ML050840034
| ML050840034 | |
| Person / Time | |
|---|---|
| Site: | Vogtle  |
| Issue date: | 03/04/2005 |
| From: | Appleby A Oglethorpe Power Corp |
| To: | Document Control Desk, Office of Nuclear Reactor Regulation |
| References | |
| Download: ML050840034 (5) | |
Text
Enclosure 3 Oglethorpe Power Corporation letter dated March 4, 2005
- d OglethorpePower Oglethorpe Power Corporation 2100 East Exchange Place Tucker, GA 30084-5336 phone 770-270-7600 fax 770-270-7872 An Electric A'Membership Cooperative March 4, 2005 Docket Nos.: 50-424 50-425 U. S. Nuclear Regulatory Commission ATTN: Document Control Desk Washington, D.C. 20555 Vogtle Electric Generating Plant Financial Assurance Requirements for Decommissioning Nuclear Power Reactors (10 CFR 50.75(f)(1))
Dear Ladies and Gentlemen:
Pursuant to 10 CFR 50.75(0(1), each power reactor licensee is required to report to the NRC the status of its decommissioning funding for each reactor or part of each reactor it owns on a calendar year basis, beginning on March 31, 1999, and every two years thereafter. Accordingly, Oglethorpe Power Corporation (OPC) hereby submits the enclosed information in accordance with 10 CFR 50.75(f)(1) for operating licenses NPF-68 and NPF-81 issued for Vogtle Electric Generating Plant Units I and 2, respectively. Southern Nuclear Operating Company, as the operating licensee and as an agent for the owners of the Vogtle Electric Generating Plant, is providing this information to the NRC on behalf of OPC.
Based on the information presented herein, there is reasonable assurance that the funding necessary for decommissioning of the Vogtle Electric Generating Plant, consistent with the NRC prescribed minimum set forth in 10 CFR 50.75(c), will be available on the expiration date of operating licenses NPF-68 and NPF-8 1.
Please advise if you have any questions or comments regarding the information provided herein.
Respectfully submitted, Back. d Anne F. Appleby Vice President, Treasurer Oglethorpe Power Corporation Enclosure cc: Southern Nuclear Operating Company Mr. D. E. Grissette, Vice President - Vogtle G A member of the National Rural Electric Cooperative Associaticn
U. S. Nuclear Regulatory Commission Page 2 U. S. Nuclear Regulatorv Commission Mr. C. Gratton, NRR Licensing Project Manager - Vogtle Dr. W. D. Travers, Regional Administrator Mr. G. J. McCoy, Senior Resident Inspector - Vogtle Oglethorpe Powver Corporation Betsy Higgins, CFO Michael W. Price, COO Clarence Mitchell, Sr. Vice President, Operations
Enclosure Vogtle Electric Generating Plant Oglethorpe Power Corporation Ownership Percentage - 30%
10 CFR 50.75(f)(1) Requirement Unit 1 Unit 2 1
The NRC minimum decommissioning estimate,
$ 108,464,000 2
$ 108,464,000 2 pursuant to 10 CFR 50.75(b) and (c). 1 2
The amount accumulated at the end of the
$39,572,245
$35,845,727 calendar year preceding the date of the report for items included in 10 CFR 50.75(b) and (c).
3 A schedule of the annual amounts remaining to be See Schedule in See Schedule in collected; for items in 10 CFR 50.75(b) and (c).
4 The assumptions used regarding:
(a) rates of escalation in decommissioning (a) 3.11 (a) 3.11%
costs; (b) 7.00%
(b) 7.00%
(b) rates of earnings on decommissioning funds; (c) real rate of return; and (c) 3.89%
(c) 3.89%
(d) rates of other factors used in funding (d) none (d) none projections.
5 Any contracts upon which the licensee is relying none none pursuant to 10 CFR 50.75(e)(1)(v).
6 Any modifications to a licensee's current method none none of providing financial assurance occurring since the last submitted report.
