ML071020142
| ML071020142 | |
| Person / Time | |
|---|---|
| Site: | Oconee, Mcguire, Catawba, McGuire  |
| Issue date: | 04/02/2007 |
| From: | Jamil D Duke Energy Carolinas, Duke Power Co |
| To: | Document Control Desk, NRC/NRR/ADRO |
| References | |
| Download: ML071020142 (17) | |
Text
aL Duke HIAA M.
JAML DukeSenior VP, Nuclear Support W Energy Nuclear Generation 526 South Church St.
Charlotte, NC 28202 Mailing Address:
April 2, 2007 EC07H / PO Box 1006 Charlotte, NC 28201-1006 U. S. Nuclear Regulatory Commission 704 382 6191 Washington, DC 20555-0001 704 382 6056 fax Attention: Document Control Desk dmjarnil@duke-energy. com
Subject:
Duke Power Company LLC d/b/a Duke Energy Carolinas, LLC Oconee Nuclear Station, Units 1, 2, and 3 Docket Nos. 50-269, 50-270, 50-287 McGuire Nuclear Station, Units 1 and 2 Docket Nos. 50-369, 50-370 Catawba Nuclear Station, Units 1 and 2 Docket Nos. 50-413, 50-414 Decommissioning Financial Assurance Reports Enclosed are the required Decommissioning Financial Assurance reports pursuant to 10 CFR 50.75(f)(1) for Oconee, McGuire, and Catawba Nuclear Stations. The report contains the following information for each nuclear plant:
(1) Amount of decommissioning funds estimated to be required pursuant to 10 CFR 50.75 (b) and (c).
(2) Amount accumulated to the end of the calendar year preceding the date of the report.
(3) Schedule of annual amounts remaining to be collected.
(4) Assumptions used regarding rates of escalation in decommissioning costs, rates of earnings on decommissioning funds, and rates of other factors used in funding projections.
(5) Contracts upon which the licensee is relying pursuant to paragraph 10 CFR 50.75 (e)(1)(v).
(6) Modifications occurring to a licensee's current method of providing financial assurance since the last submitted report.
(7) Material changes to trust agreements.
The adjustment factors used in Item 1 for the calculation in 10 CFR 50.75 (c)(2) are determined using the December 2006 indices from the U.S. Department of Labor, Bureau of Labor Statistics for labor, energy, and fuel and NUREG-1307, Revision 12, for burial. If there are any questions concerning this information, please contact Carl Council at (704) 382-7387.
No regulatory commitments are included in this correspondence.
Very truly yours, Dhiaa M. Jamil Attachments 4(OOl www. duke-energy. com
U. S. Nuclear Regulatory Commission April 2, 2007 Page 2 xc:
(w/attachments)
W. D. Travers, Regional Administrator U. S. Nuclear Regulatory Commission Region II Sam Nunn Atlanta Federal Center 61 Forsyth St., SW, Suite 23T85 Atlanta, GA 30303-8931 Michael A. Dusaniwskyj U. S. Nuclear Regulatory Commission Mail Stop 012-D3 Washington, DC 20555-0001 L. N. Olshan (addressee only)
NRC Senior Project Manager (ONS)
U. S. Nuclear Regulatory Commission Mail Stop 0-8 H12 Washington, DC 20555-0001 J. F. Stang (addressee only)
NRC Senior Project Manager (MNS/CNS)
U. S. Nuclear Regulatory Commission Mail Stop 0-8 9A Washington, DC 20555-0001 D. W. Rich, NRC Senior Resident Inspector Oconee Nuclear Station J. B. Brady, NRC Senior Resident Inspector McGuire Nuclear Station A. T. Sabisch, NRC Senior Resident Inspector Catawba Nuclear Station
NRC Decommissioning Funding Status Report Report Date March 31, 2007 Duke Power Company Oconee Nuclear Station 100% Ownership Unit #1 Oconee Unit 1
- 1. The minimum decommissioning fund estimate, pursuant to 10 CFR 50.75 (b) and (c).
- 2. The amount accumulated at the end of the calendar year preceding the date of the report for items included in 10 CFR 50.75 (b) and (c). (Alternatively, the total amount accumulated at the end of the calendar year preceding the date of the report can be reported here if the cover letter transmitting the report provides the total estimate and indicates what portion of that estimate is for items not included in 10 CFR 50.75 (b) and (c)).
- 3. A schedule of the annual amounts remaining to be collected; for items in 10 CFR 50.75 (b) and (c). (Alternatively, the annual amounts remaining to be collected can include items beyond those required in 10 CFR 50.75 (b) and (c) if the cover letter transmitting the report provides a total cost estimate and indicates what portion of that estimate is for items that are not included in 10 CFR 50.75 (b) and (c).
Annual amounts are based on the likelihood that units will be shut down five years prior to the license expiration date.
