Text

Letter G. Overbeck, APS, to NRC Document Control Desk, Palo Verde Nuclear...Re-Submittal of Decommissioning Funding Status
	ML022270702
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, FOIA/PA-2002-0268
	Download: ML022270702 (175)
	v • d • e

10 CFR 50.75(f)(1)

Gregg R. Ovarbec%

Mail Station 7602 Palo Verde Nuclear Senior Vice Presid-nt Tk".L (623) 393-5148 P 0 Box 52034 Generating Station Nuclear FAX (623) 393-6077 Phoenix, AZ 85072-2034 102-04823 - GROITNW/DWG August 1, 2002 U. S. Nuclear Regulatory Commission ATTN: Document Control Desk Mail Station P1-37 Washington, DC 20555

Dear Sirs:

Reference:

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

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

Subject:

Palo Verde Nuclear Generating Station (PVNGS)

Units 1, 2, and 3 Docket Nos. STN 50-528/5291530 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 Thom as N. W eber at (623) 393-5764.

Sin er.y Sincerely,

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

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

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

[Region IV]

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

[NRR Project Manager]

[PVNGS]

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

James M. Levine TEL (602)393-5300 Mail Station 7602 Palo Verde Nuclear Senior Vice President FAX (602)393-6077 P 0. Box 52034 Generating Station Nuclear Phoenix. AZ 85072-2034 102-04266-JMUSAB/RKB March 30, 1999 10 CFR 50.75(0(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 50-52815291530 Status of Decommissioning Funding In accordance with the requirements of 10 CFR 50.75(f)(1), Arizona Public Service Company (APS) is submitting the status of the decommissioning funding for PVNGS Units 1, 2, and 3 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.

1ppert ef thei fuet that this infaRmatien be w~ithheld fredm publicust,20 I praunt c 0 CR 27~Ob)1),iz rovd~

En~z~rz.

e~tedperPS Letter102-O4823, da tedAugus t 1, 2ow2

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

This letter does not make any commitments to the NRC.

Sincerely, JML/SABIRKB/rlh : 1998 Decommissioning Funding Status Report for Palo Verde Nuclear Generating Station Units 1, 2 & 3 EAc,.OU.,

2: Affid2,"it of James M. L"'in, Requesting 8f...ti.n Bc W.thh.ld DetedperAPS Letter102-04823, datedAugust 1, 2002 cc:

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

R. S. Wood w/attachments wlo attachments w/attachments wlo attachments w/attachments I

F; A AR i I

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

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

OVERVIEW This Decommissioning Funding Status Report is being submitted pursuant to 10 CFR 50.75(0(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):

PVNGS Unit Total Decommissioning Basic Radiological Cost Estimate Decommissioning Unit 1

$557.6

$424.5 Unit 2

$586.9

$454.7 Unit 3

$631.1

$485.7 Each Participant is entitled to exercise its own judgment regarding additional contingency factors and scope of work beyond the scope of work assumed in TLG's site specific study. In addition, assumptions regarding decommissioning cost escalation and trust 50-75j1999 doc 03124199 2

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

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

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

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

50-751999 doc 03124199

.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 4

03124/99

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, Tabi. The EPE Decommissioning Trust Agreements (Unit 1; Unit 2; and Unit 3) amended and restated as of February 12, 1996 are provided at Appendix C, Tab 2. The SCE Master Trust Agreement amended and restated as of December 27, 1997 is provided at Appendix C, Tab 3. The PNM Master Decommissioning Trust Agreement amended and restated as of March 15, 1996 is provided at Appendix C, Tab 4. The SCPPA Decommissioning Trust Fund Agreement I and Agreement II amended and restated as of October 27, 1992 are provided at Appendix C, Tab 5. The LADWP Decommissioning Trust Fund Agreement I and Agreement II amended and restated as of February 20, 1991 are provided at Appendix C, Tab 6.

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

50-751999 doc 03124/99 5

Participant Trustee(s)

Investment Manager(s)

APS Mellon Bank, N.A.

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

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

Stanford C. Bernstein & Co.,

Inc.

PNM Mellon Bank, N.A.

T. Rowe Price and Associates, Inc.

Strong Capital Management Inc.

SCPPA US Bank Trust, N.A.

None.

LADWP US Bank Trust, N.A.

None.

50-751999 doc 6

03/24199

Deketed per APS Letter 102-04823, datedAuglst 1, 2002 PaVFIDENTIAd NFOuRceATIN

-1n S

R 2.79t0 Palo Verde Nuclear Generating Station Appendix A, Tab I Unit 1

($M)

Participants Total (1)

Site Specific Esimate 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 %

1580%

15.80 %

10.20 %

5.91 %

5.70 %

TOTAL 100.00 %

NRC (1)

Basic Radiological EsbmalL 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 "trust (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 Cgnfdkullgas 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 5011R"".ti19f Years To End Of Operating License (1 2/31/2024) 26 26 26 26 26 26 26

DeletedperAPS Letter 102-04823, datedAugust 1, 2002 Palo Verde Nuclear Generating Station Appendix A, Tab 2 Unit 2

($M)

Particiants

% Ownership Arzona 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 Estimat NRC (1)

Basis Radiological Estimatg 170.80 102.66 132.31 79.53 92.74 71.84 92.74 71.84 59.87 46.38 34.69 26.87 33.46 25.92 586.95 Total Nuclear Decommissioning T*st (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 PJH 3r14M9g SCktS epaMtt1tNjd, Years To End Of Operating (12/9/2025) 27 27 27 27 27 27 27

Deleted per APS Letter 102-01823, datedfAugust 1, 2002 CONFIDE=4133A' l19Jr-FFARA TIOH In r4n 1

7ýIf Palo Verde Nuclear Generating Statibn Unit 3

($M)

Earticipants

% Ownership 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 Estimate 18365 110.38 NRC (1)

Basic Radiological Estimate 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 (As of 12/31198) 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)

Years Year 1998 To End Of CDn.tribu n*i Operating (3/25/2027) 3.57 29 1.70 29 1.57 29 9.82 29 0 (10) 29 2.47 29 3.93 29 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 Vf24JW 6o57kRaOpmQ9 w

Appendix A, Tab 3

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)

PA4 312099 S

OPO?5epw.19 ASt Pi" 3n2*tM

ARIZONA PUBLIC SERVICE COMPANY ANNUAL FUNDING STATUS REPORT FOR THE YEAR ENDING DECEMBER 31, 1998 EXHIBIT E Assumptions t4sed by APS in Decommissioning Funding Tables and Curves*

Decommissioning Costs Funding Curve is based on Official 1995 TLG Study Costs Escalation Factor and Future Value of Decommissioning Costs Escalation factor of 5 00% Annually After Tax Rate of Return For Assets In Trust Annual Rate of Return is 6 75%

Contribution Assumptions:

All contributons made quarterly W EXCELV"O(Ci sAft

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

100%

80%

S60%

IL 40%

20%

0%

1 1

1 2

2 2

9 9

9 0

0 0

00 0

0 0

0 9

9 9

0 0

0 1

1 1

2 2

2 3

3 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 E-F-Funded Curve -x-Funded Floor

Actuali FR"AqAE W £ECf*MtAPSRWIA*fOFITE 22Mg o

I Based on 1995 Cost Study Rate of Return 6 750 Escalation Factor 5 000% I ARIZONA PUBLIC SERVICE COMPANY NUCLEAR DECOMMISSIONING FUNDING REQUIREMENT UNIT ONE Fundina Plan no oo Est Cost

% Funded Year 1991 1992 1 !Y13 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037

% Band

%L Floor Fund $

8.358,799 11.132.220 16.329.125 21,885.801 27.827.153 30.081,526 36.066.854 42.454.085 49.294.247 56.611.884 64.415.053 72.783.212 81.710,917 91.268.072 101.469.878 112.396.417 124.067.749 136.575.775 149.920.593 164,203,937 179.454.950 195.760.450 213.216.308 231,895.218 251,839.399 273,161.732 295,948,345 320.370,987 346,411.450 374,299.432 404,110.184 435.966,262 470.049.073 506.396.279 540,307.385 540.865.435 504.008.813 426.821.193 345,911.258 256,996.563 157,138.814 107.818.151 91,957.867 70,605,386 37,556.837 13.067.526 10.526.082 122.538,465 128,855.388 135,098,658 141,853,590 148,946.270 137,672.888 144.556,530 151.784.356 159.373,574 167.342.253 175.709.368 184,494.834 193.719,578 203,405.554 213.575.832 224.254.624 235,467.355 247.240,723 259.602.759 272.582,897 286.212.042 300,522.644 315.548.778 331,326.215 347.892,525 365.287.152 383.551.509 402,729,085 422,865,539 444.008,816 466,209.257 489.519.720 513.995.706 539.695,491 566.597,510 559.812,452 517.409.725 434.777,624 349.793.971 258,469,841 157,138.814 107.818.151 91.957.867 70,605,388 37.556.837 13.087.526 10,528,082 r'

Actual Funding Data

$ Floor

$ In Fund Est Cost

% Funded 682%

8 65%

1209%

15 43%

18 68%

21 85%

24 95%

27 97%

3093%

3383%

3666%

3945%

42.18%

4487%

47.51%

50 12%

52 69%

55 24%

57.75%

6024%

62.70%

65.14%

67.57%

6999%

72 39%

7478%

77 16%

7955%

81 92%

84 30%

86 68%

89 06%

91 45%

93.83%

9536%

96 65%

97 41%

98 17%

98 89%

99.43%

100t00%

10000%

100 00%

10000%

100 00%

10000%

8.531.336 11.159.328 14.474.516 17.781.769 24.469.181 30.491,630 39.491.919 49,972.041 122.538.465 128,655.388 135.098,658 141,853.590 148.946.270 137.672.886 144.556,530 151.784.356 696%

8 67%

10.71%

12.54%

16 43%

22.15%

27.32%

3292%

FKELANE W EXCftOjECO~wAF3SRIfE XATE 2flM 80%

80%

81%

82%

83%

84%

85%

86%

87%

88%

89%

90%

91%

92%

93%

94%

95%

96%

97%

98%

99%

100%

5 46%

692%

9 67%

1234%

1495%

1748%

1996%

22 38%

24 75%

2706%

29 33%

31 56%

33 74%

3589%

38 49%

41.10%

43 74%

46 40%

4909%

51.80%

54 55%

57 33%

6014%

6299%

65 87%

68 80%

71.76%

74.77%

77 83%

80 93%

84 08%

87.28%

9054%

93 83%

95 36%

96 65%

9741%

98.17%

98 89%

99 43%

10000%

100 00%

10000%

6.687,023 8,905,776 13.063,300 17.508,641 22.261.723 24,065,220 28,853,483 33.963.268 39.444.960 45.289,507 51.532.043 58,226,570 65,368,734 73.002.253 e2.205.338 92.165,062 102.993.421 114.723,651 127.432.504 141,197.941 156.125,807 172.289.632 189.762,514 208.705,696 229.173,853 251.308,793 275.231,960 301.120.537 329.118,249 359.327.455 391.988.878 427.246,937 465.348,582 506.396,279 540.307,385 540.865,435 504.008.813 426.821.193 345.911,258 256,996,563 157.138.814 107,818,151 91.957.867 70,605.386 37,556.837 13,067.526 10.526.082 SRand IV. I:'l.-m,,.

ARIZONA PUBLIC SERVI6E COMPANY NUCLEAR DECOMMISSIONINO FUNDING REQUIREMENT UNIT ONE Based on 1995 Cost Study Rate of Retur 6.7500% Annual Period Rate of Return I 6875% Quarter Period Rate of Return 5 0000% Annual Eslalacdlon First Quarter Second Quarter Third Quarter Fourth Quarter Conltrib Corntrit Contrib Contrib Quarler Earnings Quarter Earnings Quarler Earnings Quarter Earnings ANNUAL Year Contrib Earnings to Date Contrib Earnings to Dale Contrib Earnings to Dale Contrib Earnings to Date CONTRIBS 1995 25,200,879 3,801.365 1996 949,238 425,265 26.575.381 949.238 448,460 27.973,079 949.238 472.046 29,394,362 949.238 496.030 30,839,629 3.790,950 1997 949.238 520.419 32.309.288 949.238 545,219 33.803,742 949,238 570,438 35.323,418 949.238 596.083 36,868.738 3.796,950 1998 949.238 622.160 38.440,136 949,238 648,677 40,038,051 949.238 675.642 41.662.930 949.238 703,062 43.315.230 3,796.950 1999 949.238 730,945 44.995.412 949.238 759,298 46,703.947 949,238 788.129 48.441,314 949,238 817.447 50,207.999 3.796.950 2000 949.238 847.260 52.004,496 949,238 877,576 53,831.310 949,238 908.403 55.688.951 949'238 939,751 57.577.939 3.796.950 2001 949,238 971.628 59.498.804 949.238 1.004.042 61,452.084 949.238 1,037.004 63,438,328 949.238 1.070.522 65,458.085 3.796.950 2002 949,238 1.104.605 67.511,928 949.238 1.139.264 69.600.429 949.238 1,174,507 71.724,174 949.238 1.210,345 73,883.757 3.796.950 2003 949,238 1.246.788 76,079.783 949.238 1.283,846 78,312,867 949.238 1.321.530 80,583.634 949,238 1.359.849 82.892.721 3.796,950 2004 949,238 1,398.815 85,240,773 949.238 1.438.438 87.628,448 949,238 1.478,730 90.056,416 949.238 1.519.702 92,525.356 3,796.950 2005 949.238 1.561,365 95.035,959 949.238 1,603.732 97.588,928 949,238 1.646.813 100.184,979 949.238 1.690.622 102.824.838 3,796.950 2006 949.238 1,735.169 105,509.245 949.238 1,780,469 108,238.951 949,238 1.826,532 111,014,721 949.238 1.873.373 113,837.332 3.796,950 2007 949.238 1.921,005 116,707,574 949,238 1,969,440 119,626,252 949.238 2.018,693 122,594,183 949.238 2.068,777 125,612,197 3.796,950 2008 949,238 2,119.706 128,681,140 949,238 2.171.494 131.801.872 949,238 2,224.157 134,975.268 949.238 2.277.708 138,202.211 3.796,950 2009 949.238 2.332.162 141,483.611 949.238 2.387.536 144,820.285 949.238 2,443,844 148,213.466 949.238 2.501.102 151.663.806 3,796.950 2010 949.238 2.559.327 155,172.371 949.238 2.618.534 158.740.142 949,238 2,678,740 182,368,119 949,238 2.739.962 166,057,319 3.796.950 2011 949.238 2.802,217 169,808,774 949.238 2.865,523 173,623.534 949,238 2.929,897 177.502,669 949,238 2.995.358 181,447.264 3.796.950 2012 949.238 3,061,923 185,458.424 949.238 3.129,611 189,537.273 949,238 3.198.441 193.684.952 949.238 3.268,434 197,902.623 3.796.950 2013 949.238 3.339,607 202,191.467 949.238 3.411.981 206,552.686 949,238 3,485.577 210.987.500 949,238 3.560.414 215,497.152 3.796.950 2014 949.238 3.636,514 220.082.904 949.238 3.713,899 224.746.040 949.238 3.792.589 229.457,867 949.238 3,572.608 234,309,713 3.796.950 2015 949.238 3,953.976 239,212,927 949,238 4.036.718 244.198,883 949,238 4,120.856 249,268.976 949.238 4,206.414 254.424,628 3.796,950 2016 949.238 4.293,416 259.667.281 949.238 4.381.885 264.998.404 949.238 4.471.848 270,419,490 949.238 4.563,329 275,932.056 3,796,950 2017 949.238 4.656.353 281.537.647 949.238 4,750.948 287.237,832 949.238 4,847,138 293.034.208 949.238 4.944.952 298.928,398 3.796,950 2018 949.238 5,044.417 304,922.053 949.238 5.145.560 311.016,850 949.238 5,248.409 317,214,497 949.238 5,352.995 323.516,729 3.796.950 2019 949,238 5.459.345 329,925.311 949,238 5.567.490 336.442,038 949.238 5.677,459 343.068.735 949.238 5,789.285 349,807,258 3.796.950 2020 949.238 5.902.997 356.659.493 949.238 6,018,629 363.627,359 949.238 6,136.212 370,712,809 949.238 8,255,779 377.917.825 3.796,950 2021 949,238 6.377.363 385.244.426 949.238 6.501.000 392.694,663 949,238 6.626.722 400,270,623 949,238 8,754.567 407,974.427 3.796.950 2022 949.238 6.884,568 415,808.233 949.238 7.016.764 423,774,235 949,238 7,151.190 431,874.663 949.238 7.287,885 440.111,785 3.796,950 2023 949.238 7.428,886 448.487.909 949,238 7,568,233 457.005.380 949,238 7.711.966 465.666.584 949,238 7.858,124 474,473.945 3,796,950 2024 949.238 8.006,748 483,429.930 949,238 8,157.880 492.537.048 949.238 8.311.563 501.797.848 870,423 8.467.839 511,136.109 3.796.950 2025 0

a 0

0 0

(33.633,270) 34,501.687 512,004.527 0

2026 0

0 0

(66,841,285) 34,560,306 479,723.547 0

2027 0

0 0

(103.335.798) 32.381.339 408.769.089 0

2028 0

0 0

(101,640.508) 27.591.914 334.720.494 0

2029 0

0 0

(103.632.218) 22.593,633 253,681.910 0

2030 0

0 0

(108.813,828) 17,123.529 161.991.611 0

2031 0

0 0

(54.454.860) 10.934.434 118.471.184 0

2032 0

0 0

(20.239.230) 0 98,231,954 0

2033 0

0 0

(24,714.642) 0 73,517.312 0

2034 0

0 0

(34.836.970) 0 38,680,343 0

2035 0

0 0

(25.111.574) 0 13,568.768 0

2036 0

0 0

(3.042,686) 0 10.528,082 2037 0

0 0

(10.526,082) 0 0

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

100%

80%

a)

U 40%

20%

0%

1 1

1 2

2 2

9 9

9 0

0 0

9 9

9 0

0 0

1 1

1 2

2 2

3 3

1 3

5 7

9 1

3 5

7 9

1 3

5 7

9 1

3 5

7 9

1 3

5 7

Year I--F~unded Curve -x-Funded Fl-oor

, ActualJ fILEL"We WMI.OECOMMAPS

.O IM8t1 VIMA

ARIZONA PUBLIC SERVICE COMPANY NUCLEAR DECOMMISSIONING FUNDING REQUIREMENT UNIT TWO B3ased on 1995 Cost Study Rate of Return 6.7500%

Escalalon Factor 5 0000%I Funding Plan Funding Floor Actual Funding Data Year Fund $

Est Cost

% Funded

% Band

% Floor

$ Floor

$ In Fund Est Cost

% Funded]

1991 7.589.283 120.570.113 6 29%

80%

504%

6.071,426 7.786.931 120.570.113 6 46%

1992 10.494.062 126.598,619 829%

80%

6 63%

8.395.249 10.625.997 126.598.619 839%

1993 15.402.712 132.928.550 11 59%

80%

927%

12.322.170 14.545,580 132.928.550 1094%

1994 20,651.178 139.574,977 1480%

80%

11 84%

16.520.943 18,150.013 139,574.977 13 00%

1995 26.262.984 146.553.726 17.92%

80%

14 34%

21,010.388 25.307.510 146.553.726 1727%

1996 29.965,846 142.898.646 2097%

80%

1677%

23.964.103 31.299.677 142.898.646 21.90%

1997 35.920.433 150.043.579 23 94%

80%

19 15%

28.736.346 40.007.265 150.043.579 26 68%

1998 42.285.281 157.545,757 2684%

80%

21 47%

33,828.225 49.309.948 157.545.757 31 30%

1999 49.097.560 165,423,045 29 68%

80%

23 75%

39.287.973 2000 56.381.137 173.694.198 32 46%

80%

2597%

45.104.909 2001 64.160.900 182.378.908 35.18%

80%

28 15%

51.339.662 2002 72.501.087 191.497.853 3786%

80%

3029%

58,000.870 2003 81.394.247 201,072.746 4048%

80%

32 39%

65,127.462 2004 90.911.020 211.126.383 4306%

80%

3445%

72.728.816 2005 101.087.312 221.682.702 4560%

80%

36.48%

80.869.850 2006 111.984.125 232.766,837 48.11%

81%

3897%

90.707.141 2007 123.620.139 244,405.179 5058%

82%

41 47%

101.354.828 2008 136,062.807 256.625.438 5302%

83%

4400%

112.915.193 2009 149,359.854 269.456.710 5543%

84%

4656%

125,462.278 2010 163,589.863 282.929,545 5782%

85%

49 14%

139.031.579 2011 178,780.350 297.076.022 60.18%

86%

51.76%

153,766.549 2012 195.049.719 311.929.824 6253%

87%

5440%

169,693.255 2013 212.433.568 327,526,315 6486%

88%

5708%

186.941.540 2014 231.033.787 343.902.631 67.18%

89%

5979%

205.620.071 2015 250,890.725 361,097,762 6948%

90%

6253%

225,801.653 2016 272.155,772 379,152,650 71.78%

91%

6532%

247.661,753 2017 294.880,286 398.110.283 7407%

92%

6814%

271,209,863 2018 319,155.061 418,015.797 76.35%

93%

71 01%

296.814,207 2019 345.164.004 438.916.587 78 64%

94%

7392%

324.454.163 2020 372.929,867 460.862.416 8092%

95%

76 87%

354.283.374 2021 402.657.797 483.905.537 8321%

96%

7988%

386,551.485 2022 434.375,388 508.100.814 8549%

97%

8293%

421,344,124 2023 468.364.789 533.505.854 87.79%

98%

8603%

458,997.494 2024 504.667.195 560.181.147 9009%

99%

89.19%

499.620,523 2025 543.487.749 588.190.204 9240%

100%

92.40%

543.487.749 2026 572.991.825 610.020.042 9393%

100%

93.93%

572.991.825 2027 543,380.934 569.283.325 9545%

100%

95.45%

543,380.934 2028 490,298,670 506.925,838 98.72%

100%

90.72%

490.298.670 2029 418,686.159 429,421.702 9750%

100%

97.50%

418,686.159 2030 334.135.906 340.087.436 98.25%

100%

9825%

334.135.906 2031 247.131.950 249.729.133 9896%

100%

9896%

247.131.950 2032 152.605.585 153.464,989 9944%

100%

9944%

152.605.585 2033 105,181.376 105.181.376 10000%

100%

10000%

105.181.376 2034 78.050,522 78.050.522 10000%

100%

10000%

78,050.522 2035 38.612.705 38.612.705 10000%

100%

100 00%

38.612.705 2036 13,067.526 13.067,526 10000%

100%

10000%

13.067.526 2037 10.528.082 10.526.082 10000%

100%

10000%

10,526.082 FrIe,'LEACe w E OCEMC1MEcAF9SAftF.JjT mm.m

ARIZONA PUBLIC SERVIdi1 COMPANY NUCLEAR DECOMMISSIONING FUNDhN46 REQUIREMENT UNIT TWO Based on 1995 Cost Study Rate of Retur 7500% Annual Period Rate of Return 1 6875% Quarter Period Rate of Return 5 0000% Annual Esthlaction First Quarter Second Quarter Third Quarter Fourth Muatter Contrib Contrib Contrib Conrtb Quarter Earnings Quarter Earnings Quarter Earnings Quarter Earnings ANNUAL Year Contrib Earnings to Date Contrib Earnings to Date Contrib Earnings to Date Contrib Earnings to Date CONTRIBS 1995 26.035.170 4.068.818 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 3,750,580 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 52.887.266 937.645 892,473 54.717.384 937,645 923.356 58.578.384 937.645 954.760 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 68.365.188 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 98.554.145 937,645 1,663.101 101.154.891 937,645 1,706.989 103,799.525 3.750.580 2006 937.645 1.7M1.617 106.488.787 937.645 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 2.405.64 145.871,028 937.645 2.461.574 149.270.247 937,845 2.518.935 152.7298,27 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 3,014.085 182.584.153 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 4.678,085 282,835,568 937.645 4.772.850 288.546.061 937.645 4.869.215 294,352.921 937,645 4.967.206 300.257.772 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 5,482.528 331.310.748 937.645 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 6.402.207 388.729.916 937.645 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 7.453.629 450.087.788 937.645 7.595.231 458.620,663 937.645 7.739.224 467.297.531 937.645 7.885,648 478.120.822 3.750.580 2024 937.645 8.034.539 485.093.008 937.645 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 8.855.664 522.521.583 937.645 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) 31.199.206 395.456.876 0

2029 0

0 0

(105.528.906) 26.693.339 318.621,309 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,.995652 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 10.526.082 0

2037 0

0 0

(10.526,082) 0 0

0 FitENWME W EAXCEt/ECONeAFSRaaOxH Ie VrzIM

-'~~

-~3K.

0 hi-0 2i T

C-

~Khi:--:-h-

--a-a 0 0

&90

Arizona Public Service Decommissioning Funding Plan PV Unit #3 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 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 o Actual" FItEP#*O W EXCELMCONAFSAMEWtn13 LL 120%

100%

80%

60%

40%

20%

0%

Based on 1995 Cost Study Rate of Return 6 7500%

Escalation Facto~r 5 00w%l ARIZONA PUBLIC SERVICE COMPANY NUCLEAR DECOMMISSIONING FUNDING REQUIREMENT UNIT THREE FundIng Plan Funding Floor Actual Funding Data Yeat Fund S Est. Cosl

% Funded

% Band

% Floor S Floor S In Fund Est Cost

% Funded 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 8.006.475 127.342.404 6 29%

10.665.274 133.709.524 798%

15,618.562 140.395.000 11.12%

20,914.756 147.414.750 14 19%

26.577.594 154,W85.488 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 2840%

60.895.993 196.122.362 31.05%

69.294,933 205,928.480 33 65%

78.273.415 216.224.904 3620%

87.885.693 227.036.149 3871%

98,144,322 238.387.957 4117%

109.134.007 250.307.354 4360%

120.872,170 262.822.722 45.99%

133,428,525 275,963.858 48 35%

146,851.407 289,762,051 5068%

161.191.731 304.250.154 52 98%

176.535.067 319.462.661 5526%

192.942.669 335.435,794 57,52%

210.479.252 352.207.584 5976%

229.250.155 369,817.963 61 99%

249.294.289 388,308,881 64.20%

270.728,938 407,724,305 6640%

293,683.817 428.,110.520 68 60%

318.167.457 449,516.046 7078%

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 7951%

468,720,287 573.709.041 81.70%

505,348.740 602.394.493 83 89%

544,468.239 632.514.218 8608%

586.369.143 664.139.929 88 29%

627.918,944 693.756.429 9051%

666.845.226 724,674.229 92 02%

652.902.999 698.291.977 93 50%

606.715.888 638,513,880 9502%

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 10000%

13.067.526 13,067,526 10000%

10.526.082 10,526,082 100 00%

8000%

503%

8000%

638%

8000%

890%

8000%

11 35%

8000%

13 74%

8000%

1606%

8000%

1833%

80 00%

20 55%

80 00%

22 72%

8000%

24 84%

800 0%

2692%

80 00%

28 96%

80 00%

3097%

8000%

32.94%

8000%

34 88%

8000%

36 79%

81 00%

39 16%

8200%

41 56%

83 00%

43 98%

8400%

46 42%

85 00%

48 89%

8600%

51 40%

87 00%

53 93%

88 00%

5650%

8900%

5910%

9000%

61 74%

91 00%

6441%

92 00%

67.13%

93 00%

69 89%

94 00%

72 69%

95 00%

75 53%

96 00%

78 43%

9700%

81 37%

98 00%

84 36%

9900%

8741%

10000%

9051%

100 00%

92 02%

100 00%

9350%

10000%

9502%

100.00%

96 33%

10000%

97.22%

10000%

97.98%

100 00%

98 72%

100 00%

99,36%

100 00%

10000%

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 FILPA WEXCEUMCONaAp3SARMJ/JeOnE 7'in2.i1 662%

7 95%

1023%

1190%

1546%

1809%

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 96.697.736 108.077.106 120.418.154 133,809.218 148,289.456 164,001,269 181,034.698 199.447,635 219.378,974 240,948.755 264.315.435 289.532,386 316,859.455 346.366,380 378,258,730 412.712,625 449,971.475 490.188,278 533.578.874 580.505.452 627.918.944 666,845,226 652.902.999 606.715.888 547.039.202 463,037.337 368.845.464 261,055.055 154.919.964 58,906,705 13,067.526 10.526,082

ARIZONA PUBLIC SERVICE COMPANY NUCLEAR DECOMMISSIONING FUNDING REQUIREMENT UNIT THREE Based on 1995 Cost Study Rate of Retur 6 7500% Annual Period Rate of Return 1 6875% Quarter Period Rate of Return 5 0000% Annual Estalaction First Quartet Second Quarter Third Quarter Fourth Quarer Contrib Contrib Contrtib Conrilb Quarter Earnings Quarter Earnings Quarter Earnings Quarter Earnings ANNUAL Year Contrib Earnings to Date Contrib Earnings to Date Contib Earnings to Date Contrib Earnings to Date CONTRIBS 1995 1996 1.096,015 1997 1.096,015 1998 1.096.015 1999 1.,90.015 2000 1.096,015 2001 1.096,015 2002 1.096,015 2003 1.096,015 2004 1.096,015 2005 1.096,015 2006 1.096.015 2007 1.096.015 2008 1.096,015 2009 1.096.015 2010 1,096.015 2011 1.096.015 2012 1.096,015 2013 1.096.015 2014 1.096.015 2015 1.096.015 2016 1.096,015 2017 1.096,015 2018 1.096,015 2019 1.096.015 2020 1,096.015 2021 1,096.015 2022 1.096.015 2023 1.096,015 2024 1.096,015 2025 1.096,015 2026 1,096.015 2027 0

2028 0

2029 0

2030 0

2031 0

2032 0

2033 0

2034 0

2035 0

2036 0

2037 0

414.244 518.796 630.586 750.115 877.916 1.014,570 1,160.81 1.316.907 1.483.949 1,662.554 1.853.524 2,057.715 2.276,041 2.509.481 2.759.082 3,025.963 3.311.318 3.616.429 3.942,681 4.291.478 4.664.443 5.063.228 5.489.619 5,945.529 6.433.000 6.954,218 7.511,519 8.107,400 8.744.533 9,425,774 10.096.471 0

