Text

Re-Submittal of Decommissioning Funding Status
	ML022250301
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: ML022250301 (172)
	v • d • e

Palo Verde Nuclear Generating Station Gregg R. Ovarbec%

Senior Vice Presidint Nuclear 10 CFR 50.75(f)(1)

Mail Station 7602 T'-L (623) 393-5148 P.O Box 52034 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 NIRC, "Status of Decommissioning Funding"

Subject:

Palo Verde Nuclear Generating Station (PVNGS)

Units 1, 2, and 3 Docket Nos. STN 50-5281529/530 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,

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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. 10 2-04266-JML/SAB/RKB, dated March 30, 1999, from J. M. Levine, APS, to NRC, "Status of Decommissioning Funding" B. Updated APS Letter No. 102 -04 5 5 0-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]

[PVNGSJ

Attachment 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"

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 50-528/5291530 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, prease contact Scott A. Bauer at (602) 393-5978.

This letter does not make any commitments to the NRC.

Sincerely, JML/SAB/RKB/rlh : 1998 Decommissioning Funding Status Report for Palo Verde Nuclear Generating Station Units 1, 2 & 3 S

tedper ASLetterl2-04823, datedAugustl, 2o2 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 1998 Decommissioning Funding Status Report for Palo Verde Nuclear Generating Station Units 1, 2 & 3

1998 DECOMMISSIONING FUNDING STATUS REPORT 10 CFR 50.75(f)(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 03/24/99 50-751999.doc

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 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):

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 03/24/99 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 2

50-75_1999.doc

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 I (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.

03/24/99 50-751999.doc 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 03/24199 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:

03124/99 5

50-75 1999.doc

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 03124199 6

Deleted per APS Letter 102-04823, dated August 1, 2002 PaloVDEerTdAL NuFlReaGnN

-10 tR 2.790 Palo Verde Nuclear Generating Station Appendix A, Tab I Unit 1

($M)

Partciants 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 %

TOTAL 100.00%

NRC (1)

Basic Radiological Eafmalft 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 ITrs (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 Conhibutign 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 PJH 3a24MI M'kft_"Wkm1M.

Years To End Of Operating (12/31/2024) 26 26 26 26 26 26 26

Deleted per APS Letter 102-04823, datedAugust 1, 2W02 GOIPFIoENTIAE rNeNRmAere-10tnFR t.S790ti Palo Verde Nuclear Generating Station Appendix A, Tab 2 Unit 2 (SM)

Partciants

% Olwnershi 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 %

Total (1)

Site Specific 170.80 102.66 NRC (1)

Basis Radiological Esfimalg 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 TM5t (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 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 PH 3W24M Sarkt.paleptm.lg Years To End Of Operating (12/g/2025) 27 27 27 27 27 27 27

DefetedperAPS Letter 102-042.3, datedAugust 1, 2002 TWr~~gtP=r."r-.

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UU Appendix A, Tab 3 Palo Verde Nuclear Generating Stati6n Unit 3

($M)

Partcpants

% Ownerhi 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 %

Total (1)

Site Specific EstimaI NRC (1)

Basic Radiological EsfiMate 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 27.69 631.10 Total Nuclear Decommissioning Irt (As of 12/31/98) 49.09 (3) 34.38 (4) 13.41 (5) 143.33 (6) 11.69 (7) 21.40 (8) 21.83 (9) 485.73 295.14 Fiscal (2)

Year 1998 Contrbutions 3.57 1.70 1.57 9.82 0 (10) 2.47 3.93 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.

PJH 324jg Years To End Of Operating (3/25/2027) 29 29 29 29 29 29 29 sins *mUm--

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)

PJH 3&74MIl SOT SMspoj.l

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:

AN contributions made quarterly W: ExCELIVICOMFMSnR 31j,"

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

100%

80%

1998 F-S NO Actual 49,972 32.92%

Committed 42.454 27.97%

40%

FIor 33963 22.38%

2 0 %

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

-- Funded Curve -x-Funded Floor.

Actua]

FILE1WE: WMECELPOICIO I~GfigITE

I Based on 1995 Cost Study Rate of Re*turn

.7500%

[Escalation Factor 50000% I Year Fund $

1991 8.358,799 1992 11.132.220 1993 16.329.125 1994 21,885.801 1995 27.827.153 1996 30.081.526 1997 36.066.854 1998 42.454,085 1999 49.294.247 2000 56.611.884 2001 84.415.053 2002 72.783.212 2003 81.710.917 2004 91.268.072 2005 101.469.878 2006 112.396.417 2007 124,067,749 2008 136.575,775 2009 149,920.593 2010 184,203.937 2011 179,454.950 2012 195,760.450 2013 213,216.308 2014 231.895.218 2015 251.839.399 2016 273.161.732 2017 295.948.345 2018 320.370.987 2019 346.411.450 2020 374.299.432 2021 404.110.184 2022 435.966.262 2023 470.049.073 2024 506,396.279 2025 540.307,385 2026 540.865.435 2027 504.008.813 2028 426.821,193 2029 345,911,258 2030 256.996.563 2031 157.138,814 2032 107,818,151 2033 91.957,867 2034 70.605.386 2035 37.556,837 2036 13.067.526 2037 10.526.082 FundIng Plan Funding Plan Est Cost 122.538.465 128.855,388 135,098,658 141.853,590 148.946,270 137,672,888 144,556,530 151.784.358 159.373.574 167.342.253 175.709.386 184.494.834 193.719.578 203,405.554 213,575.832 224.254.624 235.467,355 247.240,723 259.602.759 272.582.897 286,212,042 300.522,644 315,548,778 331.326.215 347.892,525 365.287,152 383,551.509 402,729,085 422,865,539 444,008,816 466.209,257 489.519,720 513.995.706 539.695,491 566,597.510 559.612.452 517,409.725 434.777,624 349.793.971 258,469,841 157,138,814 107.818,151 91.957.867 70.605.386 37.556,837 13.067.526 10.526,082 ARIZONA PUBLIC SERVICE COMPANY NUCLEAR DECOMMISSIONING FUNDING REQUIREMENT UNIT ONE

% Funded 6.82%

8.65%

12.09%

15.43%

1868%

21.85%

24.95%

27.97%

30 93%

33.83%

36.66%

39.45%

42.18%

44.87%

47.51%

50.12%

52.69%

55.24%

57.75%

60.24%

62.70%

65.14%

67.57%

69.99%

72.39%

74.78%

77.16%

79.55%

81.92%

84.30%

86.68%

89 06%

91.45%

93.83%

95.36%

96.65%

97.41%

98.17%

98.89%

99.43%

100.00%

10000%

Fit EWL W EXCUeoLm m*bcnaExweglts 2fnM Funding Floor Actual Funding Data

% Band

% Floor

$ Floor

$ In Fund Est. Cos

% Fundeds 80%

5.46%

8.687.023 8.531.336 122.538.465 6.96%

80%

6.92%

8.905.776 11,159.326 128.655,386 8.67%

80%

967%

13.063,300 14.474,516 135.098,6sa 10.71%

80%

12.34%

17.508.641 17.781,769 141.853.590 12.54%

80%

14.95%

22.261.723 24.469,181 148,946.270 16.43%

80%

17.48%

24.065.220 30,491.630 137,672.886 22.15%

80%

19.96%

28,853.483 39.491.919 144.556.530 27.32%

80%

22.38%

33.963.268 49.972.041 151.784.356 32.92%

80%

24.75%

39.444.960 80%

27.06%

45,289.507 80%

29.33%

51.532,043 80%

31 56%

58.226,570 80%

33.74%

65.368,734 80%

35.89%

73.002,253 81%

3849%

e2,205.338 82%

41.10%

92,165.062 83%

43.74%

102.993.421 84%

46,40%

114.723,651 05%

49.09%

127.432,504 86%

51.80%

141.197,941 87%

54.55%

156,125,807 88%

57.33%

172.289.632 89%

60.14%

189,762,514 90%

62.99%

208,705,696 91%

65.87%

229,173.a53 92%

68.80%

251,308.793 93%

71.76%

275,231,960 94%

74.77%

301.120.537 95%

77.83%

329.116,249 96%

80.93%

359,327,455 97%

84.08%

391.98.4878 98%

87.28%

427.246,937 99%

90.54%

465.348.582 100%

93.83%

506.396,279 100%

95.36%

540,307,385 100%

96.65%

540,865,435 100%

97.41%

504.008,813 100%

98.17%

426,821.193 100%

98.89%

345.911,258 100%

99.43%

256,996,563 100%

100.00%

157.138,814 100%

100.00%

107.818,151 100%

10000%

91.957,867 100%

10000%

70.605,386 100%

100.00%

37,556,537 100%

100.00%

13.067,526 100%

10a00%

10.526.082

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 Estalation ARIZONA PUBLIC SERVIE COMPANY NUCLEAR DECOMMISSIONING FUNDING REQUIREMENT UNIT ONE Firsi Quarter Second Quarter Third Quartert,

Fourth Quadw r

IContrib Conltrib Contrib Contrtb uEQuarter Earnings Quarter Earnings Quarter Earnings ANNUAL sYea Contrlb Earni$

to Date Contrib Earnings to Date Conthib Earnins to Date Conti b Earnings to Date CONTRIBS 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2O09 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 949.238 949,238 949.238 949,238 949.238 949,238 949.238 949,238 949.238 949,238 949.238 949.238 949.238 949,238 949.238 949.238 949.238 949.238 949,238 949.238 949.238 949.238 949.238 949.238 949.238 949.238 949.238 949,238 949.238 0

0 0

FiLtENW: W rXE-*euOWeAFSNpMerOET 2rAMe 425.265 520.419 622.160 730.945 847,260 971,628 1.104.605 1.246.788 1.398.815 1.561,365 1,735,169 1.921.005 2.119,706 2.332,182 2.559.327 2.802.217 3.061.923 3.339.607 3.636,514 3.953,976 4.293.416 4,656.353 5.044,417 5,459,345 5.902.997 6.377.363 6.884.568 7.426,886 8.006,748 0

0 0

26,575.381 32.309,286 38,440.136 44.995.412 52.004.496 59,498.804 67,511.928 76.079.783 85,240.773 95,035,959 105,509,245 116.707,574 128.681, 140 141,483,611 155.172.371 169.808,774 185,458.424 202.191,467 220.082,904 239,212.927 259,667.281 281,537,647 304,922,053 329.925,311 356.659.493 385,244,426 415,806,233 448,487,909 483,429,930 0

0 0

949.238 949,238 949,238 949.238 949.238 949.238 949.238 949,238 949,238 949,238 949.238 949.238 949.238 949.238 949,238 949.238 949,238 949.238 949.238 949,238 949.238 949,238 949.238 949.238 949.238 949.238 949,238 949.238 949.238 0

0 0

448,460 545.219 648.677 759,298 877.576 1.004.042 1,139.264 1,283.846 1,438,438 1,603.732 1.780,469 1.969,440 2.171,494 2,387.536 2,618,534 2.865,523 3,129,611 3.411,981 3.713,899 4,036,718 4.381,885 4.750,948 5,145,560 5.567.490 6.018,629 6.501,000 7.016,764 7,568,233 8.157.880 0

0 0

27.973.079 33.803.742 40,038.051 46.703,947 53,831.310 61.452.084 69.600.429 78,312.867 87.628.446 97.588,928 108,238.951 119.626,252 131.801.172 144.820.285 158,740,142 173,623,534 189,537.273 206,552,686 224.746,040 244.198,883 264.998.404 287.237.832 311,016.850 336.442.038 363.627,359 392,694.663 423,774.235 457.005,380 492.537.048 0

0 0

949.238 949,238 949.238 949,238 949,238 949.238 949,238 949.238 949.238 949,238 949,238 949,238 949,238 949.238 949,238 949,238 949.238 949.238 949.238 949.238 949.238 949,238 949,238 949,238 949.238 949.238 949,238 949,238 949.238 0

0 0

472.046 29.394.362 570,438 35,323,418 675,642 41,662.930 788,129 48,441,314 908.403 55.688,951 1,037,004 63.438,326 1.174,507 71,724,174 1.321,530 80.583.634 1.478.730 90,056,416 1.646,813 100.184,979 1.826.532 111,014.721 2.018,693 122,594,183 2.224.157 134.975.266 2.443.844 148.213,466 2.678.740 162,368,119 2.929,897 177.502.669 3,198.441 193,684.952 3.485,577 210.987.500 3.792.589 229.487867 4.120,856 249.268,976 4.471,848 270.419.490 4.847.138 293.034,208 5.248,409 317.214,497 5.677.459 343.068,735 6.136,212 370.712809 6.626.722 400.270.623 7.151.190 431.874,863 7.711.966 465,666.584 8.311.563 501.797.848 0

0 0

0 949,238 496.030 949,238 596.083 949.238 703.062 949,238 817.447 949.238 939.751 949,238 1.070,522 949,238 1,210.345 949,238 1,359,849 949,238 1,519,702 949,238 1.690,622 949,238 1.873,373 949.238 2,068,777 949.238 2.277.708 949.238 2.501,102 949,238 2,739.962 949,238 2,95.358 949,238 3.268.434 949,238 3.560,414 949.238 3,872,608 949.238 4,206.414 949,238 4,563.329 949,238 4.944.952 949.238 5,352.995 949,238 5.789.285 949.238 6.255.779 949.238 6.754,567 949,238 7.267.685 949,238 7.858,124 870.423 8.467,839 (33.633,270) 34,501.687 (66,841.285) 34.560,306 (103.335,798) 32,381.339 (101.640.508) 27.591.914 (103.632.218) 22.593,633 (108,813,828) 17,123,529 (54.454,860) 10.934.434 (20.239,230) 0 (24.714,642) 0 (34,836,970) 0 (25,111.574) 0 (3.042,686) 0 (10.526,082) 0 25,200,879 30.839,629 36,868.738 43.315.230 50,207.999 57.577.939 65,458.085 73.883.757 82,892.721 92.525.358 102.824,838 113.837,332 125.612,197 138,202,211 151.663.806 166.057,319 181.447.264 197.902.623 215,497,152 234,309,713 254.424,628 275.932,056 298,928,398 323,516,729 349,807,258 377.917.825 407.974.427 440,111.785 474,473,945 511,136.109 512,004.527 479.723.547 406.769,089 334.720,494 253.681.910 161,991,611 118.471.184 98,231.954 73.517,312 38.680.343 13.568,768 10.526.082 0

3,801,365 3,796,950 3.796,950 3.796,950 3,796,950 3.796,950 3,796,950 3.796,950 3,796,950 3,796,950 3.796,950 3,796,950 3.796,950 3,796.950 3,796,950 3,796.950 3.796.950 3.796,950 3.796,950 3.796,950 3,796.950 3.796.950 3.796,950 3.796.950 3.796.950 3,796,950 3.796,950 3.796,950 3,796,950 3,790,950 0

0 0

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

100%

80%

a1)

"-o c

60%

U 40%

20%

0%

1 1

1 2

2 2

9 9

9 0

0 0

00 0 0 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 S---+- Funded Curve -x-Funded Floor

_. Actual FI.EVAE: WEXCIUOICOMWIOVA4ESVOl ar

ARIZONA PUBLIC SERVICE COMPANY NUCLEAR DECOMMISSIONING FUNDING REQUIREMENT UNIT TWO Based on 1995 Cost Study I

Rate of Return 6.7500%I Escalation Factor 50000%1 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 26,262.984 146.553.726 1996 29.965.846 142.898.648 1997 35.920.433 150,043,579 1998 42.285.281 157,545,757 1999 49.097,560 165.423.045 2000 56.381.137 173.694.198 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 2006 111.984,125 232.766,837 2007 123.620.139 244.405.179 2006 136,062,807 256.625,438 2009 149.359.854 269.456,710 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 294.880,286 398,110,283 2018 319,155,061 416.015,797 2019 345,164,004 438.916,587 2020 372,929.867 460.862.416 2021 402.657,797 483,905.537 2022 434.375,386 508,100,814 2023 468,364.789 533,505,854 2024 504.667.195 560.181,147 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 418,686.159 429.421,702 2030 334.135,906 340.087,436 2031 247,131.950 249,729,133 2032 152,605,585 153.464,989 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 13.067,528 2037 10.526,062 10.526,082 IYe$%

Band

% Flr c

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%

4560%

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%

10000%

100.00%

80%

81%

82%

83%

84%

85%

86%

87%

88%

89%

90%

91%

92%

93%

94%

95%

96%

97%

98%

99%

100%

504%

6.071.426 663%

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%

28.736.346 21 47%

33.828.225 23,75%

39.287,973 25 97%

45.104.909 28 15%

51.339.662 3029%

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 56.03%

458,997.494 89.19%

499.620,523 92.40%

543,487,749 93.93%

572.991,825 95.45%

543.380.934 98.72%

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 10000%

10.526.082 Actual Funding Data

$ In Fund Est. Cost

% Funded 7,786.931 120.570.113 546%

10,625.997 126.598.619 8.39%

14.545.580 132.928,550 10.94%

10.150,013 139,574.977 13.00%

25.307.510 146,553,726 17.27%

31.299.677 142.898.646 21.90%

40.007.265 150.043.579 26.66%

49.309.948 157,545.757 31.30%

FILEINM: W EJICEL#OEComWIFF..qMO4BTE

=0140 L ear Fund $

Fundina Plan F..ndin. Fl"oor Fundinn Flnnm

ARIZONA PUBLIC SERVI8fK COMPANY NUCLEAR DECOMMISSIONING FUNOIN(d REQUIREMENT UNIT TWO Based on 1995 Cost Study Rat* of Reur 6 7500% Annual Period Role of Return 1 6875% Quarter Period Rate of Return 5.0000% Annual Estoalction First

uarto, Second Quarler Third Quarter Fourth Quarter Contrib Contrib Contrib Contrib Quarter Earnings Quarter Earnings Quarter Earnings Ouartw Earnings ANNUAL YVer Contrib Earnings to Dote Conlrib Earnings to Date Contrib Earnings to Date Conlrib Earning to Date CONTRIBS FILE~: W fLceuoecW$aexFsJme 20" 19952.035170 4068.818 1996 937.645 439.343 27,412.158 937.645 462.580 28,812.384 937,645 486,209 30.236,237 937,645 510.237 31,684,119 3,7506580 1997 937.645 534,670 33,156.433 937.645 559.515 34,653,593 937,645 584.779 36.176.017 937.645 610.470 37.724.133 3.750.580 1998 937,645 636.595 39.298.372 937.645 663.160 40.899,177 937.645 690.174 42.526,996 937.645 717.643 44.182.284 3.750.580 1999 937,645 745.576 45.865,505 937.645 773.980 47.577.130 937.645 802,864 49.317.639 937.645 832.235 51.087.519 3.750,580 2000 937.645 862.102 52.887.268 937.645 892.473 54.717.384 937.645 923.356 56.578.384 937,645 954.760 58,470.790 3,750.580 2001 937.645 986.695 60,395.129 937.645 1,019,168 62.351.942 937.645 1.052,189 64.341.776 937.645 1.085.767 66.365.188 3.750.580 2002 937.645 1.119.913 68,422,746 937,645 1,154.634 70.515.024 937.645 1.189.941 72.642,610 937.645 1.225,844 74.806.099 3.750.580 2003 937.645 1,262.353 77.006.097 937,645 1.299.478 79.243.220 937.645 1.337.229 81.518.094 937,645 1.375.618 83.831.357 3.750.580 2004 937,645 1.414.654 86,183,656 937.645 1.454.349 88.575.650 937.645 1.494.714 91.008,009 937.645 1.535,760 93.481.414 3.750.580 2005 937,645 1.577.499 95,996.558 937.645 1.619.942 96.554.145 937.645 1.663.101 101.154,891 937,645 1.706.989 103.799.525 3.750,580 2006 937,645 1.7M1.617 108,488,787 937.645 1.796,998 109.223.430 937.645 1.843.145 112.004.220 937.645 1.890.071 114.831,936 3.750.580 2007 937.645 1.937.789 117.707.370 937.645 1,986,312 120.631.327 937.645 2.035,654 123.604.626 937.645 2.085.828 126.628.099 3.750.580 2008 937,645 2.136.849 129.702.593 937,645 2.188,731 132,828.969 937.645 2,241.489 136.008.103 937.645 2.295.137 139.240.884 3.750,580 2009 937.645 2.349.690 142,528,219 937.645 2.405.164 145.871.028 937.645 2,461.574 149.270,247 937,645 2.518.935 152.726,827 3,750,580 2010 937.645 2.577.265 156.241,737 937.645 2.636.579 159,815.961 937.645 2,696.894 163,450,501 937,645 2.758,227 167,146,373 3.750,580 2011 937.645 2.820.595 170,904,613 937.645 2.884,015 174,726.273 937.645 2.948.506 178.612,424 937,645 3.014.085 182.564.153 3.750.580 2012 937.645 3.080.770 186,582.568 937,645 3.148,581 190,668.794 937,645 3,217,536 194,823.975 937.645 3.287.655 199,049.274 3.750.580 2013 937,645 3.358,957 203,345,876 937.645 3.431,462 207.714.982 937,645 3.505.190 212,157,818 937.645 3.580,163 216,675,626 3.750,580 2014 937.645 3.656.401 221,269.672 937.645 3.733.926 225,941.243 937.645 3,812,758 230.691.646 937,645 3,892.922 235.522,212 3,750,580 2015 937.645 3,974,437 240.434.295 937,645 4.057.329 245.429.268 937,645 4.141,619 250.508.532 937.645 4.227.331 255,673.509 3.750,580 2016 937.645 4.314,490 260,925.644 937,645 4.403,120 266,266.409 937.645 4.493.246 271,697,300 937.645 4.584,892 277.219,837 3.750.580 2017 937,645 4,678,085 282.835,566 937.645 4.772,850 288.546,061 937.645 4.869,215 294,352.921 937.645 4.967.208 300.257,772 3.750.580 2018 937.645 5.066.850 306,262,266 937,645 5.168.176 312,368,087 937.645 5,271.211 318.576.944 937,645 5.375.986 324,890.574 3.750.580 2019 937.645 5,482,526 331,310,748 937,645 5,590,869 337.839.262 937.645 5,701.038 344.477,944 937.645 5.813.065 351.228,654 3.750,580 2020 937.645 5.926,984 358.093,283 937.645 6.042.824 365.073.752 937,645 6.160.620 372.172.016 937.645 6,280.403 379,390,064 3,750,580 2021 937,645 8.402,207 388,729.916 937.645 6.526,067 394.193.629 937,645 6.652.017 401.783.291 937.645 6.780,093 409,501.029 3.750,580 2022 937.645 6.910,330 417,349,004 937.645 7.042,764 425.329.413 937.645 7.177.434 433.444,492 937.645 7.314.376 441.696,513 3.750.580 2023 937,645 7,453,629 450.087.786 937,645 7.595,231 458,620.663 937.645 7.739,224 467.297,531 937,645 7,885,646 476.120,822 3,750,580 2024 937,645 8.034,539 485.093.006 937.645 8.185.944 494,216.595 937.645 8.339.905 503.494.145 937,645 8.496,464 512.928,254 3.750,580 2025 937,645 8,655,664 522,521,583 937,645 8,817,551 532.276.759 937.645 8.982.170 542.196.575 (6.281.091) 9.149.567 545,065.051 0

2026 0

0 0

(67.845.446) 36.791,891 514,011,496 0

2027 0

0 0

(86.496.813) 34.695,776 462.210,458 0

2028 0

0 0

(97.952,789) 31.199.206 395.458,876 0

2029 0

0 0

(105.528.906) 26.693.339 316.621,309 0

2030 0

0 0

(102,250.167) 21.371,938 235,743,081 0

2031 0

0 0

(103,572.000) 15.912,658 148.083,738 0

2032 0

0 0

(53.292,250) 9.995.652 104.787,141 0

2033 0

0 0

(30.847.545) 7,073,132 81.012,728 0

2034 0

0 0

(41.276.518) 0 39,738,210 0

2035 0

0 0

(26.167.442) 0 13.568,768 0

2036 0

0 0

(3,042.686) 0 10.528,082 0

2037 0

0 0

(10.526.082) 0 0

0

i Sn AC

.2 a

'2 jB z a.2 T*

38~~!31.

s v A tI V

v v S V

'm 3

"-a 22:3? 333 it a

Ubi 3

9 a 4 J e U!

+/-

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

100%

80%

"*0

'1) 60%

U_

40%

20%

0%

1 1

11 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

[-- Funded Curve -x-Funded Floor 0 Actual FMfENM: W EXjCELRcojAFS W)aIUT1

ARIZONA PUBLIC SERVICE COMPANY NUCLEAR OECOMMISSIONING FUNDING REQUIREMENT UNIT THREE Based on 1995 Cost Study I

Rate of Return 6,7500%I Escalation Factor 5.0000%1 Fundina Plan I

a.

un n

Flo Fund S Est. Cost

% Funded Est Cot

% Fud

% Bnd ft r Actual Funding Data

$ 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 2018 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 38.20%

87,885,693 227,036.149 38.71%

98,144.322 238.387,957 41.17%

109,134,007 250.307.354 43 60%

120.872.170 262.822,722 45.99%

133.428.525 275.963,858 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%

249,294,289 388.308.881 64.20%

270,728,938 407.724.305 66.40%

293,683.817 428,110,520 68.60%

318.167,457 449,516,046 70.78%

344.412,452 471,991,848 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%

505.348.740 602,394,493 83.89%

544,468,239 632.514,218 86.08%

586,369,143 664.139,929 88.29%

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%

5.03%

8000%

6,38%

80.00%

890%

80.00%

11.35%

8000%

13.74%

80.00%

16.06%

80.00%

18.33%

80.00%

2055%

80.00%

22.72%

80.00%

24.84%

8000%

26,92%

80.00%

28 96%

80.00%

30.97%

80.00%

32.94%

80.00%

34.88%

80.00%

36.79%

810oo%

39.16%

82.00%

41.56%

83.00%

43.98%

84.00%

46.42%

85.00%

48.89%

8600%

51.40%

87.00%

53.93%

88.00%

56.50%

89.00%

59.10%

90.00%

61 74%

91.00%

64.41%

92 00%

67.13%

93.00%

69.89%

94.00%

72.69%

95.00%

75.53%

96.00%

78.43%

97.00%

81.37%

98.00%

84.36%

99.00%

87.41%

100.00%

9051%

100.00%

92.02%

100.00%

93.50%

10000%

95.02%

100.00%

96.33%

100.00%

97.22%

100.00%

97.98%

100.00%

98.72%

100.00%

99.36%

100.00%

10000%

100 00%

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 36,502.075 169,417,870 44.699.986 177,888,764 FISBS:A E

WUXCEL0c0sa,.0

.sm9vilwTE 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 96.697,736 108.077.106 120.418.154 133.809.218 148.289.456 164,001.269 181,034.698 199,447.635 219,378,974 240,948,755 264,315.435 289.532,386 316.859,455 346.366,380 378.258,730 412,712,625 449,971,475 490.188,278 533.578,874 580.505,452 627,918,944 666.845,226 652,902,999 606,715,888 547.039.202 463,037,337 368.645,464 261.055.055 154.919.964 58,906,705 13.067.526 10,526.082

J*'IAAo

ARIZONA PUBLIC SERVICE COMPANY NUCLEAR DECOMMISSIONINO FUNDING REQUIREMENT UNIT THREE Based on 1995 Cost Study Rale of Refur 6.7500% Annual Period Rate of Return 1 6875% Quarter Period Rate of Return 5.0000% Annual Eshalaction First Quarter*

Second Ouader Third Quarter Fourth QuarterI Contrib Conhib Contrib Cordrib Quarter Earnings Quarter Earnings Quarter Earnings Quarter Earnings ANNUAL Year Contrib Earnings to Dale Conrib Earnings Io Date Contrib Earnings to Date Contrib Earnings to Date CONTRIBS 1995 24.547.774 1996 1.096,015 414.244 26,058.033 1.096.015 439,729 27.593.778 1.096.015 465.645 29.155.438 1.096.015 491.998 30.743.451 1997 1.096.015 518.796 32.358.262 1.096.015 546.046 34.000.324 1.096.015 573.755 35.670.094 1.096.015 601.933 37.368.043 1998 1.096.015 630.586 39.094,644 1.096.015 659,722 40.850.381 1.096.015 689.350 42.635.747 1.096.015 719.478 44.451.240 1999 1.096.015 750,115 46.297.370 1.096.015 781.268 48.174.654 1.096.015 812.947 50.083.616 1.096.015 845.161 52.024.793 2000 1.096.015 877.916 53.998.726 1.096.015 911.229 56.005.970 1,096.015 945.101 58.047,086 1.096,015 979.545 60.122.646 2001 1.096.015 1.014.570 62.233.231 1.096.015 1.050.186 64.379.432 1.096.015 1.086.403 66.561.851 1.096,015 1.123.231 68.781.097 2002 1.096.015 1.160.681 71.037.794 1.096.015 1.198.763 73.332.572 1.096.015 1.237.487 75.666.074 1.096.015 1.276.865 78.038.955 2003 1.096,015 1.316.907 80.451.677 1.096.015 1.357.625 82.905.518 1.096.015 1.399.031 85.400.564 1.096.015 1.441.135 87.937.714 2004 1.096.015 1.483.949 90.517.678 1.096.015 1.527.486 93.141.179 1.096.015 1.571.757 95.808.952 1.096.015 1.616.776 96.521.743 2005 1.096.015 1.662.554 101.280.313 1.096.015 1.709.105 104,085.434 1.096.015 1.756.442 106,937.891 1,096.015 1.804.577 109.838.483 2006 1,096.015 1.853.524 112.788.023 1.096.015 1.903.298 115.787.336 1.096,015 1.953.911 118.837.263 1.096.015 2.005.379 121.938.657 2007 1.096.015 2.057.715 125.092.387 1.096.015 2.110.934 128.299.337 1.096.015 2,165.051 131.560.403 1.096.015 2.220.082 134,876.500 2008 1.096.015 2.276,041 138.248.557 1.096.015 2.332.944 141.677.516 1.096.015 2.390.808 145.164.340

1.096.015 2.449.648 148.710.003 2009 1.096.015 2,509.481 152.315,500 1.096.015 2.570.324 155.981.839 1.096.015 2.632.194 159.710.048 1.096.015 2.695.107 163.501.171 2010 1.096.015 2.759.082 167.356,268 1.096.015 2.824.137 171.276.421 1.096,015 2.890.290 175.262.726 1.096.015 2.957.556 179.316.300 2011 1.096.015 3,025.963 183.438.277 1.096.015 3.095.521 187.629.814 1.096,015 3.166.253 191.892.082 1.096.015 3.238.179 196.226.276 2012 1.096,015 3.311.318 200.633.610 1.096.015 3,385.692 205,115,318 1,096.015 3.461.321 209.672.654 1.096.015 3.538.226 214.306.895 2013 1.096.015 3.616,429 219.019,340 1,096.015 3.695.951 223.811.306 1.096.015 3.776,816 228.684.137 1.096.015 3.859.045 233.639.198 2014 1.096.015 3.942.661 238.677.874 1.096.015 4.027.689 243.801.579 1.096.015 4,114.152 249.011,746 1.096.015 4.202.073 254.309.835 2015 1,096.015 4.291,478 259,697,328 1.096,015 4,382.392 265.175,736 1.096.015 4.474,841 270.746.592 1.096.015 4,568.849 276,411.456 2016 1.096.015 4.664,443 282.171.915 1.096.015 4.761.651 288.029,581 1.096.015 4.860,499 293.986,096 1.096,015 4.961.015 300.043.126 2017 1.096.015 5,063.228 306.202.369 1.096.015 5.167.165 312.465.550 1.096.015 5.272.856 318.834,421 1.096,015 5.380.331 325.310.768 2018 1.096.015 5.489.619 331.896.402 1.096.015 5.600.752 338.593.169 1.096.015 5.713.760 345.402.944 1.096.015 5.828.675 352.327.634 2019 1,096.015 5.945.529 359.369.179 1.096.015 6.064.355 366.529.549 1.096.015 6,185,186 373.810.750 1.096.015 6.308.056 381.214.822 2020 1,096.015 6.433.000 388.743,837 1.096.015 6.560.052 396.399,905 1.096.015 6.689.248 404.185.169 1.096,015 6.820,625 412.101.809 2021 1.096.015 6.954.216 420.152.042 1.096.015 7.090.066 428,338.123 1.096,015 7,228.206 436.662.344 1.096.015 7.368.677 445.127,037 2022 1.096.015 7.511,519 453,734.571 1.096.015 7.656.771 462,487,357 1.096,015 7,804.474 471.387.647 1.096,015 7.954.670 480.438,532 2023 1.096.015 8,107.400 489.641,948 1.096,015 8.262.708 499.000.671 1,096.015 8.420.636 508.517,322 1.096.015 8.581,230 518.194,568 2024 1,096.015 8.744.533 528.035.116 1,096.015 8,910.593 538.041.724 1.096,015 9.079.454 548.217.194 1,096.015 9.251.165 558.564.374 2025 1.096.015 9.425.774 569.068.163 1.098,015 9.603.329 579,785.506 1.096.015 9.783.880 590.665.403 (2.323.505) 9.967.479 596.309.377 2026 1.096.015 10.096.471 609.501.863 1.096.015 10.285.344 620.813.223 1.096.015 10.477,404 632.456.642 (2.494.481) 10.672.706 640.634.867 2027 0

0 0

(59,634.251) 43.242.854 624.243.470 2028 0

0 0

(90.183.521) 42,138.434 576.196.383 2029 0

0 0

(97.675.391) 38.893.258 517.414.249 2030 0

0 0

(114.282.450) 34.925.462 438.057.261 2031 0

0 0

(117.754.291) 29,568.865 349.871,835 2032 0

0 0

(124.602.239) 23.616.349 248.885.944 2033 0

0 0

(115.946.706) 16.799.801 149.739.039 2034 0

0 0

(99.816.214) 10.107.385 60.030.210 2035 0

0 0

(46.461.442) 0 13,568.768 2036 0

0 0

(3.042.686) 0 10.528.082 2037 0

0 0

(10.526.082) 0 (0) 3.573.692 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 4.384.061 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 4.384.061 4.384,061 4,384.061 0

0 0

0 0 FXViWE: W fXCtuEL owaaaeieary

ESTIMATED ANNUAL COSTS UNIT THREE INm Pvc 0-4 Y..