338,051,578 Qualified Non Qualified 121,977,653 113,988,985 Year 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Qualified 3,214,857 3,214,857 3,214,857 3,214,857 3,214,857 3,214,857 3,214,857 3,214,857 3,214,857 3,214,857 3,214,857 3,214,857 3,214,857 3,214,857 3,214,857 3,214,857 3,214,857 3,214,857 3,214,857 3,214,857 3,214,857 3,214,857 Non Qualified 3,405,374 3,405,374 3,405,374 3,405,374 3,405,374 3,405,374 3,405,374 3,405,374 3,405,374 3,405,374 3,405,374 3,405,374 3,405,374 3,405,374 3,405,374 3,405,374 3,405,374 3,405,374 3,405,374 3,405,374 3,405,374 3,405,374 70,726,851 74,918,228
- 4. The assumptions used regarding escalation in decommissioning cost, rates of earnings on decommissioning funds, and rates of other factors used in funding projections;
- 5. Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v).
- 6. Any modifications to a licensee's current method providing financial assurance occurring since the last submitted report.
inflation - 4%
qualified rate of return - 5%
non-qualified rate of return - 4.5%
N/A N/A
- 7. Any material changes to trust agreements.
The asset allocation policies of the Trusts were changed to reflect a combined asset allocation between the trusts. Prior to this change each trust had its own asset allocation policy. The change is as follows:
Prior to the policy change:
Asset Class Qualified Trust Tarqet Allocation US Equity 45%
Non-US Equity 20%
Fixed Income 34%
Cash 1%
Non-Qualified Trust Target Allocation 45%
20%
30%
5%
Following the policy change:
Asset Class Combined Qualified and Non-Qualified Trusts Tarqet Allocation US Equity 45%
Non-US Equity 20%
Fixed Income 33%
Cash 2%
An amendment to the investment management agreement with Blackrock Financial Management was executed April 27, 2006, to be effective June 1, 2006, which changed the manager guidelines from a Treasury targeted portfolio to a broader Lehman Brothers Aggregate Index portfolio.
NRC Decommissioning Funding Status Report Report Date March 31, 2007 Duke Power Company Oconee Nuclear Station 100% Ownership Unit #2 Oconee Unit 2
- 1. The minimum decommissioning fund estimate, pursuant to 10 CFR 50.75 (b) and (c).
- 2. The amount accumulated at the end of the calendar year preceding the date of the report for items included in 10 CFR 50.75 (b) and (c). (Alternatively, the total amount accumulated at the end of the calendar year preceding the date of the report can be reported here if the cover letter transmitting the report provides the total estimate and indicates what portion of that estimate is for items not included in 10 CFR 50.75 (b) and (c)).
- 3. A schedule of the annual amounts remaining to be collected; for items in 10 CFR 50.75 (b) and (c). (Alternatively, the annual amounts remaining to be collected can include items beyond those required in 10 CFR 50.75 (b) and (c) if the cover letter transmitting the report provides a total cost estimate and indicates what portion of that estimate is for items that are not included in 10 CFR 50.75 (b) and (c).
- Annual amounts are based on the likelihood that units will be shut down five years prior to the license expiration date.
338,051,578 Qualified Non Qualified 131,284,100 116,954,088 Year 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Qualified 3,619,840 3,619,840 3,619,840 3,619,840 3,619,840 3,619,840 3,619,840 3,619,840 3,619,840 3,619,840 3,619,840 3,619,840 3,619,840 3,619,840 3,619,840 3,619,840 3,619,840 3,619,840 3,619,840 3,619,840 3,619,840 3,619,840 Non Qualified 2,372,676 2,372,676 2,372,676 2,372,676 2,372,676 2,372,676 2,372,676 2,372,676 2,372,676 2,372,676 2,372,676 2,372,676 2,372,676 2,372,676 2,372,676 2,372,676 2,372,676 2,372,676 2,372,676 2,372,676 2,372,676 2,372,676 79,636,481 52,198,879
- 4. The assumptions used regarding escalation in decommissioning cost, rates of earnings on decommissioning funds, and rates of other factors used infunding projections;
- 5. Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v).
- 6. Any modifications to a licensee's current method providing financial assurance occurring since the last submitted report.
- 7. Any material changes to trust agreements.
inflation - 4%
qualified rate of return - 5%
non-qualified rate of return - 4.5%
N/A N/A The asset allocation policies of the Trusts were changed to reflect a combined asset allocation between the trusts. Prior to this change each trust had its own asset allocation policy. The change is as follows:
Prior to the policy change:
Asset Class Qualified Trust Target Allocation Non-Qualified Trust Target Allocation US Equity 45%
45%
Non-US Equity 20%
20%
Fixed Income 34%
30%
Cash 1%
5%
Following the policy change:
Asset Class Combined Qualified and Non-Qualified Trusts Target Allocation US Equity 45%
Non-US Equity 20%
Fixed Income 33%
Cash 2%
An amendment to the investment management agreement with Blackrock Financial Management was executed April 27, 2006, to be effective June 1, 2006, which changed the manager guidelines from a Treasury targeted portfolio to a broader Lehman Brothers Aggregate Index portfolio.
