 197.634 216,560 237.160 259,574 283&956 310Q471 339.298 370,630 404.678 435&38 416.064 3766288 318.062 254106 181.851 9&640 57.567 50.018 40.317 121.11 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 91 49.041 66,517 8*829 82,014 85.178 90.221 45,173 11.093 12,567 20,048

?22 M0 747 1.738 2678 43.630 4.018 44,983 6&044 47,646 7,617 79,718 9,772 84,438 12,201 89.436 17.292 94.731 21.336 100,339 27,586 106,279 34.354 97,356 40536 103,120 40X740 109.225 45.374 115.691 50,451 122.540 56.013 129,794 62.100 137.478 68.761 145.616 76.043 154.237 84,003 163.368 92.698 173.039 102.192 183.283 112.556 194,133 123,862 205.626 136.194 217.799 149.637 230.693 164.288 244.350 180.250 25&815 197.634 274,137 216.560 290.366 237,160 307,556 259,574 325.763 283,966 345.048 310,471 365.475 339.296 387.111 370,630 410Q028 404.587 434.211 386.497 410.876 349,548 36&683 295.459 309,680 236,048 245.999 168.928 175,384 91,630 9&,546 53.467 56.030 46.464 48.254 37.451 38.543 20,269 20.1777 am Q

oQM 6.14%

8.93%

12.68%

9.56%

11.57%

13.64%

18.25%

21.26%

25.96%

35.29%

39.31%

37.30%

39.22%

41.17%

43.16%

45.17%

47.22%

49.30%

51.42%

53.57%

55.76%

57.98%

60.24%

62.53%

64.86%

67.23%

69.64%

72.09%

74.58%

77.11%

79.68%

82.29%

84.95%

87.66%

90.39%

93.18%

94.07%

94.81%

95.41%

95.95%

96.32%

95.90%

95.43%

96.29%

97.17%

97.55%

i 00 00%

1996 1997 1999 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2=*

2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035

. FUNDING FLOOR ANALYSIS FOR UNIT 1 ($UNG'sR IEVtIMATED FUNDING IFUNDING FLOOR CURVE Ending Fund Baxce EIL-Cost

%I~n 47,646 12.74%

79.718 9.56%

64.438 11.57%

89.436 13.64%

94.731 15.74%

100.339 21.26%

106.279 25.96%

97,356 35.29%

103,120 39.31%

109.225 37.30%

rnTUAL I

Minimun Minimum MinimLm Floor Bmd Panntag S AMT 2

SAIl Pfli 80.00%

80.00%

115,691 39.22%

122.540 41.17%

129,794 43.16%

137,478 45.17%

145,616 47.22%

154.237 49.30%

163.368 51.42%

173.039 53.57%

183,283 55.76%

194,133 57.98%

205.,626 60.24%

217,799 62.53%

230.693 64.86%

244.350 67.23%

258,815 69,64%

274.137 72.09%

290.366 74.58%

07,.556 77.1 1%

325,763 79.68%

345,048 82.29%

366,475 84.95%

387.111 87.65%

4101028 90.60%

434.211 93.95%

410,876 95.20%

368.683 95.93%

309,680 96.67%

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 80.00%

80.00%

80,00%

81.00%

8200%

83.00%

84.00%

8600%

87.00%

88.00%

89.00%

90.00%

91.00%

92-01%

93.00%

94.00%

95.00%

96.00%

97.00%

98.00%

99.00%

10.00%

100.00%

100.00)%

100.017%

97.35%

97.86%

98.39%

100.00%

10.19%

7.64%

9.26%

10.91%

12.59%

14.30%

16.03%

17.79%

19.58%

21.40%

23.24%

25.12%

27.03%

28.97%

31.33%

33.77%

36.30%

38.91%

41.61%

44.40%

47.27%

50.25%

53.32%

56.48%

59.75%

63.11%

66.58%

70.16%

73.85%

77.64%

81.55%

85.57%

89.69%

93.93%

95.17%

95.91%

96.64%

97.33%

97.85%

98.38%

100.M%

100.I0%

100.00%

4.857 6.090 7.822 9.761 11.927 14,344 17,034 17.318 20.188 23t370 23.370 26.891 30.785 35,085 39,8W0 45.623 52.O89 59.298 67,326 76.258 86,186 97,209 109.439 122.997 138.014 154635 173.019 193.339 215,784 240.561 267.895 298.035 331,250 367.743 407.864 391,039 353.604 299.270 239,430 171,613 93.998 566030 48,254 38.543 20.777 0.00 12.68%

6.044 9.56%

7,617 11.58%

9.772 13.64%

12201 18.25%

17.292 21.26%

21.336 25.96%

27.586 35.29%

34,384 39.31%

40,536 37.30%

40,740 39.22%

45.374 YES YES YES Y=r 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 6.071 7.617 9.772 12201 14.909 21.336 27.586 34.354 40,536 40.740 45&374 501451 56.013 62.100 68.761 76.043 84.003 9Z698 102.192 112.556 123,862 136.194 149,637 164.288 180.250 197,634 216.560 237.160 259.574 283,956 310.471 339,296 370.630 404.587 386,497 349,548 2956459 2366048

.245,999 168&928 17),384 91,630 95,546 53.467 56.030 46,464 48.254 37.451 38X543 20.269 20.777 0.00 0.00

1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2006 2007 2008 2009.

2010 2011

2012 2013' 2014 2016 2016 2017

2018 2019 2020.

2021.

2022 2023 2024.

2025 2026 2027 2028 2029 2030 2031 2032 2033 2034.

2035-

A

[tIx

SALT RIVER PROJECT NUCLEAR DECOMMISSIONING TRUST UNIT 2 Al Partlcpants Decorn Costs in 1998S S586.008.5 SRP Share in 1998S S 102.492.9 Plan Bal*nce as of 12/31/98 in 1998M

$32.396.0 FV of Total Decom. Charges Discounted to 2025 S484.282.7 FVof 12/31/98 Plan Balance I 25 years SJI36LA481 FV of Balance Owed to be Funded by Contributions and Earnings 3

Calender Years Since Year End MLIU 31 SRP Share 17 49%

Projected return on investments 7.65%

Projected Inflation 5.92%

Years To Start of Decom (Funding Yrs Lett) 25 Current Balance Annual Before Decom Ternnination Payment Earnings Decorn Charges Ending Costs Wkift Ad-.)

(Infla Ad-Cho 0an= Ado Baknca (nflat Ac Funded R=Q A

C T

U A

L F

0 R

E C

A S

T 1988 1989 1990 1991 1993 1994 1996 1997 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2D32 2033 2034 2035 960 805 841 1.909 1.292 1.761 2.241 1,714 1.379 1,460 1.546 1,452 1,430 1,717 1.819 1.927 2041 2161 2289 2425 2568 2720 2882 3,052 3.233 3.424 3.627 3.842 4069 4,310 4.56W 4.835 5.122 5.425 5,746 6.086 6.446 6.828 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0M0 fIII-0.00 74 343 218 394 281 63 3,042 2537 4.545 4991 4635 (966) 2960 3.339 3.733 4.166 4641 5.162 5.732 6.356 7.038 7,785 8.601 9.492 10.466 11,528 12688 13.952 15.331 16.634 18.471 20.253 22195 24.308 26.607 29,108 31,827 33,442 30,056 264575 2Z492 17.792 12354 6.999 4103 3.210 960 1.839 3.023 5.150 6.839 8,881 11.185 15,940 19.856 25.860 32396 385485 38.949 43.646 48.804 54.464 60.671 67,473 74,924 83,081 101.764 112431 124.084 136,809 150.699 165,855 182384 20(X405 220.046 241,445 264.751 290.126 317,745 347,799 380.492 416.046 454.701 470.598 427.960 373.958 316.500 250.373 173.838 98484 57,734 456178 714 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 17,546 77.704 75&567 83920 88888 81353 44.853

.766 23A437 20.0 613-960 1,839 43.256 3,023 44,597 5.150 47,237 6.839 78.467 8,881 83,112 11,185 88&032 15.940 93.244 19,856 96.764 25.860 104611 32-398 102493 38.485 1081560 38.949 114967 43.646 121,794 48.804 129.005 54,464 136.642 60.671 144,731 67.473 153,299 74,924 162.374 83.081 171.967 92005 182.169 101.764 19Z963 112431 204.376 124,084 216.475 136,809 229,290 150.699 242864 166.855 257,242 182384 272470 200.406 28&601 220,046 305.686 241.445 323.782 264,751 342950 290.126 363.253 317,745 384.758 347. 799 407.535 380.492 431.661 4164046 457.216 437,155 466,737 392894 416.664 "347,383 366.763 294006 307,467 232580 241.749 161.485 167.173 91.485 94,716 53,631 55.470 41,967 42,988 21.741 221096 a=

am 4.25%

6.78%

10.90%

8.72%

10.69%

12.71%

17.10%

20.10%

24.72%

31.61%

35.45%

33.87%

35.84%

37.83%

39.86%

41.92%

44.01%

46.14%

48.31%

50.51%

52.74%

55.01%

57.32%

59.67%

62.05%

64.47%

66.94%

69.44%

71.98%

74.57%

77.20%

79.87%

82.58%

85.34%

88.15%

91.00%

93.66%

94.30%

94.97%

95.62%

96.21%

96.60%

96.59%

96.68%

97.63%

98.39%

I00.00%

FUNDING FLOOR ANALYSIS FOR UNIT 2 ($000's)

ESTIMATED FUNDING Encling Ftund 5.163 6.836 8.887 11.185 13755 19,856 25.860 32-398 38.485 3X,949 43,646 48,804 54,464 60,671 67,473 74,924 83M081 92.0O5 101.764 112,431 124.084 136.809 150,699 165.855 182384 200.405 220.046 241,445 264. 751 290.126 317.745 347.799 380,492 416.046 437.155 392.894 347,383 294.008 232.580 161.485 91,485 53.631 41,967 21.741 (000)

FuNiNG rOO CURVIE E

m nCts

%Euuncl 47.646 78.467 83,112 88,032 93,244 98.764 104.611 102.493 108,5w0 114987 121,794 129,005 136.642 144.731 153,299 162.374 171,987 182-169 192-953 204.376 216.475 229290 242.864 257.242 272.470 288,601 305.686 323,782

42.950 363.253 384,758 407.535 431,661 457.216 466.737 416.664 366,763 307,467 241,749 167,173 94.716 55.470 42.988 21096 0.00 10.93%

8.71%

10.69%

12.71%

14.75%

20.10%

24.72%

31.61%

35.45%

33.87%

35.84%

37.83%

39.86%

41.92%

44.01%

46.14%

48.31%

50.51%

52.74%

55.01%

57.32%

59.67%

62.05%

64.47%

66.94%

69.44%

71.98%

74.57%

77.20%

79.87%

82-58%

85.34%

88.15%

91.09%

93.66%

94.30%

95.26%

96.02%

96.75%

97.45%

100.00%

Minimurn Minimum Minmurn BOW Paa S AMT

r. f.,.i.-. -,

80.00%

8.74%

4A166 80.00%

6.97%

5.469 80.00%

8.55%

7,109 80.00%

10,16%

8.948 80.00%

11.80%

11.004 80.00%

13.46%

13.298 80.00%

15.15%

15.853 80.00%

16.87%

17.294 80.00%

18.62%

20.213 80.00%

20.39%

23.450 80.00%

80.00%

81.00%

82.00%

83.00%

84.00%

85.00%

8&00%

87.00%

88.00%

89.00%

90.00%

91.00%

92.00%

93.00%

94.00%

95.00%

96.00%

97.00%

98.00%

99.00%

100.00%

2120%

22.20%

24.03%

25.89%

27.79%

29.71%

32-06%

34.50%

37.01%

39.62%

42.30%

45.08%

47.95%

50.91%

53.97%

57.12%

60.37%

63.72%

67.18%

70.73%

74.40%

78.18%

820.6%

86.07%

90.16%

92.55%

94.02%

95.24%

96.00%

96.72%

97.40%

97.86%

98.40%

100.00%

YeAM 1991 1992 1993 1994 1995 1996 1997 199%

1999 2000 i

ACTUAL Floor 10.81%

5.150 8.72%

6.839 10.69%

8.881 12.71%

11,185 17.10%

15.940 20.10%

19,856 24.72%

25.860 31.61%

32Z398 "ES 35.45%

38.485

'!-i 33.87%

38,949 YES 27.035 31.001 35.382 40.217 45.548 520.63 59330 67,427 76,439 86,460 97,591 109.945 123.645 138.825 155.632 174.227 194.786 217,502 242.585 270.264 30(X 792 334442 371.515 412.209 431.970 391,744 34&356 29M.167 233.830 162,832 92.686 54,580 42.988 22.096 0.00 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 15, 84%

43,646

`;:.z 2000

.Y,

z -f Ci10 1992 1993 2001 2005 2006 2007 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2=*

2023 2024 2025 2026 2027 2028 2029 2031

2032, 2033 2034 2035.

aR I

SALT lIVER PROJECT NUCLEAR DECOMMISSIONING TRUST All Partcipants Dom Costs in 1998S S63Z975.6 SRPShare in 1998$ SI10.707.4 Plan Balance as of 12/31/98 in 19985

$34,380.0 FV of Total Decomn. Charges Discounted to 2027 S586.864.7 FVof 12/31/98 Plan Balance In 27 years S162 446.

FV of Balance Owed to be Funded by Contributions and Earnings S42&4i..