Nv oas 11 P L1b s

to

1 12 1

14 1 0071 2.30.325 761.no 32".5640 701.200 SS1.06467 12511.212 76.126.117 111.025.206 60.29.70 18.592.111,1 60IA.00512 20.710.20 64.944.602 20.331.1112 04.201.251 20.406.040 72.207.632 18.191.067 150.191.320 1.6.6 77.51I.777 61.506.647 1.204,372 411.41" 6.24166" 1250171r 647.&?5.102 163.601.002 "21%

.4 628.M6.300 1660 is" 2001 2m0 2W3 2004 2m?

20W0 200?

2012 2m1 2010 2015 2010 2013 20#4 2014 2020 2021 2012 0202 2021 2m2 2027 202s 2020 2020 20m 2030 2024 2032 2020 2034 63 24 20 21 22 12

'4 29 20 27 20 20 21 9013.2 212 1472.5 24 1460.3 21 "61.1 40 48.410.442 21 2.002.M0 22 10.620.062 24 6.075.20 153.067.003 1012350.3si 100,417.476 117.11".741 2W.01.2140 22227.7n14 226.207 157 302.422.012 320012001W 2428.10.1129 491514,2661 4201.312.02 546.310.543 440.510 040 465 501.440 146.2000028 U12.1011.41" 4021137e4.211 724.614.22m 438.513060 001.660.413 4711.217'10 376.446.749 264.439665 f55.161'.6 "50 ~m 0

12.0671.2 10,21241112 F11.200 672.2f6

.009.704 1.000.264 1.166.082 1.727.411 1.292.220 1.470.201 1.401.32$

f.5010322 1.0440464 1.213.441 I.104.0l7 2.304.2152 2.314.4ft 2.430. 166 2.351.000 2.812.240 2.0)23910 2.101.006 2.226.06 3,41,6310 Ist.200 W61.7011 1.009.764 I1.0200.4 1.168002 1.227.411 I.266.701 I 252.220 1.420661 1.644.11411 1,727 060 141344s 1090411P 2.204.252

2. 214.400 2420.166 2.471 666 2.843.246 2.953.910 3.101.400 2.256.600 2.410.520

.560.400 12515.212 12,1606?2 13.1760021 14.461 622 I5.212 216 15.612.524 16.171501l 11.610,100 19.400 6a" 19.41S.201 20205601 21.405,290 22475322 225009 26 24,77902*2 76.016.220 21.316 13?

26665 064 20.119.246 31.67S.316 22.206.S02 24.606 611 30.6t0.2SF 26.440.770 60.32.2 "

42.360,646 44,400600 40,724.630 49.001.246

$1.514.306

$4.080.023 54.7104.52s 59.634.21 111.025.2m is152.116 18.123410r 19.522.424 16.812.162 20400.760 2000.m222#3 26 24.9555010 281143414 293201.161 20 266004 306423221 21600004 22 210.00 2 260.2C20 220"96220 25,050.062 21.472.116 38,052.409 20.34677?1 40.506.143 41.314.110 42.611.440 42.379.815 44,746.222 49.549.600 460023.53 47.626.2461 46.22.710 50,211.SSO 31.7"0.343 52,726.437 24,306.212 55.204,650 57.100.776 W0.133,101 5.6.1 61.020.7s1 62.902.426 64.001.744 00.110.549 67.20.222 66 416.076 P0.061.146 72.m0.m6 14.164.206

?8331.224 17.900.910 60.257.706 65666".007 66.14.410 60.162.521 63.024.161 91.071.391 20,716 26 21.714 212 22.6441.923 23.004.902 2S.183.221 24.442.302 27.?64,501 "2.1527in 30.610.362 U2.140.60" 33.147.874 3S.435.220 27.207.000 26.001.441 41.020.81) 43.0?1,612 45.22S.446 47.46.7141 49.001.054 52.3154.101 34.971.812 57.720.403 6000.422 63.639.144 10.615.101 Y7.3110.110 41.216.403 61.2163222 94.020.454 100.640.423 114232.450 20.321. 152 21.240.109 22.415.061 223.13. 04 24.1`11.1142 2S.942.274 27.243.067 240.07.672 30.026.2104 21.540.260 32.117."S 24.772 166 05011 621 40.254.20 42.231004 44.2602154 46.62.3.20 12.644.166

$0.041,627 50.473.919 67.447.011 65.506.60 00.040.49S 72,21W020 796100.130 27.410.065 02.20.000 960.87.741 101.720.604 106,.06013 it2.140644" 117.754.291 20.400.046 21.513.501 22.506.17 23114.6304 24.604.900 26.149.1041 27.457.204 2.360.146 20.271.050 21 705.220 22.274.5m 2230432221 20 6.?5207 200235120 40.50.14 42.50.290 44721s022 06001.274 49.30.321 51.71411114 14,363.544 91,001 722 "50625a 026112516" "0.079.2211 06.202100 72.852.346 14.404.666 00.319.714 64.221.70 "6.552.461 62.960.100 o7.620.115 103.510.571 107.026.000 112.0I7.604 Ite.4.1,10.6 124.00.2m2 i0.I57 676 16.01.119 20.020.011 22.071.013 23.174.002 24.332 3.1 75.546.055 20.100.962 32011.312 34.230.264 37,749.921 41.614.106 43.11".0114

$0.507.104 113.110.1122 15S.72.2461 8561.46.04 01.761 020 1.101.5220 Y414 70.20 70.471.265 02.401.150 "6.621.7s1 60.647.276 66.20.642 100.196. 124 106.101.060 110.4311,434 14.067.3@5

S.031.759 16.413.342 l1.2upl01 111.005.716 19.000.49S 19.1"A.520 20.046.044 21.665.449 23.0615.221 24.246.602 21.442.481 26.012200 20.43,1.009 30.646.8" 32.4117.266 34.122.100 37.016.06 30.50,M66 41.415.066 42.546.464 45.736.m5 48.013.306 20.402.971 112.934.517 "1.501.403 65.276.497 64.34a.422 87.15N.543 Y6.127.020 14.04K,3"0 76.206.861 62.119.647 "0.224.006 90.153,246 "6.414.214 6.2m06.41 10.234.020 l.276.130 1IA.02061 6I.42.014 12.664.6150 W270.180 14.220.202 10.120.512 15.612.83 14.0706.9" 16.13".512 20."8.73.~

23.270.612 24.623.406 25.871.406 27.18S.042 23.622.260 2,0.60.4a0 31.446.923 33.019.2111 34.60m24 20.402.711 40.136.140 4X.141.89?

44.2",.002 441.49t.442 4116916 1.210, Ila 432.200 1.42200s 453.610 1.495.164

ý470.901 S.5990644 60.220 1.644.441 121,242 1.?20.60

"#0.sm6 1.617.406 MAN16 1.306.27 GN. 146 2.003.41100 63G.157 2.103.8p5 MA04N 2.206 06 WON00 2.316.322 1311.206 2.425.406 614 67 2.615.127 655.127 2.419.393 M.14 2.M0303 642.420 2.106.201 "Well1.2232000 1.040.142 3.4266.00 1.062 149 3.&W,340 1.140.157 2 176.257 1.20.0614 2.667.176 1.264.200

4. 62 5sm 1.3271',14 4.2726004 1320)110 45302400 1.443.564 4.022.t16 1.536.703 5.0032 2S 1.61.602 516.25620 9.204.M6 6.962.MW 1.716.906 S.661.25 1.007.64 6.114.320 2.056.410 6.105,206 2.142.3" 7.124.487 2.276.460 7.400 60 2.204024 731S4.724 2.9032n2 6241.465 2.6283920 11.016.024 2.79011 m

.002.621 2.8671.,67 6.141.467 3.042.660 10.024.140 106.50.082 F1LL7010 W 1XCELO0UcaiwawsonfJ20.g4TE 2nm 204 I'ago I's

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, Induding 25% Contingency PJH 324M9 75078 N0pa-tlB As

SALT EVER PROJECT NUCLEAR DECOMMISSOMING TRUST ($GO0'W)

UNIT 1 Al Particoants Decom Costs in 1995$ $447.21g SRP Shae 17.49%

SRP Shre in 1995$

$78.218 Projected return on investments 7.4s%

Pan B*ance as of 12/31/95 in 1 995$

$17,292 Projected Inflotion 5.9M Years To Start of Decom (Funding Yrs LeftI 26 FV of Total Decom. Charges Discounted to 2024 $414,639 FV of 12/31/95 Plan Balance in 26 yeas S77I14 FV of Sdarce Owed to be Funded by Contributions and Earrings S337.

Current oalnce Colender Auad Befom Decom Termination Years Since Yea bid Payment Earnings Decom Chages EWng Costs Funded 31-Dc flnftl Ad.) flnflat Ad.) Charo inflot Adi.t Jgar~t finflat Adl.1 E

1987 721 26 747 0.00 747 1988 960 31 1,738 0.00 1,738 1989 805 135 2.678 O.0D 2.678 43,630 A14%

A 1990 841 499 4.018 0.00 4,018 44,983 8.93%

C 1991 1.746 280 6.044 0.00 6.044 47,646 12.68%

T 1992 1,107 462 7.617 0.00 7,617 79,718 9-56%

U 1993 1842 313 9.772 0.00 9,772 84,438 11.57%

A 1994 2,360 69 12.201 0.00 12.201 89,436 13.64%

L 1995 1,775 3,317 17,292 0.00 17.292 78,218 22.11%

1996 1.292 2.752 2,1.336 0.00 21,336 82,849 "

25.75%

1997 1,369 4.881 27,586 0.00 27,586 87,754 31.44%

0 1998 1,450 5.318 34,354 0.00 34,354 92.949 36.96%

1 1999 1,115 2,628 38.097 0.00 38,097 98,451 38.70%

2 2000 1.181 2,914 42.192 0.00 42.192 104,279 40.46%

3 2001 1,251 3.228 46,671 0.00 46,671 110,453 42.25%

4 2002 1,325 3,570 51,566 0.00 51,566 116,992 44.08%

5 2003 1,403 3,945 56,914 0.00 56.914 123.918 45.93%

6 2004 1,486 4,354 62.755 0.00 62.755 131,253 47.81%

7 2005 1.574 4,801 69.130 0.00 69,130 139,024 49.73%

8 2006 1.668 5.288 76.086 0.00 76,086 147,254 51.67%

9 2007 1,766 5.821 83,672 0.00 83.672 155,971 53.65%

10 2008 1,871 6,401 91,944 0.00 91,944 165,205 55.65%

11 2009 1,982 7,034 100.960 0.00 100,960 174,985 57.70%

12 2010 2,099 7.723 110,782 0.00 110.782 185,344 59.77%

13 2011 2.223 8.475 121,480 0.00 121,480 196,316 61.88%

14 2012 2.355 9.293 133,128 0.00 133,128 207,938 64.02%

F 15 2013 2.494 10,184 145,807 0.00 145,807 220,248 66.0%

O 16 2014 2642 11,154 159,603 0.00 159,603 233,287 68.41%

R 17 2015 2.798 12,210 174,610 0.00 174,610 247,098 70.66%

E 18 2016 2.964 13,358 190,932 0.00 190,932 261,726 7295%

C 19 2017 3,139 14,606 208,678 0.00 208.678 277,220 75.28%

A 20 2018 3,325 15,964 227.967 0.00 227.967 293.631 77.64%

21 2019 3,522 17,439 248,928 0.00 248,928 311,014 80.04%

22 2020 3,731 19.043 271.702 0.00 271,702 329,426 82.48%

23 2021 3.951 20,785 296,439 0.00 296,439 348.928 84.96%

24 2022 4,185 22.678 323,302 0.00 323.302 369.585 87.48%

25 2023 4,433 24,733 352.467 0.00 35Z467 391,464 90.04%

26 2024 4.696 26.964 384,127 61 384,066 414,578 92.64%

27 2025 000 29.381 413,447 27,597 385,850 411,524 93.76%

28 2W26 0.00 29,518 415,367 54,063 361,304 381,823 94.63%

29 2027 0.00 27,640 388.944 82.108 306.836 322,319 95.20%

30 2028 0.00 23,473 330,309 81,469 248.841 259,932 95.73%

31 2029 0.00 19,036 267,877 83,793 184,084 191,527 96.11%

32 20 0.00 14,082 198.167 88,753 109.413 114,112 95.88%

33 2031 0.00 8,370 117,783 44,805 72,978 76,063 95.94%

34 2032 0.00 5,583 78,561 16,799 61.763 63.767 96.86%

35 2033 0.00 4,725 66,488 20,693 45,795 46,850 97.75%

36 2034 0.00 3.503 49.298 29,424 19,874 20,199 98.39%

37 2035 01 2

2 1.3 9 100.00%

81,i 469-50 55,5 550,9

FUNDING FLOOR ANALYSIS FOR UNIT I ($0001)

ESTIMATED FUNDING Er:ng Fund Zg Est C

%-un~d 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%

Minimum Mrnimumn Mdnimum Band Percenfaoe

£AMT r.,nWQ oR=

80.00%

60.00%,

80.00%

80.O%

80.00%

8O.OO%

80.00*

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 6188m%

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-.85 87.48%

391.464 90.04%

414.578 94.64%

411,524 96.76%

381=823 96.83%

322.319 97.20%

2539932 98.73M 191.527 98.81%

114,112 99.88M 76,063 100.00%

63,767 100.00%

46,850 I 00.00o%

20,199 100.00%

0.00 100.00%

80.00%

80D=0%

80.00%

W0.00%

80.00%

81.00S 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%

98.00M%

99.00%

100.00%

100.00O 100.00%

100.00%

100.0D0 100.00%

10X.00O 100.00%

I00.00M 100.00%

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*ý0%

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 97.8,5%

98.38-%

100.00%

4.B57 6=090 7,822 9,761 9,848 11.843 14.065 16,534 19,274 22311

.25,674 29,391 33,497 38,027 43,557 49,730 56,613 64,278 72,806 82284 92808 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 112264 76,063 63,767 46,850 20,199 0.00 Roor Percentage

.d Akcdual FvncK*e YES 4

12.68%

6,044 9.56%

7,617 118%

9,772 13.64%

12,201 22.11%

17,292 25.75%

21,336 31.44%

27-586 36.96%

34,354 YES YES YES YES YES YES YES YES YM¢ 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 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 352Z467 384,066 385,850 361,304 306.836 248,841 184.Le4 109.413 72M978 61.763 45.795 19,874 0.00 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 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2013 2014 2015 2016 2017 2018 2019 202D 2021 2022 2023 2024 2025 2026 2027 2028 2029 2D30 2031 2032 2033 2034 2035

Fuding Percentages 199S Docommluaonlng

".0 %.......

... os 800%..

SALT RrVER PROJECT NUCLEAR DECOMMISWONIN TRU (SOO0WS UNIT 2 I

Al Paricipants Decom Costs in 1 995$ $64320.8 SRP Sh'e in 19953

$81,209.7 Pta, ba,*ceas of 12/31/95 in 1995$

$15,940.3 FV of Total Decom. Charges Discounted to 2025 $455,981.4 FV of 12/31/9, Plan 8clonce in 27 yea's S75,3 FV of Bal*nce Owed to be Finded by Contribution and Ea'nings Cdender Yeas Since Yea' End Ztu*b 1-e 1988 1989 1990 1991 1992 1993 1994 1995-SRP Share 17.49%

Projected return on investments 7.654%

Projected Inflation 5.92%

Yeoa To Start of Decom (mundng Yrs Left) 27 CLw Blace Annual BOom Decom Te'nination Payment EanJngs Decorn Cha'ges Endng Costs unded tnflo.t~c.1 frnlotaAcl.

Chrg linfltAd.1 Odn

.U..q.lat*

Ad-ho 960 805 841 1.909 1._29 1,761 2.241 1.714 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 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 960 1839 43.256 3,023 44,597 5,150 47,237 6,839 78,467 8,881 83.112 11.185 88.032 1 5,140 in1 l.1 4.25%*

6.78%

10.90%

8.72%

10.69%

1271%

19.63%

19,856 86.017 23.08%

25.860 91,110 28.38%

32,398 96,503 33.57%

36,134 102,216 35.35%

40.230 108,267 37.16%

44,718 114,677 38.99%

49.633 121.466 40.86%

55,012 128,656 42.76%

60,896 136.273 44.69%

67,330 144,340 46.65%

74,362 152.885 48.64%

82,042 161,936 50.66%

90.428 171,523 52.72%

"99,580 181,677 54.81%

109-565 192432 56.94%

120,454 203,824 59.10%

132.324 215,890 61.29%

145.259 228,671 63.52%

159,351 242.209 65.79%

174,697 256,547 68.10%

191.403 271.735 70.44"%

209.586 287,822 72.82%

229.369 304,861 75.24%

250,887 322,908 77.70%

274.287 342Z025 80.20%

299.726 362272 82.73%

327.374 383.719 85.32%

357.417 406.435 87.94%

390,055 430,496 90.61%

418,531 449,010 93.21%

395.694 420,737 94.05%

357.237 376,917 94.78%

306,053 320,717 95.43%

244,140 254,378 95.98%

179,417 186,037 96.44%

107,924 111.832 96.51%

71,947 74.220 96.94%

51,624 52.786 97.80%

20.711 21,049 98.39%

0 100.00%

1996 1997 0

1998 I

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 2000 2001 2002 2003 2WO4 2005 2006 2008 2OO9 2010 2011 2012 2013 201A 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 1.379 2.537 1,460 4.545 1.546 4.991 1.257 2.478 1,332 2764 1,411 3.078 1,494 3,421 1.582 3,797 1,676 4,208 1,775 4,659 1,880 5,151 1.992 5,689 2,110 6,276 2.235 6,918 2.367 7,618 2r507 8=382 2.655 9.215 2.813 10,123 2.979 11.112 3,155 12,190 3,342 13,364 3.540 14,642 3,750 16.033 3.972 17.547 4.207 19,193 4,456 20,983 4,720 22.929 4.999 25,044 5.295 27.342 S.A08 29.839 0.00 32,018 0.00 30,271 0.00 27,329 0.00 23,413 0.00 18,677 0.00 13.725 0.00 8.256 0.00 5.504 0.00 3,949 2=L 495~

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 99,580 109,565 120,454 132.324 145,259 159,351 174,697 191,403 209-586 229.369 250,887 274.287 299,726 327.374 357.417 390.055 425.502 450-548 425,965 384.566 329.466 262,816 193.142 116,180 77,451 55,573 22,295 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 6.972 54.854 68,728 78,513 85.326 830400 85,218 44,233 25,828 34,862 F

0 R

IF C

A s

T

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

Ilnimum Minimum Minimum bad frreggo SA rr Funding Foor 80.00%

8.74%

4.166 10-00%

6.97%

5.469 0.00%

8.55%

7,109 0.00%

10.16%

8.948 0.00%

1.80%

9.583 0.00%

13.46%

1 1582 0.00%

15.15%

13,807 D.00%

16.87%

146.M3 I

8 8

8 8t 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 18.62%

20.9%

22.20%

24.03%

25.89%

27.79%

29.71%

32.06%

34.50%

37.01%

39.62%

422.0%

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%

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 254378 186,037 111,832 74,220 52,786 21,049 0.00 Floor ctua 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 Ending Fund Year 1991 1992 1993 1994 1995 1996 1997 1998 80.00%

80.00%

80.BO%

80.00%

81.00%

8200%

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%

5.163 6.836 8.887

1.185 13,755 19,856 25,860 40,230 44.718 49,633 55.012 60,896 67.330 74,362 82042 90,428 99,580 109,565 120,454 132324 145.259 159,351 174,697 191,403 209.586 229.369 250,887 274,287 299,726 3272174 357,417 390,055 418,531 395,694 357.237 306,053 244,140 179.417 107,9124 71.947 51,624 20,711 0.00 47.646 78.467 83.112 88,032 81.210 86.017 91,110 22,080 25,455 29,189L 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 52786 21,049 0.00 10.93%

8.71S 1O69%

1271%

16.94%

23.081%

28.38%

33.57%

37.16%

38.99%

40.86%

4276%

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%

8273%

85.32%

87.94%

90.61%

93.21%

94.05%

95.78%

96.43 97.98%

98.44%

100.00%

Balanc bLQQsb

-% Fvnde

.*...o.° I

So l

- 1 0

..............~~~~~~

sm*

I 1 PN..

......I i

m p

.....................................................................................................I......*............ I................ s ue~

o....

w

. I....

SALT RIVER PROJECT NUCLEAR DECOMASSIONING TRUST $4000')

uNITe 3 Al Participants Decom Cosh in 199 5 5534.777.4 SRP Share in 19955

$93.5A6 Pl lance as of 12/31/95 in 1995$

$16.791.0 FV of Total Decor.

Charges Discounted to 2027 $559.193.5 FVof 12131/95PlanBalance in29years S89.M FV of Balance Owed to be Funded by ContnblJions and Earrings S SRP hare 17.49%

Projected return on investments 7.65%

Projected Inflation 5.92%

Years To Start of Decom (Fuing Yrs Left) 29 Cuwen$t 8anc Calender Amud A I.

Decorn Teifnition Years Since Year End Payment Earrings Decom Charges Ending Costs Funded mshUQ 31 -Dc nflof Adi.t ninflot Aci.1 Ch*r~

nnflat Adl.l Bdn (Ifa Ratio M

1988 940 1989 1990 541 1991 2154 1992 1,590 1993 1.787 1994 2290 1995 1.721 o.00 74 343 218 413 304 67 3.221 1996 1.517 2672 1997 1.606 4.802 1998 1,702 5.289 1999 1.422 2630 2000 1506 2W940 2001 1.595 3.280 2002 1.690 3.653 2003 1.790 4.062 2004 1,896 4.510 2005 2008 5.000 206 2Z127 5.536 2007 2.253 6.122 2008 2386 6.763 2009 2528 7.462 2010 2677 8.227 2011 2836 9,061 2012 3.004 9,971 2013 3.181 10.963 2014 3.370 12.046 2115 3.569 13.225 2016 3.780 14.510 2017 4.004 15.909 2018 4.241 17.432 2019 4.492 19.090 2020 4.758 20,894 2021 5.040 22.857

&338 24.991 2023 5.654 27,311 2024 5a9m9 29833 25 6.344 32,573 2026 6.719 35-55 2027 7.117 38.754 2028 0.00 38.670 2D29 0.00 36.099 2030 0.00 32819 2031 0.00 28.198 2032 0.00 22944 2033 0.00 16.787 2034 0.00 10.645 2035 0.00 5.010 2036 0.00 2365 2037 M.

146 1228 62806 9460 I"*

3.023 5.395 7,401 9.493 11.849 16.791 20.980 27.388 34.350 38,432 42878 47.754 53,097 58.949 65.354 72362 80.025 88.400 97.548 107.538 118.442 130339 143.313 157.458 172873 189.667 207.957 227,870 249.543 273.126 298.778 326.675 357,004 389.969 425-791 464.708 5W&977 552875 544.164 507.978 461.820 396.805 322.861 236229 149.795 70.499 33.278 Z74&35 0.00 0.00 0.00 0.00 0.00 0.00 0.00 O=0 0.O0 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 a.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 96.887 103.42D 97.079 84,3D6 39A%58 7.845 2o37

748, 960 IM839 4&.998 3.023 47,424 5.3P5 50.232 7,401 82.736 9,493 87,634 11,849 92822 16,791 93.533 20.980 99.070 27.388 104.935 34.380 111,147 38.432 117.727 42878 124.696 47.754 132078 53.097 139A897 5&949 148.179 65.354 156.951 72362 166.243 80.025 176.084 88.400 186.506 97.548 197.550 107.538 209.245 118.442 221.632 130339 234.753 1432 13 248.650 157.458 263.370 172.873 278.962 189.667 295,476 207,957 312,968 227.870 331,496 249.543 351,121 273.126 371.907 298.778 393.924 326.675 417.244 357.004 441.945 389,969 468.106 425.79 1 495.820 464.708 525.173 508977 556263 505.494 541.810 471A79 501.599 429.001 452318 368.606 385.881 299.918 311.839 219.441 226.880 139.150 143.232 65.489 67,406 30.91160 31,811 25.433.00 25.848 o00 F

0 R

E C

A s

T 2

3 4

5 6

7 8

9 10 11 12 13 14 15 16 17

?a 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 4.00%

6.37%

10.74%

8.95%

10.83%

1277%

17.95%

21.18%

26310%

30.93%

3265%

34.39%

36.16%

37.95%

39.78%

41.64%

43.53M 45.45%

47.40%

49.38%

51.39%

5n44%

55.52%

57.64%

59.79%

61.97%

64.19%

"66.45%

68.74%

71.07%

73.44%

75.85%

78.29%

80.8%

83.31%

85.88%

88.49%

91.14%

93.30%

94.07%

94.85%

95.529 96.18i%

96.72%

97.15%

97.16%

97.18 %

98.39%

100.00%

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

MiNimum Mrinimum MirdmLm

=

Percefnta Lad.

r-und A=

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%

3080%

80.00%

32.71%

81.00%

35.07%

82.00%

3752%

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%

77.53%

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%

4.166 5,918 7,598 9.479 11,018 13,248 15.731 18,491 21-554 24,949 28.707 32.862 37,451 42514 48,094 54,239 61,000 69.288 78,513 88,770 100,163 112,809 126,832 14Z371 159,575 178,610 199,657 222.912 248.590 276,929 308,185 342.639 380,600 422320 459,314 499,497 499M234 469,509 429,124 369,402 300,814 220.474 140,066 66.328 31.811 25,848 0.00 Roor Percentage SAmT Soisfiec Artuol Fun*ed 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%

34.380 YES Endng Fund Bckance EsC

% Fucde Yea 1991 1992 1993 1994 1995 1996 1997 1998 0

5.408 7398 9.498 11,849 14,477 20,980 27,388 34,380 38.432 42.878 47.754 53,097 58.949 65,354 72,362 80.025 88,400 97.548 107.538 118,442 130,339 143,313 157,458 172,873 189,667 207.957 227,870 249,543 273.126 298.778 326.675 357.004 389.969 425,791 464,708 506.977 505,494 471.879 429,001 368,606 299,918 219.441 139,150 65,489 30,914 25,433 0.00 47A646 82.736 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.,243 176,084 186,508 197,550 209,245 221 632 234,753 248,650 263,370 278,962 295,476 312.968 331,496 351,121 371,907 393,924 417,244 441.945 468.108 495,820 525.173 556.263 541.810 501.599 452.318 385M88 311"839 226,880 143.232 67,406 31,811 25,848 0.00 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 38 39 10.93%

8.94%

10.84%

12.77%

15.48%

21.18%

26.10%

30.93%

32.65%

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%

96Z2%

100.00%

100O.0O%

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014A 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2O04 2O05 2036 2037 re"KA ATrr%

0 1 tý,

ký;=`,'.'