NRC Decommissioning Funding Status Report Report Date March 31, 2007 Duke Power Company Oconee Nuclear Station 100% Ownership Unit #3 Oconee Unit 3
- 1. The minimum decommissioning fund estimate, pursuant to 10 CFR 50.75 (b) and (c).
- 2. The amount accumulated at the end of the calendar year preceding the date of the report for items included in 10 CFR 50.75 (b) and (c). (Alternatively, the total amount accumulated at the end of the calendar year preceding the date of the report can be reported here if the cover letter transmitting the report provides the total estimate and indicates what portion of that estimate is for items not included in 10 CFR 50.75 (b) and (c)).
- 3. A schedule of the annual amounts remaining to be collected; for items in 10 CFR 50.75 (b) and (c). (Alternatively, the annual amounts remaining to be collected can include items beyond those required in 10 CFR 50.75 (b) and (c) if the cover letter transmitting the report provides a total cost estimate and indicates what portion of that estimate is for items that are not included in 10 CFR 50.75 (b) and (c).
Annual amounts are based on the likelihood that units will be shut down five years prior to the license expiration date.
338,051,578 Qualified Non Qualified 173,622,047 $
119,786,511 Year 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Qualified 5,096,412 5,096,412 5,096,412 5,096,412 5,096,412 5,096,412 5,096,412 5,096,412 5,096,412 5,096,412 5,096,412 5,096,412 5,096,412 5,096,412 5,096,412 5,096,412 5,096,412 5,096,412 5,096,412 5,096,412 5,096,412 5,096,412 5,096,412 Non Qualified 3,865,261 3,865,261 3,865,261 3,865,261 3,865,261 3,865,261 3,865,261 3,865,261 3,865,261 3,865,261 3,865,261 3,865,261 3,865,261 3,865,261 3,865,261 3,865,261 3,865,261 3,865,261 3,865,261 3,865,261 3,865,261 3,865,261 3,865,261 117,217,470 $
88,901,009
- 4. The assumptions used regarding escalation in decommissioning cost, rates of earnings on decommissioning funds, and rates of other factors used in funding projections;
- 5. Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v).
- 6. Any modifications to a licensee's current method providing financial assurance occurring since the last submitted report.
inflation - 4%
qualified rate of return - 5%
non-qualified rate of return - 4.5%
N/A N/A
- 7. Any material changes to trust agreements.
The asset allocation policies of the Trusts were changed to reflect a combined asset allocation between the trusts. Prior to this change each trust had its own asset allocation policy. The change is as follows:
Prior to the policy change:
Asset Class Qualified Trust Target Allocation Non-Qualified Trust Target Allocation US Equity 45%
45%
Non-US Equity 20%
20%
Fixed Income 34%
30%
Cash 1%
5%
Following the policy change:
Asset Class Combined Qualified and Non-Qualified Trusts Target Allocation US Equity 45%
Non-US Equity 20%
Fixed Income 33%
Cash 2%
An amendment to the investment management agreement with Blackrock Financial Management was executed April 27, 2006, to be effective June 1, 2006, which changed the manager guidelines from a Treasury targeted portfolio to a broader Lehman Brothers Aggregate Index portfolio.
NRC Decommissioning Funding Status Report Report Date March 31, 2007 Duke Power Company McGuire Nuclear Station 100% Ownership Unit #1 McGuire Unit 1
- 1. The minimum decommissioning fund estimate, pursuant to 10 CFR 50.75 (b) and (c).
- 2. The amount accumulated at the end of the calendar year preceding the date of the report for items included in 10 CFR 50.75 (b) and (c). (Alternatively, the total amount accumulated at the end of the calendar year preceding the date of the report can be reported here if the cover letter transmitting the report provides the total estimate and indicates what portion of that estimate is for items not included in 10 CFR 50.75 (b) and (c)).
- 3. A schedule of the annual amounts remaining to be collected; for items in 10 CFR 50.75 (b) and (c). (Alternatively, the annual amounts remaining to be collected can include items beyond these required in 10 CFR 50.75 (b) and (c) if the cover letter transmitting the report provides a total cost estimate and indicates what portion of that estimate is for items that are not included in 10 CFR 50.75 (b) and (c).
Annual amounts are based on the likelihood that units will be shut down five years prior to the license expiration date.
