ML112351240
| ML112351240 | |
| Person / Time | |
|---|---|
| Site: | Brunswick  |
| Issue date: | 11/14/2011 |
| From: | Szabo A Division of Inspection and Regional Support |
| To: | |
| Szabo, A L, NRR/DPR, 415-1985 | |
| References | |
| Download: ML112351240 (5) | |
Text
Datasheet 1 Plant name: Brunswick Steam Electric Plant, Unit 1 Docket Number: 50-325 1 The minimum financial assurance (MFA) estimate pursuant to 10 CFR 50.75(b) & (c): $587.9million Did the licensee identify the amount of estimated radiological funds? (Y/N) Y 2 The total amount of dollars accumulated at the end of the appropriate year: (see below)
Licensee: % Owned: Category: Amount in Trust Fund:
Progress Energy Carolina 81.67% 1 $224,176,756 North Carolina Eastern Municipal 18.33% 1 $79,567,010 Power Agency Total Trust Fund Balance $303,743,766 3 Schedule of the annual amounts remaining to be collected: (provided/none) Provided 4 Assumptions used in determining rates of escalation in decommissioning costs, rates of earnings on decommissioning funds, and rates of other factors used in funding projections: (see below)
Post-RAI Rate of Rate(s) of PUC RAI PUC Allowed Rates Real Rate Allowed through Decom Return on Escalation Rate Other Verified Needed Verified through Determined of Return (Y/N)
Earnings Factors (Y/N) (Y/N) (Y/N) Decom (Y/N) (Y/N) variable1 3.00% variable1 Y N Y Y N Y 5 Any contracts upon which the licensee is relying? (Y/N) N 6 Any modifications to a licensee's method of providing decommissioning funding assurance? (Y/N) N 7 Any material changes to trust agreements? (Y/N) Y2 If a change has occurred, the reviewer will document on this sheet that a change has occurred and identify the reviewer who will evaluate the change: (see below) 1 Rates provided are variable because the rates are not consistent throughout the funds of the licensee 2
Effective 2/16/2010, Progress Energy Service Company, LLC engaged Watson Wyatt Investment Consulting, Inc., a Tower Watson company as its new investment advisor. Towers Watson Advises Progress Energy on its trust investments including its nuclear decommissioning trusts.
Signature: Aaron L. Szabo Date: 7/26/2011 Signature: Jo Ann Simpson Spreadsheet created by: Aaron Szabo, Shawn Harwell Date: 8/9/2011 Formulas verified by: Clayton Pittiglio
Datasheet 2 Plant name: Brunswick Steam Electric Plant, Unit 1 Docket Number: 50-325 Month: Day Year:
Date of Operation: 12 31 2010 Termination of Operations: 9 8 2036 Latest Latest BWR/PWR MWth 1986$ ECI Base Lx Lx Px Base Px Fx Base Fx Ex Bx Month Px Month Fx BWR 2923 $130,307,000 112.8 1.98 0.65 2.23 1.676 191.4 114.2 3.049 250.0 82.0 0.13 2.307 0.22 12.54 NRC Minimum: $587,750,866 Site Specific:
Amount of NRC Minimum/Site Licensee: % Owned: Category Specific: Amount in Trust Fund:
Progress Energy Carolina 81.67% 1 $480,016,132 $224,176,756 North Carolina Eastern 18.33% 1 $107,734,734 $79,567,010 Municipal Power Agency Total Fund Balance: $303,743,766 Step 1:
Earnings Credit:
Real Rate of Return Years Left Trust Fund Balance: per year in License Total Earnings: Does Licensee Pass:
$303,743,766 2% 25.69 $505,149,430 NO Step 2:
Accumulation:
Value of Annuity per year Real Rate of Return Number of Annual (amount/See Annuity Sheet) per year Payments: Total Annuity:
see annuity sheet See Annuity Sheet See Total Step 2 Real Rate of Return Years remaining after Total Annuity per year annuity Total Step 2:
See Total Step 2 See Annuity Sheet N/A $94,599,929 Total Step 1 + Step 2 Does Licensee Pass:
$599,749,359 YES Step 3:
Decom Period:
Real Rate of Return Decom Total Earnings for Total Earnings: per year Period: Decom:
$599,749,359 2% 7 $44,587,067 Total of Steps 1 thru 3: Does Licensee Pass: Shortfall:
