ML112370014
| ML112370014 | |
| Person / Time | |
|---|---|
| Site: | Harris  |
| Issue date: | 11/14/2011 |
| From: | Szabo A Division of Inspection and Regional Support |
| To: | |
| Szabo, A L, NRR/DPR, 415-1985 | |
| References | |
| Download: ML112370014 (5) | |
Text
Datasheet 1 Plant name: Harris (Shearon) Nuclear Power Plant Docket Number: 50-400 1 The minimum financial assurance (MFA) estimate pursuant to 10 CFR 50.75(b) & (c): $447.1million 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 Carolinas, Inc. 83.83% 1 $234,562,613 North Carolina Municipal Power 16.17% 1 $41,023,543 Agency Total Trust Fund Balance $275,586,156 3 Schedule of the annual amounts remaining to be collected: (provided/none) provided 4 Assumptions used in determining rates of escalation in decommissioning costs, rates of earnings on decommissioning funds, and rates of other factors used in funding projections: (see below)
Post-RAI Rate of Rate(s) of PUC RAI PUC Allowed Rates Real Rate of Allowed through Decom Return on Escalation Rate Other Verified Needed Verified through Determined Return (Y/N)
Earnings Factors (Y/N) (Y/N) (Y/N) Decom (Y/N) (Y/N) variable1 3.00% variable1 Y N N Y N Y 5 Any contracts upon which the licensee is relying? (Y/N) N 6 Any modifications to a licensee's method of providing decommissioning funding assurance? (Y/N) N 7 Any material changes to trust agreements? (Y/N) Y2 If a change has occurred, the reviewer will document on this sheet that a change has occurred and identify the reviewer who will evaluate the change: (see below) 1 Rates provided are variable because the rates are not consistent throughout the funds of the licensee 2
Effective 2/16/2010, Progress Energy Service Company, LLC engaged Watson Wyatt Investment Consulting, Inc., a Tower Watson company as its new investment advisor.
Towers Watson Advises Progress Energy on its trust investments including its nuclear decommissioning trusts.
Signature: Aaron L. Szabo Date: 7/26/2011 Signature: Jo Ann Simpson Spreadsheet created by: Aaron Szabo, Shawn Harwell Date: 8/10/2011 Formulas verified by: Clayton Pittiglio
Datasheet 2 Plant name: Harris (Shearon) Nuclear Power Plant Docket Number: 50-400 Month: Day Year:
Date of Operation: 12 31 2010 Termination of Operations: 10 24 2046 Latest Latest BWR/PWR MWth 1986$ ECI Base Lx Lx Px Base Px Fx Base Fx Ex Bx Month Px Month Fx PWR 2900 $100,520,000 112.8 1.98 0.65 2.23 1.676 191.4 114.2 3.049 250.0 82.0 0.13 2.253 0.22 12.28 NRC Minimum: $446,929,043 Site Specific:
Amount of NRC Minimum/Site Licensee: % Owned: Category Specific: Amount in Trust Fund:
Progress Energy Carolinas, Inc. 83.83% 1 $374,660,617 $234,562,613 North Carolina Municipal Power 16.17% 1 $72,268,426 $41,023,543 Agency Total Fund Balance: $275,586,156 Step 1:
Earnings Credit:
Real Rate of Return Years Left Trust Fund Balance: per year in License Total Earnings: Does Licensee Pass:
$275,586,156 2% 35.81 $560,099,627 YES 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 $810,156,818 Total Step 1 + Step 2 Does Licensee Pass:
$1,370,256,445 YES Step 3:
Decom Period:
Real Rate of Return Decom Total Earnings for Total Earnings: per year Period: Decom:
