ML101870022

Submittal of Consolidated Statements of Cash Flows, Guarantee of Payment of Deferred Premiums

ML101870022
Person / Time
Site:	Calvert Cliffs
Issue date:	07/01/2010
From:	Lauver D Calvert Cliffs, Constellation Energy Nuclear Group
To:	Document Control Desk, Office of Nuclear Reactor Regulation
References
Download: ML101870022 (4)

Text

Calvert Cliffs Nuclear Power Plant 1650 Calvert Cliffs Parkway Lusby, Maryland 20657 CENG a joint venture of Constellation Energy 6'eDF CALVERT CLIFFS NUCLEAR POWER PLANT July 1, 2010 U. S. Nuclear Regulatory Commission Washington, DC 20555 ATTENTION: Document Control Desk

SUBJECT:

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 are the Consolidated Statements of Cash Flows, i.e., page 60 of the Constellation Energy Group, Inc., Form 10K (Annual Report) and page 5 of Constellation Energy Nuclear Group Consolidated Financial Statements for the period November 6, 2009 through December 31, 2009, to the Securities and Exchange Commission for the fiscal year ended December 31, 2009.

This enclosure shows that Constellation Energy Group/Constellation Energy Nuclear Group has a cash flow that can be generated and would be available for payment of the Calvert Cliffs Nuclear Power Plant, Inc./Calvert Cliffs Nuclear Power Plant, LLC, retrospective premiums of $15 million per unit.

Should you have questions regarding this matter, please contact me at (410) 495-5219.

Very truly yours, Douglas E. Lauver Director - Licensing DEL/RDW/bjd

Enclosure:

(1) Consolidated Statements of Cash Flows cc: D. V. Pickett, NRC Resident Inspector, NRC S. J. Collins, NRC S. Gray, DNR MW4

ENCLOSURE (1)

CONSOLIDATED STATEMENTS OF CASH FLOWS Calvert Cliffs Nuclear Power Plant, LLC July 1, 2010

Cash Flows The following table summarizes our 2009 cash flows by business segment. as well as our consolidated~cash flows for 2009, 2008, and 2007.

2009 Segment. Cash Flows CoJnsolidaeld Cash Flows Holding, Company

,Merchant Repulated and Other 2009 2008 2007 (In millions)

Operating Aetivities Net -income (loss) $ 4A35.0 $ 104.6 s (362) C5 4,503.4 $(1,318.4) .833.5 Noni-eash merger termination and strategic alternatives costs 128.2 128.2 541,8 Derivative, contracts classified as financing,acrivities (1) 1A138.3 1,138.3 (107.2) 322 Gain on.sal-of 49.99% membership interest in CENG (7,445.6) (7,445.6)

Loss (gain) on divestitures 464.2 4.6 468.8 (38.1)

Accrual of BGE residcntial customri credit 112.4 112.4 Impairment losses and other costs 98.1 26.6 124.7 741.8 20.2 602.9 Other non-cash adjustments to net (loss) income 2,071.2 525.0 164.8 2,761.0 493.0 Changes in working capital Derivative assers nd. liabilities, excluding, collateral 419.4 (0.1) 6.0 425.3 (7.57.9) (138.2)

Net collateral and margin 1,519.,2 3.6 - 1,522.8 (960.3) 19.6 Other changes 803.2 20.9 (57.1) 767.0 93.6 (242.4)

Defined benefit oblig*tioifs (2)ý -. (287.2) (20.8) (53.6)

48. I Othcr (44.4) 168.0 171.7 (38.5) (53.3)

Net-cash provided by (used in).operating ictiviiies, 3,586.8 814.5 276.7- 4,390.8 (1,261..) 941.0 Investing Activities Investments in property, plant and equipment (1,118.7) (372.4) (38O6) (1,529.7) (1,934.1) (1,295.7):

(4i1.1:)

Asset acquitiitns and busiiness'combinations, nct of casbhls uired -- (41A1) (315.3) (347;5)

Cotitriburions to nudctarcdlconitissioning.,(rust finds i(38.-) (18.7) (8.8)

Investments in joint ventures (11 0.0) (91*.6) (201*.6)

Issistncaes of loans receivable (19.01 Proceeds from sale of.49.99% membership interest in CENG :3,528.7 3,528.7 Proceeds from salerof investments and other asets 50.0 8.,3 446.3 13.9 Contract and portfolio acquisitions (2;I 53.7) (2,153,7) (474.2)

(increase). decrease in restricted finds (3) (0.2) (0.6) 1',004.1 1,003.3

• 0.1 (9,42.8) (109.9)

Other investments 0.3 -- (02) 21.7 (453)

Net cash provided by (used in),investing aitivitics 177.7 .(373.0) 870.9 675.6 (2,7429) (2,286.5).