$644,336,426 YES NO Signature: Aaron L. Szabo Date: 7/26/2011 Signature: Jo Ann Simpson Spreadsheet created by: Aaron Szabo, Shawn Harwell Date: 8/9/2011 Formulas verified by: Clayton Pittiglio
Datasheet 2 Plant name: Brunswick Steam Electric Plant, Unit 1 Docket Number: 50-325 Month: Day Year:
Date of Operation: 12 31 2010 Termination of Operations: 9 8 2036 If licensee is granted greater than 2% RRR Step 4:
Earnings Credit:
Real Rate Years Type of Fund Trust Fund Balance: of Return Left in Total Earnings: Does Licensee Pass:
North Carolina Qualified $137,755,072 3.00% 25.69 $570,397,439 NO All Others $165,988,694 2.00%
Step 5:
Accumulation:
Real Rate of Return Number of Annual Value of Annuity per year per year Payments: Total Annuity:
see annuity sheet See Annuity Sheet 0 See Total Step 4 Real Rate of Return Years remaining after Total Annuity per year annuity Total Step 5 See Total Step 4 See Annuity Sheet N/A $94,599,929 Total Step 4 + Step 5 Does Licensee Pass:
$664,997,368 YES Step 6:
Decom Period:
Real Rate of Return Decom Total Earnings for Total Earnings: per year Period: Decom:
$664,997,368 2.00% 7 $49,437,789 Total of Steps 4 thru 6: Does Licensee Pass: Shortfall:
$714,435,157 YES NO Signature: Aaron L. Szabo Date: 7/26/2011 Signature: Jo Ann Simpson Spreadsheet created by: Aaron Szabo, Shawn Harwell Date: 8/9/2011 Formulas verified by: Clayton Pittiglio
Datasheet 2 ANNUITY Termination of Operations: 9 8 2036 Total Year Annuity: Real Rate of Return: Accumulation 2011 $7,118,386 2% $11,838,802 2012 $5,927,168 2% $9,664,365 2013 $5,927,168 2% $9,474,867 2014 $5,927,168 2% $9,289,086 2015 $5,927,168 2% $9,106,947 2016 $5,927,168 2% $8,928,379 2017 $5,927,168 2% $8,753,313 2018 $1,202,765 2% $1,741,429 2019 $1,202,765 2% $1,707,284 2020 $1,202,765 2% $1,673,807 2021 $1,202,765 2% $1,640,988 2022 $1,202,765 2% $1,608,811 2023 $1,202,765 2% $1,577,266 2024 $1,202,765 2% $1,546,339 2025 $1,202,765 2% $1,516,019 2026 $1,202,765 2% $1,486,293 2027 $1,202,765 2% $1,457,150 2028 $1,202,765 2% $1,428,578 2029 $1,202,765 2% $1,400,567 2030 $1,202,765 2% $1,373,105 2031 $1,202,765 2% $1,346,181 2032 $1,202,765 2% $1,319,786 2033 $1,202,765 2% $1,293,908 2034 $1,202,765 2% $1,268,537 2035 $1,202,765 2% $1,243,664 2036 $902,074 2% $914,459 Total: $94,599,929 Signature: Aaron L. Szabo Date: 7/26/2011 Signature: Jo Ann Simpson Spreadsheet created by: Aaron Szabo, Shawn Harwell Date: 8/9/2011 Formulas verified by: Clayton Pittiglio
Datasheet 2 ANNUITY Termination of Operations: 9 8 2036 If licensee is granted greater than 2% RRR Total Year Annuity: Real Rate of Return: Accumulation North Carolina NonQualified, South Carolina and Wholesale 2011 $7,118,386 2.00% $11,838,802 2012 $5,927,168 2.00% $9,664,365 2013 $5,927,168 2.00% $9,474,867 2014 $5,927,168 2.00% $9,289,086 2015 $5,927,168 2.00% $9,106,947 2016 $5,927,168 2.00% $8,928,379 2017 $5,927,168 2.00% $8,753,313 2018 $1,202,765 2.00% $1,741,429 2019 $1,202,765 2.00% $1,707,284 2020 $1,202,765 2.00% $1,673,807 2021 $1,202,765 2.00% $1,640,988 2022 $1,202,765 2.00% $1,608,811 2023 $1,202,765 2.00% $1,577,266 2024 $1,202,765 2.00% $1,546,339 2025 $1,202,765 2.00% $1,516,019 2026 $1,202,765 2.00% $1,486,293 2027 $1,202,765 2.00% $1,457,150 2028 $1,202,765 2.00% $1,428,578 2029 $1,202,765 2.00% $1,400,567 2030 $1,202,765 2.00% $1,373,105 2031 $1,202,765 2.00% $1,346,181 2032 $1,202,765 2.00% $1,319,786 2033 $1,202,765 2.00% $1,293,908 2034 $1,202,765 2.00% $1,268,537 2035 $1,202,765 2.00% $1,243,664 2036 $902,074 2.00% $914,459 Total: $94,599,929 Signature: Aaron L. Szabo Date: 7/26/2011 Signature: Jo Ann Simpson Spreadsheet created by: Aaron Szabo, Shawn Harwell Date: 8/9/2011 Formulas verified by: Clayton Pittiglio