SRP Share 17 49%

Projected return on investments 7.65%

Projected Inflation 5.92%

Yeas To Start of Decom (Funilng Yrs Left) 27 Cunrent Balance Calender Annual Beform Decom Terr*itnalon Years Since Yea End Payment Earnings Decom Charges Ending Costs Funrded Sh~dy 31Do anflat Ac-flat A&

Ch~s Ufa~8o ans dQgz nflt Ad'-

R~

A C

T U

A L

1988 1989 1990 1991 1993 1994 1996 1997 1999 2000 2001 2*2 2003 2OO4 2005 2006 2007 2007 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 960 805 841 2.154 1.590 1.787 Z290 1,721 1,517 1.606 1,702 1.416 1.391 1,675 1,774 1,879 1,991 2.108 2.233 2.365 2.50 2.654 2.811 Z977 3.153 3.340 3.538 3, 747 3969 4204 4453 4717 4996 56292 56606 5,937 6.288 6.660 7.055 7,472 0.0O 0.00 0.00 0.00 Q.00 0.03 0.00 0.00 0.03 amJ2 0.03 960 74 1.839 343 3.023 218 5.395 413 7,401 304 9.493 67 11,849 3,221 16,791 2.672 20.980 4802 27.388 56289 34.380 4918 40,714 (1,022) 41.083 3.143 45.901 3.511 51.187 3.916 56.982 4359 63,331 4845 70.284 5.377 77,894 5.959 86.219 6,596 95.320 7,292 105,266 8.053 116,129 8.884 127,990 9.791 140.935 10.782 155,056 11,862 170Q456 13.040 187,243 14324 205.537 15.724 2256464 17.248 247,165 18&908 270.790 20.715 296.5M 22.682 324.476 24,822 354.903 27.150 387,990 29.681 423.959 32.433 463.052 35.424 505.531 38.673 551.676 37.314 525.078 34.025 478.791 30.263 425,851 25.842 363.647 21.590 303.817 16.627 233.969 10.872 152.965 6,791 95.560 3.941 56.462

&M 517782 617436 7AZ 1

F 0

R I

C A

S T

0,00 0.00 0.00 0.03 0.00 0.00 0.00 0.00 0.00 0.03 0.03 0.00 0.00 0.00 0.03 0.00 0.03 0.03 0.00 0.0 0.03 0.03 0.00 0.03 0.00 0.0O 0.00 0.00 0.03 0.00 0.03 0.00 0.03 Q003 0.03 Q0.03 0.00 Q00O 63,912 80.312 83.203 88.046 81.421 86.474 91.856 64.216 44.039 7,364 742-65 960 1.839 45,998 3.023 47,424 5.395 50.232 7,401 82.736 9.493 87.634 11,849 92.822 16.791 98,317 20.980 104138 27.388 110.303 34.380 110.707 40.714 117.261 41.083 124.203 45.901 131,556 51,187 139,344 56.982 147.593 63,331 156,331 70.284 165,586 77.894 175.388 86.219 185&771 95&320 196.769 105.265 208.418 116.129 220.756 127.990 233.825 140.935 247.667 155.056 262.329 170Q456 2f7.859 187.243 294308 2066537 311.731 225,464 330,186 247,166 349,733 270M790 370.437 296.502 392.367 324476 415.595 354.903 440.196 387,990 466.258 423.969 493.860 463,052 523,097 505,531 564,064 487,764 522.963 444766 473,600 39&.589 418&434 337.89M 355.160 282.226 294764 217.342 225&740 142.114 147.248 88.769 91,749 51,520Q67 53.142 48.098.35 48,924 am QM om m

4.O3%

6.37%

10.74%

8.95%

10.83%

12.77%

17.08%

20.15%

24.83%

31.05%

34.72%

33.08%

34.89%

36.73%

38.61%

40.51%

42.45%

44.41%

46.41%

48.44%

50.51%

52.61%

54.74%

56.90%

59.11%

61.35%

63.62%

65.93%

68.28%

70.67%

73.10%

75.57%

78.07%

80.62%

83.21%

85.85%

88.52%

91.24%

93.27%

93.91%

94.54%

95.11%

95.75%

96.28%

96.51%

96.75%

96.95%

98.31%

100.00%

FUNDING FLOOR ANALYSIS FOR UNIT 3 ($000s)

ESTIMATED FUNDING FtINDINQ FLOCO CUM Encing Fund Y=

Fit, Cor

% F1uded 1991 1992 1993 1994 1995 1996 1997 1996 1999 2000 2001 2002 2003 2004 2005 2006 2007 2006 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 5,408 7.398 9,498 14.477 20,90 27.388 34.380 40,714 41.083 45,901 51.187 56.982 63.331 70.284 77,894 86.219 95,320 105.266 116.129 127.990 140.935 15&,056 170.456 187,243 205.537 225.464 247,165 270. 790 296.502 324,476 354 903 387,990 423,959 463.052 505M531 487.764 444766 395,589 337.80 282.226 217,342 142.114 88.769 51.521 48,098 0.00 47.646 82 736 87.634 92822 98,317 10 138 110.303 110.707 117.261 124.203 131,556 139,344 147.593 156.331 165,586 176,388 185,771 196,769 208,418 220Q756 233.825 247,667 262.329 277,859 294308 311,731 330.186 349.733 370.437 392.367 415.595 440.196 466258 493.860 523,097 554,064 5

3963 473.600 4184.34 355.160 294 764 22, 740 147.248 91,749 53.142 48.924 0.00 10.93%

8.94%

10.84%

12.77%

14.72%

20.15%

24.83%

31.05%

34.72%

33.08%

34.89%

36.73%

38.61%

40.51%

42.45%

44.41%

46.41%

48.44%

50.51%

52.61%

54.74%

56.90%

59.11%

61.35%

63.62%

65.93%

68.28%

70.67%

73.10%

75.60%

78.59%

81.62%

84.71%

87.82%

89.26%

91.24%

93.27%

93.91%

94.89%

95.76%

100.00%

MinimLu Minimum Minimum Bald PrBLlenQ S AMI 80.00%

8.74%

80.00%

7.15%

80.00%

8.67%

80.00%

10.21%

80.00%

11.78%

80.00%

13.37%

80.00%

14.99%

80.00%

16.64%

80.00%

18.31%

80.00%

20.01%

80.00%

21.73%

80.00%

23.49%

80.00%

25.27%

80.00%

27.09%

80.00%

28.93%

80.00%

30.80%

80.00%

32.71%

81.00%

35.07%

82.00%

37.52%

83.00%

40.06%

84.00%

42.67%

85.00%

45.37%

86.00%

48.16%

87.00%

51.04%

88.00%

54,01%

89.00%

57.07%

90.00%

60.23%

91.00%

63.49%

92.00%

66.84%

93.00%

70.30%

94.00%

73.86%

95.00%

77.53%

96.00%

81.31%

97.00%

85.18%

98.00%

87.46%

99.00%

89.80w%

100.00%

92.14%

100.00%

93.60%

100.00%

9487%

100.00%

95.73%

100.00%

96.46%

100.00%

97.18%

100.00%

97.79%

100.0*% 96.40%

100.00%

4.166 5.918 7,59%

9.479 11.581 13,926 16535 18&417 21.468 24.8&0 28.593 32.732 37.303 42.346 47,904 54.24 60.759 69.014 78.202 88.419 99.768 112.363 126331 141.808 158.945 177,904 1985868 222.030 247,608 275.834 3066967 341.285 379,096 420X661 457,499 497,523 481.869 443&301 396.978 339.992 254343 219,366 143,994 90,282 536142 48,924 0.00 Floor Pece SAMI Satisfied 11.32%

5.395 8.95%

7.401 10.83%

9,493 12.77%

11.849 17.08%

16791 20.15%

20.980 24.83%

27.388 31.05%

34380 34.72%

40.714 33.06%

41,083 YES 34.89J 4O,901J I I

ACTUAL A *

A* Mq

6*i

SALT RIVER PROJECT NUCLEAR DECOMMISMONING TRUIT (coo's)

Aggregate Decom Costs n 1998S

$1,775.625 SRP Sham in 1993S

$310.557 Endling Balance as of 12/31/98 in 1998S S101,132 FV of Totd Decom. Charges Discounted to Start of Decom $1.505.449 FV of 12/31/95 Fund Balance value at Start of Decom S

494 FV of Balance Owed to be Funded by Contributions and Earnings S I

ALL UNITS Current Balance Year(s) Calender Annual 8"acm Decom Terminafton Since Yea" End Payment Earnings Decom Charges Ending Costs Shxiy 31o Onflat Ad.3 anflartAd.)

C'baw 0OnlaAct Balace afo+/-AcL3 1987 1988 1989 1990 1991 1992 1993 1994 1995 26 31 283 1.185 716 1.269 899 198 9,579 SRP Shore 17 49%

Projected return.on investments 7.65%

Projected inflation 5.92%

Years To Start of Decom (Funding Yrs Lefts Unit 1 Unit 2 Unit 3 24 25 27

/

747 3.658 6.356 10.064 16.589 21.857 28.147 35.234 50,024 (100 0.00 0.00 0.00 0.00 O.0O 0.00 0.00 0.00 A

C T

U A

L 721 2.880 2415 2,523 5.809 3.989 5.390 6.890 5.210 747 3.658 6.356 132.884 10Q064 137.004 16.589 145.115 21.857 240.921 28.147 255.184 35.234 270.291 50.024 286&292 62.172 303,241 80.834 321,193 101.132 310,557 119,735 328,942 120.772 348,415 134920 369.041 15,.442 39O.888 167.458 414.029 18610W 2

438.540 206.518 464,501 228.862 492.000 253,302 521,126 280.023 561.977 309.222 584654 341,115 619.265 375,936 6556926 413,937 694756 455,393 7356886 500,599 779,450 549.878 825.594 603.576 874.469 662,071 926,238 725.770 981.071 795.115 1,0M9.150 870.584

1. 100.668 962.692 1,165.828 1.042.000 1,234845 1,139.112 1.307,947 1,244592 1.385,2S7 1.286.705 1,400.709 1,247,972 1,339.411

1. 13OL607 1,198.396 974,823 1,027,066 797,096 835,568 590.920 617.879 427,178 445,510 317,437 329.464 221.532 228,780 130,778 134622 51.521 53.142 48.096 48.924 O Ml F

0 R

E C

A S

l Funded 4.78%

7.35%

11.43%

9.07%

11.03%

13.04%

17.47%

20.50%

25.17%

32.56%

36.40%

34.66%

36.56%

38.49%

40.45%

42.44%

44.46%

46.52%

48.61%

50.73%

52.89%

56.08%

57.31%

59.58%

61.88%

64.22%

66.60%

69.02%

71.48%

73.98%

76.52%

79.10%

81.72%

84.38%

87.09%

89.84%

91.86%

93.17%

94.34%

94.91%

95.40%

95.64%

95.89%

96.35%

96.83%

97.14%

96.95%

98.31%

100.00%

4188 4435 4M698 4.135 4044 4909 56200 5.508 5.834 6.179 6.545 6,932 7,343 7.777 8,238 8.726 9,242 9.789 10.369 10.983 11.633 12.321 13.061 13.824 14.642 15.509 16.427 17,399 18,429 13.488 7,055 7,472 0.00 0.00 QO.O 0.00 O.OO 0.00 0.00 O.0O 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 0

2 3

4 5

6 7

8 9

10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 7.961 14,228 15.598 14,468 (3.007) 9,239 10,321 11,509 12.811 14.237 15.799 17.506 19.378 21,422 23.655 26.095 28.759 31.666 34,838 38.296 42.066 46.174 50.648 55.521 60.826 66.600 72.881 79.713 87,142 95.211 98,433 95,470 86.491 74.574 60.978 45.206 32.679 24,284 16.947 10.005 3,941 62.172 80(834 101,132 119.735 120.772 134920 150.442 167.458 186.102 206.518 228.862 253,302 280.023 309.222 341.115 375&936 413.937 455&393 500.599 549,878 603.576 662,071 725&770 795.115 870.584 952.692 1.042.000

1. 139,112 1.244,683 1.353,292 1,392.193 1,3580915 1.217.096 1.049.397 858.074 636.125 459.857 341.721 238.479 140,783 55.462 51179 0.00 0.00 0.00 0,00 0.00 0.00 0.00 (100 0.00 0.00 0.00 a.00 (100 0.00 O.O0 O.OO 0.00 0.00 0.00 O.OO 0.00 0.00 O.OO 0.00 0.O0 0.00 0.00 1100 0.00 91 66.586 1440 220.308 242.275 25Z.300 267,154 208.94 142.420 12D. 189 107.701 89,480 7.364 5=O I 58.MA 1-92AR 1 M91

FUNDING FLOOR ANALYSIS FOR ALL UNITS ($000's)

EStiMATED FUNDING FUN4DING FLOOR CURV.*IE Ending Fund Baaonce F c

% Ftunded, 16.642 145.115 11.47%

21.851 240.921 9.07%

28.157 256,184 11.03%

35.235 270.291 13.04%

43.140 286.292 15.07%

62.172 303.241 20.50%

80.834 321,193 25.17%

101.132 310.557 32.56%

119.735 328,942 36.40%

120.772 348,415 34.66%

134,920 369.041 36.56%

150.442 390.888 38.49%

167,458 414,029 40.45%

186.102 438.540 42.44%

206.518 464.501 44.46%

228.862 492.000 46.52%

253.302 521.126 48.6.1%

280.023 551,977 50.73%

309.222 584.654 52.89%

341.115 619.266 55.08%

375.936 655.926 57.31%

413.937 694.756 59.58%

455.393 735.886 61.88%

500.599 779.450 64.22%

549,878 825.594 66.60%

603.576 874,469 69.02%

662-071 926.238 71.48%

725,770 981.071 73.98%

795.115 1.039.150 76.52%

870.584 1,100.668 79.10%

952.692 1,165,828 81.72%

1.042,000 1,234.845 84.40%

1,139,112 1.307.947 87.59%

1,244,592 1.385.287 90.81%

1.286.705 1,400.709 92.11%

1.247.972 1.339,411 93.17%

1,130.607 1.196.396 94.34%

974.823 1,027.066 95.23%

797.096 835.568 96.05%

590.920 617,879 96.62%

427,178 445.510 97.23%

317.437 329.464 97.82%

221.532 22& 780 98.59%

130, 778 134,622 98.93%

51.521 53.142 100.00%

48.098 48.924 100.00%

0.00 0.00 100.00%

Minimum Minimum Mnimurn Bam 2acnto SAMI 80.00%

9.17%

13.314 80.00%

7.25%

17,478 80.00%

8.83%

22.530 80.00%

10.43%

28,188 80.00%

12.05%

34.512 80.00%

13.71%

41,567 80.00%

15.39%

49,423 80.00%

17.08%

53.029 80.00%

18.81%

61.869 80.00%

20.57%

71.670 80.00%

80.00%

81.00%

82O0%

83.00%

84.00%

85.00%

86.00%

87.00%

88.00%

89.00%

90.00%

91.00%

92.00%

93.00%

94.00%

95.00%

96.00%

97.00%

96.00%

99.00%

100.00%

10.0O%

100.00%

22.36%

24.18%

26.03%

27.91%

29.82%

31.76%

33.73%

36.19%

38.72%

41.34%

44.05%

46.85%

49.74%

52.72%

55.80%

58.97%

62.24%

66.62%

69.09%

7268%

76.37%

80.17%

84.07%

88.08%

90.24%

92.24%

94.25%

95.21%

96.03%

96.59%

97.21%

97.80%

96.58%

96.91%

100.00%

82.520

.94,518 107,770 122.392 138.511 156.263 175,796 199,738 226.388 256.023 288.946 325,490 366.017 410,927 460.656 515,680 576.522 643.752 717.995 799.932 890.309 989,941 1.099,628 1.220,160 1,264.048 1,235.418 1.129,484 977,896 802.420 596,823 433,060 322,200 225.525 133,155 53.142 4&924 0.00 Fioor 2mcn SAMI Stisfiec 11.43%

16.589 9.07%

21.857 11.03%

28,147 13.04%

35.234 17.47%

50,024 20.50%

6Z.172 25.17%

80.834 32.56%

101,132 36.40%

119,735 34.66%

120,772 YES 36.56%

134.920 year 1991 1992 1993 1994 1995 1996 1997 1996 1999 2000 2001 2002 20O3 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 I

I FUNDING FLOOR CUM ESTIMATED FUNDING ACTUAL

Fun ding Percentoges 901--

-- --- -- --A LI, UNITS CO M BINED 1998 Decommisuoning soy -

C ost Study--

7 0 6 O 50j, - -- -- -- -- -- -- -- - --

-- --- e- -- -

4OX- - -- -- -

30,

Palo Verde Nuclear Generating Station Appendix B, Tab 3 Units 1, 2, & 3 EPE 2000 Annual Funding Status Report Section 2.1.7 [Restated]

Summary of Model Assumptions:

Assumed Rate of Earnings 7.3310%

Assumed Rate of Cost Escalation 5.2925%

Assumed Rate of Inflation 3.9031%

Treatment of Water Reclamation Facility Included Contingency Factor 25.0000%

1570074 PJH 31612001

2.10 Fund Liabilities at End of the Reporting Period:

Other than accrued administrative expenses and potential taxes on unrealized gains, no liabilities exist against the Funds.

