ML13098A087

Decommissioning Funding Status Report

ML13098A087
Person / Time
Site:	Millstone, Kewaunee, Surry, North Anna
Issue date:	03/28/2013
From:	Heacock D Dominion, Dominion Resources Services, Dominion Energy Kewaunee, Dominion Nuclear Connecticut, Virginia Electric & Power Co (VEPCO)
To:	Document Control Desk, Office of Nuclear Reactor Regulation
References
13-136
Download: ML13098A087 (19)

Text

Dominion Resources Services, Inc.

Inns~brook Technical Center J.

5000 Dominion Boulevard, 2SE, Glen Allen, VA 23060 March 28, 2013 United States Nuclear Regulatory Commission Serial No.13-136 Attention: Document Control Desk NL&OS/TJS RO Washington, D. C. 20555-0001 Docket Nos. 50-280, 281 50-338, 339 50-245, 336, 423 50-305 License Nos. DPR-32, 37 NPF-4, 7 DPR-21, 65 NPF-49 DPR-43 VIRGINIA ELECTRIC AND POWER COMPANY DOMINION NUCLEAR CONNECTICUT, INC.

DOMINION ENERGY KEWAUNEE, INC.

SURRY POWER STATION UNITS 1 AND 2 NORTH ANNA POWER STATION UNITS I AND 2 MILLSTONE POWER STATION UNITS 1, 2 AND 3 KEWAUNEE POWER STATION DECOMMISSIONING FUNDING STATUS REPORT Pursuant to 10 CFR 50.75(0(1) and 50.82(a)(8)(v)-(vii), Virginia Electric and Power Company (Dominion), Dominion Nuclear Connecticut, Inc. (DNC) and Dominion Energy Kewaunee, Inc. (DEK) are providing this report on the status of decommissioning funding for each of the eight nuclear power reactors referenced above. provides the following information for North Anna Power Station (NAPS) and Surry Power Station (SPS):

Table I -

NRC Minimum Financial Assurance Amount as of 12/31/2012 Table II -

Allocated Radiological Funds Held in External Trusts as of 12/31/2012 Table III-Current Annual Funding Levels - Radiological Portion Table IV-NRC Minimum Financial Assurance Summary Table provides the following information for Millstone Power Station (MPS) Units 2 and 3:

Table I -

NRC Minimum Financial Assurance Amount as of 12/31/2012 Table II -

Funds Held in External Trusts as of 12/31/2012 Table Ill-Current Annual Funding Levels Table IV-NRC Minimum Financial Assurance Summary Table

Serial No.13-136 Docket Nos. 50-280/281, 338/339, 245/336/423, 305 Page 2 of 5 provides the following information for MPS Unit 1:

Table I -

Decommissioning Funding Status Report for Millstone Unit 1 Summary Information as of 12/31/2012 Table II -

Decommissioning Funding Status Report for Millstone Unit 1 Annual Cash Flow Analysis Starting 01/01/2013 through End of Decommissioning provides the following information for Kewaunee Power Station (KPS):

Table I -

NRC Minimum Financial Assurance Amount as of 12/31/2012 Table II -

Funds Held in External Trusts as of 12/31/2012 Table III-Current Annual Funding Levels Table IV-10 CFR 50.75(f)(1) Decommissioning Funding Assurance Table V -

10 CFR 50.82(a)(8)(v)-(vi) Decommissioning Financial Assurance Table VI-10 CFR 50.82(a)(8)(vii) Irradiated Fuel Management Plan Assurance The following information is provided in support and as part of this filing:

1. Preliminary December 2012 Bureau of Labor Statistics indice values as prescribed by NUREG 1307, Rev. 15 are used because the final December 2012 indice values were not available at the time of this filing.

2. The escalation of decommissioning costs is held at 0% based on assuming 2%

Real Rate of Return.

3. The growth rate on Trust funds is held at the allowed 2% Real Rate of Return over the escalation rate.

4. No rate regulatory authority citation for SPS or NAPS is referenced because the 2% Real Rate of Return allowed by 50.75(e)(1)(ii) is used in the calculations.

MPS and KPS are merchant units.

5. There are no contracts upon which Dominion, DNC or DEK are relying under paragraph 10 CFR 50.75(e)(1)(v) and there were no modifications to the licensees' current method of providing financial assurance since the last submitted report. Dominion, DNC and DEK interpret the language of 50.75(e)(1)(v) to report only in instances where there is a contract or in instances where there is a change to the method of providing financial assurance.

