ML092150420

Units I & 2, Submittal of Guarantee of Payment of Deferred Premiums

ML092150420
Person / Time
Site:	Calvert Cliffs
Issue date:	07/30/2009
From:	Gaines J Constellation Energy Group
To:	Document Control Desk, Office of Nuclear Reactor Regulation
References
Download: ML092150420 (3)

Text

Calvert Cliffs Nuclear Power Plant 1650 Calvert Cliffs Parkway Lusby, Maryland 20657 Constellation Energy-Nuclear Generation Group July 30, 2009 U. S. Nuclear Regulatory Commission Washington, DC 20555 ATTENTION:

SUBJECT:

Document Control Desk Calvert Cliffs Nuclear Power Plant Unit Nos. I & 2; Docket Nos. 50-317 & 50-318 Guarantee of Payment of Deferred Premiums Pursuant to the requirements of 10 CFR 140.21(e), enclosed is the Consolidated Statements of Cash Flows, i.e., page 86 of the Constellation Energy Group, Inc., Form 10K (Annual Report) to the Securities and Exchange Commission for the fiscal year ended December 31, 2008.

This enclosure shows that Constellation Energy Group has a cash flow that can be generated and would be available for payment of the Calvert Cliffs Nuclear Power Plant, Inc., retrospective premiums of

$15 million per unit.

Should you have questions regarding this matter, please contact Mr. Jay S. Gaines at (410) 495-5219.

Very truly yours, for Jay S. Gaines Director - Licensing JSG/RDW/bjd

Enclosure:

(1)

Consolidated Statements of Cash Flows cc:

D. V. Pickett, NRC S. J. Collins, NRC Resident Inspector, NRC S. Gray, DNR

)s-il ý)o I

ENCLOSURE (1)

CONSOLIDATED STATEMENTS OF CASH FLOWS Calvert Cliffs Nuclear Power Plant, Inc.

July 30, 2009

ENCLOSURE (1)

CONSOLIDATED STATEMENTS OF CASH FLOWS CONSOLIDATED STATEMENTS OF CASH FLOWS Constellation Energy Group, Inc. and Subsidiaries Year Ended December 31, 2008 2007 2006 CashkFo*ws FrompQperating Activities.

Net (loss) income

[--Ts-e-tjýý~ocieo p

J (1,314..4)

.$ 821.5

$ 936.4 Gain on sales of gas-fired plants and discontinued operations

_ (191-4)

L_Eepreciation,.depletio

,andAmortization 583.2 557.8 523.9]

Amortization of nuclear fuel 123.9 114.3 99.5 L_.Amortization of -energyciontracts (256.3).

.j(2219)

(l05.2)

All other amortization 40.5 11.2 26.9 L-Accretiono (.asset retir rmenotbligationA_____

00

-6j Deferred income taxes (122.8) 226.2 128.0 L

lnv estment tax eredit adjustmngpts-(64)

(-

Deferred fuel costs 52.0 (248.0)

(348.5)

Defined benefit obligation payments (120.4)

(

(165.4)

(89.2)

LMerger terination and strategicalternatives costs 541.8 I

Workforce reduction costs 22.2 2.3 28.2 L..ppairmnent l _s ses and other.osts 741.8

,20.2[

]

Impairment losses on nuclear deommissioning miust aseets 165.0 8.5 Gains on sales of assets and investments

'(38.1)

Lqi pnt-iation.q-fcgntm*ts

-33)

Equity in earnings of affiliates lessthan dividends received 6.3 45.3 27.6 DZertivtive powe sales contracts casfied as financin~ atvities under S SN.149 (172).32 -

.6 Changes in working capital j.ep p

ef-I--,.--e--d-- gmagih

_606.7 g664 P)-_1

_ 3.7)

Derivative assets and liabilities, excluding collateral (757.9)

(138.2)

(286.1)

L___.I_*

-la l

n0igin--

,(96) 9 (6

Materials, supplies, and fuel stocks 43.5)

(66.)

(267.2)

Accounts payable and accrued liabilities (225.8) 448.8 380.5 L-Liabiity.fosr-u~nre~cognizedjax..eisfitsý 7.7 Z 7.9 --------

Other current liabilities (238.1)

(14.0) 19.9

[L Other 7

.i 52 (54.5)

-2 Net cash (used in) provided by operating activities (1,274.3) 927.8 525.3 C as h Flo~ws F rom Investing Activities 1

Investments in property, plant and equipment (1,934.1)

(1,295.7)

(962.9)

[

i~~~-sAu

~ a-**net ofcash acquir~ed-

,'(31 5.).-"

,.(3--7-.5)

(13.)'

Investments in nuclear decommissioning trust fund securities (440.6)

(659.5)

(492.5)

LZpo dsý_torn1nucleca decommissioning trust fund securities421.9 83.7 Net proceeds from sale of gas-fired plants and discontinued operations 1,630.7 Llsau~

sosf 19anreceivable

~

(1 9.0)

(65.47 Proceeds from sales of investments and other assets 446.3 13.9 43.9 LContractand.pogfolio-adqujisiiopns

• 414-

)

-2J.)

(Increase) decrease in restricted funds (942.8)

(109.9) 7.7 EOther 721.7

(-4-5.3)-

54.*

Net cash (used in) provided by investing activities (2,742.9)

(2,286.5) 560.1 Cash Flows From Financing Acivities Net issuance (maturity) of short-term borrowings 813.7 14.0 (0.7)

Lproceeds from issuanceof cmon stock 17.6

_--65*.1

.84.4]

!Proceeds from issuance of long-term debt 3,211.4 698.2 852.0 LProceeds from initia' publie offeringof CEP 101.3 Common stock dividends paid (336.3)

(306.0)

(264.0)

Proceeds from contract and portfolio acquisitions 847.8 221.3 Lftepayrnenpt~fJoig-tyrmle't 574 7453)

(

J9.)

Derivative power sales contracts classified as financing activities under SFAS No. 149 107.2 (32.2)

(2.6)

Kebt financng coats

-(

104.*.

Other 8.3 33.4 8.1 L[Not cash provided by financing activities 3,123.5 165.5 390.71 Net (Decrease) Increase in Cash and Cash Equivalents (893.7)

(1,193.2) 1,476.1 Cash and Cah Euivalents at Beginning of Year 1,09Q5.9.

,289.1 813.01I Cash and Cash Equivalents at End of Year S

202.2

$ 1,095.9

$2,289.1 Other Cash Flow Information:

Cash paid during the year for:

Income taxes 119.2 282.4

$ 109.3 See Notes to Consolidated Financial Statements.

Certain prior-year amounts have been reclassified to conform with the current year's presentation.

86