2.11 Defaults, If any. Experienced on Investments:

None 2.12 Summary of Investment Ratings:

See Exhibit 1 for current rating on each municipal bond held.

21 EL PASO ELECTRIC COMPANY Annual Funding Status Report For the Year Ended December 31, 2000

3.1.1 Table For Unit 1 (In Thousands) - contin Estimated Deposits 2,980.838 3,317.760 3,449.163 3,585.771 4,065.222 4,226.229 4,393.613 5,138.776 5,342.302 5,553.889 6,957.220 7,232.768 7,519.229 7,817.036 Estimated Income 6,166.623 6,865.187 7,636.102 8,475.150 9,397.178 10,416.018 11,523.935 12,743.895 14,096.977 15,567.572 17,197.815 19,025.510 21,011.985 23, 106.171 25,087.342 25,233.305 21,501.537 17,190.449 12,240.609 6,587.274 2,415.824 ued:

Estimated Accumulation 89,894.946 100,077.893 111, 163.158 123.224.079 136,686.478 151,328.725 167,246.272 185,128.943 204,568.222 225,689.683 249,844.719 276,102.996 304,634.210 334,709.788 358,030.257 360,113.346 306,855.984 245,330.930 174,690.029 94,009.301 34,477.067 Estimated Costs 186,112.716 195,962.705 206,334.004 217,254.202 228,752.350 240,859.036 253,606.467 267,028.554 281,161.003 296,041.410 311,709.360 328.206.534 345,576.819 362,973.935 380,323.895 376,077.046 317,265.368 251,175.083 177,200.486 94,692.148 34,477.067 Percent Funded 48.30%

51.07%

53.88%

56.72%

59.75%

62.83%

65.95%

69.33%

72.76%

76.24%

80.15%

84.12%

88.15%

92.21%

94.14%

95.76%

96.72%

97.67%

98.58%

99.28%

100.00%

Funding Floor 42.02%

44.94%

47.95%

51.05%

54.38%

57.80%

61.33%

65.17%

69.12%

73.19%

77.75%

82.44%

87.27%

92.21%

94.14%

95.76%

96.72%

97.67%

98.58%

99.28%

100.00%

23 EL PASO ELECTRIC COMPANY Annual Funding Status Report For the Year Ended December 31, 2000 Year 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

3.1.2 Table for Unit 2 (In Thousands) - contini Estimated Deposits 3,535.811 3,675.850 3,821.436 4,392.538 4,566.509 4,747.370 5,730.719 5,957.690 6,193.650 8,791.549 9,139.748 Estimated Income 8,750.184 9,679.802 10,690.173 11,799.390 13,024.259 14,354.720 15,821.210 17,451.419 19,221.815 21,208.585 23,478.715 25,671.399 27,381.115 27,376.844 23,348.142 18,467.306 12,867.270 6,475.243 2,359.251 ned:

Estimated Accumulation 127,117.521 140,473.173 154,984.782 171, 176.710 188,767.478 207,869.568 229,421.497 252,830.607 278,246.072 308,246.207 340,864.670 366,365.540 390,765.507 390,704.542 333,209.534 263,553.410 183,633.329 92,410.462 33,669.696 Estimated Costs 225,077.871 236,990.086 249,532.753 262,739.239 276,644.676 291,286.057 306,702.331 322,934.509 340,025.772 358,021.589 376.969.831 396,741.353 414,599.909 407,652.600 344,105.794 269,530.194 186,096.933 93,077.319 33,669.696 Percent Funded 56.48%

59.27%

62.11%

65.15%

68.23%

71.36%

74.80%

78.29%

81.83%

86.10%

90.42%

92.34%

94.25%

95.84%

96.83%

97.78%

98.68%

99.28%

100.00%

Funding Floor 50.83%

53.94%

57.14%

60.59%

64.14%

67.79%

71.81%

75.94%

80.19%

85.24%

90.42%

92.34%

94.25%

95.84%

96.83%

97.78%

98.68%

99.28%

100.00%

25 EL PASO ELECTRIC COMPANY Annual Funding Status Report For the Year Ended December 31, 2000 Year 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033

3.1.3 Table for Unit 3 (In Thousands) - continued:

Estimated Deposits 3,814.940 3,966.035 4,123.113 4,659.502 4,844.046 5,035.900 5,889.479 6,122.738 6,365.235 8,106.273 8,427.330 8,761.103 2,243.965 Estimated Income 8,414.484 9,340.145 10,347.106 11,452.246 12,671.365 13,996.451 15,454.105 17,068.788 18,822.970 20,768.965 22,953.584 25,327.357 27,779.761 29,734.433 31,725.894 32,272.786 28,835.010 23,533.147 17,436.197 10,463.311 4,310.701 Estimated Accumulation 122,503.517 135,809.697 150,279.916 166,391.665 183,907.075 202,939.426 224,283.010 247,474.536 272,662.741 301,537.978 332,918.891 367,007.351 397,031.077 424,350.531 452,771.373 460,576.256 411,514.545 335,849.805 248,838.081 149,325.578 61,519.522 Estimated Costs 237,720.247 250,301.558 263, 548.733 277,497.013 292,183.503 307,647.274 323,929.463 341,073.385 359.124.646 378,131.267 398,143.812 419,215.517 441,402.440 462,220.811 483,203.810 483,014.441 426,558.518 344,686.147 252,952.800 150,544.024 61,519.522 Percent Funded 51.53%

54.26%

57.02%

59.96%

62.94%

65.96%

69.24%

72.56%

75.92%

79.74%

83.62%

87.55%

89.95%

91.81%

93.70%

95.35%

96.47%

97.44%

98.37%

99.19%

100.00%

27 EL PASO ELECTRIC COMPANY Annual Funding Status Report For the Year Ended December 31, 2000 Year 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 Funding Floor 45.35%

48.29%

51.32%

54.57%

57.91%

61.35%

65.08%

68.93%

72.89%

77.35%

81.95%

86.67%

89.95%

91.81%

93.70%

95.35%

96.47%

97.44%

98.37%

99.19%

100.00%

3.2.2 Unit 2 Curve:

100%

90%

80%

70%

60%

50%

40%

30%

20%

10%

0%

1991 EL PASO ELECTRIC COMPANY Annual Funding Status Report For the Year Ended December 31, 2000 29

Palo Verde Nuclear Generating Station Appendix B, Tab 4 Units 1, 2, & 3 SCE 2000 Annual Funding Status Report Section 2.1.7 [Restated]

Assumptions Used in Developing Committed Accumulations:

Cost Study:

1998 TLG study, including all Summary Table Costs (page xiii of xx) (all non-unit specific costs are allocated equally among all three units)

Contingency Factors:

1998 TLG Study Annual Escalation Assumption:

Approximately 7.3% over the funding period.

Rate of Return Assumption:

5.25% per year (after tax) 1570074 PJH 3/6I2WO

(1)

CZ (3)

FUN, PLAN ffM FUND S g

cf 1991 25.499 44.219 5e%

1992 32.402 69.860 46%

1993 38,797 74.906 52%

1994 4.527 60.314 57%

1996 54,963 K6,114 64%

1996 64,896 92.333 70%

1997 75.348 99.000 76%

1996 66.350 106.180 W1s 1999 97.930 113.15 us 2000 110.118 122.034 90%

2001 122.945 130.847 94%

2002 136.446 140.296 97%

2003 10.666 180,427 1001%

2004 165611 161.290 103%

2006 181.352 172937 105%

2006 197.919 11.d426 107%

2007 21&356 19&.816 10%*

2008 233709 213.174 110%

2O09 253.025 22L.,66 111%

2010 273.355 245.074 112%

2011 294.782 262.7M2 112%

2012 317.273 201.747 113%

2013 340.976 3CM.094 113%

2014 366,923 323909 113%

2015 392.180 347.300 113%

2016 419.616 372.360 113%

2D17 44&903 399.271 112%

2016 479.516 426.104 112%

2019 611.737 459.019 111%

2020 546.60 4921167 111%

2021 561.343 527,709 110%

2022 618909 546.117 109%

2023 653,446 60&.677 109%

2024 700.063 65O.487 106%

2025 696.219 656.64 106%

2026 594779 566.306 1065 2027 477.900 459.182 104%

202 344306 33,566 103%

2029 191070 187.340 103%

2030 69.900 66615 102%

2031 0

0 100%

2032 2033 2034 2035 SOUlERN C.IFOqWA £ N COWAWY 2000 PALO VERE UNIT I FUNDM STAlUS (S 1 I4OUSM 0

(4)

(5)

(6)

(7)

(1)

(9)

FUNPiNG FLOOR CUVE ACIUAL FUNtJ 0'%

46%

20.399 27.001 44.219 61%

60%

37%

25.922 33.7W 7

69.860 48%

60%

41%

31,036 41.611 74.906 56%

40%

8%

36.422 46.930 80.314 57%

10 51%

36.351 64.177 71.191 90%

60%

56%

42.746 79.273 76.331 104%

6%

61%

49.760 99.810 61.642 122%

00%

65%

56.862 122.110 67.731 139%

60%

69%

64.97 136.263 94.458 144%

00%

72%

72.920 141.277 101.278 139%

gw.

75%

80%

78%

W*

62%

61%

an 82%

66%

63%

90%

64^

92Y%

an%

94%

8a" 96%

67%

96%

W6%

99%*

"8%

I100%

90%

102%

91%

103%

92%

104%

93%

106%

94%

106%

95%

106%

96%

106%

97%

107%

96%

107%

99%

107%

100%

106%

100%

106%

100%*

105%

too%

104%

100%

103%

100%

103%

10M 102%

100%

soUn.RN CALIFORMA EOON COMPANY 2000 PALO VERDE UNIT 2 FUMM STATUS CS DmowANDS)

(1)

(3)

FUD&PLAN 1991 24,496 43826 561 1992 31.537 6L.737 46%

1993 316092 74.905 51%

1994 44.991 60.314 6a 1995 4.1543 86114 63%

1996 64.097 92333 70%

1997 7W179 99.000 76%

1996 86.317 106.180 81%

1999 9&039 113.815 46%

2000 110,376 122.034 90%

2001 123362 130.W47 94%

2002 137.029 140.296 90%

2003 151.413 15Q.427 101%

2004 166.563 161.290 1031 2005 161487 1Ml937 106l 2006 199.259 18.426 107%

2007 216.910 19&.816 109I 2006 23&466 213174 110%

209 255042 22mI.68 112%

2010 27.622 24&.074 112%

2011 297.263 262.772 113%

2012 320.061 281.747 114%

2013 344.076 3.0Z94 114%

2014 369,330 323,909 114%

2015 396.910 347.300 114%

2016 423.866 372.300 114%

2017 453331 399.271 114%

2018 484,321 421.104 113%

2019 516.939 459.019 113%

20) 561.268 492.167

1121, 2021

,8714,0 527.709 111%

20 625,430 566.817 111%

203 665.456 601.677 110%

2024 707.582 650.417 109%

202 761.921 695.716 106%

2026 79X166 741858 106%

2027 776927 739.787 108%

2028 667.674 631.302 104%

2029 520.952 803.822 103%

2030 364,378 354.929 103%

2D31 1614212 18.311 102%

2032 62.940 61,939 102%

2033 0

0 100%

2034 2036 (4)

,(5)

(6)

(7)

0)

(9)

INCHNG FLOCO CURV*

ACITUAL R 4D 60%

45%

19.597 25943 43.26 59%

31 37%

25.230 321169 6&737 48%

0W%

41%

30.474 40.791 74.905 54%

60%

45%

38.993 45386 80.314 56^

60%

51%

37.442 63426 73.89, M6%

0W%

56%

44.368 7.392 79.226 99%

60%

61%

51.648 96L759 64.948 116%

60%

65%

59.021 120.878 91.0*2 133%

60%

69%

66L410 13,329 99.433 136%

80%

72%

76,761 140.883 106.613 132%

78%

0W%

81%

80%&

63%

W0%

84^

81%

87%

6m%

89%

83%

92%

84%

94A 65%

96%

66%

97%

87%

99%

68%

100%

89%

101%

90%

103%

91%

104%

92m 104%

93%

1085 94%*

106%

93%

106M 9%%

107%

97%

107%

"9%

107%

99%

106%

100%

106%

!00%

106%

Was%

105%

100%

104%

100%

103%

100%

103%

1*0*L Ims*

100%

102%

IOD%

100%

ms It A A P

" 1029ý9Mi S 555

I I I I I I I I I I I III ge I

=

I 19 9

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S S S 3 I I ecoaacoOcoOQocoooocoaaoooaaa0aaaao ii"""

£

fp

'40 ol Oll or-Mism-i9 I

S I

0

S 3

11545,4159111

Southern California Edison Company Palo Verde Unit 1 Funding Plan 150%

SActual Accumulation 125%

100% -

75%

$ AMOUNT PERCENT 50%

COMMITTED

$ 91,150 90%

F nFloor ACTUAL

$141,277 139%

25%

& -... A 7

0-Accumulations 0%

r........

In 11-

)

04 04 04 N

O*

0 C4 C~)

01

Southern California Edison Company Palo Verde Unit 2 Funding Plan 150%

125%

100%

75%

50%

25%

0%

LO T0 Co4.

v-

~

M O

co Cv 0*

cm Cr) 0 C..

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v-"

C)

N C'.

C..

0 C'

04 C'.I LO I'C...'

0 C...'

CD.

V",

M c%

CD

Southern California Edison Company Palo Verde Unit 3 Funding Plan 150%

Actual 125%--

Accumulation 100%-

75%-

2000 FUNDING STATUS 75%AMOUNT PERCENT Funding 50%

F oor COMMITTED

$112,339 98%

Committed ACTUAL

$153,445 134%

25%

^r%

I I 0 0/1 0%,

r-.

o, 0--

)n "0"

I 1 LC)

V c0J-0C C4 C4 CM-N C4 V

) (Y)

0) 0 0 0

0 0

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0 04 C14 C14 C14 N

N N

N1 N

1 04 N

1 N

N1 N1 N4 NM N1

Southern California, Edison Company ANPP Funding Plan - All Units

-- Actual Accumulation "i,,

_*f2000 FUNDING STATUS

$ AMOUNT PERCENT

____COMMITTED

$ 299,946 93%

Funding ACTUAL

$ 435,605 135%

Floor Committed FLOOR

$ 239,957 74%.

Accumulations 5

5 I

I i

i I

i i

I i

I I

i I

I I

(*

uJ 150%

125%

100%

75%

50%

25%

0%

In 0-M-

V-MI%

0' (N

(J T

C8 8

8 00O 0

0 0

lw..J N

"~.