6. The current annual funding amounts shown for SPS and NAPS (Attachment 1, Table Ill) reflect only those fund amounts that are dedicated to radiological decommissioning. There are no annual funding amounts for MPS or KPS.

7. Trust Fund amounts shown for each of the units in this report are market value and after-tax on realized gains and losses. The Trust Fund balances have not been adjusted for unrealized gain or loss positions not currently taxable.

8. Since the previous biennial submittal on March 29, 2011 (Serial No.11-133) for SPS, NAPS, MPS Units 2 and 3, and KPS and previous annual submittal on March 22, 2012 (Serial No.12-094) for MPS Unit 1 there have been no material changes to trust agreements established for nuclear decommissioning for any

Serial No.13-136 Docket Nos. 50-280/281, 338/339, 245/336/423, 305 Page 3 of 5 Dominion units other than a change in Trust Fund Manager. By letter to the NRC on November 6, 2012 (Serial No.12-676) Dominion, DNC and DEK provided notification of the change in Trust Fund Manager and copies of the amended and restated trust agreements.

Please contact Mr. David A. Sommers at (804) 273-2823 if you have any questions or require additional information.

Sincerely, 17LLýAý David A. Heacock President and Chief Nuclear Officer Dominion Nuclear Virginia Electric and Power Company Dominion Nuclear Connecticut, Inc.

Dominion Energy Kewaunee, Inc.

Attachments: - SPS and NAPS Decommissioning Financial Assurance - MPS Units 2 and 3 Decommissioning Financial Assurance - MPS Unit 1 Decommissioning Funding Status Report - KPS Decommissioning Financial Assurance Commitments made in this letter: None cc:

U. S. Nuclear Regulatory Commission Region I 2100 Renaissance Blvd, Suite 100 King of Prussia, PA 19406-2713 U. S. Nuclear Regulatory Commission Region II Marquis One Tower 245 Peachtree Center Ave, NE Suite 1200 Atlanta, GA 30303-1257 U. S. Nuclear Regulatory Commission Region III 2443 Warrenville Road, Suite 210 Lisle, IL 60532-4352

Serial No.13-136 Docket Nos. 50-280/281, 338/339, 245/336/423, 305 Page 4 of 5 NRC Senior Resident Inspector Surry Power Station NRC Senior Resident Inspector North Anna Power Station NRC Senior Resident Inspector (Units 2 and 3)

Millstone Power Station Ms. L. A. Kaufman (Millstone Power Station Unit 1)

U. S. Nuclear Regulatory Commission, Region I 2100 Renaissance Blvd, Suite 100 King of Prussia, PA 19406-1415 NRC Senior Resident Inspector Kewaunee Power Station Mr. J. S. Kim NRC Project Manager (MPS Units 2 & 3)

U. S. Nuclear Regulatory Commission One White Flint North 11555 Rockville Pike Mail Stop 08 B-3 Rockville, MD 20852-2738 Mr. S. J. Giebel NRC Project Manager (MPS Unit 1)

U. S. Nuclear Regulatory Commission Two White Flint North Mail Stop T-8 F5 11545 Rockville Pike Rockville, MD 20852-2738 Dr. V. Sreenivas NRC Project Manager (NAPS and SPS)

U. S. Nuclear Regulatory Commission, Mail Stop 08 G-9A One White Flint North 11555 Rockville Pike Rockville, MD 20852-2738 Ms. K. R. Cotton NRC Project Manager (NAPS and SPS)

U. S. Nuclear Regulatory Commission, Mail Stop 08 G-9A One White Flint North 11555 Rockville Pike Rockville, MD 20852-2738

Serial No.13-136 Docket Nos. 50-280/281, 338/339, 245/336/423, 305 Page 5 of 5 Mr. K. D. Feintuch NRC Project Manager (KPS)

U. S. Nuclear Regulatory Commission, Mail Stop 08 D-1 5 One White Flint North 11555 Rockville Pike Rockville, MD 20852-2738 Mr. J. E. Reasor, Jr.

Old Dominion Electric Cooperative Innsbrook Corporate Center 4201 Dominion Blvd.

Suite 300 Glen Allen, VA 23060 Mr. Edward Kaczinski Massachusetts Municipal Wholesale Electric Co.