$1,370,256,445 2% 7 $101,868,747 Total of Steps 1 thru 3: Does Licensee Pass: Shortfall:
$1,472,125,193 YES NO Signature: Aaron L. Szabo Date: 7/26/2011 Signature: Jo Ann Simpson Spreadsheet created by: Aaron Szabo, Shawn Harwell Date: 8/10/2011 Formulas verified by: Clayton Pittiglio
Datasheet 2 Plant name: Harris (Shearon) Nuclear Power Plant Docket Number: 50-400 Month: Day Year:
Date of Operation: 12 31 2010 Termination of Operations: 10 24 2046 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 Fund $142,471,204 3.00% 35.81 $681,201,121 YES All Others $133,114,952 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 $832,926,074 Total Step 4 + Step 5 Does Licensee Pass:
$1,514,127,194 YES Step 6:
Decom Period:
Real Rate of Return Decom Total Earnings for Total Earnings: per year Period: Decom:
$1,514,127,194 2.00% 7 $112,564,506 Total of Steps 4 thru 6: Does Licensee Pass: Shortfall:
$1,626,691,701 YES NO Signature: Aaron L. Szabo Date: 7/26/2011 Signature: Jo Ann Simpson Spreadsheet created by: Aaron Szabo, Shawn Harwell Date: 8/10/2011 Formulas verified by: Clayton Pittiglio
Datasheet 2 ANNUITY Termination of Operations: 10 24 2046 Real Rate Total Year Annuity: of Return: Accumulation 2011 $17,538,171 2% $35,645,600 2012 $16,706,579 2% $33,289,632 2013 $16,706,579 2% $32,636,894 2014 $16,706,579 2% $31,996,955 2015 $16,706,579 2% $31,369,563 2016 $16,706,579 2% $30,754,474 2017 $16,706,579 2% $30,151,445 2018 $14,885,194 2% $26,337,523 2019 $14,885,194 2% $25,821,101 2020 $14,885,194 2% $25,314,805 2021 $14,885,194 2% $24,818,436 2022 $14,885,194 2% $24,331,800 2023 $14,885,194 2% $23,854,706 2024 $14,885,194 2% $23,386,967 2025 $14,885,194 2% $22,928,399 2026 $14,885,194 2% $22,478,822 2027 $14,885,194 2% $22,038,061 2028 $14,885,194 2% $21,605,942 2029 $14,885,194 2% $21,182,296 2030 $14,885,194 2% $20,766,957 2031 $14,885,194 2% $20,359,762 2032 $14,885,194 2% $19,960,551 2033 $14,885,194 2% $19,569,168 2034 $14,885,194 2% $19,185,458 2035 $14,885,194 2% $18,809,273 2036 $14,885,194 2% $18,440,464 2037 $14,885,194 2% $18,078,886 2038 $14,885,194 2% $17,724,398 2039 $14,885,194 2% $17,376,861 2040 $14,885,194 2% $17,036,138 2041 $14,885,194 2% $16,702,096 2042 $14,885,194 2% $16,374,604 2043 $14,885,194 2% $16,053,533 2044 $14,885,194 2% $15,738,758 2045 $14,885,194 2% $15,430,155 2046 $12,404,328 2% $12,606,335 Total: $810,156,818 Signature: Aaron L. Szabo Date: 7/26/2011 Signature: Jo Ann Simpson Spreadsheet created by: Aaron Szabo, Shawn Harwell Date: 8/10/2011 Formulas verified by: Clayton Pittiglio
Datasheet 2 ANNUITY Termination of Operations: 10 24 2046 If licensee is granted greater than 2% RRR Real Rate Total Real Rate Total Real Rate Total Year Annuity: of Return: Accumulation Year Annuity: of Return: Accumulatio Year Annuity: of Return: Accumulatio North Carolina Qualified North Carolina NonQualified South Carolina and Wholesale 2011 $8,433,298 3.00% $24,309,293 2011 $4,370,492 2.00% $8,882,842 2011 $2,902,789 2.00% $5,899,797 2012 $8,433,298 3.00% $23,601,255 2012 $4,370,492 2.00% $8,708,669 2012 $2,902,789 2.00% $5,784,115 2013 $8,433,298 3.00% $22,913,840 2013 $4,370,492 2.00% $8,537,911 2013 $2,902,789 2.00% $5,670,701 