ý smomp m

Ta-vý 1mW+LLjLMLf;UKvjtz ZF'.ý,tj FIWIRV

=

"to, Pl i~pe e4ý,& ý\\&

Zý 4 444011P P le te 4

$; Atl 4)". t)-. I~ leIJ; i~ ~ ~ ~ p~ & p a

i 6 i i 1 B I ft~ W~

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%

P.11 YZ4IW

EL PASO ELECTRIC COMPANY Annual Funding Status Report For the Year Ended December 31, 1998 Part 3. Tables and Curves 3.1 Table of Estimated Deposits. Income And Committed Accumulations to End of Fundin! Period for Each Unit:

(Curves presented are those most recently approved by the Termination Funding Committee) 3.1.1 Table For Unit 1 (In Thousands):

Year 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 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

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

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

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%

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%

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

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%

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%

28 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:

Funding Floor Committed T

Accumulationt-Accumulation

-1998 Funding Status

$ Amount Percent S-Actual 16,552 19.92 Committed 15,200 18.29 T

1Floor 12,158 14.63 891 1994 1907 2000 2003 2006 2009 2012 2015 201t 2021 2024 2027 2030 2033 29 EL PASO ELECTRIC COMPANY Annual Funding Status Report For the Year Ended December 31, 1998 100%

00%

80%

70%

60%

50%

40%

30%

20%

10%

0%

19

3.2.2 Unit 2 Curve:

100%

90%

60%

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

3.2.3 Unit 3 Curve:

100%

90%

60%

70%

60%

50%

40%

30%

20%

10%

0%

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

Palo Verde Nuclear Generating Station Units 1, 2, & 3 SCE 1998 Annual Funding Status Report Appendix B, Tab 4 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)

PJ, 3124a1 S7ORemtM

_109

".l

(1)

2)

(3)

FUNDING PLAN FUND S FS7 co FN 1991 25.499 1992 32.402 1993 38.797 1994 45,527 1995 54,963 1996 64,895 1997 75,348 S1998

86. 350 1999 97.930 2000 110,118 2001 122.945 2002 136,446 2003 150.656 204 165,.611 2W5 181.352 2006 197,919 2007 215,356 2008 233,709 20O9 253,025 2010 273,355 2011 294.752 2012 317.273 2013 340.976 2014 365,923 2015 392.380 2016 419,816 2017 448.903 2018 479,516 2019 511.737 2020 545.650 2021 581,343 2022 618.909 2023 658,448 2024 700063 2025 696.219 2026 594,779 202.7 477,988 2028 344,30a 2029 192.070 2030 69,900 2031 0

2032 2033 2034 2035 44,219 69.860 74,905 80.314 86,114 92.333 99,000 106,150 113,815 122.034 130.847 140.296 1504A27 161.290 172.937 185426 198,816 213,174 228,568 245,074 262.772 281,747 302.094 323,909 347,300 372=380 399.271 428,104 459.019 492.167 527.709 565,817 606,677 650.487 656,864 566,305 459,182 333=566 187,340 68,615 0

58%

46%

52%

57%

64%

70%

76%

81%

86%

90%

94%

97%

100%

103%

105%

107%

108%

110%

111%

112%

113%

112%

111%

110%

109%

108%

106%

105%

104%

103%

)02%

100%

SOUTHERN CALIFORNIA EDISON COMPANY 1998 PALO VERDE UNIT I FL.NDING) STAIUS (S 1O*SCDS) 0 (4)

(M (6)

(7)

(8)

(9)

FUNDING FLOOR CURVE ACTUAL FUNDING 80%

46%

20,399 27,001 44.219 61%

80%

37%

25.9=

33,787 69,860 48%

W%

41%

31.038 41,611 74,905 56%

8%

45%

36A22 45,930 80,314 57%

80%

51%

36,351 64,177 71,191 90%

80%

56%

42.746 79,273 76.331 104%

80%

61%

49,760 99,810 81,842 122%

80%

65%

56,862 122.110 87,751 139%

80%

69%

00%

72%

110%

75%

80%

78%

80%

82%

81%

85%

83%

90%

1164%

VA%

85%

94%

86%

96%

87%

98%

88%

99%

89%

100%

90%

102%

91%

103%

92%

104%

93%

105%

94%

105%

95%

106%

96%

106%

97%

107%

98%

107%

99%

107%

100%

108%

100%

106%

100%

10*%

100l%

104%

10D%

103%

100%

10o%

100%

102%

100%

l00%

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

125%

100%

75%

50%

25%

0%

Ln 0)

0) v-r) 0)

0)

0) 0)

v 0

0 e'm CM q

CM C

to 0

o0 0

0 0~

C) on o~

0) o-cm CM 0

tI 0

I 0

0)

Actual Accumulation Z& -*

$ AMOUNT PERCENT COMMITTED

$ 71,078 81%

Funding ACTUAL.

$122,110 139%

Floor FLOOR

$ 56,862 65%

Committed Accumulations

0)

0) o*

I..,

0)

SOUTHERN CALIFORNIA EDISON COMPANY 1991 PALO VERDE UNT! 2 RFUNING STAUS (S THOUSANDS)

(1) a)

(3)

FUNDNG PLAN

)T pubps ES OT

m 1991 24.496 43M6 56%

1992 31,537 68,737 M6%

1993 38,092 74.906 51%

1994 44,991 80.314 66%

1995 54,543 86,114 63%

1996 64.597 92,333 70%

1997 75.179 99,o0 76%

1998 86,317 106,150 81%

1999 98,039 113,815 86%

2000 110,376 122.034 90%

2001 123,362 130,.47 94%

2002 137,029 140.296 98%

2003 151,413 150.427 101%

2004 166.553 161.290 103%

2005 182487 172.937 106%

2006 199.259 185,A26 107%

2007 216.910 198,816 109%

200a 235,488 213.174 110%

2009 255.042 228.568 112%

2010 275,622 245,074 112%

2011 297283 262Z772 113%

2012 320.081 281.747 114%

2013 344.076 30.094 114%

2014 369.330 323.909 114%

2015 395,910 347.300 114%

2016 423.886 372.380 114%

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 587400 527.709 111%

2022 625,430 565J17 111%

2023 665.45 606.677 130%

2024 707.582 6506487 109 2025 751.921 696,716 108%

2026 790.166 742.858 106%

2027 776,927 739.787 105%

2028 657,874 631,382 104%

2029 520.952 5O3.822.

103%

2030 364.37B 3U4.929 103%

2031 186.212 182,311 102%

2032 62.940 61.939 102%

2033 0

0 100I%

2034 2035 (4)

(5)

(6)

(7)

(8)

(9)

RUNDVG FOOR CURVE ACTUAL FUNDING S_

STUNT RUNDS T C FUNDE 8%

A5%

19,597 25,943 43,826 59%

90%

37%

25.230 32.869 68.737 48%

80W%

41%

30,474 40,791 74,906 54%

80%

45%

35,993 45.358 80.314 56%

BD%

51%

37,442 63.426 73.893 86%

W16 56%

44.368 78,392 79,225 99%

80%

61%

51,648 98,759 4,948 116%

80m 65%

59.021 120,878 91,082 133%

80W%

69%

80%

72%

80*%

75%

80%

78%

80%

81%

8O%

83%

80%

&4%

81%

87%

82%

89%

83%

92%

U%

94%

85%

96%

86%

97%

87%

99%

88&%

00%

89%

101%

90%

103%

91%

104%

M 104%

93%

106%

94%

106%

95%

106%

96%

107%

97%

107%

98%

107%

99%

108%

10D%

100%

I00,%

106%

100%

105%

IO%

104%

100%

103%

I00D%

103%

100%

102%

1O0,6 102%

IOS 100%

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

120%

100%

80%

60%

40%

20%

0%

c0 LO 0 0 04j 04 CM

(

N 0 04

0) 0 C,)

U, 1%A N

0 0

U) 0 N

Cf) tfO N

0)

0) 0Y)

0)

V--

T-

0) 0)

o

SOUTHERN CALIFORCMA EDGON COMPANY 1998 PALO VEDE UNtI 3 PJNDG SIAMUS

($ THOUSANDS)

(1)

(2)

(3)

FUNDING PLAN X

FrU S*

1991 26,087 1992 34.110 1993 41.562 194 49,405 1995 59.673 1996 70.*80 1997 8.8,54 1998 93.826 1999 106.426 2000 119,688 2001 133,646 2002 1*8,336 2003 163.798 2004 180.072 2005 197200 2006 215,.7 2007 234,201 2008 254.171 200D 275.189 2010 297.311 2011 320.594 2012 345.099 2013 370.891 2014 398,037 2015 426.609 2016 456.680 2017 488.330 2018 521,641 2019 556.702 2020 593.603 2021 632.442 2022 673.319 2023 716U43 2024 761.625 2025 809,284 2026 859,446' 2027 912.241 202n 960.134 2029 951,127 2030 845,82M 2031 700.015 2M32 532.660 2033 341.615 2034 150A56 2035 0

ES COT FUNDED 48.798 53%

73.A50 46%

74.905 55%

80.314 62%

86,114 69%

92.333 76%

99,000 83 106.150 88%

113,815 94%

122.0.U 98%

130,847 102%

140,296 106%

150.427 109%

161290 112%

372.937 114%

185.426 116%

198,816 118%

213,174 119%

228.568 120%

245.074 121%

262.772 122%

281.747 122%

302.094 123%

323.909 123%

347.300 123%

372380 123%

399,271 122%

428.104 122%

A59,019 121%

92.167 121%

527.709 120%

565.817 119%

606.677 118%

650.487 117%

700291 116%

753.907 114%

811,628 112%

873.769 110%

881253 108%

793.489 107%

664M25 105%

510,759 104%

147,093 102%

(')

100%

(4)

(5)

(6)

(7)

(8)

(9)

FJt'FNG FLOOR CURVE ACTUAL FL1,DNG 80%

43%

20.870 27.730 48.79" 57%

80W%

37%

27.2N8 35,578 73,450 48%

80%

44%

33.2W0 44A73 74,906 59%

80%

49%

39,524 49.825 80,314 62%

9%

55%

46253 69A21 83.434 83%

80%

61%

54,390 85.640 89,458 96%

00%

66%

58,318 107.775 95,917 112%

80%

71%

72401 131,789 102,842 128%

80%

75%

80%

78%

80%

82M 80%

86%

80%

87%

80%

89%

80%

91%

80%

93%

81%

95%

62%

98%

83%

100%

84%

102%

8*%

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%

100%

112%

100%

110%

100l%

108%

00l%

107%

100%

105%

100%

104%

)00%

103%

100%

102%

100%

Southern California Edison Company Palo Verde Unit 3 Funding Plan CV)

O r-o)

0)

M

)

0)

T-7,-

Y-v-

CO cm cm 044 01 to 1998 FUNDING STATUS 04 0Y) 0 0r, 0

u')

0 0"

0)

T 0c cr) c~j C) to) 0c 04 P.

0) c'J 140%

120%

100%

80%

60%

40%

20%

0%

03) 03) cr, o

u) c4) O

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 PJH 3124M.

507kROPOrLieff X%

Part 3.1 Accumulation and Funding Schedule As of Ueccmhcr 31. 1998 PVNGS Units 1.2.3 (WWI00 Mellon Mellon NQ Invested After Tai Fixed Mellon qual Qualified After Mellon NQ After Tax Total Fund Qualified Earnings PUC'204 Total Tidal Fund Funding Defici X.Cm Incmg

.fslia Tat -rJain, Bt&oiumLIjW laming Egani Duaa mm CUsullIM Qud[Cmnmb rnuiiinion C udw Oak=m:

Obligada Cuizhaaku 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 7.500 423 30.433 45.565 3.075 117 3.192 48.757 44.90 2001 16.070 25.697 1.953 7.928 452 36.030 52.100 3.075 162 1.198 4.425 56.525 52.114 2002 1.372 29.65?

2.254 9.568 545 42.024 60.397 3.075 162 1.188 4.425 64.822 39.990 2003 20.813 33.918 2,578 11.301 644 48.441 69.259 3,075 162 1.183 4.425 73.684 63.581 2004 23.415 33.503 2.926 13,133 749 55.311 73.726 3.075 162 1.13' 4.425 83,151 77.897 2105 26,172 43,436 3.301 15.070 859 62.666 83.839 3,075 162 1,188 4.425 93.264 83.038 2(X)6 29,101 43.744 3.705 17.117 976 7(.541 99.643 3.075 162 1.133 4.425 104.068 99.047 2(W7 32.212 54.456 4.139 19.281 1.099 73.974 111.136 3.075 162 1.133 4.425 115.611 110.923 2008 35.515 60.601 4.606 21.568 1.229 883.04 123.520 3.075 162 1.188 4.425 127.945 123.750 2009 39.024 67.214 3.106 23.985 1.367 97.675 136.699 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 46.7116 31.935 6.231 29.241 1.667 119.124 165.830 3.075 162 1.193 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 4,425 156,339 187,007 668 2013 55.371 99.0117 7.531 33.782 2.040 144.439 199.310 3.075 162 1.138 4.425 204,235 206.253 2.023 2014 60.110 103.625

.255 41.033 2,339 160.252 220.362 3.075 162 1,188 4.425 224.787 226.867 2,080 2015 65.143 113.837 9.033 46.640 2.653 177,221 242.364 3.075 162 1,131 4,425 246.789 243,929 2,140 2016 70.483 129.930 9.875 52.626 3,000 195.430 265.918 3.075 162 I,133 4,425 270,343 272.508 2.165 2017 76.165 141.811 10.778 538.979 3.362 214.929 291.094 3.075 162 1.183 4.425 295.519 293.929 3.310 2018 82.193 154.596 11.749 66,833 3.810 236.993 319.187 3,075 162 1.18 4.425 323.612 326.933 3.321 2019 88.595 168.352 12.79" 75.1538 4,24 260.539 349.184 3.075 162 1.188 4.425 353,609 356.895 3.236 2020 95,394 183.154 13.920 83.916 4.783 235.773 331.167 3.075 162 1.133 4.425 335.592 388.836 3.244 2021 102.615 199,081 15.130 93.131 5.303 312.650 415,265 3.075 162 1.138 4.425 419.69n 422.886 3.196 2022 110.284 216.218 16.433 102.823 5.361 341.334 451.613 3.075 162 1.183 4.425 456.043 459.958 3.915 2023 118.427 234.6531 17.834 113.787 6.486 372.764 491.192 3,075 162 1,138 4.425 493.617 499.367 3.750 2024 127.076 254.49" 19.342 125.211 7.137 406.138 533.265 3.075 162 1.318 4.425 537.690 533.313 2025 136,261 275.47 20.964 133.536 7,612 437,959 574.221 3.075 162 1.188 4,425 578.646 565.835 2026 146.016 298.819 22.710 142.336 3.113 471.971 617.993 3..075 162 1.188 4.425 622.418 595.895 2027 156.375 323.336 24.5389 151.637 8.643 50M.405 664.780 3.075 162 1.188 4.425 669.205

.38.098 T1tal Contfibulion 154.350 PV of Contributions 31.366 Equivalent Annual Contritlmon 4,689 Equivalcn Annual Per Unit 1.563 NDTCONMR-I'..

Pw 12

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

Funding Plan Year Fund S at. 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.,30 71.812 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 16,663 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 Funding Floor Curve Criteria Percent S Amount 3.81%

7.65%

12.63%

13.69%

15.27%

16.801/9 18.18%

19.64%

21.691/6 24.23%

26.790/9 29.37%

31.98%

34.59%

37.23%

39.89%

42.55%

45.21%

47.99%

50.691/

53.35%

56.21%

59.04%

61.85%

64.63%

67.38%

70.37%

73.32%

76.23%

79.10%

81.93%

84.97%

87.98%

91.27%

92.52%

806/

80%

80%/0 80%

80%

806/

800/0 800/O 80%

09%

81%

82%

83%

84%

85%

86%

87%

88%

8W/

90%

91%

92%

93%

94%

95%

96%

97%

98%

99'/*

100%

3.05%

6.12%

10. 100/9 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%

4K.900/.

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%

Aclual Funding Fund S aEs. Cost 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 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 Page 13

% Funded 3.81%

5.18%

7.79%

8.29%

9.21%

16.77%

19.73%

26.49%

Public Service Company Of New Mexico Palo Verde Unit 1 100.00%

IIJ ::1998.,Fujnd'in'ýg Status

j.

ý

~

I.ot w,.$405

~

1~1 iM~t JIM I~~

~ ~~ 6i'S'44~~t.

Mrow 41ý 4000%

t 35umlt9n

%~~

~

)v~*

"i~

0.O0-.i. -It AN-1 i

I Page 14

PUBLIC SERVICE COMPANY OF NEW MEXICO PALO VERDE UNIT 2 (5000)

Funding Plan Funding Floor Curve Actual Funding Year "und £ Eit. Costs

% Funded Criteria Percent

£ Amount Fund S "s. Cost

% Funded 1991 1.096 28.499 3.85%

80/.

3.08%

877 1,096 28,499 3.85%

1992 3.426 44,375 7.72%

80%

6.18%

2,741 2.334 44.375 5.26%

1993 5.936 46,594 12.74%

80%

10.19%

4.749 3,691 46.594 7.92%

1994 6,756 48,923 13.81%

80%

11.05%

5,405 4,117 48.923 8.42%

1995 7,346 47,703 15.40r/.

80%

12.32%

5,877 4.235 47,703 8.88%

1996 8,485 50,088 16.94%

80%

13.55%

6,788 8.479 50.088 16.93%

1997 9,645 52,593 11.34%

800/9 14.67%

7,716 10,368 52.593 19.71%

1998 10,940 55.222 19.81%

80%

15.85%

8,752 14,528 55,222 26.31%

1999 12,687 57.983 21.88%

80%/,

17.5(1%

10,149 2000 14,880 60,882 24.44%

800%

19.55%

11.904 2001 17,273 63,927 27.02%

80%/.

21.62%

13,818 2002 19.882 67.123 29.62%

80%

23.70%

15,905 2003 22.729 70,479 32.25%

8(/.

25.80/.

18,184 2004 25,820 74,003 34.89%

80"/.

27.91%

20,656 2005 29,178 77,703 37.55%

80/.

30.04%

23,342 2006 32,831 81,588 40.24%

81%

32.59%

26,593 2007 36,769 85.668 42.92%

82%

35.19./.

30.150 2008 41.018 89.951 45.60%

83%

37.85%

34.045 2009 45,713 94,449 48.40%

84%

40.66%

38.399 2010 50,706 99,171 51.13%

85%

43.46%

43.100 2011 56,032 104,130 53.81%

86%

46.28%

48.188 2012 61,983 109.336 56.69%

87%

49.32%

53,925 2013 68,365 114,803 59.55%

88%

52.40%

60.161 2014 75,195 120,543 62.38%

89%

55.52%

66.923 2015 82,511 126,570 65.19%

900/

58.67%

74,260 2016 90,331 132,899 67.97%

91%

61.85%

82.201 2017 99,048 139.544 70.98%

92%

65.30%

91.124 2018 108,367 146.521 73.96%

93%

68.78%

100.781 2019 118,293 153,847 76.891/9 94%

72.28%

111,195 2020 128,876 161,539 79.78%

95%

75.79e/9 122,432 2021 140.171 169.616 82.64%

96%

79.33%

134.564 2022 152.451 178,097 85.60%

97%

83.03%

147,878 2023 165,328 187,002 88.4 1%

98%

86.64%

162,022 2024 178,739 196.352 91.03%

99V./

90.12%

176,952 2025 189,264 206,170 91.80%

1 0(r/0 91.80%/0 189,264 Page 15

Public Service Comany of New Mexico Palo Verde Unit 2 120.00%

~*..

~

1 998 Furid ing StatjS.I P.~

i

~

0

)

cent

ý.,

ip.

.,.f 1 ;.j~.

100.00%

'a.

'~

a~'

. 4

j.

v.

Va 26.31 W

I i

pi I,

5"

~

I' IA 80.00%

11

_6...A

.~,

&';* ~'~l

.)

.9

'ý.:~ I tt 4'ýli 20.00%

tit,

-I I

a n

j Pagp 16

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

Funding Plan Year Fuind $

Est. Costs

% Funded Funding Floor Curve Criteria Percent A mount Actual Funding Fund S Est. Cost 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 18.34 I 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.,30 161.882 175,529 189.804 200,829 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%

50.600/9 53.31%

56.00%

58.66%

61.30%

63.91%

66.75%

69.55%

72.31%

75.03%

77.71%

80.50./0 83.13%

85.61%

86.27%

Page 17

% 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%

80%

80%/0 80%

80%

80"/.

80%

81%

82%

83%

84%

85%

86%

87%

88%

89%/0 90%

91%

92%

93%

94%

95%

96%

97%

98%

990/0 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%

578 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 96.760 107.010 118,076 130,011 142.876 157,025 172,018 187.906 100%/9 86.27%

200.829

Public Service Company of New Mexico Palo Verde Unit 3 4nno I*UUUIO I"

';S*

1998 Funding Status 4.7

.o 1 4 *lC '*

"""*' $($000)..,i.

Percent 4.4.;

v Committed'j,

$11; 1616 9

.63%-,

A c t u a l.....

Floor:!'

937'".

14.190%

4

. r 1 4

,t I

f. L 41 6 0.0 0 %

. ; =..,,.. ;,

00%Committed Funding Floor Accumulations

',:,~~

20.00%'"

tual Accumulations 0.00%

Page 18 4 "I N NNO/_

I I I I I 14'.

-;.,.)t,,*.,' r ',1,.'.

,(

"1:.

. 4' X,,,.

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 PJ. 3124/h soT*Rwe* tm m

OUTHERN CALIFORNIA PUBLIC POWER AUTHORITY

'Ilo Verde Project - Termination Cost Funding WWI 11toamnm Mg UtmA MIM

'nummmu DU=

3h "AM wmwiB UL* =

i*a uam mxx EC 31, 1990 20 N 3N0, 1991 II

-CC 32, 1991 12 1 IN*30.

M992 13

)'C 3I, 1992 14 IN 30.

2993 Is

)EC 31.

2993 26 IIN 30, 1994 17 PEC 32, 1994 I

3 IIN 30.

1995 19

'EC I, 2995 20 UIN 30, 1996 21

PEC311, 1996 22 1 YN30, 1997 23

-EC 31, 1997 24

[INt30, 2199 25

,FC 3 1, 2993 26 SINS30.

1999 27

,PC31, 1999 23 IN 30.

2000 29 P*C 3I, 2000 30

, IN 0.

2001 31

+

1C31. 2001 32 S1130, 2002 33

,PC 31.

2002 34 IN 30, 2003 35 PC 31, 2003 36 IN 30, 2004 37 FC 31, 2004 33 IN 30.

2005 39 PC 31, 2005 40 YN 30, 2006 41 iC 31, 2006 42 IN 30, 2007 43 PC 31, 2007 44 I1 30.

2001 45 FC 311, 2003 46 IN 30, 2009 47 EC 3, 2009 48 so 0

0 0

0 1,240.620 1,240,620 1,239,330 1,240.620 1,654,160 327,080 1,240,620 285,434 283,.434 285,.434 235,434 285.414 215.414 28,.434 215,434 285,434 285,434 285.434 235,434 235,434 2835,434 2115,434 235.434 235,434 235,434 285,434 285,434 235.434 285,434 S14,217.604 3425,326 14,862,930 363,310 12,226.810

29,039 15,197.771 363.834 15.761,625 "792,974 16,553,.99 264,949 7.103,.47 229,612 7,133,029 15.171 7,349,900 416,261 7,136.165 302.795 9,379.580 244,149 10.64.349 440,971 12,544.700 670,975 14,456,295 206,445 16,316,900 37,721) 17,731.693 697,175 19.630,188 670,171 20,53,993 703,012 21.574,440 736,767 22.%96.64 2 771.675 23.653,751 107,776 24,746.962 345,109 25,177,504 333,717 27,046,655 923,643 28.255,.733 964,933 29,.506,10 1,007,633 30,799.169 1,051,792 32,136,395 1,097.453 33.519.237 1,144.694 34,949,405 1,193,522 36,428,.362 1,244,029 37,957,325 1,296.260

.39,539.519 1,350,275 41,175,223 1,406,134 42,366,797 1.463,901 44,616,133 1.523,641 46.425,203 1.535.421 48,*29.063 1,649,311 50.230.03 514,317.900 50 S1,117,240 15.505,140 0

0 0

0 1.280,640 1,280,640 1,279,360 1.276,640 1,703,520 853,760 1,276,640 295,.723 295,723 295,723 29,.723 295,723 295,723 295,723 295,723 295,723 29S.723 295,723 295,723 295,723 295,723 295,723 295,723 295,723 295,723 295,.723 295,723 295,723 295,723 443,094 12,943,214 147.301 16,095,535 623,452 16,712,987 711,934 17.430,921 593,006 7,962.403

-345,413 7,616,990 9.010 7.626,000 609.10 1,235,310 233,314 9,749,764 132669 I1,163,073 453.767 12,896.400 686,710 14.8,59.750 191,930 16,755,200 540,181 18,149.141 594,163 20.019.944 6831,681 20,999.343 717,128 22,012.199 751.717 23.059.639 737,437 24,142,849 124,478 25,263,050 162.733 26.4212507 902.294 27.619,524 943.207 283853,454 983,516 30,139,694 1,029.271 31.464,638 1,074,519 32,834,930 1,121,313 34,2,1,966 1.169,705 35.717,394 1,219,749 37,232.866 1.271.502 38.800.091 1232,023 40.420,313 1,380,372 42,096,933 1.437,610 43,330,266 1.496%,04 45,622,793 1,558.012 47.476,534 1.621.324 49.393.531 1,686.791 5,1376.095 S5.3596,791 10 51,440,621 16.837,412 A I 0

0 0

0 1.430,740 1.480.740 1.479.260 1,480,740 1,974,320 987,160 1,480,740 367.906 367,906 367,906 367,906 367.906 367.906 367.906 367.906 367,906 367.906 367.906 367,906 367.906 367,906 367,906 367.906 367.906 367,906 367,906 367.906 367,906 367.906 335,474 17.222,886 297,481 17,520,367 913.291 11,453,665 1,081,173 19.534,843 169.679 7.830.305

.153,556 7,676,749

.12,449 7.664.300 578.102 3.242.402 261,846 9,934,988

-19.451 11.446,277 411.643 13,317,200 632,114 15S.500.054 142,126 17,616,500 726,204 19.329,84 593,333 21.404.492 730.963 22.503,361 761.490 23,639.756 307,293

.24,814,959 347,431 26,030.296 333,935 27.287.136 931.356 23.536,197 976,243 29.931,045 1,022,145 31,321,096 1,069,615 32,758,617 1,2 13,707 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

,.390.453 42,475.382 1,450,534 44.295,822 1,512,634 46,174,362 I,576.854 48,119,122 1,643,261 50,110.295 1.711,950 52.210,150 1.712.977 54,361,033 1,356,429 56,53"5367 544.022,295 50 S3,.113,117 47,205,.482 0

1,192.443 48,397,930 0

415,743 48,813.673 0

2.120.604 50.934.277 0

2.5385.016 53.519.363 0

1,026.634 22,896,055 0

.269,237 22.626,763 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 3,993,000 1,306.601 33,T38,300 3.998,000 2,039.799 44.316,099 5,332,000 540.501 50,683,600 2,661.000 1,154,099 55,210,698 3,99,.000 1,845,926 61.054,6241 949,063 2,035,015 64.088.703 949,063 2,131,629 67.226.395 949.063 2,.95.731 70,471.240 949.063 2,406.593 73,826.896 949.063 2.521.123 77.297.147 949,065 2,639,66 30o.835.90 949,063 2.762.254 84,.597,225.

949,063 2.33,,995 13.435,21) 949,063 3,020,065 92,404.412 949.063 3.15,5611 96,509,085 949,063 3,295,.785 100.753,934 949,063 3,440.747 105.143.744 949.061 3.590,659 109,631,466 949,063 3,745,690 214,378,220 949.063 3.906,016 119.233.299 949.061 4,071,817 124,254.179 949,063 4,243,230 129.446,523 949,063 4,420,599 134,816.115 949,063 4.603,973 140.369,221 949.061 4,791.609 146.111.89, 949,063 4,989.721 152,050.677 949,061 5,192,531 1538.192,271 Page 10 tiNt? 2 UNIT 3 GRAND TOTAL "ldl d[£ I14.