"N "N

N N

N Nm N

N N

(M 0

0 (NM

Palo Verde Nuclear Generating Station Units 1, 2, & 3 PNM 2000 Annual Funding Status Report Section 2.1.7 [Restated]

Summary of Major Assumptions Portfolio Yield Mortality Policy Loan Interest Rate Inflation Rate Side Fund Interest Rate Composite Tax Rate Cost Study Water Reclamation Facility Water Treatment and Ponds Reservoir ISFSI 9.50%

1983 Group Annuity Mortality 8.50%

5.00%

5% After Tax 39.59%

1998 TLG Included Included Included Included 1570074 PJH 31712001 Appendix B, Tab 5

plilllC SEERVICE (OIPtrANY (IF NEW IIXI(

KO rAIA) VERDE UNIT I

($041)

Funding Ilian Year Find S Est. Costs

% Funded I991 1,095 1992 3,450 1993 5.931 19'94 6,807 1995 7,013 1996 3,107 1997 9.212 1993 11.170 1999 12,953 12000 15,193 2001 17,633 2002 20,303 2003 23.213 2004 26,363 2005 29,794 2006 33,519 2007 37,541 2008 41.8g3 2009 46.631 2010 51.773 2011 57.214 2012 63,295 2013 69,91)6 2014 76.785 2015 34,248 2016 92.224 2017 101.133 2013 110,641 2019 120.784 2020 131,598 2021 143,121 20122 155.670 2023 169,443 2024 184,529 2025 177,461 2026 162,427 2027 138,046 2028 111,417 2029 81.546 2030 47.410 2031 30.656 2032 27.330 2033 23,343 2(114 15.976 2035 7.481 2036 6.823 2037 14.337 23.746 45.099 47.354 49.722 45.959 48.257 50,670 56,373 59,717 62,703 65,833 69,130 72.586 76.215 30.026 34.028 38.229 92.640 97,272 102. 136 107,243 112,605 113.235 124 147 130.354 136,372 143.716 150.901 158,446 166,369 174,687 183,422 192,593 202,180 1913808 173,237 145.297 115,746 33.628 43,010 30.656 27,380 23.348 15,976 7.481 6,328 14.337 3.31%

7.65%

12.63%

13.691/6 15.27%

16.80%

18.18%

19.64%

21.69%/

24.23%

26.79%

29.37%

31.98%

34.59%

37.23%

39.89%

42.55%

45.21%

47.99%

50.69%

53.35%

56.21%

59.0M%

61.85%

64.63%

67.39%

70.37%

73.32%

76.23%

79.10%

31.93%

84.87%

87.98/

91.27%

92.52%

93.76%

95.101%

96.26%

97.51%

98.75%

100.(OO.

100.0I%

10(.00/,

M1. 000/

100.00 1001. WJ4 100 00%

Funding Floor Curve

('rileria Perce¢n S Amount 80%/.

3.05%

376 80%

6.12%

2,760 30%

10.10/h 4.735 30@/*

10.95%

5.446 800/

12.22%

5.614 906/6 13.44%

6.436 30%

14.54%

7.369 80%

15.71%

8,936 80%

17.35%

10,362 80%

19.33%

12.154 80%

21.43%

14.110 80Y 23.50%/

16,243 W/o 25.58%

18.570 80%

27.67%

21.090 803/.

29.73%

23,335 31%

32.31%

27.150 82%

34.89%

30,734 83%

37.52%

34,763 34%

40.31%

39.212 35%

43.090/.

44.007 86%

45.83%

49.204 87%

43.90%/h 55.067 33%

51.96%

61,429

3990, 55.05%

63,339 90%

58.17%

75,823 91%

61.32%

83.924 92%

64.74%

93,042 93%

68.19%

102.896 94%

71.66%

113.537 95%

75.15%

125.013 96%

78.65%

137,396 97%

82.32%

151.000 98%

86.22%

166.054 99%

90.36%

182.634 100%

92.52%

177.461 100./%

93.76%

162.427 1006/.

95.01%

133.046 100.W1 96.26%

111,417 1000Y 97.51%

81,546 100%.

98.75%

47.410 100%

100.00%

30.656 1004/9 100.(1)%

27,380 l00'6" 100.00%/6 23,343 1 W!,

IM00.A0%

15,976 100%

0.00.I A

7,481 100%

100 00%

6.828 100%

100.000/9 14.337 Actual Fundin!r Fund S Ext. Cosi

% Funded 1.096 23.746 3.31%

2.334 45.099 S.I8%

3,691 47,354 7.79%

4.117 49.722 8.28%

4.235 45.959 9.21%

8,094 43,257 16.77%

9.999 50.670 19.73%

14,095 56,873 24.78%

17,434 59,717 29.19%

18.507 62.703 29.52%l E.xhibii 3.4

Public Service Company Of New Mexico Palo Verde Unit I 120.00%

2000 Funding Status

$($000)

Percent 100.00%

Committed

$15,193 24.23%

Actual

$18,507 29.52%

Floor

$12,154 19.38%

80.00%

60.00%

Committed Accumulations 40.00%

Funding Floor 20.00%

i ctual Accumulations 0.00%

N-Y~*

N N

M en)

M M

~

V 1

Exhibit 3.4

PIIIII(C SERVICE (OMPANV OF NEW MFXI('O PALO VERDE UNIT 2 (SoNK)

FundinK Plan Year I'und $

Ist. Costs

% Funded 1991 1.096 1992 3.426 1993 5.936 1994 6.756 1995 7,346 1996 8.485 1997 9.645 1998 11.81160 1999 13.754 1201E 1".32 2001 19.726 20()2 21.555 2(003 24.642 2004 27.992 2(X05 31.633 2W06 35.594 2007 39,862 2008 44.469 2009 49.560 2010 54.973 2011 60.747 2012 67.198 2013 74.118 2014 81,522 2015 89.454 2016 97.932 2017 107.382 2018 117.485 2019 128,246 2020 139.720 2021 151,965 2022 165.279 2023 179.239 2024 193.779 2025 199.710 2026 181.142 2027 160,195 2028 135.984 2029 108.520 2030 77.154 2031 47.098 2032 30.724 2033 25.821 2034 17.128 2035 8.101 2036 7.479 2037 15,0121 28.499 4.1.375 46.594 48.923 47.703 50,088 52,593 59,869 62,862 69.305 72,77 I 76,409 80.230 84,24 I 88.453 92,876 97.520 102.396 107,516 112,891 118.536 124.463 130,686 137,220 144,081 151,285 158.849 166,792 175.131 183,888 193,082 202,737 212.873 217.5,19 195,154 170.693 143.338 113,160 79,606 48,083 31,044 25,821 17.128 8.101 7,479 15.021 3.85%

7.72%

12.74%

13.81%

I 5.4001 16.94%

18.34%

19.31%

21.88%

24.44%

-D.02%

29.62%

32.25%

34.89%

37.55%

40.24%

42.92%

45.601/6 48.40%

51.13%

53.81%

56.69%

59.55%

62.38%

65.191/9 67.97%

70.98%

73.96%

76.89%

79.73%

82.64%

85.60%

88.41%

91.03%

91.80./

92.82%

93.85%

94.87%

95.90%

96.92%

97.95%

98.97%

100.00%

10.0(00 10000%

I()0.)00%

100.(0%

Funding Floor C(urve Criteria Percent S.4mount 80%

3.08%

877 80%1 6.18%

2.74 I 804./

10.19%

4.749 80%4 11.05%

5,405 801)/

12.32%

5.877 80%/*

13.55%

6.788 80%

14.67%

7,716 804/0 15.85%

9,488 800/%

17.50%

11.003 8/0%

19A.5%

12.905 80%

21.62%

14,981 808/o 23.70%

17,244 801%

25.800/

19,714 80%

27.91%

22,394 80O 30.04%

25,306 81%

32.59%

28.831 82%

35.19%

32,687 83%

37.85%

36,909 84%

40.66%

41.630 35%

43.46%

46,727 86%

46.28%

52,242 87%

49.32%

58,462 88%

52.40%

65.223 899/o 55.52%

72.554 90%4 58.67%

80.508 91%

61.85%

89.118 92%

65.30%

98,792 93%

68.78%

109.261 94%

72.28%

120,551 95%

75.790/.

132,734 96%

79.33%

145,886 97%

83.03%

160.320 98%

86.64%

175,655 99%/9 90,12%

191,841 100%

91.800" 199.710 100%

92.82%

181.142 1000/6 93.85%

160,195 100.4 94.87%

135,984 100%.

95.90%

108,520 1 00%

96.92%

77.154 1 Me)% 97.95%

47.098 100%

98.97%/

30.724 100"% 100.00%

25,821 I1()

I 100.0(0'/0 17.128 100%

I 00U.00%

8,101 100%

100.00(r 7,479 100%

100004/9 15.021 Actual Fundinl Fgund $

Es. Cost

% Funded 1,096 28,499 3.85%

2.334 44.375 5.26%

3.691 46.594 7.92%

4.117 48,923 8.42%

4.235 47,703 8.88%

8,479 50,088 16.93%

10.368 52,593 19.71%

14,528 59.869 24.27%

17.962 62,862 28.57%

19.071 66.005 231M.1l Exhibio 3.4

Public Service Comany of New Mexico Palo Verde Unit 2 1 2 0.0 0 %

2000 Funding Status

$ ($000)

Percent 100.00%

Committed

$16,132 24.44%

Actual

$19.071 28.89%

Floor

$12,905 19.55%

80.00%

60.00%

Committed Accumulations 40.00%

Funding Floor 20.00%

Exhibit 3.4 a00%

i a

i i

PIIIII.I(: SEIRVIC:E (ORfIIANY OF NEFW MEXICO PA.I) VER," tlNr' 3 (500)

Funding Plan f~d b-Mid S El il

%v 2I.akd Funding Floor Curve Cnu

)IM iDAUmw AcluaI Funding buisL E,31 CmL

% I-wuitki 1991 1992 1993 M'r4 1996 1997 I'995 2001 2002 2003 2004 2001 2006 2001 2003 2(X) 2010 2011 20012 2013 2014 2015 2016 2017 2015 2019 2020 2021 2022 2023 2024 2022 2026 2027 2025 2029 2030 2031 2032 20133 2034 20135 2016 2037 875 2.722 4,716 5,370 6,239 7,208 8,190 9.594 11.123 13.047 1.097 30.306 2.335 46,567 3,692 49,211 4,117 51.671 4,235 53,63 9,007 56,556 10,228 59.384 11.689 64.372 16,377 67.590 18.332 70.970 1.097 1.403 5,395 6.712 7.799 9,009 10,23.

11,992 13,903 16.309 18,935 21799 24,918 28.303 31.992 35.988 40.304 44,96!

50.116 5S.5A2 61.420 67.945 74.942 32,427 90,443 "99,Ono 108,579 118.790 129,679 141.285 153.648 167.123 181,212 195,949 203,679 213,162 201.771 182,557 160.616 134,99]

110.192 81.436 45,341 24.497 7.491 6.528 1.1.33.7 Exhibih 3.4 3.62%

4.98%

7.50%

7.97%

7.36%

15.93%

17.22%

15.16%

24.23%

25.23%1 30,306 46.567 49.211 51.671 53,863 56,556 59,384 64,372 67.90 70,970 74.518 78,244 82.137 86,264 90,579 95.107 "99.862 104,855 110,098 115,603 121,313 127.452 133,824 140.516 147.541 154,919 162.664 170,798 179,338 "188,304 197,720 207,606 217.986 228,885 236.095 243,453 226.684 201.966 175,039 144.951 116,592 84.935 49.708 24,837 7.481 6.X28 14.337 3.62%

7 62%

1 1.95%.

12.99%

14.48%

15.93%

17 24%

18.63%

20.57%

22.98%

25.41%

27.66%

30.33%

32.81%

35.32%

37.84%

40.36%

42.88%

45.52%

48.08%

50.60%

53.31%

56.00%

58.66%

61.30%

63.91%

66.75%

69.55%

72.31%

75.03%

77.71%

80.50%

83.13%

85.61%

56.27%

87.64%

B9.01%

90.39%

91.76%

93.13%

94.51%

95,11%

97.25%

98.63%

10000%

I 00%

1000%

80%

2.90%

80%

6.10 O%

80*/.

9.58%

80%

10.39%

30%

11.31%

30%

12.74%

s0%

13.79%

50%

14.90%

80%

16.46%

M0e 18.35%

50%

20.33%

80%

22.29%

80%

24.26%

80%

26.25%

80%

28.26%

81%

30.65%

52%

33 10%

53%

35.59%

84%

38.24%

85%

40.87%

86%

43.52%

37%

46.38%

88%

49.25%

I'M 52.21%

9081; 55.17%

91%

58.16%

92%

61.41%

93%

64.68%

94%

67.97%

95%

71.28%

96%

74.60%

97%

75.09/

98%

81.47%

99%

84.75%

100%

36.27%

100%

87.640 100%

$9.01%

10M-90.39%

100%

91.76%

100%

93.13%

100%

94.51%

100%

95.58%

100%

97.25%

100%

98.61%

100%

100 00%

100*.6 1001110%

IM160 1( 100%

15.148 17.439 19.914 22,643 25.594 29.151 33,049 37,318 42.098 47.244 52,821 19.112 65.949 73.360 81.399 90,095 99.892 110,475 121,598 134,221 147,502 162,109 177.587 193,989 203.679 213,362 201,771 182,557 160.616 134.993 110,192 81.436 45.341 24,497 7,481 6.928 14.337

Public Service Company of New Mexico Palo Verde Unit 3 120.00%

2000 Funding Status 100.00%

$($000)

Percent Committed

$16.309 22.98%

Actual

$18,332 25.83%

Floor

$13.047 18.38%

80.00%

60.00%

Committed Accumulations Funding Floor 40.00%

20.00%

Exhibit 3.4 0.0

-4, II, I

1 I

I I

I

PUBlIC SERVICE COMPANY OF NEW MEXICO PALO VERDE UNITS 1. 2.3 (sooo)

Funding Plan Funding Fleor Curve

)Year IPund $ sF.it Costs % Funded Criteria Percent

$ Amoun Actual Funding Fund S Evt. Cost % binded 1991 I1092 1993 1994 1995 1996 1997 1998 1999 12000 2001 2002 2004 2005 2006 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 3,288 87,551 10.279 136.341 17,812 143,159 20.275 150,316 22,164 147.525 25.601 154,901 29,095 162,646 35,022 181,114 40,610 190,169 47,633 199,678 55.299 209.662 63,657 220,145 72,773 231,152 82.658 242,710 93,418 254,845 105,100 267,587 117,708 280,967 131,314 295,015 146,357 309,766 162,327 325,254 179,380 341,517 198,438 358,593 218,865 376,522 240,733 395,348 264.145 415,116 289.165 435,872 317,093 457,665 346,916 480,548 378,709 504,576 412,602 529,805 448.734 556,295 488,071 584.110 529.894 613,315 574.257 643.938 580.85(1 645.452 3.76%

7.54%

12.44%

13.491/o 15.02%

16.53%

17.891/o 19.34%

21.35%

23.86%

26.38%

28.92%

31.480/6 34.06%

36.66%

39.28%

41.891/9 44.51%

47.25%

49.91%

52.52%

55.34%

58.13%

60.899/o 63.63%

66.34%

69.29%/a 72.19%1/

75.05%

77.88%/o 80.66%

83.56%

86.40r/.