Cash flows from operating acividtes plusecash flows from investing activities $ 3,7645 $I441,5 S1.147..6 5,066.4 (4,004.0) (1,345.5)

Finmacing Activities (2)

NiO (repayment) issuance of debt (2,660.4) 3,447.7 (33.1)

L.ebtaand credit facility costs (98.4) (104.8) -

Procceds from issuance of common stock 33.9 17.6 65.1 Common stock dividends paid (228.0) (336.3) (306.0)

BGE' preference stock dividendis paid (13.2) (.13.2) (13.2)

Reacquisition of cosmmon stock' -- (1.6.2) (409.5)

Proceeds from contract and, portfolio acquisitions .2,263,1 -- 847.8 Dirivadte contracts clhssiHfid as financing activities (1) (1,138-3) 107,2 (32.2)

Other 12.7 8.3 33.4

'Net cash (used in) provided by financing. qtiaviienis (1,828.6) 3,110.3 152.3 Net increase (decrease) in cads and cash equivalents . $3,237.8 $i (893.7) $(1,193.2)

(1) All ouisoirig cAshflows from deivriw. rn' ontraejs slesoý.d to consaun afnaniing elernenr.as inception muir bie rs'cessifiedyrom.. operarng activities. to financing activities.

(2) Items are not..aliocaridw die buiics,segrninss becasse thtey are #anagedfjre.the d6mpany as a whoh,..

(3) The (inorate) decreoase in rersireter funds ia our itflding Companyýand Other is primarilj retated to. Si. .bitlion of eimrirrid cash reatedto the, issuance

,of Serhi B Prefetrid Stocvk to .EDJ:t These funt/ wire h.,ldt.ot/se holding.company and were. rririedfprpaymenr of ihe 14% Senior Notes held by MidAmerican. The 14%,%Senor ]Notes weiv repaidit full in January200,9.

Certain prior-year a rmountc hai'e been riclassified to conform wdhb tike. currenrt years;presenratibn.

60

Constellation Energy Nuclear Group, LLC For the period November 6 thro6gh December 31, Z009 (17 Thouwamd of U.S Dollars)

Cash Flows From Operating Activities Net Inc'ome $ 68,519 Adjustmenc'slro, recocile to net cash provided by,6peraring activi:ies:

Amortization of -nuclear Fuiel 24,0668 Depreciation 17.160.

Amortizaadon of Ginna power.purchase agreemeuit (882)

Accretion of asset retirement obligations 11,257 Net earnings on nuclear decommissioning trust funds (5,216)

Provision for income taxes on nuclear decommissioning trust fund earnings 1,333 Defined benefit obligation expense 6,676 Defined b~eneit obligation payments (1,202),

Long-term incentive plan compensation 778 Changes in:

Accounts receivable (76,747)

Spare parts, materials, and supplies (3,585)

Prepaid expenses and other current assets 91568 Deferred costs, ofCECG power:scrvices agency agreement (3,726)

Accounts payable and, accrued liabilities 10,290 l(et cash provided,;by operating activities 58,$291 Cash Flows From Investing Activities Investments in property, plant, andr.equipment (34,493)

Purchases of nuclear.fuel. (12,760)

Investments in nuclear decornmissioning trust,Rind securities (300697)

Proceeds from the sale 6f~iuclear decommissioning tnust fund, securities 30;697 Net cash used in ýiivestingactivities (47,253)

Cash Flows From Financing Activities-Distributions to members. (13,515)

Net cash used in financing activities (13,515)

NetDecrease in Cash and Cash Equivalents (2,477)

Cash and Cash Equivalents at Beginning of Period 224,920

,Cash and Cash. Equivalents at End of Period $ 222,44.3 The iacc0miiipatying notestare an infrgrýd part ofthese consolidatedfinanial statements.

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