7 Any material changes to trust agreements.
Re-allocated invested assets Re-allocated invested to increase diversification asset to increase diversification NOTES:
1 The NRC formulas in section 10 CFR 50.75(c) include only those decommissioning costs incurred by licensees to remove a facility or site safely from service and reduce residual radioactivity to levels that permit: (1) release of the property for unrestricted use and termination of the license; or (2) release of the property under restricted conditions and termination of the license. The cost of dismantling or demolishing non-radiological systems and structures is not included in the NRC decommissioning cost estimates. The costs of managing and storing spent fuel on-site until transfer to DOE are not included in the cost formulas.
2 This number is based on NUREG-1307, Rev. 10, for the burial factor (Option 2) and the December 2003 values for labor and energy factors.
Schedule of the Annual Amounts Remaining to be Collected Oglethorpe Power Corporation 2004 NRC MINIMUM Vogde 1 Earnings Rate:
7 Balance Balance Year Begin Year Earnings Contribution End Year 2004 36,443,114 3,129,131 2005 39,572,245 2,770,057 2006 42,342,302 2,963,961 2007 45,306,263 3,171,438 2008 48,477,702 3,393,439 2009 51,871,141 3,630,980 2010 55,502,121 3,885,148 2011 59,387,269 4,157,109 2012 63,544,378 4,448,106 2013 67,992,484 4,759,474 2014 72,751,958 5,092,637 2015 77,844,595 5,449,122 2016 83,293,717 5,830,560 2017 89,124,277 6,238,699 2018 95,362,977 6,675,408 2019 102,038,385 7,142,687 2020 109,181,072 7,642,675 2021 116,823,747 8,177,662 2022 125,001,409 8,750,099 2023 133,751,508 9,362,606 2024 143,114,114 10,017,988 2025 153,132,102 10,719,247 2026 163,851,349 11,469,594 2027 175,320,943 12,272,466 0
39,572,245 0
42,342,302 0
45,306,263 0
48,477,702 0
51,871,141 0
55,502,121 0
59,387,269 0
63,544,378 0
67,992,484 0
72,751,958 0
77,844,595 0
83,293,717 0
89,124,277 0
95,362,977 0
102,038,385 0
109,181,072 0
116,823,747 0
125,001,409 0
133,751,508 0
143,114,114 0
153,132,102 0
163,851,349 0
175,320,943 0
187,593,409 Vogde 2 Earnings Rate:
7 Balance Balance Year Begin Year Earnings Contribution End Year W
2004 33,011,265 2,834,461 0
35,845,727 2005 35,845,727 2,509,201 0
38,354,927 2006 38,354,927 2,684,845 0
41,039,772 2007 41,039,772 2,872,784 0
43,912,556 2008 43,912,556 3,073,879 0
46,986,435 X
2009 46,986,435 3,289,050 0
50,275,486 2010 50,275,486 3,519,284 0
53,794,770 t
2011 53,794,770 3,765,634 0
57,560,404 2012 57,560,404 4,029,228 0
61,589,632 2013 61,589,632 4,311,274 0
65,900,906 w
2014 65,900,906 4,613,063 0
70,513,970 2015 70,513,970 4,935,978 0
75,449,947 2016 75,449,947 5,281,496 0
80,731,444 2017 80,731,444 5,651,201 0
86,382,645 2018 86,382,645 6,046,785 0
92,429,430 2019 92,429,430 6,470,060 0
98,899,490 2020 98,899,490 6,922,964 0
105,822,454 2021 105,822,454 7,407,572 0
113,230,026 2022 113,230,026 7,926,102 0
121,156,128 2023 121,156,128 8,480,929 0
129,637,057 3
2024 129,637,057 9,074,594 0
138,711,651 2025 138,711,651 9,709,816 0
148,421,467 2026 148,421,467 10,389,503 0
158,810,969 2027 158,810,969 11,116,768 0
169,927,737 2028 169,927,737 11,894,942 0
181,822,679 2029 181,822,679 12,727,588 0
194,550,266