0 0

26.058.033 32.358.262 39.094,644 46,297.370 53,998.726 62,233,231 71,037.794 80.451.877 90.517.678 101.280.313 112,788,023 125.092.387 138.248,557 152.315.500 167.356,268 183.438.277 200.633.610 219.019.340 238.677,874 259.697.328 282.171.915 306.202.369 331.896,402 359.369.179 388,743.837 420.152,042 453.734.571 489.641.948 528,035.116 569,088.163 609.501.883 0

0 0

1.096.015 1.096.015 1,096.015 1,096.015 1.096,015 1,096.015 1,098.015 1,096,015 1,096.015 1,096.015 1.09G.015 1.096.015 1.096.015 1,096.015 1.096,015 1.096.015 1.096.015 1.096.015 1.096,015 1.096,015 1.096,015 1.096.015 1.096,015 1.096,015 1.096,015 1.096.015 1,096.015 1.096,015 1.096.015 1,098.015 1,096,015 0

0 0

439.729 546.046 659.722 781,268 911.229 1.050.186 1.198.763 1.357.625 1.527.486 1,709.105 1.903,298 2,110.934 2,332,944 2.570.324 2.824.137 3.095.521 3,385,692 3,695.951 4.027.689 4.382.392 4.761.651 5.167.165 5.600.752 6.064.355 6.560.052 7.090.066 7.656.771 8.262.708 8.910.593 9.603.329 10.285.344 0

0 0

27.593,778 34.000.324 40,850,381 48.174.654 56.005.970 64.379.432 73.332.572 82,905,518 93.141.179 104,085,434 115.787.336 128,299,337 141.677 516 155.981.839 171.276,421 187.629,814 205.115.318 223.811.306 243.801.579 265,175,736 288,029,581 312,465.550 338.593.169 366.529.549 396,399,905 428.338.123 462.487.357 499.000.671 538.041.724 579,785.508 620.883.223 0

0 0

1.096.015 465.645 1.096.015 573.755 1,09,.015 689,350 1.096.015 812.947 1.096.015 945.101 1.096,015 1.086.403 1.096.015 1.237.487 1.096,015 1.399.031 1,096,015 1.571.757 1.096.015 1.756.442 1.096,015 1.953,911 1.096.015 2,165.051 1,096,015 2.390.808 1.096.015 2.632.194 1.096.015 2,890.290 1.096.015 3.166.253 1.096,015 3.461.321 1,096.015 3.776.816 1,096015 4,114.152 1.096.015 4.474.841 1.096.015 4.860.499 1,096.015 5.272.856 1.096,015 5.713.760 1.096 015 6,185.186 1.096,015 6,689,248 1.096,015 7.228,206 1.096,015 7,804.474 1.096,015 8.420.636 1.096.015 9.079.454 1.090.015 9.783.880 1.096,015 10.477.404 0

0 0

0 29.155,438 35.670.094 42.635.747 50,083,616 58,047.086 66.561.851 75.666,074 85.400.564 95.808,952 106,937.891 118,837.263 131.560.403 145.164,340 159.710.048 175,262.726 191.892.082 209.672.654 228,684.137 249.011.748 270.746.592 293.986,096 318.834.421 345.402.944 373.810.750 404.185.169 436.662.344 471.387.847 508.517.322 548,217.194 590.665.403 632,456,642 0

0 0

24,547.774 1.096,015 491.998 30,743.451 1.096.01s 601.933 37.368.043 1.096.015 719.478 44.451.240 1.096.015 845.161 52.024.793 1.096.015 979.545 60.122.646 1.096,015 1.123.231 68.781.097 1.096.015 1.276.865 78.038,955 1.096,015 1.441.135 87.937.714 1.096,015 1.616.776 98,521,743 1.096.015 1,804.571 109.838.483 1.096.015 2,005.379 121.938.657 1,096.015 2.220.082 134.876.500 1.096.015 2.449.648 148.710.003 1,096.015 2.695.107 163.501.171 1.096.015 2.957.558 179.316.300 1.098.015 3.238.179 196.226.276 1.096.015 3.538.226 214.306.895 1.096.015 3.859.045 233.639.198 1.096.015 4.202.073 254.309.835 1.096.015 4,568.849 276.411.456 1.096.015 4.961.015 300.043.126 1.096.015 5.380.331 325.310.768 1.096.015 5.828.675 352.327,634 1.096.015 6.308.058 381.214.822 1.096.015 6.820.625 412.101,809 1.096.015 7.368,671 445,127.037 1.096.015 7.954.670 480,438.532 1,096.015 8.581.230 518.194.568 1.096,015 9.251.165 558.564.374 (2.323.505) 9.967,479 598.309.377 (2.494,481) 10,672.706 640.634.867 (59.634.251) 43,242.854 624.243.470 (90.183.521) 42.136.434 578.196.383 (97.675.391) 38.893.258 517.414.249 (114.282,450) 34.925,482 438.057.261 (117,754,291) 29,568,865 349.871,835 (124.602,239) 23.616.349 248.885.944 (115.946,706) 18,799.801 149.739.039 (99,816,214) 10.107.385 60.030.210 (46.461.442) 0 13.568.768 (3.042.686) 0 10.526.082 (10.528.082) 0 (0)

M4EW. W EXCEtOVECOcWcsRAe9x141IMT!

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

.4-*

i

il~i

=*£*

i*.i l~i2 tV i

i i

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

Summary of Assumptions

>Investment Return Assumption:

7 65%

>Inflation/Escalation Assumption:

5 92%

>1995 Cost Study, Including 25% Contingency PJH3I2J~W5O7Repo.1.199 xf PJH 31241"

SALT RIVER PROJECT NUC.EAR DEcOMMWSfONNQ RUWT (($O0)

AD Prticipants Decom Costs in 1995$

$447,218 SRP Share in 1995$

$78,218 PMn Balance as of 12/31/95 in 1995$

$17,292 FV of Totd Decom. Charges Discounted to 2024 $414,639 FV of 12/31/95 Plan Balance in 26 years S7141 FV of Bdoce Owed to be Funded by Contributions and Earnngs M

Cdender Yeas Since Year End 31; 3 1.-ec 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 0

1998 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 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2027 2028 2029 2030 2031 2032 2033 2034 2035 SRP Shore 17.49%

Projected return on invesrneýnb 7.65%

Proqjeced Inflation 5.9 Years To Start of Decom (Funding Yrs Left) 26 Current

$dance Annual Beore Decom Terrnnotion Payment Earrings Decom Charges Ending Costs Funded BMWla Ad.?*

/Infhal ACE.)

Chaoa f'inflat AdT.)

Bdn flnafl AdT.1 l h

721 960 805 841 1.746 1,107 1842 2.360 1.775 1.292 1.369 1.450 1,115 1,181 1.251 1,325 1,403 1.486 1.574 1,668 1.766 1,871 1.982 2,099 2.223 2.355 2.494 2.642 2.798 2.964 3,139 3,325 3,522 3.731 3.951 4,185 4.433 4.696 CLOD 0.00 0.00 000 0.00 0.00 0.00 000 0.00 0.00 o00~

26 747 31 1.738 135 2.678 499 4.018 280 6,044 462 7.617 313 9,772 69 12.201 3,317 17.292 2.752 23,336 4,881 27,586 5.318 34.354 2.628 38.097 2.914 42.192 3.228 46,671 3.570 51.566 3,945 56,914 4,354 62.755 4.801 69,130 5.288 76.086 5,821 83,672 6.401 91.944 7.034 100.960 7,723 110,782 8.475 121,480 9.293 133.128 10,184 145,807 11,154 159,603 12.210 174,610 13.358 190,932 14,606 208,678 15.964 227.967 17,439 248.928 19,043 271,702 20,785 296.439 22,678 323,302 24.733 352.467 26.964 384,127 29,381 413,447 29,518 415,367 27,640 388.944 23,473 330,309 19,036 267,877 14,082 198.167 8370 117.783 5,383 78,561 4.725 66,488 3.503 49,298 469Q5 550955 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 747 1,738 2.678 43,630 A.14%

4,018 44,983 8.93%

6.044 47,646 12.68%

7,617 79,718 9.56%

9.772 84,438 11.57%

12.201 89.436 13.64%

17.292 78,218 22.11%

0.00 21.336 82.849*-

25.75%

000 27.586 87,754 31.44%

000 34.354 92.949 3696%

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 61 27,597 54,063 82,108 81,469 83,793 88,753 44.805 16,799 20,693 29,424 2139 38.097 98.451 38.70%

42.192 104,279 4046%

46,671 110,453 42.25%

51,566 116,992 44.08%

56,914 123,918 45.93%

62,755 131.253 47.81%

69,130 139.024 49.73%

76.086 147.254 51.67%

83.672 155,971 53.65%

91.944 165.205 55.65%

100,960 174.985 57.70%

110.782 185,344 59.77%

121,480 196,316 61.88%

133,128 207,938 64.02%

145.807 220.248 66.20%

159,603 233,287 68.41%

174,610 247.098 70.66%

190.932 261.726 72.95%

208,678 277,220 75.28%

227,967 293.631 77.64%

248,928 311,014 80.04%

271,702 329,426 82.48%

296,439 348,928 84.96%

323,302 369,585 87.48%

352,467 391.464 90.04%

384,066 414,578 92.64%

385.850 411,524 93.76%

361,304 381,823 94.63%

306,836 322,319 95.20%

248,841 259.932 95.73%

184,084 191,527 96.11%

109,413 114,112 95.88%

72.978 76,063 95.94%

61,763 63,767 96.86%

45,795 46,850 97.75%

19,874 20.199 98.39%

. 000 10000%

00o oo UNiT 1 A

C T

U A

L F

0 R

E C

A S

T

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

ESTIMATED FUNDING

. ",-W.

iNGFLROO C-Enbng RFnd Sdnce If Csded 47,646 12.74%

79.718 9.5-;%

84,438 11.57%

89,436 13.64%

78,218 19.06%

82.849 25.75%

87,754 31.44%

92.949 36.96%

98,451 38.70%

104,279 40.46%

110,453 42.25%

116,992 44.08%

123,918 45.93%

131,253 47.81%

139.024 49.73%

147.254 51.67%

155,971 53.65%

165,205 55.65%

174.985 57.70%

185.344 59.77%

196,316 6128%

207.938 64.02%

220,248 66.20%

233.287 68.41%

247.098 7066%

261,726 72.95%

277.220 75.28%

293,631 77.64%

311,014 B0.04%

329,426 82.48%

348,928 84.96%

369%585 87.48%

391,464 90.04%

414,578 94.64%

411,524 96.76%

381,823 96.83%

322.319 97.20%

259,932 98.73%

191,527 98.81%

114,112 99.88%

76,063 100.00%

63,767 100.00%

46,850 100.00%

20,199 100.00%

0.00 100.00%

Minrmum WMnimLwn Mirimum oor Bandl Percentae JA lPercentaae SAT Slsid 80.01=

80.00%

80.=00 8000%

80.00%

80U%

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%

I00110%

100.00%

-ndkg FRor M0.19%

7A4%

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%

AA.40%

47.27%

50.25%

53.32%

56.48%

59.75%

63.11%

66.58%

70.16%

73.85%

77.64%

S.M%

85.57%

89.69%

93.93%

95.17%

95.91%

96.64%

97.33%

97.85%

98.38%

100.00%

lo.00%

100M0%

4,857 6,090 7,822 9.761 9M48 11,843 14,065 16.534 19.274 22.311

.25,674 29,391 33,497 38,027 43,557 49,730 56,613 64,278 72,806 82,284 92,808 104,485 117.428 131.766 147,634 165,186 184.586 206,014 229,669 255.766 284,542 316,253 351,094 389,422 391,656 366,207 311.484 252.991 187,409 112.264 76,063 63,767 46.850 20,199 0.00 AcduI Fgnded 12.68%

6,044 9.56%

7,617 11.58%

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 Vea" 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 91.944 100,960 110,782 121,480 133,128 145,807 159,603 174.610 190.932 208,678 227,967 248.928 271.702 296.439 323,302 352.467 384,066 385,850 361,304 336.836 248,841 109,413 72.978 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 2006 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2D30 2031 2032 2033 2034 2035

SALT RPV PROJECT NUCLEAR DECOMMLSSIONING TRUST (CO0is)

UNIT 2 Al Participants Decom Costs in 1995$ $464,320.8 SRP Share in 1995$

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

$15,940.3 FV of Totld Decom. Charges Discounted to 2025 $455,981.4 FVof 12/31/95 Plan Balance in 27years S75.31 FV of Balance Owed to be Funded by Contribuons and Earrings

.6-Cdender Years Since Year End At&

31 -Dec SRP Share 17.49%

Projected return on investments 7.65%

Projected Inflaton 5.92n Years To Start of Decom (Fundng Yrs Left) 27 Cuyernt Balace Arnnud Bedw Decom Tefmination Payment Earnings Decom Charges Endng Costs Funded flnfla& Acd.1 t'ln* Adri.

rharcns MR Adli.)

Bdc~c*

flnflat Ad*.)

E9-ho 1988 1989 1990 1991 1992 1993 1994 1995 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 1999 2000 2001 2002 2003 2004 20M5 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 960 805 841 1.909 1,292 1,761 2-241 1.714 0.00 74 343 218 394 281 63 3.042 1,379 2.537 1.460 4,545 1.546 4.991 1.257 1,332 1.411 1.494 1.582 1.676 1.775 1,880 1,992 2,110 2.235 2.367 2.507 2.655 2.813 2.979 3.155 3.342 3,540 3.750 3.972 4,207 4.456 4,720 4.999 5.295 5.608 0.00 0.00 0.00 0.00 0.00 000 0.00 0.00 0.00 0.00 2.478 2.764 3.078 3,421 3,797 4.208 4,659 5,151 5,689 6.276 6,918 7.618 8,382 9.2.15 10,123 11,112 12,190 13,364 14,642 16.033 17,547 19,193 20.983 22.929 25,044 27.342 29,839 32,018 30.271 27,329 23.413 18,677 13.725 8.256 5.504 3,949 LNM 960 1,839 3,023 5,150 6,839 8.881 11,185 15.940 19,856 25,860 1.4 499 32398i~

,w 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 209586 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 0.00 0.00 0.00 0.00 0.00 000 0.00 0.00 960 1839 43.256 3,023 44,597 5,150 47,237 6,839 78,467 8.581 83,112 11,185 88.032 15,140 in.ýo 0.00 19,856 86,017 0.00 25.860 91,110 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 000 000 0.00 0.00 000 000 0.00 0.00 0.00 0.00 0.00 000 0.00 0.00 0.00 0.00 0.00 0.00 6.972 54A854 68,728 78,513 85,326 83,400 85M218 "44,233 25,828 34,862 36.134 102.216 40,230 108,267 44,718 114,677 49.633 121,466 55,012 128,656 60.896 136.273 67,330 144,340 74,362 152.885 82,042 161,936 90,428 171.523 99,580 181,677 109-565 192,432 120,454 203,824 132.324 215,890 145,259 228,671 159Z351 242,209 174,697 256,547 191.403 271,735 209.586 287,822 229,369 304,861 250,887 322,908 274287 342.025 299,726 362.272 327,374 383,719 357,417 406.435 390.055 430,496 418,531 449,010 395,694 420,737 357.237 376,917 306,053 320,717 244.140 254,378 179,417 186.037 107,924 111,832 71.947 74,220 51,624 52.786 20.711 21,049 0o

.00 000o~o 4.25%

6.78%

1090%

8.72%

1069%

1271%

19.63M 2308%

2838%

35.35%

37.16%

38.99"%

40.86%

42.76%

"44 69%

4665%

4864%

5066%

5272%

54 81%

56.94%

59.10%

61.29%

63.52%

65.79%

68.10%

70.44%

72.82%

75,.24%

77.70%

80.20M%

82.73%

85.320 87.94%

90.61%

93.21%

94.05%

94.78%

95.43%

95.98%

96 44%

9651%

96.94%

97Z80%

98.39%

100.00%

K A

C T

U A

L I

I F

0 R

E C

A S

T I

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

ESTIMATED FUNDfNG

,.2:.

[

Ending Fund Minimum Minimum Minimum Floor Yea I C

Funded jnd PercentEa.

SCAMT PercentageI SAMT SLsfised Year Funding Floor Actua Funded 1991 5.163 47,46 10.93%

80.00%

8.74%

4,166 10.81%

5,150 YES 1992 6M836 78,467 8.71%

B0.00%

6.97%

5.469 8.72%

6.839 YES 1993 8,887 83.112 1Q.69%

80.00%

8.55%

7.109 10.69%

8.883 YES 1994 N,185 88,032 1271%

80.00%

10.16%

8,948 12.71%

11.185 YES 1995 13,755 81.210 16.94%

80.00%

11.80%

9%583 19.63%

15,940 YES 1996 19,856 86.017 23.08%

80.00%

13.46%

11.582 23.08%

19,856 YES 1997 25.860 91.110 28.38%

80.00%

15.15%

13,807 28.38%

25,860 YES 1998 32,398 96,503 33.57%

80.00%

16.87%

16.283 33.57%

32,398 YES 1000

'A 20MO 2001 2002 2003 2004 2005 2006 2007 200 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 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 327X74 357,417 390,055 418,531 395,694 357.237 306,053 244,140 179.417 107,924 71.947 51,624 20,711 0.00 I IwJ 10 108.267 114,677 121,466 128.656 1,36,273 144,340 152,885 161,936 171,523 181,677 192.432 203,824 215,890 228.671 242209 256,547 271.735 287.822 304,861 322,908 342,025 362.272 383,719 406.435 430.496 449,010 420.737 376.917 320,717 254,378 186,037 111,832 74,220 52,786 21,049 0.00 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%

9321%

94.05%

95.78%

96.43%

97.98%

98.44%

10000%

100.00%

10000%

100.00%

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%

18.62%

20.39%

22.20%

24.03%

25.89%

27.79%

29.71%

32.06%

34.50%

37.01%

39.62%

42.30%

45.08%

47.95%

50.91%

53.97%

57.12%

60.37%

63.72%

67.18%

70.73%

74.40%

78.18%

82.06%

86.07%

90.16%

92.55%

94.02%

95.24%

96.00%

96.72%

97.40%

97.86%

98.40%

100.00%

19.032 22,080 25,455 29,18%

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 109A36 73.029 52.786 21.049 0.00

110%

.o-o

.o D

.o.o.

o.

b.

.ooo..o

.o.

.o o....................

.'*°.'bo

°

'Q

°'

° o~

oo.o...

Funding Percontage 1995 D*commluionlng 70.........................

6m~~~~~~~d s oo.......

70M.................................................

40%.........

b...........

oo......

o....

=

o.

o o

.o...

o o

o.

o.....

o..

oF rdigFo at I

Actud FundedI 3D

.o= o

o. o.o...

o.o.=...

oo oo o

.o....

0......

20%

I....

............ I°....................................o I

SALT RIVER PROJECT NUCLEAR DECOMMISSIONING TRUST ($OOO'S)

UNIT 3 A[ Porlicipants Decom Costs In 1995Z $534.777.4 SRP Shoe in 1995$

$93,532.6 Pion Soance s of 12131/95!n 1995$

$16,791.0 FV of Tofao Decom. Charges Oiscou.nted to 2027 $59.193.5 FVof 12/31/95 Pon Balance in 29 yeas M.OM FV of Balance Owed to be Funded by Contn'bufions and Eoanrngs M SRP Share 17A9%

projected return on invrtments 7.65&%

Projected Inflation 5.92%

Years To Start of Decom (Funding Yn Left) 29 Current bdaie Colnder Amid Bela.

Decorn Temfinafion Yea Since Year End Payment Earrings Decom Charges Ending Costs Funded 1hu4 31-e lnfla Ad finfla Adi I Charges Onfla Adi I Bdaj c (Inflct Adl I 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 0

1998 960 841 2.154 1.590 1.787 2.290 1.721 c.0o 74 343 218 413 304 67 3.221 960 1.839 3.023

&-395 7,401 9.493 11.49 16.791 1.517 2.672 20.980 1.606 4.802 27=388 1.702 5.289 34.380 960 1=839 45.998 3.023 47.424 5,395 50=232 7,401 82.736 9,493 87,634 11.849 92822 16,791 93.533 0.00 20.980 99.070 0.00 27.388 104,935 000 34.380 111,147 400%

6.37%

10.74%

8.95%

10.83M 12,77%

17.95%

21.18%

26.10%

30 93%

38.432 117.727 42.878 124.696 47.754 132.078 53,097 139.897 58.949 148.179 65.354 156.951 72.362 166.243 80.025 176.084 88.400 186.508 97.548 197.550 107.538 209.245 118&442 221.632 130.339 234.753 143.313 248,650 157.458 263.370 172.873 278.962 189.667 295.476 207.957 312.968 227.870 331.496 249.543 351,121 273.126 371.907 298.778 393.924 326.675 417.244 357.004 441.945 389.969 468.108 425.791 495.820 464.708 525.173 506.977 556.263 505.494 541.810 471,879 501.599 429.001 452.318 368.606 385.881 299.918 311.839 219.441 226.880 139.150 143.232 65.489 67.406 30.913.60 31.811 25.433.00 25.848 A

C I

U A

L F

0 R

E C

A S

T 1999 2000 2001 2002 2003 2004 2005 2006 2c07 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 1.422 1.506 1.595 1.690 1.790 1,896 2.008 2.127 2,253 2,386 2.528 2.677 2836 3.004 3.181 3.370 3.569 3,780 4004 4.241 4.492 4.758 5.040 5.654 5.989 6.344 6.719 7.117 0.00 0.00 0.00 0.00 0.00 0.00 0,00 0.00 0.00 10,9 2.630 2.940 3.280 3.653 4.062 4.510 5.530 6,122 6.763 7,462 B.227 9,061 9.971 10.963 12.046 13.225 14.510 15.909 17.432 19.090 20.894 2ZB57 24.99 1 27.311 29.833 32.573 35.5w0 38.784 38.670 3&.099 32819 28.198 22.944 16.787 10.645 5.010 2.365 S9J46 38.432 42.878 47.754 53.097 58.949 65.354 72,362 80.025 88.400 97-54 107.538 118.442 130.339 143.313 157.458 172.873 189.667 207.957 227.870 249,543 273.126 298&778 326.675 357.004 389.969 425.791 464.708 506.977 552.878 544.164 507.978 461.820 396.805 322..61 236.229 149.795 70.499 33.278 o00 0.00 0.00 0.00 0.0o 0.00 0.00 000 ocoo 000 0.00 0.00 0.00 0.00 0.00 O0.0 0.00 0.00 O.00 o.00 0.00 0.00 0.00 0.00 0.00 0.00 Ooo O.OO 0.00 47,384 72.285 78.976 93.214 96.887 103.420 97.079 84.306 39.585 7.845 2zm zoz 32.65%

3439%

36.16%

37.95%

39.78%

41.64%

43.53%

45.45%

47.40%

49.38-%

51.39%

55.52%

57.64%

59.79%

61.97%

64.19%

6645%

68.74%

71.07%

73.44%

7585%

78.29%

80.78a%

83.31%

85.88%

8849%

91.14%

93.30%

94.07%

94.85%

95.529 96.18%

96.72%

97.15%

97.16%

97.18%

98.39%

10000%

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

ESTIMATED FUNDING

,L *.:..

FUN Ending Fund Wrifmum Mrin'xm Mrinimm Boo B~ad Percentage A6MI Fur-dwng Fl=

80.00%

8.74%

4.166 8).00%

7.15%

5,918 80.00%

8.67%

7.598 80.00%

10.21%

9.479 80.00%

11.78%

11,018 80.00%

13.37%

13,248 80.00%

14.99%

15,731 80.00%

16.64%

18.491 80.00%

1831%

80.00%

20.01%

80.00%

21.73%

80.00%

23.49%

80.00%

25.27%

80.00%

27.09%

80.00%

28.93%

80.00%

30.80%

80.00%

32.71%

81.00%

35.07%

82.00%

37.52%

83.00%

40.05%

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%

92.14%

100.00%

93.60%

100.00%

94.87%

100-00%

95.73%

100.00%

96.46%

100.00%

97.18%

100.00%

97.79%

100.00%

98.40%

100.00%

21,554 24,949 28,707 32.862 37.451 42,514 48,094 54,239 61.000 69,288 78,513 88,770 100,163 112,809 126,832 142.371 159,575 178,610 199,657 222,912 248,590 276,929 308,185 342.639 380,600 422,320 459,314 499,497 499,234 469,509 429,124 369,402 300,814 220,474 140,066 66,328 31.811 25,848 0.00 Percentage SAMT Sc!sfe AMtuoI Fur~epd 11.32%

5,395 YES 8.95%

7,401 YES 103%

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 Year 1991 1992 1993 1994 1995 1996 1997 1998 0

10.93%

8.94%

10.84%

12.77%

15.48%

21.18%

26.10%

30.93%

5,408 7398 9.498 11,849 14,477 20,980 27-388 34.380 38.432 42878 47.754 53,097 58,949 65,354 72,362 80,025 88,400 97.548 107,538 118,442 130,339 143,313 157,458 172,873 189,667 207.957 227,870 249,543 273,126 298.778 326,675 357.004 389.969 425,791 464.708 506.977 505,494 471.879 429,001 368,606 299,918 219,441 139.150 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 "44 1.945 468,108 495.820 525,173 556.263 541.810 501.599 452.,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 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 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%

96.52%

M00-00%

100.om%

100.00%

10 --

- - - - - - F inding Percentages fm ---

-- --- -- 1995 Docomm sts lontng cost S"a-y 70I

,d"-

20%

to --

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~l

~24m9 07kRepod-199 we, P.IH W24M*

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

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

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

--.r.--........

3.1.1 Table For Unit 1 (In Thousands) - continued:

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

51.07%

53.88%

56.72%

59.75%

62.83%

65.95%

69.33%

72.76%

76.24%

80.15%

84.12%

88.15%

92.21%

94.14%

95.76%

96.72%

97.67%

98.58%

99.28%

100.00%

Funding Floor 42.02%

44.94%

47.95%

51.05%

54.38%

57.80%

61.33%

65.17%

69.12%

73.19%

77.75%

82.44%

87.27%

92.21%

94.14%

95.76%

96.72%

97.67%

98.58%

99.28%

100.00%

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

3.2 Percent Funded Curve and Fundinp. Floor Curve for Each Unit:

3.2.1 Unit 1 Curve:

100%

20%

80%

70%

60%

50%

40%

30%

20%

10%

0% L0 1991 EL PASO ELECTRIC COMPANY Annual Funding Status Report For the Year Ended December 31, 1998 1994 1997 2000 2003 2008 2000 2012 2015 2016 2021 2024 2027 2030 2033 29

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

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

3.2.2 Unit 2 Curve:

100%

9O%

80%

70%

60%

50%

40%

30%

20%

10%

0%

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

3.1.3 Table for Unit 3 (In Thousands):

Year 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Estimated Deposits 1,282.171 1,294.243 1,345.503 1,398.793 1,454.194 1,511.789 1,571.665 1,633.912 1,698.625 1,765.900 1,835.841 1,968.776 2,046.751 2, 127.815 2,293.851 2,384.702 2,479.150 2,690.503 2,797.064 2,907.844 3,183.853 3,309.953 3,441.047 Estimated Income 84.542 183.753 296.535 421.734 560.441 713.834 883.188 1,069.880 1,275.398 1,501.348 1,749.467 2,023.290 2,326.245 2,657.989 3,023.184 3,426.332 3,866.802 4,350.805 4,884.311 5,466.162 6,104.764 6,808.145 7,574.165 Estimated Accumulation 652.302 2,019.015 3,442.544 5,084.582 6,905.110 8,919.745 11,145.367 13,600.220 16,304.012 19,278.034 22,545.282 26,130.589 30,122.655 34,495.652 39.281.456 44,598.491 50,409.524 56,755.476 63,796.785 71,478.159 79,852.165 89,140.783 99,258.881 110,274.093 Estimated Costs 46,068.418 74,741.789 76,440.553 80,486.159 84,745.877 89,231.041 93,953.581 98,926.061 104,161.709 109,674.453 115,478.958 121,590.666 128,025.835 134,801.584 141,935.939 149,447.879 157,357.387 165,685.505 174,454.387 183,687.361 193,408.989 203,645.132 214,423.023 225,771.331 Percent Funded 1.42%

2.70%

4.50%

6.32%

8.15%

10.00%

11.86%

13.75%

15.65%

17.58%

19.52%

21.49%

23.53%

25.59%

27.68%

29.84%

32.04%

34.25%

36.57%

38.91%

41.29%

43.77%

46.29%

48.84%

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

3.2.3 Unit 3 Curve:

100%

00%

o0%

70%

60%

50%

40%

30%

20%

10%

0%

7 1991 1994 1997 2000 2003 2006 2009 2012 2015 2018 2021 2024 2027 2030 2033 31 EL PASO ELECTRIC COMPANY Annual Funding Status Report For the Year Ended December 31, 1998

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

Assumptions Used in Developing Committed Accumulations:

Cost Study:

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

Contingency Factors:

1995 TLG Study Annual Escalation Assumption:

Approximately 7.3% over the funding period.