365,605,800 Qualified Non Qualified 184,340,685 62,063,925 Year 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 $
Qualified 7,919,345 7,919,345 7,919,345 7,919,345 7,919,345 7,919,345 7,919,345 7,919,345 7,919,345 7,919,345 7,919,345 7,919.345 7,919,345 7,919,345 7,919,345 7,919,345 7,919,345 7,919,345 7,919,345 7,919,345 7,919,345 7,919,345 7,919,345 7,919,345 7,919,345 7,919,345 7,919,345 7,919,345 7,919,345 7,919,345 Non Qualified 1,207,246 1,207,246 1.207,246 1,207,246 1,207,246 1,207,246 1,207,246 1,207,246 1,207,246 1,207,246 1,207,246 1,207,246 1.207.246 1,207,246 1,207,246 1,207,246 1,207,246 1,207,246 1.207,246 1,207.246 1,207,246 1,207,246 1,207,246 1,207,246 1,207,246 1,207,246 1,207,246 1,207,246 1,207,246 1,207,246 237,580,356 36,217,387
- 4. The assumptions used regarding escalation in decommissioning cost, rates of earnings on decommissioning funds, and rates of other factors used in funding projections;
- 5. Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v).
- 6. Any modifications to a licensee's current method providing financial assurance occurring since the last submitted report.
- 7. Any material changes to trust agreements.
inflation - 4%
qualified rate of return - 5%
non-qualified rate of return - 4.5%
N/A N/A The asset allocation policies of the Trusts were changed to reflect a combined asset allocation between the trusts. Prior to this change each trust had its own asset allocation policy. The change is as follows:
Prior to the policy change:
Asset Class Qualified Trust Target Allocation Non-Qualified Trust Target Allocation US Equity 45%
45%
Non-US Equity 20%
20%
Fixed Income 34%
30%
Cash 1%
5%
Following the policy change:
Asset Class Combined Qualified US Equity Non-US Equity Fixed Income Cash and Non-Qualified Trusts Target Allocation 45%
20%
33%
2%
An amendment to the investment management agreement with Blackrock Financial Management was executed April 27, 2006, to be effective June 1, 2006, which changed the manager guidelines from a Treasury targeted portfolio to a broader Lehman Brothers Aggregate Index portfolio.
NRC Decommissioning Funding Status Report Report Date March 31, 2007 Duke Power Company McGuire Nuclear Station 100% Ownership Unit #2 McGuire Unit 2 365,605,800
- 1. The minimum decommissioning fund estimate, pursuant to 10 CFR 50.75 (b) and (c).
- 2. The amount accumulated at the end of the calendar year preceding the date of the report for items included in 10 CFR 50.75 (b) and (c). (Alternatively, the total amount accumulated at the end of the calendar year preceding the date of the report can be reported here if the cover letter transmitting the report provides the total estimate and indicates what portion of that estimate is for items not included in 10 CFR 50.75 (b) and (c)).
- 3. A schedule of the annual amounts remaining to be collected; for items in 10 CFR 50.75 (b) and (c). (Alternatively, the annual amounts remaining to be collected can include items beyond those required in 10 CFR 50.75 (b) and (c) if the cover letter transmitting the report provides a total cost estimate and indicates what portion of that estimate is for items that are not included in 10 CFR 50.75 (b) and (c).
Annual amounts are based on the likelihood that units will be shut down five years prior to the license expiration date.
Qualified Non Qualified 212,719.092 34,072,808 Year 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 $
2038 $
Qualified 11,617,078 11,617,078 11,617,078 11,617,078 11,617,078 11,617,078 11,617,078 11,617,078 11,617,078 11,617,078 11,617.078 11,617,078 11,617,078 11,617,078 11.617,078 11,617,078 11,617,078 11,617,078 11,617,078 11,617,078 11,617,078 11,617,078 11,617,078 11,617,078 11,617,078 11,617,078 11,617,078 11,617,078 11,617,078 11,617,078 11,617,078 11,617,078 Non Qualified 196,161 196,161 196,161 196,161 196,161 196,161 196.161 196.161 196,161 196,161 196,161 196.161 196,161 196,161 196,161 196,161 196,161 196,161 196.161 196,161 196,161 196,161 196,161 196,161 196,161 196,161 196,161 196,161 196,161 196,161 196,161 196,161
- 4. The assumptions used regarding escalation in decommissioning cost, rates of earnings on decommissioning funds, and rates of other factors used in funding projections;
- 5. Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(eX1Xv).
- 6. Any modifications to a licensee's current method providing financial assurance occurring since the last submitted report.
- 7. Any material changes to trust agreements.
371,746,501 6,277,145 inflation - 4%
qualified rate of return - 5%
non-qualified rate of return - 4.5%
N/A N/A The asset allocation policies of the Trusts were changed to reflect a combined asset allocation between the trusts. Prior to this change each trust had its own asset allocation policy. The change is as follows:
Prior to the policy change:
Asset Class Qualified Trust Target Allocation Non-Qualified Trust Target Allocation US Equity 45%
45%
Non-US Equity 20%
20%
Fixed Income 34%
30%
Cash 1%
5%
Following the policy change:
Asset Class Combined Qualified and Non-Qualified Trusts Target Allocation US Equity 45%
Non-US Equity 20%
Fixed Income 33%
Cash 2%
An amendment to the investment management agreement with Blackrock Financial Management was executed April 27, 2006, to be effective June 1, 2006, which changed the manager guidelines from a Treasury targeted portfolio to a broader Lehman Brothers Aggregate Index portfolio.