UNIT 2

Palo Verde Project - Termination Cost Funding 47 295,723 48 295.723 49 295,723 50 295.723 51 295,723 52 295,723 51 295,723 54 295,723 55 295,723 56 295.723 57 295,723 5I 295,72) 59 295.723 60 295.723 61 295,723 62 295,723 63 295,723 64 295,723 65 293.723 64 295.723 67 295.723 63 295,723 69 295,723 70 293,723 1,754,494 1.824,509 1,196,914 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 2.8 M6,6 2.984,993 3,097,034 3.212.897 3.332,717 3,456,623 3.534,771 3,717.239 3,54,334 3.99,.058 4,142,623 UNIT 3 WAK tn-M COtN21mm 53,426.312 55.546,544 57.739.132 60.006.691 62,351,650 64.776.682 67.214,529 69,871,019 72,560,076 75,333,726 78.202.096 81,168,421 84.236,045 87,408.429 "90,689,151 94.081,908 97,590,529 101.218,963 104,971,319 101,851,313 112.164,126 117,014.113 121.306,664 125,743,010 45 367,906 46 367.906 47 367.906 41 367,906 49 367,906 50 367.906 51 367,90M 52 367.906 53 367,906 54 367,906 55 367.904 56 367,904 57 367.90w 5s 367,906 59 367,90.6 60 367.906 61 367.906 62 367,906 63 367,906 64 367.906 65 367.906 46 367.906 67 367.904 63 367,906 69 367,906 70 367,906 1.932.390 2.010.945 2,092,113 2,176,195 2.263,076 2,352.924 2,445.341 2.541,930 2,641,.01 2,744,065 2,350.339 2,960,242 3.073,198 3.191,436 3,312,931 3,438,690 3.563.685 3,703.120 3,42,145 3,985,919 4,134,602 4.283,362 4.447,374 4,611,316 4,781,373 4.957,733 ORKAND TOTAL ApAM Ymw WE=

51,885.663 61.264,514 63.724,601 "64,263,703 63,399,615 71.620,515 74,434.261 77,344,097 30,353,303 13,465,274 86,6133,18 "90.011,666 93,453.470 97.012,812 100,693,705 104.500,300 101,436,391 112.507,916 116.717.967 121,071,791 125,.574.298 I130,230,56 135,045,246 140,025.$47 145,175,345 150,500,919 949,06) 949,063 949,063 949,063 949,063 949,063 949,063 949,063 949.063 949,063 949,063 949,063 949,063 949,063 949.063 949.063 949.063 949,043 949,043 949,063 949,.03 949.063 "63,629 643,479 367.90W 367.904 5,402.2"4 164,543,600 5,619.164 171.111,827 5,343,469 177,904.359 6,075.434 184,928,856 4,315,3.20 192,193.240 6,543,399 19".705.702 6.819,950 207,474,715 7,035.262 215,309.040 7,359.,34 223,17,737 7.643,.376 232,410.176 7,936,803 241.296,047 8.240.260 250,485,370 3,554,075 259,933,B5

,8?.73,09 269.316,179 9.214.223 279.979,465 9.M1.299 290,489,327 9.920.228 301.359,111 10,291,414 312.599.595 10,675.276 324.223.934 11,072.247 336,245.245 11,432,775 348,677,033 11.907,322 361,533,469 3,443,432 256,352,310 8,754,438 265.770,377 4,781,73 145,175,345 4.97,78 130,5900.9 Page I 1 w~rr I UAW OQtvufwn OUM uwrr2

& NME uAM mmuum*

EUU 49 50 51 52 53 54 55 56 57 53 59 60 61 62 63 64 65 67 63 69 70 JUN3*0, 2010

DEC31, 2010 AIN 30, 2011

DEC31, 2011 JUN3 0, 2012 DEC31.

2012 JUN 30, 2013

DEC31, 2013

JUN310, 2014

DEC31, 2014

JUN30, 2015

DEC31, 2015

JLUN30, 2014 DEC 31, 2016 J N30.

2017

DEC31, 2017 JUN3 0, 2018

DEC31, 2013 JUN 30, 2019

DEC31, 2019 U N30, 2020 DEC 3 1, 2020

AUN30, 2021 DEC 31, 2021 AJlN 30, 2022 DEC 31, 2022 235,434 2235,434 285,434 285.434 235,434 285.414 285,434 235,434 285,434 285.434 235,434 235,434 215,434 2835.434 235,434 285,434 285,434 235,434 2135,434 215,434 235.434 285,434 1,715,382 1,733,710 1,854,371 1,927.446 2,003,015 2.011,16.

2,161,985 2.245.565 2.33.991 2,421.334 2.513,822 2,609.416 2,701,275 2.110.511 2,916.237 3.025,574 3,131,645 3.255.577 3,376,503 3.501.553 3,760.184 3.764.626 52,231,625 54,300,769 56,440,575 58,653,455 60.941,905 63,303,506 65,735.926 6.236,925 70,904,358 73,611.176 76.410.432 79,305,.23 32.291.993 85.394.938 13,596,610 91.07,619 95,331,698 "n,872,710 102,534,641 106,321,640 110,237.9S9 114.231,020 IUnAJ

SCPPA PALO VERDE UNIT 1 FUNDING PLAN F

r -

T T - T V1 r

I -

T I -

r -

T -

T T -

T T

7 r -

¶

p, -

-

I I

I I7 1

1-

-t 1

-t-t-

P4~- 1 4J-4-

-4 I-A TL AL lot

-1 1y A"

I FF-*G*

,3r 80%

70%

0 "u 60%

0 z 1.-

50%

z

'u S40%

IL 30%

20%

10%

1997 2000 2003 2006 2009 YEAR FI~

i OMMITr CTUAL LOOR 1998 FUNDING STATU.

AMOUNT PERE.*

ED

$12,686,000 40%

$19,630,000

$10,149,000 I I I I I I I I I I -

I -

62%

32%

2012 2015 2018 2021 2024 PAGE 12 100%

90%.

-A 0%

A, A-1991 1994 II I I I I I I I II Sm u

/

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

(l =(z*

}(2) 3 (4)

(5) = J * +)

(6) - (I IL 4) m.p s

2

' - (7 1 8)

AUTHORIZED FUNDING PLAN FUNDING FLOOR CURVE ACTUAL FUNDING YEAR FUND ESTCOST

%FUNDED CRITERIA PERCENT AMOUNT FUND EST. COST

%FUNDED DEC 1991

$4,225

--$16,565-26%

80%

20%

£3,380 S15,227 S16,565 92%

DEC 1992 5,176 26,915 19%

80%

15%

4,141 15,762 26,915 59%

DEC 1993 6,782 28,530 24%

80%

19%

5,426 7,103 28,530 25%

DEC 1994 7,597 30,242 25%

80%

20%

6,078 7,350 30,242 24%

DEC 1995 7,190 26,629 27%

80%

21%

5,752 9,380 26,629 35%

DEC 1996 9,033 28,227 32%

80%

25%

7,226 12,545 28,227 44%

DEC 1997 10,771 29,920" 36%

80%

29%

8,617 16,317 29.920 55%

DEC 1998 12,686 31.716 40%

80%

32%

10,149 19,630 31,716 62%

DEC 1999 14,792 33,618 44%

80%

35%

1 1,834 DEC 2000 16,392 35,636 46%

80%

37%

13,114 DEC 2001 19,265 37,774 51%

80%

40%

15,412 DEC 2002 21,622 40,040 54%

80%

43%

17,297 DEC 2003 24,192 42.443 57%

80%

46%

19,354 DEC 2004 26,993 44,989 60%

80%

48%

21,595 DEC 2005 30,044 47,688 63%

81%

51%

24,335 DEC 2006 33,363 50,550 66%

82%

54%

27.358 DEC 2007 36,972 53,583 69%

83%

57%

30,687 DEC 2008 40,326 56,798 71%

84%

60%

33,874 DEC 2009 44,552 60,206 74%

85%

63%

37,869 DEC 2010 48,502 63,818 76%

86%

65%

41,711 DEC 2011 53,441 67,647 79%

87%

68%

46,494 DEC 2012 58.082 71,706 81%

88%

71%

51,112 DEC 2013 63,087 76,008 83%

89%

74%

56,147 DEC 2014 68,483 80,569 85%

90%

77%

61,635 DEC 2015 74,300 85,403 87%

91%

80%

67,613 DEC 2016 80,569 90,527 89%

92%

82%

74,123 DEC 2017 80,431 95,959 91%

93%

85%

74,801 DEC 2018 86,826 101,716 93%

94%

88%

81,616 DEC 2019 93,665 107,819 95%

95%

91%

88,982 DEC 2020 114,238 114,288 100%

100%

114,288 DEC 2021 120,002 120,002 1004/6 100%

100%

120,002 DEC 2022 126,003 126,003 100%

100%

126,003 DEC 2023 132,303 132,303 100(/

100%

132,303 DEC 2024 138,918 138,918 100%

100%

138,918 DEC 2025 145,864 145,864 100%

100%

145,864 Page 13

SCPPA PALO VERDE UNIT 2 FUNDING PLAN 100%

90%

80%

m A ACT I JALj 70%

wu 60%

0 zli I-50%

9L ~40%

30%,

20% -

COMMI'I 10%

ACTUAL 20%

FLOOR PAGE 14 I

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

SOUTHERN CALIFORNIA PUBLIC POWER AUTHORITY 1993 PALO VERDE UNIT - 2 FUNDING STATUS TERMINATION COST FUNDING (S THOUSAND)

DEI DEl DE' DE DE(

DE DE(

IDE DE(

DEl DEl DE4 DEE DE4 DEE DE DEE DE4 DEE DEE DEE DEE DEE DEE DEC DE(

DE(

DEC DEC DEC DEC DEE DEC DEE DEE DEE (I)-(2z3) '

(2)

CO)

(4)

(s)-(3m4)

(4)-(114)

AUTHORIZED FUNDING PLAN FUNDING FLOOR CURVE YEAR FUND EST. COST

%FUNDED CRITERIA PERCENT AMOUNT C

1991 S3,966

$16,423 24%

80%

19%

$3,173 C

1992 4,932 26,483 19%

80%

15%

3,946 C

1993 6,548 28,072 23%

80%

19%

5,238 C

1994 8,515 29,756 29%

80%

23%

6,812 C

1995 3,568 27.640 31%

80%

25%

6,855 C

1996 10,254 29,298 35%

80%

28%

8,204 C

1997 12 112 31,056 39%

80%

31%

9,690 C

1998 14,1 5 32,920 43%

80%

34%

11,324 C

1999 16,401 34,895 47%

80%

37%

13,120 C

2000 18,494 36,989 50%

80%

40%

14,795 C

2001 20,780 39,208 53%

80%

43%

16,624 C

2002 23,689 41,560 57%

80%

45%

18,952 C

2003 26,432 44,054 60%

80%

48%

21,146 C

2004 29,419 46.697 63%

80%

50%

23,535 C

2005 32,669 49,499 66%

80%

53%

26,135 C

2006 35,679 52,469 68%

81%

55%

28,900 C

2007 39,488 55,617 71%

82%

58%

32.380 2008 43,626 58.954 74%

83%

61%

36,210 C

2009 47,493 62,491 76%

84%

64%

39,895 C

2010 52,330 66,241 79%

85%

67%

44,481 C

2011 56,874 70,215 81%

86%

70%

48,912 C

2012 61,775 74,428 83%

87%

72%

53,745 C

2013 67,060 78,894 85%

88%

75%

59,013 2014 72,756 83,628 87%

89%

78%

64,753 2015 79,781 88,645 90%

90%

81%

71,803 2016 86,447 93,964 92%

91%

83%

78,667 2017 93,626 99,602 94%

92%

86%

86,136 C

2018 100,299 105.578 95%

93%

89%

93,278 7

2019 108,555 111,913 97%

94%

91%

102,042 2020 117,441 118,627 99%

95%

94%

111,569 C

2021 125,745 125,745 100%

100%

125,745 2022 132,032 132,032 100%

100%

132,032 2023 138,634 138,634 100%

100%

138,634 C

2024 145,565 145,565 100%

100%

145,565 C

2025 152,844 1 i2,844 100%

100%

152,844 C

2026 160,486 160,486 100%

100%

160,486 (7)

()-

(2)

M3)-(7Im)

ACTUAL FUNDING FUND EST. COST

%PUNDED

$15,948

$16,423 97%

16.719 26,483 63%

7,962 28,072 28%

7,626 29,756 26%

9,750 27,640 35%

12,896 29,298 44%

16,755 31.056 54%

20,020 32,920 61%I Page 15

Revised SCPPA PALO VERDE UNIT 3 FUNDING PLAN 1994 1997 2000 2003 2006 2009 YEAR 2012 2015 2018 2021 2024 Page 16 0 a 1Li 0 z IL.

Iz LU US 100%

90%.

80%

70%

60%

50%

40%

30%

20%

10%

0%

1991 2027

SOUTHERN4 CALIFORNIA PUBLIC POWER AUTIIORITY 1"8 PALO VERDE UNIT - 3 FUNDING STATUS TERMINATION COST FUNDING (S THOUSAND)

(I)(-2u3)

(2)

(}

(4)

(5)-Clad)

(6)-(I 14)

(7M (M)o(2l (9)-(718)

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

%FUNDED CRITERIA PERCENT AMOUNT FUND EST. COST

%FUNDED DEC 1991 S3,098

$18,225 17%

80%

14%

$2,478 S17,223 S18,225 95%

DEC 1992 4,125 28,298 15%

80%

12%

3,300 18,454 28,298 65%

DEC 1993 5,769 29,996 19%

80%

15%

4,615 7,830 29,996 26%

DEC 1994 8,375 31,796 26%

80%

21%

6.700 7,664 31,796 24%

DEC 1995 9,051 31,209 29%

80%

23%

7,240 9,985 31,209 32%

DEC 1996 10,917 33,082 33%

80%

26%

8,734 13,337 33,082 40%

DEC 1997 12,624 35,066 36%

80%

29%

10,099 17,617 35,066 50%

IDEC 1998 14,868 37 170 40%

80%

32%

I 895 2 404 37l 170 58%[

DEC 1999 17,336 39.401 44%

80%

35%

13,869 DEC 2000 19.629 41,765 47%

80%

38%

15,704 DEC 2001 22,135 44,271 50%

80%

40%

17,708 DEC 2002 24,871 46,927 53%

80%

43%

19,897 DEC 2003 27,856 49,742 56%

80%

45%

22,285 DEC 2004 31,109 52,727 59%

80%

47%

24,887 DEC 2005 34,652 55,891 62%

80%

49%

27.722 DEC 2006 37,916 59,244 64%

80%

52%

30.333 DEC 2007 42,075 62,799 67%

80%

54%

33,660 DEC 2008 45,931 66,567 69%

81%

56%

37,204 DEC 2009 50,804 70,561 72%

82%

59%

41,659 DEC 2010 55,348 74,794 74%

83%

62%

45,939 DEC 2011 60,254 79,282 76%

84%

64%

50,614 DEC 2012 46,391 84,039 79%

85%

67%

56,432 DEC 2013 72,156 89,081 81%

86%

69%

62,054 DEC 2014 78,374 94,426 83%

87%

72%

68,185 DEC 2015 85,078 100,091 85%

88%

74%

74,868 DEC 2016 92,304 106,097 87%

89%

77%

82,151 DEC 2017 98,967 112,463 88%

90%

80%

89,071 DEC 2018 107,290 119,211 90%

91%

82%

97,633 DEC 2019 116,254 226,363 92%

92%

85%

106,954 DEC 2020 125,908 133,945 94%

93%

87%

117,095 DEC 2021 134,883 141,982 95%

94%

90%

126,790 DEC 2022 150,501 150,501 100%

100%

150,502 DEC 2023 158,026 158,026 100%

100%

158,026 DEC 2024 165,927 165,927 100%

100%

165 927 DEC 2025 174,223 174,223 100%

100%

174,223 DEC 2026 182,934 182,934 100%

100%

182,934 DEC 2027 192,081 192,081 1000/%

100%

100%0 192,081 Pnpe 17

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 Appendix B, Tab 7 5%

7.00%

5.7%

35 years for each unit Includes Water Reclamation Facility and 25% Contingency Factor 507SRepod19 Wie PJ.M Y24ffg

Department of Water & Power P2lo Verde Project Termination Coat Funding nIIt Dab=,

Unit 2 Unit, 3/d Total 12/31u90 nhtan I

b E

Contribution l i

P.anu

£,io GonjUibik Interet Bala.nc mib n

nteri t

IRIAk 12/31/90 10 2.4.200 9

2,159,244 6

1.493,407 0

0 6.096.851 6/30/91 11 223,326 106,706 2.774P232 9

232,478 105,780 2,497,502 7

270,890 71.900 1,836,197 726,694 284,386 7,107,931 12/31/91 12 223,326 428,941 3,426,499 10 232,473 490.438 3.220,418 8

270.890 432,437 2,539,524 726.694 1,353,816 9,186.441 6/30/92 13 223,326 116,869 3.766,694 it 232,478 111.934 3.564,830 9

270,890 77,462 2,887,876 726,694 306,265 10,219,400 12/31/92 14 434,027 104.872 4,305.593 12 423,694 129,716 4,118,240 10 464.724 84.937 3.437,537 1,322,445 319.525 11,861.370 6/30/93 15 "S,545 90,854 4,841,992 13 421,072 173,551 4,712,863 11 477,502 111,010 4,026,049 1,344.119 375,415 13,580.904 12/31/93 16 431,919 87,753 5,361.664 14 414,884 93.888 5,221.635 12 462,937 52.475 4.541,511 1,309,790 234,116 15,124.810 6/30/94 17 431,919 111.532 5,905,115 15 414,884 10,343 5,646,862 13 462,987 47.978 5.052,476 2,309,790 169.853 16,604,453 12/31/94 i8 431,919 (131,334) 6,205,700 16 414,884 (120.146) 5,941,600 14 462,937 (159,863) 5,355,600 1,309.790 (411,343) 17,502,900 6/30/95 19 431,919 404.898 7.042,517 17 414.884 339,916 6,696.400 i5 462,987 295.915 6.114.502 1,309,790.

1.040.729 lm.853.419 12/31/95 20 1,755,562 262,538 9.060,617 i8 1.669,739 235,585 8,601,724 16 1,884,499 181,886 8,180.887 5.309.800 680.009 25,843.228 6/30/96 21 1,755.562 260,302 21,076,481 19 1,669,739 197,615 10,469,078 17 1.884.499 152,131 10,217,517 5,309.800 610.046 31,763.076 12/31/96 22 1,593,396 258,223 12,928,100 20 2.753,112 211.610 12,433,800 18 1,963.492 150,991 12.332.000 5.310,000 620,824 37,693.900 6/30/97 23 1,593,396 247.064 14,768.560 21 1,753,112 238,202 14,425,114 19 1,963,492 184,812 14.480,304 5,310,000 670,078 43,673.978 12/31/97 24 1,593.396 565.873 16,927.829 22 1,753.112 583,850 16.762.076 20 1,963.492 399.527 16,843,323 5,310,000 1,549,250 50,533.228 6/30/98 25 1.. 93.* 96 738,933 19,260,158 23 1753112 794564 19.309752 21 1.963.492 549,326 19-356.14 5,310,000 2.082,823 57.926.051 2231/98 26 259396 996208 22849762 24 1753112 653844 21716708 22 1963492 511 71 21831004 5 20000 2161423 65 97474 6/30/99 27 (121,521) 764,742 22.492,983 25 (98.718) 760,085 22,378.074 23 (112968) 764.085 22,583,121 (232.208) 2,288,912 67,454,178 12/31/99 28 (121,521) 787,254 23.258,716 26 (98.718) 783,233 23,062,588 24 (11,968) 790.409 23,361,562 (232,208) 2,360,896 69.582,867 6/30/00 29 (121,521) 810,555 23,847,751 27 (98,718) 807,191 23,771,061 25 (11,968) 817,655 24,167,248 (232.208) 2,435,400 71,786,060 12/31/00 30 (121,521) 834,671 24,560,901 28 (98,718) 831,987 24,504,329 26 (11,968) 845,854 25,001,134 (232,208) 2,512,512 74,066,364 6/30/01 31 (121,521) 859,632 25,299,012 29 (98,718) 857,652 25,263,262 27 (11,968) 875,040 25,864,205 (232,208) 2,592,323 76,426,479 12/31/01 32 (121,521) 885,465 26,062.956 30 (98.718) 884,214 26.048.758 28 (11,968) 905,247 26.757,484 (232.208) 2,674.927 78,869,198 6/30/02 33 (121,521) 912,203 26,353,639 31 (98,718) 911,707 26,861,746 29 (11,968) 936,512 27,682,027 (232,208) 2,760,422 81,397,413 12/31/02 34 (121.521) 939.877 27,671,996 32 (98,718) 940.161 27,703.189 30 (11.968) 968,871 28,638,930 (232,208) 2,848,909 84,014,114 6/30/03 35 (121.521) 968,520 28,518.995 33 (98.718) 969,612 28.574,082 31 (11.968) 1.002,363 29.629,324 (232,208) 2,940.494 86,722,401 12/31/03 36 (121.521) 998,165 29,395,639 34 (98,718) 1,000.093 29,475.456 32 (11.968) 1.037,026 30,654,382 (232,208) 3,035,284 89,525,477 6/30/04 37 (121.521) 1,028,847 30,302,965 35 (98.718) 1,031.641 30,408,379 33 (11,968) 1,072.903 31,715.317 (232,208) 3,133,392 92.426,661 12/31/04 38 (121.521) 1.060.604 31,242.048 36 (98.718) 1,064,293 31.373,953 34 (11.968) 1,110.036 32,813,385 (232.208) 3,234,933 95.429,387 6/30/05 39 (121.521) 1,093,472 32,213,999 37 (98,718) 1,098,088 32,373,323 35 (11,968) 1.148,468 33,949,885 (232,208) 3,340,029 98.537,208 12/31/05 40 (121,521) 1.127,490 33,219,968 38 (98,718) 1,133,066 33,407,671 36 (11,960) 1,188,246 35,126,163 (232,208) 3,448,002 101.753.802 6/30/06 41 (121,521) 1.162,699 34,261.146 39 (98,713) 12169,268 34,478,221 37 (11,968) 1,229,416 36.343.610 (232,208) 3,561.383 105,082,978 12/31/06 42 (121,521) 1,199,140 35,338,766 40 (98.718) 2,206,738 35,586.240 38 (11,968) 1,272,026 37,603,668 (232.208) 3,677,904 108,528.674 6/30/07 43 (121,521) 1,236.857 36,454,102 41 (98.718) 1,245.518 36,733,040 39 (21,968) 1,316.128 38,907,828 (232,208) 3,798,504 112,094,970 12/31/07 44 (121.521)

,,75,894 37.608,474 42 (98.718) 1,285,656 37,919.978 40 (11,968) 1,361,774 40,257.634 (232,208) 3.923,324 115,786,087 6/30/08 45 (121,521) 1,316,297 38.803.250 43 (98.718) 1.327,199 39,148,459 41 (21.968) 1,409,017 41,654,683 (232,208) 4.052,513 119,606,392 Page 10

Department of Water & Power Palo Verde Project Termination Cost Funding Dai rUnit 2

Unit 2 11"t Psiriod Q

u Bajlac Period Contributonn 1.358,114 40,039,843 1.4010395 41.319.717 1,446,190 42,644.386 1,92,S54 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 1.806.670 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 78,790,942 2757,333 81,416,754 2,849,586 84,144,820 2.945,069 86,968,368 44 45 46 47 48 49 so S1 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)

(98.718)

(98,718)

(98.718)

(98,718)

(98.718)

(98,718)

(98,7183)

(98,718) 1,370,196 1,414,698 1.460,757 1,508,428 1,5.57,768 1,608,835 t,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 lnJ1nM" Period Qontikbuion

g

Bolan, 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 (22,968) 44 (12968) 45 (11,968) 46 (11,968) 47 (I 1.968) 48 (11.968) 49 (11,968) 50 (11,968) 51 (2 2.968) 52 (2 1,963) 53 (11,968) 54 (11,968) 55 (1 1,968) 56 (11,968" 57 (11,968) 58 (11,968) 59 (2 1,968) 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 (12,968) 70 (11,968) 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 3.094,016 3,201.890 3,313,537 3,429,092 3,546,691 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 60.657,289 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

$5.422,690 88,400,516 91,482,566 94,672.487 97.974,056 101,391,180 104,927,903 108,588,411 112,377,035 Grand Total connum ilak (232,208)

(232,208)

(Z32,208)

(232,208)

(232.208)

(232,208)

(Z32,208)

(232,208)

(Z32,208)

(232,208)

(Z32,208)

(232,208)

(232.208)

(232,208)

(232.208)

(110,687)

(1!1968)

(11.968) 4,136,224 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 5,309,738 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 3,300,594 123,560.408 127.652,815 131,868,456 136,272,344 140,309.668 145,505,799 150,366,294 155,396,907 160.603.591 165,992,509 171,570,039

.177,342,783 183,317.573 189,501,480 195,901,825 202.526,181 209,382,390 216,478.566 22.3.823,108 231,424,709 239,292,366 247,435,391 255,863.422 264,586,434 273,614,7S2 193,068.321 199,715,025 108.588,411 112,377.035 Page 11 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 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/IS 12/31/IS 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)

(121,521)

(121.321)

(121,521)

(121.521)

(121,521)

(121.521)

(121,.521)

(121.521)

(121,521)

Unit 3 HI Unit 3

DWP PALO VERDE UNIT 1 FUNDING PLAN 100%

-'4,-COMMirTED --s-FLOOR ---

ACTUAL 904 1

1 7054 40%,

30!101998 FUNDING STATI

$AMOUNT 20%

COMMITTED 11,000 ACTUAL 24850 FLOOR 8,800 10%

=

0%4 1997 1994 1997 Manfl

'i'

&uuJ

(IUD 20Y Year 2012 2015 2011 Page 12 2021 2024 i*JW

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

(1)

(2)

(3)

(4)

(3)

(6)

(7)

(8)

(9)

Authorized Funding Plmn Funding Floor Curve Actual Funding mgudh XKn Emd E

VLE Cnitc Pex3cn I Amon x4W (1) x (4%

Fu1ded (2) X (3)

(3) X(4)

(1) X(4)

(7)/(B) 3.261 4,330 5,513 6,780 6,934 8.359 9,627 11I,000 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%!.

24%

27%

31%

34%

37%

400/,

43%

46%

49%

52%

55%

58%

61%

64%

67%

69%

72%

75%

78%

81%

83%

86%

89%

92%

946/%

97%

100%/0 1000/0 100*/*

I00W/O I00%

100%

W/6 80%/0 80%/

8W/o W/o 80%

W/o 80%

800/s 80%

806/0 80o 81%

82%

83%

84%/

85%

86%

870/%

88%/f 89%/0 90%/0 91%

92Me 93%

94%

95%

"960 97%/4 98%

99%

100%

1009/

17%

13%

16%

190/0 22%

2S%

27%

30/o 320/6 34%

37%

390/

42'!/

47%

50.!.

53%

56%/

590/0 6 2M/

65%

69We 72%

75%

78%

82%

86%

880 920/1 96%

97%

98%

99%

100%

1000/0 2,609 3,464 4,410 5,424 5,547 6.688 7,702 81800 9,989 11,275 12,665 14,166 15.785 17,530 19,653 21,971 24,500 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,*96 3,426 15,677 4,306 25,832 5,362 27,124 6,206 28,480 9,061 25,682 12,928 26,%6 16,928 28.314 21.850 29.730 2

I 2

3 1pa...

11 22%

17%

209A 22%

35%

48%

60%

73%1 199 192 1993 1994 1995 1996 1997 1"8 1"9 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 95,883 100,677 100,677 105,711 105,711 110,996 110.9%

I

DWP PALO VERDE UNIT 2 FUNDING PLAN 100%

90%

80%--E 70%

K1j

4) 60%-T 40%-

e I

30%

-$A O NPE C

T 20%

COMMITTED 11,110 36%'

ACTUAL 21,717 70%

lov%

FLOOR 8,888 29%

1997 MU9IG4TAU 20%

L

- C M IT D1,1 6

1 9 9 1 1 9 9 4 1 Q0 7 '

,n n n

....2 02.2 1 52 01.2

2.

.0 2

.... zuo 2009Y 2012 20e15 20.18 21 2024 Year Page 14

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

(

(2)

(3)

(4)

(5)

(6)

(7)

(8)

Authorized Fundmk Plan Funding Floor Curve Actual Fund*in maulb YS EMW E&L Cst Y Fundd rrtci Pecn LAnQV Eu~d EALLRA ý/LEWCdd (2) X (3)

(3) X (4)

(1) X (4)

(?)/0)

DEC 1991 3,055 15.542 20MI.

80a..

16%

2.444 3,220 15,542 21%

DFC 1992 4,104 25,418 16%

80%

13%

3.283 4,118 25,418 16%

DEC 1993 5,237 26,689 201/.

80"/.

16%

4,190 5.222 26.689 20%

DEC 1994 6,449 28,023 23%

W/60 18%

5,159 5,942 28,02.3 21%

DEC 1995 6.931 26,658 26%

80','

21%

5.54S 0,602 26,658 32%

DEC 1996 8,397 27,991 30W.

801/6 24%

6,718 12,434 27,991 44%

DEC 1997 9,699 29,390 33%

60.!.

26%

7.759 16.762 29.390 57%

1996 11110 30660 36%

60",4 29%

8688 21.717 30660 70 DEC 1999 12.637 32.403 3976 60%

31%

10.110 DEC 2000 14,290 34,023 42%

601, 34%

11,432 DEC 2001 16.076 35,724 45%

800/t 36%

12,61 DEC 2002 18.005 37,510 48%

W0%

38%

14,404 DEC 2003 20,087 39,386 51%

W/o 41%

16.069 DEC 2004 22,332 41,355 54%

60./,

43%

17,665 DEC 2005 24,317 43,423 56%

80%

45%

19.454 DEC 2006 26,901 45,594 59%

61%

48%

21.789 DEC 2007 29.682 47.874 62%

82%

51%

24.339 DEC 2006 32.674 50,268 65%

03%

54%

27.119 DEC 2009 35,.363 52,781 67%

84%

56%

29.705 DEC 2010 38.794 55,420 700/6 85%

601/9 32.975 DEC 2011 42,479 58,191 73%

86%

63%

36,532 DEC 2012 46,436 61,101 76%

871/6 66%

40,400 DEC 2013 50.041 64,156 78%

88%

690%

44,036 DEC 2014 54.564 67,363 81%

89%/,

72%

48,562 DEC 2015 59,415 70,732 84%

901/4 76%

53,473 DEC 2016 63,671 74.268 86%

91%

78%

58,122 DEC 2017 69.404 77,982 69%

92%

82%

63,851 DEC 2018 75.330 81,881 92%

93%

86%

70,057 DEC 2019 81,676 65.975 95%

94%

89%

76,775 DEC 2020 86,663 90,273 96%

95%

91%

82,329 DEC 2021 94,787 94.787 100W.