Rate of Return Assumption:

5.25% per year (after tax)

Pi" 3&241, 50ThR.pcellegg di

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

C2)

(3)

FUNDING PLAN NR DS ESTOSTFUND 1991 25.499 44,219 58%

1992 32.402 69,860 46%

1993 38,797 74,905 52%

1994 45,527 80,314 57%

1995 54,963 86,114 64%

1996 64,895 92.333 70%

1997 75,348 99,000 76%

S19;8 86,3,50 106.160 81%

1999 97,930 113,815 86%

2000 110,118 122-034 90%

2001 122.945 130,847 94%

2002 136,446 140.296 97%

2003 150,656 150A27 100%

2004 165,611 161.290 103%

2008 181,352 172937 105%

2006 197,919 1885426 107%

2007 215,356 198,816 108%

2008 233,709 213,174 110%

2009 283.025 228,568 111%

2010 273,3Z5 245,074 112%

2011 294,752 262772 112%

2012 317,273 281,747 113%

2013 340.976 302.094 113%

2014 365,923 323,909 113%

2015 392,180 347,300 113%

2016 419,816 372,380 113%

2017 448,903 399,271 112%

2018 479,516 428,104 112%

2019 511.737 459,019 111%

2020 545.650 492.167 111%

2021

,81,343 527.709 110%

2022 618.909 565,817 109%

2023 658,448 606,677 109%

2024 700.063 650.487 108%

2028 696,219 6566864 106%

2026 594,779 566,305 105%

2027 477,988 459,182 104%

2028 344.308 333.566 103%

2029 192.070 187,340 103%

2030 69,900 68,615 102%

2031 0

0 100)%

2032 2033 2034 2035 (4)

(5)

(6)

(7)

(s)

(9)

FUNDING FLOOR CURVE ACTUAL FUNDING CR[EIA PERCE SA U

FUNDS 80%

46%

20,399 27.001 44.219 61%

80%

37%

25,922 33,787 69,860 48%

80%

41%

31.038 41,611 74,905 56%

80%

45%

36A22 45,930 80,314 57%

80%

51%

36,351 64,177 71,191 90%

80%

56%

42746 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%

8W%

72%

80%

75%

80%

78%

80%

82%

81%

85%

82%

88%

83%

90%

84%

92%

8a%

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%

105%

100%

104%

100%

103%

100%

103%

100%

102%

100%

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

Actual 125%-Accumulation 125%

100%,/,,//

- 4*

.1998 FUNDING STATUS5 75%" *$

AMOUNT PERCENT II COMMITTED

$ 71,078 81%

50%

e. I*.

Funding ACTUAL:

$122,110 139%

Floor"'

25%-

Committed FLOOR

$ 56,862 65%

Committed Accumulations 0 %

1 1

1,

... I I'

"I

-o V

to Il-a) 5 0

0 0a 0

r c

o)

C" 0

0 C0 0

C0 0

0 0

S" - "

v-T -"

71-k"X J

' l 0 4

( M C \\1 C \\1 C q E q 0 4j

( M C*

1~jC j

C \\

SOUTHERN CAJ.FORNIA ED6SCN COMPANY 1998 PALO VERDE UNIT 2 FUNDNG STATUS (S THOUSANDS)

(1) 2 (3)

PUND04G PLAN

)T Pigs ETCOTRNE 1991 24,496 1992 31,537 1993 38,092 1994 44,991 1995 54,543 1996 64,597 1997 75.179 r

1998 76,317 1999 98,039 2000 110,376 2001 123.362 2002 137,029 2W03 151,413 2004 166.553 2005 182487 2006 199.259 2007 216,910 2008 235,488 2009 255,042 2010 275,622 2011 297283 2012 320,061 2013 344,076 2014 369,330 2015 395,910 2016 423,886 2017 453,331 2018 4.4,321 2019 516,939 2020 551.268 2021 587,400 2022 625,430 2023 665,455 2024 707.582 2025 751.921 2026 790,166 2027 776,927 2028 657,874 2029 520,952 2030 364.378 2031 186,212 2032 62-940 203 0

2034 2035 43,826 68,737 74,905 80,314 86,114 92,333 99,000 106,150 113,815 122.034 130.847 140.296 150,427 161290 172937 185A26 19e,816 213.174 228,568 245.074 262772 281,747 302.094 323,909 3.47,30=

372380 399,271 428,104 459.019 492.167 527.709 W66,817 606A677 650A87 695,716 742.858 739,787 631,382 503=,

354,929 182.311 61.939 0

56m 46%

51%

56%

63%

70%

76%

81%

86%

90%

94%

98%

101%

103%

106%

107%

109%

110%

112%

113%

1t4%

114%

113%

112%

111%

110%

109%

108%

106%

105%

104%

103%

102%

100%

(4)

(5)

(6)

(7)

(a)

(9)

FUND4NG FLOOR CURVE ACTUAL FUNDING W

FUNDS

EST, COST 8W%

45%

19,597 25,943 43,826 59%

80%

37%

25.230 32-869 68,737 48%

80%

41%

30A74 40.791 74.905 54%

80%

45%

35,993 45-368 80,314 56%

80%

51%

37A42 63.426 73,893 86%

80%

56%

44.368 78,392 79,228 99%

80%

61%

51.648 98,759 84.948 116%

83%

65%

59.021 120,878 91,082 133%

80%

69%

80%

72%

80%

75%

8W%

78%

80%

81%

80%

83%

80%

84%

81%

87%

82%

89%

83%

92%

84%

94%

85%

96%

86%

97%

87%

99%

88%

100%

89%

101%

90%

103%

91%

104%

92%

104%

93%

105%

94%

106%

95%

106%

96%

107%

97%

107%

98%

107%

99%

108%

100%

108%

100%

106%

100D%

105%

100%

104%

100%

103%

100%

103%

100%

102%

100%

102 100%

100%

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

-- Actual Accumulation 120%

100%-ký 80%

60%

1998 FUNDING STATUS 60% -:"

Funding AMOUNT PERCENT 40%

COMMITTED

$ 73,776 81%

Comm'litted 20%-

Ar uain ACTUAL

$ 120.87R 0%

IN

SOUTHE'N CAUFORNtA EDISON COMPANY 1998 PALO VEM.

N1 3 PJNDEN STATJS (S THOUSAN~DS)

(1)

(2)

(3)

PJNDING PLAN SFUNDS E

%*FUNDED 1991 26,087 1992 34,110 1993 41,562 1994 49,405 1995 59,673 1996 70,480 1997 81,854 1998 93,826 1999 106,426 2000 119,688 2001 133,646 2002 148,336 2003 163.798 2004 180.072 2005 197=200 2006 215.227 2007 234,201 2008 254,171 2009 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 632442 2022 673,319 2023 716.343 2024 761,625 2025 809,284 2026 859,446' 2027 912241 2028 960.134 2029 951.127 2030 845,825 2031 700,015 2032 532.660 2033 341,615 2034 150A56 2035 0

48,798 73,450 74,905 80,314 86,114 92,333 99,000 106.150 113,815 122034 130.847 140296 150,427 161,290 172.937 1b5,426 198,816 213,174 228.568 245.074 262772 281.747 302094 323.909 347,300 372380 399.271 428.104 459.019 492167 527,709 565.817 606,677 650,487 700.291 753,907 811,628 873,769 881-253 793,489 664,025 510,759 330=85 147,093 (0) 53%

46%

55%

62%

69%

76%

83%

88%

94%

98%

102%

106%

109%

112%

114%

116%

118%

119%

120%

121%

122%

123%

122%

121%

120%

119%

118%

117%

116%

114%

112%

110%

108%

107%

105%

104%

103%

102%

100%

(4)

(8)

(6)

(7)

(8)

(9)

FUNriNG FL.OOR CURVE ACTUAL FUNDING CREIA S AN40UNT s

E FUNDED 80%

43%

20.870 27,730 48.798 57%

80%

37%

27.288 35,578 73,450 48%

80%

44%

33.250 44473 74,905 59%

80%

49%

39,524 49,825 80,314 62%

80%

55%

46,253 69A21 83,434 83%

80%

61%

54,390 85W640 89,458 96%

80%

66%

58,318 107,775 95,917 112%

80%

71%

72.401 131.789 102,842 128%

80%

75%

80%

78%

80%

82%

80%

85%

80%

87%

80%

89%

80%

91%

80%

93%

81%

95%

82%

98%

83%

100%

84%

102%

85%

104%

86%

105%

87%

107%

88%

108%

89%

109%

90%

110%

91%

111%

92%

112%

93%

113%

94%

113%

95%

114%

96%

114%

97%

115%

98%

115%

99%

114%

100%

114%

100%

112%

100%

110%

I00 %

108%

00)%

107%

100%

105%

100%

104%

100%

103%

100%

102%

100%

uthern California Edison Company Palo Verde Unit 3 Funding Plan 1998 FUNDING STATUS U,

cv) 0 cJ So 140%

120%

100%

80%

60%

40%

20%

0%

I-o

)-

,D I

0 C

a O

I I

M o) 0 0

0 0

I-cm cm cm CM cm cm CM C

M M

C M

CM CM CM COV

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 P 45.7SfsporLt11W

1 13.14 MUM

Patt 3.1 Accumulation and Funding Schedule As of December 31. 1998 PVNGS Units 1.2.3

($0005 Mellon Mellon NQ Invested After Tax Fixed Mellon qual Qualifled After Mellon NQ After Tat Total Fund Qualified Earntngs PUC2004 Total Total Fund Funding Dencih XYCii Jncom

.Bc~lahnc

.JhzUxn=n Bewinninz Bai

..Eaninz Eutanie Djnce CamUjbW"ii QjaatCoawnb Coauihuikin CgIflbullnn f1jlanes Qb~lluik Couibutaia 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 31.271 2000 15,132 20.916 1.390 7.500 428 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 1.181 4.425 56,525 52.114 2002 1.372 29,631 2.254 9.568 545 4Z.024 60.397 3.075 162 1.181 4.425 64,822 59.990 2003 20.911 33.911 2.573 11.301 644 48,441 69.259 3,075 162 1.188 4.425 73.6"4 68.581 2004 23.415 35,503 2,926 13.133 749 55.311 78,726 3.075 162 1.188 4.425 83,151 77.891/

2005 26.172 43.436 3.301 15,070 859 62.666 88.839 3.075 162 1,181 4,425 93.264 83.038 2(0X6 29.101 48.744 3,705 17.117 976 70.541 99.643 3.075 162 1.189 4.425 104.068 99.047 2007 32.212 54.456 4,139 19,231 1.099 78.974 111,186 3.075 162 1.188 4.425 115.611 110.928 2008 35.315 60,601 4,606 21.568 1.229 88.004 123.520 3.075 162 1.188 4.425 127,945 123,750 2W09 39.024 67.214 5.108 23.985 1.367 97.675 136,693 3.075 162 1.183 4.425 141.123 137.927 2010 42.749 74.329 5,649 26,540 1,513 108.031 130,781 3.075 162 1,188 4,425 155.206 152.971 2011 46,.716 11.985 6.231 29.241 1,667 119.124 165.830 3.075 162 1.183 4.425 170.255 169.048 2012 50.908 90.223 6.157 32.096 1,129 131,005 181,914 3,075 162 1.188 4,425 186.339 187.007 668 2013 55,371 99,087 7.531 35,782 2.040 144,439 199.810 3.075 162 1,188 4.425 204,235 206,258 2,023 2014 60,110 108,625 1,255 41.033 2.339 160.252 220,362 3,075 162 1,188 4.425 224,787 226,867 2,080 2015 65,143 11,3817 9.035 46.640 2.658 177,221 242.364 3.075 162 1,188 4,425 246,789 248,929 2,140 2016 70.488 129,930 9.875 52.626 3,000 195,430 265,918 3.075 162 1.188 4.425 270.343 272,503 2,165 2017 76,165 141,811 10,778 53,979 3,362 214.929 291.094 3,075 162 1.188 4.425 295.519 298.829 3,310 2013 82,193 154,596 11.749 66,833 3,810 236,993 319,187 3.075 162 1,188 4,425 323.612 326,933 3.321 2019 88,595 168.352 12,795 75,158 4,284 260.589 349,184 3.075 162 1,188 4,425 353,609 356.895 3.286 2020 95.394 183.154 13.920 83,916 4.783 285,773 381,167 3.075 162 1,133 4.425 315.592 388,836 3,244 2021 102,615 199.031 15,130 93,131 3,308 312.650 415.265 3,075 162 1,183 4,425 419.690 422,386 3,196 2022 110.284 216,218 16,433 102,823 5.861 341.334 451,618 3,0Y75 162 1.188 4.425 456.043 459.953 3,915 2023 118,427 234,615 17,834 113,737 6,486 372,764 491,192 3.075 162 1,188 4,425 495,617 499.367 3.,70 2024 127,076 254.491 19,342 125,211 7.137 406.188 533,265 3.075 162 1.188 4,425 537,690 533.313 2025 136.261 275,847 20,964 133,.536 7,612 437.959 574,221 3.075 162 1,188 4.425 578,646 565.385 2026 146.016 298,819 22,710 142,336 8,113 471,973 617,993 3,075 162 1,183 4.425 622.418 595.895 2027 156,375 323.336 24,589 151,637 8.643 508.405 664,780 3.075 162 1,188 4,425 669,205 586,093 Twtal Contribution 154,.350 PV of Contibutiom 51.366 Equivalent Annual Conirlullon 4.689 Equivalent Annual Per Unil 1.563 "NCITCOtET14-Page II

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

Funding Plan

)'ear Fund $

Et. Cosis V Funded Funding Flnor Curve Criteria Percent

$ A"0ou,11 Actual Funding Fund $

Est Cost r Funded 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1,095 3.450 5,981 6.807 7,018 8.107 9.212 10,449 12,117 14,213 16,500 18,993 21,715 24,662 27,871 31,356 35,119 39,180 43,669 48,432 53,522 59,211 65.302 71.830 78,812 86.273 94,607 103,502 112,990 123.106 133,8R6 145,625 158,509 164.770 175.793 1,096 2,334 3.691 4.117 4,235 8,094 9.999 14,095 28.746 45,099 47.354 49,722 8.28%

45,959 9.21%

48,257 16.77%

50.670 19.73%

53,203 26.49%

3.81%

5.18%

7.79%

Page 13 28,746 45,099 47,354 49,722 45,959 48,257 50,670 53,203 55,863 58,657 61,589 64,669 67,902 71,297 74,862 78.605 82,536 86,663 90.996 95,545 100.323 105,339 110,606 116,136 121.943 128.040 134,442 141.164 148.222 155,633 163,415 171,586 180.165 180.530 190,005 3.81%

7.65%

12 63%

13.69%

15.27%

1680%

18.18%

19.64%

21.69%

24.23%

26.79%

29.37%

31.98%

34.59%

37.23%

39.89%

42.55%

45.21%

47.99%

50.69%

53.35%

56.21%

59.04%

61.85%

64.63%

67.38%

70.37%

73.32%

76.23%

79.10%

81.93%

84.87%

87.98%

91.27%

92.52%

80%

305%

80%

6.12%

80%

10.10%

80%

10.95%

80%

12 22%

80%

13 44%

80%

14.54%

80%

15.71%

80%

17.35%

80%

19.38%

80%

21.43%

80%

23.50%

80%

25.58%

80%

2767%

80%

29.78%

81%

32.31%

82%

34.89%

83%

37.52%

84%

4031%

85%

43 09%

86%

45 88%

87%

48 90%

88%

51.96%

89%

55.05%

90%

58 17%

91%

61.32%

92%

64.74%

93%

68.19%

94%

71 66%

95%

75 15%

96%

7865%

97%

82.32%

98%

86.22%

99%

9036%

100%

92.52%

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

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

"ondig Sttus'¶;.

400%

~:~~A cu uatas,a :.'?'.".

.t;

,a a

,j

~i *~,-;.~y

' '.~'

' -f~o o

.din Flor

,-.I,...

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,A 80.00%

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2 0.0 0%

> ;... =,

Page 14 0.00%

1

":°

';:iL t

t "*

,* *,",*,,A

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

Funding Plan Year Fund $

&t. Costs Yo Funded 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1.096 3,426 5,936 6,756 7.346 8,485 9,645 10.940 12.687 14,880 17,273 19,882 22,729 25.820 29,178 32,831 36,769 41,018 45.713 50,706 56.032 61,983 68,365 75,195 82.511 90,331 99.048 108,367 118,293 128,876 140,171 152.451 165,328 178,739 189,264 28,499 44,375 46,594 48,923 47,703 50,088 52,593 55,222 57,983 60,882 63.927 67,123 70,479 74.003 77,703 81,588 85,669 89,951 94,449 99.171 104,130 109,336 114,803 120,543 126.570 132,899 139,544 146,521 153,847 161.539 169,616 178,097 187,002 196,352 206.170 Funding Floor Curve Criteria I'ercent S Amonnt 3.85%

7.72%

12.74%

13.81%

15.40%

16.94%

18.34%

19,81%

21.88%

24.44%

27.02%

29 62%

32.25%

34.89%

37.55%

40.24%

42.92%

45.60%

48.40%

51.13%

53.81%

56 69%

59.55%

62.38%

65.19%

67.97%

70.98%

73.96%

76.89%

79.78%

82 64%

85.60%

8841%

91.03%

91.80%

80%

81%

82%

83%

84%

85%

86%

87%

88%

89%

90%

91%

92%

93%

94%

95%

96%

97%

98%

99%

100%

3 08%

6.18%

10.19%

11.05%

12.32%

13 55%

1467%

15 85%

17.5(1%

19.55%

21 62%

23.70%

25 80%

27.91%

3004%

32.59%

35.19%

37.85%

40 66%

43 46%

46 28%

49.32%

52.40%

55.52%

58 67%

61.85%

65.30%

68.78%

72.28%

75.79%

79.33%

83.03%

86 64%

90.12%

91.80%

Actual Funding Fund $

Est. cost

% Funded 877 2,741 4,749 5,405 5.877 6.788 7,716 8,752 10.149 11,904 13.818 15.905 18,184 20.656 23,342 26.593 30,150 34,045 38.399 43,100 48,188 53,925 60.161 66.923 74.260 82.201 91,124 100,781 111,195 122,432 134.564 147,878 162.022 176,952 189,264 Page 15 1,096 2.334 3.691 4,117 4,235 8.479 10,368 14,528 28.499 44,375 46.594 48.923 47,703 50.088 52,593 55,222 3.85%

5 26%

7.92%

8 42%

8.88%

16.93%

19.71%

26.31%

Public Service Comany of New Mexico Palo Verde Unit 2 120 00%

100.00%

80.00%

60.00%

40.00%

20.00%

0.00%

Page 16 I

A..

4t aI ua..... mu.t...

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o.

9,',b N

sp A

!61

!CP

'p p

Ip Ip 10 Ip rp

PUBLIC SERVICE COMPANY OF NEW MEXICO PALO VERDE UNIT 3

($o0o)

Funding PInn Year Fund $

Ert. Costs

% Funded 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1.097 3,403 5.895 6,712 7.799 9.009 10.238 11.616 13,467 15.797 18.341 21.115 24.137 27.416 30,989 34,860 39.040 43,552 48.545 53.839 59,494 65.814 72.592 79,842 87.607 95,904 105,174 115,065 125.612 136,854 148.830 161.882 175.529 189.804 200,829 30,306 46,867 49,211 51,671 53.863 56.556 59.384 62,353 65,471 68,744 72,182 75.791 79.580 83,559 87,737 92.124 96,730 101.567 106.645 111.977 117.576 123.455 129,628 136.109 142,915 150,060 157,563 165,441 173.714 182.399 191,519 201.095 211.150 221,707 232,791 Funding Floor Curve Criteria Percent 3 62%

7.62%

11.98%

12.99%

14.48%

15.93%

17.24%

18.63%

20.57%

22.98%

25.41%

27.86%

30.33%

32.81%

35.32%

37.84%

40.36%

42.88%

45.52%

48 08%

50.60%

53.31%

56.00%

58.66%

61.30%

63.91%

66.75%

69.55%

72.31%

75.03%

77.71%

80.50%

83.13%

85.61%

86.27%

80%

81%

82%

83%

84%

85%

86%

87%

88%

89%

90%

91%

92%

93%

94%

95%

96%

97%

98%

99%

100%

2.90%

6 10%

9 58%

10.39%

.11.58%

12.74%

13.79%

14.90%

16.46%

18.38%

20.33%

22.29%

24.26%

26 25%

28 26%

30 65%

33.10%

35.59%

38.24%

40.87%

43.52%

46.38%

49.28%

52 21%

55.17%

58.16%

61.41%

64.68%

67.97%

71.28%

74.60%

78.09%

81.47%

84.75%

86 27%

$ Amount R78 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 96.760 107,010 118,076 130,011 142,876 157.025 172.018 187.906 200.829 Page 17 Actual Funding Fund S Est Cost 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

% Funded 3.62%

4.98%

7.50%

7.97%

7.86%

15.93%

17.22%

18.75%

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

100.00%

80.00%

60.00%

40.00%

20.00%

0.00%

N~

1P rp rp IVT P

pT Page 18 n

('Fning Floor '

J

.4"*(

t*4*

Ii.414 1.J I,

~

..F.u i:

.. I...

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

Surmmary 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-W24/9 swu5R~on-m99 dst

OUTJIERN CALIFORNIA PUBLIC POWER AUTHORITY

'alo Verde Project - Termination Cost Funding UNIT I VRIM LA Ptym czommmnmi DmZ' UIAUZA PMmfnmumcn m=

BAA M

hnmu EC 3.,

1990 INm 30, 1991

,UC 3, 1991 PIN 30, 1992

,PC 3 2, 1992 1Pn 30, 1993

'EC 3 3, 1993 uN 30.

1994 lEC 3 1, 2994 I1N30.

1995

'FC 31, 1995 N N30, 2996

FC3I, 1996 T 30.

1997 I-C31, 1997 f 130,

1993

FC31, 1993 N 30, 1999 FC 31, 1999

14N30, 2000

PC31, 2000 I1N30.

2003 FC3I.

2001 N 30, 2002

PC31, 2002

I1430, 2003

'C31, 2003 IN 30, 2004

rC3I, 2004

'N 30, 2005 PC 3I, 2005 I 30.

2006

EC31, 2006 IN 30, 2007 "2C31, 2007 N1430. 2003

C31, 2003

'N 30.

2009 "7C31, 2009 SO so 0

0 0

0 0 1,240,620 1.240,620 1,239,330 1,240,620 1,654,160 327,030 U,240,620 285,434 285.434 285,434 215,434 235,434 215.434 2835.434 285.434 235,434 213,434 285,434 235,434 285,4.34 235,434 215.434 235,434 285.434 2835,434 235,434 285,434 238,434 215.434 285,434 124.237.604 3615,26 314.862,930 363.880 15,226.10

29,039 135,197,7721 563,154 15.761,625 791,974 16,553,399 264,949 7,103.347 229,631 7,333,029 16,171 7,349,900 436,265 7,836.165 302.795 9.379.580 244,149 10,864,349 440,971 12,544,700 970,975 14,456,295 204,443 16,336,900 537,723 17,731,693 657,373 19.630,188 670,371 20,535,993 703,012 21,574,440 736,767 22,596.641 771.675 23,653,751 107,776 24,746.961 345,109 25,t77,504 113,717 27,046,655 923,643 23,255,733 964,933 29,506,101 1,007.633 30,799,169 1,051,792 32,136,395 1.097,458 335.19.237 1,144.684 34,949,405 1,193,522 36,428,362 1,244,029 37,957.125 13296.260 39,539,519 1.230,275 41,175,221 1,406,1234 42,366,797 1,463,903 44,616,133 1.523,641 46,425,203 1.515,421 48,296.063 1,649,311 50,230,301 so 0

0 0

0 1,280,640 3,20,640 3,279,360 1,276,640 1,703,520 353,760 1,276,640 295,723 295,723 295,723 295,723 295,723 295,723 295,723 295,723 295,723 295,723 295,723 295,723 295,723 295,723 295,723 295,723 295,723 295,723 295,723 295,723 295,723 295,723 S15,396,791 30

$1,440.621 16.137,412 514,317.900 11,117,240 15,305,140 443.094 15.943,234 147,301 16.095,535 623,452 16,712,987 711,934 17,430.921 593.006 7.962.40)

-345.413 7.616,990 9,010 7.626,000 609,310 1.235,1210 233.314 9,749,764 132669 11,163,073 453,767 12,896,400 636,720 14,359,750 191,930 16,755,200 540,181 12,149.141 594,163 20,019.944 683,681 20.999,343 717,128 22,012,199 751,717 23,059,639 737.48 7 24.142,849 324,471 25.263,050 362.733 26.421.507 902.294 27.619,524 943,207 28,8358,454 935,5316 30,239,694 1,029,271 31.464.683 1,074,519 3.1234,930 1,121,313 34.251,966

!,169.705 35.717.394 1,219,749 37,232,866 1,271,502 383800.092 1,325,023 40,420,133 1.380,372 42,096,933 1,437,610 43,330,266 1,496,304 45,622,793

.531.012 47.476.534 3,621,324 49.393.531 1,636,791 51.376.093 0

0 0

0 0 0

1,430,740 2,430.740 1,479,260 1,480.740 1,974.320 937,160 1.480,740 367.906 367,906 367,906 367,906 367,906 367.906 367,906 367.906 367,906 367,906 367,906 367,906 367,906 367,906 367,906 367,90 367,906 367,.9 367.906 367,906 367.906 367,906 385.474 17,222.386 297,431 17.520.367 933,293 13,453,665 1,02,1171 19.534,343 136.679 7,830,305

-133,556 7,676,749

.12,449 7,664,300 5713102 1.242,402 261,846 9,914,981

-29,451 11,446,277 411,663 13.337,200 612,114 15,500,054 142,126 17,616.500 726,204 19,329.864 593,888 21.404,492 730.963 22,503,361 762,490 23.639,736 307.293

.24.14,959 347,431 26,030.296 338.935 27.237,136 9312,56 21.36.197 976,243 29.931,045 1,022.145 31,321,096 1,069,613 32,7538617

,2 211,707 34,245.229 13.69,475 35,782.609 1,222,976 37.372,491 1,276,271 39,016,667 1,332,419 40,716.992

,3.90,415 42.475.382 1,450,534 44,293,122 1,512,634 46,174,362 1,576,1354 48,119,122 1,643,261 50,310,295 1,711,950

$2,210,150 1,732.977 54,361,033 1,356,429 56,535,367

$44,022,295 10 3,183,117 47,205.482 0

1,192,441 48.397,930 0

415.743 41,213.671 0

2.320,604 50,934,277 0

2,535.016 53.5319.363 0

1,026.634 22.896.055 0

.269,217 22.626,761 0

13,432 22,640.200 0

1,674.177 24,.314.377 4,002,000 797.,95 29,114.332 4,002,000 357,367 33.473,699 3,993,000 h.306.601 33,778.300 3.991.000 2,039,99 44,136,099 5.332,000 540.501 50,638.600 2.66,,000 1,154.091 55,210.698 3,993,000 1 845.926 61,054.624 949,063 2,025,015 64.08,'70) 949,063 2,133,629 67,226,395 949,063 2.295,731 70.471.240 949,063 2,406.593 73,826,896 949,063 2,522,231 77.297,147 949,063 2.639,691 10.885,902 949.063 2,762.254 14,597,225 949.061 2,1.33995 18.435,281 949,063 3,020.065 92,404,412 949,063 3,1355,611 96,509,085 949,063 3,295,715 100,753,934 949.063 3,440,747 105,143,744 949,061 3,590.659 309,633.466 949,063 3,745,690 114,373,220 949,063 3.906.016 119.233.299 949,063 4,071,317 124,254,179 949,063 4.243,230 129.446.523 949,063 4.420,599 134.216,185 949,06) 4,603,973 140,369.221 949,061 4,793.609 146,111,893 949,063 4.919,721 152.050.677 949,063 5,192,5331 15,192.271 Page 10 UNI 2 UNIT 3 GRAND TOTAL 26 27 25 22 22 21 AJ I*RAND TOTA

UNITi UNIT3

-GRAND TOTAL EEM amuimml 49 s0 51 52 53 54 55 56 57 52 59 60 61 42 63 64 65 67 68 69 70 lawn aRaLAW 2835,434 235,434 2135,434 285.434 235,414 285.434 285.434 215.434 235,434 235,434 285,434 285.434 285.434 285.4)4 235,434 285.434 285,434 215.434 2135.434 215.434 215.434 235.434 1,715,382 1,783.710 1,854.371 1,927.446 2.003,015 2,031.166 2,161,985 2,245,565 2,531,993 2,421,384 2,513,m22 2,609.416 2,701,275 2,310,511 2.916,237 3,025,574 3,131,645 3,255,571 3.376,503 3,501.558 1,630.134 3,764,626 52,231,625 54,200,769 56,"0,573 53,653,455 60.941,905 63,308.506 65,755.926 68,236,925 70.9.0153 73,611,176 76.410,432 79,305.213 12,293,993 85.394,938 38,15.610 91,907.619 95,331,698 91,172,7I0 102,534,641 106.321,640 1i0,237.959 114,281,020

, LL.AAfUU ULM DM Z

47 295,723 48 295,723 49 295,723 50 295,723 51 295,723 52 295,723 53 295,723 54 295,723 55 295,723 56 295,723 37 295,723 53 295,723 59 295.723 60 295,723 61 295,723 62 295,723 63 295,723 64 295,723 65 295,723 66i 295,723 67 293.723 61 293,723 69 295.723 70 295,723 1,734,494 1,824.509 1.896,914 1,971.793 2.049,229 2.129,309 2,212.124 2,297,767 2.336.334 2,477.927 2.572.647 2,670,602 2.771,902 2.16.661 2.984,999 3.097,034 3,212.897 3.332,717 3,456,623 3,514,771 3.717.289 3,354.134 3,996.053 4,142,623 HAI.AMM 53,426.312 55,546.,44 57,739,182 60,006,691 62,351.650 64,776,682 67.284.529 69.878,019 72.560,076 75.333,726 73,202.096 11,168,421 84.236,045 17,401,429 "90,689,151 94,081,903 97.590,529 I01,211,969 104,971,319 108,85I.123 112.164,326 117.014,183 121.30t.664 125o745.010 45 367,906 46 367.9"6 47 367,906 43 367,906 49 367,906 50 367,906 51 367.906 52 367.906 53 367.906 54 367,906 55 367.90G 56 367,906 57 367,906 St 367.906 59 367,906 60 367.906 61 367,906 62 367,906 63 367.906 64 367.906 65 367,906 66 367,906 67 367,906 63 367,906 69 367,906 70 367.906 1.92.3"90 2.010.945 2.092,113 2,176.195 2.263.076 2,352.924 2,445,341 2.S41,930 2,641i,30 2.744,065 2,850,339 2.960,242 3.073,398 3,191.436 3,312,988 3,438.690 3,568,685 3.703,120 3,842.145 3.985.919 4,134.602 4,281,362 4.447,374 4.611.16 4,711,173 4.957.731 58,335,663 61,264,514 63,724,601 66,261,703 68,899,685 71,620,513 74,434.261 77,344,097 10,353,303 83.465.274 86.623,.51 "90.0 1,666 93.453,470 97,012,112 100,693,705 204.500,300 108,436.191 112,507,916 116.717,967 121,071.791 125,574,298 130,230,566 135,045,146 140,025,567 145.175,545 1 0,500,939 949.063 949,063 949,063 949.063 949,063 949,063 949,063 949.063 949.063 949,063 949.063 949.063 949.063 949,063 949,063 949.063 949,063 949.063 94,06) 949,063 949.063 949,063 663.629 663.629 367.906 367,90.

nImtlfy Z7XA.