Moody Street, P. 0. Box 426 Ludlow, MA 01056 Stephen W. Page Manager, Energy Administration Green Mountain Power Corporation 77 Grove Street Rutland, Vermont 05701

Attachment I Nuclear Decommissioning Financial Assurance as of 12/31/2012 Surry Power Station Units 1 and 2 North Anna Power Station Units 1 and 2 Virginia Electric and Power Company (Dominion)

Serial No.13-136 VIRGINIA ELECTRIC AND POWER COMPANY Nuclear Decommissioning Financial Assurance as of 12/3112012 VIRGINIA ELECTRIC AND POWER COMPANY Nuclear Decommissioning Financial Assurance as of 12/31/2012 Table I:

NRC Minimum Financial Assurance Amount as of 1213112012 10 CFR 50.75 (q(1)

(Millions of Dollars)

(see Note 5)

(see Note 5)

(see Notes 1&5) (see Notes 1&5)

Surry Surry North Anna North Anna Customer Unit 1 Unit 2 Unit 1 Unit 2 Total Classification (see Note 6)

DPR-32 DPR-37 NPF-4 NPF-7 All Units Virginia State Corporation Commission (VSCC) 388.77 388.77 358.04 358.04 $

1,493.62 Company Contribution North Carolina Utilities Commission 23.00 $

23.00 21.18 21.18 $

88.36 Federal Energy Regulatory Commission 10.38 10.38 9.56 9.56 $

39.87 Virginia Retail (not under VSCC jurisdiction) 54.22 54.22 49.94 49.94 $

208.32 Unallocated

$33.6 3.3 S

15.1 Total 480.3 $

480.3 442.3 442.3 1,845.3 Table II:

Allocated Radiological Funds Held In External Trusts as of 1213112012 10 CFR 50.75 ()(1)

(Milions of Doltars)

(see Note 2)

(see Note 2)

(see Notes 1 & 2) (see Notes 1 & 2)

Surry Surry North Anna North Anna Customer Unit 1 Unit 2 Unit 1 Unit 2 Total Classification (see Note 6)

DPR-32 DPR-37 NPF-4 NPF-7 All Units Virginia State Corporation Commission (VSCC) 244.3 238.2 200.3 190.2 873.0 Company Contribution 2.4 2.7 0.8 0.7 6.7 North Carolina Utilites Commission 14.9 16.9 15.4 14.6 $

61.9 Federal Energy Regulatory Commission 12.5 13.9 4.0 3.8 34.2 Virginia Retail(notunderVSCCjursdiction) 36.1 39.4 33.2 31.1 139.7 Unallocatad S

$L Total 310.2 311.1 253.8 240.4 1,115.4 Table Ill:

Current Annual Funding Levels-Radiological Portion 10 CFR 50.75 (0(1)

(Millions of Dollars)

(see Note 1 )

(see Note 1)

Surry Surry North Anna North Anna Customer Unit 1 Unit 2 Unit I Unit 2 Total Classification DPR-32 DPR-37 NPF-4 NPF-7 All Units Virginia State Corporation Commission (VSCC)

Company Contibution 0.1 0.1 0.1 0.1 0.5 North Carolina Utilities Commission Federal Energy Regulatory Commission 0.3 0.3 0.1 0.1 0.9 Virginia Retail (not under VSCC jurisdiction)

Unallocated Total 0.4 0.5 0.3 0.3 1.4 Page 1 of 2

Serial No.13-136 VIRGINIA ELECTRIC AND POWER COMPANY Nuclear Decommissioning Financial Assurance as of 12/3112012 VIRGINIA ELECTRIC AND POWER COMPANY Nuclear Decommissioning Financial Assurance as of 12/31/2012 Table IV:

NRC Minimum Financial Assurance Summary Table 10 CFR 50.75 (f)(1)

(Mill*ons of Dolars - e~cept percentages and years)

(see Note 5)

(see Note 5)

(see Notes 1&5) (see Notes 1&5)

Suny Surry North Anna North Anna Unit I Unit 2 Unit I Unit 2 Total DPR-32 DPR-37 NPF-4 NPF-7 All Units External External External External Method for Providing Financial Assurance Sinking Fund Sinldng Fund Sinking Fund Sinking Fund NRC Minimum Amounts as of 12/31/2012 480.3 480.3 442.3 442.3 1,845.3 Funds in External Trusts as of 12/31/2012 428.9 422.3 342.0 321.5 $

