ML022400077
| ML022400077 | |
| Person / Time | |
|---|---|
| Site: | Nine Mile Point  (DPR-063, NPF-069) |
| Issue date: | 08/16/2002 |
| From: | Wolniak D Constellation Generation Group |
| To: | Office of Nuclear Reactor Regulation |
| References | |
| NMP1L 1684 | |
| Download: ML022400077 (9) | |
Text
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i P.O. Box 63 Lycoming, New York 13093 Constellation Generatm ionaop Nine Mile Point Nudear Station August 16, 2002 NMP1L 1684 Director of Nuclear Reactor Regulation U. S. Nuclear Regulatory Commission Washington, DC 20555 Nine Mile Point Unit I Docket No. 50-220 DPR-63 Nine Mile Point Unit 2 Docket No. 50-4 10 NPF-69
Subject:
Guarantee of Retrospective Premium
Dear Mr. Collins:
Pursuant to the Commission's requirements stated in 10 CFR 140.21, attached are:
- 1.
A copy of quarterly financial statements as of June 30, 2002.
- 2.
A copy of the projected cash flow for the twelve months ending July 31, 2003.
- 3.
A narrative statement on curtailment/deferment of capital expenditures (if any) to ensure that retrospective premiums of $10 million per reactor per year for each nuclear incident would be available for payment.
A copy of the 2001 Annual Report to Shareholders of Constellation Energy Group Company containing certified financial statements was previously submitted on June 28, 2002 (NMP1L 1675).
If there are any questions on this material, we will be pleased to provide additional information.
Very truly yours, Denise J. Woliiak Licensing Manager DJW/JJD/jm Attachments RE:
JD)I4
Page 2 NMP1L 1684 cc:
Document Control Desk Mr. H. J. Miller, NRC Regional Administrator, Region I Mr. G. K. Hunegs, NRC Senior Resident Inspector Mr. P. S. Tam, Senior Project Manager, NRR (2 copies)
ATTACHMENT 1 QUARTERLY FINANCIAL STATEMENTS AS OF JUNE 30, 2002 Constellation Energy Group Nine Mile Point Nuclear Station August 16, 2002
Constellabon Energy Group and Subsidwries Supplemental Financial Statistics Capitalization*
L.eogermn debt Company obtigated mandatodly redeemable tust preferred securities of BGE Short-term borowings BWE Preference stock Common equity Return on Average Common Equity Reported Excluding special items and cumulative effect ofchange in accounting principle Ratio of Earnings to Fixed Charges (SEC Method)
Effective Tax Rate Certain prior-period amounts have been rcasie to conform with the currentperiod's presetation.
- Capitalzation includes current portion of long-term debt and EGEpreference stock and is net of cash.
Common Stock Data 2002 Common Stock Dividends - Per Share
-Declared
-Paid
$0.24
$0.24 200.
49 2.9' 0.2T 2.2' 45.
Twelve Months Ended June 30, P2 2001 rl/A 421%
.3.1%
V.
381/
Y.
23%
4-4871%
5.5%
91%
l.87 33 1%
Three Months Ended June 30, 2001
$012
$012 Twelve Months Ended
- June30, 2002
$072
$060 12.7%
12.5%
301 37.V1.
2001
$1.08 S1.38 Market Value Per Share
-High
$32.38
-LOW S27.65
-Close
$29.34 Shares Outstauding-End of Period (In Rfidions) 164 I Book Value per Share-End of Period S
23 88 Certain prior-period amounts have been reclassifed to conform with the currentperlod'r presentation.
Inqutre. concerning this summaryshould be directedto Folh a S.ith InvewtorRelatlonr Dep Senior Vice President, 410-783-3670 Chief Finandal Ofier 410-234-5000
$50.14
$40.10
$42.60 163 7 S
24.32 artient
$43.80
$2090
$29.34 1641 2388
$52.06
$32-06
$42.60 1637 S
24.32 Consieliation Energy Group P. O.Box 1475 Baltimore. Maryland 21201
ATTACHMENT 2 PROJECTED CASH FLOW FOR 12 MONTHS ENDING JULY 31, 2003 Constellation Energy Group Nine Mile Point Nuclear Station August 16, 2002 i
Page 1 of 2 Internal Cash Flow Projection For Nine Mile Point Nuclear Station Operating Nuclear Units Nine Mile Point Unit No. I Nine Mile Point Unit No. 2 Maximum Total Contingent Liability (000) per Nuclear Incident
$176,200 Payable at Per Year (000)
$20,000 Actual Twelve Months Ended 6/30/02 Non - Cash Expenses ($000)
Depreciation and Amortization Deferred Income Taxes and Investment Tax Credits Total Percentage of Total to Maximum Total Contingent Liability Payable Per Year Nine Mile Point Nuclear Station Retained Earnings ($000)
Net Income After Taxes Less Allowance for Funds Used During Construction Less Dividends paid Total Total Internal Cash Flow Percentage of Total Internal Cash Flow Maximum Total Contingent Liability Payable Per Year
$492,700 (15,900)
$476,800 2,384.0%
Projected Twelve Months Ending 7/31/03
$556,800 (13,600)
$543,200 2,716.0%
$213,500
$88,100
$98,300
$399,900
$876,700 4,383.5%
Page 2 of 2 Constellation Energy Group Underlying Assumptions for Projected Cash Flows (1)
Depreciation is generally computed using composite straight-line rates applied to the average investment in classes of depreciable property. Vehicles are depreciated based on their estimated useful lives.
(2)
Estimates of Federal income taxes and other tax expense are based upon existing tax laws and any known changes thereto.
(3)
Accounting policies are consistent with those in effect June 30, 2002.
ATTACHMENT 3 NARRATIVE STATEMENT CURTAILMENT OF CAPITAL EXPENDITURES Constellation Energy Group Nine Mile Point Nuclear Station August 16, 2002
Page 1 of 1 Constellation Energy Group Curtailment of Capital Expenditures Estimated construction expenditures including nuclear fuel and Allowance for Funds Used During Construction for the twelve months ended July 31, 2003 are $795.5 million. To insure that retrospective premiums under the Price Anderson Act would be available during the aforementioned twelve month period without additional funds from external sources, construction curtailments would affect all construction expenditures rather than impacting a specific project.