LR-N11-0086, NRC Decommissioning Funding Status Report
| ML110900521 | |
| Person / Time | |
|---|---|
| Site: | Peach Bottom, Salem, Hope Creek  |
| Issue date: | 03/31/2011 |
| From: | Duke P Public Service Enterprise Group |
| To: | Document Control Desk, Office of Nuclear Reactor Regulation |
| References | |
| LR-N11-0086 | |
| Download: ML110900521 (4) | |
Text
PSEG P.O. Box 236, Hancocks Bridge, NJ 08038-0236 MAR 31.2011 LR-N11-0086 U. S. Nuclear Regulatory Commission ATTN: Document Control Desk Washington, DC 20555-0001 OPSEG Nuclear LLC NRC DECOMMISSIONING FUNDING STATUS REPORT SALEM, HOPE CREEK AND PEACH BOTTOM GENERATING STATIONS DOCKET NOS. 50-272, 50-311, 50-354, 50-277, AND 50-278 FACILITY OPERATING LICENSE NOS. DPR-70, 75, NPF-57, AND DPR-44, 56 This letter submits the status report of the decommissioning funds for the subject facilities in accordance with 10CFR §50.75(f)(1).
- 1. The minimum decommissioning funding estimate, pursuant to 10CFR §50.75(b) and (c).
Hope Creek Salem Unit 1 Salem Unit2 Peach Bottom Unit 2 Peach Bottom Unit 3 Total NRC Minimum Decommissioning Funding Requirements (PSEG Nuclear Share) ($Thousands) 628,450 276,730 276,730 314,225 314,225 1,810,361
- 2. Amount Accumulated as of December 31,2010.
The amount accumulated in both Qualified and Non-Qualified Trusts on December 31, 2010, for each respective Unit, is disclosed in the following Table:
Hope Creek Salem Unit 1 Salem Unit2 Peach Bottom Unit 2 Peach Bottom Unit 3 Total NRC Minimum Decommissioning Funding 1 Requirements (PSEG Nuclear Share) ($Thousands) 399,298 255,599 234,780 216,330 219,251 1,325,258 PSEG P.O. Box 236, Hancocks Bridge, NJ 08038-0236 MAR 31.2011 LR-N11-0086 U. S. Nuclear Regulatory Commission ATTN: Document Control Desk Washington, DC 20555-0001 OPSEG Nuclear LLC NRC DECOMMISSIONING FUNDING STATUS REPORT SALEM, HOPE CREEK AND PEACH BOTTOM GENERATING STATIONS DOCKET NOS. 50-272, 50-311, 50-354, 50-277, AND 50-278 FACILITY OPERATING LICENSE NOS. DPR-70, 75, NPF-57, AND DPR-44, 56 This letter submits the status report of the decommissioning funds for the subject facilities in accordance with 10CFR §50.75(f)(1).
- 1. The minimum decommissioning funding estimate, pursuant to 10CFR §50.75(b) and (c).
Hope Creek Salem Unit 1 Salem Unit2 Peach Bottom Unit 2 Peach Bottom Unit 3 Total NRC Minimum Decommissioning Funding Requirements (PSEG Nuclear Share) ($Thousands) 628,450 276,730 276,730 314,225 314,225 1,810,361
- 2. Amount Accumulated as of December 31,2010.
The amount accumulated in both Qualified and Non-Qualified Trusts on December 31, 2010, for each respective Unit, is disclosed in the following Table:
Hope Creek Salem Unit 1 Salem Unit2 Peach Bottom Unit 2 Peach Bottom Unit 3 Total NRC Minimum Decommissioning Funding 1 Requirements (PSEG Nuclear Share) ($Thousands) 399,298 255,599 234,780 216,330 219,251 1,325,258
- 3. Annual amounts remaining to be collected as of December 31,2010.
1 None MAR 31 lOU
- 4. Assumptions used regarding escalation in decommissioning costs, rates of earnings on decommissioning funds, and rates of other factors used in funding projections.
For the purpose of determining if the NRC's minimum requirements are met, PSEG has calculated that the current fund balances and annual funding levels, together with earnings at a 2% annual rate of return, as permitted by 10CFR §50.75(e)(1)(ii), satisfy NRC's minimum funding assurance requirements.
- 5. Any contracts upon which the licensee is relying pursuant to 10 CFR §50.75(e)(1)(v).
The licensee is not relying upon contracts in this regard.
- 6. Any modifications to a licensee's current method providing financial assurance occurring since the last submitted report.
As of December 31, 2010, PSEG Nuclear has prepaid its nuclear decommissioning liability.
The calculation is supported in Appendix A.
- 7. Any material changes to trust agreements.
None.
Should you have any questions regarding this report, please contact me at 856-339-5429.
Sincerely, QcJ2 Paul Duke Manager-Licensing Appendix A 1 New Jersey Board of Public Utilities (BPU) decision dated July 9, 2003.
- 3. Annual amounts remaining to be collected as of December 31,2010.
1 None MAR 31 lOU
- 4. Assumptions used regarding escalation in decommissioning costs, rates of earnings on decommissioning funds, and rates of other factors used in funding projections.
For the purpose of determining if the NRC's minimum requirements are met, PSEG has calculated that the current fund balances and annual funding levels, together with earnings at a 2% annual rate of return, as permitted by 10CFR §50.75(e)(1)(ii), satisfy NRC's minimum funding assurance requirements.
- 5. Any contracts upon which the licensee is relying pursuant to 10 CFR §50.75(e)(1)(v).