NRC Decommissioning Funding Status Report Report Date March 31, 2007 Duke Power Company Catawba Nuclear Station 12.5% Ownership Unit #1 Catawba Unit I
- 1. The minimum decommissioning fund estimate, pursuant to 10 CFR 50.75 (b) and (c).
- 2. The amount accumulated at the end of the calendar year preceding the date of the report for items included in 10 CFR 50.75 (b) and (c). (Alternatively, the total amount accumulated at the end of the calendar year preceding the date of the report can be reported here if the cover letter transmitting the report provides the total estimate and indicates what portion of that estimate is for items not included in 10 CFR 50.75 (b) and (c)).
- 3. A schedule of the annual amounts remaining to be collected; for items in 10 CFR 50.75 (b) and (c). (Altematively, the annual amounts remaining to be collected can include items beyond those required in 10 CFR 50.75 (b) and (c) if the cover letter transmitting the report provides a total cost estimate and indicates what portion of that estimate is for items that are not included in 10 CFR 50.75 (b) and (c).
Annual amounts are based on the likelihood that units will be shut down five years prior to the license expiration date.
45,461,063 Qualified Non Qualified 27,629,662 997,557 Year 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 $
2038 $
Qualified 1,065.353 1,065,353 1,065,353 1,065,353 1,065,353 1,065,353 1,065,353 1,065,353 1,065,353 1,065.353 1,065,353 1,065,353 1,065,353 1,065,353 1,065,353 1,065,353 1,065,353 1,065,353 1,065,353 1,065,353 1,065,353 1,065.353 1,065,353 1,065,353 1,065,353 1,065,353 1,065,353 1,065,353 1,065.353 1,065.353 1,065,353 1,065,353 Non Qualified 59,080 59,080 59,080 59,080 59,080 59,080 59,080 59,080 59.080 59,080 59,080 59,080 59,080 5g,080 59,080 59,080 59,080 59,080 59,080 59,080 59,080 59,080 59,080 59,080 59,080 59,080 59,080 59,080 59,080 59,080 59,080 59,080
- 4. The assumptions used regarding escalation in decommissioning cost, rates of earnings on decommissioning funds, and rates of other factors used in funding projections;
- 5. Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(eXl Xv).
- 6. Any modifications to a licensee's current method providing financial assurance occurring since the last submitted report.
- 7. Any matedal changes to trust agreements.
34,091,294 1,890,573 inflation - 4%
qualified rate of return - 5%
non-qualified rate of return - 4.5%
N/A N/A The asset allocation policies of the Trusts were changed to reflect a combined asset allocation between the trusts. Prior to this change each trust had its own asset allocation policy. The change is as follows:
Prior to the policy change:
Asset Class Qualified Trust Target Allocation Non-Qualified Trust Target Allocation US Equity 45%
45%
Non-US Equity 20%
20%
Fixed Income 34%
30%
Cash 1%
5%
Following the policy change:
Asset Class Combined Qualified and Non-Qualified Trusts Target Allocation US Equity 45%
Non-US Equity 20%
Fixed Income 33%
Cash 2%
An amendment to the investment management agreement with Blackrock Financial Management was executed Apri 27, 2006, to be effective June 1, 2006, which changed the manager guidelines from a Treasury targeted portfolio to a broader Lehman Brothers Aggregate Index portfolio.
NRC Decommissioning Funding Status Report Report Date March 31, 2007 Duke Power Company Catawba Nuctear Station 12.5% Ownership Unit #2 Catawba Unit 2
- 1. The minimum decommissioning fund estimate, pursuant to 10 CFR 50.75 (b) and (c).
45,461,063
- 2. The amount accumulated at the end of the catendar year preceding the date of the report for items inctuded in 10 CFR 50.75 (b) and (c). (Atternatively, the total amount accumulated at the end of the calendar year preceding the date of the report can be reported here if the cover letter transmitting the report provides the total estimate and indicates what portion of that estimate is for items not included in 10 CFR 50.75 (b) and (c)).
- 3. A schedule of the annual amounts remaining to be collected; for items in 10 CFR 50.75 (b) and (c). (Altemnatively, the annual amounts remaining to be collected can include items beyond these required in 10 CFR 50.75 (b) and (c) if the cover letter transmitting the report provides a total cost estimate and indicates what portion of that estimate is for items that are not included in 10 CFR 50.75 (b) and (c).
Annual amounts are based on the likelihood that units wilt be shut down five years prior to the license expiration date.