3.402,266 164,543.600 5.619,164 171,111.127 5,843,469 177,904.359 6,075,434 184,928,856 6,.315,320 192,193,240 6.563,399 199,705,702 4,119,950 207,474,715 7.035,262 215,309.040 7,359.634 223.317,737 7,6.43.176 232,410.176 7,936.801 241.296,047 8.240.260 250,435,370 8,554.073 259,983,530 8,873,603 269.816,179 9,214,223 279,979,465 9.561,299 290,489,327 9.920,223 301,359,113 10,291,414 312.599,595 10,675*,276 324,223,934 11.072,247 336,245,245 1I,432,T75 343.677.033 11.907.322 36I,533.469 3,441,432 256,352,510 1,754,433 265,770,577 4.721.173 145,175,343 4.957,731 I 50.500.939 Page 11 Palo Verde Project - Termination Cost Funding UNIT!I JUN 30, 2010

DEC31, 2010 JUN 30.

2011

DEC31, 2011 JUN 30.

2012

DEC31, 2012 "UN 30.

2013 DEC3,.

2013

JUN30, 2014 DEC31.

2014

JUN30, 2015 DEC31.

2015 JUN 30, 2016

DEC31, 2016

JU30, 2017

DEC31, 2017 JUN 30.

2011

DEC32, 2013 JUN 30, 2019 DEC31.

2019 JU 30, 2020 DEC31.

2020 JUN 30, 2021

DEC31, 2021

JUN30, 2022 DEC 31.

2022

SCPPA PALO VERDE UNIT 1 FUNDING PLAN 100%

80%-- -

A*.TL AL

,r J

70%-

A" Tr uJ 60%

tv z

u. 50% --

oF Jr" w

10 tu 40%

,,,i1 30% -998 FUNDINGSTATUS AMOUNT PERCEN1 COMMITTED

$12,686,000 40%

20%- X 1

ACTUAL

$19,630,000 62%

10%-FLOOR

$10,149,000 32%

1991 1994 1997 2000 2003 2006 2009 2012 2015 2018 2021 2024 YEAR PAGE 12

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

(t-Z, )

2)O)(4)

(5) =(j * )

(d) - (114)

(7)

(t)- (2)

M* - (71 t)

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

%AFUNDED CRITERIA PERCENT AMOUNT FUND EST. COST

%FUNDED DEC 1991 S4,2253 S i16.565 26%

80%

20%

S3,380 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 12686 31,716 40%

80%

32%

10149 19630 31.716 62%

DEC 1999 14,792 33,618 44%

80%

35%

11,834 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 114,288 114,288 100%

100%

114,288 DEC 2021 120,002 120,002 100%

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%

70%

50%

FOR 80%

1998FUNING STAT US ACTUAL

$20.020,000 61J 10%

-FLOOR

$11.324,000 34 10%

1 C(

I*

EI I

1991 19 199 200 20 00 j

09 212 21 08 01 22 YEAR PAGE 14

SOUTHERN CALIFORNIA PUBLIC POWER AUTIIORITY 1998 PALO VERDE UNIT - 2 FUNDING STATUS TERMINATION COST FUNDING (S THOUSAND)

DE DE DE DE DE DE DE DE DE DE DE DE DE DE DE DE DE DE DE DE DE DE DE DE DE DE DE DE DE DE DE DE DI DE DE (I)"(2x2) '

(2)

(1)

(4)

(5) -0 a 4)

(6)=(1z4)

AUTHORIZED FUNDING PLAN FUNDING FLOOR CURVE YEAR FUND EST. COST

%FUNDED CRITERIA PERCENT AMOUNT C

1991 S3,966 S16,423 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 8,568 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 14,155 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 7C 2007 39,488 55,617 71%

82%

58%

32,380

C 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

.C 2014 72,756 83,628 87%

89%

78%

64,753

C 2015 79,781 88,645 90%

90%

81%

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

91%

83%

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

92%

86%

86,136

":C 2018 100,299 105,578 95%

93%

89%

93,278

C 2019 108,555 111,913 97%

94%

91%

102,042

.C 2020 117,441 118,627 99%

95%

94%

111,569

C 2021 125,745 125,745 100%

100%

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

100%

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

100%

138,634 EC 2024 145,565 145,565 100%

100%

145,565

-C 2025 152,844 152,844 100%

100%

152,844 EC 2026 160,486 160,486 100%

100%

160,486 ACTUAL FUNDING FUND EST. COST

%FUNDED

$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%1 Page 15 f

l

Revised SCPPA PALO VERDE UNIT 3 FUNDING PLAN 100%

90%

80%

70%

S60%

z 50%

z 240%

30%

20%

10%

0%

1997 2000 2003 2006 2009 YEAR 2012 2015 2018 2021 2024 2027 Page 16 CIUAý 3-98FUNDIING STATUS---

AM0 PUERCENT COMMITTED

$14,868,000 40%

FLOOR

$11.89 5,000 32%

1991 1994

SOUTFIXRN CALIFORNIA PUBLIC POWER AUTIIORITY 1998 PALO VERDE UNIT-3 FUNDING STATUS TERMINATION COST FUNDING

($ THOUSAND)

(1)-(2 it3)

(2)

0)

(4) 0)(5 1)

(--1*

(I) at-2 M9-011)

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

%FUNDED CRITERIA PERCENT AMOUNT FUND EST. COST

%FUNDED DEC 1991 S3,098 S18,225 17%

80%

14%

S2,478 S17,223

$18,225 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%

11895 21.404 37.170 58%1 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 66,391 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 116,254 126,363 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%

150,501 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 192,081 192,081 100%

100%

192,081 P,,po 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

,7sy.*PC"199 q

pJ,1 V2O41

Department of Water & Power P21o Verde Project Termination Coat Funding Unit I Unit 2 Unit 3 Gad Total Pt i!trimI C 2nnhhasnn Intcs DtIbnne Pl izie Conotribution luieru Bi hns eriod Gnki~M Jnzmn 11Ihnen Iniuui l at 12/31/90 10 2,444,200 8

2,159,244 6

1.493.407 0

0 6,096.851 6/30/91 11 223,326 106,706 2.774,232 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 10 232,478 490,438 3,220,418 8

270,890 432,437 2,539,524 726.694 1,351.816 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/Pn3 15 "45,545 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 12 462,987 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 1,309,790 169,853 16,604,453 12/31/94 18 431,919 (131,334) 6,205,700 16 414,884 (120,146) 5,941,600 14 462,987 (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 15 462,987 295.915 6,114,502 1,309,790.

1.040.729 10,853,419 12/31/95 20 1,755,562 262,538 9,060,617 18 1,669,739 235,585 8,601,724 16 2,884,499 181.886 8,180.887 5,309.800 680,009 25,843,228 6/30/96 21 1.755,562 260,302 11,076.481 19 1,669,739 197,615 20,469.078 17 1,884.499 152,131 10,217,517 5,309.800 610,048 31,763,076 12/31/96 22 1.593,396 258,223 12,928,100 20 1,753,112 211.610 12,433,800 28 1,963.492 150,991 12,332,000 5,310.000 620,824 37,693,900 6/30/97 23 2,593,396 247,064 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 2,963.492 399.527 16,843,323 5,310,000 1.549,250 50.533,228 6/30/93 25 1.593,396 738,933 19.260158 23 1753112 794564 19309,752 21 12963,492 549,326 19.356141 5310000 20828,23 57926,051 r 12/31/98 26 1593296 996208 21849762 24 1753112 653844 21716708 22 1963492 511 71 22831004 5 10000 2161423 65 97474 6/30/99 27 (121,521) 764.742 22.492,983 25 (98,718) 760,085 22.378,074 23 (11,968).

764.085 22,583.121

-(232.208) 2,288,912 67,454.178 12/31/99 28 (121,521) 787,254 23,158,716 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) 2,435.40d 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 26,853,639 31 (98,718) 911.707 26,861.746 29 (21.968) 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) 2,133.066 33.407.671 36 (22.968) 1.188,246 35,126,163 (232,208) 3.448,802 101,753,802 6/30/06 41 (121,521) 1,162,699 34.261,146 39 (98,718) 1,169,268 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) 1.206,738 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 (11.968) 1,316.128 38,907,828 (232,208) 3,798,504 112,094,970 12/31/07 44 (121,521) 1,275,894 37,608.474 42 (98.718) 1,285,656 37,919,978 40 (11.968) 2,361,774 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 (11.968) 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 DAte Peod Contrbutio

=

Oa Unit I I

=

Unit 2 i

Unit 3 1

I!td Contibution rrit MJancet Nod Contribution te flance Grand Total S/attblnhr2U Itaht I.358,114 40,039,843 1,401.395 41,319,717 1,446,190 42,644,386 1,492,554 44,015,419 1.540,540 45,434.437 1,590,203 46,903,122 1.641,609 48,423,210 1.694,812 49,996,502 1.749,878 51.624.859 t,806.870 53,310,208 1,865.857 55,054,544 1,926,909 56,859,933 1,990,098 58,728,509 2,055.498 60.662,486 2,123,187 62,664,153 2.193,245 64,735,877 2,265,756-66,880,112 2.340,804 69,099,395 2,418.479 72,396,353 2,498,872 73,773,705 2,582,080 76,234,264 2,668,199 78,780,942 2,757,333 81,416,754 2,849,586 84,144,820 2,945,069 36,968,368 44 45 46 47 48 49 5o 51 52 53 54 55 56 57 58 59 60 62 62 63 64 65 66 67 68 69 70 (98,718)

(98.718)

(98,718)

(98.718)

(98,718)

(98,728)

(98,718)

(98,718) 1,370.196 40,419,937 1,414,698 41,735,916 1.460.757 43,097.954 1,508.428 44,507.664 1,557,768 45,966.714 1,608,835 47.476,831 2,661,689 49.039.801 2.716.393 50,657,476 1.773,012 52,331,769 1.831,612 54,064,662 2,892.263 55,858,207 1.955.037 57,714,526 2,020,008 59,635,816 2,087,254 61,624,351 2,156,852 63,682,485 2,228,887 65.812,653 2,303,443 68,017,377 2,380,608 70,299,267 2,460,474 72,661,023 2,543,136 75,105,440 2,628,690 77.635,412 2,717,239 80,253,933 2,808,888 82,964,102 2,903,744 85,769.128 3,001,919 88.672,329 3.103,532 91.677,142 3,208,700 94,787,123 42 (2,968) 43 (21,968) 44 (24,968) 45 (11,968) 46 (11,968) 47 (11,968) 48 (11.968) 49 (11.968) 50 (21,968) 51 (11,968) 52 (11,968) 53 (12,968) 54 (11,968) 55 (1,968) 56 (1,968) 57 (21.968) 58 (1,968) 59 (11,968) 60 (11.968) 61 (11,968) 62 (11,968) 63 (12,968) 64 (12,968) 65 (11.968) 66 (21.968) 67 (11,968) 68 (11,968) 69 (11,968) 70 (11,968)

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 12131/1o 6/30/11 12/31/11 6/30/12 12/31/12 6/30/13 12/31/13 6/30/14 12/31/14 6/30/15 12/31/15 6/30/16 12/31/16 6/30/17 12/31/17 6/30/18 12/31/18 6/30/19 12/31/19 6/30/20 12/31/20 6/30/21 12/31/21 6/30/22 12/31/22 (121,521)

(121,521)

(121.521)

(121,521)

(121.521)

(121,521)

(121.521)

(121,S21)

(121.521)

(121,521)

(121.521)

(121,521)

(121.521)

(121,521)

(121,321) 1,457,914 2,508.522 2,560,901 1.615,114 2,671,224 1,729,298 1.789,405 1,851,615 1,916,003 1,982.644 2.052,617 2.123,005 2,196,891 2,273,364 2.352,513 2,434,432 2,519,218 2,606,972 2,697.797 2,791.801 2,889,095 2,989,794 3,094,018 3,201.890 3,313,537 3,429,092 3.548,691 3,672,477 3,800,594 43,100.629 44,597,182 46,146,115 47,749,261 49.408,517 51.125,847 52,903,283 54,742.929 56.646,964 58,617,639 60,657,288 62,768,325 64.953,248 67,214,643 69.555.187 71,977,651 74,484,900 77,079,903 79,765,731 82,545.564 85,422,690 88,400,526 91.482,566 94,672,487 97.974,056 101,391,180 104.927,903 108,588,411 112,377,035 (232.208)

(232.208)

(232,208)

(232.208)

(232,208)

(232.208)

(732,208)

(232,208)

(110,687)

(11,968)

(11,968) 4,186,224 4,324,614 4,467,849 4,616,096 4,769,532 4,928,338 5.092,703 5,262,820 5,438,892 5,621.126 5,809,738 6.004,951 6,206.997 6,416,115 6,632,552 6,856,564 7,088,416 7,.328,384 7,576.750 7,833,809 8,099,865 8,375,233 8,660,239 8,955,220 9.260.525 6,532,623 6.757,391 3,672,477 3,800,594 123,560,408 127,652,815 131.888,456 136,272,344 140,809,668 145,505,799 150,366,294 155.396.907 160,603,591 165,992,509 171,570,039 177,342,783 183,317,573 189,501,480 195,901,825 202,526,181 209,382,390 216.478,566 223,823,108 231,424,709 239,292.366 247,435,391 255,863,422 264,586,434 273,614,752 193,068,321 199.715,025 108,588,411 112,377,035 L

U.....

I I

DWP PALO VERDE UNIT 1 FUNDING PLAN 10o0%

1 1

1 L

I I

1 _1 I

I I

1001 1

780800 40%

/IZ, 10 91ACTUAL 21,850 FLOOR 82800 0Of/*

I 1

I -

1 1

1 9 9 1~

l Y 9 4 1 9 9 7 2 0 0 0,n t

m~

.l ol 201 201 2021 2024 Year Page 12

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

(1)

(2)

(3)

Authoried Punding Plen (2)nd X)Y (2 X (3)

(4)

(5)

(6)

Fund;n.t Floor Curve Cnte O) fcnx S AmounX (3) X(4)

(1) X(4)

(7)

(3)

(9)

ActIe Funding Eun E&LCos2.

Funded (7)/(8) 3,261 15,677 4,330 25,832 5,513 27,124 6,780 28,480 6,934 25,682 8,359 26.966 9,627 28,314 11,000 29,730 12,487 31,217 14,094 32,777 15,832 34,416 17,707 36,137 19,731 37,944 21,913 39,841 24,263 41,833 26,794 43,925 29,518 46,121 32,446 48,427 35,086 50,849 38,442 53,391 42,045 56,061 45,914 58,864 50,064 61,807 53,865 64,897 58,602 68,142 63,679 71,549 69,116 75,127 74,150 78,883 80,342 82,827 86,968 86,968 91,317 91,317 95,883 95,883 100,677 100,677 105,711 105,711 110,996 210,996 21%

17%

20%

24%

27%

31%

34%

37%

40%

43%

46%

49%

52%

55%

58%

61%

64%

67%

69%

72%

75%

78%

81%

83%

86%

89%

92%

94%

97%

100%

I 00%

I00%

100%

80%

80%/

W/o 80%

80%

800/.

80/%

81%

82%

83%

84%/

85%

86%

87%

88%

89%

90%

91%

92%

93%

94%

95%

96%

97.,.

98%

99%

100%

900%

17%

13%

16%

19%

22%

25%

27%

301/9 32%

34%

37%

39%

42%

44%

47%

50%

53%

56%

59%

62%

65%

69%

72%

75%

78%

82%

86%

88%

920/

96%

97%

98%

99%

100W/

I 00%

2.609 3,464 4,410 5,424 5,547 6,688 7,702 8,800

.9,989 11,275 12,665 14,166 15.785 17,530 19,653 21,971 24,500 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 99,670 105,711 110,996 3,426 15,677 22%

4,306 25,832 17%

5,362 27,124 200/6 6,206 28,480 22%

9,061 25,682 35%

12,928 26,966 48%

16,928 28,314 6061 21.850 29.730 73%1 21,850 29.3039 palrn.

I1 DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025

DWP PALO VERDE UNIT 2 FUNDING PLAN 10010i 90%T, 1oI mED ----

FLOOR ACA L

p 1-998 FUNDING STATi 3o..*/*J

*-SAMOUNT 10%-------------------------FLOOR 8,888 1991 1994 197n

nni

,nnn UJ',

CU'a Year Page 14 2021 2024

ff

.4UJ.7

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

(i)

(2)

(3)

(4)

(5)

(6)

(7)

(5)

()

Authotized Funding Plan Fundin Floor Curve Actual Fundan, Mmmb YSU lund E&ý afud~dý rdimn Irerc~ Lm on EUn4 E&L C iDnd (2) X (3)

(3) X (4)

(1) X (4)

(71(8)

DEC 1991 3,055 15.542 20%

80h 16%

2,444 3,220 15,542 21%

DEC 1992

'4.104 25,418 16%

80%

13%

3.283 4,118 25,418 16%

DEC 1993 5,237 26,689 20%

80%

16%

4,190 5,222 26,689 20%

DEC 1994 6,449 28,023 23%

80%

18%

5,159 5,942 28,023 21%

DEC 1995 6,931 26.658 26%

80'h/

21%

5.545 8,602 26,658 32%

DEC 1996 8,397 27,991 30%

80%

24%

6.718 12.434 27,991 44/

DEC 1997 9.699 29.390 33%

801.

26%

7.759 16.762 29.390 57%

r DEC 1998 112220 30860 36%

80%

29%

8888 21717 30860 70%

DEC 1999 12,637 32,403 39%

80%

31%

10,110 DEC 2000 14,290 34,023 42%

80a 34%

11,432 DEC 2001 16,076 35.724 45%

80%

36%

12,861 DEC 2002 18,005 37,510 48%

80M/

38%

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

809/

41%

16,069 DEC 2004 22,332 41,355 54%

80%

43%

17,865 DEC 2005 24,317 43,423 56%

80%

45%

19.454 DEC 2006 26,901 45,594 59%

81/%

48%

21.789 DEC 2007

.29.682 47,874 62%

82%

51%

24.339 DEC 2008 32,674 50,268 65%

83%

54%

27,119 DEC 2009 35,363 52,781 67%

84%

56%

29.705 DEC 2010 38,794 55,420 70'/

85%

60,4 32.975 DEC 2b11 42,479 58,191 73%

86%

63%

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

87%

66%

40,400 DEC 2013 50,041 64.156 78%

88%

69%

44,036 DEC 2014 54,564 67,363 81%

89%

72%

48.562 DEC 2015 59,415 70,732 84%

90V/

76%

53,473 DEC 2016 63,871 74,268

86.

91%

78%

58.122 DEC 2017 69,404 77,982 89%

92%

82%/,

63.851 DEC 2018 75,330 81,881 92%

93%

86%

70,057 DEC 2019 81,676 85,975 95%

94%

89%

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

95%

91%

82,329 DEC 2021 94,787 94.787 100%h 96%

96%

90.996 DEC 2022 99,526 99,526 1000/.

97%

96,541 DEC 2023

.104,503 104,503 100.h 98%/

98%

102,413 DEC 2024 109.728 109,728 1004/9 99%

99%

108,631 DEC 2025 115,214 115.214 100%

100%

115,214 DEC 2026 120,975 120.975 100%

100 /.

100%

120,975 Page 15

DWP PALO VERDE UNIT 3 FUNDING PLAN 100%4 "O--COMMITTD --tFLOOR *ACt.AL 90% --

I 70%

oeý

'jel 4i 60%*I.

1 1 1 1

~I40%

I 30"4

Jr*

,A rj1998 FUNDING STATE 30%oI-

ý ioi r$AMOUNTF 20%

COMMITTED 11,499 1

ACTUAL 21,831 FLOOR 9,199 1991 1994 1Q07 7nnn

,uu..

.. uv

.4UUO 2009a Year Page 16 2012 2015 2018 2021 2024 2027

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

M~nth Ym (1)

(2)

(3)

(4)

(S)

(6)

(7)

(8)

(9)

Authaorzed Funding Plan Puncl;ng Ploor Curve Actual Funding Fund E&.ra %Eune n i I

Fund E

%FLunded (2) x (3)

(3) X (4)

(1) X (4)

(7)/(8)

DEC 1991 2,452 17,248 14%

DEC 1992 3,452 27,160 13%

DEC 1993 4,636 28,518 16%

DEC 1994 5,905 29,944 20%

DEC 1995 6,923 30,100 23%

DEC 1996 8,217 31,605 26%

DEC 1997 9,956 33,185 30%

DEC 1998 21499 34,845 33%

DEC 1999 13,171 36,587 36%

DEC 2000 14,982 38,416 39%

DEC 2001 16,941 40,337 42%

DEC 2002 19,059 42,354 45%

DEC 2003 21,346 44,471 48%

DEC 2004 23,814 46,695 51%

DEC 2005 26.476 49,030 54%

DEC 2006 28.829 51,481 56%

DEC 2007 31,893 54,055 59%

DEC 2008 35,190 56,758 62%

DEC 2009 38,737 59,596 65%

DEC 2010 41,926 62,576 67%

DEC 2011 45,993 65,705 70%

DEC 2012 50,363 68,990 73%

DEC 2013 55,054 72,439 76%

DEC 2014 59,328 76,061 78%

DEC 2015 64,690 79,864 81%

DEC 2016 70,440 83,857 84%

DEC 2017 75,723 88,050 86%

DEC 2018 82.283 92,453 89%

DEC 2019 89,309 97,076 92%

DEC 2020 96,833 101,929 95%

DEC 2021 104,885 107,026 98%

DEC 2022 112,377 112,377 100W/

DEC 2023 117.996 117,996 100%/,

DEC 2024 123,896 123,896 100%

DEC 2025 130,090 130,090 100%

DEC 2026 136,595 136,S95 100%

DEC 2027 143,425 143,425 100%

80%

80/o 80/

80%

80%A 80%

80%

8O%

80%

80'0/

80%

82%

83%

84%

85%

86%

87%

88%

89%

90%

91%

92W 93%

94%

95%

96%

97%

98%

99%

100%

11%

1,962 100/.

2.762 13%A 3.709 16%

4,724 18%

5,538 21%

6,574 24%

7.964 26%

9,199 29%

10,537 31%

11,986 34%

13,553 36%

15,247 38%

17.077 41%

19,052 43%

21,181 45%

23,064 47%

25,514 SO%

28,504 53%

31.765 56%

34,798 59%

38,634 62%

42,808 65%

47,.346 68%

51.615 71%

56,927 75%

62,692 77%

68,151 81%

74,878 85%

82,165 88%

90,055 92%

98,592 95%

106,758 96%

113,276 97%

120,179 98%

127,489 99%

135,229 100%

143,425 2,540 17,248 3,438 27,160 4,542 28,513 5,356 29,944 8,181 30,100 12,332 31,605 16,843 33,185 21.831 34.84S 2183 34.45 Page 17 15%

13%

16%

18%

27%

39%

51%

63%*

OektedperAPS Letter 102-04823, datedAugust 1, 2022 I

Application Withheld

,ng Information be iblic Disclosure

Detedper APS Letter102-04823, datedAugust 1, 2002 STATE OF ARIZONA

) ) ss.

9kOUNTY OF MARICOPA )

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

hereby affirm and state:

1.

1 am aut rized to execute this affidavit on behalf APS.

2.

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

APS is providing on behalf the Participants in Palo Verde Nuclear nerating Station a compil ion of information regarding decommissioning rnding (Appendix A, 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 p suant to0 CFR § 2.790, because:

i The compiled informa oprovided 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 rationa 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 y available information.

v Public disclosure of this information would create s stantial harm to the competitive position of APS by disclosing sensi ve 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.

DeVte'dper APS Letter102-048=3, datedAugust 1, 2002

3.

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

/

Sworn To Before Me Day of 1999.

v -Notary Public My Commission Expires OFFIcAL SEAL NORA E. MEADOR No4ary Pubic - StWfe of kazori MARICOPA COUNTY My Comm Exphrs AM 6.19g*9 r

=.

k

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

10 CFR 50.75(f)(1)

Palo Verde Nuclear Generating Station Gregg P. Overbeck Senior Vice President Nuclear Mail Station 7602 TEL (623) 393-5148 P.O Box 52034 FAX (623) 393-6077 Phoenix, AZ 85072.2034 102-04550-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 50-5281529/530 Status of Decommissioning Funding In accordance with the requirements of 10 CFR 50.75(f)(1), Arizona Public Service Company (APS) is submitting the status of the decommissioning funding for PVNGS Units 1, 2, and 3. 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.

Plo'6e nRte that thG information prOVided, inR Appo-dix A* to Enlo,,uro 1 is-a p~ur-suant to 10 CFR 270()(

is pro'.'ided ar, Enlecure 2. DeeeprPSLte

... -~~dateadAugust i, 202 This letter does not make any commitments to the NClU.

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

Sincerely, 02-04823, i

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

Enclosures:

1. 2000 Decommissioning Funding Status Report for Palo Verde Nuclear Generating Station Units 1, 2 & 3 9

DepetedperAPS Letterl102-04823, datedAugust 1, 2002 cc:

E. W. Merschoff w/ Enclosures J. N. Donohew w/o Enclosures J. H. Moorman w/o Enclosures A. V. Godwin [ARRA]

w/o Enclosures R. S. Wood 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.

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) 5.70 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 eamings 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)(1l(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 & Illsley 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. Bemstein &

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

DefetedfperAPS$Letter102-04823, datedAqugst1, 2002 COrNFIDETIAL INFORMATION -- 10 r.. 2..790.

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

($M)

PartiriantS

%-0WnerhiJ)

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 11)

Site Specific E.ghatre NRC (1)

Basic Radiological EstiMate 162.26 97.52 88.10 88.10 56.87 32.95 31.78 557.58 123.53 74.25 67.07 67.07 43.30 25.09 24.20 Total Nuclear Decommissioning I=a (As of 12131/001 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 PJl 2120M1 Years To End Of Operating License (12/31/2024 "24 24 24 24 24 24 24 I

KCM - AP i f A PS 2001 50 75f) epr

Debktedper APS Letter 1O2-O4823, datedAugust1, 2002 GOtNrIBENTKEL NF~O~RMAT~orN -- 10 CFR 2.79 Unit 2 Appendix A, Tab 2 Palo Verde Nuclear Generating Station

($MO PankJpants YawnezshD 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 (1)

Site Specific Estimatis 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 T*ht (As of 12/31100) 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 ContfbitdimnnL 4.07 1.43 1.52 4.32 1.52 2.64 0.00 15.49 (1) - Decommissioning Cost Study for PVNGS, prepared by TLG Services, Inc. (December, 1998)

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

(7) - Section 2.2.1 of PNM 2000 Annual Funding Status Report (8) - Section 2.2.1 of SCPPA 2000 Annual Funding Status Report (9) - Section 2.2.1 of LADWP 2000 Annual Funding Status Report PJH 3/2001 Years To End Of Operating (12/912025) 25 25 25 25 25 25 25 I

KCM - App--- %o APS 2001 60.7t514 R-p-

Dktedjper APS Letter102-04823, datedAugust1, 2002 eoNFl!IBfl7TIAL ilJFORIATION -_ io cm

,79 Palo Verde Nuclear Generating Station Unit 3 (0M)

Appendix A, Tab 3 51Qwnu-ShIO Total (1)

Site Specific Esfimate NRC (1)

Basic Radiological Estimaie-Total Nuclear Decommissioning Infst (As of 121311/00)

Fiscal (2)

Year 2000 CantdhuflW3s Arizona Public Service Company Salt River Project Agricultural Improvement and Power District El Paso Electric Company Southern California Edison Company Public Service Company of New Mexico Southern California Public Power Authority Los Angeles Department of Water and Power 29.10 %

17.49 %

15.80%

15.80 %

10.20 %

5.91 %

5.70 %

TOTAL 100.00 %

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 60.71 (3) 41.08 (4) 17.68 (5) 166.83 (61 18.33 (7) 30.12 (8) 26.23 (9) 485.73 360.78 3.57 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, 1998)

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

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

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

KCM - Appwdia* to A"'* 2001 60 76(fl Rowt Partrlants Years To End Of Operating (3/25/2027) 26 26 26 26 26 26 26 VV J..........

PJ" 3120/01

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)

PJAg 3MQO200 I

Appendix B, Tab I 15OON}'

ARIZONA PUBLIC SERVICE COMPANY ANNUAL FUNDING STATUS REPORT FOR THE YEAR ENDINGDECEMBER 31, 2000 EXHIBIT E As~mmpftions.-use-d by-Alas in Decmmisslonina Funding Tables and Curves:

Decommissioning Costs:

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

Escalation factor of 5 00% Annually After Tax Rate of Return For Assets In Trust:

Annual Rate of Return Is 6 75%

Contribution Assumptions:

All contributions made quarterly W FXCF1iWct-0wSR00

ESTIMATED ANNUAL COSTS UNIT ONE FV 0.11.06 vw IVO.61 S,.PVILI4, I

to I0 12 17 3

14 0 0471 07041 9%

4006 54M1501)4 is141o4011 74,5049441 3044S141 Is4WD4042 734129434 t 4499336 73423506 To6on4123 230lit444 is4I tot6 233;29a44 31415300 if0M94404 "AMS a"00lsilA 011324 314304 is5414314 42no4ON 1479463ll 4 311464 0411614o 409111 11944391 3010301I 141094603

$42255722 241 0be4 IS? Sig &100 it"4 0

l00i 3

3004 a

3001 1

2007 Il "to It 2011 12 lot?

i4 24013 is 2014 of pets 17 Food to "if1 19 "is1 20 3019 21 7020 23 2020 Is 3072 31 2023 3

3024 20 120"4 Pots it S8440,104 2034 IS 40)43314 207t N9 104 473 441 7024 30 190504013 20211 31 too41"409 3010 32 013344013 "if3 33 14 351194 3013 34 031its1SI 3051 3s 05407233 2034 34 24236%1?s 2031 31 7G114176 1134 36 2313344 2031 20 0451443 130141S354 14114AIRIE WEX IAXCOIN460aATSIVOW11111003Ct 7*411 7074 1.0.0~ vs 14016 I1410411 35 Fit tI 433 437 375Sol 11734%44 24340 o

0111313 41 us 106433eye 43416 111111 3341 41587 204113051 At"?