The licensee is not relying upon contracts in this regard.
- 6. Any modifications to a licensee's current method providing financial assurance occurring since the last submitted report.
As of December 31, 2010, PSEG Nuclear has prepaid its nuclear decommissioning liability.
The calculation is supported in Appendix A.
- 7. Any material changes to trust agreements.
None.
Should you have any questions regarding this report, please contact me at 856-339-5429.
Sincerely, QcJ2 Paul Duke Manager-Licensing Appendix A 1 New Jersey Board of Public Utilities (BPU) decision dated July 9, 2003.
Document Control Desk Page 3 LR-N 11-0086 C
Administrator - Region I U. S. Nuclear Regulatory Commission 475 A"endale Road King of Prussia, PA 19406 Project Manager - Hope Creek and Salem U. S. Nuclear Regulatory Commission Mail Stop 08B2 11555 Rockvi"e Pike Rockville, MD 20852 USNRC Senior Resident Inspector - Salem (X24)
USNRC Senior Resident Inspector - Hope Creek (X24)
Mr. P. Mulligan, Manager IV Bureau of Nuclear Engineering P. O. Box415 Trenton, NJ 08625 Document Control Desk Page 3 LR-N 11-0086 C
Administrator - Region I U. S. Nuclear Regulatory Commission 475 A"endale Road King of Prussia, PA 19406 Project Manager - Hope Creek and Salem U. S. Nuclear Regulatory Commission Mail Stop 08B2 11555 Rockvi"e Pike Rockville, MD 20852 USNRC Senior Resident Inspector - Salem (X24)
USNRC Senior Resident Inspector - Hope Creek (X24)
Mr. P. Mulligan, Manager IV Bureau of Nuclear Engineering P. O. Box415 Trenton, NJ 08625
APPENDIX A: Calculation of NRC Funding Requirements for Year 2010 Dollars in (000'5)
Projected Value jfSEG NUCLEAR SHARE Remaining Remaining Decommissioning Fair Market Value Projected Value of External Fund Years to End Years to Funding Requirements of External Fund of External Fund at Start Operating License of Operating start of lAW 10CFR50.75 as of December 31,2010 at EOL of Decommissioning Station and Unit Expiration Date License Life Decommissioning (note 1)
(note 2)
(note 3)
Surplus (Shortfall)
Hope Creek Unit No.1 April 11, 2026 15.32 58.8
$628,450,212
$399,298,000
$540,809,668
$879,052,737
$250,602,525 Salem Unit No.1 August 13, 2016 5.63 49.1
$276,730,331
$255,599,000
$285,764,425
$447,387,521
$170,657,190 Salem Unit No.2 April 18, 2020 9.32 52.8
$276,730,331
$234,780,000
$282,385,762
$439,312,337
$162,582,006 Peach Bottom Unit No.2 August 8, 2033 22.67 66.2
$314,225,106
$216,330,000
$338,880,131
$603,185,968
$288,960,862 Peach Bottom Unit No.3 July 2, 2034 23.57 67.1
$314,225,106
$219,251,000
$349,635,261
$628,891,301
$314,666,194
$1,810,361,086
$1,325,258,000
$1,797,475,248
$2,997,829,864
$1,187,468,778 note 1:
Amounts represent PSEG Nuclea(s share of funding and are in year 2010 dollars.
note 2:
Projected value of lund escalated at 2% compounded annually until license termination.
noie 3:
Projected value 01 lund escalated at 2% compounded Irom license termination until end of Salestor period less security and O&M. All Units assume 40 year Salestor + 3.5 years dismantlement.
note 4:
Calculations as at December31,2010 APPENDIX A: Calculation of NRC Funding Requirements for Year 2010 Dollars in (000'5)
Projected Value jfSEG NUCLEAR SHARE Remaining Remaining Decommissioning Fair Market Value Projected Value of External Fund Years to End Years to Funding Requirements of External Fund of External Fund at Start Operating License of Operating start of lAW 10CFR50.75 as of December 31,2010 at EOL of Decommissioning Station and Unit Expiration Date License Life Decommissioning (note 1)
(note 2)
(note 3)
Surplus (Shortfall)
Hope Creek Unit No.1 April 11, 2026 15.32 58.8
$628,450,212
$399,298,000
$540,809,668
$879,052,737
$250,602,525 Salem Unit No.1 August 13, 2016 5.63 49.1
$276,730,331
$255,599,000
$285,764,425
$447,387,521
$170,657,190 Salem Unit No.2 April 18, 2020 9.32 52.8
$276,730,331
$234,780,000
$282,385,762
$439,312,337
$162,582,006 Peach Bottom Unit No.2 August 8, 2033 22.67 66.2
$314,225,106
$216,330,000
$338,880,131
$603,185,968
$288,960,862 Peach Bottom Unit No.3 July 2, 2034 23.57 67.1
$314,225,106
$219,251,000
$349,635,261
$628,891,301
$314,666,194
$1,810,361,086
$1,325,258,000
$1,797,475,248
$2,997,829,864
$1,187,468,778 note 1:
Amounts represent PSEG Nuclea(s share of funding and are in year 2010 dollars.
note 2:
Projected value of lund escalated at 2% compounded annually until license termination.
noie 3:
Projected value 01 lund escalated at 2% compounded Irom license termination until end of Salestor period less security and O&M. All Units assume 40 year Salestor + 3.5 years dismantlement.
note 4:
Calculations as at December31,2010