ML080940652

Annual Report of Guarantee of Payment of Deferred Premium

ML080940652
Person / Time
Site:	Palo Verde, San Onofre
Issue date:	04/02/2008
From:	Ridenoure R Southern California Edison Co
To:	Document Control Desk, Office of Nuclear Reactor Regulation
References
Download: ML080940652 (3)

Text

SOUTHERN CALIFORNIA Ross T. Ridenoure VP and Site Manager EDISON" San Onofre Nuclear Generating Station An EDISON INTERNATIONAL@ Company April 2, 2008

' U. S. Nuclear Regulatory Commission Attention: Document Control Desk Washington, D. C. 20555

Subject:

Docket Nos. 50-361, 50-362, 50-528, 50-529, and 50-530 Annual Report of Guarantee of Payment of Deferred Premium San Onofre Nuclear Generating Station Units 2 and 3 Palo Verde Nuclear Generating Station Units 1, 2, and 3 Gentlemen:

10 CFR 140.21 requires Southern California Edison (SCE), as agent for the owners of the San Onofre Nuclear Generating Station Units 2 and 3 and SCE's 15.8% ownership share of Palo Verde Units 1, 2, and 3, to provide evidence that it maintains a guarantee of payment of deferred premium in an amount of $15 million for each reactor SCE is licensed to operate. In &cordance with option (e) of 10 CFR 140.21 and with 10 CFR 50.71(b), SCE has provided its quarterly Form 10-Q report to the Securities and Exchange Commission in lieu of an annual certified financial statement.

SCE is providing the enclosed 2007 Internal Cash Flow statement which is from'the consolidated financial statements included in SCE's 2007 annual report.

Thereare no commitments contained in this letter or its enclosure.

If you have any questions or require further information about this matter, please contact Ms. Linda Conklin at 949-368-9443.

Sincerely, Mail Drop D45 P.O. Box 128 San Clemente, CA 92672 949-368-6255PAX 86255 F a : 949-368-6183 Ross.Ridenoure@sce.com

Document Control Desk April 2, 2008 Enclosure cc: E. E. Collins, Regional Administrator, NRC Region IV N. Kalyanam, NRC Project Manager, San Onofre Units 2 and 3 C. C. Osterholtz, NRC Senior Resident Inspector, San Onofre Units 2 and 3

SOUTHERN CALIFORNIA EDISON COMPANY 2007 Internal Cash Flow (Dollars in Millions) 2007 Actual Net Income $758 Dividends Paid ($186)

Net Income -- Net of Dividends Paid $572 Adjustments:

Depreciation & Decommissioning $1,094 Net Deferred Taxes & ITC ($111)

Allowance for Funds Used During Construction ($70)

Total Adjustments $913 Internal Cash Flow $1,485 Average Quarterly Cash Flow $371 Percentage Ownership in All Nuclear Units:

San Onofre Nuclear Generating Station Units 2 & 3 o Southern California Edison Company 78.21%

o San Diego Gas & Electric Company 20.00%

o City of Anaheim 0.00%

o City of Riverside 1.79%

Palo Verde Nuclear Generating Station Units 1, 2 & 3 15.80%

Maximum Total Contingent Liability:

(1)

San Onofre Nuclear Generating Station Unit 2 $15.00 (1)

San Onofre Nuclear Generating Station Unit 3 $15.00 (2)

Palo Verde Nuclear Generating Station Unit 1 $2.37 (2)

Palo Verde Nuclear Generating Station Unit 2 $2.37 (2)

Palo Verde Nuclear Generating Station Unit 3 $2.37 Total $37.11 (1)

The value represents 100% of the SONGS Annual Per Incident Contingent Liability (2)

The value represents 15.8% (SCE's Share) of the Palo Verde Annual Per Incident Contingent Liability