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6012310411 130844 314 5S70 Totof 1o4144442 t41410241 44 441 we OF ?01 o00

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be4CM 211 43114.441 N4406.314 fez 444.540 109 t31CO II3.144017 00764 4011 it0off 42 03 41 ON00 0302 on14 03440409 1437411S4 110041312 II 610011 04942409 014F As4FI 064)4413 is0201 "1 20,73 25s 13740114

".3020 714 23 at1I,"?

34184744 IS1oil230 V2lo09137 "20444144 n44418on 3 0.3822311 333TS1 374 31440te9?

30310034 20 145127 44913I542 420513,161 44015721 40201643i at 104331s 9111112217 54337544 2911105 321$2.059 3181934 3023220 3074314 3 333 111 3 0" IGO 3614 11S 3,414 442 403 4 a11 4253 "a 4 4444017 40400oi2 4924523 40Ira0T41 64242W 57Fall75s lots144 I It3 0ff 4 S99 330 443034P4 I71S 1173 F1424411 6023 530 6422600 401411F30 474103?

41,00o204 to "1,730 10,74460&

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S10,1413 I4"a4140 4520330 6 ON141 fol7.044 407048149 472213 0 70a4 ISO Y41t i7n IM61F30 4010631 s514317 46we4325 04509742 943011er 104741.239 to09444BI 00 441.034 02120ol 7 01674410 13 03" m is3I414so 146Y34013 is4407293 4 2011249 4 4112ITS 4434014 4411o044 11103S,11 S.2430 6131ll47 I4gig1$?

£211 41 01am3437 4453444" 7.J25 313 7011540 1433.743 6 3"0430 3 140443 4 043 In4 S44433511 100124147 004230 700 if0062231 of0720)44o 02304 304 179216411 43091 13 041434 tS4 0440944I Is1no340 Is4141.704 11.314 no 06 012.104 20046054" 22060440e 32011$464 24420179 4 "1944 4477t644 4 a"4"I Se1203 5 2" Sel a 4,5.44 44942.770 60)44010 44441115 41411,741

?jot1411 S4S7 021 I1a24all a 220.344 443134) of40440 4111.309 Islas1li 10442711 0300Y4111 it3443476 03 0sis ?of 14041.32S 14 7"4"1 062117142 01 94463I0 11 143.W10 04111447 20 1144"0 220404107 36131207 454000t Asia" 404 I1s W7 4416 9541105 US1911 601312

$44011 11711:111 112 "10 7419043 141i22 624 417 4457322 "404an3 041440 4003 too 01851 1.104 NO 00IN0ISO 02141fir 03400 04 480 1141 1632441 O "1 ?111 7C3 06424 I3it10 11, 3I0 MU IW 2132442 2143024 3431440 3 7074wig 32034 44 3313093 36"1030 111970144 47123001 533033 6454403 11083 333 1109 334 8092320 9422041 9443,494 to0224244 is0141931 131111417?

030410427 04 1634 010 10204140 344315 113 04156060l

" 4510443

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

100%

80%

60%

LL 40%

20%

0%

Ji1z1 if 1

1 1

2 2

2 9

9 9

0 0

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1 579 3

5 7

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7 F Year Funded Curve Funded Floor

Actual FIENAM W FEtCEG (COSLAWAtS 4 wvnXwfE 2MM 1

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Arizona Public Service Decommissioning Funding Plan PV Unit #2 1

1 1

2 2

2 9

9 9

0 0

000 0 0 0

00 0

0 0

00 0

0 0 0

9 9

9 0

0 0

1 1

1 2

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-_Year

--+- Funded Curve --

Funded Floor ActualI FOIFAMwE W XCfItW1*OW*AFSROEfWHI hIE Ifsl.I "0i oV 120%

100%

80%

60%

40%

20%

0%

ESTIMATED ANNUAL COSTS UNIT THREE py 13.4*

V.w PitVt

111, 8.. Ptb*

3 06 II 12 17 13 140101 011111228 32141 a" 77347101 70008701 902157940 2318806n 11183)000 231278710o

$ 3)00In 32125000)

F3 1r001" 20402401 to 464 as1 8 F24 820 a107341) 406 111 0380&4804 061848221 a] b I oo 08t" a

08t" I

2000 I

"Of0 3 Po0l 4

1003 8

100.4 a

20IM t

2004 8

2007 8

7008 to 71"0 1t 2010 it "it1 12 "it0 14 "200 is M04 Is 30019 07 "it0 I8 2007 it 3006 30 2008 it 2020 22 1021 73 2022 24 lo2s 20 2024 PI "20" 27 13001776 3028 29 02181.78 2027 38 825410413 20211 30 11128S4000 71031 31 18110)2461 1014 32 110608.738 2031

3) 080 181.304 2032 34 005484181`

2033 21 112611254 3034 38 111041.0111 "10) 3?

03 004082 3038 38 28318"1 203F 39 20411 443 801188010 0611149227 lot28301 a

2024732213 212004836 In)2H8 783 134.248 112 24 0057828 2S 1840an0 270 1333051 we 1 278 204112)0 304 01 000 3n 0of4762 344M 1W0?

30381) 9m 380 7)03ss 400 143 231 1)06137 381 441 SIT 711 4640IN 650 481.216

07) 80 118 88al 1112III am "A Ol04283 883 18t?Il 820600~f447 812ON4SAO 880 848 388 7072420"I 718.24 all 4478012 101 6090011218 524 348 081 4)4 204325 3*8 384 174 254 all 9em 0486105037 14401213 it4An "S 704311443 I3180ON 32am064 3 3818n6 3"1 788 I117t4M 334171) 1744t0IS 3704180 38123411 393)108 41101)1 4 1301)1 4.23is af 4321827 4153364111 405W3Ads 4081g14) a 141 04)

Go0m020 00 me3)0 I12711M0 21,2710 5 )aw fe 1124778 I811 8 I

881aofI S

4 102 a" 8101084 6 8y'1.0s 84701 N

a872784 11727940 70)1 0438o 12 2

I Alt fi 147192 778717st 7737877 4 F 17) a 8171371 6188 741 85141.245 86011S17 I o01107 104")33 14" 3)1 allie12

$$]88s) 40438411 104348)1 "OMANe 1068all46 01

,No 3 1150431111 is 060"I08 02011 os 1784 18 10 054107o 2108)48) 72111827 732731 So@

24 3816a" 21101,03.4 184"0 0in Is82n 02n 288137 i2n 10fig $W10 3767ll1 48 34302202 38020)30 27871188 3017t$641 41 702 too 4)1767824 41871700 As8318078 so6an8so 03.224 374 1160004 so0 t6,8Y2 11813M 84884018 IF8sit8M 70 312700 74612038n To6m438 t4 82188a471 is)ed0904 7)27770 1

214 A" ag 24 410801 382137400 t 8423838 it Iwo3M1 18491110 For ee73S 2 718110548 303001

]IS70?77N17 It11 007)1 31 it)

Vot 31 A" Sol 3211)1813 31160027 34 390360a 38818408 38048toit 38184518 378it1408 40 7028) W "fit Ir At)Fl7"I4 A *o601134 846874640a 419910620 47101803) 480am112 AS a1l133 483"a073)

It464 Iwo 08062si70f 541SA8147) 5 1)200Yet 17172807t

-30183.7) 60038604 s 18318 8)043430 I f o 76000 54 w an 84844710 "Itself1 S48ow0621 733W0 to il 149S112 ForPS 211) is1oat8on so184 SASle 8toan409 84616241 6218417M "A8.411113 IS0802604,1 9)381210 91247844 IF9540892 951110.341 102884001 oo am 0511 M0630 gal 2321100) 24017.702 25 934841 248)8517 21241411602 "710"M3 31183162 1371)i 120 2434231) 3678re14) 3768?9 8 38 7738$41 417tot8a" 438ISO777 AS4043 3081 49340451 0162,40t 13 30061113 ss AS 218 so084.231 81.7z6AS.4 84 it?,%"8 4480n8847 70418 284 7404870o

if141488, 82681.179 "all621111 9114174111 IS 7207T44 100 0411M lag 1)2 In2 Ito we7In POP 301311) it1S 11m0 IS 184 423 73603848 248164 2?

"2)off 768 273204007?

31 aft 138 332070 "I 3A4In8Sol is446107 30 164 3 44004VS308 47 20 Ill

43186o7o 44 15 we 4894014141 It 303we 538707894 584*372I so ye3 $)8 82382104 84580278fi 607542044

?I2082001 781111101 180Sol88)

"3.17i 018 o7.748830 12017322 04784I1004 l0t 541304 301080194 20418848 13 473"10 8724v)0 4"1811 2 05" 721 I371780141 3104)1341 14049158 8181081 462 084 3 02 a 724A"447 H4we8off 0411511413 81841114 we IN8 )338244 IF3 Say1II MIM63411 99)SS1goto84 14 10607 31418 31)1091 14 748 48 74Its2?m 14137`11477 of8S0183 538002l 376184AS 2094 ?614 "08lo" ty17.0638 11113022 8818VA 369110)10 V 2181117?

i 8304 4846 Is600it3I6 "16"04 8171322 406760111 18841878 111721,5411 1801234 12"s8GIG 8448012, 428108" 30076M1188 380814341 to m "a 1299051u off315 4NO186688 31" 082 314,7 me 3010417"t8 930100 1,712731 4732003 3).16o.2' 0128004I 21849848 042I1113 1715,13 48"a8803 346IN1540 148Ito0"1 23 0474" 0417492 3

76873 1I 211413 38.0801284 68414841 it20110`71 IS66003 8)4491 S 1817601 39 N346*

384104" 7040804a7 19410 60172 VA1 asI7$$lf 48387787t 40423184 18600380 1?174 54?

"a3 80403103811 42)333144 4144,4194 111114.311, 18113275 8044SS 03413age 84483930 44148477An 8401804 180481110 van2lei 8808403 480S41.2 do 47"4in 3064 80 1o04 448Y 16522710 a "1322 488844330 48 1348in 32830048 3 "18110 8004800 7a340609 1044404?

10081283 34011633 32847088t 1.140110 7 7078934 54006748 8407882n 30)S143S 211495,43 1.718 117 8093320 0tft0917082 1181831 213 So 4?8 24 38023al 02"11063 8491647 0518190 88773.7 38418044d 200922314 1343818 8812887 82030080 12 fill 5 40.389" 1870 "4463 141861" 83881042 81)78 al 81 s844811 4)4384514 2 9138417 0460678m 8837494 48149842 041).226 45232411 T 840338n 10547172 I 1822838 2l30840 US

184.087 47904000 310on 805 11112440 10841637 "38008287 17222122 603097861 3

Y317)S2 074678 I 34418038 it 911402 so00340"1 112820sl88 3428247?

1188713 11 "?71)0 0

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12150 411 61.9" "18 Its7IN0Sa 1482n01141 37108018t 0884)00 13183162 82 348017 1*190 4"8 8018118 38182818? 7083463 18643 341 IF70011.4113 87.22 010 814 208488l a Art T711 2816738 04034418 1815684 103.141.l71 8?140843 41380118)0 7 8879 off 181161le 0011480847 "T.7104 30 7078011,1411 041-1408 2,41604 08i024 240 0)11241F.5 14 320487 440182647 253248) is80114S3 N0104711 5013)184 2IS 70458 IF1US8725 530" Is?

7120 ft8ae 3150081 21811441 it84171 S 20450443 FIER4M4 W[ XC~a3COMWiAfR0.~~WN0IlfE

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

100%

80%

~ 60%

40%

20%

0%

1 1

1 2

2 2

9 9

9 0

0 0

9 9

9 0

0 0

1 1

1 2

2 2

3 3

1 3

5 7

9 1

3 5

7 9

1 3

5 7

9 1

3 5

7 9

1 3

5 7

Year

/-+- Funded Curve -. Funded Floor.

Actual FIMLA W (EXIRCtCOWAF5RWOWfl*VlwTE

?fmn' I

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

100%

flLl 80 % --.

"1V

-1 60%

2000 Funding Status LL

&Amount Percent 40%

Actual 182,206 31.98%

40 -

.Committed 184,744 3243%

Tfr Floor 147.772 25 94%

20%

0%

LI L

1 1 1 1

1 2

2 2

9 9

9 0

0 0

00 0

0 0

00 0

9 9

9 0

0 0

1 1

1 2

2 2

3 3

1 3

5 7

9 1

3 5

7 9

1 3

5 7

9 1

3 5

7 9

1 3

5 7

Year

--- Funding Eu-rv-e--:----F-undiln-g Flo-or-

ctal (1998 TLG Sludy)

FIRNAMF wrtrrI *cn*wArsRt*m* xImtv

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%

>InflationlEscalation Assumption:

5.92%

>1998 Cost Study, Including 25% Contingency PJI 1316r2001 1 570074

NUCL.EAR DECOMMISJiCNIG TRUST AJ Pcrtcipoant Decom Costs in I998S S556.640 S9*00M I.e n 1998S S97.&56 PlaBna cnce'as of 12/31/98 n 1998 S34.354 FV Of Total Decorn Charges Dtscounted to 2024

$434.302 FV of 12/31/98 Pla nBlance in 24 yeas J136 FV of Balance Owed to be F-unded by Contrtbutions and Earnungs l

S297-7 Calewder Years Since Year End 1967 1988 1989 1990 1991 1C02 1993 1994 F

Po P Sl icre 17 49%

P*ofec1ed ret.ln on Investments 7 65%

Ptoiected Inflation 5 92%

Years To Start of Decorn (1undng Yrs Left) 24 Current Balance Arv'yual Before Decom Tei'mnO*ion Payment Earnngs Decom Charges Ending Costs Funded 721 26 747 0am 747 9w 31 1.738 000 1.738 805 135 2.678 000 2.678 43.630 614%

841 499 4.018 000 4.018 44.98 A W-w 1.746 1.107 1842 2.360 1.775 280 6,044 462 7.617 313 9.772 69 12201 3.317 17.292 A

C T

u A

L 0.m0 000 000 000 000 000 0.00 0(00 000 000 000O 000 000 000 000 000 000 000 000 0.00 000 000 000 000 0.00 000 O000 000 000 000 O00

).00 3.00 91

517 8v9 L014

178

.221 173 093 567 048 am

.77 6.044 47.646 7.617 79.718 9.772 8U.438 12201 89.436 17.292 94.731 21.336 100.339 27,586 106.279 3U.354 97.356 40.536 103.120 40,740 109.225 45.374 115.691 50,451 122.540 56.013 129.794 62100 137.478 68.761 145616 76.043 154.237

.003 163.368 92.698 173.039 102.192 183.283 112.556 194.133 123.862 205.626 136.194 217.799 149.637 230.693 164.288 244350 180.250 25M.815 197.634 274.137 216.560 290.366 237.160 307.556 259.574 325. 763 283.956 345.048 310.471 365&475 339,298 387.111 370.630 410.028 404.587 434.211 386,497 110.876 349.548 368.683 295.459 309M680 236,048 245.999 168.928 175,364 91.630 95.546 53.467 56030 46.464 48.254 37.451 38.543 20.269 20.777 O0 0.m am m 12.68%

956%

11.57%

1364%

18 25%

21.26%

2596%

3529%

3931%

3730%

39.22%

41.17%

43.16%

4517%

4722%

4930%

51 42%

53 57%

55.76%

57.98%

60.24%

62.53%

6486%

67.23%

6964%

72 09%

7458%

77 11%

79.68%

82.29%

84 95%

8765%

9039%

93 18%

94 07%

9481%

9541%

9595%

9632%

9590%

9543%

9629%

97 17%

97565%

10000%

0 2

3 4

5 6

7 8

9 10 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 29 29 30 31 32 33 34 35 36 37 1996 1.292 2.752 21.336 1997 1.369 4.881 27.586 1.450 5.318 34.354 1999 1.267 4.915 40.536 2000 1,223 (1,0?19) 40, 740 2001 1.517 3.117 45.374 2002 1.607 3.471 50.451 2003 1.702 3.860 56013 2M4 1.803 42,5 62,100 2005 1.909 4 751 68.761 2D06 Z022 5.260 76.043 2007 2142 5.817 84.003 2006 2269 6,426 92698 2009 2.403 7.091 102,.192 2010 2.546 7.818 112556 2011 2Z696 8.610 123.862 2012 2.856 9.475 136.194 2013 3.025 10.419 149.637 2014 3204 11.447 164.258 2015 3.394 12568 180.250 2016 3.595 13,789 197,634 2017 3.807 15.119 216,560 2018 4.033 16,567 237.160 2019 4.271 18.143 259,574 2020 4524 19.857 283.956 2021 4A792 21.723 310.471 2022 5.076 23.751 339,298 C

2023 5.376 25.956 370a630 C

2024 5.695 28.353

.043678 2025 0.00 30,951 45.538

49.

2026 0.00 29.567 416064

66.

2027 0.00 26.740 376&288 m

2028 000 22603 318.062

82.

2029 000 18.058 254.106 85 2030 000 12923 181.851

90.

2031 000 7.010 98640

45.

2032 000 4.090 57.557

11.

2033 000 3.554 50.018 12 2034 0.00 2866 40.317

20.

2039 om 4S9 21

-9 22 F

0 R

E C

A S

T I

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

ESTIMATED FUNDING FUNDING FLOOR CuV I-Enrng Fun Mlrnm.rn Minimum MmLgrn Floor 1991 6071 47,646 1274%

80.03%

1019%

4,857 1268%

6044 1992 7.617 79.718 9.56%

8000%

7.64%

6.090 9.56%

7.617 1993 9.772 84.438 11.57%

8000%

926%

7.822 11.58%

9.772 1994 12.201 89.436 1364%

8000%

1091%

9.761 1364%

12201 1995 14.909 94.731 15.74%

8000%

12.59%

11.927 1825%

17.292 1996 21.336 100.339 21.26%

8000%

14.30%

14.344 21.26%

21.336 1997 27.586 104279 2596%

8000%

1603%

17.034 2596%

27.586 1996 34.354 97.356 35.29%

8000%

17.79%

17.318 3529%

34.354 1999 401536 103.120 39.31%

8000%

19.58%

20.188 39.31%

40.536 YES 2000 40.740 109225 37.30%

8000%

21.40%

23,370 37.30%

40,740 YES 2001 45.374 115.691 3922%

8000%

2324%

26.891 3922%

45.374 50.451 122.540 54013 129,794 62.100 137.478 68.761 145.616 76.043 154.237 84 03 163.368 92698 173.039 102.192 183.283 112556 194.133 123.862 206.626 136.194 217.799 149.637 230.693 164 2M 244350 180.250 258.815 197.634 274.137 216.560 290.366 237.160 P07.556 259.574 325.763 283.956 345.048 310471 365.475 339.296 387.111 370630 410.028 A04.587 434.211 3846497 410.876 349.548 368.683 29.459 309.680 236.048 245.999 168.928 175.364 91.630 95,546 53.467 54030 46,464 48 254 37.451 38.543 20269 2.777 003 000 41.17%

43 16%

4517%

47.22%

49.30%

51 42%

5357%

5576%

5798%

60 24%

6253%

6486%

6723%

6964%

7209%

7i458%

77.11%

7968%

82 29%

8495%

8765%

9060%

9395%

9520%

9593%

9667%

97.35%

9786%

9639%

10000%

10300%

10000%

80.00%

8003%

80003%

8100%

8200%

8300%

M 00%

8505%

8600%

87.00%

8803%

8900%

9000%

9100%

92-00%

93.00%

9400%

9500%

96030%

9700%

9800%

990O%

10000%

1003O%

10000%

10003%

10000%

1003%

10000%

25.12%

27.03%

28 97%

3133%

33 77%

3630%

3891%

41.61%

4440%

47.27%

50.25%

5332%

5648%

59. 75%

6311%

6658%

7016%

738.5%

77.64%

81 55%

85.57%

89.69%

9393%

95.17%

95 91%

9664%

97.33%

97.85%

9&38%

1030%

1000M%

10000%

10003%

30.785 35.085 39.830 45.623 52.089 59.298 67.326 76.258 84.186 97.209 109.439 122.997 138.014 15.635 173.019 193.339 215.784 240.561 267.895 298,035 331.250 367.743 407.864 391.039 3,.=604 299.270 239,430 171.613 93.996 5&03 4A8254 3X543 2C.777 000 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

Funding Percentages UNIT I 1998 Decommissloring Cosl Sludy 11000%

10000%

9000%

8000%

7000%

6000%

5000%

2000%

I 000%

-4 Ii

-- fI BI I

Pa2 Requked.

furtU" Funded

SAL.T RIVER PROJECT I

UNIT 2 NUCLEAR DECOMMISSIONING TRUST Al PMiicpants Decorn Costs in 1998S 586.008 5 SRP 9",,en 1998S S102.4929 Pian Blace as of 12131198 in 1998S

$323980 FV of Total Decorn Charges DCscounted to 2025 S484.282.7 FV of 12/31/98 Plan Balance i 25 years

.1 64a8 FV of Balance Owed to be Funded by ContrIbutions and Earnings S347834 Calender Years Since Year End st=

.11 SRP Share 17 49%

Projected return on Investments 7.65%

ProteCted Inflaton 5 92%

Years To Start of Decom (Funding Yrs Lett) 25 Current Balance AnrnaI Before Decorn Termnation Pay'ment EaM&Ng Decor Charges EndIng Costs Funred 1988 1989 199M 1991 1993 1994 A

C T

U A

L F

0 R

E C

A S

T 960 805 841 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 2.161 2289 2425 z568 2.720 2882 3.052 3 233 3,424 3.627 3.842 4,069 4310 4.565 4.835 5.122 5.425 5.746 6.086 6.446 6682 000 0.00 000 000 000 000 000 0.00 000 amo 1J1-94 000 74 343 218 394 281 63 3.042 2.537 4.545 4.991 4.635 (966) 2980 3.339 3.733 4.166 4.641 5.162 5.732 6.356 7.038 7.785 8.601 9.492 10.466 11.528 12.688 13.952 15.331 16.834 18.471 2CL253 227195 24.305 26.607 29.108 31.827 33.442 30.056 26.575 22492 17.792 12354 6.999 4103 3.210 1.663 960 1.839 36023 5.150 6.839 8.881 11.185 15.940 19.856 25.860 32396 38.485 38.949 43.646 4&4804 54.464 60.671 67.473 74.924 83.081 92005 101.764 112431 124.084 136.809 1511699 1658,5 182.384 200.405 220.046 241,445 264.751 290.126 317.745 347.799 380.492 416.046 454.701 470.598 A22.9W 373.958 316.500 250.373 173.838 98.484 57.734 45.178 613~

0.00 0.00 000 0.00 0.00 0.00 0oo 000 000 000 000 000 000 0.00 000 000 0.00 000 oCoO 0.00 0.00 0.00 0.00 000 0.00 000 000 0.00 000 0.00 0.00 000 000 0.00 000 01.00 ocoo 0.00 17,546 77,704 75.567 79.950 83.920 88,888 82.353 44.853 15.766 23,437 29434 960 1.839 43.256 3.023 44.597 5.150 47.237 6.839 78467 8,841 83,112 11.185 88.032 15.940 93244 19.856 98.764 25.860 104,611 32398 102493 38.485 108.560 38.949 114987 43.646 121,794 4&804 129.005 54.464 136.642 60.671 144731 67,473 153.299 74924 162374 83,081 171,987 92.008 182169 101.764 192.953 112,431 204.376 124.084 216.475 136.809 229,290 150.699 242864 165.8W55 257.242 182384 272470 200.405 28,601 220,046 305.686 241.445 323.782 264.751 342950 290.126 363.253 317.745 384.758 347.799 407.535 380.492 431.661 416.046 4.57.216 437.155 466.737 392.894 416.664 347.383 365,763 294.008 307.467 232.580 241.749 161.AM 167.173 91.485 94,716 53.631 55.470 41,967 42.988 21.741 22.096 am am0.

MM

.QM 0

1 2

3 4

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 1996 1997 1999 20010 2001 2002 2003 2004 2005 2006 2007 2008 20O9 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2C26 2027 2028 2029 2030 2031 2032 2033 2034 2035 4 25%

6 78%

1090%

8.72%

1069%

1271%

17 10%

2010%

24 72%

31.61%

35 &-%

33 87%

35 84%

3783%

3986%

41.92%

4401%

4614%

48.31 %

50.51%

5274%

5501%

5732%

59.67%

6205%

64 47%

6694%

6944%

71 98%

74 57%

7720%

7987%

8258%

8534%

88.15%

91.00%

9366%

9430%

94.97%

95 62%

9621%

9660%

9659%

9668%

9763%

9t 39%

10000%

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

ESTIMATED FUNDING FUNDING ROO RVE CU Er~rg Furi-d MInWrmn Mb)Mrn MnmrnM Floor 1991 5.163 47,646 10.93%

800%

8 74%

4166 1081%

5.150

,-C 1992 6836 78.467 8.71%

80.0a %

6.97%

5.469 8.72%

6.839 1993 8887 83112 1069%

80 0a

&55%

7.109 1069%

8.881 1994 11.155 8&032 12.71%

.03,%

10.16%

8,948 1271%

11.185 1995 13.755 93.244 14.75%

8000%

11.80%

11.004 17.10%

15.940 7'

1996 19.856 9a 764 2010%

8000%

1346%

13.298 20.10%

19.856 1997 25.660 104.611 24.72%

8000%

15.15%

1.853 24.72%

25.860 1998 32.398 102.493 31.61%

80.00%

16.87%

17.294 31.61%

32.398 tE; 1999 38.485 108.560 3545%

8000%

1862%

20.213 3545%

38485

"-E'i 2000 38.949 114987 3387%

80 C%

20.39%

23.450 33.87%

38.949 YES Iu I l lOA

ý r,%800 2220%

27.035 3584%

43646

" E 37.83%

3986%

4192%

4401%

46 14%

4831%

5051%

52 74%

5501%

57.32%

5967%

62.05%

64 47%

6694%

69 44%

71.98%

74.57%

77.20%

79.87%

8258%

8534%

8815%

91.09%

9366%

9430%

9526%

96.75%

97.45%

10000%

100 03%

20000%

8000%

24 03%

8000%

25.89%

8000%

27.79%

80.00%

29.71%

,1.00%

32-06%

82.0M 3450%

8300%

37.01%

8400%

39.62%

8,5 0%

4230%

8660%

A508%

B7.00%

47.95%

8800%

50.91%

89 03%

53.97%

9000%

57.12%

91.0%*

6037%

9200%

63.72%

9300%

67.18%

9400%

7073%

95.0*%

7440%

96 0C%

78 18%

97.03%

8206%

98 o0%

86.07%

9900%

90.16%

100 30%

9255%

100 30%

94.02%

100.00%

95.24%

100.00%

9600%

100 03%

96.72%

100 00%

97.40%

100 3o%

97.86%

10000%

9540%

10000%

100.00%

10000%

10003%

10000%

31.001 35.382 40.217 4,.548 52.063 59.330 67.427 76439 86460 97.591 109.945 123.645 138.825 155.632 174.227 194.786 217.502 242.585 270.264 3M0.792 334.442 371.515 412.209 431.970 391,744 348356 295.167 233.83m 162.832 9Z586 54.580 42.988 2Z096 000 dcwQ 2002 2034 200d 2006 2006 2007 20108 2009 2010 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 48.804 54.464 6O.671 67.473 74.924 83.081 92.005 101.764 112.431 124.084 136809 150.699 7658&55 182.384 20408A 220046 241.445 264.751 290.126 317.745 347.799 380,492 416.046 437.155 392.894 347.383 294.008 232.580 161.485 91.485 5U 631 41.967 21.741 (000) 129.005 136.642 144.731 153.299 162.374 171.987 182.169 1*Z953 204.376 216.475 229.290 242864 257.242 272.470 288.601 305.686 323,782

4Z950 363.253 384.758 A07.535 431.661 457.216 466,737 416.664 365,763 307.467 241.749 167,173 94.716

,5.470 42.9w8 22096 000

SALT RIVER PROJECT I

....,..NUCLEAR DECOMMZSSONING TRWZ AJ Pcrttcpants Decom Costs In 1998S S632.975 6 SPPShare,n 19985 $110a7074 Plai Badnce as of 12/31/98 in 19985 S3U.380.0 FV of Totd DeccnM Charges Discounted to 2027 $586,864.7 FVof 12/31/96 P*an 8Jance In 27 yean 1162_44 FV of *aýjace (Cwe'd to be Funded by Conhnlbu:fofls and Earnigs5 24 417 9 SRP Share 17 49%

Projected return on invesf'nenrs 7 65%

PrOfecteo. In?.oon 5 92%

Years To Starl of Decom (Funrding Yrs Left) 27 CIurren?

Balance Ca-nder Annual B*.o Decom Tefiicnotion Yeos Since Yea End Payment Earnigs Decomn Charges En&Q Cosft Fnded sbu 314) 0Dl OLt Ad n1.

Cbange l0flr Al Saml Ca&LAW. a =

960 841 2154 1.5m 1.787 2.290 1.721 a0m 74 343 218 413 304 67 3.221 F

1988 1989 1990 1991 1993 1994 1 7fr A

C T'

U A

L 960 1.839 3.023 5.395 7.401 9.493 11.849 16.791 20.980 27.388 34.380 40.714 41.083 45.901 51.187 56.982 63,331 70.284 77.894 86.219 9&320 105.265 116.129 127.990 140.935 155.056 170.456 187,243 205.537 225.464 247.165 270.790 296.5M 324.476 354.903 387.990 423.959 A63.0=

5M5,531 551.676 525.078 478.791 425,851 363.647 303.817 233.969 152.98,5 9&560 55,462 742615 1.517 2.672 1.606 4802 1.702 5.289 1.416 4918 1.391 (1.0C22) 1.675 3.143 1.774 3.511 1.879 3.916 1.991 4359 2.108 4845 2.233 5.377 2.365 5.959 2.505 6,596 2654 7.292 2.811 8C053 2.977 8.884 3.153 9.791 3.340 10.782 3.535 11.862 3.,747 13040 3.969 14.324 4204 15.724 4453 17.248 4717 18,908 4996 20.715 5.292 22.682 5.605 24,822 5.937 27.150 6288 29681

&*660 32A33 7.055 35A24 7.472 X673 G.OD 37.314 000 34025 6OO 30L263 003 25.842 0.00 21.590 003 16.627 0.00 10.872 0 0 6.791 am.0 3.941 17579 6143 G0D n0.