Qualified Non Qualified 29,369,655 721,768 Year 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 $
2038 $
Qualified 1,453,517 1,453,517 1,453,517 1.453.517 1,453,517 1,453,517 1,453,517 1,453,517 1,453,517 1,453,517 1,453,517 1,453,517 1,453,517 1,453,517 1,453,517 1,453,517 1,453.517 1.453.517 1,453,517 1,453,517 1,453,517 1,453,517 1,453,517 1,453,517 1,453.517 1,453,517 1,453,517 1,453,517 1,453,517 1,453,517 1,453,517 1,453,517 Non Qualified
- 4. The assumptions used regarding escalation in decommissioning cost, rates of eamnings on decommissioning funds, and rates of other factors used in funding projections;
- 5. Any contracts upon which the licenses is relying pursuant to 10 CFR 50.75(eXlXv).
- 6. Any modifications to a licensee's current method providing financial assurance occurring since the last submitted report.
- 7. Any material changes to trust agreements.
46,512,538 inflation -4%
qualified rate of retumn
- 5%
non-qualified rate of return - 4.5%
N/A N/A The asset allocation policies of the Trusts were changed to reflect a combined asset allocation between the trusts. Prior to this change each trust had its own asset allocation policy. The change is as follows:
Prior to the policy change:
Asset Class Qualified Trust Target Allocation Non-Qualified Trust Target Allocation US Equity 45%
45%
Non-US Equity 20%
20%
Fixed Income 34%
30%
Cash 1%
5%
Following the policy change:
Asset Class Combined Qualified and Non-Qualified Trusts Target Allocation US Equity 45%
Non-US Equity 20%
Fixed Income 33%
Cash 2%
An amendment to the investment management agreement with Blackrock Financial Management was executed April 27, 2006, to be effective June 1, 2006, which changed the manager guidelines from a Treasury targeted portfolio to a broader Lehman Brothers Aggregate Index portfolio.
NRC Decommissioning Funding Status Report Report Date March 31, 2007 Saluda River Electric Cooperative Catawba Nuclear Station 9.375% Ownership Unit #1
- 1. The minimum decommissioning fund estimate, pursuant to 10 CFR 50.75 (b) and (c).
34,095,797
- 2. The amount accumulated at the end of the calendar year preceding the date of the report for items included in 10 CFR 50.75 (b) and (c). (Alternatively, the total amount accumulated at the end of the calendar year preceding the date of the report can be reported here if the cover letter transmitting the report provides the total estimate and indicates what portion of that estimate is for items not included in 10 CFR 50.75 (b) and (c)).
- 3. A schedule of the annual amounts remaining to be collected; for items in 10 CFR 50.75 (b) and (c). (Alternatively, the annual amounts remaining to be collected can include items beyond those required in 10 CFR 50.75 (b) and (c) if the cover letter transmitting the report provides a total cost estimate and indicates what portion of that estimate is for items that are not included in 10 CFR 50.75 (b) and (c).
Year 29,113,927 Amount All future years
$0.00
- 4. The assumptions used regarding escalation in decommissioning cost, rates of earnings on decommissioning funds, and rates of other factors used in funding projections;
- 5. Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v).
- 6. Any modifications to a licensee's current method providing financial assurance occurring since the last submitted report.
inflation - 4.5%
rate of return - 6.5%
- 7. Any material changes to trust agreements.
None
NRC Decommissioning Funding Status Report Report Date March 31, 2007 Saluda River Electric Cooperative Catawba Nuclear Station 9.375% Ownership Unit #2
- 1. The minimum decommissioning fund estimate, pursuant to 10 CFR 50.75 (b) and (c).
34,095,797
- 2. The amount accumulated at the end of the calendar year preceding the date of the report for items included in 10 CFR 50.75 (b) and (c). (Alternatively, the total amount accumulated at the end of the calendar year preceding the date of the report can be reported here if the cover letter transmitting the report provides the total estimate and indicates what portion of that estimate is for items not included in 10 CFR 50.75 (b) and (c)).
- 3. A schedule of the annual amounts remaining to be collected; for items in 10 CFR 50.75 (b) and (c). (Alternatively, the annual amounts remaining to be collected can include items beyond those required in 10 CFR 50.75 (b) and (c) if the cover letter transmitting the report provides a total cost estimate and indicates what portion of that estimate is for items that are not included in 10 CFR 50.75 (b) and (c).
Year 28,682,334 Amount All future years
$0.00
- 4. The assumptions used regarding escalation in decommissioning cost, rates of earnings on decommissioning funds, and rates of other factors used in funding projections;
- 5. Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v).
- 6. Any modifications to a licensee's current method providing financial assurance occurring since the last submitted report.
inflation - 4.5%
rate of return - 6.5%
None None None
- 7. Any material changes to trust agreements.
NRC Decommissioning Funding Status Report Report Dated March 31, 2007 North Carolina Municipal Electric Membership Corporation Catawba Nuclear Station 28.125% Ownership Unit #1
- 1. The minimum decommissioning fund estimate, pursuant to 10 CFR 50.75 (b) and (c).
