ML032330418
| ML032330418 | |
| Person / Time | |
|---|---|
| Site: | Nine Mile Point  |
| Issue date: | 08/13/2003 |
| From: | Wolniak D Constellation Energy Group |
| To: | Office of Nuclear Reactor Regulation |
| References | |
| NMPIL 1756 | |
| Download: ML032330418 (8) | |
Text
P.O. Box 63 Lycoming, New York 13093 Conselation
_Energy Group Nine Mile Point Nudear Station August 13, 2003 NIP1L 1756 Director of Nuclear Reactor Regulation U. S. Nuclear Regulatory Commission Washington, DC 20555
SUBJECT:
Nine Mile Point Units 1 and 2-Docket Nos. 50-220 and 50410 License Nos. DPR-63 and NPF-69 Guarantee of Retrospective Premium
Dear Sir/Madam:
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, 2003.
- 2.
A copy of the projected cash flow for the twelve months ending July 31, 2004.
- 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 2002 Annual Report to Shareholders of Constellation Energy Group Company containing certified financial statements was previously submitted on June 17, 2003 (NMP1L 1736).
If there are any questions on this material, we will be pleased to provide additional information.
Very truly yours, Denise J. Wolniak General Supervisor Licensing DJW/IAA/bjh xc:
Document Control Desk Mr. H. J. Miller, Regional Administrator, Region I Mr. G. K. Hunegs, NRC Senior Resident Inspector Mr. P. S. Tam, Senior Project Manager, NRR (2 copies)
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ATTACHMENT 1 QUARTERLY FINANCIAL STATEMENTS AS OF JUNE 30, 2003 Constellation Energy Group Nine Mile Point Nuclear Station August 13, 2003
Constellation Energy Group and Subsidiaries Supplemental Financial Statistics SEx Months Ended Junne 30.
2003 2002
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ATTACHMENT 2 PROJECTED CASH FLOW FOR 12 MONTHS ENDED JULY 31, 2004 Constellation Energy Group Nine Mile Point Nuclear Station August 13, 2003
Page 1 of 2 Internal Cash Flow Projection For Nine Mile Point Nuclear Station Percentage Ownership in all Operating Nuclear Units Nine Mile Point Unit No. 1 Nine Mile Point Unit No. 2 100.00%
82.00%
Maximum Total Contingent Liability (000) per Nuclear Incident
$176,200 Payable at Per Year (000)
$20,000 Actual Twelve Months Ended 6/30/03 Non - Cash Expenses ($000)
Depreciation and Amortization Deferred Income Taxes and Investment Tax Credits Total Projected Twelve Months Ended 7/31/04
$620,692
$102.525
$723,217
$583,600
$157.200
$740,800 Percentage of Total to Maximum Total Contingent Liability Payable Per Year 3,704.0%
3,616.1%
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
$181,000
$(31,100)
S(161.200)
$(11,300)
$729.500 3,647.5%
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, 2003.
ATTACHMENT 3 NARRATIVE STATEMENT CURTAILMENT OF CAPITAL EXPENDITURES Constellation Energy Group Nine Mile Point Nuclear Station August 13, 2003
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, 2004 are $740.2 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.