1,514.8 Allocated Radiological Funds in External Trusts as of 12/31/2012 310.2 311.1 253.8 240.4 $

1,115.4 (See Note 2 )

Allocated Radiological Funds in External Trusts as of 12131/2012 Minus NRC Minimum Amount as of 12/31/2012 (170.2) $

(169.3) $

(188.6) $

(201.9) $

(729.9)

(See Notes 2 & 3)

Projected Annual Escalation Factors 0.00%

0.00%

0.00%

0.00%

Annual Trust Funds Earnings Rate (After Tax & Fees - assumes 2% Real Rate of Return) 2.00%

2.00%

2.00%/s 2.00O/%

Year That Operatng License Expires (Reflects License Renewal for Surry and North Anna) 2032 2033 2038 2040 NRC Minimum Financial Assurance Amount 3.5yearsrafterstartofDecommissioning 480.3 480.3 442.3 442.3 $

1,845.3 Est*matsd Radiological Funds in External Trusts 3.5 years after start of Decommissioning 500.7 510.2 458.8 455.8 1,925.5 (See Note 2)

Allocated Radiological Funds in excess or (underfunded) to NRC Minimum 3.5yearsafterstartofDecommissioning 20.4 29.9 16.4 13.4 80.2 (See Notes 2.3 & 4)

Estimated Radiological Funds in excess or (underfunded) to NRC Minimum Discounted to 12/31/2008 Dollars 12.7 18.4 9.3 7.2 $

47.6 (See Note 4 & 5)

Notes: Tables I through IV (Any minor differences in totals are due to rounding)

1) The North Anna Power Station is jointly owned by Virginia Electric and Power Company (88.4%) and Old Dominion Electric Cooperative 11.6%. However, Virginia Electric and Power Company is responsible for 89.26% of the Decommissioning obligation. The amounts stated in the above tables reflect only that portion of the Decommissioning obligation attributable to Virginia Electric and Power Company.

2)

The Allocated Radiological Fund amounts shown exclude amounts designated for the future Decommissioning of the Independent Spent Fuel Storage Installations (ISFSIs), spent fuel management, and non-radiological decommissioning.

3)

Negative amounts indicate that the Trust fund values are less than the value of the NRC Minimum for the period indicated.

4) The Future Value calculation for Surry and North Anna reflects a 2% Real Rate of Return applied from 01/01/2013 to 3.5 years after start of Decommissioning assuming a 0%

Escalation Rate.

5) Adjustment Factors used in calculating NRC Minimum Values are based on preliminary December 2012 BLS Producer Price Indices, as final December 2012 indices were not available at the time of the calculation.

6) The allocation among customer classifications in Tables I and II is based on 2011 allocation percentages as the 2012 allocations have not yet been finalized.

Page 2 of 2 Nuclear Decommissioninq Financial Assurance as of 12/31/2012 Millstone Power Station Units 2 and 3 Dominion Nuclear Connecticut, Inc. (DNC)

Serial No.13-136 DOMINION NUCLEAR CONNECTICUT, INC.

Nuclear Decommissioning Financial Assurance as of 12/3112012 Doninion Nuclear Connecticut, Inc.

Nuclear Decommissioning Financial Assurance as of 12/31/2012 Table I:

NRC Minimum Financial Assurance Amount as of 12/3112012 10 CFR 50.75 (f)(1)

(Millions of Dollars)

(See Note 5)

(See Note 6)

(See Notes 1&6)

MPS MPS MPS Unit I Unit 2 Unit 3 Total U3 Ownership DPR-21 DPR-65 NPF-49 U2 & U3 Ownership %

Dominion Nuclear Connecticut Inc.

n/a 498.9 495.8 994.8 93.47%

Green Mountain PowerCorporation n/a n/a $

9.2 $

9.2 1.73%

Massachusetts Municipal WEC n/a n/a $

25.5 $

25.5 4.80%

Total n/a 498.9 530.5 1,029.4 100.00%

Table I:

Funds Held in External Trusts as of 12/31/2012 10 CFR 50.75 (1)(1)

(Millions of Dollars)

(See Note 5)

(See Note 1)'