89.18%

89.990/o 3,289 87,551 3.76%/a 7,003 136,341 5.14%

11,074 143,159 7.74%

12,351 150.316 8.22%

12,705 147,525 8.61%

25,581 154,901 16.51%

30,594 162,646 18.81%

40,312 181,114 22.26%

51,773 190,169 27.22%

55.910 199.678 28.00%

Exhibit 3.4 80%

3.001/9 2,630 80%

6.03%

8,223 80%

9.95%

14.250 80%

10.79%

16,220 80%.

12.02%

17,731 80%

13.22%

20.481 S0/.

14.31%

23,276 801/o 15.47%

28.018 80%

17.08%

32,488 806/s 19.08%

38,107 80%

21.10%

44,240 80%

23.13%

50,926 80%

25.19%

58.219 80%

27.25%

66,127 80%

29.33%

74.735 81%

31.81%

85.131 82%

34.35%

96,521 83%

36.94%

108,990 84%

39.695/

122,940 85%

42.42%

137.978 86%

45.17%

154.267 87%

48.14%

172,641 88%

51.15%

192,601 891/6 54.19%

214,253 901/

57.27%

237.730 91%

60.37%

263,140 92%

63.74%

291.726 93%

67.14%

322.632 94%

70.55%

355,986 95%

73.98%

391.972 96%

77.44%

430.785 97%

81.05%

473.429 98%

84.67%

519,296 99%

88.29%

568.514 1(00o 89.991/o 580.850

2(026 556.931 611.844

'91.03%

10o%

91.03%

556.931 2027 5(00.013 542.673 92.14%

1 4)3% 92.14%

500,013 2028 429.951 461.049 93.26%

1 OiP/o 93.26%

429,958 2029 350,682 371.827 94.31%

100h 94.31%

350,682 2030 259,557 272,567 95.23%

10(0,%

95.23%

259,557 2031 187.945 195,332 96.22%

1000/

96.22%

187,945 2032 139,539 143,358 97.34%

1000/a 97.34%

139,539 2033 97,510 98,877 98.62%

100%

98.62%

97,510 2034 57,601 57,942 99.41%

1 0(/0%

99.41%

57,601 2035 23,064 23.064 I00.00%

W 100%

00.00%

23.064 2036 21,134 21.134 100.00%

100%

1 00.(00%

21.134 2037 43.696 43,6%9 I1000%

100%!.

100.00%

43.696 Exhibit 3.4

Public Service Company of New Mexico Palo Verde Units 1, 2, and 3 2000 Funding Status 100.00%

Committed Actual 100.0% IFloor

$Amount

$47.633

$55.897

$38,107 Percent 23.86%

27.99%

19.08%

Committed Funding Floor f <4 b

N b

11cpNCOf P

N~

Nb 03 Exhibit 3.4 120.00%

80.00%

60.00%

40.00%

20.00%

0.00%

Palo Verde Nuclear Generating Station Units 1, 2, & 3 SCPPA 2000 Annual Funding Status Report Section 2.1.7 [Restated]

Summary of Major Assumptions Escalation Factor Rate of Return Participation Ratio Funding Period Funding Level 6%

6.83%

5.91%

35 years for each unit Includes Independent Spent Fuel Storage Installation and Non-Nuclear Demolition Costs.

1570074 PJH 3/6/2001 Appendix B, Tab 6

SOUJI'III-.I-N CALIFORNIA i'IJIPLIC POWER AUTI IOIITY PIlo Vcrdc lProjccl -"'erminaflion Cost FIundinqg ImNI I 9 lJS9SJU

.96J.5J999/Jsm 9RiM.91' 1

ReAI 42:1; LiailflMM4PLO8 fftULAL DIX( 3t.

1990 JUN 10.

9999 DIV1 I9.

90WiI J)IN 31.

1902 I1-3 19.

I99

)JIN 30.

1"93 I)I:(" 1.

19,13 JUJN

30.

1994 IWC 31.

1994 JUlN 10, 1995 vE1(39.

909 JIN 30.

19%6 1 )1;" 3l, 1996 PUN 3U.

1997 l)I'C 31.

1'97 JUN W0.

I1ll DEC 31.

1995 JUN 10.

1909 II17. 3l.

1999 MlIN M0.

24000 F5C u.II.

2000m IIIN 3.0, 20o D)E.C I.

2001 JUN 10.

2002 I0.47 31, 2002 JUN 3, 2001 DIEIC W1, 2003 JuN 30.

2004 9)EC 31.

2004 JUN 30.

2005 DEC J 1, 2005 JUN 30.

2006 tlSC 31.

2006 JUN 30.

2007 IDEC :1.

2007 JUN 30.

2008 IX 1.,

2008 AION.30.

2009 1Ilic R1, 2009 143 0

0 0

0 1.240,620 1,240.620 1.239.310 1.240.620 1.6s4.160 1127,080 1.240.620 1.239.350 1.239.350 1.241.560 91.40,620 174.366 174.366 174.366 174.)66 174..66 174.366 174.366 174.366 174.366 174,366 174.366 174,366 174.366 174.366 174.166 174.366 174.66 174,366 56253.16 J.16..11110

.29,0J9 791.914 264.949 229.682 16.871 456.265 30Z.795 "244.149 440.971 670.97" 206.445

$17.713 657.575 216,911 475,616 663.212 1.274,719 929.603 967.101 1.006.291 1,0946.611 1,081.301 1.13i.427 1.176.020 1.222.136 1.269,826 1.319.145 1.370.149 1.422.894 1.477.440 1.535.850 9.192.151 1.652.513 1.714.900

$14.237.60W4 14.62.930 9

91.226.10 t0 15.197.771 II 15.761.625 12 i6.553.599 13 7,103.147 14 7.33.029 Is 7,49.900 16 7.836.165 17 9.379.590 Is 10.964.349 19 92.544.700 20 14.456-195 21 16.316.900

_2 17.731.693 23 19,630,188 24 21.05S.751 25 22.800.747 26 24.705.819 27 21.221.1$5

. 21 28,325,1217 29 29,466.796 30 30.647,453 31 11.561.419 12 31.131.102 313 34.416.895 34 35.791.281 315 37.1ij.753 36 38.627.975 37 40,121.4U6 38 41.666.0091 39 41.263.261 40 "4.91S.067 41 46.623.213 42 48,3.19,5.14 43

$0.216.713 44

$2.10S.910 45 s0 0

0 0

0 1.280.640 1.290.640 1.279.360 1,276.640 I.70J3.20 55J,760 1.276.640 1.213..60 1.519.3140 1,321,980 1.120.660 205.765 205,765 205,765 205.765 205.76S 205,765 205,765 205,765 205.765 20S.765 205.76S 205,765 205,765 205,76S 205.765 205.765 205.65 205.76$

S1.117.240 44J.094 147.301 623.452 711.934 swl.wb

-305413 9.010 609.810 233.314 132.669 453,967 686.710 191,930

$40.111 594.163 190.702 264.784 "689.334 1.173.,45, 945.508 91.2137 1.029.012 1.071.150 1,114,785 I. 159.155 1.206.522 1.254.751 1.304.621 1.356.205 1,409.549 1.464.712 1.521.759 1.510.754 1.641.764 1.704.857 1.770,104 S15..396.791

$14,317.940 15,505.140 15,945.234 16.0955.13 16,71.987 17.430,029

,7,962.441.1 7.6916.090 7,626.000 1,2315.10 9,749.764 11,163.071 12.896.400 14.159.750 16,755.200 15,149,141 20,019,944 21.694.006 23.275.130 25.259.444 27.783.1557 2.,938,111 30,.132,1.34 31,366.991 32.643.517 33.964.410 31,330.060 36.742.347 38.202864 3.9,71.3257 41,275.230 42,890.545 44.561,022 46.2111I547 48.075.066 49.922,595 51.133.217 53.109,037 so 0

0 0

U 0

0 1.410,740 1.490.740 1.479.260 1.430.740 1.974.320 "917.960 1o480.740 1.479.260 1,439.290 1.442.160 1,440.720 12.296 192.296 192.296 192.296 192.296 192.296 192.296 192.296 192.296 192.296 192.2%

192.29 192.296 192.296 192.296 192.296 192.2%6 1.I37.550 55.152.43.

44 192.296 1.965.234 19,795.493 S1.440.621 31S.474 297.451 931.298 1,051.175 163.67

.12.g49 175.102 261.546

.19.451 411,663 "682.114 142.126 726.204 19.1.858 366.650 471.854 731.960 9,540.511 1.025.492 1.070.112 1.1 1j.291 9,917.011 1.203.900 1.251.673 1.300,954 19AS1.910 1,404.717 1.459.255 1,515,655 1.571.912 1.634.300 I.696.79 1.761.157 1.227.899 1.l940.11 Pagc 10 IINI" I

,llk9L3.9 IrINIT 3 G:RANDl Tor('.

16.317.412 17.222.516 17.520.367 15.453.665 199.534.43 7.106.101 7.676.749 7.664.300 5.242.402 9.914.911 11.446.277 13,137.200 9.*100014 17.616.500 19,129,"64 20.404,492 23.2SOA02 25.161,536 271.3315.656

10. 196.I87 1.317.67S 3.2600,153 3.,90S.744 15.215.922 36.6521206 35.096.177 39.559.417 41.133.7.14 42.730.747 "44.382.291 46.090,250 47.856,521 49.681.125 51.572,100 S.1,5215583 55.545.775 17.634.962 1.779.419 54.019.76S 46 S44.022.295 SO S3.183.117 47.205.482 0

9,192,445 45.397,930 0

415.743 45.513.673 0

2.120.604 50.934.277 0

2.585,056 53,519.,63 0

.1026.634 IL2,50.W1S1 0

-269.257 22.626.76" 0

.1.432 22.640.200 0

1.74,177 24,514.177 4.002.000 797.955 29,1i4.312 4,002.000 357,.367 33.,473.699 3.99,000 1.306.601 31.771*300 3.9911.000 2.039,799 44,596.00 J.321000 540.501 S0.618.600 2,668.000 1,154.095 55.210.695 3.9911.000 1.545.926 61.054.624 41.02.400 973.,.15 6.030.159 3.991,000 1.212.254 71,240.413 4,006.000 2.014,506 77.330.919 4.002.000 3.7U5.8 1155129.60I2 572.4111 2.906,903 55.,600.912 572.428 3.025.722 921.99g,52 172.4218 3.145.199 95.920.108 572.425 3.275.672 99.768.200 572.428 J.407.084 103,747.720 572.428 3.542,985 107.86.132 172.428 3.681.526 12..119.056 172.428 3.8285.67 116.520.380 572.425 3.979.171 121.071.979 172.428 4.134,605 125.779.015 572,42 4,295.3153 130,646.796 572,428 4,461.519 135.68015 1

$72.428 4.63.500 140,586.739 572.421 4.11.282 M46.270.449

$72.425 4.9'95.136 911.538,012 572,425 5.185.268 157.595.708 572.425 5,351,.93 161,550,029 172.428 1,555.233 169.707.690 Il fl.f! 4) k 0 I'll I A JI " I I AL I,

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SCPPA PALO VERDE UNIT 1 FUNDING PLAN 100%

i I

, I 900/

80%I I

i I

9.

70%

IAC U cL 60%

M I

I T"

50%

Iii 10%

I tu 40%

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1991 1994 190 23 2ACTUAL 20%

_ [...i Fo 10%

1991 1994 1997 2000 2003 2006 2009 2012 2011.

2018 2021 2024 Page 12 YEAR

SOUTHERN CALIFORNIA PUBLIC POWER AUTilORITY 2000 PALO VERDE UNIT - I FUNDING STATUS TERMINATION COST FUNDING (S TlOUSAND)

I I

(-0)

3)

AUTIIORIZED FUNDING PLAN YEiAR FUND EST. COST

%FUNDED (44 (5),*(3%*4)

(6) - ( I K 41 FUNDING FLOOR CURVE CRITERIA PERCENT AMOUNT t7)

(8) - (2)

(,)-(18)

ACTUAL FUNDING FUND EST. COST

%IFUNDED

$15,227 15,762 7,103 7,350 9,380 12,545 16,317 19,630 22,801 S16,565 26,915 28,530 30,242 26,629 28.227 29,920 32.953 34,930 92%

59%

25%

24%

35%

44%

55%

60r/o 65%

27221 37.026 74%

DEC 1991 DEC 1992 I)EC 1993 DEC 1994 DEC 1995 DEC 1996 DEC 1997 DEC 1998 DEC 1999

[)I'C 2000 DEC 2001 DEC 2002 DEC 2003 DEC 2004 DEC 2005 DEC 2006 DEC 2007 DEC 2008 DEC 2009 DEC 2010 DEC 2011 DEC 2012 DEC 2013 DEC 2014 DEC 2015 DEC 2016 DEC 2017 DEC 2018 DEC 2019 DEC 2(120 DEC 2021 DEIC 2022 DEC 2023 DEC 2024 DI'C 2025 S4,225 5,176 6,782 7.597 7,190 9,033 10,771 13.181 15.369 17,032 20,016 22,465 25,136 28,047 31,216 34.665 38,415 41,900 46.290 50,394 55,526 60,348 65,548 71.155 77,199 83,712 80,431 86,826 93,665 114,288 120,002 126,0O3 132,3(3 138,918 145,864

$16,565 26,915 28.530 30,242 26.629 28,227 29,920 32,953 34,930 37,026 39.248 41,602 44,098 46,744 49,549 52,522 55,673 59,014 62,555 66,308 70,286 74,503 78,974 83.712 88,735 94,059 99,702 105,685 112.026 118,747 124.685 130,919 137,465 144,338 151,555 26%

19%

24%

25%

27%

32%

36%

40%

44%

46%

51%

54%

57%

60%

63%

66%

69%

71%

74%

76%

79%

81%

83%

85%

87%

89%

91%

93%

95%

100%

1001ý6*

S0%

80%

81%

82%

83%

84%

85%

86%

87%

88%

89%

90%

91%

92%

93%

94%

95%

100%

20%

15%

19%

20%

21%

25%

29%

32%

35%

37%

40%

43%

46%

48%

51%

54%

57%

60%

63%

65%

68%

71%

74%

77%

80%

82%

85%

88%

91%

100%

S3,380 4,141 5,426 6,078 5,752 7,226 8,617 10.545 12,295 13,626 16,013 17,972 20.109 22,437 25,285 28,425 31,884 35,196 39,347 43,339 48,308 53,106 58,338 64,040 70,251 77,015 74,801 81,616 88.982 114,288 120,002 126,003 132,303 138,918 145,864 Page 13

SCPPA PALO VERDE UNIT 2 FUNDING PLAN 100%

I A T ALI c Ml IT Ile 70%

SI 60%

0%

oI w

400 30%

[

COMMi 20%/

10%

I i--

ACTUP 0%.