- 2. The amount accumulated at the end of the calendar year preceding the date of the report for items included in 10 CFR 50.75 (b) and (c). (Alternatively, the total amount accumulated at the end of the calendar year preceding the date of the report can be reported here if the cover letter transmitting the report provides the total estimate and indicates what portion of that estimate is for items not included in 10 CFR 50.75 (b) and (c)).
- 3. A schedule of the annual amounts remaining to be collected; for items in 10 CFR 50.75 (b) and (c). (Alternatively, the annual amounts remaining to be collected can include items beyond those required in 10 CFR 50.75 (b) and (c) if the cover letter transmitting the report provides a total cost estimate and indicates what portion of that estimate is for items that are not included in 10 CFR 50.75 (b) and (c).)
YE
- 4. The assumptions used regarding escalation in decommissioning cost, rates of earnings on decommissioning funds, and rates of other factors used in funding projections;
- 5. Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v).
- 6. Any modifications to a licensee's current method providing financial assurance occurring since the last submitted report.
102,287,391 44,655,255 ear 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 2038 2039 2040 2041 2042 2043 Amount 299,956 253,006 204,693 154,951 103,709 50,893 inflation -
- te of return -
2.46 %
4.85 %
Not Applicable None None
- 7. Any material changes to trust agreements.
NRC Decommissioning Funding Status Report Report Dated March 31, 2007 North Carolina Municipal Electric Membership Corporation Catawba Nuclear Station 28.125% Ownership Unit #2
- 1. The minimum decommissioning fund estimate, pursuant to 10 CFR 50.75 (b) and (c).
102,287,391
- 2. The amount accumulated at the end of the calendar year preceding the date of the report for items included in 10 CFR 50.75 (b) and (c). (Aitematively, the total amount accumulated at the end of the calendar year preceding the date of the report can be reported here if the cover letter transmitting the report provides the total estimate and indicates what portion of that estimate is for items not included in 10 CFR 50.75 (b) and (c)).
- 3. A schedule of the annual amounts remaining to be collected; for items in 10 CFR 50.75 (b) and (c). (Alternatively, the annual amounts remaining to be collected can include items beyond those required in 10 CFR 50.75 (b) and (c) if the cover letter transmitting the report provides a total cost estimate and indicates what portion of that estimate is for items that are not included in 10 CFR 50.75 (b) and (c).)
44,655,255 Year 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 2038 2039 2040 2041 2042 2043 Amount 299,956 253,006 204,693 154,951 103,709 50,893 2.46 %
4.85 %
Not Applicable None
- 4. The assumptions used regarding escalation in decommissioning inflation -
cost, rates of earnings on decommissioning funds, and rates of rate of return -
other factors used in funding projections;
- 5. Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v).
- 6. Any modifications to a licensee's current method providing financial assurance occurring since the last submitted report.
- 7. Any material changes to trust agreements.
None
NRC Decommissioning Funding Status Report Report Date March 31, 2007 North Carolina Municipal Power Agency 1 Catawba Nuclear Station 37.5% Ownership Unit #1
- 1. The minimum decommissioning fund estimate, pursuant to 10 CFR 50.75 (b) and (c).
- 2. The amount accumulated at the end of the calendar year preceding the date of the report for items included in 10 CFR 50.75 (b) and (c). (Alternatively, the total amount accumulated at the end of the calendar year preceding the date of the report can be reported here if the cover letter transmitting the report provides the total estimate and indicates what portion of that estimate is for items not included in 10 CFR 50.75 (b) and (c)).
- 3. A schedule of the annual amounts remaining to be collected; for items in 10 CFR 50.75 (b) and (c). (Alternatively, the annual amounts remaining to be collected can include items beyond those required in 10 CFR 50.75 (b) and (c) if the cover letter transmitting the report provides a total cost estimate and indicates what portion of that estimate is for items that are not included in 10 CFR 50.75 (b) and (c).
Year 136,383,188
- 2032 is the last year of the current Participant Project Power Sales Agreement.
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*
Amount Remaining
- of years to collect 94,611,194 Amount 437,500 437,500 437,500 437,500 437,500 437,500 437,500 437,500 437,500 437,500 437,500 437,500 437,500 437,500 437,500 437,500 437,500 437,500 437,500 437,500 437,500 437,500 437,500 437,500 437,500 437,500 11,375,000 26 escalation - 4.0%
rate of return - 6.00
- 4. The assumptions used regarding escalation in decommissioning cost, rates of earnings on decommissioning funds, and rates of other factors used in funding projections;
- 5. Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v).
None
- 6. Any modifications to a licensee's current method providing financial assurance occurring since the last submitted report.
None
- 7. Any material changes to trust agreements.
None
NRC Decommissioning Funding Status Report Report Date March 31, 2007 North Carolina Municipal Power Agency 1 Catawba Nuclear Station 37.5% Ownership Unit #2
- 1. The minimum decommissioning fund estimate, pursuant to 10 CFR 50.75 (b) and (c).