MPS MPS MPS Unit I Unit 2 Unit 3 Total U3 Ownership DPR-21 DPR-65 NPF-49 U2 & U3 Ownership %

Dominion Nuclear Connecticut Inc.

n/a 443.6 $

436.6 $

880.2 93.47%

Green Mountain Power Corporation n/a n/a $

6.7 $

6.7 1.73%

Massachusetts Municipal WEC n/a nia $

22.1 22.1 4.801/6 Total (see Note 2) na 443.6 465.5 $

909.1 100.00%

Table III:

Current Annual Funding Levels 10 CFR 50.75 ([Q(1)

(Millions of Dollars)

(See Note 5)

(See Note 1)

MPS MPS MPS Unit I Unit 2 Unit 3 Total U3 Ownership DPR-21 DPR-65 NPF-49 U2 & U3 Ownership %

Dominion Nuclear Connecticut Inc.

n/a 93.47%

Green Mountain Power Corporation n/a 1.73%

Massachusetts Municipal WEC n/a 4.80/6 Total nWa 100.00%

Page 1 of 2

Serial No.13-136 DOMINION NUCLEAR CONNECTICUT, INC.

Nuclear Decommissioning Financial Assurance as of 12/3112012 Doninion Nuclear Connecticut, Inc.

Nuclear Decommissioning Financial Assurance as of 12/3112012 Table IV:

NRC Minimum Financial Assurance Summary Table 10 CFR 50.75 (f)(1)

(Millions of Dollars -except percentage and years)

(See Note 5)

(See Note 6)

(See Notes 1 &6)

MPS MPS MPS Unit 1 Unit 2 Unit 3 Total DPR-21 DPR-65 NPF-49 U2 & U3 Meti*od for Providing Financial Assurance n/a Pre-payment Pre-payment NRC Minimum Amounts as of 12/31/2012 n/a 498.9 $

530.5 1,029.4 Funds in External Trusts as of 12/31/2012 (See Note 2) n/a 443.6 465.5 909.1 Funds in External Trusts as of 12/31/2012 Minus NRC Minimum Amounts as of 12/31/2012 (See Notes 2 & 3) n/a (55.4) $

(65.0) $

(120.4)

Projected Annual Escalation Factor n/a 0.00%

0.00%

Annual Trust Funds Earnings Rate (After Tax& Fees -assumes 2% Real Rate of Return) n/a 2.00%

2.00%

Year That Operating License Expires Retired (Reflects License Renewal for Unit 2 and Unit 3) 1998 2035 2045 NRC Minimum Financial Assurance Amount 3.5 years after startof Decommissioning n/a 498.9 $

530.5 1,029.4 Estimated Funds in External Trusts 3.5 Years after start of Decommissioning n/a 743.5 957.4 1,701.0 (See Note 2)

Estimated Funds in excess or (underfunded) to NRC Minimum 3.5 years after start of Decommissioning n/a 244.6 427.0 $

671.5 (See Notes 3 & 4)

Notes: Tables I through IV (Any minor differences in totals are due to rounding)

1. Millstone Unit 3 is jointly owned by Dominion Nuclear Connecticut, Inc.(93.4707%), Green Mountain Power Corporation (1.7303%) and Massachusetts Municipal WEC (4.7990%)

2.

The External Trust Funds shown reflect the total amount of funds in the Trusts including U3 Minority Owners, all of which are available for Radiological Decommissioning.

3.

Negative amounts indicate that the value of Trust funds are less than the value of the NRC Minimum for the period indicated.

4. The Future Value calculation for Millstone U2 and U3 reflects 2% Real Rate of Return applied 01/01/2013 to 3.5 years after start of Decommissioning assuming a 0.00% Esc Rate.

5.

The MPS Unit 1 Decommissioning Funding Worksheet is shown as a separate attachment.

6. Adjustment Factors used in calculating NRC Minimum Values is based on preliminary December 2012 Preliminary BLS Producer Price Indexes, as final December 2012 indexes were not available at time of calculation.

Page 2 of 2 Decommissioning Funding Status Millstone Power Station Unit 1 Dominion Nuclear Connecticut, Inc. (DNC)

Serial No.13-136 DOMINION NUCLEAR CONNECTICUT. INC.