IJ' IFLOOF 1991 1994 1997 2000 2003 2006 2009 2012 201~5 2018 2021 2024 YEAR Page 14

SOUT'IERN CALIFORNIA I'UBLIC POWER AUT'IORITY 2000 PAI.O VERDE UNIT-2 FUNDING STATUS TERMINATION COST FUNDING (S TIIOIISANI))

(1), 12 *.*1)

2) t.4

()

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4)

7)

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()"7

. A(JTIIORIZED FUNDING PLAN FUNDING FLOOR CURVE ACTUAL FUNDING YEAR FUND EST. COST

%FUNI)HiI)

CRITERIA PERCENT AMOUNT FIUNI)

EST. COST

%FUNDEI)

DEC DEC DEC DEC DEC DEC DEC DEC DEC 1)EC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DI-C DEC I)EC I)EC 1991

$3.966 1992 4,932 1993 6,548 1994 8,515 1995 8,568 1996 10,254 1997 12,112 1998 14,916 1999 17,282 200()

19,488 2() 1 21,897 2002 24.962 2003 27.853 2004 31,00(0 2005 34,425 2006 37,596 2007 41,610 2008 45,970 2009 50,045 2010 55,142 2011 59,931 2012 65,095 2013 70,663 2014 76,665 2015 84,068 2016 91,092 2017 98,657 2018 105,689 2019 114,388 2020 123,752 2021 132,502 2022 139,127 2023 146,083 2024 153,387 2025 161,057 2026 169,110 S16.423 26,483 28,072 29,756 27,640 29,298 31,056 34,689 36.770 38,976 41,315 43,794 46.421 49,206 52,159 55,288 58,606 62,122 65,849 69,800 73,988 78,428 83,133 88,121 93,409 99,013 104,954 111,251 117,926 125,002 132.502 139,127 146,083 153,387 161,057 169,110 24%

19%

23%

29%

31%

35%

39%

43%

47%

50%

53%

57%

60%

63%

66%

68%

71%

74%

76%

79%

81%

83%

85%

87%

90%

92%

94%

95%

97%

99%

100%

80%/.

80%

81%

82%

83%

84%

85%

86%

87%

88%

89%

90%

91%

92%

93%

94%

95%

100%

$3,173 3,946 5,238 6,812 6,855 8,204 9.690 11,933 13,825 15,590

$15,948 16,719 7,962 7,626 9,750 12.896, 16,755 20,020 22.801

$16,423 26,483 28,072 29,756 27,640 29,298 31,056 34,689 36,770 107 'IA (ni;f 19%

15%

19%

23%

25%

28%

31%

34%

37%

40%

43%

45%

48%

50%

53%

55%

58%

61%

64%

67%

70%

72%

75%

78%

81%

83%

86%

89%

91%

94%

100%

Page 15 97%

63%

28%

26%

35%

44%

54%

58%

62%

710/6I 17,517 19,970 22,282 24,800 27,540 30,453 34,120 38,155 42,038 46,871 51,540 56,633 62,184 68,232 75,661 82,894 90,764 98,290 107,525 117.564 132,502 139,127 146,083 153,387 161,057 169,110 J. l t l O*t JO ;I #*

D-

SCPPA PALO VERDE UNIT 3 FUNDING PLAN

.100%/lIIl I*l~

1 1 1 1 IIIII 90%

"t I

I..

i

,i lIi 80%l. I Iii I

700 AC1'AI c~~I Lu 60%

50%

z tu 40°1%

'I.

,I

__2000 FUNDING STATUS 30%°1 I

AMOUNT PERCENT r

COMMITTED

$19.697.000 47%

20%

I ACTUAL

$30,117,000 72%

10%..........

I-"FLOOR

$15,757,000 38%

.-_Ii - I-J - J 1991 1994 1997 2000 2003 2006 2009 2012 2015 2018 2021 2024 2027 YEAR Pagc 16

SOUTIIIERN CALIFORNIA PUBLIC POWER AUTHORITY 2000 PALO VERDE UNIT - 3 FUNDING STATUS TERMINATION COST FUNDING (S TIOUSAND)

(Il"2

3)

(2)

(3)l (4)

(5) - 0] A 4)

16), (I X. 4)

(7)

()-()

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8

AUTIIORIZiI) FUNDING PLAN FUNDING FLOOR CURVE ACTUAL FUNDING YEAR FUND EST. COST

%FUNDEI)

CRITERIA PERCENT AMOUNT FUND EST. COST

%FUNDED DI.C 1991

$3.098 S18.225 17%

80%

I)EC 1992 4,125 28.298 15%

80%

DI:C 1993 5,769 29,996 19%

80%

L)EC 1994 8.375 31,796 26%

80%

DEC 1995 9.051 31,209 29%

80%

DEC 1996 10,917 33,082 33%

80%

DEC 1997 12.624 35,066 36%

80%

DEC 1998 14.919 37.298 40%

80%

DEC 1999 17,396 39,536 44%

80%

SDEC 2000 19,697 41,908 47%

80%

DEC 2001 22,21 I 44,422 50%

80%

DEC 2002 24,956 47,088 53%

80%

DEC 2003 27.951 49,913 56%

80%/0 DEC 2004 31.216 52,908 59%

80%/4 DEC 2005 34,771 56,082 62%

80%

DEC 2006 38.046 59,447 64%

80%

DEC 2007 42.219 63,014 67%

80%

DEC 2008 46,088 66,795 69%

81%

DEC 2009 50,978 70,802 72%

82%

DEC 2010 55,537 75,051 74%

83%

DEC 2011 60,461 79.554 76%

84%

DEC 2012 66,618 84,327 79%

85%

DEC 2013 72,403 89,386 81%

86%

DEC 2014 78,642 94,750 83%

87%

DEC 2015 85,369 100,435 85%

88%

DEC 2016 92,621 106,461 87%

89%

DEC 2017 99,306 112,848 88%

90%

DEC 2018 107.657 119,619 90%

91%

DEC 2019 116.653 126,796 92%

92%

DEC 2020 126,340 134,404 94%

93%

DEC 2021 135,345 142,468 95%

94%

DEC 2022 151,016 151,016 100%

100%

DEC 2023 158.567 158.567 100%

100%

DEC 2024 166.496 166,496 100%

100%

DEC 2025 174,820 174,820 100%

100%

DEC 2026 183,561 183,561 100%

100%

DEC 2027 192,739 192,739 100%

100%

14%

12%

15%

21%

23%

26%

29%

32%

35%

38%

40%

43%

45%

47%

49%

52%

54%

56%

59%

62%

64%

67%

69%

72%

74%

77%

80"/h 82%

85%

87%

90%/0 100%

100%

S2,478 3,300 4,615 6,700 7,240 8,734 10,099 11,935 13,917 15,757 17,769 19,965 22,361 24,972 27,817 30.437 33,775 37,332 41,802 46,096 50,787 56,625 62,267 68,419 75,125 82,432 89,376 97,968 107,320 117,496 127,224 151,016 158,567 166,496 174,820 183,561 192,739 S17,223

$18,225 18,454 28,298 7.830 29,996 7,664 31,796 9,985 31,209 13,337 33,082 17,617 35,066 21,404 37,298 25,162 39,536 30.117 41,908 Page 17 95%

65%

26%

24%

32%

401/

5090/

57%

64%

72%1 I

SCPPA PALO VERDE ALL UNITS FUNDING PLAN 100%

90%

80%

70%

u 60%

a z LL 50%

z w w40%

a.

30%

20%

10%

0%

Page 18 1994 1997 2000 2003 2006 2009 2012 2015 2018 2021 2024 2027 YEAR 1991

SOUTIIERN CALIFORNIA IPUBLIC POWER AUTIhORITY 2000 PALO VERDE AI.L UNITS FUNDING STATUS TERIFNATION Cor FUNDING (IN ThOUSANDS)

S

)(

I)

AUTHORIZED FUNDING PLAN YEAR FUND EST. COST

%FUNDED DEC DEC DEC DEC DEC DEC DEC DEC DEC lEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC IWrC DEC 1991 1992 1993 1994 1995 1996 1997 1998 19)9 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2(127 S11.289 14,233 19,099 24.487 24,809 30,204 35,507 43,016 50,047 56,217 (A.124 72,384 80,940 90,262 100,412 110.307 122,244 133,958 147,314 161,074 175,917 192,061 208,614 226,463 246,636 267,425 278,394 300.172 324.706 364,379 387,849 416,146 436.953 458,801 481.741 352,671 192.739 S51,213 81,696 86,598 91,794 85.478 90,607 96,043 104,939 111.236 117,910 124,984 132,484 140,433 148,859 157,790 167,257 177,293 187,930 199,206 211,159 223,828 237,258 251.493 266.583 282,578 299.533 317,505 336.555 356.748 378,153 399,655 421,062 442,115 464.221 487,432 352,671 192.73')

22%

17%

22%

27%

29%

33%

37%

41%

45%

48%

51%

55%.

58%

61%

64%

66%

69%

71%

74%

76%

79%

81%

83%

85%

87%

89%

88%

89%

91%

96%

97%

99%

io0%

100%

(,I)(*)"13

4)

(6.)-(l % 4)

47)

(1) -42) i(9) -l712 )

FUNDING FLOOR CURVE ACTUAL FUNDING CRITERIA PERCENT AMOUNT FUND EST. COST

%FUNDED 80%

80%

800%

800/.

80%

81%

82%

83%

84%

85%

86%

87%

88%

89%

90%

91%

92%

93%

94%

95%

96%

97%

100%

18%

14%

18%

21%

23%

26%

30%

33%

36%

38%

41%

44%

46%

48%

51%

54%

57%

60%

63%

66%

68%

71%

74%

77%

79%

82%

85%

87%

90%/0 94%

95%

100%

S9,031 11,386 15,279 19,590 19,847 24,163 28,406 34,413 40,037 44.973 51,299 57,907 64,752 72.210 80,641 89,315 99,780 110,683 123,187 136.306 150,635 166,364 182,788 200,691 221,037 242,342 254,941 277,875 303.827 349,348 379,728 416,146 436,953 458,801 481,741 352,671 192,739

$48,398 "50,935 22,895 22,640 29,115 38,778 50.689 61,054 71,240 85,122 S51.213 81,696 86.598 91,794 85,478 90,607 96,043 104,939 111,236 95%

62%

26%

25%

34%

43%

53%

58%

64%

72%0 Page 19 117.910 i

Palo Verde Nuclear Generating Station Units 1, 2, & 3 LADWP 2000 Annual Funding Status Report Section 2.1.7 [Restated]

Summary of Major Assumptions Escalation Factor Rate of Return Participation Ratio Funding Period Funding Level Appendix B, Tab 7 5%

7.00%

5.7%

35 years for each unit Includes Water Reclamation Facility and 25% Contingency Factor 1570074 PJH 3/6I2001

Department of Water & Power Palo Verde Project Termination Cost Funding ml..:,,

II Unit 2L a[

I l 2.

$.1anc EM, ontriolurlOl interest Unit 3 I i Grand Toutl J

Period Contribution InCcrest flanc contributio Interest Totas 106.706 423,941 116,869 104.872 90.54 87.753 111,532 (131,334) 404,898 262,538 260,302 258,223 247,064 565,373 7383933 "996,203 2,444.200 2,774,)32 3,426,499 3,766,694 4.305,593 4,841,992 5,361.664 5,905,115 6,205,700 7,042,517 9.060,617 11,076,481 12.923,100 14,763,560 16,927,329 19,260.153 21,349,762 (214.470) 23,264,510 12/31/90 6/30/91 12/31/91 6/30/92 12/31/92 6/30/93 12/31/93 6/30/94 12/31/94 6/30/95 12/31/95 6/30/96 12/31/96 6/30/97 12/31/97 6/30/91 12/31/98 6/30/99 12/31/99 6/30/00 12/31/00 6/30/01 12/31/01 6/30/02 12131102 6/30/03 12/31/03 6/30O/04 12/31/04 6/30/05 12/31/05 6/30/06 12/31/06 6/30/07 12/31/07

(,!"O/O%

10 II 12 13 14 Is 16 17 Is 19 20 21 23 24 25 26 27 2R 29 30 31 32 33 34 35 36 37 33 39 40 41 42 43 44 45 232.478 105,780 232.473 490,438 232,478 111,934 423,694 129,716 421,072 173,551 414,334 93,888 414.884 10,343 414,384 (120,146) 414,334 339,916 1,669,739 235,585 1,669,739 197,615 1,753,112 211,610 1,753,112 233,202 1,753,112 583,350 1.753,112 794,564 1,753,112 653,344 1,750,953 113,871 0

346,764 0

304,598 0

1,536,294 e)3,443) 919,422 (93,443) 948,331 (93,443) 978.252 (93,443) 1,009,220 (93,443) 1,041,272 (93,443) 1,074,446 (93,443) 1,108.792 (93,443) 1,144,318 (93,443) 1,181,099 (93,443) 1,219,167 (93,443) 1,258,567 (93,443) 1,299,347 (93,443) 1,341,553 e)3,443) 1,385,237 e) 3.4.13) 1,430,450 2.159,244 2,497,502 3.220,418 3,564,830 4,113,240 4.712,363 5,221,635 5,646,362 5.941,600 6,696,400 8,601.724 10,469,073 12,433,S00 14,425,114 16,762,076 19,309,752 21,716,708 23,531,532 23,928,296 24,732,894 26,269,127 27,095,166 27,950,054 23,334,363 29,750,640 30,693,470 31,679.473 32,694,812 33,745.638 34,833,344 35,959,068 37.124,192 33,330,096 39,578,207 40,970.001 42,207.00H "17 270,890 270,890 270.390 464,724 477,502 462,937 462,987 462,987 462,987 1,334,499 1,384,499 1,963,492 1,963,492 1,963,492 1.963.492 1,963,492 1,929,829 0

0 0

(31,324)

(31.324)

(31,324)

(31.324)

(12.12.4) 71,900 432,437 77,462 34.937 111,010 52,475 47,978 (159,863) 295,915 131.86 152,131 150,991 134,312 399,527 549,326 511.371 1,493,407 1,836,197 2,539,524 2,887.876 3,437,537 4,026,049 4,5416511 5.052,476 5,355,600 6,114,502 3,210,887 10,217.517 12,332,000 14,480,304 16,843,323 19,356,141 21,331,004 (245,2S0) 23,515,553 223,326 223.326 223,326 434,027 445.545 431,919 431,919 431,919 431,919 1,755,562 1,755,562 1,593,396 1,593,396 1,593,396 1,593.396 1.593,396 1,629,218 0

0 0

(122,340)

(122.340)

(122,340)

(1 22.340) 23.831,616 24,609,978 26,233,492 27,120,340 23,033.228 28.983,242 29,971,507 30.989,135 32,042,483 33,132,646 34,260,964 35,423.774 36,637,457 37,998,444 39.183.215 40.523,304 41.910,295

I1. 14S.8 12 0

726,694 726,694 726,694 1,322,445 1,344,119 1,309,790 1,309,790 1,309,790 1,309,790 5,309,800 5,309,300 5,310.000 5,310.000 5,310,000 5,310.000 5,310.000 5,310,000 0