96%

90,996 DEC 2022 99.526 99.526 100%

97%

96,541 DEC 2023

.104,503 104,503 100./.

98%

102,413 DEC 2024 109,728 109.726 100./.

99%/0 99%

108.631 DEC 2025 115,214 115.214 100.h 100.h 100.1.

115,214 DEC 2026 120.975 120,975 1001..

10061.

100W 120.975 Pagp 15

Percent Funded h.& tCZa tl~

i A.I I

I

> nI 40b zC NZ~

%Z

,z I

I I

I t

I I -

-'ux I_

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T1 I

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-1 IL

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

(1 ()

)(4)

)

(6) m7 8

9 Authorized Funding Plin Funding Floor Curve Actual Funding Meni h

Xw Efl

£&km I ýý Es Est.und Cost

% ued (2) X (3)

(3) X (4)

(1) X (4)

(7)/(S)

DEC 1991 2,452 17,248 14%

80/o 1%

1,962 2,540 17.248 15%

DEC 1992 3,452 27,160 13%

80%

10%M 2.762 3,438 27,160 13%

DEC 1993 4,636 28,518 16%

800/.

13%

3,709 4,S42 28,518 16%

DEC 1994 5,905 29,944 20%

800/.

16%

4,724 5,356 29,944 18%

DEC 1995 6,923 30,100 23%

80a/

18%

5,538 8,181 30,100 27%

DEC 1996 8,217 31,605 26%

80%/

21%

6,574 12,332 31,605 39%

DEC 1997 9,956 33*185 300/

80W/

24%

7,964 16,843 33,185 52%

DEC 1998 11499 346845 33%

80-/.

26%

91.9 21,831 34,845 63%]

DEC 1999 13,171 36,587 36%

800/

29%

10,537 DEC 2000 14,982 38,416 39%

80W/O 31%

11,986 DEC 2001 16,941 40,337 42%

80W/o 34%

13,553 DEC 2002 19,059 42,354 45%

800/.

36%

15,247 DEC 2003 21,346 44.471 48%

800/*

38%

17,077 DEC 2004 23,814 46,695 51%

800/*

41%

19,052 DEC 2005 26.476 49,030 54%Y 80%

43%

21,181 DEC 2006 28.329 51.481 56%

800/

45%

23,064 DEC 2007 31,893 54,055 59%.

80/.

47%

25,514 DEC 2008 35,190 56,753 620/

hl%

500/S 28,504 DEC 2009 38,737 59,596 65%

82Me 53%

31,765 DEC 2010 41,926 62,576 67%

83%

56%

34,798 DEC 2011 45,993 65,705 700/%

84%

59%

38,634 DEC 2012 50,363 68,990 73%

85%

621/.

42,308 DEC 2013 55,054 72,439 76%

86%

65%

47,346 DEC 2014 59,325 76,061 78%V1 87%

68%/9 51.615 DEC 2015 64,690 79,864 81%

88%

71%

56,927 DEC 2016 70,440 83,857 84%

891/6 75%

62,692 DEC 2017 75,723 88,050 36%

900/0 77%

68.151 DEC 2018 82,283 92,453 89%

91%

81%

74,878 DEC 2019 89,309 97,076 92%

92%

85%

52,165 DEC 2020 96,833 101,929 95%

93%

88%

90,055 DEC 2021 104,885 107,026 93%/9 94%

92%/0 98,592 DEC 2022 112,377 112,377 1000/o 95%

95%

106,758 DEC 2023 117,996 217,996 10001/

96%

123,276 DEC 2024 123,896 123,896 100/e 97%

97%

120,179 DEC 2025 130.090 130,090 1000/

981/0 98%/0 127,489 DEC 2026 136,595 136,595 1000/h 99%

99%

135,229 DEC 2027 143,425 143,425 100/M0 120/M 1000/%

143,425 Page 17

DetedperAPS Letter 102-04823, datedAugust 1, 2002 Application Withheld ing Information be blic Disclosure I

Defted per APS Ltter 102-04823, datedaAugust 1, 2002 STATE OF ARIZONA

)

) 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 PS.

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 nding (Appendix A, Ts 1-3). The compilation of information in Appen ix A is confidenti commercial and financial information that shoul e held in co idence by the NRC and withheld from public disclosure puant to CFR § 2.790, because:

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.

Th* information, as compiled, is not availab 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 sens iye commercial and financial information about the decom *ssioning funding for PVNGS to other parties whose commercial in rests may be adverse to those of APS.

D&ted per APS 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 "I is Day of 1999.

h Notary Public My Commission Expires NORA E. MEADOR Na*u'y Pubic-Slati of Arizona MARICOPA COUNTY My Comm. Expim AMl 6. 1999

- _____j r

I

=.

l

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)

Gregg Ft. Overbeck Mail Station 7602 Palo Verde Nuclear Senior Vice President TEL (623) 393-5148 P.O. Box 52034 Generating Station Nuclear FAX (623) 393-8077 Phoenix, AZ 85072-2034 102-04550-GRO/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 50-528/529/530 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. 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.

Please Role that the information pr*. OG1d.

in

.Appendix A tenour.o*S.r-1 is23 SUPOA th Feuelthat thi

'Rnl inatie bemm'~ withel mWtn 4n u

rlvi

~pu~rsuant to 1 0 CFIR 2.790(b)(1), is provided as Fienocur 2.

~~tpritro-~3 r-

~~da tede Augs Lete 1,2 02 W23 This letter does not make any commitments to the NRC.

ug, 2 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.

Affad...it of Gegg R.. Orb*..c.. R*qcusting r102rmati,*d Be AWithheld FromPi.~licDitcoeur edperAiS~tewr1O2-04823,td~u~gust 1,20092 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 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.

Adzona 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

_I 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-1307, 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

Deleted per APS Letter 102-04823, datedAugust 1, 2002 eerFine mtA iwr nLw r

-- i#%

Palo Verde Nuclear Generating Station Unit 1 Appendix A, Tab 1

($M)

ParUirvams Total (1)

Site Specific 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 E-,tnatp 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 (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 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 PJ" a/20"1I KCM. A N.

MAPS 2001 1. 714fl ARen Years To End Of Operating (12/31/2024 24 24 24 24 24 24 24 14 IIW*

I*Il I

.C-1r

.7oV 4

De(eted per APS Letter 102-04823, dated Augwst 1, 2002 IONFIIENTI INFORMATIOF

-N

= 10 eFR 2.7.

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

($M)

Partiants Total (1)

Site Specific Fstimate 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 %

170.80 102.66 92.74 92.74 59.87 34.69 33.46 NRC (1)

Basis Radiological 132.31 79.53 71.84 71.84 46.38 26.87 25.92 TOTAL 100.00%

586.95 Total Nuclear Decommissioning IBT (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 (91 454.69 353.86 Fiscal (2)

Year 2000 Contion 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 KCFA - Appwn~l-* i. A" 2001 $0.751*e o,

Years To End Of Operating UIrrns_

(12/9/2025) 25 25 25 25 25 25 25 PJH 3120M01

De( eted per APS Letter 102-04823, datedAugust 1, 2002 f

i* IDENI*MI: IN lr-O 1ATI ri

-i eeFt 23.I 90 Palo Verde Nuclear Generating Station Unit 3

($M)

Appendix A, Tab 3 Particpants

% Ownershi 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%

16.80%

10.20 %

5.91 %

5.70 %

TOTAL 100.00 %

Total (1)

Site Specific Fstimate NRC (1)

Basic Radiological Eifimatr 183.65 110.38 99.71 99.71 64.37 37.30 35.97 631.10 141.35 84.95 76.75 76.75 49.54 28.71 27.69 Total Nuclear Decommissioning Iwat (As of 12/31/00) 60.71 (3) 41.08 (4) 17.88 (5) 166.83 (6) 18.33 (71 30.12 (8) 26.23 (9) 485.73 360.78 Fiscal (2)

Year 2000 canutudwsno 3.67 1.39 1.70 4.66 0.8 2.88 0.00 15.00 (1) - Decommissioning Cost Study for PVNGS, prepared by TLG Services, Inc. (December, 19981 (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 KCM -

APS OO.

Am

. 720

.61 R..,t Years To End Of Operating I321ena07 (3/25/2027) 26 26 26 26 26 26 26 PJH 3120001t

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)

PAIt 316420M I Appendix B, Tab 1 1510074

ARIZONA PUBLIC SERVICE COMPANY ANNUAL FUNDING STATUS REPORT FOR THE YEAR ENDING DECEMlBER 3,200 EXHIBIT E Amumplians uad by APS In Dec issioring Fundin-LTbles and Curves Deconwilselonlng Costs:

Funding Curve applied to Offidal 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:

AN contributions made quarterly W F XCIRX VCOMAA S*00 2*'U

ESTIMATED ANNUAL COSTS UNIT ONE a

6 I0 of 12 13 14 P40c.64.6 V-Irv 0wn S-. PV 1.1.4 I3sets 13761 1s 4036 54.7355430 3S.5.

616 3 is S646 3046116617) 166406) 2377366)13 6016326.s 24.302.636 7600 Flo 2)6#29416 1712110111 2)3 im40 35.61633S 31.2114.8061 6646 2633 %m0 975.3 no 3.763.362 35.43421F4 471369)11 It6F164637 4.35.6946 1,615.361, 452.333 12646.36) 3.030.33 SAY1148633) gal25.5)22 36.3% 84 W.11.5.680 3196 3am 763M am?8 zoom.

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3036 3033 3037 Page logo 3036 203 1630 3673 Poll 0307 3036 2012 "303 2030 3032 330.907 6014303164 W0.313.237 104.423.1,09 1,45.03,603 IN06311050 1335,14.6311 56.3517640 13)736.136 31.407.2112 24.30.5 13 30.534 73 2.963.64,1 30 4530123 7129.0S364 719346416 WElr.3 ErI)EO66AF5.R001613316 2.%4,1 7074 SWeal 5'.

34016 15654311 15136 14.833 6)7 31.06 313.4.501 3031 36 33.7.133 43.349 319823.11 42146 19974.330 1S5.37 3067).015 471,6 22023.106 3030 33.3)2.763

$2.7F3 4.1276633

$3.417 71.867 676 M6.603 If7612PA3 41.4061 H6. log9 64.3446 3633.364 61.3*2 30Na".164 39 123 32.3s.5300 14.21F 34.364."$

77.919 39561S643 49.161 3166116 S3 85.9112 301P476)3 60)6 41.525.214 64173 43603.111s 16033 46163.S116

.36416 446076.6301 1661711 N6414IS1 3111117 9 ".Us1.6 330167 S.5647.756 00,41 30164 708SS07) 733353925 22.516631 33.7)5so?

2431t3.m6 30 357.7493 31.44633)1 306) 113ol 30.2205336 33.794.11111 313211,133) 350s).1130 A0 Na 30 30.646535.

405.1716460 8247161763 01.730.313 4146.01,se 162137631 S3.111009211 51.3765)21 5I..76663 29.033.430 62.911.3410 "66016GO 164031Na 73.913.767 16531F45.5 40.3)3.321 25 36303Is so M7.7114 U.71.0am4 303.131i ad.106727 71863100 303816.1601 433604306 9,1115.1464 910.140903?

60.43.6413 IN 3" 3so2 31616433.0 toi3 itsa 334 330695 "361101.1179 2.361.0764 21543.33662 3S4143.11)412 36071.783N 1300221330 436637 731r 53336013 54141911238 80364Y.446 45.2461.211 2431193653 94333603S 612020.3211 41.054.22411 "3.406 30 20.853.413 24.30)1131 211.7113.1124 241.133.11111 35.30160S 24.3196 No 31.13631,1 43,40421 48.31.336 110.163) 361 63.4149,34.4 6.4113209 17.010.195 74.6,45,15S 6011137.341 163660061 300d.031.4s6 10156031.013 23029.6461 is 11711.40 3)73t 0666 77.05. Na as 664."S5 30,132306 231.933764 3333011) 35.709676S 30.61 3273 1677110474 42.1M.2111 64934.013 4T.3111.7133 S2.613,136 ly.349643) 60235.574 03.226Na U63M.603 11601.016 73.362.177 111452.410 6106411503 64.19.757

"* Na 71 631.4 14545 111.0113.)314 302 Na Na 360.03.0N 33.6)0.052 3112M.117 362664165 33163764117 23.10.153 407916.174 41.344,4111 861.26.816 1116311.0113 01.3192.712 6443.7300N 00.6153.430 M66.02931 "16.139713 63131.54.12 31.26.0110 38303.616 3369.9362?

31.211.321 3506.391.7o 2.411.5001 3.023.730 3.314.391 3.333.311 3.640.15 2.63 16MUG 4.753 Nal 4.5911.631 V.638.1111 6.476306m 64:1.1:16 69.30?.36 1T.75.7023 163.0.1311 2.793.363 2.06174101 3.232.4re 31,13.145.

3,.0).302 4.12116811 41.33.3111 4.5496.63 4.117.3111

&S5302330

.41.01626 I.433.372

.30.6.31 0.41011151 6.633.619 36.470.363 113.461.1106 12.0166141 33.306269 32674g.3 15F.601.30 4.2016193 4.4311 77 4.60". 33 4.670.046 6,131.,11 5.919.571 65.21126 7.3216.276 76.1.5271 7.932.161 6.2)19.003 6 746.162 9.642.3516 30.3741.41r 90.631.76 33.362236 32.30.3602 14.266.462 3123$6.36 23.3".46a KIWI916 5.647 Na 6.1147.7711 6.3131.630 648113311 FA7.033 37 7.2.67662 a61:1.304 0.632.434 616042.323 11.01f.416 13.393.730 34,693.331 31 74.039 3 7.110311.6)1 31.686.218 35713.3166 77.664.431 7525.7 in1 76.5347)12

'602.9" 6313462 64,16135 671.336 1123.23 3 741.843 63416723 814.4956 3162. 61 3.3640356 3.276.061 3.313.636 0.430.1311 1.632744 7 3.716.111 706241,62 2.411.M1 213) 441 27197.039 73633643 305117111 3 303 Naw 3 30614It 3.013.0311 4a 606I 4.7323003 5.2370833 503030.6 6.341.311 611113233 1 0.3m31 6063330 9.3811047 9.63F.491 lo329.3636 3364)313 1301)42 35.3 3166gold)24 14142315)

S

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

100%

80%

c 60%

-R 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

F _Year Funded Curve Funded Floor 9 Actuall FIRMA*E W FX UCfI(COImwArSI4EtwWWT E 2MM.4J

211 8

'1 I S I

I I I I

1 11 II3 i ~

I f I

S

~~~~~~~~

2 Z

-I

-r I

I-2 Z 3!

I S £

A El.-

2 K 2 312!Ira 5 i Iss~I I I 1

"M

~~~~

...S U

.SU~.*.p a

a-I I

if us a v 3 a

Q Q CA

-4 m

0 I

i C

z 3

I I

n 2

a W a v a a

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

100%

80%

S, 60%

U 40%

20%

0%

S Amou Pmen Actual 63.153 33.54%

Committed 61.,125 32.46%

Floor 48.900 25.97%

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

9 1

5 7

9 1

3 5

7 9

1 3

5 7

9 1

3 5

7 9

1 3

5 7

Year Funded Funded Floor e Actualj F IL MA-w ENCEL.RCOUMAFSRona uwrl I

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%

>lnflation/Escalation Assumption:

5.92%

>1998 Cost Study. Including 25% Contingency Pill 3W6100 1510074

NUCLEAR DECOMMIS~iONING TRUST AJ Particpants Decom Costs in 19985 M

565&640 SRP Starae n 1998S S97.356 Plan Bolance as of 12/31/98 i 19985 S34.354 FV of Total Decorn. Charges Discounted to 2024

$434,302 FV of 12/31/98 Plan Bakne 0 24 years S136 FV of Balance Owed to be Funcliep by Contributions and Earnings S

Caledoer Years Since Yea End 1967 1968 1989 1990 1991 1092 1993 1994 0

1 2

3 4

5 6

7 8

9 10 11 12 13 j4 15 16 17 18 19 20 21 22 23 24 25 26 27 21 29 30 31 32 33 34 35 36 37 1996 1997 i Q98 1999 20O0 2001 2002 2003 20M4 2OS 2006 2007 2008 2OD9 2010 2011 2012 2013 2014 2015 2016 2018 2019 2020 2021 2022 2023 2024 2025 2M7 2026 20M9 2030 2031 2032 2033 2034 2035 SRP Si*are 17 49%

Projected return on investrnrenrs 7 65%

Projected tnflcnor, 5.92%

Years To Start of Decom (Funding Yrs 'eft) 24 Current 8oiance Arvuai Before Decorn Termination payment Earnings Decom Charges Endrng Costs 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 Z 142 2Z269 2403 2546 2696 2.866 36025 3.204 3.394 3.595 3.807 4033 4.271 4524 4792 5.076 5&376 5695 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 26 31 135 499 280 462 313 69 3.317

2. 752 4,881 5.318 4,915 (1,019) 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 12568 13.789 15,119 16.567 18.143 19,857 21.723 23.751 25956 29.567 26.740 22603 18.058 12923 7.010 4.090 3,5U5 2.866 L=5 747 1.738 2678 4.018 6.044 7,617 9,772 12.201 17.292 21,336 27.586 34.354 40.536 40.740 45.374 50.451 56.013 62.100 6&8.

761 76.043 846003 92.698 102.192 112.556 123.862 136194 149.637 164.288 18a250 197,634 2166560 237,160 259K574 283=956 310.471 339,298 37a630 40"678 AX538 414064 376.288 318&062 254U106 181.851 986640 57,557 50,018 40.317 21 Al9 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 82014 85.178 90.221 45.173 11,093 12567 25048 22.74L C

[ T U

A L

747 1,738 2.678 43.630 4.018 44.983 6044 47.646 7.617 79,718 9.772 U4.438 2.201 89.436 17.292 94.731 21.336 100,339 27.586 106.279 34.,354 97.356 40.536 103.120 40,740 109.225 45.374 115.691 50,451 12.540 56.013 129,794 62.100 137,478 68.761 145.616 76,043 154.237 U4.003 163.368 92698 173.039 102.192 183.283 112.556 194.133 123,862 205.626 136.194 217.799 149.637 230.693 164.288 244.350 180.250 258,815 197.634 274.137 216.560 290.366 237.160 307,556 259.574 325.763 203.956 345.048 310.471 365,475 339.296 387.111 370.630 410.028 "404587 434,211 384497 410.876 349.548 368.683 295,459 309,680 236.048 245.999 168.928 175.3U4 91,630 95.546 53.467 56,030 46,464 48.254 37.451 38.543 20.269 20.777 0M0 6.14%

8.93%

12.68%

956%

11.57%

13.64%

18.25%

21.26%

25.96%

35.29%

39.31%

3730%

39.22%

41.17%

43.16%

45.17%

47.22%

49.30%

51 42%

53.57%

55.76%

5798%

60.24%

62.53%

64.86%

67.23%

69.64%

72.09%

74.58%

77.11%

79.68%

82.29%

84.95%

87.65%

90.39%

93.18%

94.07%

94.81%

9541%

95,95%

96 32%

95.90%

95.43%

96.29%

9717%

9755%

100 00%

F 0

R E

C A

S T

FUNDING FLOOR ANALYSIS FOR UNIT 1 ($000's)

ESTIMATED FUNDING FUNDING FLOOR CUM Endng Fund Milimun Minimum MhmuM Floor ym"nc

~

ExC~

iEj o

%Fnd 2nrcnt~o SAMI Per C g

SMAW~

1991 6.071 47.646 12.74%

80.00%

10.19%

4.857 12.68%

6.044 1992 7.617 79.718 9.56%

80.00%

7.64%

6.090 9.56%

7,617 1993 9,772 84438 11.57%

80.00%

9.26%

7.822 11.58%

9.772 1994 12.201 89.436 13.64%

80.00%

10.91%

9.761 13.64%

Z201 1995 14,909 94.731 15.74%

80.00%

1259%

11.927 18.25%

17.292 3996 21.336 100.339 21.26%

80.00%

14.30%

14.344 21.26%

21.336 1997 27.586 106.279 25.96%

80.00%

16.03%

17.034 25.96%

27,586 1996 34.354 97.356 35.29%

80.00%

17.79%

17.318 35.29%

34.354 1999 40.536 103.120 39.31%

80.00%

19.58%

20.188 39.31%

40.,536 YES 2000 40.740 109.225 3730%

80.00%

21.40%

23,370 37.30%

40.740 YES 2001 45.374 H15.691 3922%

80.00%

23.24%

26.891 39.22%

45.374 50.451 122,540 56.013 I29,794 62.100 137,478 68.761 145,616 76.043 154.237 84.003 163.368 92.696 173,039 1O2.192 183.283 112556 194,133 123.862 205.626 136.194 217,799 149.637 230.693 164.28 244350 180.250 258.815 197,634 274.137 216.560 290.366 237.160 307.,556 259,574 325.763 283,956 345.048 310.471 36.5.475 339.296 387.111 370.630 410.028 404.587 434.211 386497 410.876 349,548 368.683 295.459 309.680 236,048 245.999 168.928 175.384 91.630 95.546 53467 56,030 46464 48.254 37.451 38.543 20269 2(.777 0.00 0.00 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%

6964%

72.09%

7i.58%

77.11%

79.68%

82.29%

84.95%

87.65%

90.60%

93.95%

95.20%

9593%

96.67%

97.35%

97.86%

96.39%

10.000%

100.00%

80.00%

8000%

80.00%

81.00%

82.00%

83.00%

84.00%

9,5.00%,

86.00%

87.00%

88.00%

89D0%

90-00%

91.00%

92.00%

93.00%

94.00%

95.00%

96.00%

97.00%

98.00%

99.00%

100.00%

100.O0%

100.00D%

100.O0%

100 O%

100.00%

10000D%

100 00%

)0000%

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%

9&.38%

10200%

300.00%

100.00%

30,785 35.0865 39,830 45,623 52089 59.298 67.326 76.258 84186 97.209 109.439 122.997 138.014 154.635 173.019 193.339 215.784 240.561 267.895 298,035 331.250 367.743 407.864 391.039 3631604 299.270 239.430 171.613 93,996 48.254 38&543 M0777 0.C0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2C22 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035

SAC 91.A. R NP RTRUC T

NUCI.EA DECOMM=SIONING TRUST AJ Particpants Decom Costs 1998S S586.008.5 SRP S 1'xin1998 S3102.492.9 Amn Balance as of 12131198 in 1998S S32.398.0 FV of Total Decom. Charges Discounted to 2025 S4W4.282.7 F'V of 12/31/98 Pkan Balance in 25 yeam IS13A4LI F'V of Balance Owed to be Funded by Contributions and Earnings SIP S'hae 17 49%

Projected return on investirenr, 7 65%

Proiected Lnfla1on 5.92%

Years To Start of Decorn (Funding Yrs Left) 25 Current Calender Years Since Year End Balance Arnual Before Decorn Tern'nxnton Payment Eoarig Decorn Charges Endcng Costs Funded 0OnflaAd.

0DflolAd Cn Cb

&2 Rafonc

_f~

Aj a

A C

T U

A L

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 2032 2033 2034 2035 F

0 R

E C

A S

T 960 841 1,909 1.292 1.761 2241 1.714 1.379 1.460 1.546 1.452 1,430 1.717 1.819 1.927 2041 2Z161 2289 2425 2568 2720 Z2582 3.052 3.233 3,424 3,627 3.842 4.069 4.310 4.565 4.835 5.122

&425 5.746 6.086 6.446 6.28 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.002 0.00 74 343 218 394 281 63 3,042 2537 4.545 4.991 4.635 (966)

Z980 3.339 3.733 4.166 1.641 5.162 5.732 6.356 7.038 7.785 8601 9.492 10.466 11,528 12.688 13.952 15.331 16.834 18.471 2OL253 22195 24.306 26.607 29.108 31.827 33.442 30.056 26.575 22492 17.792 IZ354 6.999 4103 3,210 960 1.839 3*023

&.150 6839 8.881 11.185 15.940 19.856 25.8W0 32398 38,485 38.949 43.646 4&804 54.464 60a671 67.473 74,924 83.081 101.764 112,431 124,084 136809 150.699 165.8 5 182.384 200,405 220.046 241.445 264.751 290.126 317.745 347,799 380=492 416.046 45, 701 470,598 422950 373.958 316.500 250.373 173.838 98.484 57.734 45.178

4a4 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 79.950 8$920 88.888 8Z.353 44853 15.766 23A437 23"d~

613 A 0

1 2

3 4

S 6

7 8

9 10 11 12 131 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 960 1.839 43.256 3.023 44,597 5&150 47.237 6.839 78.467 8,581 83,112 11,185 88.032 15.940 93.244 19,856 98.764 25.860 104,611 32398 102.493 38,485 101560 38.949 114987 43.646 121.794 4A.804 129.005 54.464 13&642 60.671 144,731 67,473 153.299 74924 162374 83.081 171,987 92.005 182,169 101.764 192.953 112431 204.376 124084 216.475 136,809 229,290 150.699 242864 165.8,5 257,242 182384 272470 200M405 288.601 220,046 305.686 241.445 323.782 264.751 342950 290.126 363.253 317.745 38M 758 347,799 407.5M5 38a.492 431.661 416.046 457.216 437,155 466.737 392,894 416,661 "347.383 366.763 294008 307,467 232580 241.749 161,48 167.173 91.485 94,716 536631 55,470 41,967 42.988 21,741 2Z.096 a=

.0 0.00 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%

5z 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%

10000%

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

ESTIMATED FUNDING FUDOING FLOOR CUM ii 0--m Ering Funrld Iirmru Minimum MNmrm Floor 1991 5.163 47,646 10.93%

80.00%

8.74%

4,166 10.81%

5.150

!Z 1992

.836 7M467 8.71%

80.00%

6.97%

5&469 8.72%

6.839 1993 8.887 83.112 10.69%

8000s

&55%

7.109 10.69%

8.881 199d 11.185 88032 1271%

80.00%

10.16%

&94.8 12.71%

11.185 1995 13.755 93.244 14.75%

80.00%

11.80m 11.004 17.10%

15.940 1996 19.856 4M 76d 20101 80.C0%

13.46%

11298 20.10%

19,856

-Z 1997 25.840 104,611 24.72%

80.00%

15.15%

15.&3 24.72%

2.860 1998 32.39" I493 31.61%

a0%00 M16.87%

17,294 31.61%

32398 eE' 1999 38,485 108,560 35.45%

80.00%

18.62%

20,213 35.45%

38.485 2000 38.949 114,987 33.87%

80.00%

20.39%

23.,5 33.87%

38,949 YES M

A n ML 2

0

7 =

3,5.84%

43.646 v;-

4,3.6d6 48.804 54.464 6OL671 67,473 74.924 8a081 92.006 101.764 112.431 124.084 136.809 150.699 165.8&55 182384 200.405 220.046 241.445 264.751 290.126 317,745 3.47.799 380.4n2 416.046 437.155 392.894 347.383 294.008 232510 161.4,85 91,4.85 53.631 41.967 21,741 (000) 129.006 136.642 144.731 153.299 162374 171.987 182169 192 953 204,376 216.475 229.290 242.864 257.242 272.470 288.601 305,6866 323.782

ý42950 363.253 384.758 407.535 431,661 457.216 466,737 416.664 365,763 307,467 241.749 167.173 9K 716 5&A470 42.988 2096 0.00 37.83%

39.86%

41.92%

44.01%

46.14%

48.31%

50.51%

52. 74%

55.01%

57.32%

5967%

62.06%

64.47%

66.94%

69.44%

71.98%

74.57%

77.20%

79.87%

8258%

85.34%

88.15%

91.09%

93.66%

94.30%

95.26%

9402%

96.75%

97.45%

100.00%

10000%

100.00%

80.00%

81.00%

82.00%

83.00%

84.00%

85.00%

86.00%

87.00%

8800%

89.00%

90.00%

91.00%

92.00%

93.00%

94.00%

95.00%

96.00%

97.00%

98.00%

9900%

100.00%

100,00%

100.00%

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%

8507%

90.16%

92.55%

94.02%

95.24%

96.00%

96.72%

97.40%

97.56%

96.40%

100.00%

I00.00%

100.00%

31.001 35.382 40.217 45.548 52063 59,330 67.427 7&439 866460 97,591 109,945 123,645 138.825 15&632 174.227 194,786 217,502 242585 270.264 3MO.792 334442 371.515 412209 431,970 391,744 348&356 295,167 233.830 162.832 92.656 54,580 42988 22.096 0.00 2001 2002 2003 2004 2006 2006 2007 2010 2009 20310 2011 2012 2013 2014 2015 2016 2017 2018 2019 2C20 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035

SALT R" *tR PROJECT NUCLLAR DECOMMISMoNING TRWT AP P*'tvtS DOecoM CoVS in 1998S S632.975.6 SRPShroein 1995$ 110.707.4 Pkn Balance as of 12!31 M in 1998 S34.380.0

V of Total Deccm. Cha'ges Discounted to 2C27 S,86.8A47 FV of 12/31/98 Plan Balance in 27 years SIA2.AA I:V of Bao::nce Owed to be r-uxncfc by Contributions arid Earrnings S2441 SRP Share 17 49%

Prop.cte* return on investmrens 7,65%

Protected "ChOfn 5 92%

Yeas To Start of Decom (F:unaing Yrs LeOt) 27 Current Baace CaOWndW Annual Beom Decom Toenrcionat Yeos Since Yea' En Payment Earninrgs Decom Chomges E

Co Fnded SWO 3 z Lflt Al A9A~

DCeco Canges A

Endngc Cotsnl Ail R

1988 1989 1990 1991 1993 1994 960 0.00 806 74 841 343 2154 218 1.590 413 1.787 304 2,290 67 1,721 3.221 960 1.839 3.023 5 395 7.401 9.493 11.849 16.791 A