Decommissioning Funding Status Report for Millstone Unit I Annual Earnings and Expenditures Table I (see notes I and 2)

Decommissioning Funding Status Report for Millstone Unit 1 Summary Information 10 CFR 50.82 (a)(8)(v)-(vli)

(In millions)

Previous Decommissioning Expenditures 4.491 Dominion ownership previous year 2012 lAmount in:

2012 Dollars 63.409 [Dominion ownership previous years 2001 through 2011 Amount in:

as spent dollars 67.899 JTotal previous decommissioning expenditures IAmount in:

as spent dollars

[Remaining Decommissioninl Projected Cost Total License Termination Spent Fuel Mgmt Site Restoration 454.747 356.771 66.923 31.053 Estimate in:

01/01/2013 Dollars DecommlssionlnQ Trust Fund Balances 355.597 Unit 1 qualified fund balance

[As of:

12/31/2012

- Unit 1 non-qualified fund balance As of:

12/31/2012 355.597 ITotal decommissioning fund balance As of:

12/31/2012 Other Financial Assurance Methods Being Relied Upon None I

Need For Additional Funding None ISee Annual Cash Flow Analysis in Table II Any Modifications To Licensee's Method of Providing Financial Assurance Since Previous Report None I

Any Material Changes To Trust Agreement Since Previous Report On November 6, 2012 (Serial No.12-676) Dominion provided notice of the change in Trust Fund Manager and copies of the amended and restated Trust Agreements.

Inputs 2013 Start year of analysis 0.00%

Escalation rate (2013 & beyond) 2.00%

Fund growth rate (2013 & beyond - Reflects NRC allowed 2% Real Rate of Return)

Annual eapenditures Projected annual expenditures - see Annual Cash Flow Annalyis in Table II Notes: Table I

1) Previous decommissioning expenditures represent the withdrawals from the nuclear decommissioning trusts made by Dominion Nuclear Connecticut, Inc. These expenditures do not include the withdrawals made by the former owners of Millstone Unit 1.

2) These expenditures include withdrawals for irradiated fuel management, consistent with DNC's previous notices to the NRC, as well as allowed ordinary administrative costs.

Page 1 of 3

Serial No.13-136 Table II Decommissioning Funding Status Report for Millstone Unit 1 Annual Cash Flow Analysis starting 01101/2013 through End of Decommissioning (in millions)

Colum_ I Cl Column Column Column Colum S Comn Column Beginning Earnings Remaining Remaining Remaining Remaining End Remaining of on Ucense Spent Site Total of Unit I Decom Year Trust Funds Ternination Fuel Mgt Restoration Expenditures Year Expenditures Year Balance (Reflects 2% RRoR)

(Reflects 0% Esc)

(Reflects 0% Esc)

(Reflects 0% Esc)

(Reflects 0% Esc)

Balance in 2013 $

2013 355.597 7.063 1.440 3.437 4.877 357.784 4.877 2014 357.784 7.109 1.440 3.184 4.624 360.269 4.624 2015 360.269 7.140 2.072 4.449 6.522 360.888 6.522 2016 360.888 7.169 1.440 3.412 4.852 363.205 4.852 2017 363.205 7.204 1.440 4.547 5.986 364.423 5.986 2018 364.423 7.217 1.440 5.686 7.126 364.514 7.126 2019 364.514 7.233 1.440 4.306 5.746 366.001 5.746 2020 366.001 7.261 1.440 4.423 5.863 367.400 5.863 2021 367.400 7.291 1.440 4.246 5.686 369.006 5.686 2022 369.006 7.327 1.440 3.851 5.291 371.042 5.291 2023 371.042 7.370 1.440 3.606 5.046 373.366 5.046 2024 373.366 7.417 1.440 3.630 5.069 375.714 5.069 2025 375.714 7.400 6.753 4.702 11.455 371.658 11.455 2026 371.658 7.369 1.440 5.013 6.453 372.573 6.453 2027 372.573 7.394 1.440 4.265 5.705 374.262 5.705 2028 374.262 7.359 8.502 4.167 12.669 368.952 12.669 2029 368.952 7.350 2.865 2.865 373.438 2.865 2030 373.438 7.455 1.328 1.328 379.565 1.328 2031 379.565 7.578 1.328 1.328 385.816 1.328 2032 385.816 7.703 1.328 1.328 392.191 1.328 2033 392.191 7.831 1.328 1.328 398.694 1.328 2034 398.694 7.961 1.328 1.328 405.327 1.328 2035 405.327 8.093 1.328 1.328 412.093 1.328 2036 412.093 8.229 1.328 1.328 418.994 1.328 2037 418.994 8.367 1.328 1.328 426.033 1.328 2038 426.033 8.507 1.328 1.328 433.213 1.328 2039 433.213 8.651 1.328 1.328 440.536 1.328 2040 440.536 8.797 1.328 1.328 448.006 1.328 2041 448.006 8.947 1.328 1.328 455.625 1.328 2042 455.625 9.099 1.328 1.328 463.397 1.328 2043 463.397 9.248 2.038 2.038 470.606 2.038 2044 470.606 9.360 5.186 5.186 474.781 5.186 2045 474.781 9.440 5.602 5.602 478.618 5.602 2046 478.618 9.559 1.328 1.328 486.850 1.328 2047 486.850 9.724 1.328 1.328 495.246 1.328 2048 495.246 9.892 1.328 1.328 503.810 1.328 2049 503.810 10.063 1.328 1.328 512.545 1.328 2050 512.545 10.184 6.680 6.680 516.050 6.680 2051 516.050 9.501 82.039 82.039 443.511 82.039 2052 443.511 7.682 117.077 1.724 118.801 332.392 118.801 2053 332.392 6.094 49.060 6.322 55.382 283.105 55.382 2054 283.105 5.228 25.343 18.110 43.452 244.880 43.452 2055 244.880 4.853 2.266 2.175 4.441 245.293 4.441 2056 245.293 4.882 2.390 2.390 247.784 2.390 2057 247.784 4.952 0.333 0.3330.5

