ML082270206
| ML082270206 | |
| Person / Time | |
|---|---|
| Site: | Nine Mile Point  |
| Issue date: | 08/06/2008 |
| From: | Syrell T Constellation Energy Group |
| To: | Document Control Desk, Office of Nuclear Reactor Regulation |
| References | |
| Download: ML082270206 (9) | |
Text
Constellation Energy P.O. Box 63 Lycoming, NY 13093 Nine Mile Point Nuclear Station August 6, 2008 U.S. Nuclear Regulatory Commission Washington, D.C. 20555-0001 ATTENTION:
Document Control Desk
SUBJECT:
Nine Mile Point Nuclear Station Unit Nos. 1 and 2; Docket Nos. 50-220 and 50-4 10 Guarantee of Payment of Retrospective Premiums Pursuant to the Commission's requirements stated in 10 CFR 140.2 1(e), enclosed are:
- 1.
A copy of the consolidated statements of income of Constellation Energy Group (CEG) as of March 31, 2008.
- 2.
A copy of the projected cash flow of CEG for the twelve months ending December 31, 2008.
- 3.
A narrative statement on curtailment/deferment of capital expenditures (if any) to ensure that retrospective premiums of $15 million per reactor per year for each nuclear incident would be available for payment.
A Form 10-Q is submitted every quarter to the United States Security and Exchange Commission.
Should you have any questions regarding the information in this submittal, please contact me at (315) 349-5219.
Very truly yours, Terry F. Syrell Director Licensing TFS/MHS
Enclosures:
- 1.
Consolidated Statements of Income as of March 31, 2008
- 2.
Projected Cash Flow for the Twelve Months Ending December 31, 2008
- 3.
Narrative Statement on Curtailment of Capital Expenditures
Document Control Desk August 6, 2008 Page 2 cc:
NRC Regional Administrator, Region I NRC Senior Resident Inspector NRR Project Manager
ENCLOSURE1 CONSOLIDATED STATEMENTS OF INCOME AS OF MARCH 31, 2008 Nine Mile Point Nuclear Station, LLC August 6, 2008
PART 1-FINANCUAL INFORMATION hem 1-ioFinancial Statements Constellation Energy Group, Inc. and.Subsidiaries "bhree.Monthi hsrded MWarch 31, 2008 2007 (in seiheiomn, except per 31haw ffinount.)
Rest-totes Nonregtslsted rev'enes IRegulansesi electric reavs ties, Rcegulasedi gas tcVvIttes Tod revenues Expenste Fuel a nd pstrchaýedl ener,- expenses Operating expesmcs Depreiation, depletion, and aoratirstion Accretion of asset retiremttent oriegationa T',Xt(.-
t to'6 n tes tte
'i Y e."
Total espenses I:nsenn&.-
ront 'paraiens.
Other Itacotnei. primarily interest inconme Inteetst expense Ineesesk capitealieed and allow.eence for hseroe-d tf-d, tused tewr;ns constostion BCi) prclerenes~eekl tO -tslldeIss.l.
Toseal iixed charges It-at toe. C-itii-atgl Op-eatisssu. Btlfist Intonems T'tlass Income Tax Expcnmc Income front Continuintg Operations lUss feem dicroneinued operations, net oif inconme tes 0
.$o'11.8 Net incomtie EarningsnApplicable to Common'Stock Averag.
Sh-t-ca of Cons tt Stoctk:Oust: aeltdi.---Baie Average. Shares of:Common Stock Outstanding-Diluted Earnings Per Comntn t Share :front Contsnuinig Operations..Ba.s1,ic Lout 1r'oatn ditCttttontll*
aoerat:onc Ernings pel Comtmsn Sharr-Basit Earnings Per Common Sharc.from Continuing Operations-Diluted lo,,s.i rehi d*uifntinui overations Earnings.Per Commontn Share-ý-Dilutred Dividend" Declared Per ComtnmsShate
$3,726.9 S4,193,8 709.3 51 'is 391.0
'402,5 4,827.2
. 5,111,1 3,743.1 590.1 148i.3 16.6 4,572.9 25423 42.3 4,016,7 568'?
132.'
11" 78.8 80.3 17.1)
(3. )
75.0 79;8 221.6 265.0 75.9 57.-
45*.7 V ?319
$ 145.7
$ 195.7 S 145,7 1957 178.2 180L.6 180,2 182A9 S
0.82 S
L09 01.82 1
lOS
(.81 3
1.08
$ 11-17)
$ 0.4.7775 0.41,'35 I
Constellation Energy Group, Jnc. and Subsidiaries Net IntcsomUse lelstta cmprx}hsnssnc trasos te{l)C I edgiene etnre'ssrns:
icdlasststicatton of net Icos on lsedgitsg mArtIeetttIS flor OCT ste tees i1et:ot.
set Oes easfes Net u 1eals ssegain ont
'lsgsnginrsm setrte., st sit eases Asat*iale-Iess-eal seceaitevt
- Reeeasý'lfcaesn atf net ga;t (M sae of set ecuitsies I -fset OCI to t ise srssr.e, nte oaltaxes Net tteils.ael u
les,'o e etrsties. :net of tasxes I)Defned beneeie obligasiowse:
Amorttizationr of net acttearial los, prior senrice cost, anrl raneisison obligatime included in net periodic bestefit cos st, atrio e'ase, Neo merealiz-d (slIossI oim sts esreign cssre*recy, tet ot taxes Ala rchs 3:1.
200118 2.001'
.(Ire sre s'wses S 14 5.7 51 195.?
177.0 1)9.4 361M6
- t013 (0.3)
(f.5; (45:11 139.3)
.5.1 6,3 5 2651 11,1 S 641.5
$ 391.6 Comprehensiee Income S" iVseeey we (owtseda'erd fTinceal Searesertre.
C-reeie psin--per6id amsetno*n sass,, been websaofiedsx. ess teAt seit]/ tee wet-s pertiode presentatine
ENCLOSURE2 PROJECTED CASH FLOW FOR THE TWELVE MONTHS ENDING DECEMBER 31, 2008 Nine Mile Point Nuclear Station, LLC August 6, 2008
ENCLOSURE 2 PROJECTED CASH FLOW FOR THE TWELVE MONTHS ENDING DECEMBER 31, 2008 Percentage Ownership in all Operating Units Nine Mile Point Unit No. 1 Nine Mile Point Unit No. 2 Maximum Total Contingent Liability Per Nuclear Incident
($000)
Payable Per Reactor Per Year ($000) 100.00%
82.00%
$201,200
$15,000 2007 Actual
$000 Net Income 821,500 Less: Dividends Paid Retained Earnings Adjustments:
Depreciation and Amortization Deferred income Taxes Investment tax credit Allowance for funds Used during construction Total Adjustment Internal Cash Flow Average Quarterly Cash Flow (306,000) 515,500 460,400 226,200 (6,700)
(4,900) 675,000 1,190,500 297,625 2008 Projected
$000 1,008,136 (337,162) 670,974 516,911 78,957 (5,016)
(6,496) 584,356 1,255,330 313,833 1 of 2
ENCLOSURE 2 PROJECTED CASH FLOW FOR THE TWELVE MONTHS ENDING DECEMBER 31, 2008 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 December 31, 2007.
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ENCLOSURE 3 NARRATIVE STATEMENT ON CURTAILMENT OF CAPITAL EXPENDITURES Nine Mile Point Nuclear Station, LLC August 6, 2008
ENCLOSURE 3 NARRATIVE STATEMENT ON CURTAILMENT OF CAPITAL EXPENDITURES 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 December 31, 2008 is $2,297 million.
To ensure 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.
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