C T

U A

L vi

=.05 0.05 0.C0 0.00 0.00 0.00 0.05 0.00 0.00 0.00 0.00 0.00 0.00 0.05 0.00 0.00 0.OO 0.05 0.05 0.00 0.00 O.00 O.05 0.00 0.05 0.05 0.00 0.00 0.00 0.00 0.OO O.05 63.912 80.312 83.203 88.046 81.421 86.474 91.856 64.216 44039 7,364 1996 1.517 2.672 20.980 1997 1.606 4802 27.388 1.702 5.289 34.380 1999 1.416 4.918 4D.714 2000 1.391 (1.022) 41,083 2001 1.675 3.143 45.901 2002 1.774 3,511 51.187 2003 1.879 3,916 56.9"2 2004 1,991 4359 63.331 21*5 2.108 4845 70.284 2006 2233 5U377 77.894 2007 2365 5.969 86.219 2

2,505 6596 95.320 2009 2654 7.292 105,265 2010 Z811

&053 116.129 2011 2977 8.884 127.990 2012 1.153 9.791 140.935 2013 3.340 10.782 155.056 2014

,5,38 11.862 170.456 2015

.,747 13.040 187,243 2016 3.969 14324 205.537 2017 4204 15W724 225.464 2018 4453 17.248 247,166 2019 4L717 18.908 270.790 2020 4996 20.715 296.502 2021 5.292 22.62 324.476 2022 5&606 24822 354.903 2023

&.937 27.150 387.990 2024 6288 29.AI A23.959 2M

&6w 32.A33 463.052 S7.056 35.424 505.531 S7,472 38673 561,676 28 9 0.0 37.314 525.078 2029 0.05 34025 478. 791 2030 0.05 30.263 425.851 2031 0.00 25,842 363.647 2032 0.00 21.590 303.817 2033 0.05 16.627 233.969 2034 0.0 10.872 152.9.5 2035 0.00 6,791 95.560 2036 0.05 3.941 55,462 2037 a0m5 51 U2 125+/-Z2 179 6A 261 960 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 96.317 20,960 104.138 27.388 110.303 34380 1Il,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&265 208.418 116.129 220.756 127.910 233.825 140.935 247,667 155.056 262.329 170.456 2f7.859 187.243 294.308 205.537 311.731 225.464 330.186 247.166 349.733 270.790 370,437 29%502 392-367 324.476 415.595 354903 440.196 387.990 466.258 423.959 493.86W 463,052 523.097 505M531 554.064 487.764 522.953 "444.766 473,600 395.589 418,434 337,80M 355.160 282226 294.764 217.342 225.740 142.114 147.248 88.769 91.749 51.52.67 53.142 48.098.35 48.924 7Q&W F

0 C

A S

0 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 25 29 30 31 32 33 34 35 36 37 38 39 400%

6.37%

10.74%

8 95%

10.83%

12.77%

1708%

20.15%

24.83%

31.05%

34.72%

33.08%

34,89%

36.73%

38.61%

40.51%

42.45%

44.41%

46.41%

4844%

50.51%

5261%

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%

8585%

88.52%

91.24%

93.27%

93-91%

94.54%

95.11%

95.75%

96.28%

9651%

96.75%

96.95%

98.31%

100,00%

FUNDING FLOOR ANALYSIS FOR UNIT 3 ($000's) i ETIIMA~TED FUNDItNG rvPA~rlupr Pt.%^Jx I-WmV Minimum Minman MiflnrJ-n acm+/-

SAMI 80.00%

8.74%

4.166 80.00%

7.15%

5,918 81100%

.67%

7.59 80.00%

10.21%

9.479 80.00%

11.78%

11.581 80.00%

13.37%

13.926 80.00%

14.99%

16.535 80.00%

1664%

I&417 80.00%

1M31%

21.468 80.00%

20.01%

24.&50 80.M0%

21.73%

28.593 80.00%

23.49%

32Z732 80.00%

25.27%

37,303 80.00%

27.09%

42.346 80.00%

28.93%

47.904 80.00%

30.80%

5024 80.00%

32.71%

60.759 81.00%

35.07%

69,014 82.00%

37.52%

78,202 83.00%

40.05%

8&419 84.00%

42.67%

99,768 85.00%

45.37%

112.363 8600%

48.16%

126.331 87.00%

51.04%

141.808 88.00%

54.01%

15&945 89.00%

57.07%

177,904 90.00%

60.23%

198.868 91.00%

63.49%

222.030 92.00%

66.84%

247,608 93.00%

70.30%

275.834 94.00%

73.86%

306.967 95.00%

77.53%

341,285 96.00%

81.31%

379.096 97.00%

85.18%

420.651 96.00%

8746%

457.499 99.00%

89.80%

497,523 100.00%

9214%

481,859 100.00%

93.60%

443.301 100.00%

94.87%

396,978 100.00%

95.73%

339.992 100.00%

96.46%

284,343 100.00%

97.18%

219.366 100.00%

97.79%

143.994 100.00%

96.40%

9a 282 100.00%

100.00%

53,142 100.00%

100.00%

4,924 100.00%

100.00%

0.00 Foor 2mfeeQto SAW!

Soisi 11.32%

5.395 8.95%

7.401 1083%

9.493 12.77%

11.849 17.08%

16,791 20.15%

20,980 24.83%

27.388 31.05%

34380 34.72%

40.714 33.08%

41,083 YES 34.89%

45.901 Encing Fund Yarn 1991 1992 1993 1994 1995 1996 1997 1996 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 202?

2Ct722 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 5.408 7.398 9,498 14.477 20.980 27.388 34.380 Aa714 41.083 45.901 51.187 56.952 63.331 70.284 77.894 86,219 95.320 105.266 116.129 127.990 140,935 155056 I 7Q456 187,243 205.537 225.464 247.165 270.790 296,502 324.476 354.903 387.990 423,959 463.052 505.531 487.764 44A 766 337.805 282,226 217,342 142a114 88.769 51.521 48.098 0.00 47.646 82736 87.634 92.822 96.317 104,138 110,303 110.707 117.261 124.203 131.556 139,344 147.593 156,331 165.586 175.388 185.771 196,769 208,418 220.756 233.825 247.667 262.329 277.859 294308 311.731 330.186 349,733 370.437 392367 415.595 A40. 190 46&256 493,8*0 523.097 554,w4 5n953 471600 4&,1434 355160 29A 764 225.740 147.248 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%

3308%

34.89%

36.73%

38,61%

4051%

4245%

44.41%

46.41%

48.44%

0.51%

52.61%

54.74A%

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%

100C00%

Dim*

Qi*

D.........

SALT IVER PIOJECy NUCLEAR DECOMMISSIONING MW (000'.

Aggregate Decom Cort in 1996S 51.775.625 SRP Rxa in 198S S310.557 Encdng Balance as of 12/31/9 in 1998S S101,132 FV of Tota Decom. Charges Discounted to Start of Decom S1.5054d9 PF of 12/31/95 Funsd Balance value at Start of Decom S415;494 FV of Ba*ance Owed to be Funrded by Contrrbutons and Earnings S16955 L

ALL UNITS I

Current Sdance Year(s) Clender Annual efore Decomn Temrtirllon Since Year End Poyww Earmeg Oscom Charges Enxkv cogs Shidy 314!i an0ntLAcj MOifnt& 6 cJ 0DInAt &a Balnc Q=6 0.03 0.00 0.00 0.03 0.03 0.03 0.03 0.00 A

C I

U A

L.

1967 1988 1989 1990 1991 1992 1993 1994 1995 721 2.880 2415 2.523 5.809 3.969 5.390 66890 5.210 4188 4435 4698 4,135 4044 4909 5.200 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 13.051 13.824 14.642 15.509 16.427 17,399 18,429 13.488 7.055 7.V72 0.03 0.03 0 m 0.00 0.03 0.03 0.03 0.03 0.03 SRP Share 17 49 Projected return.on investments 7 65%

Proecrea Inflaion 5 92%

Years To Stwr of Decomn (;:uraing Y'S Lett Unit I Unit 2 Unit 3 24 25 27=

0.00 aO.O O.03 0.03 0.O0 0.03 0.03 0.OO n0.0 0.03 CODO 0.00 0.0 0.03 0.00 0.OD 0.OD 0.00 0.03 O.O0 0.00 0.03 0.00 0.00 0.C0 O.OO O.03 0.03 91 66.586 144.220 220.308 242.275 252.300 267,154 208,947 142.420 120.189 107.701 89.450 7,364 IJ9 17 F

0 E

C A

S t

26 31 283 1.185 716 1.269 899 196 9.579 1996 1997 0

1998 1

1999 2

2O00 3

2001 4

2002 5

2003 6

2OO4 7

2005 8

2006 9

2007 10 200 11 2009 12 2010 13 2011 14 2012 15 2013 16 2014 17 2015 18 2016 19 2017 20 2018 21 2019 22 2020 23 2021 24 2022 25 2023 26 2024 27 2025 26 2026 29 2027 30 2W 31 2029 32 2030 33 2031 34 2D32 35 2033 36 2O34 37 2035 38 2036 39 2037 747 3.658 6.356 I1n064 16.589 21.857 28.147 35.234 5L0204 747 3668 6.356 132884 10.064 137,004 16.589 145.115 21.857 240,921 28.147 255,184 356234 270.291 50.24 284292 62.172 303.241 80.834 321,193 101.132 310.557 119,735 328.942 120,772 348.415 134920 369.041 150,442 390.888 167W45S 414029 184102 438.540 206&518 464.501 228.862 492.CX0 253.3M 521,126 280,023 551.977 309.222 584654 341.115 619.265 375,936 655.926 413.937 694756 455.393 735.886 5M.599 779.450 549.878 825.594 6M.576 874,469 662.071 926.238 725.770 981.071 795.115 1.M9.150 870.584 1,100.668 962.692 1.165.828 1,04I.OO 1.234846 1,139.112 1.307.947 1,244592 1.385.287 1.286.706 1,400.709 1.247,972 1,339.411

1. 130.607 1,198.396 974.823 1.027.066 797.096 835.56M 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 7.961 14.228 15&598 14.468 (3.007) 9.239 10.321 11,509 12.811 14M237 15.799 17.508 19.378 21.422 23.655 26.095 28,759 31.666 34838 38.296 4A066 46.174 50.648 5&521 6a0.826 66.600 72,881 79,713 87.142 9&.211 96.433 95,470 86.491 74.574 600,978 45.206

32. 679 24,284 16.947 10.006 3,941 1.6M Fundled 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 5,5.08%

57-31%

5958%

61 88%

64.22%

66.60%

69.02%

71.48%

73.98%

76.52%

79.10%

81.72%

84.38%

87.09%

89.&4%

91.86%

93.17%

94.34%

94.91%

95.40%

9564%

95.89%

96.35%

96.83%

97 14%

96.95%

9631%

100.00 62.172 8,834 101.132 119.735 120.772 134.920 150.442 167.458 186.102 206.518 228.862 253.312 28a03 309.222 341,115 375.936 413.937 455.393 5.S99 549,878 603.576 662.071 725.770 795.115 870,584 952.692 1.139,112 1.244683 1.353.292 1,392.193 1,350,915 1.217.098 1,049,397 658.074 636.125 459,857 341,721 238.479 140.783 55.462 51 779

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

ESTIMATED FUNDING FUNDING FLOOR CUIVA Ernding Furd Minimum Pir-umun Minim=

hoor YAM So~le-me FsL? C IL E Ftn 2arronto S AMI 2mfran SAW c

1991 16.642 14.5,115 11.47%

80.00%

9.17%

13.314 11.43%

16.589 1992 21.851 24Q1921 9.07%

80.00%

725%

17.478 907%

21.857 1993 28.157 256,184 11.03%

80M0OD

&83%

22.530 11,03%

28.147 1994 35.235 270.291 13.04%

8000%

10.43%

28.188 13.04%

35.234 1995 43.140 286.292 15.07%

80.00%

12.05%

34,512 17.47%

50.024

.2:

1996 62.172 303.241 20.50%

80.00%

13.71%

41.567 20.50%

62.172 1997 80.834 321.193 25.17%

80.00%

15.39%

49.423 25.17%

80.834 1998 101.132 310.557 32.56%

80.00%

17.08%

53,029 32.56%

101,132 1999 119.735 328.942 36.40%

80.00%

18.81%

61.869 3640%

119,735 2000 120.772 348,415 34.66%

80.00%

20.57%

71.670 34.6"%

120.772 YES 2001 134.920 369.041 36.56%

80.00%

2236%

82520 36.56%

134,920 150,442 390.888 38.49%

167.458 414.029 40.45%

186.102 438.540 42-44%

206.518 464.501 44.46%

228.862 49Aqz2 46.52%

253.302 521.126 48.61%

280.023 551.977 50.73%

309.222 584,654 52.89%

341.115 619.265 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 6902%

662071 926.238 71,48%

725.770 981.071 73.98%

795.115 1.039.150 76.52%

870.584 1.100.66 79.10%

952692 1.165.828 81.72%

I.d42000 1,234845 84.40%

1,139.112 1.307,947 87.59%

1.24.4.592 1.385,287 90.81%

1.256.705 1.400.709 92.11%

1.247.972 1.339.411 93.17%

1.130.607 1.19&.396 9.346%

974.823 1.027,066 95.23%

797.096 835568 96-05%

5M9M.2 617.879 96.62 427.178 445510 97.23%

317,437 329.464 97.82%

221.5=2 228.780 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%

80.00%

8000%

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%

)00.00%

100.00%

100.o0%

I00.00%

100.00%

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%

65.62%

6909%

72.68%

76.37%

80.17%

84.07%

88.08%

90.24%

92.24%

94.25%

95.21%

96.03%

96.59%

97.21%

97.80%

98.58%

98.91%

10000%

100.00%

.94.518 107.770 122392 138.511 156.263 175,796 199.738 226,388 256.023 288.946 325.490 366.017 410Q927 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 1.129.484 977.898 802420 596. 823 433.060 322200 225.525 133,155 53.142 4& 924 000 2002 2003 2004 2005 2006 2M07 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

10 0'1/ -

Fun dng Percentages 90?..............

. ALI, UNITS COM BINEDI -------------------------------------------

1998 Decommissioning SOY.

C ost Study--

/

'p,p

.p

f..I 'p

.p'""

wo - 401. -- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -.

30L i*

o kwx ft Fk I

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%

P AJI 3

V612001

, 570O74

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 3!, 2000

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

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%

21 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 ror Unit 2 (in Thousands) - continued:

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%

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:

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%

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%

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

3.2.2 Unit 2 Curve:

100%

90%

80%

70%

60%

50%

40%

30%

20%

10%

0%

EL PASO ELECTRIC COMPANY Annual Funding Status Report For the Year Ended December 31, 2000 1T 1991 1994 1997 2000 2003 2006 2009 2012 2015 2018 2021 2024 2027 2030 29

Palo Verde Nuclear Generating Station Units 1, 2, & 3 SCE 2000 Annual Funding Status Report Appendix B, Tab 4 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)

PJH 36*200t 1570074

CT) a)

(3)

FUNDW. PLA XM FLNQS ES Cj LD 1991 25.499 "4.219 "8%

1992 32.4132 69.160 46%

1993 3IL797 74.906 52%

1994 45.527 SI.314 57%

1996 54.963 W6114 64%

I996 64.895 91333 70%

1997 75.346 WOOD 76%

9Me 86.350 If ISO 81%

1999 97.9m0 1138615 04%

2000-110 Ila 122.034 W0%

2CII 122.9A5 130.647 9^%

2002 136.446 140.296 97%

200 150.686 130.427 100%

2W4 166.611 161.290 103%

20M 181.352 172.937 105%

2006 197.919 1115.426 lam%

207 215S.

19&8.16 106%

2WS 233.709 213.174 110%

209 253.025 2Z38.58 111%

2010 27l3.M 245.074 112%

201 1 294.752 261772 112%

2012 317.V73 281.747 113%

2013 340.976 3MOO04 113%

2014 365.M2 323909 113%

2015 3921160 347.300 113%

2016 419,861 372.360 113%

2017 A48.903 399.271 112%

2018 479.516 428.101 112%

2019 311.737 459.019 111%

MD 545.66 491.167 111%

2021 381,193 52.709 110%

2=

61&9600 W1117 109 203 658.44S 60677 19 204 700.063 6%8047 1lam 2025 696.219 686.664 106%

2026 5M4.779 5ft~a 105%

21327 4"7,9186 4W.,1U 104%

2026 34430

= 33 m 103%

2029 191070 167.360 103%

203 69.900 6&.613 103%

2031 0

0 100%

2D32 2033 2334 2035 SOFTHO CALIFOOAA E~COW.n 2000 PALO VEE UIMT I R.#Ct4 SIAV CS TAOA#MI) 0 CS)

M6 7

6 (9)

PJHDNQ FLOOR CURI*

ACIIUAL RI4584 QU Pf e LM tN 9

ETC3 10%

46%

2M.39 27.001 A4.219 61%

10 37%

25.922 33.747 69.660 48%

00%

41%

31.W41 41.611 74.9m6 U%

10%

49%

36.42 45930 80.314 57%

60%

Ws 3X351 "4177 71.191 909L Will 56 42.746 79.,73 76.331 14 10%

61%

49.760 99.810 61.6a2 122%

80%

65%

56.862 122.110 V.751 139%

00%

69%

64.987 136.263 94.458 14Aft 80%

72%

72.92 141.277 101.270 139%

W% 75%

60%

78%

0011 1011 80%

62%

Ilis am as%

W%

W3%

90%

801%

92%

an%

M4 6^%

9S 67%

90%

4.0%

99%

09%

100%

90%

103%

91%

103%

92%

1011%

93%

)on%

94%

106%

95%

106%

"S0 106%

97%

107%

96%

107%

99%

107%

100%

1081 100%

106%

100%

105%

100%

104%

TOD%

103%

100%

1O3%

100%

102%

Im0 100%

gil 5"