136,383,188
- 2. The amount accumulated at the end of the calendar year preceding the date of the report for items included in 10 CFR 50.75 (b) and (c). (Alternatively, the total amount accumulated at the end of the calendar year preceding the date of the report can be reported here if the cover letter transmitting the report provides the total estimate and indicates what portion of that estimate is for items not included in 10 CFR 50.75 (b) and (c)).
90,737,785
- 3. A schedule of the annual amounts remaining to be collected; for items in 10 CFR 50.75 (b) and (c). (Alternatively, the annual amounts remaining to be collected can include items beyond those required in 10 CFR 50.75 (b) and (c) if the cover letter transmitting the report provides a total cost estimate and indicates what portion of that estimate is for items that are not included in 10 CFR 50.75 (b) and (c).
Year Amount
- 2032 is the last year of the current Participant 2007 437,500 Project Power Sales Agreement.
2008 437,500 2009 437,500 2010 437,500 2011 437,500 2012 437,500 2013 437,500 2014 437,500 2015 437,500 2016 437,500 2017 437,500 2018 437,500 2019 437,500 2020 437,500 2021 437,500 2022 437,500 2023 437,500 2024 437,500 2025 437,500 2026 437,500 2027 437,500 2028 437,500 2029 437,500 2030 437,500 2031 437,500 2032*
437,500 Amount Remaining 11,375,000
- of years to collect 26
- 4. The assumptions used regarding escalation in decommissioning escalation - 4.0%
cost, rates of earnings on decommissioning funds, and rates of rate of return - 6.09' other factors used in funding projections;
- 5. Any contracts upon which the licensee is relng pursuant to 10 CFR 50.75(e)(1)(v).
None
- 6. Any modifications to a licensee's current method providing financial assurance occurring since the last submitted report.
None
- 7. Any material changes to trust agreements.
None
NRC Decommissioning Funding Status Report Report Date March 31, 2007 Piedmont Municipal Power Agency Catawba Nuclear Station 12.5% Ownership Unit #1
- 1. The minimum decommissioning fund estimate, pursuant to 10 CFR 50.75 (b) and (c).
45,461,063
- 2. The amount accumulated at the end of the calendar year preceding the date of the report for items included in 10 CFR 50.75 (b) and (c). (Alternatively, the total amount accumulated at the end of the, calendar year preceding the date of the report can be reported here if the cover letter transmitting the report provides the total estimate and indicates what portion of that estimate is for items not included in 10 CFR 50.75 (b) and (c)).
- 3. A schedule of the annual amounts remaining to be collected; for items in 10 CFR 50.75 (b) and (c). (Alternatively, the annual amounts remaining to be collected can include items beyond those required in 10 CFR 50.75 (b) and (c) if the cover letter transmitting the report provides a total cost estimate and indicates what portion of that estimate is for items that are not included in 10 CFR 50.75 (b) and (c).
Year All future years
- 4. The assumptions used regarding escalation in decommissioning cost, rates of earnings on decommissioning funds, and rates of other factors used in funding projections; 26,614,466 Amount
$0.00 inflation - 4.0%
rate of return - 5.5%
- 5. Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v).
- 6. Any modifications to a licensee's current method providing financial assurance occurring since the last submitted report.
N/A N/A N/A
- 7. Any material changes to trust agreements.
NRC Decommissioning Funding Status Report Report Date March 31, 2007 Piedmont Municipal Power Agency Catawba Nuclear Station 12.5% Ownership Unit #2
- 1. The minimum decommissioning fund estimate, pursuant to 10 CFR 50.75 (b) and (c).
45,461,063
- 2. The amount accumulated at the end of the calendar year preceding the date of the report for items included in 10 CFR 50.75 (b) and (c). (Alternatively, the total amount accumulated at the end of the calendar year preceding the date of the report can be reported here if the cover letter transmitting the report provides the total estimate and indicates what portion of that estimate is for items not included in 10 CFR 50.75 (b) and (c)).
- 3. A schedule of the annual amounts remaining to be collected; for items in 10 CFR 50.75 (b) and (c). (Alternatively, the annual amounts remaining to be collected can include items beyond those required in 10 CFR 50.75 (b) and (c) if the cover letter transmitting the report provides a total cost estimate and indicates what portion of that estimate is for items that are not included in 10 CFR 50.75 (b) and (c).
Year 27,249,477 Amount All future years
$0.00
- 4. The assumptions used regarding escalation in decommissioning cost, rates of earnings on decommissioning funds, and rates of other factors used in funding projections;
- 5. Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v).
- 6. Any modifications to a licensee's current method providing financial assurance occurring since the last submitted report.
inflation - 4.0%
rate of return - 5.5%
N/A N/A N/A
- 7. Any material changes to trust agreements.