2014 $8,433,298 3.00% $22,246,446 2014 $4,370,492 2.00% $8,370,501 2014 $2,902,789 2.00% $5,559,511 2015 $8,433,298 3.00% $21,598,492 2015 $4,370,492 2.00% $8,206,373 2015 $2,902,789 2.00% $5,450,501 2016 $8,433,298 3.00% $20,969,409 2016 $4,370,492 2.00% $8,045,464 2016 $2,902,789 2.00% $5,343,628 2017 $8,433,298 3.00% $20,358,650 2017 $4,370,492 2.00% $7,887,710 2017 $2,902,789 2.00% $5,238,851 2018 $8,433,298 3.00% $19,765,679 2018 $3,063,777 2.00% $5,420,977 2018 $2,388,119 2.00% $4,225,483 2019 $8,433,298 3.00% $19,189,980 2019 $3,063,777 2.00% $5,314,684 2019 $2,388,119 2.00% $4,142,631 2020 $8,433,298 3.00% $18,631,049 2020 $3,063,777 2.00% $5,210,474 2020 $2,388,119 2.00% $4,061,403 2021 $8,433,298 3.00% $18,088,397 2021 $3,063,777 2.00% $5,108,308 2021 $2,388,119 2.00% $3,981,767 2022 $8,433,298 3.00% $17,561,550 2022 $3,063,777 2.00% $5,008,145 2022 $2,388,119 2.00% $3,903,693 2023 $8,433,298 3.00% $17,050,049 2023 $3,063,777 2.00% $4,909,946 2023 $2,388,119 2.00% $3,827,150 2024 $8,433,298 3.00% $16,553,445 2024 $3,063,777 2.00% $4,813,673 2024 $2,388,119 2.00% $3,752,108 2025 $8,433,298 3.00% $16,071,306 2025 $3,063,777 2.00% $4,719,287 2025 $2,388,119 2.00% $3,678,538 2026 $8,433,298 3.00% $15,603,210 2026 $3,063,777 2.00% $4,626,752 2026 $2,388,119 2.00% $3,606,409 2027 3.00% $0 2027 $11,497,075 2.00% $17,021,830 2027 $2,388,119 2.00% $3,535,695 2028 3.00% $0 2028 $11,497,075 2.00% $16,688,069 2028 $2,388,119 2.00% $3,466,368 2029 3.00% $0 2029 $11,497,075 2.00% $16,360,852 2029 $2,388,119 2.00% $3,398,400 2030 3.00% $0 2030 $11,497,075 2.00% $16,040,051 2030 $2,388,119 2.00% $3,331,765 2031 3.00% $0 2031 $11,497,075 2.00% $15,725,540 2031 $2,388,119 2.00% $3,266,436 2032 3.00% $0 2032 $11,497,075 2.00% $15,417,196 2032 $2,388,119 2.00% $3,202,388 2033 3.00% $0 2033 $11,497,075 2.00% $15,114,898 2033 $2,388,119 2.00% $3,139,596 2034 3.00% $0 2034 $11,497,075 2.00% $14,818,527 2034 $2,388,119 2.00% $3,078,036 2035 3.00% $0 2035 $11,497,075 2.00% $14,527,968 2035 $2,388,119 2.00% $3,017,682 2036 3.00% $0 2036 $11,497,075 2.00% $14,243,106 2036 $2,388,119 2.00% $2,958,512 2037 3.00% $0 2037 $11,497,075 2.00% $13,963,829 2037 $2,388,119 2.00% $2,900,502 2038 3.00% $0 2038 $11,497,075 2.00% $13,690,029 2038 $2,388,119 2.00% $2,843,629 2039 3.00% $0 2039 $11,497,075 2.00% $13,421,597 2039 $2,388,119 2.00% $2,787,872 2040 3.00% $0 2040 $11,497,075 2.00% $13,158,428 2040 $2,388,119 2.00% $2,733,208 2041 3.00% $0 2041 $11,497,075 2.00% $12,900,420 2041 $2,388,119 2.00% $2,679,615 2042 3.00% $0 2042 $11,497,075 2.00% $12,647,470 2042 $2,388,119 2.00% $2,627,074 2043 3.00% $0 2043 $11,497,075 2.00% $12,399,481 2043 $2,388,119 2.00% $2,575,563 2044 3.00% $0 2044 $11,497,075 2.00% $12,156,354 2044 $2,388,119 2.00% $2,525,061 2045 3.00% $0 2045 $11,497,075 2.00% $11,917,994 2045 $2,388,119 2.00% $2,475,550 2046 3.00% $0 2046 $9,580,896 2.00% $9,736,923 2046 $1,990,099 2.00% $2,022,508 Total: $314,512,050 Total: $385,722,276 Total: $132,691,748 Total: $832,926,074 Signature: Aaron L. Szabo Date: 7/26/2011 Signature: Jo Ann Simpson Spreadsheet created by: Aaron Szabo, Shawn Harwell Date: 8/10/2011 Formulas verified by: Clayton Pittiglio