0 0

0 6.096.851 284,386 7,107,931 1,351,816 9.136.441 306,265 10,219.400 319.525 11,861,370 375,415 13,530,904 234.116 15,124.810 169,853 16,604,453 (411,343) 17,502,900 1,040,729 19,853,419 6*0,009 25,343,223 610.048 31,763,076

.620,324 37.693,900 670,073 43,673.973 1.549,250 50,533,228 2.032.23 57,926.051 2,161,423 65.397.474 (345,379) 70.361,595 374,172 71.235,767 2,435,356 73.671,623 4,925,450 73,597.0741 (247,107) 2,750,898 81.100,865 (247.107) 2,838,530 83.692,231 (247,107) 2.929,230 86.374.412 (247.107) 3,023.104 39.150,410 (247,107) 3,120,264 92,023,567 (247,107) 3,220.825 94,997.286 (247,107) 3,324.905 93,075,084 (247,107) 3,432.623 101.260.606 (247,107) 3,544,121 104,557,620 (247,107) 3,659,517 107.970,030 (247,107) 3,778,951 111,501,975 (247,107) 3,902,566 115,157,334 (247,107) 4,030,507 118.940.734 (247,107) 4,162.926 122,856.553 (2.17.107)

.1I299.979l 126,9o0'l.42(6 I'..,.,

ItC, 211,345 352.97 1,765,642 913,304 940,988 969,640 999,296 1,029,989 1,061.757 1,094,637 1,128,667 1,163,888 1,200.343 1,238,073 1,277,123 1,317,541 1,359,373 1,402,66'1 23.475,855 24,328,752 26,094.394 26,385,353 27,704,006 28,551,307 29,423,263 30,335,912 31,275,330 32,247,627 33,253.954 34,295,503 35.373.506 36,489,239 37,644,023 38,839,224 40,076,257 412,5(,,586 316,063 773,362 1,623,514 912,172 949.212 931,333 1,014,533 1,049,003 1,034,621 1,121.497 1,159,643 1,199,134 1,240,007 1,232,311 1,326,096 1,371.413 1,418.314 1,.l¢*6.x(,O "it.

wO I

-u II I

Di Period Contribution lntC9/

Department of Water & Power Palo Verde Project Termination Cost Funding Unit I

[

Period Contribution Interest Dl nc I

D~atc 12/31/08 6/30/09 12/31/09 6/30/10 12/31/10 6/30/11 12/31/11 6/30/12 12/31/12 6/30/13 12/31/13 6/30/14 12/31/14 6/30/15 12/31/15 6/30/16 12/31/16 6/30/17 12/31/17 6/30/1i 12/31/18 6/30/19 12/31/19 6/30/20 12/31/20 6/30/21 12131121 6/30/22 12/31/22 (122,340)

(122,340)

(122.340)

(122,340)

(122.340)

(122,340)

(122.340)

(122,340)

(122,340) 1,447,481 1,493,860 1.541,864 1,591.547 1,642,969 1.696,191 1,751,276 1,808,289 1,867,297 1,928,371 1,991,532 2,057,005 2.124,719 2,194,302 2,267,338 2,342,413 2,420,115 2.500,538 2.533,775 2,669,925 2,759,090 2,351,377 2,946.393 3,045,752 3,148,072 42,681,727 44,053,243 45,472,772 46,941,930 43,462,609 50,036,461 51,665,398 53,351,347 55,096,304 56,902,335 58.771,578 60,706,243 62,708,622 64,781,004 66,926,083 69,146,156 71,443,932 73,822,130 76,233,565 78.831,150 81,467,901 84,196,937 87,021,491 39,944,903 92.970,636 44 45 46 47 43 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 63 69 70 I Insr 2 II Unit 3 Period Contribution interest ialance (93.443)

(93,443)

(93.443)

(93,443)

(93.443)

(93,443)

(93.443)

(93,443)

(93.443)

(93,443)

(93*,44.)

(93.443)

(93,443)

(93,443) 1,477,245 1.525,678 1,575,807 1,627,639 1.681,383 1.736,966 1.794,439 1,354,026 1,915,646 1,979.424 2,045,433 2,113,752 2,184,463 2,257,649 2,333,396 2,411,795 2,492,937 2,576,919 2,663,841 2.753,805 2,346,917 2,943,289 3,043,034 3,146,269 3,253,118 3,363,707 3.478,166 43,590,311 45,023,046 46.505,410 4B,039,656 49,627,601 51,271.125 52,972,171 54,732.754 56,554,958 53.440,933 60,392,923 62,413,233 64,504.253 66,668,464 63,903,413 71,)26,770 73,626,264 76,109,740 78,680,138 31.340,500 34,093,975 36,943,821 39,893,412 92.946,238 96,105,914 99,376.178 102.760,899 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 (31.324)

(31,324)

(31.324)

(31,324)

(31.324)

(31,324)

(31.324)

(31,324)

(31.324)

(31,324)

(31.324)

(31,324)

(31.324)

(31,324)

(31.324)

(31,324) 1,517,104 1,569,106 1.622,929 1,678,635 1,736,291 1,795,965 1,857,727 1,921,651 1,987,313 2,056,290 2,127,164 2,200,518 2,276.440 2,355,019 2,436,343 2,520,524 2,607,646 2,697,317 2,791,144 2,387,733 2,997.713 3.091,186 3,198,281 3,309,125 3,423.,48 3.542,536 3,665,430 3,792,676 3,924,323 44,331,612 46.369,394 47.960,999 49,608,310 51,313,276 53.077,917 54,904,320 56,794,647 58,751,136 60,776,101 62,871,941 65,041,135 67,286,250 69,609,945 72,014,969 74,504,169 77,030,491 79,746,984 82,506,304 85.363,218 83,319.607 91,379,469 94,546,427 97,824.227 101,216,751 104,728,014 108,362,170 112,123,522 116,016,520 II Grand Total Contributio Interest Daub (247,107) 4,441,330 (247,107) 4,533,645 (247,107) 4,740,599 (247,107) 4,397,371 (247,107) 5,060,648 (247.107) 5,229,122 (247.107) 5,403,493 (247.107) 5.533.966 (247,107) 5,770,756 (247,107) 5,964,084 (247,107) 6,164,173 (247,107) 6,371.276 (247,107) 6,585,622 (247,107) 6.07,470 (247,107) 7.037,082 (247,107) 7,274,731 (247,107) 7.520,693 (247,107) 7,775,274 (247,107) 3,033,760 (247,107) 8,311,463 (247,107) 8,593,720 (247,107) 3,85,352 (247.107) 9,133,203 (247,107) 9.501,147 (247.107) 9,825,033 (124,767) 6,906,293 (124.767) 7,143,647 (31.324)- 3.792.676 (31,324) 3.924.323 131,104,150 135,445,633 139.939,181 144,539.946 149,403,417 154,335,503 159,541,839 164,873,743 170,402,393 176,119,375 132,036,447 188.160.616 194,499.131 201,059,494 207.349.470 214,877,094 222,150,686 229,678,854 237,470,507 245,534,868 253.981.482 262.520.227 271,461.329 230.715.369 290.293.301 204,104.191 211.123,069 112.123.522 116,016.520 Pagc I I 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 U

i 2..

.II.

B I

Pro ontibutioEnees aa

DWP PALO VERDE UNIT 1 FUNDING PLAN COMMITTED --

FLOOR 6 ACTUAL

-..'Tr-Z----Z*4I---1 I I

-F--T SAMOUNT COMMITTED 13,348 ACTUAL

.23,476 FLOOR 10,679 2009 2012 2015 2

Year Page 12 100%

90%

80%

70%

U U4 U

U I..

6) 60%

50%

40%

30%

20%

10%

0% I 1991

DEPARTMENT OF WATER & POWER 1999 PALO VERDE UNIT I FUNDING STATUS TERMINATION COST FUNDING (In Thousand $)

(1)

(2)

(3)

(4)

(5)

(6)

(7)

(8)

(9)

Authorized Funding Plan Funding Floor Curve Actual Funding MQRmh Y-Gr Eun E3CIL FundW Criteri Percnt S Amoun fund Est CotFundi (2) X (3)

(3) X (4)

(1) X (4)

(7)/($)

DEC 1991 3,261 15,677 21%

80%

17%

2,609 3,426 15,677 22%

DEC 1992 4,330 25,832 17%

80%

13%

3,464 4,306 25,832 17%

DEC 1993 5,513 27,124 20%

80%

16%

4,410 5,362 27,124 20%

DEC 1994 6,780 28,430 24%

80%

19%

5,424 6,206 28,480 22%

DEC 1995 6,934 25,682 27%

80%

22%

5,547 9,061 25,632 35%

DEC 1996 8,359 26.966 31%

80%

25%

6,638 12,928 26,966 48%

DEC 1997 9,627 28,314 34%

80%

27%

7,702 16,928 28,314 60%

DEC 1998 11,759 31,732 37%

80%

30%

9,407 21,850 31.782 69%

DEC 1999 13,348 33,371 40%

80%

32%

10,679 23.476 33,371 70%

DEC 2000 15,067 35,040 43%

80%

34%

12,054 26,094 35,040 74%

DEC 2001 16,924 36,792 46%

80%

37%

13,539 DEC 2002 18,929 38,631 49%

80%

39%

15,143 DEC 2003 21,093 40,563 52%

80%

42%

16.874 DEC 2004 23,425 42,591 55%

80%

44%

18,740 DEC 2005 25,938 44,720 58%

81%

47%

21,010 DEC 2006 28,643 46,956 61%

82%

50%

23,488 DEC 2007 31,555 49,304 64%

83%

53%

26,190 DEC 2008 34,686 51,770 67%

84%

56%

29,136 DEC 2009 37,507 54,358 69%

85%

59%

31,881 DEC 2010 41,095 57,076 72%

86%

62%

35,341 DEC 2011 44,947 59,930 75%

87%

65%

39,104 DEC 2012 49,082 62,926 78%

88%

69%

43,193 DEC 2013 53,519 66,072 81%

89%

72%

47,632 DEC 2014 57,582 69,376 83%

90%

75%

51,324 DEC 2015 62,647 72,345 86%

91%

78%

57,008 DEC 2016 68,074 76,437 99%

92%

82%

62,623 DEC 2017 73.887 80,312 92%

93%

36%

63,715 DEC 2018 79,267 84,327 94%

94%

88%

74,511 DEC 2019 35,887 83,543 97%

95%

92%

81,593 DEC 2020 92,971 92.971 100%

96%

89,252 DEC 2021 97,619 97,619 100%

97%

94,691 DEC 2022 102,500 102,500 100%

98%

100,450 DEC 2023 107,625 107,625 100%

99%

106,549 DEC 2024 113,006 113,006 100%

100%

113,006 DEC 2025 113,657 113,657 100%

100%

118.657 n..'. -I.)

DWP PALO VERDE UNIT 2 FUNDING PLAN 90%IM

-*FLOOR A=A 90%

80%

70%

.*60%

50%

40%

-2000 FUNDING STAT 30%

.$AMOUNT COMMITTED 15,492 20%

ACTUAL 26,269 109 FLOOR 9

2,393 1991 1994 1997 2000 2003 2006 2009 2012 201Y 2018 2021 2024 Year 1.ag1 I.I

DEPARTMENT OF WATER & POWER 1999 PALO VERDE UNIT 2 FUNDING STATUS TERMINATION COST FUNDING (In Thousand $)

(1)

(2)

(3)

Authori7ed Funding Plan Mnnh Xut Fuud E

aa %Eunted (2) X (3)

DEC 1991 3,055 15,542 20%

DEC 1992 4,104 25,418 16%

DEC 1993 5,237 26.689 20%

DEC 1994 6,449 28,023 23%

DEC 1995 6.931 26,658 26%

DEC 1996 8.397 27,991 30%

DEC 1997 9699 29,390 33%

DEC 1993 12,044 33,456 36%

DEC 1999 13,700 35,129 39%

-DEC 2000 15,492 36,885 42%

DEC 2001 17,428 33,730 45%

DEC 2002 19,520 40,666 48%

DEC 2003 21.777 42.699 51%

DEC 2004 24,210 44,834 54%

DEC 2005 26,363 47.076 56%

DEC 2006 29,164 49,430 59%

DEC 2007 32,179 51,901 62%

DEC 2003 35,423 54,496 65%

DEC 2009 38,338 57,221 67%

DEC 2010 42,058 60,082 70%

DEC 2011 46.053 63,036 73%

DEC 2012 50,343 66,241 76%

DEC 2013 54,251 69,553 78%

DEC 2014 59,155 73,030 81%

DEC 2015 64,413 76,682 84%

DEC 2016 69.244 80,516 36%

DEC 2017 75,242 34,542 39%

DEC 2013 31,667 88,769 92%

DEC 2019 88,547 93,207 95%

DEC 2020 93,953 97.863 96%

DEC 2021 102.761 102,761 100%

DEC 2022 107,399 107,399 100%

DEC 2023 113.2M4 113,294 100%

DEC 2024 118,959 113,959 100%

DEC 2025 124,907 124,907 100%

DEC 20?6 131,152 131,152 100%

(4)

(5)

(6)

Funding Floor Curve CP er c tA m olu n (3) X (4)

(1) X (4) 80%

80%

30%

80%

30%

10%

20%

830%

30%

80%

90%

31%

92%

83%

94%

35%

96%

97%

39%

90%

91%

92%

93%

94%

95%

96%

97%

93%

99%

100%

16%

2.444 13%

3,283 16%

4,190 18%

5,159 21%

5,545 24%

6,713 26%

7,759 29%

9,635 31%

10,960 34%

12,393 36%

13,943 33%

15,616 41%

17,421 43%

19,363 45%

21.090 48%

23,622 51%

26,337 54%

29,401 56%

32,204 60%

35,749 63%

39.606 66%

43,793 69%

47,741 72%

52,648 76%

57,971 78%

63,012 32%

69,223 36%

75,951 39%

83,234 91%

39,255 96%

98.650 97%

104.662 93%

311,023 99%

117.769 100%

124,907 100%

131.152 (7)

(a)

(9)

Actual Funding Eund Fu-Cns

% Funded Em*

t.W(3) 3,220 15,542 (21 3.220 15.542 4,118 2S,418 5.222 26,639 5,942 28,023 8,602 26,658 12,434 27,991 16,762 29,390 21,717 33,456 23,928 35,129 26e269 36.885 21%

16%

20%

21%

32%

44%

57%

65%

68%

71%1 Pipe~ 1.5

DWP PALO VERDE UNIT 3 FUNDING PLAN

commiTTED -m FLOOR ACTUA S...

.--LL LII.

A---

W-AL.-

1994 1997 2000 2003 2006 2009 2012 2015 2018 2021 Year 2024 2027 Pige 16 100%

90%

80%

70%

60%

50%

40%

30%

20%

10%

10 u

C rd

v.

2 0% 1-1991 1.