S~

~

~~~ý S 5

31i 0=

ME 20 as x

pit XE~

ii1 S

r 3

I 0

i0iijim)"I

'0I0 9

S I

0

ii' 9

IS 3

5o~miEN CALJORKA EDISO CObUVAk

_N0 AP KINDIG pKht4-AL LtEU (S TPOL5ANDS) mI (12 FUDNGPAN 1991 76.062 136,11 us 1992 961,049 221047 46%

-1993 118,451 224.715 53%

1994 139.923 240.L42 56%

2996 169.179 2SL342 65%

1996 199.972 276.996 72%

1997 222311 297.001 71M 2996 266.493 316.6119 M4 2999 301396 342645 m9 2=

W. 182 366.102 93%

2002 379.953 32.540 97%

200 421.811 4=867 ion 2=0 46.6467 451.261 200%

2M4 5112.236 463.67 106%

2W5 561-039 51&162 i06%

2W06 621405 666.27 210%

2W?

666.467 596.4*9 112%

200 723,366 6.39.521 113%

2W9 76M256 611.704 214%

2010 8M6.286 735.221 125%

2021 9121629 73S.315 116%

2012 982.45 645.242 126%

2013 1.0655943 906.201 227%

2014 1.233290 971.7V7 117%

2015 121.22699 2.041.900 117%

2016 1.300L382 1.117.140 116%

2017 1.39M.5" 1.197.813 116%

2016 1.4U6478 1.28&312 116%

2019 I.5a5376 2.377.051 229%

202 I.6M521 1.476,501 114%

2=21 1.601.266 2.361126 114%

2M2 1.917.666 1.697.480 113%

2=2 ZOIQ0246 1.8=0300 112%

212 Z 109.270 1.961.462 221%

2025 1257,424 2.062po7 1IM 2026 1244L391 z063070 109%

20 27 167,156 201I597 I0o%

2026 1.%62316 2.63717 107%

2M9 1.664.149 l.572415 106%

2=_

1.2811103 1.217.033 206%

203 666m 046.&M ion%

2032 5".&0 5726911 Ion 2D3 312.61 3=055 20%

2=4 150.456 147.093 1W%

25 0

(M OIL W

0)

(6)

(7) 00 (9

PRNDIG FLOOR oCmvt ACTUAL RP40NC~G W0%

44%

60."66 60.674 136.843 59%

6%

37%

76,439 M23.24 211047 48%

0%

42%

94761 126.675 224.715 56%

0%

46%

11 1.92 141.113 240.942 59%

6%

53%

120045 197.04 226.520 m6%

60%

56%

141.5m4 243.376 245.017 999%

60%

6A%

159.M2 306.3A3 2621707 117%

60%

67%

106.254 374,776 2611.675 13M%

60%

71%

214.173 419.061 300.00 13W%

60%

74%

239.957 43.5.605 322.522 136%

60%

77%

0 60%

63 0

6%

65%

0 60 87%

0 81 9%

0 63%

9^%

0 us%

96%

0 65%

96%

0 86%

100%

0 67%

101%

0 114%

103%

0 69%

104%

0 90%

205%

0 91%

105%

0 m2 107%

0 93%

106%

0 14 00%

0 16 09%

a 96%

109%

0 97%

110%

0 90%

110%

0 99%

Ila%

0 110%I 0

1 D 09%

0 100% ion0 2W 07%

0 12OD%

100m 0

10% 106%

0 100%

105%

0 IW% 091%0 100%

103%

0 200%

102%

0 I%

0%

0

Southern California Edison Company Palo Verde Unit 1 Funding Plan

/

"Actual Accumulation Funding Floor U) 0 0

N 0 0)

N~

0) 0 0

C0 4 01 N

2000 FUNDING STATUS COMMITTED ACTUAL FLOOR U) 04 0

C) 0

$ AMOUNT

$ 91,150

$141,277

$ 72,920 CN C0 Ct)

\\

Ur)

(N 0 N~

PERCENT 90%

139%

72%

(0 N~

ar)

N 01 C) 150%

125%

100%

'I it 75%

50%

25%

0%

03) 0)

Committed Accumulations cr) 0Y) ar)

Uj)

(3) ar)

0) a)

ar) 0 0

O 8

c-0 C) i Jl

...1111ý m J110 11111

Southern California Edison Company Palo Verde Unit 2 Funding Plan

/

-- Actual Accumulation if iT Funding Floor Committed Accumulations

0) or) 0)

0 T=-4 0

O C..)

0 0 0f) 0 0 C1 0

0 0

0 C"

cv) 0 N

2000 FUNDING STATUS COMMITTED ACTUAL FLOOR In 04 0 N-0

$ AMOUNT

$ 95,951

$140,883

$ 76,761 C0 0)

CV)

C) 0*

014 0

PERCENT 90%

132%

72%

C" 04 C) 4 0'X cr) 0 150%

125%

100%

(

75%

50%

25%

0%

4 0r) 0)

(V)

0) 0)

UO) 0)

0)1 C9)

C1) 01 Sr 11110

, 1111 1.........

.111 10 11111 N

Southern California Edison Company Palo Verde Unit 150%

125%

100%

75%

50%

25%

3 Funding Plan 0%

o)

M

0) 0

0) 0 0

0 0>

C>

(W-v-

("

m M

M M

oD 0cm

)

0M 0

C 00 C 0 0

0 0

0.

0 0

Southern California Edison Company ANPP Funding Plan -All Units 150%

125%

100%

75%

50%

25%

0%

0) 0)

-- Actual Accumulation FUNDING STATUS

$ AMOUNT PERCENT

_COMMITTED

$ 299,946 93%

SFloorn ACTUAL

$ 435,605 135%

Floor Committed FLOOR

$ 239,957 74%.

Accumulations i!

i i

I to r-0o o 0

0)

(4 CA

(

Cl) 0r) 0r) tn

03) 0)

0..

0) 0)

V--

(V C>

8 to' C)

(N1 0) rl0 0

C1 C"

C*,,

V)

T_

o 0*

04 (N

0..

(-

C)

C-0 0

(,N c~r)

(Nj

0)

(Nj V_

(11 C)

C) 01 04 Uf) 0 (N4

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 Appendix B, Tab 5 1570074 P1i4 V/70001

rum m, lo" 1RvoI'Ic i iphr trNy ovF mr'll mrx it rAI.O VCEHL li~4 II (so"o)

Funding I1ldn id,'ir hIord $

Est Centls

% f#ended 1991 1.09l 1992 3,450 1 993 5.981 19W4 6.3107 1I"5 7.018 1996 1.107 1997 9,212 I99 11,170 1999 12.953 12000 15.193 2001 17.638 2002 20.303 24143 23.213 2004 26.363 2005 29.794 2006 33.519 2007 37.541 2003 41.883 2009 46.63 I 2010 51.773 21111 57.214 2012 63.295 20113 69,8106 2014 76.785 2015 84.248 2016 92.224 2017 101.133 2013 110,641 2019 120.734 2020 131.598 2021 143.121 2(122 155.670 2023 169.443 2024 134,529 2025 177,461 2026 162,427 2(127 133.046 20128 111.417 2029 31.546 2010 47,410 2031 30,656 211.12 27.380 21113 23,343 2014 15.976 21115 7.431 20116 6.321 2037 14,337 23.746 45.099 47.354 49.722 45.959 43.257 50,670 56.373 59.717 62,703 65.83.8 69.130 72.586 76.215 30.026 84.028 83.229 92.640 97,272 102.136 107.243 112,605 113.235 124.147 130.354 136.372 143,716 150.901 158.446 166,369 174.637 133,422 192.593 202,130 191.808 173.237 145.297 115,746 83.628 43.010 30.656 27.330 23,348 15.976 7.431 6,323 14.337 3 31%

7.65%

1263%

1369%

15 27%

1630%

is 19%

19.64%

21.69%

24 23w/

26.79%

2937%

31 98%

34 59%

37.23%

39839%

42.55"o 45121%

47,99%

50.69%.

53 35%

5621%

59 01%

61.5%

64 63%

67.3 3%

7037%

73.32%

76 23%

79 10%;

81.93%

84.87%

87.93%

91 27%

925*2%

93.76%

9501%

96.26%

97.51%

98.75%

I(10 041%I I (311 (mU/

100,.1111 100 0%

100 00%

100 001%

Funding FIlnr Curve Actual Funding

('raria Percent

£,Imount Iunud ESf Coss

% Funded 30%

3 05%

376 1.096 23,746 3.81%

30%

6 12%

2.760 2.334 45.099 5.13%

30%

I0 10%

4.785 3.691 47,354 7.79%

80%

I0.9".

5.446 4,117 49.722 3.21%

10%

12 22%

5.614 4,235 45.959 9.21%

30%

13 44%

6.486 3.094 48.257 16.77%

10%

14 54%

7,369 9,999 50.670 19.73%

80%

15.71%

8.936 14,095 56,373 24.78%

30%

1735%

10,362 17,434 59,717 29.19%

80%

19.38%

12,154 18.507 62.703 2921 811%

21.43%

14.110 30%

23.50%

16.243 81M/.

25.58%

18.570 so*/.

27 67%

21.090 80%

29.78%

23.335 31%

32 31%

27.150 32%

34 39%

30.714 83%

37.52%

34.763 84%

4031%

39.212 85%

43.090/a 44.007 86%

45.83%

49.204 87%

48.90./

55.067 83%

51.96%

61.429 89%

5505%

63,339 90%

5.317%

75.323 91%

61 32%

83.924 92%

64.74%

93.042 93%

68.19/o 102.896 94%

71.66%

113.537 95%

75.15%

125.018 96%

7865%

137.396 97%

8232%

151.000 93%

86.22%

166.054 99%/

90.36%

1320684 100%

92.52%

177.461 1001/

93.76%

162.427 101/0 95.01%

131.046 100/.

96.26%

111.417 1 010M 9751%

N 81.546 100%

98 75%

47,410 100%

I00.00%

30,656 100%.

100l00%

27.380 I0II(

101 0W%

23.3-18 1 I110/

I0 (10%

15.976 II11%

10 W 00%

7.491 1004/6 100 0l%

(.3823 100%.

100.001/6 14.337 F.hisibi 3 4 m

Public Service Company Of New Mexico Palo Verde Unit 1 120.00%

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%

Actual Accumulations 0.00% -++-

N N

i,,

E~xhibit 3.4

rlglllIC-SEI.RVI(CE: ( (0I4IO'ANV41 41 NE'W MIXI(CO PALO VEIlRDIE UNIT I ISINKI andilsdg Plan feicr I-ulid S I:J l (/,.*

Cost i*,; Ld 1991 1992 1993 1994 I995 1996 1997 19993 I9*)

2111X1I 20012 2(H1)2 21X)3 2(104 211115 20o7 2007 2009 2010 2011 2012 21313 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 20224 2025 2026 21127 2028 2029 2030 2031 2032 2033 2011 2(035 2036 2037 I,(196 3,426 5.936 6,756 7.3.16 8,4115 9,645 11.1161) 13.754 R6.1 17 18.726 21,555 24.642 27,992 31.633 35.594 39,862 44.469 49.360 54.973 611.747 67.198 74.118 81,522 39.454 97.932 107.382 117,485 123.246 119,720 151,965 165.279 179.239 193.779 199,710 131,142 1410.195 135.984 108.520 77.154 47.098 30.724 25.821 17.123 8.1111 7.479 15,.021 28.499 4.1,375 46,59.1 4R.923 47,703 511,038 52.593 59,869 62.862 72.771 76.409 30.230 A4,241 88,453 92.876 97.520 102.396 107.516 112.891 111.536 124.463 1311.636 137,220 144,081 151.235 15N.849 166.792 175.131 133.888 193.082 202.737 212.873 217,5.19 195.154 170,693 143.338 113.160 79.606 43.083 31.1144 253.821 17.123 X.1111 7.479 15.021 3 85%

7,72%

12.74%

1381%

15 40%

1694%

13.34%

1991%

21 A3As,'

24 44%/

27,02%

2962%

32.25%

34 99%

37 55%

40 24%

42 92%

4560%

43,40%

51.13%

533.81%

56 69%

59.55%

62.33%

65191/.

67.97%

70.98%

73.96%

76.99 79.73%

82.64%

85 60Mr 33 41%

91 03%

91 Sir/*

92.82%

93.835%

94.37%

95 9%

96.92%

97.95%

93 97%

100.00%

100 00%

I(l(0%

1 W20(0%

10 III(;

Fundling Flunr (urve (Cruieria Perccoi J.4mounl 30%

3 01%

177 80%

6.13%

2.741 80/o 10.19%

4,749 so%

I 105%

5.405 A0)%

12 32%

5,377 8(0%

13.55%

6.738 30%

14 67%

7,716 80%

1 835%

9.438 110%

1750%

11.003 X01/6 19.55%

12.905 RI%

21.62"7.

14.981 80.% 23.70%

17.244 R0%

25.80%

19.714 30%

27,91%

22,394 30U%

30.04%

25.306 81%

32 59%

23,331 32%

35.19%

32.687 83%

37.85%

36.909 34%

4066%

41,630 35%

43.46%

46.727 86%

46.23%

52.242 37%

49.32%

53,462 38%

52 40%

65.223 91/*

55.52%

72,554 90/

538.67%

80.508 91%

61.35%

39,118 92%

65.310%

98,792 93%

68.73%

109.261 94%

7228%

120,551 95%

75799/6 132,734 96%

79.33%

145.386 97%

83303%

160,320 93%

36 64%

175.655 99%

9012%

191,341 100%

91 8001; 199,710 I1%Me 92.32%

181.142 1009 9315%

160.195 100%

94.87%

135,984 I00%'.

95 91)%

108,520 10M0%

96.92%

77,154 1 0*le 9795%

47.098 100%

93.97%

30.724 101W/M 10000%

25,3821 1lr le.

100 W(

)/.

17.128 1 W)0% 100 W/%

3.101 100%

10000%

7,479 100%

100 00/

13.1121 Actual Funding hlid $

Eit (C.oil 1 Funded 1.096 23.499 3.85%

2,334 4-1.375 5,26%

3.691 46,594 7.92%

4.117 48,923 8.42%

4.235 47,703 8.38%

8.479 50,083 16.93%

10.368 52.593 19.71%

14.5211 59,869 24 27%

17,962 62,362 28.57%

El.hig J 4 Iv.ul 1 (60,UU3 I

Public Service Comany of New Mexico Palo Verde Unit 2 Exhibil 3.4 120.00%

100.00%

80.00%

60.00%

40.00%

20.00%

0 00%

I N

I Ib N

.1 N

5

'A Ne ip Ife e

'ON Ip Ip 10 10, Ip 10, 10,

1`111II.1t: SER VICE: (

OF11 NV NEW ME.XICO rALO VFIRt.II)I:llr1r

($=I)~

Funding~ floor Curve I fonu Im r I Amu Actual Fooldiag I _LJj 1LjLCA h

1996 1992 1196 2001 24132 2001 2I144 20105 20(10 2w)1 2003g 204p3) 2010 2011 21112 21111 2014 2011 2016 24111 2013 2019 2020 2021 2022 20i3 2024 2025 2026 2027 2023 2029 2010 2011 2012 21113 2014 NIS9 2016 2017I 317 2.122 4,116 3.110 6.239 7.208 3,190 9.594 11.123 B1.041 1.097 10.106 2,33 46.267 3.692 49.211 4,117 31.671 MIS1 33.161 9,001 36.556 10,223 39.384 11.619 64.371 16,177 67.590 18..ll 70.970 1.401 6.712 1,199 9,009 10,213 11.992 11.90 1 16,109 13.935 21.7"9 24,913 31.992 "4.10.1 44.96?

50.1 I6 ss.%32 61.420 61.945 74.942 312.4 27 90,44)

"99003 101.579 111.790 129.679 141.213 15M-1.4 167.121 131.2 12 195.949 203,679 213.162 201,7711 111.5sl 11,0,616 114,991 110.192 31.416 44,141I 24,.497 7.411 6.329 11.1.3.7 Eal,,bie 3 4 Isaadee3 I'Ie 362%

4,93%

7.W0%

7.97%

7.36%

15.91%

11.22%

13.16%

24.21%

11 3 1.E 10.106 46.361 49.2 II 51.671 31.36) 56.,556 39.134 64.112 61.390 10,9 10 74.5 11 713,244 82.1s1 36.264 90.5 74 95.101 "9.862 104.,33 110,.093 115,601 121.131) 127.452 1.11.314 140,116 14 1.341 154.919 161.664 110.793 179,338 133,304 191.120 207.606 217.916 223,333 216.09$

24 1.4533 226.6344 201.966 115,039 144.951 116.592 84,9 13 49.708 24,311 7.431 6,323 14,117 162%

162%

1I911%

12 99%

11411%

1193%

17 24!i 113%6/

20 57%

221931.

2s 41%

21736%

3033%

32111%

31.11%

37134%

40 36%

42 33%

4Is S2%

4101%

so06014 5331%

56, 00%.

S866%

6130%

61.91%

66.75%

6953%

7? IM.

75.03%

71171%

30.5014 13.131.

81.61%

36.21%

31.64%

19 01 %

".039%

91.76%

91.11%

9411%

91 33%.

91.23%

9t63%

10000%

100 00%

IU000m; A0r/.

2 90%l 30%

6 10%

A 0r/.

9 531%

00%

10. 19*16 90%.

11338%

A0 (r/

1 74%

30%

13.7914.

111114 14 90m.

90%

1A 46%

30'..

193 1%

In%

20 11%

110%

2229M.

3014 24 26%

10%

26 25%

30%

23 26%

11%

30 65%

32%

11j10%

31%

13 559%/

84S6 31.24%

35%

40 32%

36%

4352%

31%

46.31%

33%

49.21%

39%6 32 21%

90%

35.17%

91%

53 16%

92%

61,41%

93%

6461%

94%1 6?.97%

93%

71111%

9614 74 U11%

91%

7309%

93%

11.41%

99e,1 34.75%

1001/

36.27%

100%

31.64%

10054 8901s; 100r%

9019%

100%

91 1 6%

10M%

91 13%

1(410%

94 51%

100%

9S.33%

100%

91.25%

100%

93.61%

1 Mr/.

10000AM 100'r'.

I 143 1*0'.

600M.

I(4W0MM 11.148 11.439 19.914 22.643 25.,194 29.151 13.049 37,313 42.096 4 7.244 52,821 59.112 65,949 7),160 III.]"

"90e09 "99892 110.47S 12 1.395 1 14.221 147,502 162.109 177.587 19.1.939 203.6"9 213.362 201,171 182.355 160,616 134.99) 110.192 81,416 411.341 24.497 7,4311 6.323 14.317 23111j%

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 40oo%

Fur 40.00%

20.00%

Actual Accumulations 0 00%

Exhibit 3.4

PUBlIC SERVICE C(OMPANY OF NEW MEXICO PALO VERDE UNITS I. 2..3 (sooo)

Funding Plnu Funding Floor Curve Yewr I'ul S &t. Cos 55 Funded

( "riteria Percent i Amout Actual Funding _

Fud S Eq. Cosl % JF'nded 1991 1992 1993 1994 1995 1996 1997 1993 1999 20X00 2001 2002 201H3 2004 2005 2006 2007 2003 2009 2010 2011 2012 2013 21014 2015 2016 2017 2018 2019 2020 2021 2(122 20123 21024 2025 3.238 87.551 10.279 136.341 17.812 143.139 20.275 150,316 22.164 147.525 25.601 154,901 29.095 162.646 35.022 13,1 14 40.610 190.169 47.633 199.678 55.299 209.662 63.657 220.145 72.773 231,152 32.659 242.710 93.418 254,845 105,100 267.517 117.7013 230,967 131.314 295,015 146.357 309.766 162.327 325,254 179,380 341.517 198.438 3538.593 213.365 376,522 240.733 395,343 264.145 415,116 239.165 435,872 317.093 457,665 346.916 430.543 378.709 504.576 412.602 529.305 443.734 556.295 489.071 5A4.1 10 529.X94 613.315 574.257 643,938 5(11.,511 645.452 3.76%

7.54%

12.44%

13.49%/,

15.02%

16.53%

17.891/9 19.34%

21.35%

23.R6%

26.33%

2A.92%

31.43%

34.06%

36.66%

39.23%

41.399/.

44.51%

47.25%

49.91%

52.52%

55.34%

58.13%

60.3991/

63.63%

66.34%

69.291/.

72.190/6 75.05%

77.88 %

30.66%

83.56%

36.401/o 89.18%

89.990/.

3,239 87,551 3.76%

7,003 136.341 5.14%

11.074 143.159 7.74%

12,351 150.316 3.22%

12.705 147.525 3.61%

25,531 154.901 16.51%

30.594 162,646 13.31%

40.312 131.114 22.26%

51,773 190.169 27.22%

55.910 199,673 28.00%

Exhibit 3.4 908/6 3.006/6 2.630 80"/.

6.03%

8,223 80%

9.95%

14.250 80%

10.790/

16.220 30%

12.02%

17.73 I 801/6 13.22%

20.481 80%

14.31%

23.276 80%/6 15.47%

23.013 10%

17.03%

32.433 80%

19.08%

38,107 80h/*

21.100/6 44.240 80%

23.13%

50,926 30%/6 25.19%

58.219 801./

27.25%

66.127 30%/

29.33%

74.735 31%

31.81%

35.131 82%

34.35%

96.521 83%

36.94%

103.990 34%

39.69%

122,940 35%

42.42%

137.978 86%

45.17%

154.267 37%

48.14%

172.641 83%

51.15%

192,601 89%/6 54.191/

214.253 90%

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%

430.7R5 97%

81.05%

473.429 93%

84.67%

519.296 99/% 88.29%/9 568.514 1Iveo 99.99%

530.50

21226 556.9111 6 11.I14-1 91.001%

2027 50101.013 542.673 92.14%

21212 429.958 461.149 93.26%

20129 350.682 371.127 94.31%

2030 259.557 272.567 95.23%

2031 187.945 195.332 96.22%

2032 139.539 143.359 97.34%

21133 97,5 10 99.877 99.62%

2034 57.601 57,942 99.4 1%

20135 23.064 23.164 I00.004%

20136 21.134 21.134 100.00%

20137 43.696 43.696 100.0(1%

I(1ow' 91.01%

356.931 I o4'/.

92.14%

500.013 1I(H No 93.26%

429,958 1M10%

94.31%

350.682 100%

95.23%

259.557 100 %l 96.22%

187.945 1 (O/o 97.34%

139,539 100%

98.62%

97.510 1 W( /e 99.41%

57.601 100%

100.0%r/o 23.1164 100%

100.N0%

21.134 1 o(r1%

100.00%/a 43.6%

Exhibit 3.4

Public Service Company of New Mexico Palo Verde Units 1, 2, and 3 12000%

2000 Funding Status SAmount Percent Committed

$47.633 23.88%

100.00%

Actual

$55.897 27.99%

Floor

$38.107 19.08%

80.00%

60.00%

Committed Fundinj Accumulations 40.00%

20.00%

0c,0 J%

I I I I II I I I I I I I I I

1 I I

I o f N

h('I Exhibil 3.4

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 Appendix B, Tab 6 6%

6.83%

5.91%

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

t570074 PM4 3ff1?W I

S01J*1IIIERN CALIF ORNIA 1-IitIIIC POWERl AJTIIoiItuy Palto Vermde Irojccl -TelCif61621 1 06 Casil FIliodling 611,41 6 1Iabop 4L LIN 3no6oJ.'

6\\66m1'M to v %Y'.6 I

r-P63U9J.*

rt I-IPl'641 Vll66).Lil 6AM.LA

1.

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IVVD6 6666 C t.

6796 6663430.

6W02 636 C $I.

two?

6664 66I.

6796 film34 0.

6994 IN6 C 16.

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61091 M.C( so.

1969~

JUN13

.1141. 0"~1 Iu6Cr 66.

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6991 66LC' 66.

6993S It6IN J0.

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2lo02 AUN Al.

2002 3IWC

36.

3003

[5.)fi 3 004 it N 30.

3003 6*IC so.

2001 JUN 10.

2004 63LC 16.

2004 JUN33 N.

2001 656C W6 2001 AUN10a.

20636 6666)16.

20i6 1563 IN6t.

2009 I6.(

WC 3009 60 It 62 If 64 Is

16.

61 Is 69 20 26 32 35 14 25 24 27 is 29 It0 if 32

1) 13 is 40 46 42 45 44 4S 44 41 43 1454.910.1 9

13.761.16z 66 1.103..421 63 1.53).029 63 7.2346.16 67 10.344.149 69 62.544.100 20 64.414.291 26 164.16.900 22!

694068 24 26.083S.7s is 22300.147 24 29.444.194 10 W311474113) 16 1.4.49 3!

W11.6)6.60

1) 34,416.895

.64

)1.721.281 i) 37.633.781 36 13.62711971 31 40.621.434 is 46.446.006 19 41.261.246 40

".9613.061 46 44.421.B3) 42 4S1.39.34

4)

NJ.264.716 44 12.601.950 4s 51.059,765 44 364.13 7.9w3 61.105.610 15.94161M4 16.0s,1.5) 16.716.987 17,430.9!6 1.%!4..411101 1.6 1.990 1.424.000 3.3)3.360 9,149.7f.4 61.164.013 162.94.400 14.339.750 164.7SI 131.

183.1649.6 46 20.0619.944 216.94.004 li212.1.60 25.239.444 27.783.557 13.913.636 N0.612.6134 J16654.916 112.641.1$37 13.994.410 11.210.040 J6.41.3341 39,7613.231 41,.275.1 50 42.390.S54 44.S461022 44.281.147 43.013144 49.92 3.195 13.300.051 11.3 12.4 11 611.)06.793 so 0

0f 0

6.230.4.40 6.279.340 1.214.4.40 11.01.1160 5 1.17.40 6.2 31.340 1.109.140 6)326.930 6.62?0.440

!01.165 M0.14) 203S.614 203

.74.1 10S.741 201.743 203.165 203.741 201.76S 303.74$

205,741' 205.143 20S.745 116.6 1.240 44 1.094 147,)01 421,5.13 716.934 59.)6104

.141.46) 9.0610 409.310 23 1.916 41,4.110 696.930 S40.63 1 194.64) 1903.703 1"4.784 639.134 1.671.031 946.308 91111.2 31 6.339.012 6.016.630 6.6 64.133 6.6159.31a 1.206.523 1.2534,.13 6.104.62a 1.334.208 1.409.549 6.4644.16 6.530.7)4 1,441.164 6.104

.331 1.170.104 6.3 31I.

65 s0 0

0 0

0 U

0 6.4g0.140 61.430.760 6.4 79. 240 6.4B9.740 6.014.1!

0 6.450.740 1.419.240 61.44 2.1640 6

.440.720 M9.294 M9.2%4 S92

.2%4 1 92.394 692.294 191.299 6 92

.39 192.294 692.294 6 92.,299 6 92.2%

6 92.29 1 92,!296 S1,440.621 139.414 91.091.1 1693.678

.12.449

$78.102 2216244

-19.451 642.162 124.204 4716.54 6.029.492 1.11 1.295 6.137.330 1.203,1010 1.404.711 1.41111.255 6.51561.41 I.571.98 16.4j"30

.6.6794,1 6.461.187 6.827.899 6 961,234 S44.11121-2911 64.3)1.4 62 61.122.384 I 1.520.147 6345)441 9$ 64343 1.5 60)03 7.414.149 1.444,300 3.242.403 9*994.941 I 6.414.177 6 %I)1200 63.5-..14 6 7.464.340 69.329.344 36.404.493 21.230.403 31.646.566 31.351.414 10 664.437 16.8)5.413 13M0.63) 31.903.144 31.233.422 14.413.208 11.084.177

19. 109.43 7 46.633.114 42.7)0.747 44.513.291 44.O99330 41.354.523 49.483.633 36.1 72.650 11.12 3.133 33.143.776 31.434.94) 19.795.49)

W4 0

0 1.240.620 1.241.260 6.!40.6230 3114."1

.194.166

.246.360 174.1".

1 14.144 1 74.3".

174,144 6 74.1166 1174.144 674.134 674.144 174.366 IPagc 10 11iNlII SF46 r 6fl1AN66 itsr.U PA')6l S646.1.1 4 IVI.914

!4.4.94V 229.831 454.24$

!44.149 4463.9,7 610.975 1047.460 15311.6) 417.59M 6.74.103 4.71.464 0

Il 4.002.000 4.602.000 1.994.00 5.212.01011 144.000A 4.002.000 5.02.000 572.422 57!.415 312.426 172.433 712.428 572.413 512.428 517.433 371.436

$12.433

$72.420 572.41211 517.429 S17.422 512.428 572.428 1.1102414%

4B."71.930 463.741 4.13.361.4 2.62G.404 50.9)4.271 2.1318.09 535169.36) 106.6%4..

M112.596.41,

-269.291 M6264.7641 11.4)3 22.1140.2110 16.74.6177 241.114_177 797.933 29.614.3112 151'.167 J1.412.49 6.3106.11114 33.713.300 2.0)9.19" 44.816.099 S40.501 N33M4.110011 6.814.008 11.260.498 1.641.924 61.054.424 973.551 66.11,10.659 6.262.214 76.240,41) 2.094.50%

77.1W1096 3.1,016.11111 si.40.931 1.025.72) 9121.69802 316433" 9s.926e.608 31.275.4,72 Vlil.74820 3.407.084 603.741,720

3.

1124 6.669.064 2.626.641 664.1poi.350 3.97S61 61.016.97 4.4461.16 6311.6110.61 4A413300 640.334.139 4.3616.203 164.310.44 4.995.634 6)6.353.062 I.OU.14 617.395.704 5.566.395 141.551.0119 1.181.25) 169.701.45" I I

.1

be '4 4

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SCPIPA PALO VERDE UNIT I FUNDING PLAN 100%

1-1 90%

I I

I, :

I

, t 80%

70%

I U

I L

SA,°%

-L K.

I w 60%

50%

z

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CO M M ITTED 20%

ACTUAL I

FLOOR 10%

90%

1 1

2000 2

2006 2009.2012 1991 1994 1997 2000 2003 2006 2009 2012 201, 5 2018 2021 2024 YEAR Page 12

SOUTlIIEIN CALIFORNIA PUBLIC PO\\VEIt AUTIIOllTY 2000 PALO VEIIDE UNIT-I FUNDING sTATUS TITIMrNATION COST' FUNDING (S TIIOUSANI))

ArIlIORIZEI) FUNDING PLAN YIEAlR FUNI)

EST. COST I)EC DEC DIEC I)Ii" DEC DEC DEC DEC DEC DEC DEC DEC D)EC DEiC DEC DEC D)EC DEC DEC DFC DEC DEC DEC DEC DEC DEC DEC DEC I)EC DEC DEC DEC 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 205 1 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 20119 2(120 2021 2022 2023 2024 20125

$4.225 5.17(1 (m.782 7.597 7,190 9.033 10.771 13.181 15.369 17,032 20,016 22,405 25,136 28.047 31.216 34,665 38,415 4 I.90 46.290 50.394 55.526 60,348 65.548 71.155 77.199 83,712 80.431 86.826 93.665 114.288 120.002 126.003 132,303 138.918 145,8(,4

$16.565 26.915 28.530 30.242 26.629 28.227 29.920 32.953 34.930 37.026 39.248 41.602 44.018 46,744 49.549 52.522 55.673 59.014 62,555 66,308 70.286 74.503 78.974 83.712 86.735 94,059 99.702 105,685 112.026 118.747 124.685 130,919 137.465 144,338 151.555

)

I

+-(

3.I 46 (

l.

(

41 FUNDING FLOOR CURVE m-.I91)

ACTUAL FUNDING

%FUNDED CRITERIA PERCENT AMOUNT FUND 26%

19%

24%

25%

27%

32%

36%

40%

44%

46%

51%

54%

57%

60)%

63%

66%

69%

71%

74%

76%

79%

81%

83%

S5%

87%

89%

91%

93%

95%

100%

900%

100*.%

I I)oX:

80%

60%

80%

81%

92%

83%

84%

85%

86%

87%

86%

89%

90%

91%

92%

93%

94%

95%

I0(0%

100%

I00%/

10()%

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%

10,(%

100%

1001%

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 88.982 114,288 120,002 126,003 132,3093 138.918 145.864

$15.227 15.762 7.103 7.350 9.380 12,545 16,317 19.630 22.801 27.221 (9-47113i EST. COST

%I:UNL)ID

$16.565 26.915 26.530 30.242 26.629 28,227 29.920 32.953 34.930 37.026 92%

59%

25%

24%

35%

44%

55%

60%

65%

74%

Page 13

-I

SCPI'A PALO VERDE UNIT 2 FUNDING PLAN 100%

T-.

90%

i

'Ii A ' AI c m I

TTED 70%

A 9

ALIHI flDL L

°i 60%

" I SI" I I

, O R..

50%

Oz I

I I

Li 20%

ACTUA 10%

i'

,I I

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

SOUIIIEIRN ('ALIFORUNIA PUBLIC I'OWEIt AU'lIOItITY 2000 PAI.O VE14DE UNIT - 2 FUNDING STATUS TIIUMINA'ION COST FUNIDING (S TIIOIISANI))

ill - 11.l 4Ill

11)

I.)

(S

- (I. 4) to.)

it..

1 SAIITIIORIZEI) FUNI)ING P'LAN FUNDING FLOOR CURVE YEAR I'LJND (EST. COSTr

%FIUNDI;I)

CRITI-RIA I'I-ItCEN'I" AMOUN I ACT U

-A()

VI:

Nits)

ACTUAL FUNDING FUtND I-ST. COST

"/.IU NDIA)lt DI-C DEC DEC DEC DEC DEC DIEC 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 DEC SI5.948 16,719 7,962 7.626 9.750 12.896 16,755 20.020 22,801 27.784 S16,423 26,483 28,072 29.756 27,640 29.298 31.056 34.689 36.770 38.976 97%

63%

28%

26%

35%

44%

54%

58%

62%

i1"/.I 1991 53.966 1992 4,932 1993 6.543 1994 8.515 1995 8,518 1996 10.254 1997 12,112 1998 14,916 1999 17,282 200(l 19.488 2001 21.897 20(12 24.962 2003 27.853 2004 31.000 2005 34,425 2006 37,596 2007 41.610 2008 45.910 2009 50.045 2010 55.142 2011 59.931 2012 65,095 2013 70,663 2014 76.665 2015 84.068 2016 91,0P2 2017 98.657 2018 105,689 2019 114,388 2020 123,752 2021 132,502 2022 139,127 2023 146,083 20)24 153,387 20)25 161.057 2026 169.110 S16.423 26,483 28,072 29,756 27,640 29,298 31.056 34,689 36.770 36.976 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%

I I0%

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%

10.,%

S3.173 3,946 5.238 6.812 6i.855 8.204 9.690 11.933 13.825 15.590 17,517 19.970 22,282 24.600 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 IPagc 15 i

T5-1

SCPPA PALO VERDE UNIT 3 FUNDING PLAN 100/o%

C J

I II

~I C

I 70,.

°% ACIA z.

oz-50%

I-I S...2000 FUNDING STATUS 30%

-AMOUNT PERCENT COMMITTED

$19.697 000 47%

20%

ACTUAL

$30.117.000 72%

i FLOOR

$15,757.000 38%

0o%

I I

I.

0%'

t-J---.

06 00 i..

n, ox "non 2003 2006 2009 2012 2015 2018 2021 2024 2027 19J9ll YEAR Pagc 16

SOUTIIIERN CAI.IFORNIA PUBLIC POWER AUTIIORITY 2000 PALO VERDE UNIT -3 FUNDING STATUS TERMINATION COST FUNDING (s TIIOUSAND) to)

-*, A)(

)"

41 I}-

- Q a i

()

1931" ? IM6

AUIIORIZI) FUNDING PLAN FUNDING FLOOR CURVE ACTUAL FUNDING YEAR I:UNI)

EST. COSTr

%FUNDED CRITERIA PERCENT AMOUNT FUND EST. COST

%FUNDED DEIC 1991 S3.098 I)IAC 1992 4.125 DrIic 1993 5,769 I)I'C 1994 8.375 DEC 1995 9.051 DEC 1996 10,917 DEC 1997 12.624 DEC 1998 14,919 D)C 1999 17,396 fDEC 2000 19.697 DEC 2001 22,211 DEC 21)02 24,956 DEC 2003 27.951 DEC 2004 31.216 DEC 2005 34,771 DEC 2006 38.046 DEC 2007 42.219 DEC 2008 46.088 DEC 2009 50.978 DEC 2010 55.537 DEC 2011 60.461 DEC 2012 66.618 DEC 2013 72.403 DEC 2014 78.642 DEC 2015 85,369 DEC 2016 92.621 DEC 2017 99.306 DEC 2018 107.657 DEC 2019 116,653 DEC 2020 126,340 DEC 2021 135,345 DEC 2022 151,016 I)DEC 2023 158.567 DEC 2024 166,496 DEC 2025 174.820 DEC 2026 183.561 DEC 2027 192,739

$18,225 28.298 29.996 31,796 31.209 33.082 35.066 37,298 39.536 41.908 44,422 47.088 49.913 52.908 56.082 59.447 63,014 66,795 70.802 75,051 79.554 84,327 89.386 94,750 100.435 106,461 112,848 119,619 126.796 134.404 142.468 151,016 158,507 166,496 174.820 183.,561 192.739 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%

I 00OI.

100%

I (mr/,

100%

80%

81%

82%

83%

84%

85%

86%

87%

88%

89%

90%

91%

92%

93%

94%

100%

I00%

100%

14%

12%

15%

21%

23%

26%

29%

32%

35%

18%

40%

43%

45%

47%

49%

52%

54%

56%

59%

62%

64%

67%

69%

72%

74%

77%

80%