000 a.00 000 00 000 000 003 000 000 000 003 000 003 000 a00 003 0.00 6003 G0o 0.00 0.03 0.00 000 0.O0 000 000 000

{003 0.GO 0.03 n0.0 63.912

.312 83.203 88.046 81.421 86.474 91.856 64.216 44.039 7.364 5=B 960 1.839 45.998 3.023 47.424 5.395 50.232 7.401 8Z736 9.493 87.634 11.849 92.822 16.791 98,317 20.980 104.138 27.388 110.303 34.380 110.707 40.714 117.261 41.083 124.203 45.901 13 1,W 51.187 139,344 56.982 147.593 63,331 156.331 70.284 165.586 77,894 175.388 86.219 185.771 95.320 196.769 105.265 208.418 116.129 220.756 127.990 233.825 140.935 247.667 155.056 262.329 170.456 2'f7.859 187.243 294.308 205.537 311.731 225.464 330.186 247.165 349.733 270.790 370.437 296.502 392-367 324i476 415.596 354903 440.198 387.990 466.258 423.959 493.860 463.052 523.097 50*531 54.064 487.764 522.953 444.766 473.600 395.589 418,434 337.805 355.160 282226 294764 217.342 225.740 142.114 147.248 88.769 91.749 51.520.67 53,142 48.098,35 48.924 0.3

.03 F

0 C

A S

T 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 28 29 30 31 32 33 34 35 36 37 38 39 1996 1997 1999 2OOO 2001 20M1 206 2OD7 2035 2006 2007 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2M25 2=26 2029 2030 2031 2032 2033 2035 2036 2037 AM0%

637%

10 74%

8 95%

10 83%

12 77%

17 08%

2015%

24 83%

31 05%

34 72%

3308%

3489%

3673%

3861%

40.51%

4245%

4441%

4641%

4844%

5051%

5261%

U 74%

5690%

5911%

61.35%

6362%

6593%

6828%

70 67%

73 10%

7557%

78 07%

8062%

83 2 1%

8585%

8852%

91 24%

93.27%

9391%

9454%

9511%

9575%

9628%

9651%

9675%

9695%

9831%

100 W,%

m

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

ESTIMATED FUNDING FUNDING FLOOR CURVE

=,-

M,.7-74 117W=

Encling Fund Minimu=

Mxr-rmu Mnrmurn Floor 1991 5.408 47.646 1093%

8000%

874%

4,166 11.32%

5&395

-Z 1992 7.398 82.736 8 94%

8000%

7.15%

5.918 895%

7,401 1993 9.498 87.634 10 84%

80.03%

8.67%

7,59 10 83%

9.493 1994 92.822 12.77%

80.V%

1021%

9.479 12.77%

11.849 1995 14.477 98.317 14.72%

8000%

11.78%

11,581 17.08%

16.791 1996 20.980 104.138 2015%

8000%

1337%

13.926 20.15%

20.980 1997 27.388 110.303 2483%

8000%

14.99%

16.535 2483%

27.388 1998 34 380 110.707 31.05%

80.00%

16.64%

1&417 31.05%

34.380 1999 40.714 117.261 3472%

8000%

18.31%

21.468 3472%

40.714 200 41.083 124203 3308%

8000%

2001%

24,8.50 3308%

41.083 YES

'A,.,t A 20W-800l0 21.73%

2&.593 3489%

45.901 51.187 139,344 56.962 147.593 63331 156.331 70.284 165.586 77.894 175.388 84219 185.771 95.320 196.769 105.266 208,418 1164129 220.756 127,990 233825 140.935 247.667 155.056 262.329 170.456 277.859 187.243 294308 205,537 311,731 225.464 330.186 247,165 349,733 270.790 370.437 2964502 392.367 324.476 415.595 354.903 440.196 387.99M 466.258 423,959 493.860 A63.052 523.097 50*.531 554.064 487.764 5=2.953 444 766 473. 600 395.5W9 41,434 337.w85 355.&160 282.226 294.764 217.342 225.740 142.114 147.248 88.769 91.749 51.521 53.142 48.098 48.924 000 000 3673%

3861%

4051%

4245%

4441%

4641%

4844%

5051%

5261%

54 74%

5690%

5911%

61 35%

6362%

6593%

6828%

7067%

73 10%

7560%

78 59%

81.62%

84 71%

87.82M 89.26%

91.24%

93.27%

9391%

9489&%

95.76%

101100%

10000%

100.00%

10000%

100CC%

10000%

8000%

2349%

32. 732 8000%

2527%

37.303 8000%

27.09%

42. 346 8000%

2893%

47.904 8000%

3080%

54.024 8000%

3271%

60.759 81.00%

35.07%

69.014 8200%

37.52%

78.202 8300%

4005%

8&419 84 00%

42.67%

99.768 8500%

45.37%

112.363 8600%

48.16%

126.331 87.00%

51.04%

141.808 8800%

5401%

15&945 8900%

57.07%

177,904 9000%

6023%

198.868 91.0*%

63 49%

222.030 9200%

6684%

247,608 9300%

7030%

275.834 9400%

7386%

306 967 9500%

77.53%

341.285 960 81.31%

379.096 97.00%

85 18%

420.651 9800%

8746%

457.499 99.03%

89 80%

497,523 10000%

9214%

481.859 1003%

9360%

443.301 103 00%

94.87%

3964978 10000%

95.73%

339.992 10000%

9646%

284343 10000%

97.18%

219.366 10000%

97.79%

143.994 10000%

9840%

90.282 10000%

100.00%

53.142 10003%

10000%

48.924 10000%

10000%

003 2003 2OO2 2004 2030 2006 2007 2008 2009 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 2036 2037

SALT INVER PROJECT NUCLEAR DECOMMISS1ONING TRUST (0*')

Aggregate Dpc6m Costs in 1998% $1,775&625 SRP Share n 1998S

$310a557 Ending Bdalnce as of 12/31/98 n 19983 S101.132 FV of Tot1i Docorn. Charges Discounted to Start of Decom 31.505.449 FV of 12/31/95 Find Balance value at Start of Decorn m

4.3iAdA FV of Balance Owed to be Funded by Con r'butlons and Earwngs S1,06995 I

ALL UNITS Current Bakrace Yea(s) Calender Annual Wore Deco=

Temination Since Yeai End Pament Earnksgs Decom Charges E1cirng Costs Shtuy Il1ae anla~

ontatL&

C fnt d

Rnln Onfet 6 1967 1988 1989 1990 1991 1992 1993 1994 1995 am am am am am am 0.00 am a.m 721 2.880 2.415 2.523 5.609 3.989 5.390 6.890 5.210 A

C T

U A

L 26 747 31 3.658 283 6.356 1.185 10.064 716 16.589 1.269 21.857 899 28147 198 35.234 9.579 5O.024 7.961 62.172 14.228 80.834 15.598 101.132 14468 119.735 (3007) 120.772 9.239 134.920 10.321 150.442 11.509 167.458 12.811 186.102 14.237 206.518 15.799 228.862 17.508 253.3M2 19.378 250.023 21.422 309.222 23.655 341.115 26.095 375.936 28.759 413.937 31.666 455.393 34.838 500.599 38.296 549.878 42.066 603.576 46.174 662.071 50.648 725.770 55.521 795.115 60.826 870,584 66.600 952.692 72.881 1.0D2.000 79.713 1.139.112 87.142 1.244.693 95.211 1.353.292 98.433 1.392.193 95.470 1.350,915 86.491 1.217.098 74.574 1.049.397 60,978 W8.074 45.205 636.125 32.679 459,857 24.284 341.721 16.947 238.479 10.0=5 140.783 3.941 55.462 1M

.LEZl SRP Share 1749%

Projected return on investments 7 65%

Protecte Inflation 592%

Years To Starr of Decom (Funding Yrs Lett Unit1 Unt*2 Unit 3 24 25

,27 aLao am am am 0.00 o.00 o0.0 am oL00 am am am am om (000 0.00 am a00 amlo 000 am Mm cloo am am am 91 66.586 144220

=308 242.275 251300 267.154 208.947 120.189 107.701 89A50 7.364 511.20 747 3658 6.356 132884 10.064 137.00d 16.589 145.115 21.857 240.921 28.147 255.184 3X.234 270.291 50.024 286.292 62.172 303.241 80.834 321.193 101.132 310.557 119,7365 328.942 120.772 348.415 134920 369.041 150.442 390.888 167.458 414029 18 &102 438.540 206.518 464.501 228.862 492.0OO 253.302 521.126 280.023 551.977 309.222 584.654 341.115 619.265 375.936 655.926 413,937 694,756 455.393 7,5.886 500.599 779.450 549,878 825.594 603.576 874,469 662.071 926.238 725.770 981.071 795.115 1.039.150 870.584 1.100.668 952.692 1.165.828 1.042.0=0 1.234845 1,139.112 1.307.947 1.244592 1,385.287 1.286.705 1,400.709 1.247.972 1.339.411 1.13C.607 1,198.396 974,823 1.027.066 797,096 835.568 590.920 617.879 427,178 445.510 317,437 329.464 221.532 228,780 130.778 134.622 51.521 53.142 48.098 48.924 a.m a.0 amo oam Fundied 478%

7.35s%

1143%

907%

1103%

13 04%

1747%

2050%

25.17%

32.56%

3640%

34 66%

3656%

3849%

4045%

4244%

4446%

46 52%

4861%

5073%

5289%

5508%

5731%

5958%

61.88%

6422%

6660%

6902%

7148%

73.98%

76 52%

7910%

81.72%

8438%

87.09%

89 84%

91 86%

93.17%

94.34%

9491%

9540C%

9564%

9589%

9635%

9683%

97 14%

9695%

9831%

10000%

F 0

1 C

A 5

T 1996 1997 0

1998 1

1999 2

2000 3

2001 4

2002 5

2003 6

2034 7

2035 8

2006 9

2007 10 2008 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 2

25 2023 26 2024 27 2025 28 2026 29 2027 30 20B 31 2029 32 2030 33 2031 34 2032 35 2033 36 2034 37 2035 38 2036 39 2037 4188 4435 4698 4135 4909 5.200 5.508 5.634 6,179 6.545 6.932 7.343 7.777 8.238 8.726 9.242 9.789 10.369 10.9S3 11.633 12.321 13.051 13.824 14,642 15.509 16.427 17.399 18,429 13.488 7.055 7.A72 0 W0 000 003

000 0.00 am 0m am-0 1598-436 1920 SR7 1720-917

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

ESTIMATED FUNDING FUNDING FLOOR CURVE End*ng Fund Minimurn Mnimurn Mnrurmrn Floor anenp eC Ftnd E=L

£orc-n+/-eg S AM2z 2mr-ntog SAM Sojt=

1991 116642 145.115 11.47%

8000%

9.17%

13.314 11.43%

16.589 1992 21.5$i 240.921 9.07%

800%

725%

17.478 907%

21.857 1993 28.157 6.184 1103%

80100%

&813%

22.530 11.03%

28.147

,E 1994 35.235 270.291 1304%

80.0%

1043%

28.188 1304%

35.23.4 1995 43.140 28&292 1507%

80.03%

1205%

34.512 1747%

50.024 1996 62.172 303.241 2050%

80.00%

13.71%

41.567 2050%

62.172 1997 80834 321,193 2517%

8000%

1539%

49.423 2517%

B0834 1998 101.132 310.557 32-56%

80.00%

17.08%

53.029 32.56%

101.132 1999 119.735 328.942 3640 %

8000%

1881%

61.869 3640%

119.735 20C0 120772 348.415 34 66%

8000%

20.57%

71.670 34 66%

120.772 YES 2001 134 920 369.041 3656%

8000%

22.36%

82.520 3656%

134.920 150.442 390.888 3849%

167.4,5 414.029 4045%

1864102 438.540 4244%

206,518 464,501 44.46%

228.862 4920O0 46 52%

253.302 521.126 4861%

280.023 551.977 50 73%

309.222 5U 654 5289%

341.115 619.265 5 08%

375 936 655.926 57.31%

413.937 694.756 59.58%

455.393 735886 61.88%

50 599 779.450 64.22%

549.878 825594 6660%

603576 874 469 69.02%

662.071 926.238 71 48%

725.770 981.071 73 98%

795.115 1.039.150 76.52%

870584 1.100668 7910%

952692 1.165 828 81.72%

I 042.O 1.234.84`

8440%

1,139.112 1.307.947 87.59%

1,244592 1.385.287 9081%

1.286.705 1.400.709 92z11%

1.247.972 1.339.411 93.17%

1.130 607 1.198,396 94.34%

974.823 1.027.066 9523%

797.096 83m568 9605%

59.92 617.879 9662%

427.178 445.510 97.23%

317.437 329.464 97 82%

221.532 228.780 9859%

130778 134.622 9893%

51.521 53.142 10000%

48098 48.924 10000%

000 000 10003%

8003%

8000%

8003%

8000%

81.03%

8200%

8300%

8403%

8500%

8660%

8700%

8800%

8900%

9003%

91.00%

92.00%

9300%

9400%

9500%

9600%

97.00%

9803%

9900%

10000%

100303%

10000%

100.00%

10000%

10003%

10000%

24 18%

2603%

27.91%

2982%

31.76%

3373%

3619%

38.72%

4 1.34%

44 05%

4685%

49 74%

5272%

5580%

58 97%

6224%

6562%

6909%

72.68%

76 37%

8017%

8407%

8808%

9024%

9224%

9425%

9521%

9603%

9659%

9721%

97.80%

9858%

98.91%

10003%

10000%

94518 107.770 122.392 138.511 156.263 175.796 199.738 226.388 256.023 288.946 325.490 366.017 410.927 460.656 515.680 576.522 6413.752 717.995 799.932 890.309 989,941 1.099,628 1.220,160 1.264 048 1.235.418 1.129.484 977.898 802.420 596.823 433,060 322.00 225.525 133,155 53.142 48.924 000 2032 2003 2004 2005 2006 2007 2008 2039 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

Funcsng Pefcenloges 9r.................

1ALL, UNITS COMBINDI 60?.

~

1998 Decornrmssloning 8, --------------------

Cost Study I..-----------------------------------------

.0

?----------

6..

,o* ~ ~ ~

~

~~

~

~~a OL i'..--"

i....

i*

i I

Io*

l*.=.*.tu r~c~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%

PJ1 3IW2001 t570074

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 I for current rating on each municipal bond held.

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

3.1.1 Table For Unit 1 (In Thousands) - 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 for 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 ror Unit 3 (in Thousands) - continued:

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

54.26%

57.02%

59.96%

62.94%

65.96%

69.24%

72.56%

75.92%

79.74%

83.62%

87.55%

89.95%

91.81%

93.70%

95.35%

96.47%

97.44%

98.37%

99.19%

100.00%

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%

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

3.2.2 Unit 2 Curve:

100%

1 90%

80%

70%

60%

50%

40%

30%

20%

10%

0%

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

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

Assumptions Used In Developing Committed Accumulations:

Cost Study:

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

Contingency Factors:

1998 TLG Study Annual Escalation Assumption:

Approximately 7.3% over the funding period.

Rate of Return Assumption:

5.25% per year (after tax)

PJH 3Mo.200I 1570074

f) ?OOr) at.

I 91MMIMIM 0

e 6

0 I

S 0

II 11.1 Ii 6

2 8I a

SOUITH-RN CALFORNIA EDWN CMVPANY 20930 PALO VEMRE UNrT 2 RN4D'CG STAIS C3 1N40W.4ES)

(2) trWW, PL.AN

_g FUND 3 W-OT

% U 1991 24496 43.826 5"%

1992 31.537 68.737 46%

1993 38.092 74 5m 31%

1994 44.991 M.314 "6%

1995 54.543 86.114 63%

196 64597 92.333 70%

1Q97 75.179 99.000 76%

1998 86.317 106.150 81%

1999 9 039 113815 "6%

20 110376 12.O34 90%

2001 123.362 130.647 94%

2002 137.029 1d0296 98%

2003 151.413 150427 101%

2004 166.,553 161.290 103%

2M5 1O2487 172.937 106I%

26 199.259 18.5.426 107%

207 216.910 196.816 109%

S235.488 213.174 110I 20M9 255,042 225 56 112%

2010 275.622 245.074 112%

Mi1 297.23 262.772 113%

2012 320081 281747 114%

2013 344076 302.094 114%

2014 369330 3,3.909 114%

2015 395910 347.3m3 114%

2016 423 686 37.300 114%

2017 4A3.331 399.271 114%

2018 4AU.321 425.104 113%

2019 516.939 459.019 113%

2=

551.268 492.167 112%

2021 5.87.40 5r7.709 111%

2=

6254A30 566817 111%

2023 666455 606.677 110%

2024 797.582 m50487 109%

202 751.921 696716 108%

2M26 790.166 742.858 106%

2027 776.927 739.787 106%

2028 657.874 631 382 104^

2029 52.952 5638m 2

103%I 2=

364.V8 354.u72 103%

2031 186.212 182.311 102%

2032 62.940 61.939 102%

2M3 0

0 100%

20*4 (4)

.(5)

(6)

(7)

(a)

(9 RR

.O0Z FL= CURVE ACTUAL FUN. NG W%

45%

19.597 25.943 41826 59%

80%

37%

25.230 32.569 68.737 4a%

80%

41%

30.474 40791 74.906 8%

45%

35993 45.358 M.314 56%

80%

51%

37,442 63.426 73.893 66%

80%

56%

44 368 78.392 79.Z6S 99%

80%

61%

51.648 98759 84 948 116%

80%

65%

59.021 120.878 9lIe 133%

80%

69%

68410 135329 99.433 136%

80%

72%

76761 140883 106613 132%

80%

75%

80%

7&%

80%

81%

80%

83%

80%

m4 81%

87%

82%

89%

83%

92m 64%

94%

85%

96%

86%

m7%

87%

99J 88%

100%

89%

101%

m 103%

91%

104%

m 104%

93%

105%

94%

106%

"95%

106%

9&%

l07m 97%

l07a 98%

107%

99%

108%

100%

1021 106%

100%

105%

103%

104%

10*%

103%

100' 103%

I%

102%

1I0%

102%

103%

l03%

8 s 8 rp At

ý id Nil J..

I

--d 3

S SIR mmm-R 41MA a too' zc. S, a 4 3

3 bq I

0

01 i i i 5

=A* i 3

§ 9 13 9 §

, i V,: aýp

I-

I 4to :14 QO ot,

-P2 E,.8 P

.5 2 ; ; 5 5 1 n m 25152

0.

Cb w

CA cocoooococcoocoocoooooooouooooooocDo

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

-. Actual 125%

Accumulation

$ AMOUNT PERCENT 50%

COMMITTED

$ 91,150 90%

Floor ACTUAL

$141,277 139%

25%

Committed FLOOR

$ 72,920 72%

Accumulations 0% 1 I

.T..

a, a,

0 0

0D 0

0 ol O(D*O)

O 0

a 0

C0 C0 a

0 C0 C0 C1 C0 C

C0 0C) r-

uthern California Edison Company Palo Verde Unit 2 Funding Plan Actual Accumulation 2000 FUNDING STATUS

$ AMOUNT PERCENT Funding

,Fundn COMMITTED

$ 95,951 90%

Floor Committed ACTUAL

$140,883 132%

Accumulations FLOOR

$ 76,761 72%

I I

150%

125%

100%

75%

50%

25%

0%

0)

C)

C0 0

('4 c")

0 0 c0J to 0

0 C0 0

0 C4

0) 0 04 0

('4 cm 0

to 0 cJ 0D 0>

C'4 0

("4 0

c'J to 0 crJ 1

0 C1

0) 04 Cq 0

('4 So

0) 0)

0) 0D (V) 0')

0) 11 c')

Cv) 0 C"

Southern California Edison Company Palo Verde Unit 150%

125%

100%

75%

50%

25%

0%

3 Funding Plan 4

cý cn

ý I"

-DM i

t-a an M) 0a M

a)

CD i

o C

0 0

C-CD 0

0)

0) 0)1 0)

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

10 Actual Accumulation 125%

100%

75%-

2000 FUNDING STATUS

$ AMOUNT PERCENT COMMITTED

$ 299,946 93%

Funding ACTUAL

$ 435,605 135%

Floor Committed FLOOR

$ 239,957 74%.

Accumulations 0

iJ r

-,1 I

I' 1

-1 1

.1 1J V

(_

r*-

oD T--

M U IVu (D")

0"D01 aC3 0

0C

)

0)

0) 0 0D 0

0 0

('4

('4 (4

(4 (4

(4

('4

(

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

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

1983 Group Annuity Mortality 8.50%

5.00%

5% After Tax 39.59%

1998 TLG Included Included Included Included 1570074 PAJI 3"r20o01 Appendix B, Tab 5

ptIII I(" '*1 RVI('. I 0141 %NY (lI NI'W P61 HOE

(

rAI.O rRULuLtINII I pm)..

Furvlitg I'lan I.sr I e-,I S LiE Cutts

% hended I99l 1.095Q 23.746 1992 3,450 45,099 1993 5.931 47.354 MM94 6.907 49.722 1995 7.018 45.959 1996 8.107 43.257 1997 9.212 50.670 1998 11,170 56,1173 1999 12.953 59.717 12000 1 5,193 62.703 2001 17,633 65.838 2002 20.303 69.130 24)(3 23,213 72.586 2004 26.363 76.215 2005 29.794 30.026 2006 33.519 84023 20017 37.541 33.229 2N0R 41 133 92.640 2009 46631 97.272 2010 51.773 102,136 20111 57.214 107.243 2012 63,295 112.605 2013 69.806 118.235 2014 76.785 124.147 2015 A4.249 130.3i4 20116 92.224 136.372 2017 101.133 143.716 2013 110,641 150.901 2019 120.734 158.446 2020 131,593 166,369 2021 143.121 174,637 2022 155.670 183,422 2023 169.443 192.593 2024 184,529 202,130 2025 177,461 191,308 2026 162.427 173.237 20327 133,046 145.297 2023 111,417 115,746 2029 81.546 83.623 2010 47,410 43.010 2011 30.656 39.656 2(1(2 27.330 27.380 20(13 21,343 21.343 21114 15.976 15.976 20315 7.431 7.481 21116 6.821 6,323 2037 14.137 14.337 331%

765%

1263%

1369%

I 527%

1630%

is18I1%

1964%

21 69%

24 23%7, 26 79%

2937%

31 98%

34 59%

37 23%

39 39%

42 55%

45 21"/

47 99%

50 690/

5335%

S6 21%

59010%

61 35%

64 63%

67.31%

70 37%

73 32%

76 23%

79 10%

193%

84 87%

37.93%

91 27%

92 52%

93.76%

95 fit%

96.26%

9751%

93875%

1(100(1%

1001 l00%

I of 00%

1W11o00%

1(0000%

10004160%

100 00%

Funding Ilnr (urve Actlu.l Funding 77rna l'erreni S,lmronl l'nd S L.st (Cast % Fuended

30M, 305%

376 1.096 23.746 381%

10%

6 12%

2.760 2.334 4..099 5.13%

50%

10 10%

4.735 3,691 47.354 7.79%/*

30%

(0 Qgie,%

5.446 4.117 49.722 823%

80%

12 22%

5.614 4.235 45.959 921%

30%

13 44%

6.486 3.094 48,257 1677%

3s0%

14 54%

7.369 9.999 50.670 19.73%

80%

15.71%

3.936 14,095 56,373 24.78%

30%

17.35%

10.362 17,434 59,717 29.19%

9o.%

1939%'/

12,154 19.507 62.753 9*2%

110%

2143%

14.110 80%

23 50%

16,243 30%l, 25 53%

13.570 3M0% 2767%

21.090 30%

29 73%

23.335 31%

32 31%

27.150 82%

34 99%

30.784 33%

37.52%

34.763 84%

4031%

39,212 85%

43 09%

44.007 616%

45 89%

49,204 37%

48 90%

55.067 83%

51.96%

61.429 39We 55 05%

63.339 90%

59 17%

75.23 91%

61 32%

33.924 92%

64.74%

93,042 93%

69.19%

102.996 94%

71 66%

113.537 95%

75.15%

125,01(

96%

7365%

137,396 97%

32 32%

151.000 931%

8622%

166.054 99%

90 36%

192.694 100%

92 52%

177.461 100%

93.76%

162.427 100%

9501%

113.046 100%

9626%

111.417 100%

97 51%

31.546 100%

93 75%

47,410 100%

10000%

30.66 100%

100 00%

27,380 100%

100(00%

23.313 1 1o% 100 (0%

15.976 I00%

I1*

IW00%

7.491 100%

100 00%

(36829 100%

100 001/.

14.337 FaIsbdi 3 4

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%

8000%

60 00%

Committed Accumulations 40.00%

Fundini 20.00%

Atual Accumulations o.00% -

1 1 1 1 1 Exlhiit 3.4 1

tf m

e't'-

oin C

W o4 Cq

%n t-Mo T-W) f-

Fundior Plan leir I-u'.t J Lit 1

'Coir % 1'anded 1991 1992 1993 1994 19915 1996 1997 199R8 1999 2001 2002 21)04 2003 2007 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2(126 21027 2028 20129 2030 2011 2012 20133 2011 211S 2016 2037 I.(096 3.426 6.756 7.3,16 8.4115 9.645 11.X61) 13.754 18.726 21.155 24.642 27.9)2 31.633 35.594 39.862 44,469 49.360 54.973 611.747 67.198 74.113 81.522 89.454 97.912 107.382 117.4835 128.246 139.720 151,965 165.279 179.239 193.779 199.710 131.142 160.195 135,984 108.520 77.154 47.093 30.724 23.821 17.123 8.1(11 7.479 15,1121 28.499 4,1.371 46.591 4 3.9 23 47,703 511,088 52.593 59.869 62.62 72.771 16.409 80.230 A4,241 33.453 92.376 97.520 102.396 107,516 112.891 118.536 124.463 1311.636 137.220 144.081 151.235 1.349 166.792 175.131 113.888 193,032 202.737 212.73 217.,5.9 195.154 170.693 143,333 113.160 79.606 43.093 31.1144 25.3121 17.129 8.101 7.479 15.021 3 85%

7 72%

12.74%

13 1%

15 40%

16 94%

18 34%

1931%

21 33%

24 44%"

2702%.

2962%

32 25%

34 89%

3755%

4024%

4292%

4560%

4340%

51 13%

5381%

56 69%

59.5s%

62 33%

65.191/

67 97%

7098%

73 96%

76 R9%

79 7A%

82 64%

85 60%

3341%

9103%

91 80%

92 92%

93 85%

94 87%

95 (X"%

96.92%

97.95%

93 97%

10000%

I H) 1000,0 100 00%

100 (1W%

VILlC( SF:RVIC'I: ( OPIPANV OIF NrW RFI('IO PALO Vt RIlE UNIT I Fundinr Flonr ('urvte Actual Fundilng (Crteria Perceni J.4nmount 17

'md S Lit Coif

% 'unded 80%

3 0O%

30%

6 13%

80%

I0 19%

So0 II 05%

80%

12 32%

90%

13 55%

30%

14 67%

30%

15835%

30%

175(0%

8 1 "/

19 W110*

8(1%

21 62%

g0%/

23 70%

80%

25 80%

80%

27 91%

80%

3004%

31%

32 59%

32%

35.19%

83%

37 85%

84%

40 66%

15%

43 46%

36%

4628%

37%

4932%

88%

52 40%

19%

55 52%

90%

58 67%

91%

61 35%

92%

65 3%/e 93%

68.7"%

94%

72 21%

95%

75 79%

96%

79 33%

97%

N 3 03%1 93%

36 64%

99%

90 12%

100%

91 90,4 1110%

92.32%

100%

93 35%

100%

94 87%

100%

95 90%

I100%

96 92%

100%

97 95%

100%

9397%

I00%

M0O 00%

1001%

100 01.%

100%

10DO00%

100%

10000%

100%

10000%

877 1.096 23.499 2.741 2,334 4.1.375 4.749 3.691 46.594 5.405 4.117 43,923 5.377 4.235 47.703 6.788 8.479 50.033 7,716 10.363 52.593 9,411 14.528 59.869 11.003 17.962 62.862 11.905 19.071 (16.005 14.981 17.244 19.714 22.394 25.306 23.831 32.637 36.909 41.630 46,727 52.242 53,462 65.223 72.554 80.508 39.118 93,792 109.261 120.551 132.734 145.3886 160.320 175.655 191,841 199.710 181.142 160.195 135.984 103.520 77.154 47.098 30.724 25,821 17.123 8,101 7.479 15.021 3 85%

5 26%

7.92%

842%

8 88%

1693%

1971%

24 27%

23 57%

EI.hlbi 3 4 I

I

Public Service Comany of New Mexico Palo Verde Unit 2 120 00%

2000 Funding Status

$ ($000)

Percent 100 00%

Committed

$16,132 24.44%

Actual

$19.071 28.89%

Floor

$12,905 19.55%

80 00%

60.00%

Committed Accumulations 40.00%

20 00%

Actual Accumulations 000%

Exhibit 3.4 Nq KC5

rI'Vi IC."1 RVI(

(E ORMrNY (IFNFIA 6kt X3(()

I'AILO VFR43) um r 33 law Lwhi Lit (Imti 1991 1991 3,97 2002 2003

?006 2007 20(r7 2003 20113 2030 2033 2014 2035 2036 0203 2022 2023 2022 2021 2024 2021 20261 2029 7010 2011 2012 2013 2014 01(35 1046 2(117 I.1y)?

11.401 S,39%

6,712 7.7'99 9,009 30,213 11.4)0 36,109 13,9135 213,7099 74,933 213,101 33.992 35.933 4o0,10 44.96!