DEPARTMENT OF WATER & POWER 1999 PALO VERDE UNIT 3 FUNDING STATUS TERMINATION COST FUNDING (In Thousand $)

Moanth X.=

DEC 1991 DEC 1992 DEC 1993 DEC 1994 DEC 1995 DEC 1996 DEC 1997 DEC 1998 DEC 1999 DEC 2000 DEC 2001 DEC 2002 DEC 2003 DEC 2004 DEC 2005 DEC 2006 DEC 2007 DEC 2003 DEC 2009 DEC 2010 DEC 2011 DEC 2012 DEC 2013 DEC 2014 DEC 2015 DEC 2016 DEC 2017 DEC 2013 DEC 2019 DEC 2020 DEC 2021 DEC 2022 DEC 2023 DEC 2024 DEC 2025 DEC 2026 DEC 2027 (1)

(2)

(3)

Authorized Funding Plan fEud Eu-Cost %unded (2) X (3) 2,452 17.248 3,452 27,160 4,636 28,518 5,905 29,944 6,923 30,100 8,217 31,605 9.956 33,185 11,871 35,973 13,598 37,772 15,467 39,660 17,490 41,643 19,676 43,725 22,038 45,912 24,586 43.207 27,334 50,618 29,763 53,149 32,925 55.806 36,330 58,596 39,992 61,526 43,284 64,602 47,483 67,832 51,994 71,224 56,837 74,785 61,249 78.525 66,785 82.451 72,722 36,573 78,176 90,902 34,948 95,447 92,202 100,219 99,969 105,230 108.252 110,492 116,017 116,017 121,17 121,317 127,903 127,903 134,304 134,304 141,019 141,019 148,070 148,070 14%

13%

16%

20%

23%

26%

30%

33%

36%

390%

42%

45%

48%

51%

54%

56%

59%

62%

65%

67%

70%

73%

76%

78%

81%

84%

86%

89%

92%

95%

98%

100%

(4)

(5)

(6)

Funding Floor Curve Cre*

rewm i Amount (3) X (4)

(1) X (4) 90%

80%

30%

90%

0%

90%

80%

50%

80%

81%

92%

83%

84%

85%

86%

87%

88%

89%

90%

91%

92%

93%

94%

95%

96%

97%

98%

99%

1('.

11%

1,962 10%

2,762 13%

3.709 16%

4,724 18%

5,538 21%

6,574 24%

7,964 26%

9,497 29%

10,378 31%

12,374 34%

13,992 36%

15,741 38%

17,630 41%

19,669 43%

21,967 45%

23.811 47%

26.340 50%

29,427 53%

32,793 56%

35,925 59%

39,885 62%

44,195 65%

48,880 68%

53,287 71%

53,771 75%

64.722 77%

70,358 81%

77,303 85%

84.826 88%

92.971 92%

101,785 95%

110,216 96%

116,945 97%

124,071 98%

131,618 99%

139,609 100%

148,070 (7)

(8)

(9)

Actual Funding Eund Est ost Fund (7)/(B) 2,540 17,243 15%

3,438 27,160 13%

4.542 28.518 16%

5,356 29,944 18%

8,181 30,100 27%

12,332 31,605 39%

16,543 33,185 51%

21,331 35,973 61%

23,832 37,772 63%

26,233 39,660.

66%1

DWP PALO VERDE ALL UNITS FUNDING PLAN

_l._J.. L I_ I_.J__L

_.L_.

L._fI_

COMMITTED --

FLOOR 6 ACTUVAL

.1-1 F.1 Z.7.-I -

I7--V I -'I 100%

90%

80% --

70% -

60%

50%

40%

30%

20%

10%

0%

1991 Page 18 0.l.

2000 FUNDING STATUS SAMOUNT P

COMMITTED 46,026 ACTUAL 78,596 FLOOR 36,821 I I t

i tI iI I

2009 2012 2015 2018 2021 Year

DEPARTMENT OF WATER & POWER 1999 PALO VERDE ALL UNITS FUNDING STATUS TERMINATION COST FUNDING (In Thousand $)

(1)

(2)

(3)

(4)

(5)

(6)

Authorized Funding Plan Funding Floor Curve Mnrh Y=

Fund En F

Cm

%fianded Cr Percent LAmoum (2) X (3)

(3) X (4)

(1) X (4) 80%

30%

80%

81%

82%

33%

84%

85%

86%

87%

38%

89%

90%

91%

92%

93%

94%

95%

96%

97%

98%

99%

100%

14%

7,014 12%

9,509 15%

12,309 18%

15,307 20%

16,631 23%

19,979 26%

23,425 23%

23,540 31%

32.517 33%

36,821 35%

41,474 33%

46,500 40%

51,926 43%

57.777 45%

63,707 47%

70,932 50%

79,260 54%

38,343 56%

97,303 59%

107,470 62%

119,095 66%

131,734 69%

144,854 72%

158,407 75%

174,460 73%

191,135 82%

209,120 85%

223,671 89%

250,638 92%

272,543 95%

296,316 97%

316.623 93%

335,382 "99% 356.274 100%

377,367 100%

272.171 100%

148.070 (7)

(8)

(9)

Actual Funding Eund Es.Cna

%EuFda (7)/(S) 9,186 48.467 11,862 73,410 15,126 82,331 17,504 36,447 25,844 32,440 37,694 86,562 50,533 90,890 65,398 101,211 71,236 106-T2 78,596 111,585 19%

15%

18%

20%

31%

44%

56%

65%

67%

70%1 DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC 1991 1992 1993 1994 1995 1996 1997 1993 1999 2000 2001 2002 2003 2004 2005 2006 2007 2001 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 8,768 11,886 15.386 19.134 20.788 24.974 29,281 35.675 40,646 46,026 51.343 58,125 64.907 72,221 79,634 87,570 96,659 106.438 115.837 126.436 138.483 151,419 164,607 177,986 193.844 210,039 227,304 245.883 266,636 286,892 308.662 326,416 342.736 359.873 377,867 272.171 148.070 48.467 78.410 82,331 86,447 82,440 36,562 90,890 101,211 106.272 111,585 117.164 123,023 129,174 135,632 142.414 149,535 157,011 164,862 173,105 181,760 190,848 200.391 210.410 220,931 231,977 243.576 255,755 268.543 281.970 296,069 310,872 326.416 342.736 359,873 377.867 272.171 148.070 18%

15%

19%

22%

25%

29%

32%

35%

38%

41%

44%

47%

5O%

53%

56%

59%

62%

65%

67%

70%

73%

76%

78%

81%

84%

86%

89%

92%

95%

97%

99%

100%

.1

.11 I

Palo Verde Nuclear Generating Station Appendix C, Tab 1 Master Trust Agreement APS 2000 Annual Funding Status Report APS reports that its Master Trust Agreement was amended on June 30, 2000.

A copy of the amendment is enclosed.

AppwndWW=

to 60.760(f Report (in Excell PJH 3/8101

.This Amendment No. 5, dated as of June _, 2000, to the Amended and Restated Decommissioning Trust Agreement (PNGS Uit 2), dated as of January 31, 1992, as amended by Amendment No. I thereto dated as of November 1, 1992,Amendment No..2 theeto dated as of November 1, 1994,.Amendment No. 3 thereto dat*d as of June 20, 1996, and Amendment No. 4 thereto dated as of December 16, 1996 (the wDecommissioning Trust Agreementterm se er as therein defined, is entered into between Arizona Public Service Company ("APS'), State Ste Bank and Trust Company, as successor. to The First National Bank of Boston, as Owner Trustee and as Lessor, and Mellon Bank, N.A., as Decomissioning Trustee ("Decommissio°nig Trustee').

BECIIALfi:"

WHEREAS, the. parties hereto wish to amend the investment parameters for the Decommissioning Trust Fund and the Second Fund contained in Exhlbit B to the Decommissioning Trust Agreemnt NOW, THEREFORE, in consideration of the premises and of other good and valuable consideration, receipt.and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

SA~M

!R!EM!NI S:

SECTION 1. Amendment.

Paragraph (0) of Exhibit B to the Decommissioning Trust Ageeent is hereby deleted and is replaced in its entirety by the following:

()

(x) corporate equity securities, including, but not limited to, investment in units of common or collective trust flmds investing in corporate equity seauilties; including. but not limited to, the Decommissioning Trustee's Nuclear Decommissioning.Trust Equity Index Fund (the "NDT Equity Index Fund")

and (Y) obligations not included in clauses (a) through (k) issued or guaranteed by a person controlled or supervised by and acting as an instrumentality of the United States of America pursuant to authority grante by the Congress of the United States of America, including Federal Intermediate Credit Bank Banks for Cooperatives, Federal Land Banks, Federal. Home Loan Banks, Federal Home Loan Mortgage Corporation; provided, that no ro.re than fifty percent (50%) of the aggregate assets of the Funds may be invested in securities desribed in (x) and (Y) of this subparagraph M during thA period from June 27, 1996 through December 31, 2003, no more'than thirty4percent (30%) during the period from January 1, 2004 through December 31, 2006, and no more than fifteen percent (15%) during the period from January 1 2007 through January 31, 2010; and provided further that after January 31, 2010, no investments shall be made in such securities.

SECTION 2. Effectiveness.

This Amendment No. 5 shall become effective as of the date hereof Upon the execution and delivery of a counterpart of this Amendment No. 5 by each of the parties hereto.

SECTION 3. Miscellaneous (a)

FuillForce and EffecL Exct as ev.xp y -provided herin, the Deconuissionirng. Trust Agreeent. shall remain unchanged and in fill force and effect, Each reference in the Decommissioning Trust Agreement and in any exibit or schedule thereto to "this Agreement," "hereto.' "hereof and terms of similar import shall be deemed to refer to the Decommissioning Trust Agreement as amended hereby.

(b)

Counterpart This Amendment No. 5 may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrme and any of the parties hereto may execute this Amendment No. 5 by signing any such counterpart (C)

Arizona Law.

This Amendment No. 5 shall be construed in accordance with and governed by the law of the State of Arizon."

' IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 5 to the Decommissioning Trust Agreement to be duly executed as of the day and year first above written.

ARIZONA PUBLIC SERVICECOMPANY

.

CV(A 4§fl Li) 1..XAAJ u '

-

MELLON BANK N.A., as DecommissioningTrustee By Thide e

1 SIAC)

C%TEiMBAM653.d9C 07/18/00 09:57 PAZ AL 17 20M 14:43 FR BFW OF MItRICA RD 005 P. 05/07 415 M

=

TO 916e22SW64e MELIM BAM NA,., as Decommimdo&g Trusm STAlt ffrRM BAM AM TRM COWANy. as oww Trotm unda a Thst Agmament with Secmity Padfic Capitd T dogm, cmporaiim wd as Lma mda a Faeft L=w wiffi Majoa Public &niw Con4my Byý

ý)ASSISTANT VICE P'RES IDENT STATE 1E1,Jkm,,#m TRUST COWANY.

ow= Tmam undcr a Tru-sl Agreemat with Emam Finanýe Co. and " Lemr widw a FactItY I== with Anzona Pubhc Servwc Conqmny

ý.JASSISTANT VICE PRESIDENT

. JL-MOMAnTMOMAPOM-dw STATE OF ARIZONA County ofMaricopa

)

)s.

The foregoing insumemt was acknowledged before me tfis S day of

.2000, by A

.,<, e, the "

of ARIZONA PUBLIC SERVICE COMPANY, an Arizona corporation, on behalf of said corporatior.

-mEm2LE I

STATE OF County of_

)ss.

)

"The foregoing instrument was ackmowledged before me this '/y'_ day of 2000, by 5j e.zi, Ao%&* -' a Trust Officer of MELLON BANK, NA, a corporation having trust powers, as Decomnissioning Trustee, on behalf of said corporation.

My comrission expires:

Lf n

Notw,

Saou My Con'EaM~cn Exis Noa. 1t, lko2 Muber, PemiA.tanja A-aac.Ioa of NOW1.,es C:\\TEM AP63.3d4c 07/18/00 09:58 FAX P.

Q007 3IJL. 1? 2000 1~4: 43 FR BAW CF AMEICA 415 765 7373 TM 9i60225056S P 0797 STATE OF vW4KS 6T-Eqrr COiMtyof SL~ffoLiL

)

The fo~e l

instrumenit was ackenowledged befoiw me thi

"-f$

day of

__________e 2000. byy~w Co-ea-h ~L*u "Ws)'4of STATE S1REETr BANK. AND TRUST COMPANY. a Massachseftt btru company, i its capacity as Owner Truste under a Truot Agrecnai with Secuity Pacific'Capita Lmaing Corportion and as Lesso inidr a Facility LIas with Ariz=n Public Service anon behalf of said association in much capacitims MY Nomnimsif expire J-AMES M.cooUY Notaty Pou!ft

- ss.

Conty of S k OL0L

)

The foreoig nstrmait was acknowledged before me this 11 U day of 2000, by

-- 3rok Coff v' toe 456is a-4 V k e hPrvsmIJ of STATE STREET BANK AND TRUST COMPANY, a Massachusetts trust company, m its capacity as, Owner Trustee under a Trust Agreement with Emarson Finance Co., andi as Lessor under a Facility Lease with Arizon Public Service Company, on behalf of said asso~iazion ini such capacities NotNotary My jA.MFsscn 14 O0-Ju-,iQ Q

~iUDIIN d.d my C= ** 1VTs Pgi=. 07 *0 4.

Defeted per APS Letter 102-04823, datediAugust 1, 2002 Enclosure Application Req ing Information be Withheld Fr m P lic Disclosure

DeletedperAPS Letter102-04823, dated August1, 2002 AFFIDAVIT OF GREGG R. OVERBECK

,Gregg R. Overbeck, Senior Vice President,. Nuclear, of the Arizona Public rvice Company (APS), do hereby affirm and state:

1 *.

I am authorized to execute this affidavit on behalf of APS.

2.

In its 2000 Decommissioning Funding Report, submitt pursuant to 10 CFR 50.75(f)(1), APS is providing on behalf of e

articipants in Palo Verde Nuclear Generating Sta n Units 1, 2 d 3, a compilation of information regarding de mmissioning fun ing (Appendix A, Tabs 1-3). The compilati n of information in App dix A is confidential commercial and fi ncial information that sh uld be held in confidence by the N and withheld from publicdi losure pursuant to 10 CFR § 90,because:

i.

The c piled information prov ed in the Tables in Appen A is and has been eld in confidence by APS.

ii.

This inform ion is of a e that is customarily held in confidence b PS, a there is a rational basis for doing so because the in on represents a unique compilation of sensitive comme " I and financial information concerning the decommissi i

funding.

iii.

This informa n is bein transmitted to the NRC in confidenc iv.

This in rmation, as compile is not available in public sour s and could not be gath ed readily from other pu icly available information.

v.

ublic disclosure of this information uld create substantial harm to the competitive position of AP by disclosing sensitive commercial and financial infor tion about the decommissioning funding for PVNGS to ot er parties whose commercial interests may be adverse to tho of APS.

Accordingly, APS requests that the information provide in Appendix A be withheld from public disclosure pursuant t 10 CFR

§ 2.790.

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Arizona Public Service Company STA OF ARIZONA COUN OFEMARICOPA Subs *bed and swom to me, a Notary Public, in and for t County and State above n ed, this A day of March, 2001.

My Commission xpires: &Ad 4o.c' 3

1573394

ML022210050

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ML022210050

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Dear Sirs:

Reference:

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Dear Sirs:

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Dear Sirs:

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Enclosures:

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