E2%

85%

87%

90%

100%

$2.478 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 33.032 17,617 35.066 21.404 37.298 25,162 39,536 30.117 41.908 Page 17 95%

65%

26%

24%

32%

40%

50%

57%

64%

'Ii.,

I I oz7e J

SCPPA PALO VERDE ALL UNITS FUNDING PLAN Pagc 18 100%

90%

80%

70%

0 uw 60%

0 z D

LL S

,50%

z w 0

40%

30%

20%

10%

0%

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

sou'rimIIN CALIFORNIA I'UuLIC POWVEIR AUTIIOItI"Y 2000 PALO VERI)E AI.L UNITS FUNDING STATUS TFlIRINATION CoSr FUNDING (IN TIIOUSANDS)

I 'I 11) 14" ALI'rIORIZED FUNDING PLAN FUND I"T COST

%FUNDED DEC DEC DEC DEC DEC DEC DEC DEC DEC 1I)I.C DEC DEC DEC DFC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC I)I:C DIEC DEC 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 20411 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 SI1.2899 14,233 19.099 24.487 24.809 30,204 35,507 43.016 50.047 (A4.124 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 I5I"I.)I.

(4 4

FUNDING FLOOR CURVE

,(

4)

CRITERIA PERCENT AMOUNT S51,213 81,696 86.598 91.794 85,478 90,607 9o,043 104.939 111.236 117,910 124.984 132,484 140.433 148,859 157.790 167,257 177.293 187,930 199.206 211,159 223.828 237,258 251,493 266.583 282.578 299.533 317.505 336.555 356.748 378.153 399.655 421.062 442,115 464,221 487.432 352.671 192.739 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%

89W/o 88%

89/

91%

96%

97%

99%

99.%

100%

80%

81%

82%

83%

84%

85%

86%

87%

88%

89%

90%

91%

92%

93%

94%

95%

96%

97%

100%

1001%

100%

III 1)-l118 ACTUAL FUNDING FUND EST. COST

%FUNDED S48,398 "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 96,043 104,939 111.236 117.910 95%

62%

26%

25%

34%

43%

53%

58%

64%

Page 19 It)

V. -

I YEAR 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%

900/h 94%

95%

100%

10%

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 "99.780 110.613 123,187 136.306 150,635 166,364 182,788 200,691 221.037 242,342 254.941 277,875 303,827 349.348 379,728 416.146 436.953 458,801 481.741 352,671 192,739 l

721/61

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 PJH V6/200 I 1.5;0074

Department of Water & Power Palo Verde Project Termination Cost Funding I I,~i I Dat!

r!Liod Contribiusign II Unit 2 II idl Onzt lIkil Inleresi Baum Unit 3 U.it 3 I!"

Contrbtion~i in~tcrl 31

] [Grand "rol ContralfibUitn Interest 1fr 1l/31/90 10 6/30/91 II 223.326 12/31/91 12 223,326 6/30/92 13 2.3,326 12/31/92 14 434.027 6/30/93 Is 445.545 12/31/93 16 431,919 6/30/94 17 431.919 12/31/94 Is 431,919 6/30/95 19 431,919 12/31/9S 20 1.755.562 6/30/96 21 1,755.562 12/31/96 22 1.593.396 6/30/97 23 1.593.396 12131197 24 1.593.396 6/30/93 25 1,593.396 12/31/91 26 1.593.396 6/30/99 27 1,629,219 12/31/99 21 0

6/30/00 29 0

12111100 30 0

6/30/01 31 (122.340) 12/31/01 32 (022.340) 6/130/02 33 (122,340) 12131102 34 (122,340) 6/30/03 35 (122.340) 12131103 36 (122,340) 6/10/04 37 (122.340) 12/31/04 33 (122.340) 6/30/05 39 (122.340) 12/31/o5 40 (12-.340) 6/30/06 41 (122.340) 12/31/06 42 (1_12,340) 6/30/07 43 (122,340) 12111/07 44 (12,.340)

(,/1010%S 4%

(i _'2. 1-0) 106.706 423,941 116,169 104,372 90,154 87.753 111,532 (131,334) 404,893 262.533 260.302 258.22) 247.064 565,373 738.933 "996,208 2,444.200 2,774,232 3,426,499 3,766,694 4,305,593 4,841.992 S,361.664 5,905,115 6,205.700 7.042,517 9,060,617 11,076,411 12,928,100 14,768,560 16,927,329 19,260,158 21,49.762 (214.470) 23,264,510 211.345 152,897 1.765.642 913.304 940,983 969.640 999,296 1,029,939 1,061,757 1,094,637 1.128.667 1.163.83 1.200.343 1,238,073 1,277.123 1,317.541 1.359.373 23.475.855 24.328,752 26.094.394 26,B85.351 27,704,006 28,551.307 29,423.263 30,335,912 31.275.330 32,247.627 33,253,954 34.295.50) 35.373,506 36,439,239 37,644,021 38,839.224 40.076,257 41,.1(,.%g 3

9 10 II 12 13 14 15 16 17 i3 19 20 21 7?

23 "24 25 26 27 23 i9 30 31 32 33 34 35 36 37 3S 39 40 41 42 41 232.478 105.780 232.478 490,438 232.473 111,934 423.694 129.716 421,072 173.551 414.84 93.88 414,834 10,343 414,884 (120,146) 414.84 339,916 1,669.739 235,535 1,669,739 197.615 1,753.112 211,610 1,753.112 233,202 1,753,112 533.50 1,753,112 794,564 1,753,112 653,844 1,750.953 1138,71 0

346,764 0

804,598 0

1.536,294 (93,443) 919.422 (93,443) 943.331 (93.443) 973,252 (93.443) 1,009,220 (93,443) 1.041.272 (93,443) 1.074.446 (93.,441) 1,108.732 (93,443) 1,144,318 (93,443) 1,131,099 (93.443) 1,219,167 (93,443) 1,253,567 (93.443) 1,299.347 (93.443) 1.141,553 (93,443) 1.,35.237 (11.443) 1,430,150 2,159,244 2,497,502 3,220.413 3.564,30 4.113,240 4,712,363 5.221.635 5,646,362 5,941,600 6,696,400 8,601,724 10,469,071 12.43,SOO 14,425,114 16,762.076 19.309.752 21,716.708 23,531,532 23.928.296 24,732.894 26.269.117 27,095,166 27,950,054 23,334.63 29,750,640 30.698,470 31,679.473 32,694,912 33,745.638 34,833,344 35,959,063 37,124,192 18,330,096 39,578,207 40,970.001 42,207.00K 6

7 3

9 10 II 12 13 14 15 16 17 Is 19 20 21 "12 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 33 39 40 11 270.90 270.890 270,190 464,724 477,502 462,937 462.917 462,937 462,937 1,84,499 1.884.499 1.963.492 1,963,492 1,963,492 1,963,492 1,963.492 1.929,329 0

0 0

(31,324)

(1,3324)

(31.324)

(31,324)

(31.324)

(31..324)

(31,324)

(31.324)

(31.241) 71,900 432,437 77,462 84,937 111.010 52,475 47.978 (159,363) 295,915 181,836 152,131 150,991 114.312 399,527 549.326 511,371 1.493.407 1,36.197 2.539.524 2,3887.76 3,437,537 4.026,049 4.541.511 5,052.476 5,355,600 6,114,502 1,130.317 10.217,517 12,332,000 14.430,304 16,343,323 19,356.141 21,31,004 (245,230) 23.515.553 316,063 233.831,616 773,362 24,609,971 1,623.514 26.233.492 918,172 37.120,340 949.212 21.033.223 981.338 23,913.242 1,014.588 29,971.507 1,049,003 30,939,115 1.034.621 32.042,493 1,121,417 33,132,646 1,159,643 34,260,964 1,199,134 35,423,774 1,240,007 36.637,457 1,2I2,311 37,93N,444 1,326.096 39.113.215 1,371.413 40.521,304 1.419.316 41.910.295 I.-1(.6.9(.0

.11. 14'i3 9 P 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,oo0 5.310,000 5,310,000 5,310,000 0

234,336 1.351.116 306.265 319.525 375,415 234.116 169.353 (411.343) 1,040.729 680,09 610,041

.610,124 670,073 1.549-250 2,082.323 2.161.423 6,096.51 7,107,9)1 9,186.441 10.219,400 11,861,370 13,580.904 15,124,110 16.604.453 17.502.900 19.153,419 25,843,223 31,763,076 37,693.900 43,671.973 50,533,223 57.926,051 65,397,474 S.310,000 (345.379) 70.361.595 0

374.172 71,235,767 0

2.435.56 73,671.,62 0

4.925,450 78.597.074 (247.107) 2.750,393 1.100.165 (247.107) 2,131.510 3).692,233 (247.107) 2,929.230 36.374,412 (247,107) 3,023.104 39,150,410 (247.107) 3,120.264 92,023,567 (247.107) 3.220.325 94,997.286(

(247,107)

,.324.905 91,075,014 (247,107) 3,432*,62 101.260.(06 (247.107) 3.544,121 104,557,620 (247,107) 3.659,517 107.970.0)0 (247,107) 3,773,951 111.501.975 (247,107) 3,902,566 115.157,314 (247.107) 4,030.507 111.940.714 (247,107) 4,162,926 122.956.55,1

""Il I, iI Inll'wat LaIUM"

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

Unit I I

Unit 2 Unit 3 I

V1U I'cri o

nt ibto In~cL*u pa oc J*~

nti io In~tcrest L2120 tuiod Contribiotion Intges BlUn 12/31/0 46 (122.)40) 1.447.411 42,681.727 44 (93,441) 1,477.245 43,590,311 42 (31.3"4) 1,517,104 44,831,612 6/30/09 47 (122.340) 1.493.160 44,053.243 45 (93,443) 1,525,673 45,023.046 43 (31,324) 1,569.106 46.369,394 12131/09 48 (122.340) 1.541.364 45.472.772 46 (93.443) 1.575.307 46.505,410 44 (31.324) 1.622.929 47.960.999 6/30/10 49 (122.340) 1,591.547 46,941.980 47 (93,441) 1,627,689 43,039.656 45 (31,324) 1,67l,635 49,608,310 12/31/10 50 (12,3.40) 1.642,969 41,462.609 43 (93.443)

IC61.338 49,627,601 46 (1,.324) 1,736,.91 51,.113,276 6/30/11 51 (122,340) 1.696.191 50.036,461 49 (93,443) 1.736,966 51,271,125 47 (31.324) 1.795,965 53.077.917 12/3/11 52 (122,340) 1,751.276 S,665,.391 50 (93,443) 1.794,489 52.972,171 48 (31,324) 1,357,727 54,904,320 6/30/12 53 (122.340) 1,8083,29 53,351,347 51 (93,443) 1,354,026 54,732.754 49 (31324) 1,921,651 56,794,647 12/31/12 54 (122.340) 1,867,297 55,096,304 52 (93.443) 1,915,646 56.554.953 50 (31.324) 1,937,313 53.751.136 6/30/13 55 (122.340) 1,921.371 56,902,335 53 (93,443) 1,979,424 53,440.931 51 (31,324) 2,056.290 60.776,101 0131/11 56 (122,340) 1,991,532 51,771.571 54 (93,443) 2,045.433 60,392,923 52 (31,324) 2,127,164 62,371,941 6/30/14 57 (122,340) 2,057,005 60,706,243 55 (93,443) 2,113,752 62,413,233 53 (31,324) 2,200,518 65,041,115 12/31/14 53 (122,340) 2,124,719 6?,703,6?2 56 (93,443) 2,184,463 64,504,253 54 (31,324) 2,276,440 67,236,250 6/30/IS 59 (122,340) 2.,194.102 64,781,034 57 (93.443) 2,257,649 66,663,464 55 (31,324) 2,355,019 69,609,945 12/31/IS 60 (122,340) 2,167,333 66,926,033 53 (93,443) 2,333.,96 68,903,413 56 (31,.324) 2,436,343 72.014,969 6/30/16 61 (122.340) 2.342,413 69.146.156 59 (93,443) 2.411.795 71.226,770 57 (31,324) 2.520.524 74,504.169 12/31/16 62 (122,.40) 2,420,115 71.443,932 60 (93,443) 2,492,937 73,626,264 53 (31,.324) 2,607,646 77,030,491 6/30/17 63 (122.340) 2.500.531 73.822,130 61 (93,443) 2,576,919 76.109.740 59 (11,324) 2,697,817 79,746,934 1312/117 64 (122.340) 2.53).775 76.213,565 62 (93,443) 2.663,841 78,680,138 60 (31.324) 2,791,144 32,506,304 6/30/13 65 (122,3140) 2,669,925 78,8311,150 61 (91,443) 2,753.305 1,.340,500 61 (31,324) 2,317,738 35,363,213 12/31/13 66 (122,140) 2,759,090 31,467,901 64 (93.443) 29,46.917 34,093,975 62 (31,324) 2,937,713 13,.19,607 6/30/19 67 (12,.340) 2,351,377 34,196,937 65 (93.443) 2,943,239 36,943,8321 63 (3,1324) 3,091,186 91,379.469 12/31/19 63 (122,340) 2,946,393 37,021,491 66 (93,443) 3.043,034 39,193,412 64 (31,.324) 3,193,231 94.546.427 6/30/?0 69 (1223.40 3.,045,752 9,944.903 67 (93.443) 3,146,269 92,946.233 65 (31,324) 3.109,125 97,824,227 12/11/20 70 (122,340) 3,143.072 92,970,636 63 (93.443) 3,253.,118 96,105,914 66 (31,324) 3,423,343 101,216,751 6/30/21 69 (93,443) 3,363.707 99,376,171 67 (31,324) 3,542,536 104,73l.014 12/11/21 70 (93.44.1) 3.473.166 102.760,399 63 (31.324) 3,665.430 10.3062,170 6/30/22 69 (31.324) 3.792.676 112.12.,522 6/30/21 70 (31.324) 3.924.323 116,016,520 12/31/22 I

Grand omal3 Cannubmiin [nteres I-Ub (247.107) 4.441.130 131.104.150 (247.107) 4,588.645 135,445,633 (247,107) 4.740,599 139,939,111 (247,107) 4,897,371 144.539,946 (247,107) 5,060,643 149,403.,47 (247.107) 5,229.122 154,315.503 (247,107) 5,403,493 159,541,319 (247.107) 5.53.3966 164.871.741 (247.107) 5.770.756 170.402,393 (247,107) 5,964,084 176,119,375 (247,107) 6,164,178 132,036,447 (247,107) 6,371,276 133.160.616 (247.107) 6,585,622 194,49,131 (247,107) 6,807,470 201.059,494 (247.107) 7.037.032 207.49,470 (247,107) 7.274,731 214,377,094 (247,107) 7,520,693 222,150,636 (247.107) 7,775,274 229.678,854 (247,107)

,.033.760 237,470,507 (247,107) 8.311,468 245.534.363 (247.107)

,593.,720 253.191.403 (247.107) 83,35,352 262.520.227 (247,107) 9,133,201 271,461.32'9 (247.107) 9.SOI,147 230,715..39 (247,107) 9,325,031 290.191.101 (124,767) 6,906,293 204.104,191 (124,767) 7,143,647 211,123*069

(.11,324)" 3,792.676 It,.1.522 (31.324) 3.924.323 116.016.520 P.ip I I

DWP PALO VERDE UNIT 1 FUNDING PLAN 100%

[

_.l I

COMTTED FLOOR -CTUAL 90%

80%

70%

S50%

4079..

2000 FUNDING STATUS

$AMOUNT PERCENT COMMITTED 13,348 43%

20%

ACTUAL

.23,476 74%

1 FLOOR 10,679 34%

,00%0 21 201-F1 I

f007 7nnn 2003l 200 2009 2012 2015 2018 2021 2024 Ycar Pagc 12

DEPARTMENT OF WATER & POWER 1999 PALO VERDE UNIT 1 FUNDING STATUS TERMINATION COST FUNDING (In Thousand S) o 1"i (i)

(2)

(3)

Authorized Funding Plan (2) X (3)

DEC 1991 3,261 DEC 199?

4,330 DEC 1993 5.513 DEC 1994 6,780 DEC 1995 6,934 DEC 1996 3.359 DEC 1997 9.627 DEC 1993 11,759 DEC 1999 13.348 r DEC 2000 15,067 DEC 2001 16,924 DEC 2002 18.929 DEC 200) 21,093 DEC 2004 23,425 DEC 2005 25.938 DEC 2006 23.643 DEC 2007 31,555 DEC 2001 34,686 DEC 2009 37,507 DEC 2010 41,095 DEC 2011 44,947 DEC 2012 49,032 DEC 2013 53,519 DEC 2014 57.532 DEC 2015 62.647 DEC 2016 63,074 DEC 2017 73.887 DEC 2018 79,267 DEC 2019 85,837 DEC 2020 92.971 DEC 2021 97,619 DEC 2022 102,500 DEC 2023 107.625 DEC 2024 113,006 DEC 2025 113.657 15,677 25,832 27,124 23,430 25,682 26,966 23,314 31,782 33.371 35,040 36.792 38.361 40,563 42.591 44.720 46.956 49,304 51,770 54,353 57,076 59,930 62,926 66.072 69,376 72.845 76.437 30,312 34,327 38,543 92.971 97,619 102,500 107,625 113,006 118,657 21%

17%

20%

24%

27%

31%

34%

37%

40%

43%

46%

49%

52%

55%

51%

61%

64%

67%

69%

72%

75%

73%

31%

83%

86%

39%

92%

94%

97%

100%

100, 10%,

100%

(4)

(5)

(6)

Funding Floor Curve Crim Pet Amoun (3) X (4)

(I) X (4) 80%

80%

0%

30%

80%

30%

80%

30%

80%

81%

22%

33%

34%

35%

86%

87%

88%

39%

90%

91%

92%

93%

94%

95%

96%

97%

98%

99%

100%

17%

2.609 13%

3,464 16%

4.410 19%

5,424 22%

5,547 25%

6.688 27%

7,702 30%

9,407 32%

10,679 34%

12,054 37%

13,539 39%

15,143 42%

16,374 44%

18,740 47%

21.010 50%

2).483 53%

26,190 56%

29.136 59%

31,331 62%

35.341 65%

39.104 69%

43,193 72%

47.632 75%

51.924 73%

57.008 832%

62,628 36%

69,71S 88%

74,511 92%

81.593 96%

39.52 97%

94,691 98%

100,450 99%

106.549 100%

113,006 100%

112.657 (7)

(3)

(9)

Actual Punding Fund Fit Cotu W(7) 31,426 15,677 4,306 25.,32 5,362 27,124 6,206 23,410 9,061

'5,632 12,921 26,966 16.923 21,314 21,150 31.782 23,476 33,371 26,094 35,040 21%

17%

20%

22%

35%

43%

60%

69%

70%

74%1

DWP PALO VERDE UNIT 2 FUNDING PLAN 100%

I i+/-..

.I.

I J

1TTED --*-FLOOR --

ACTUAL 90%

80%

---70%

60%

U/

50%

u 40%

2000 FUNDING STATUS 30%

$AMOUNT PERCENT SCO M M ITTED 15,492 42%

ACTUAL 26,269 71%

10%

FL06R 12,393 34%

1991 1994 1997 2000 2003 2006 2009 2012 2015 2018 2021 2024 Year I'.'p. I I I

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

Mnnih YXm DEC 1991 DEC 1992 DEC 199)

DEC 1994 DEC 1995 DEC 1996 DEC 1997 DEC 1993 DEC 1999

-DEC 2000 DEC 2001 DEC 2002 DEC 200)

DEC 2004 DEC 2005 DEC 2006 DEC 2007 DEC 2001 DEC 2009 DEC 2010 DEC 2011 DEC 2012 DFC 2013 DEC 2014 DEC 2015 DEC 2016 DEC 2017 DEC 2013 DEC 2019 DEC 20-20 DEC 2021 DEC 202?

DEC 2023 DEC 2024 DEC 2025 DEC 2.06 (i)

(2)

(3)

(4)

(5)

(6)

Auchoroped Fundinr P12n Funding Floor Curve Eund Fu Cnc%

Fdd Cu c

IL Amnum (2) X (3)

(3)

X (4)

(1) X (4) 3,055 15,542 4,104 25,418 5.237 26,639 6.449 23.02) 6.9)1 26,653 3.,97 27,991 9,699 29,390 12,044 33,456 13,700 35,129 15,492 36,355 17,421 31,730 19.520 40,616 21,777 42.699 24,210 44.134 26.363 47.076 29.164 49,430 32,179 51.901 35.423 54,496 31.33 57.221 42,051 60,032 46.05) 63.036 50.343 66,241 54,251 69.553 59.155 7),0)0 64,413 76,682 69.244 B0.516 75.,242 4,542 31,667 13.769 33.547 93,207 9),953 97.86c 102,761 102,761 107.99 107.199 113.,94 11),294 111,959 118.959 124.907 124,907 I31.112+

I11.152.

20%

16%

20%

23%

26%

30%

3)%

36%

39%6 42%

45%

41%

51%

54%

56%

59%

62%

65%

67%

70%

73%

76%

73%

11%

34%

16%

39%

92%

95%

96%

100%

10%

30%

10%

40%

10%

90%

30%

10%

90%

S0%

90%

91%

32%

83%

34%

35%

96%

O7%

33%

39%

90%

91%

92%

93%

94%

95%

96%

97%

99%

100%

16%

2,444 13%

3.293 16%

4,190 13%

5.159 21%

5.545 24%

6.711 26%

7.759 29%

9,635 31%

10.960

)4%

12.393 36%

13.943 33%

15.616 41%

17.421 43%

19,368 45%

21.090 41%

23.622 51%

26,337 54%

29.401 56%

32.204 60%

35.749 63%

39.606 66%

43.799 69%

47,741 72%

52,64g 76%

57.971 71%

63,012 12%

69.223 36%

75.951 39%

13.234 91%

39,255 96%

93,650 97%

104.66?

91%

1I1.02*

99%

117.769 100%

124,907 100%

131.152 (7)

(3)

(9)

Actual Funding (7)1(3) 3,220 15.542 21%

4,113 25,411 16%

5.222 26,619 20%

5,942 21,023 21%

3.602 26,653 32%

12,434 27.991 44%

16.762 29,390 57%

21.717 33.456 65%

23,923 35,129 68%

26.269 36.865 71%1 g

DWP PALO VERDE UNIT 3 FUNDING PLAN COML.LLII... ;rLOOR L-J A CTUAL]

S.... - '4]

1:-4;7-I;-4

[.-F '1-1i--;

100%

90%

80%

70%

60%

50%

40%

30%

20%

10%

0%

1997 2000 2003 2006 2009 2012 2015 2018 2021 2024 2027 Year P.sgr 16

--I---

- I-I - -I -I IL.

4..

C U

U U

1991 1994 i

I

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

Mnuth Yc DEC 1991 DEC 1992 DEC 1993 DEC 1994 DEC 1995 DEC 1996 DEC 1997 DEC 1991 DEC 1999 rDEC 2000 DEC 2001 DEC 2002 DEC 2003 DEC 2004 DEC 2005 DEC 2006 DEC 2007 DEC 2003 DEC 2009 DEC 2010 DEC 2021 DEC 2012 DEC 2013 DEC 2014 DEC 2015 DEC 2026 DEC 2017 DEC 2012 DEC 2019 DEC 2020 DEC 2021 DEC 2022 DIC 2023 DEC 2024 DEC 2025 DEC 20?6

)EC 20-7 (2)

(2)

(3)

Authorized Funding Plan Euand Fa u % Fundd (2) X (3) 2.452 17.248 3,452 27.160 4.636 28.511 5,905 29.944 6,923 30,200 1.217 31,605 9.956 33,115 21,171 35.973 13.591 37,772 15,467 39,660 17.490 41.643 19.676 43.725 22,033 45,912 24,536 48,207 27.334 50.618 29.763 53,149 32,925 55,106 36,330 53,596 39,992 61,526 43.254 64.602 47,483 67,83?

51,994 71,224 56,337 74,735 61,249 78,525 66,785 32,451 72,722 16,573 73.176 90,902 14.941 95,447 92,202 100,219 99,969 105.230 103,232 110.492 116,017 116.017 12*.127 222,R17 127.909 127.903 134.)04 134.304 141.019 141.019 141,070 143,070 14%

13%

16%

20%

23%

26%

30%

33%

36%

39%

42%

45%

43%

51%

54%

56%

59%

62%

65%

67%

70%

73%

76%

73%

31%

84%

86%

39%

92%

95%

93%

100%

200%

100%

200%

(4)

(5)

(6)

Funding Floor Curve Cu it ctim S AmnUm (3) X (4)

(1) X (4) 80%

10%

30%

10%

30%

11%

32%

83%

$4%

85%

16%

17%

33%

139%

90%

91%

92%

93%

94%

95%

96%

97%

93%

99%

t00'X.

11%

1,962 10%

2,762 13%

3.709 16%

4,724 13%

5,531 21%

6,574 24%

7.964 26%

9.497 29%

10.178 31%

12,374 34%

13,992 36%

15,741 33%

17.630 41%

19.669 43%

21.167 45%

23,311 47%

26.340 50%

29,427 53%

32,793 56%

35,925 59%

39,835 62%

44,195 65%

43,380 61%

53.237 71%

53.771 75%

64,722 77%

70,358 81%

77.303 85%

34.826 38%

92,971 92%

101,785 95%

110.216 96%

116,945 97%

124.071 98%

131.611 99%

139,609 I100 148,070 (7)

(3 (9)

Actual Funding Eund EmCm

Emn, (7)/(13) 2,540 17,243 15%

3,438 27,160 13%

4.542 23.521 16%

5,356 29.944 18%

311.1 30,200 27%

12.332 31,605 39%

16.14) 33,115 51%

21,131 35,973 61%

23.32 37,772 63%

26.233 39.660.

66%1

DWP PALO VERDE ALL UNITS FUNDING PLAN

.1_J..J F

L.

O RL L A

ULL__.

I.-

COMMITTED -U-FLOOR ACTUAL 100%

90%

80%

70%

60%

50%

40%

30%

20%

10%

0%

1991 1994 1997 2000 2003 2006 2009 2012 2015 2018 2021 Year P'agc IIs U

114 U

U 4,

0..

I

l.I 2024 2027

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

Linnih Y=~

DEC 1991 DEC 1992 DEC 1993 DEC 1994 DEC 1995 DEC 1996 DEC 1997 DEC 1993 DEC 1999 DEC 2000 DEC 2001 DEC 2002 DEC 2003 DEC 2O04 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 (2)

(2)

(3)

Authorized Fund!ng Phn (2) X (3) 8,761 48,467 21.386 78,410 15,386 32,331 19,.134 86,447 20,783 12,440 24,974 86,562 29,231 90,390 35.675 101.211 40,646 106,272 46.026 121,585 51.243 117.164 53,125 123,023 64,907 129.174 72,221 15S,632 79,634 142.414 37.570 149,535 96,659 157,011 106,432 164.862 115.837 173.105 126,436 111,760 13,4833 190.848 1512419 200,.391 164.607 210,410 177,986 220.931 193.344 231.977 210.039 243,576 227.304 255,755 245,383 263,543 266,636 281.970 286,892 296,069 303,662 310,372 326.416 326.416 342,736 342,736 359.873 359.873 377.367 377,67 272.171 272.171 148.070 148.070 11%

15%

19%

22%

25%

29%

32%

35%

38%

41%

44%

47%

50%

53%

56%

59%

6M%

65%

67%

70%

73%

76%

73%

31%

84%

16%

19%

92%

95%

97%

99%

100%

200%

100%

(4)

(5)

(6)

Funding Floor Curve c l erm SAmaunt (3) X(4)

(1)X(4) o0%

30%

80%

o0%

30%

80%

30%

32%

82%

83%

84%

35%

86%

37%

33%

39%

90%

92%

'3%

94%

95%

96%

97%

93%

99%

100%

800%

100%

14%

7,014 12%

9.509 15%

12,309 18%

15,307 20%

16.631 23%

19,979 26%

23.42S 23%

23,540 31%

32,517 33%

36.832 35%

41,474 38%

46,500 40%

51.926 43%

57.777 45%

63.707 47%

70.932 50%

79.2W0 54%

88,.343 56%

97.303 59%

107.470 62%

119,095 66%

213,734 69%

144.154 72%

153,407 75%

174.460 71%

1912135 82%

209,120 I5%

2213671 89%

250.633 92%

272,543 95%

296,.316 97%

316.623 93%

335.382 "99% 356.274 100%

377,367 100%

272,171 100%

143,070 (7)

(8)

(

Actual Funding Eund

£a Cna % unecW (7)1(8) 9,136 48,467 19%

11,362 78,410 15%

15.126 82,331 11%

17,504 86.447 20%

25.844 32,440 31%

37,694 36,562 44%

50,533 90.390 56%

65,.398 101.211 65%

71,236 106,272 67%

78,.596 111,515 70%1 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.

P.I 31/101 A

to 6 7 Psrt On ExWI

This Amendment No. 5, dated as of June

2000, to the Amended and Restated Decommissioning Trust Agreement (PVNGS Unit 2), dated as of January 31, 1992, as amended by Amendment No. I thereto dated as of November 1, 1992, Amendment No. 2 thereto dated as of November 1,. 1994, Amendment No. 3 thereto dated as of June 20, 1996, and Amendment No. 4 thereto dated as of December 16, 1996 (the wDecommissioning.Trust Agreement"; terms used herein as therein defined), is entered into between Arizona Public Service Company ("APS"), State Street Bank and Trust Company, as successor to The First National Bank of Boston, as Owner Trustee and as Lessor, and Mellon Bank MA, as Decommissioning Trusteef(Deconmnissioin8 Trustee').

EC:IIALS:.

WHEREAS, the parties hereto wish to amend the investment parameters for the Decommissioning Trust Fund and the Second Fund contained in Exhbit B to the Decommissioning Trust Agreement;

SNOW, 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:

S~A*EEMENI*:

SECTION 1. Amendment.

Paragraph 0) ofExhibit B to the Decommissioning Trust Agreement is hereby deleted and is replaced in its entirety by the following:

(1)

(x) corporate equity securities, including, but not limited to, investment in units of common or collective trust fimds investing in corporate equity securities; 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 granted 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 more than fifty percent (50%) of the aggregate assets of the Funds may be invested in securities described in (x) and (y) of this subparagraph (0 during thel period from June 27, 1996 through December 31, 2003, no more'than thirty"percent (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.

I

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. Mtsellaneous (a)

Full Force and E.

Except as expressly provided herein, the Decommissioning. Trust Agreement shall remain unchanged and in ful force and effect Each referce in the Decommissioning Trust Agreement and in any exhibit 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)

Counterparts.

This Amendment No. 5 may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument, 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 Arizona.

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 SERVICE COMPANY Title________________

MELLON BANK N.A, as Decommissioning Trustee Tite 146eip c3.

CATEMP~BAP6353.dac 07/18/00 09:57 FPA 317 17 2000 14:43 FR B< OF AEICA 415 765 7373 TO g6250564G P. 2 /2 MEL.ON BANK N-A, as Deco mmisi~ng Trustaee Tide STATE STREET BANK AND TRUST COMPANY, as Owner Trustee imad a Trust Agremmt with Secrity Pacific Capital Tecig Corpora-on and as Le=o imd-a Facility Lease with Axizona Public Ser4ce Company J.l "l()le

()ASSISTANT VICE PRESIDENT STATE STREUT BANK AND TRUST COMPANY, as Owner Truste nder a Trust Agreement with Exn==r Finance Co. and As Lessor under a Facility Lease with Arizona Public Service Compamy By, EPS N

Th~e ASSiS1ANT VICE PRESIDENT *V EL-ýSECURM,\\DEMAMM-d-

STATE OF ARIZONA County of Maricopa

)

).

l The foregoing instrument was acknowledged before me this

day of b*<,&,Q*

. 2000, b 4yf"At 6M A

t T-,

y-g of ARIZONA PUBLIC SERVICE COMPANY, an Arizona corporation, on behalf of said corporation.,

MARJCOFPA COUKR MY Ctw-- E.qCn Am 20. 2003 STATE OF /,

County of

) )ss.

)

,,F The foregoing instrument was acknowledged before me this /._.day of 0,e.

2000, by 6

.ir.

o#

-: a Trust Officer of MELLON BANK, NA, a corporation having trust powers, as Decommissioning Trustee. on behalf of said corporation.

My commission expires:

Loo No ta¢ SeOW

/..---

ki.* Wal Cujnt My CornniscnE*ds No.18 C:\\ATEMFBAP6353.dac *7 1'ý 0

ubi

07/18/00 09:58 FAX IZ 00?

AL. 1? 2000 L4:43 FR BANK< CF AMMCA 41S 765 7373 MO 9j~e250540

.0,0 STATE OF S~E T

)%94 usr' County of S~xfoLx-The f~eoi fins frum was wcmowledged before m~e this 'Thk day of

________2000mby 1.n Core-~I.

the ASl-*

V Uif-

?Ss)J,-

of STATE STREET BANK AND TRUST COMPANY, a MassachusettS t~ut comp=nY, in fts c2pacity as owner Tnistee under a Trust Agmcnmt widh Secmity PacifiL Capital Ie=Sing Ciorpomnio nd as Lmaor under a Facility Lease with A&=n Public Service pan)y, on behalf of said association in such capacities MY commmsion cxpin=s jAMF-S M. Co2%Y s(

Nctary Pulbl Co~mty of S IA ffL-D L)

TM= foregoing instntmecit was ackmowledged belore me Whs I U day of V_ 2000. by

-X Cwy 4L

.thek4nhwr+ Vice Torys~dhI-Of STATE STREET BANK AND TRUJST COMPANY, a Massachuset tsrust company, in its capacity as Owner Trustee uinder a Trust Agmemeoit with Emenon Finance Co., andi as Lessor under a Facility Lease with Arizona Public Service Company, on behalf of sgid asso~iaiia in such capacities Notary Pubzl&

my commission expires:

Notary PtFý,

MYCOnrMMkIEG-

~

J~"i9~.

TOTL Ppjo.07 *1

I. DltedperAPS Letter1o2-04823, datedAu t 1, 2002 Enclosure Application Req e tinq Information be dlic Disclosure Withheld FR

DeletedperAPS Letter l12-04823, datedAugust1, 20a2 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 in Units 1, 2 a 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 public di 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 t e that is customarily held in confidence b PSa there is a rational basis for doing so because the in m 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.

Defetedper APS Letter 102-04823, datedAugust I, 20a2 Arizona Public Service Company OF ARIZONA MARICOPA SubscN State above n, and swom to me, a Notary Public, in and for

,d, this I..q day of March, 2001.

/

My

1573394 and

ML022250301

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