50,316 51.ixy 61.420 6,7..)45 74,912 32.427 90.413 99,0(33 103,.519 1111.790 329,619 141.235 151,643 (67.123 333,212 395.949 203.679 213.162 203,773 31,2557 160.6316 314,991 330192 3 3.4 16 43,141 24.497 7.4111 63139 31,317 10,106 461167 49211 51.671 56.556 59,134 64,111 67.5903 74.513 36.264 90,373 95.10?

104.151 1130.091 115.601 12,1331 1 27.452 311,324I 140.116 141,541 154.919 162,664 170,791 179.131 333,.304 197,110 201.06 211,916 223,33 5 216.09S 2431.03 226,684 201.966 1 75,039 144.951 116.592 34,915 49.703 24,317 7.433 14 117 362%

77(1%

I I 9314 1299%

14 11%

1S 93%

Il 24-6 1363%

2051%

1293%

2S 41%

27136%

30 13%

32311%

35 31%

31734%

4036%

41 33%

45 52%

4301%

so060%/

51331%

5600 5366 6130%

61.91%

U. 75%

6935%

72 lit' 15 03%

7771%

s0 50%

03 31; 3561%

1627%

31764%

3901%

9039%

91 76%

91 31%

94 13%

95233.

97 25%

9363%

100 M0/

Ion MI.

100 00%

Fuunding fleer C~urve I uarM Pert t AR AV, 29"1.

10*/

6 to.

20%/

9 53%.

30%1 30 39*10 30%

11 53%

30%

1I 74".

30%

13 79%

304%

1490%,1 30%

If.46%

30-6 13 13%

in%

10 31%

Re*/.

12229%.

30%

23 26%

30%

262504 10%

23 MIS lit; 3065%

32%

31110%*

31%

is359%/

84'%

i3 24%

85%

40 31%

316%

43 52%

37%

46.33%

33%

49 23%

It'r%

52 21%

90'%

55 17%

91%

so 36%

91%

63141%

91%

64 68%

94%

6791%

9s%

7129%

96%

74 60%.

97%

730or" 93%

33 47%

99t%

34 75%

300 3~

6 27%

100%

3764%11 300 3~/

901%

Ion*;

90 39%1 I0OW/.

91 76%

100%.

93131%

330o%

94 51%

100%

95 33%

100%

97,25%

low/.

93 61%

13(K30 100 00%/

100%

IM IM-.

1001.,

100300%

317 2.722 4,716 5.370 6.239 7.203 3.190 9.594 33,323 33,041 15.143 17.439 19911 22,643 25.594 29,151 33049 37.313 41 093 41,244 52,213

$9,311 61,949 7).160 11.399

".Ogg9 "99,392 110,47S 313,393 334,2213 347.502 162.109 191.939 203.679 213.362 203.773 332,557 310.616 334,99 130.192 3 1.4 36 43.34' 24,497 7.43 3 34,117 Aclual Fulvdint Lmudi 1,1 (U

% I.us&.I 1.097 10.106 362%

2.3111 46.367 493%

3692 49.231 75014 4,337 51.671 797%

4.215 53.363 786%

9,007 S6.5316 3193%

10,223 59.314 3722%

33.639 64.372 13136%

16,177 67,5s0 24 23%

111.132 70970 23 Oil E~id,bio 3 4

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%

8000%

60.00%

Committed Accumulations 40.00%

20.00%

Exhibit 3.4 000%/a 1

1 1

1 i

i i

I I

PUBLIC SERVICE COMPANY OF NEW MEXICO PALO VERDE UNITS 1. 2, 3 (soo0)

Funding Piton Fuding Floor Curve Actual Funding Y'eaIr I unS ft Cosl s 1;1 Fundt#d Criteria Percent

$ Amount Fund l IEtt Cost W 1 unded 1991 1992 1993 1994 1995 1996 1997 1998 1999 12000 2001 21 )02 2003 2004 2005 2006 21007 2008 2009 20110 2011 2012 2013 2014 2015 2016 2017 2018 2019 20203 2021 2(022 21023 2024 21025 3.238 87,551 10.279 136.341 17,812 143.159 20.275 150,316 22,164 147,525 25.601 154,901 29.095 162.646 35.022 131.114 40.610 190.169 47.633 199.678 55.299 209.662 63,657 220.145 72.773 231,152 82.658 242.710 93,418 254.845 105.100 267,537 117.708 230.967 131.314 295.015 146.357 309.766 162.327 325,254 179.380 341.517 198.438 358,593 218.865 376,522 240.733 395,343 264.145 415,116 2H9.165 435,872 317.093 457,665 346.916 480.548 378.709 504.576 412,6(12 529.05 443.734 556.295 483.071 584.110 529.894 613.315 574.257 643.938 531.8501 645.452 3.76%

7.54%

12.44%

13.49%

15.02%

16.53%

17.89%

19.34%

21.35%

23.86%

26.38%

2R.92%

31.43%

34.06%

36.66%

39.28%

41.39%

44.51%

47.25%

49.91%

52.52%

55.34%

58.13%

60.899%

63.63%

66.34%

69.29%

72.19%

75.05%

77.88%

A0.66%

83.56%

86.40%

89.18%

89.994/o 3,2R9 87,551 3.76%

7,0033 136.341 5.14%

11,074 143,159 7.74%

12,351 150.316 8.22%

12.705 147,525 3.61%

25.581 154.901 16.51%

30.594 162,646 18.81%

40.312 181.114 22.26%

51,773 190.169 27.22%

55.910 199.678 28.00%

Exhibit 3.4 80%

3.00%

2,630 80%

6.01%

8.223 80%

9.95%

14,250 80%

10.79h/o 16.220 80%

12.02%

17.731 804/

13.22%

20.481 90%

14.31%

23,276 80%

15.47%

28.018 80%

17.08%

32.488 80%

19.08%

38.107 30%

21.10%

44.240 80%

23.13%

50.926 30%

25.190/

58.219 80%/,

27.25%

66.127 80%

29.33%

74.735 81%

31.81%

85.131 82%

34.35%

96.521 83%

36.94%

103,990 84%

39.691/6 122.940 35%

42.42%

137.978 86%

45.17%

154.267 87%

48.14%

172.641 88%

51.15%

192.601 899/6 54.191/e 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%

430.785 97%

81.05%

473.429 93%

84.67%

519.296 994/o 88.29%

569.514 100%/s R9.99%

580.850

2026 556.9)J 6.11.X41

'91.030,'

2027 500.013 542.671 92.14%

2028 429.958 461.1149 93.26%

2029 350.682

.171.827 94.31%

2030 259.557 272,567 95.23%

2031 187.945 195.332 96.22%

2032 139.539 143.358 97.34%

2031 97.510 98.877 98.62%

2034 57,601 57,942 99.41%

20135 23.064 21.064 100.00%

21036 21.134 21.134 100.00%

21037 43.696 43.696 I00.01/%

I1 0%

91.011%

556.911 IIII1%

92.14%

500.013 I(H0M 93.26%

429.958 110%

94.3 1% 350.682 I001/s 95,23%

259.557 100%

96.22%

187.945 1001/

97.34%

139.539 100%

98 62%

97,510 1001%

99.41%

57.601 100%

100 00%

23.064 100%

100100%

21.134 10(/% 100.00%

43.696 Exhibit 3.4

Public Service Company of New Mexico Palo Verde Units 1, 2, and 3 Exhibih 3.4 120 00%

100.00%

80.00%

60.00%

40 00%

20.00%

0.00%

N I

I K

N 1

53 1

N f5 b

A 11cp I-P 1ý0 IfInj lpý le 16, lprý' 10, Ip rp 9P

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

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

6.83%

5.91%

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

1570074 PA I 316r20I Appendix B, Tab 6

SOUVII I tRN CA LIFIORNIA l'tHt1.IC P'OWERt AuniIOlI'r' 11:110oVerde I'rojccl - TIerflhiI2I3003 COOt rlndImlg VIVO1 II IUhLhlI I 1`111 363.3ipmVtit lIlt 1.3.

I*-P~o it3IN430 3Yro3 31114,10.

tit~e

)ION.

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"!1 its3c430. 3991 3313'

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3991 It3IN140 IV"1 lII(* it.

39.14, JUN1443 3911wi III1C 11, 31"1 it IN430.

3V99 IlILt'

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3191 333IN4)0.

?000 3)3r1I 1.

73000 to I" J0.

1003 III3c iI.

1003 RN33110.

20010 3331-33. 10032 OUN 10.

100)

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1003 It IN410.

2004 IlIII Ci.

2004 JUN 30, 1001 DEC1 I3 I.

001o JUN30.

1006 13LC it.

2004 JN31.1 0.

1001 331.C It.

1007 JUN A0 10o33 III C 31.

2003 31114Jo l0, 100 III3c if.

1009 30 34 16 31 210 14 is

11.

I?

21 19 10 is 13 13 14 IS

11.

11 312 39 40 41 41 43 44 41 46 4T 41 134.211 WA 1

34,10. 930 9

Is1217610 10 315.16121 33 1,10.1,141 14 7,136.3116 31 9.379130 Is 3031.4149 39 311.44.700 j0 14,456_.95 it 16.116,900 1!

31.71,1.93 11 39,1.10.111 24

!1011.111 31 12.300.147 11.

14.701 119 21 v.21,15531 is 15X,1273, 29 1443.91 1 13 621,975

)1

&0 123.436

)11 41,61.6,001 )1 4)13.26141 40 44,931.061 43 46.62.13223 42 413319,314 43 10,231,7?

31 44 S2,105.920 41 1 05f,1.76 41.

1143317 9w0 31.1051340 31,941.234 66 091,515 1617410.917 7.126.000

.3.111 30 9,149,7(.4 3121019400 14,339.110 16,751.?00 20.019.944 23.494.004 11.211,330 21.239 A444 2.7.131,S11 30,131.14.3 31.964,410 31,330,040 16.141.347 310202.564 19.113.211 41.275.210 44,161.3022 46.813.147 43.071.01.

49,972,171 5.13.00117 is1352433 54 30 37 33 34 40 31 33 43 44 1423 31:6

.791,034

16) 94V 1296121 314111 244 349 440911 470 911 101.440

$67.713 1.57,175 131.123 41S,434 "63.13!

1.114,719 919,001

%7.1.0) 1,04164.11 1.081.101 3.133.437 3.317.0!0 1.16.9.11M.

1.119.14S 3,370.149 1.4n1.94 3.5133.310 1,19.111 1.612.11.11 3.734.903 1.719.139 so 0

0 0

0 1 21061.0 1?719.11.0 1.210.1240 1.176.1.40 3.1133310 1.121910 01.12066 Z01.111

.OS 71.1 101,1.16 201.11.1 105.761 205.71.1 201.11.

205,761.

201.1611 101.761 205.74S 20S.I161 13.311?.JAG 443.094 341.103 6.1.411 9.0'0 W.9.110 213.314 4!).%?4 191.930 140.131 194.131 190.701 164.784 619.314 1.17j.453 9466038 1.019 012 1.011.110 1.114.738 1.159.315 1.206.522 1.2S4,751 1310461.2 I.IS6.20s 1.409.149 1.464.712 1.521.119 S.1320,714 1.641,164 1.104,851 1.170.104 3.317.130 to 0

0 0

0 3,430,140 3,410 140 3,419 NA.

3,430.140 3,914 310 1.410.140 3,419.11.0 3,439,2#0 1.44!.31.0 1.4403,120 192.294 392.296

$91.296 192.3)4 392.294 391.296 192.296 392,196 191.2906 392.196 192.296 91,92.6 Paigc 10 311.11 I 011-1.31 lINIr 3 CRIAMI3 Tfl) rl.

$1.440.621 131,414 297.4111 1031.173 171.102

.39 4A3 147,121.

716.204 47 3,314 71.960 1,140 I133 1.011.492 3.010.332 3,31J.295

,1.1 3131 1,201,990 3,300,934 1,404.137 3.4sq19,51 1.115.61S 3,614,300

,1.71.18?3 3,963.134 16,1137.412 17.2211943 19,1.1414 7.3),0.10 9.664.100 3141.44017 I.14.11710 I15.100.014 317A63.500 19.119.311A 21.4u.,491 21.110,402 o 1.315 61 10 3 314.111 131.001.744 36.1.11,10 316%9,177 395139.411 41.131.114 42.730.74?

44.3S1.298 46,090.110 47.854.328 49.61.11132

$1.172.100

$1.541.7111 17.434.462 59.793.493 to 0

0 0

3.240 620 I.IJO 1.20 0.139.320 31.654.31.0 1.240.1.10 1.239.180 1.!40 410 3124.1166 314.31.4 114.1661 314.364 174.3".

314.11.4 374.31.4 174.11.4 314.166 174.3".

317431.6 174,161.

314.1164 174.J66 S44 11.791IP SO

$1.111.107 412101 All 0

3,192,443 423191.930 S

431,.143 40.03.31,.1 Z.3120.6.04 10.934.2111 2.31S.016 S13139.11.

0

-2469,2127 J!

16.1140 31.432 21.640.20 1.674.111 21,114.1" 4.002.000 197.911 29.114.332 4.001 000 111.11.1 13.41) 69 3.9"30 am 0.10 33 11.3.00 1.99, 000

.9.99 44 *1.6.07 1j.33200 140513 10.631t.00 1,1&61.000 3.8$4.098 115.1309111 3,9911.000 1.3191412 1.1.054.1.14 4.002.000, 971.131 1..030.15V 1.99000 3.2112.214 11.14041) 400N.000 20104106 11.1)43193 4.011Z.000 3.7111.93 31.1"? WI 112.43 1.906.901 88.6m0.9)1 311.423 1.021.722 91.199.011 1IM11.2 3.134.19 95.9!0.108 512.421

).2756172 99.11..70 511,418 J.407,014 103.741,1:0 S72.423 3.142.9115 301,34i.13 312.423 3.1.33126 111.1198116 S11.413

.11

.312.7 116.170.3E0 111.413 3.919.313 3121011.919 S72.4211 4,314.6.03 12.177031 S17.411 4.295.313 130,644,794 172.423 4,463.131 331.610 III 121,418 4AI.S1310 340.31.139

$12.419 4.3111.728 144.110.449 5171.4711 4.991.33 34 151's)1,011 111.423 1113.1411 117.191.704

$12.423 1,3131.139 3116115".629 511.423 5.5111.211 316.9,01.690 PAIAAL UJKLILL"M W11,11111, 11"k"t IfIjm, 1 0 %) %N%

I uLMF11!LIpr1

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SCPPA PALO VERDE UNIT I FUNDING PLAN 100%

i 90%o

!,11I.

80%~'

70%

AC UL tu60%

vIT......

w I

I I

w40%

--1 i-I.1.--**-.

.COMMITTED FLOOR 0%

1 1991 1994 1997 2000 2003 2006 2009 2012 201 5 2018 2021 2024 YEAR PYEg 12

SOUTIIEIMN CALIF1ORNIA PUBLIC POWVERt AU'rIIOlI'I'Y 2000 PAILO VERDE UNIT - I FUNDING srATUS TERIMINATION COST FUNDING (S TllOUSANI))

III-11% 'I t21 If0 AUTIIORIZEI) rUNDING PLAN YEAR I:UND EST. COST

%FUNDELD I) EC DEC DIEC I)DEC DEC DEC DEC DrC DEC DEC DEC I)EC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC I)l'C DEC D131C 1991 1992 1993 1994 1995 1996 1997 1999 1999 2000 2011 20012 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 21023 2024 2025 S4,225 5,176 6,782 7.597 7.190 9.033 10,771 13.181 15.369 17.032 20.016 22.465 25.136 28,047 31,216 34,665 38,415 41.900 46,290 50,394 55.526 60,348 65,548 71,155 77.199 83,712 80,43 i 86,826 93.665 114,288 120.002 126.003 132.303 138,918 145.864 S16.565 26.915 28,530 30.242 26.629 28.227 29.920 32,953 34.930 37.026 39.248 41,602 44,(098 46.744 49.549 52.522 55.673 59.014 62.555 66,308 70,286 74,503 78,974 83,712 88,735 94,059 99,702 105,685 112.026 118,747 124,685 130,919 137.465 144,138 151.555 26%

19%

24%

25%

27%

32%

36%

40%

44%

46%

51%

54%

57%

60%

63%

66%

69%

71%

74%

76%

79%

81%

83%

85%

87%

89%

91%

93%

95%

100%

1001%

1100":;

)

14 N IN) i O()

-)

CUR E-(1 11 FUNDING rLOOR CURVE CRI FLRIA PERCENT AMOUNT FUND 80%

80%

81%

82%

83%

84%

85%

86%

87%

88%

89%

90%

91%

92%

93%

94%

95%

100%

10(3%

I (0%

100%

1001%

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%

1010%

$3,380 4,141 5,426 6.078 5,752 7,226 8,617 10.545 12.295 13.626 16.013 17.972 20.109 22,437 25.285 28.425 31.884 35,196 39,347 43,339 48.308 53,106 58,338 64,040 70,251 77,015 74,801 81,616 88,982 114,288 120.002 126,003 132,303 138,918 145,864

$15.227 15,762 7.103 7,350 9,380 12,545 16,317 19,630 22.801 27,221 (1) - 41)

ACTUAL FUNDING 191-4111)

EST. COST

%I:UNDIED S16,565 26.915 28,530 30.242 26,629 28.227 29,920 32.953 34.930 37,026 92%

59%

25%

24%

35%

44%

55%

60%

65%

74% 1 Panle 13 I

SCPPA PALO VERDE UNIT 2 FUNDING PLAN 100%

90%

A I

I 8,60%

j J

,A-T. ALI c

, CM, O ITT, ED,,-*

70%

z IL F OCR 20%

ACTUIA 0%

i

-I*i~

.FLOOF 0%

1'994 1997_2000_2003 2006 2009I 2012

201, 1991 1994 1997 2000 2003 2006 2009 2012 201E 2018 2021 2024 YEAR Page 14

sOU1EIIEN CALIIFORNIA PUBLIC POWER AUTIIIItITY 2000 P"AI.O VERDE UNIT - 2 FUNDING STATUS "1 :ItMINATION COS I' FUNDING

($ 1 IIOIISANI)

Ill' II. lj IIl I)l ll4)

($.-3a43 l1.3.1 11 ll

)

12).

I9) lily)

At ITIIORIZEl

) rUNIING L'I.AN FUNDING FLOOR CURVE ACTUAL FUNDING YEAR I.IJND L.-SI. cosr

%I tNI)I.I)

(1I I'.(IA I'I-CLNT AMOUN I' HINI)

I.S'IST.

coVr

%FUNDFIMl D)EC 1991 S.1.966 S16.423 24%

s0%

19%

S3.173

$15.948

$16.423 97%

DI'C 1992 4.932 26,483 19%

80%

15%

3,946 16.719 26,483 63%

DEC 1993 6,548 28.072 23%

80%

19%

5.238 7.962 28,072 28%

DI:C 1994 8,515 29.756 29%

80%

23%

6.812 7.626 29,756 26%

DEC 1995 S.568 27,640 31%

80%

25%

(1,855 9,750 27.640 35%

DEC 1996 10.254 29,298 35%

80%

28%

8.204 12.896 29,298 44%

IEC 1997 12.112 31,056 39%

80%

31%

9.690 16,755 31.056 54%

DEC 1998 14,916 34,689 43%

80%

34%

11,933 20.020 34,689 58%

DEC 1999 17.292 36.770 47%

80%

37%

13,825 22,801 36.770 62%

IDEC 2(00 19.488 38,976 50%

80%

40%

15.590 27,784 38,976 71" I)hC 2001 21,897 41.315 53%

80%

43%

17,517 DI:C 2002 24.962 43,794 57%

80%

45%

19,970 DEC 2003 27.853 46.421 60%

80%

48%

22.282 DEC 2(104 3 1,00(1 49.206 63%

80%

50%

24.800 DEC 2005 34.425 52,159 66%

80%

53%

27,540 DEC 2006 37.596 55.288 68%

81%

55%

30,453 DEC 2007 41,610 58,606 71%

82%

58%

34.120 DEC 2008 45.970 62,122 74%

83%

61%

38,155 DEC 2009 50,045 65,849 76%

84%

64%

42,038 DEC 2010 55.142 69.800 79%

85%

67%

46,871 DEC 2011 59,931 73,988 81%

86%

70%

51.540 DEC 2012 65.095 78.428 83%

87%

72%

56,633 DEC 2013 70,663 83.133 85%

88%

75%

62,184 DEC 2014 76.665 88.121 87%

89%

78%

68.232 DEC 2015 84.068 93.409 90%

90%

81%

75,661 DEC 2036 91,092 99,013 92%

91%

83%

82,894 DEC 2017 98,657 104,954 94%

92%

86%

90,764 DEC 2018 105,689 111.251 95%

93%

89%

98,290 DEC 2019 114.388 117.926 97%

94%

91%

107,525 DI-C 2020 123.752 125,002 99%

95%

94%

117,564 DEC 2021 132.502 132.502 100%

100%

132,502 DEC 2022 139.127 139.127 100%

100%

139,127 DIEC 2023 146.083 146.083 100%

100%

146,083 DEC 2024 153,387 153,387 100%

100%

153.387 DEC 2025 161,.057 161.057 100%

100%

161,057 DEC 20126 169,110 309,110 1100%

100%

169,110 Page 15

SCPPA PALO VERDE UNIT 3 FUNDING PLAN 90%I 80% 1 I

I 'I M I i

70%

C'1IA w

60%,e L 40%/

30 °/

I 30%

'COMMITlI 20%

ACTUAL 10%

FLOOR 0%

I I*-

1991 1994 1997 2000 2003 2006 2009 2012 2015 2016 2021 zuzq zu41 YEAR Pagc 16

SOUTIIERN CI.IFOIRNIA PUBLIC POWER AUTI1IORITY 2000 I'AIO VERDE UNIT -3 FUNDING STATUS TERMINATION COST FUNDING (s TFIOUSAND)

III~~~

IS2it

lIlI)

() "{0 a 4)

16) -l

%I*4)

(it (I) - (1)

(9l -(711)

SAU'lIORIZI:.I) FUNDING PLAN FUNDING FLOOR CURVE ACTUAL FUNDING YEAR FUND EST. COST

%FUNDEI)

CRITERIA PERCENt AMOUNT FUND EST. COST

%FUNDED DI'C 1991 S3.098 DI)C 1992 4,125 DI.C 1993 5,769 I)DE.

1994 8,375 1)EC 1995 9,051 DIEC 1996 10,917 DEC 1997 12.624 DEC 1998 14.919 DI'C 1999 17.396 JDLC 200(0 19.697 DI.C 2001 22,211 DEC 20o2 24.956 DEC 2001 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 DLC 2023 158.567 DEC 2024 166.496 DEC 2025 174,820 DEC 2026 191.SI I)DEC 2027 192.739 S18.225 2E.29S 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.O82 59.447 63.014 66,795 70.802 75,051 79.554 84,327 89.386 94,750 100.435 106.461 112.848 119.619 126.796 134,404 142.468 151.016 158,567 166.496 174.820 183,561 192.739 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(10%

100%

80%

0%

80%

81%

82%

83%

84%

85%

86%

87%

88%

89%

90%

91%

92%

93%

94%

100%

10o{%

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%

82%

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

$17.223

$18,225 18.454 28.298 7,830 29,996 7.664 31.796 9.985 31.209 13.337 33,082 17.617 35.066 21,404 37.298 25.162 39,536 30.117 41,908 Pige 17 95%

65%

26%

24%

32%

40%

50%

57%

64%

"/0.f.l

"'°'1 72%

SCPPA PALO VERDE ALL UNITS FUNDING PLAN 100%i,o°% ii

!' i I *! *

-'*-II 90% i:,1IIII 1!I.

T.-.

80%

j I I I i

,j!i i

r,..

i.. P < - jh.

]

ACTUAL.

co IlEl

_, _......J.-

1 -, --'-

t.

.i

--.- 1

........I - ----,...*..

I\\,'

"Ii

,I'..-II-ICOMMIT I*E

'60%

I z

L" i, I I

J,'"I i

'I

a.

40 2000 FUNDING STATUS 30 AMOUNT PERCENT COMMITTED

$56.217.000 48%

20%

ACTUAL

$85.122,000 72%

'FLOOR

$44.973.000 38%

10%

199 19 19II 2`18 01 2

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

Sou'rlIEIN CAI.IFORNIA tIJusLIC POWER AUTIIOItI'rY 2000 PALO VERDE AI.L UNITS FUNDING STATUS TERIt~lNATION COST; FUNDING (IN TIIOUSANDS) 1)

ALIT'rIORIZED FUNDING PI.AN FUND lEST. COST DE'C DEC DEC DIC DEC DEC DEC DEC DEC II)I'C DEC DEC DEC nrc DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC DEC Drc DEC DEC DEC DI)EC I)DEC DI-C I')91 1992 1993 1994 1995 1996 1997 1998 1999 20)0 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 20127 (71 FUNDING4FLO6)ORC 1R1 FUNDING fLOOR CURVE

%FUNDLD 22%

17%

22%

27%

29%

33%

37%

41%

45%

48%

51%

55%

58%

61%

64%

66%

69%

71%

74%

76%

79%

31%

83%

85%

87%

89%

88%

89%

91%

96%

97%

99%

100%

CRITERIA PERCENT 80%

80%

30%

80%

81%

82%

83%

84%

85%

86%

87%

88%

89%

90%

91%

92%

93%

94%

95%

96%

97%

100%

18%

14%

18%

21%

23%

26%

30%

33%

36%

38%

41%

44%

46%

48%

51%

54%

57%

60%

63%

66%

68%

71%

74%

77%

79%

82%

85%

87%

90%

94%

95%

100%

YEAR II) -=I 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 85,479 90,607 96,043 104,939 111.236 117.91 95%

62%

26%

25%

34%

43%

53%

58%

64%

72709 Page 19 S11.289 14.233 19.099 24.487 24.809 30.204 35,507 43.016 50,047 36.217 64,124 72.384 80.940 90.262 100.412 110.307 122,244 133,958 147.314 161.074 175.917 192.061 208,614 226.463 246.636 267.425 278.394 300.172 324,706 364,379 387.849 416.146 430.953 453.801 481.741 352.671 192.739 S51.213 81.696 86.598 91,794 85.478 90.607 96.043 104.939 111.236 117.910 124.984 132.484 140.433 148,859 157.790 167,257 177.293 187.930 199.206 211.159 223.828 237,258 251.493 266.583 282.578 299.533 317.505 336.555 356.748 378.153 399.655 421.062 442,115 464.221 487.432 352.671 192.739 AMOUNT S9.031 11,386 15,279 19.590 19.847 24,163 28.406 34.413 40.037 44,973 51.299 57.907 64.752 72.210 80,641 89.315 99.780 110.683 123.187 136.306 150.635 166.364 182.788 200.691 221,037 242,342 254,941 277,875 303.827 349,348 379.728 416.146 436.953 458.801 481.741 352,671 192,739

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 Pill 3mr2 0I 15/'0074

Department of Water & Powcr Palo Verde Project Termination Cost Funding Unit Iil oat~

I'Crid ContE&uWn h~muh in

£fd I I.,.. 7 II

-,,,I nc i

Unit 3 11 Grand "ol I

tuioA Con0ribution 0L u

Contrii Interet 6,096,351 L.

12/31/90 10 2,444.200 3

6/30/91 11 223.326 106.706 2,774,232 9

12/31/91 12 223.326 429,941 3,426,499 10 6/30/92 13 223.326 116.369 3.766,694 Ii 12/31/92 14 434.027 104,372 4.305,593 12 6/30/93 15 445,545 90.354 4,841.992 13 12/31/93 16 431,919 37.753 5,361.664 14 6/30/94 17 431.919 111,532 5.905,115 15 12/31/94 Is 431,919 (131,334) 6,205,700 16 6/30/95 19 431,919 404,393 7,042,517 17 12/31/95 20 1.75.5562 262.531 9,060,617 13 6/30/96 21 1,755.562 260.302 11,076,431 19 121/31/96 22 1,593,396 253.223 12.928.100 20 6/30/97 23 1,593,396 247,064 14.768.560 21 12/31/97 24 1.593.396 565,373 16.927.329 22 6/30/93 25 1.593.396 733.933 19.260.153 23 12/31/93 26 1.593.396 996.203 21.49,762 24 6/10/99 27 1.629,213 (214.470) 23.264.510 25 12/31/99 2R 0

211,345 23.475.55 26 6/30/00 29 0

352.97 24.328.752 27 12111100 30 0

1,765.612 26.094.394 23 6/30/01 31 (122,340) 913.304 26,S5.358 29 12/31/01 32 (122,340) 940.933 27,704,006 30 6/30/02 33 (122,340) 969.640 28.551,307 31 12131102 34 (122.340) 999.296 29,423,263 32 6/30/03 35 (122.340) 1,029.939 30,335,912 33 12/31/01 36 (122,340) 1,061,757 31,275.330 34 6/10/04 37 (122,340) 1,094,637 32.247,627 35 12/31/04 33 (122.340) 1,123,667 33,253.954 36 6/30/05 39 (122,340) 1,163,83 34,295,50) 37 12/31/05 40 (122.340) 1.200.341 35.173.506 33 6/30/06 41 (122.340) 1,233.073 36,439,239 39 12/31(06 42 (122,340) 1,277.103 37,644,021 40 6/30/07 43 (122.340) 1,317.541 38,839.224 41 1211107 44 (122.340) 1,359,173 40,076,257 42

(./ 1 0 / o 1 4 %

( 1I. _. % 4 0 )

1,4 0 2. 6 6!,

1.(,,.,)

4 1 232.478 105.780 232.473 490.438 232,473 111.934 423.694 129.716 421.o072 173.551 414,8:4 93.983 414.894 10,343 414,.34 (120,146) 414,334 339.916 1.669.739 235.53S 1,669,739 197,615 1.753.112 211.610 1,753.112 233,202 1.753.112 593,350 1.753,112 794.564 1.753,112 653,344 1.750.953 113,371 0

346,764 0

304,593 0

1.536.294

()3,443) 919.422 (93.443) 943,331 (93.443) 978,252 (93.443) 1.009,220 (93,443) 1,041,272 (91.443) 1.074.446 (93.441) 1.103.792 (93,443) 1,144,313 (93,443) 1, 191.099 (93.441) 1,219.167 (93,443) 1,258,567 (91,443) 1,299,347 (93,443) 1,341.553 (91,443) 1.135.237 (C).411) 1,410.I%0 2,159.244 2.497,502 3.220.413 3.564,330 4,118,240 4,712,863 5.221,635 5,646,562 5,941,600 6,696,400 8.601,724 10,469,073 12,433,SOO 14,425.114 16.762.076 19.309.752 21,716,709 23,591,512 23.923,296 24,732,894 26.269.197 27,0-)S.166 27,950.054 23.34,363 29,750.640 30,698,470 31,679.473 32,694,912 33,745.633 34.331,344 35,959,068 37,124,192 33.30,096 39,573,207 40.170.001 47,207.00g 6

7 3

9 10 II 12 13 14 15 16 17 is 19 20 21 111 23 24 25 26 27 23 29 30 31 32 33 34 35 36 37 39 39 40 II 1,493,407 270.890 71,900 1,336,197 270.890 432,437 2,539,524 270,390 77,462 2.337,176 464,724 84.937 3.437.537 477,502 111,010 4.026,049 462.937 52.475 4.541.511 462,937 47,973 5,052.476 462.997 (159,63) 5,355,600 462.997 295.915 6,114.502 1,334,499 131,886 3,130,817 1,334,499 152,131 10,217,517 1.963,492 150,991 12,332,000 1,963,492 134,312 14,430,304 1,963,492 399,527 16,843,323 1,963,492 549.326 19,356.141 1.961,492 511.371 21.331,004 1.929.329 (245,230) 23,515,553 0

316,063 23,331,616 0

773,362 24,609,973 0

1.623,514 26.233,492 (31,324) 913,172 27,120.340 (31,324) 949.212 23,013.223 (31.324) 931,333 23,933.242 (31,324) 1,014,533 29,971,507 (31,324) 1,049,003 30,989,135 (31.324) 1.034.621 32.042.483 (31.124) 1,121.437 33,132,646 (31,324) 1,159,643 34.260.964 (31,124) 1,199,134 35,423,774 (31.324) 1,240,007 36.637,457 (31,324) 1,232.311 37,93,.444 (31.324) 1,326.096 39,133,215 (31,324) 1.171.411 40.521.304 (31,324) 1,419.31r, 41,910.295 (11.121)

I. IA(..K3t.0 It 14%,.x %

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 5.309.00 5,309,300 5,310,000 5,310.000 5,310,000 5,310.000 5,110.000 S,310,000 0

6.096.851 284,336 7,107,931 1,351,316 9,136.441 306,265 10,219.400 319,525 11,861,370 375.415 13,50o.904 134.116 15.124.310 169,353 16.604,453 (411,343) 17,502,.90 1.040.729 19.353.419 630,009 25,343,22 610.043 31.763.076

.620.,24 37.693,9 670.073 41,671,973 1.549-750 50,533,223 2.012.123 57.926,051 2,161,423 65,397,474 (345.879) 70,361.595 0

1174.172 71.235.767 0

2.435.156 73.671.623 0

4,925.450 73.597.074 (247,107) 2.750.1911 V1,100.965 (247,107) 2,133.530 33,692,.33 (247,107) 2.929.230 86.374,412 (247.107) 3,023,104 39,150.410 (247,107n 3,120,264 92.023,567 (247,107) 3.220,325 94.997.236 (247.107) 3.324.905 93,075.034 (247,107) 3,432,623 101.260.606 (247,107) 3.544,121 104,557.620 (247,107) 3,659,517 107,970.030 (247,107) 3,773,951 111.501.X75 (247.107) 3,902.566 115.157.314 (247.107) 4,030.507 1111.940.714 (247.107) 4,162.926 122,956.551 (217,107) 1*2-M.97.0 IX.,.O.426 II I In,! )

1131-inc

Departmcnt of Water &8 Power Palo Verde Project Termination Cost Funding

,,..,)

I I Unit 3 1

Unit t I

I A

ln,..

t'*',,nI

('nlstliflf Inir,~,

ltilne (31,324) 1,517,104 (31,324) 1,569,106 (31.324) 1,622,929 (31,324) 1,671.635 (31.324) 1,736,291 (31,324) 1,795,965 (31,324) 1,857,727 (31,324) 1,921,651 (31.324) 1.937,313 (31,324) 2,056,290 (31,324) 2,127,164 (31,324) 2,200.512 (31.324) 2,276,440 (31.324) 2,355,029 (31,324) 2,436,343 (31,324) 2,520,524 (31,324) 2,607,646 (11,324) 2,697,217 (31,324) 2,791,144 (31.324) 2,337.731 (11.324) 2.997.713 (31,324) 3.091.126 (31.324) 3.19,231 (31.324) 3,109,125 (312324) 3.423,343 (31.324) 3.542,536 (31.324) 3.665,430 (31.324) 3,792,676 (31,124) 3,924,323 44,331,612 46,369,394 47,960,999 49,603,310 51,313,276 53,077,917 54,904,320 56,794,647 53.751,136 60.776,101 62,871,941 65,041,135 67,286,250 69,609,945 72.014,969 74,504.169 77,030.491 79,746,914 32,506,304 85,363,211 13,319,607 91,179.469 94,546,427 97.124,227 101,216.751 104.721,014 108.362.170 112.123.522 1 16,016.520 Grand Tot'l Cnnt~~xgnd Toital rl c*

t b

t f..........

OU I

(247,107) 4 (247,107) 4 (247.107) 4 (247,107) 4 (247,107)

(247.107)

(.47.107)

(247.I07)

(247,107)

(247.107)

(247,107)

(247.107)

(247,107)

(247.107)

(247,107)

(247,207)

(247.107)

(124.767)

(11.324)'

(31.324)

.441,130 4.531.645

.,740,599 4.397,371

.,060,641 1,2291,22 5.403.493 5,513.966 5,770.756 5,964,094 6.164,173 6.371.276 6,535.6!2 6.307.470 7.037,032 7.274.731 7,520,691 7,775,274 3,033,760

,311,463 3,593.720 1,385.152 9,111.201 9.501.247 9.25.031 6,906,293 7,143,647 3,792,676 3,924,323 131,104.150 135,445.631 139,939,1311 144,539,946 149,403.437 154,335.503 159,541,339 164,373,743 170.402,393 176.119.375 112.036,447 123,160,616 t94,499,132 201,059,494 207,149,470 214,377,094 222.150.636 229.67,3854 237,470.507 24S,534.2116 253.3 12.4112 262.520.227 271,461,329 M20.715,369 290.291.102 204.104.191 211.122,3069 1, 12Q.522 I 116.016,520 46 47 43 49 50 51 52 53 54 55 56 57 53 59 60 61 62 63 64 65 66 67 63 69 70 12/31/03 6/30109 12/31/09 6/30/10 12/31/10 6/30/11 12/31/11 6/30/12 12/31/12 6/30/13 12131113 6/30/14 1V/31/14 6/30/15 11/31/15 6/30/16 12/31/16 6/30/17 6/30/11 12/31/118 6/30/19 12/31/19 6/30/2`0 12131120 6/30/21 12/11/:21 6/30/20 12/31/22 (122,340)

(122.340)

(122,340)

(1 22.340)

(122,340)

(122.340)

(122,340)

(122.340)

(122,340)

(122.340)

(122.140)

(222.340)

(122.340)

(1222,340) 1.447.481 1.493.860 1.541,364 1,591.547 1.642,969 1,696.191 1,751.276 2,308,289 1,867,297 1,923,371 1,991,582 2,057,005 2.124.719 2,194.802 2.267.338 2,342,413 2,420.115 2.500.53S 2,531,775 2.669925 2.759,090 2,151,377 2,946,893 3.045,752 3.143.072 42,61,7.727 44.053.243 45,472.772 46,941.930 43,462,609 50.036.461 51,665,398 53.351,347 55,096,304 56.902,335 53.771,573 60,706,243 62,703,622 64,731.014 66,926,03) 69.146,156 71,443,932 73.22,130 76,.23,565 73311,2150 11,467,901 14,196,937 17,021,491 19,944,903 92.970,636 44 45 46 47 43 49 so 51 52 53 54 55 56 57 53 59 60 61 62 61 64 65 66 67 63 69 70 (93.44.3)

(93.443)

(9 3.4 43)

(93.443)

(93,4.43)

(93.443)

(93,443)

(93.443)

(93,443)

(93.443)

(93,443)

(93.441)

(9,.443)

(93,4413)

(93.443)

(93,443)

(93.441) 1.477,245 1,525,673 1.575,307 1,627,689 1.691.32, 1,736.966 1,794,489 1,354,026 1,915,646 1,979,424 2,045,433 2,113,752 2,214,463 2,257,649 2.333.396 2.412,795 2,492,937 2,576,919 2,663,841 2,753,305 2,46,917 2,943,239 3,043,034 3,146.269 3,253.113 3,363,707 3,473,166 43,590.311 45,023.046 46.505,410 43.039.656 49,627,601 51,271,t25 52.972,171 54,732,754 56,554,953 53,440.933 60,392,923 62,413,233 64,504.253 66.663,464 63,903,413 71,226.770 73.626,264 76.109.740 78,680.133 31,340,500 34,093.975 36.943.21 9,393,412 92,946.233 96,105.914 99,376,173 I02.760.899 42 43 44 45 46 47 43 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 63 6')

70 Pgce I I I

i I

I 0:11,111c Perm ontri mium Icrell U x D-is 11ci Cont tbihuio00

DWP PALO VERDE UNIT 1 FUNDING PLAN 6MMITTED --*-FLOOR A CTUAL o%

..-v......

70%

50%

U u

40%

2000 FUNDING STATUS 3, 0%

$0 AMOUNT PERCENT COMMITTED 13,348 43%

20%

ACTUAL

.23,476 74%

10%

F' F FLOOR 10,679 34%

0%

I 1991 1994 1997 2000 2003 2006 2009 2012 Year 2.

I.--I -

2--I 20-2 2015 2018 2021 2024 Paige 12

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

(I)

(2)

(3)

(4)

(5)

(6)

(7)

(3)

(9)

Authorized Fundng Plin Funding Floor Curve Actual Fundinr MRmh Ys-Ir E1&

EIL-QM % Esifl~

C~rilen Percenlt

$ Armo E~nd Est, Cot (1*)

X (3)

(3) X (4) (1) X (4)

(7)1)

DEC 1991 3.261 15,677 21%

30%

17%

2.609 3,426 15.677 22%

DEC 1992 4,330 25,.32 17%

30%

13%

3,464 4,306 25.332 17%

DEC 1993 5,513 27,124 20%

80%

16%

4.410 5,362 27,124 20%

DEC 1994 6,730 23,430 24%

30%

19%

5,424 6,206 23,410 22%

DEC 1995 6,934 25.682 27%

30%

22%

5,547 9,061 25,612 35%

DEC 1996 8,359 26.966 31%

30%

25%

6,683 12,923 26,966 48%

DEC 1997 9,627 23,314 34%

30%

27%

7,702 16.923 23,314 60%

DEC 1993 11,759 31,732 37%

30%

9.407 21,350 31,732 69%

DEC 1999 13,343 33.371 40%

30%

32%

10.679 23.476 33.371 70%

DEC 2000 15,067 35,040 43%

30%

34%

12,054 26,094 35,040 74%1 DEC 2001 16,924 36,792 46%

30%

37%

13,539 DEC 2002 13,929 33,631 49%

30%

39%

15,143 DEC 2003 21.093 40,563 52%

30%

42%

16.874 DEC 2004 23,425 42,591 55%

30%

44%

13,740 DEC 2005 25,933 44,720 53%

31%

47%

21,010 DEC 2006 23,643 46,956 61%

32%

50%

23,433 DEC 2007 31,555 49,304 64%

13%

53%

26,190 DEC 2003 34,636 51,770 67%

84%

56%

29.136 DEC 2009 37,S07 54,353 69%

35%

59%

31,331 DEC 2010 41.095 57,076 72%

36%

62%

35,341 DEC 2011 44.947 59,930 75%

87%

65%

39,104 DEC 2012 49,032 62,926 79%

83%

69%

43,193 DEC 2013 53,519 66,072 31%

39%

72%

47.632 DEC 2014 57,532 69,376 33%

90%

75%

513.24 DEC 2015 62.647 72,345 36%

91%

73%

57,003 DEC 2016 63,074 76.437 919%

92%

82%

62,623 DEC 2017 73,337 30,312 92%

93%

36%

63,715 DEC 2013 79,267 34,327 94%

94%

38%

74,511 DEC 2019 85,887 83,543 97%

95%

92%

81,593 DEC 2020 92.971 92.971 100%

96%

39.252 DEC 2021 97,619 97.619 100%

97%

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

98%

100.450 DEC 2023 107,625 107,625 100%

99%

106.549 DEC 2024 113,006 113,006 100%

100%

113.006 DI'C 2025 113.657 118,657 100%

100%

100*%

113.657

DWP PALO VERDE UNIT 2 FUNDING PLAN 1IE

-*FLOOR -A--

A L 90%

80%

70%

qj

6001, 50%

40 2000 FUNDING STATUS 30%

$AMOUNT PERCENT COMMITTED 15,492 42%

20%

ACTUAL 26,269 71%

10%

-FLOOR 12,393 34%

1991 1994 1997 2000 2003 2006 2009 2012 2015 2018 2021 2024 Year Page I II

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

Monib Yt=a DEC 1992 DEC 1992 DEC 299 DEC 2994 DEC 1995 DEC 1996 DEC 1997 DEC 1991 DEC 1999 DEC 2000 DEC 2001 DEC 2002 DEC 2003 DEC 2004 DEC 2005 DEC 2006 DEC 2007 DEC 2001 DEC 2009 DEC 2010 DEC 2011 DEC 2012 DEC 2023 DEC 2014 DEC 2015 DEC 2016 DEC 2017 DEC 2012 DEC 2029 DEC

.1020 DEC 2021 DEC 2022 DEC 2023 DEC 2024 DEC 2025 Drc 2026 (1)

(2)

(3)

Authoriyrd Fund,nz Plan Fund So Cni%

iunld (2) X (3) 3.055 15,542 4,104 25,418 5,237 26.689 6.449 23.023 6.931 26,658 8.397 27.991 9,699 29.390 12,044 33.456 13.700 35,129 15.492 35,2S5 17.421 33.730 19,520 40.666 21,777 42,699 24,210 44,334 26,363 47,076 29.164 49,430 321.79 51,901 35.423 54.496 38.331 57.221 42,053 60,0S2 46.053 63.096 50.343 66,241 54.251 69,55) 59.255 73,0)0 64,411 76,692 69,244 30,516 7S.242 34,542 11,667 58.769 11,547 93,207 93,953 97,16t 102,761 102.761 107,399 107.399 113,294 213,294 2118,959 112,959 214.907 124,907 131.I11i I11.2%!

20%

16%

20%

23%

26%

30%

33%

36%

39%

42%

45%

43%

51%

54%

56%

59%

62%

65%

67%

70%

73%

76%

79%

31%

84%

96%

S9%

92%

95%

96%

100%

(4)

(5)

(6)

Funding Floor Curve Cniwi Peurcnt LAm um 30%

10%

90%

o0%

30%

0o%

80%

o0%

80%

30%

90%

30%

90%

81%

82%

83%

34%

35%

36%

97%

83%

89%

90%

91%

92%

93%

94%

95%

96%

97%

93%

99%

100%

(3) X (4)

(1) X (4) 16%

2.444 13%

3,283 16%

4.190 18%

5,159 21%

5,545 24%

6,713 26%

7,759 29%

9.635 31%

10.960 34%

12.393 36%

23,943 33%

15,616 41%

17.411 43%

19,368 45%

21.090 41%

23.622 51%

26.37 54%

29.401 56%

32,204 60%

35,749 63%

39.606 66%

43,793 69%

47,741 72%

52,643 76%

57.971 73%

63.012 t2%

69.223 36%

75,951 39%

33,234 91%

99,255 96%

93.650 97%

104.662 99%

22.023 99%

117.769 100%

V4.907 200%

131.1S2 (7)

(3)

(9)

Actual Funding Eund USL= %wd (1;)()

3.220 15,542 21%

4.113 25,413 16%

5.222 26,619 20%

5.942 21,023 21%

8.602 26,651 32%

12.434 27.992 44%

16,762 29.390 57%

21,717 33.456 6%

23,923 35,212 63%

26.269 36,185 71%1

DWP PALO VERDE UNIT 3 FUNDING PLAN I

COMMITTED -+- FLOOR 6 ACTUAL

._ :7z.-

FL-

_-_ mZ v.

_7_

_ -. 7_]-z7-T-T -

100%

90%

80%

70%

60%

50%

40%

30%

20%

10%

Pare 16 SAMOUNT PERCENT COMMITTED 15,467' 39%

I ACTUAL 26,233 66%

FLOOR 12,374 31%

1997 2000 2003 2006 2009 2012 2015 2018 2021 2024 Year 0i U

114

'a 0% I 1991 1994 2027 I

I

DEPARTMENT OF WATER &8 POWER 1999 PALO VERDE UNIT 3 FUNDING STATUS TERMINATION COST FUNDING (In Thousand $)

(i)

(2)

(3)

Authorized Funding Plan Manh Y=u Fund EUC=

%Eunde (2) X (3)

DEC 1991 2.452 17.248 DEC 1992 3.452 27.160 DEC 1993 4,636 28.513 DEC 1994 5.905 29,944 DEC 1995 6,923 30,100 DEC 1996 1,217 31.605 DEC 1997 9.956 33.185 DEC 1991 11,371 35.973 DEC 1999 13.591 37.772 r DEC 2000 15,467 39.660 DEC 2001 17,490 41.643 DEC 2002 19.676 43.725 DEC 2003 22.033 45.912 DEC 2004 24.536 48.207 DEC 2005 27.334 50,618 DEC 2006 29,763 53.149 DEC 2007 32,925 55,106 DEC 2003 36,330 58.596 DEC 2009 39,992 61,526 DEC 2010 43,234 64.602 DEC 2011 47.431 67.332 DEC 2012 51.994 71,224 DEC 2013 56,.37 74.795 DEC 2014 61,249 73.525 DEC 2015 66,735 92.451 DEC 2016 72,722 36.573 DEC 2017 78,176 90.902 DEC 2013 14.948 95.447 DEC 2019 92.202 100,219 DEC 2020 99,969 105.230 DEC 2021 103,232 110,492 DEC 2022 116,017 116,017 DIEC 2023 121,317 12I.R17 DEC 2024 127,909 127.908 DEC 2025 134.304 134,304 DEC 2026 141.019 141A019 DEC 2027 14A.070 14A.070 14%

13%

16%

20%

23%

26%

30%

33%

36%

39%

42%

45%

43%

51%

54%

56%

59%

62%

65%

67%

70%

73%

76%

78%

81%

84%

36%

39%

92%

95%

99%

100%

(4)

(5)

(6)

Funding Floor Curve C, uigre Pn E

1 S.Amauf (3)X(4)

(1)X(4) 30%

10%

30%

t0%

80%

30%

80%

10%

30%

80%

30%

80%

30%

80%

30%

91%

82%

83%

84%

35%

36%

17%

83%

39%

90%

91%

92%

93%

94%

95%

96%

97%

93%

99%

lo0"y.

11%

1.962 10%

2.762 13%

3,709 16%

4.724 18%

5,533 21%

6,574 24%

7.964 26%

9.497 29%

10.873 31%

12.374 34%

13.992 36%

15,741 38%

17.630 41%

19,669 43%

21,367 45%

23,811 47%

26.340 50%

29.427 53%

32,793 56%

35.925 59%

39,335 62%

44.195 65%

48.380 63%

53.237 71%

53.771 75%

64.722 77%

70.358 81%

77.303 35%

34,326 88%

92.971 92%

101,785 95%

110.216 96%

116,945 97%

124.071 99%

131,613 99%

139.609 100%

14B.070 (7)

(3)

(9)

Actual Funding Eund Fc-r E% nded (7)/(3) 2.540 17.243 15%

3.433 27,160 139 4.542 23.513 16%

5.356 29,944 11%

8.131 30,100 27%

12.332 31.605 39%

16,343 33,135 51%

21.831 35.973 61%

23.32 37,772 63%

26.233 39.660.

66%i

DWP PALO VERDE ALL UNITS FUNDING PLAN 100%.I_.._I..I

_I.._

.. I

---COMMITTD -rn--FLOOR 6--C7VAL 80%

70%-

u60%

S50%

u 40% ~2000 FUNDING STATUS

$AMOUNT PERCENT 30%

COMMITTED 46,026 41%

ACTUAL 78,596 70%

10%

FLOOR 36,821 33%

0%

1991 1994 1997 2000 2003 2006 2009 2012 2015 2018 2021 2024 2027 Year Paie Is

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

(I)

(2)

(3)

Authorized Funding PlIn mnanh YM Ewud f C-1 YEundrd (2) X (3)

DEC 1991 3,763 48.467 DEC 1992 11.86 78,410 DEC 1993 15.336 32.3)1 DEC 1994 19.134 36.447 DEC 1995 20.718 12.440 DEC 1996 24.974 36.562 DEC 1997 29,231 90,390 DEC 1991 35.675 101.211 DEC 1999 40.646 106.272 DEC 2000 46,026 111.585 DEC 2001 51.343 117,164 DEC 2002 538.125 123.023 DEC 2003 64.907 129.174 DEC 2004 72.221 135.632 DEC 2005 79,634 142.414 DEC 2006 37,570 149.535 DEC 2007 96,659 157.011 DEC 2001 106,433 164.862 DEC 2009 115,337 173,105 DEC 2010 126.436 111,760 DEC 2011 133,413 190.43 DEC 2012 151,419 200.391 DEC 2013 164,607 210.410 DEC 2014 177,986 220,931 DEC 2015 193.144 211,977 DEC 2016 210.039 243.576 DEC 2017 227.304 255,755 DEC 2013 245.833 263,543 DEC 2019 266.636 231.970 DEC 2020 236,892 296,069 DEC 2021 303.662 310.872 DEC 2022 326.416 326,416 DEC 2023 342.736 342.736 DEC 2024 359,373 359,373 DEC 2025 377,867 377.67 DEC 2026 272.171 272.171 DFC 2027 143.070 143.070 18%

15%

19%

22%

25%

29%

32%

35%

33%

41%

44%

47%

50%

53%

56%

59%

62%

65%

67%

70%

73%

76%

71%

81%

84%

86%

39%

92%

95%

97%

99%

100%

(4)

(5)

(6)

Funding Floor Curve Cnu Perem SLAmnunt (3) X (4)

(1) X (4) 80%

30%

10%

80%

30%

80%

10%

30%

80%

81%

32%

83%

84%

85%

86%

87%

83%

39%

90%

91%

92%

93%

94%

95%

96%

97%

93%

99%

100%

14%

7.014 12%

9.509 15%

12.309 I1%

15,307 20%

16.631 23%

19,979 26%

23.425 28%

23.540 31%

32.517 33%

36,321 35%

41.474 33%

46.500 40%

51,926 43%

57.777 45%

63,707 47%

70,932 50%

79,260 54%

33,343 56%

97.303 59%

107.470 62%

119,095 66%

131,734 69%

144,354 72%

153,407 75%

174.460 78%

191,135 82%

209,120 35%

228.671 89%

250.638 92%

272.543 95%

296.316 97%

316,623 98%

335,32 99%

356,274 100%

377,867 100%

272,171 100%

143,070 (7)

(3)

(9)

Actual Funding Fund Fq CnL% ~Fl7nd)

(7)/1()

9,116 48.467 11,362 78,410 15,126 82.331 17,504 86,447 25,844 32.440 37,694 86,562 50,533 90,390 65.398 101,211 71.236 106272 78,596 111.535 19%

15%

1i%

20%

31%

44%

56%

65%

67%

70%1

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.

PPlOotA o 6ndko to 0.76ff

.PdtM (n Ex.el.

PJH 3/g/01

.This Amendment No. 5, dated as of June 2000, to the Amended and Restated Deconnmssioning Trust Agreement (PVNGS Unit 2), dated as of January 31, 199Z as amended by Amendment No. I thereto dated as of.November I, 1992, Amendment No. 2 theret9 dated as of November 1, 1994. Amendnment No. 3 theieto datid as of June 20, 1996, and Amendment No. 4 thereto dated as of December 16, 1996 (the "Decoornisioning Trust Agreement"; terms used herein as therein defined), is entered into.between Arizona Public Service Company C"AS M ), State Street Bank and Trust Company, as s*ccessor to The First National Bank f Boston, as Owner Trustee and asLessor, and Mellon Bank, NA, as Decommsin Tn C'efDeco inisi~nlg Trustee").

t.....

]*CI'IA*LS-,.

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

_AG REE MENT S:

SECTION 1. Amendment.

Paragraph (1) of Exhibit B to the Decommissioning Trust Agreement is hereby deleted andiS replaced in is entirety by the following:

(1)

(x) corporate equity securities, including but not limited to, investment in units of common or collective trust finds investing in corpbrate equity securities; including. but not lirmited to, the Decommissioning Trustee's Nuclear Decomuissioning 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 n6 more than fifty percent (50%/6) of the aggregate assets of the Funds may b" invested in securities described in (x) and (y) of this subparagraph (I) during the period from June 27, 1996 through December 31, 2003, no more than thirty"percent (300%) 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 firther that after January 31, 2010, no investments shall be made in such securities.

SECTION 2. Effectiveness.

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

SECTION 3. MIscellaneous (a)

Full Force and Effect.

Except as expressly provided herein, the Decorm ssigning.Tnist Agreement shall remain unchanged and in full force and effect Each refirence.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 Decommnissioning Trust Agreement as amended hereby.

(b)

Counterpat 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.

Th7s Amendment No. 5 shall be construed in accordance wiih and governed by the law ofthe State of Arizona.

IN WINhESS 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 _

__j_ _ __r__

MELLON BANKN.A., as Decomrissioning Trustee Title

?,Z6: S14676A7 CATEMPT~AP6353.6oc 07/18/00 09:57 FAI

.YLL I?7 2O 1j4:43 FR B OF FAEMICA 415 765 7373 TO 916*250642 Z Dos P.O/2 MIEU2N BANK N-A, u Dconmmissi'oningTrustee STATE STREET BANK AND TRUST COMPANY, as owner Trustee unde a Trust Agremcot with Security Pacific Capital Leasding Corporaon and as L

=ssor uder a Facilihy Le with Arizona Public Sevice Company BY Tle J)ASSISTANT VICE PRESIDENT STATE STREET BANK AND TRUST COMPANY, as Owncr Trustee under a Trust Agre*ment with E*mmwn Finande Co. and as Lessor "unde" a Facility Lease with Arizona Public Service Company By Title (ASSISTANT VICE PRESIDENT E~mEcU==EBTBAN53.4cc STATE OF ARIZONA County of Maricopa

) )ss.

The foregoing instrument was acknovledged before me this i day of

""b-

"2000, by *A 41A/..

te

4.

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

~~~~

~

.5.5es

~Pu~blic."-

U-rar ioa~P:

'SZAN W.DEE qP e'1tMý=RJOJC0PPAA

=00M MY ComLEqu JUM2% NMI3 STATE OF Countyo"

) )ss.

"The foregoing instrument was acknowledged before me this /Y.

.day of 2000, by "bisco'r. &o*"c*c.,,

a Trust Officer of MELLON BANK, N.A., a corporation having trust powers, as Decommissioning Trustee, on behalf of said corporation.

My comnission -pires:

Nvtatil Seal Leom Eaken. Notaiy publc

~Pisb4ggt. Afehn County my cofsc.,rss 40,M.

=

8, M rt, er, Pesrazs.,: A vscc, !k &. r r..neas

'S C.ATEMPOBAP6353.doc l qoiary PubUc

07/18/00 09:58 FAX P.

1007

JLL V7 22M 14:43 FýR BA4< CF RW ICA 41S 765 7373 To qiea22585640

?2 STATE OF O S 4C FySET

)lr CountyoI)f fO The f~oin stramzt W=s acnw ledged before me this 4kday of

_______E=&.J.b Vn ice~a 4Ui rWsU'V'4-of STATE

STREET 141,. AND TRUTST COMPANY, a MjassachuzsettS Umst coEpn,4 tsCpcya

owner Trustee under a Trust Agrmnmct with SeuidtY pacjfic'Cgp Leasing Corporation, and Ls L~sar undmr a Facility Leac with A&0zna Public Servicg pany. oa behalf of said asociation in such capaitims Mycommission CxPhre

,.AMES UA CLXJC Noc Couty of -S Lt Ff'fL V Thm foregoing instrcn~t was acknow1~ged befbor me thsIa U day of bece.~e,-

2000, by -33Isr, Convi th4 -,_s5 az Yir c e T~ PrysSe-

.iAfOf STATE STREET BANK AND TRUST COMPANY. a Massachusatts tzUst company-i= iti caPacity as O)wmer Trustee under a Trust Agrmeaet with Ern~on Financ CO-, and Is Lessor under a Facility Lease with Arizona Public Service Company, on behalf of sid asso~aion in'such capacities.

Notary P01~C My commission expires:

m I G~

PLA.I

19. "'ML0 fLoECU ry PE3aA5'd0

- TOTF-PAMc.V07I

Dete-dperAPSLetterlO2-04823, datedAugustl, 202 Enclosure

,ea e Xtina Information be Wlic Disclosure Withheld Fi

Deletedper APS Letter 102-04823, datedAugust 1, 2002 AFFIDAVIT OF GREGG R. OVERBECK Gregg R. Overbeck, Senior Vice President,.Nuclear, of the Arizona Public rvice Company (APS), do hereby affirm and state:

"I.

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 on 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 s uld be held in confidence by the N and withheld from public di losure pursuant to 10 CFR §,2 90, because:

iL 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 PS, a 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 10CFR

§ 2.790.

DefetedperATS Letter 102-04823, datedAug

. j fm Arizona Public Service Company/

OF ARIZONA COUI State above to me, a Notary Public, in and for

- day of March, 2001.

/

County and I

My

1573394

ML022270702

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ML022270702

Text

Dear Sirs:

Reference:

Subject:

Dear Sirs:

Subject:

Dear Sirs:

Subject:

Enclosures:

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