.1 0.333 Remaining U1 expenditures (In 2013 S)

Estimated Fund Balance - end of Decornrrssioning (in Future $ escalated at 0.0% & 2.0%/ Real Rate of Return Fund Growth Rate)

Estimated Fund Balance - end of Decornissioning (Discounted to 2013 $)

I Discount Rate = 2.00%

Page 2 of 3

Serial No.13-136 DOMINION NUCLEAR CONNECTICUT. INC.

Decommissioning Funding Status Report for Millstone UI Annual Cash Flow Analysis - Table II Definitions Table II Definitions:

Column 1:

Beginning of Year Balance:

Reflects the annual beginning of the year Trust Fund balance.

Column 2:

Earnings on Trust Funds:

Reflects annual earnings on funds remaining in the trust. A 2.0% Real Rate of Return (RRoR) Fund growth rate is used for 2013 through 2057. The annual 2.0% RRoR earnings are calculated on the beginning balance plus 50% of the projected annual expenditure for each year.

Column 3:

Total License Termination Expenditures:

Reflects the annual cash flows of the License Termination portion of the Site Specific cost estimate in 2013 dollars at a 0% Escalation Rate.

Column 4:

Total Spent Fuel Management Expenditures:

Reflects the annual cash flows of the Irradiated Fuel Management Plan portion of the Site Specific cost estimate in 2013 dollars at a 0% Escalation Rate.

Column 5:

Total Site Restoration Expenditures:

Reflects the annual cash flows of the Site Restoration portion of the Site Specific cost estimate in 2013 dollars at a 0% Escalation Rate.

Column 6:

Total SAFSTOR Expenditures:

Reflects the annual cash flows of the Total Site Specific cost estimate in 2013 dollars at a 0% Escalation Rate.

Column 7:

End of Year Balance:

Reflects the annual end of year Trust Fund Balance after projected earnings are added and projected expenditures are deducted for that year.

Column 8:

Remaining Unit I Decommissioning Expenditures:

Reflects the total of License Termination, Spent Fuel Management, and Site Restoration remaining expenditures from the Site Specific Cost Estimate in 2013 dollars.

Page 3 of 3 Nuclear Decommissioning Financial Assurance as of 12/31/2012 Kewaunee Power Station Dominion Energy Kewaunee, Inc. (DEK)

Serial No.13-136 DOMINION ENERGY KEWAUNEE, INC.

Nuclear Decommissioning Financial Assurance as of 12/3112012 By letter dated February 25, 2013 (Serial No.13-107), DEK notified NRC of its intention to permanently cease power operations at KPS on May 7, 2013. Because DEK has submitted its site specific decommissioning cost estimate pursuant 10 CFR 50.82(a)(4)(i) with the Post Shutdown Decommissioning Activities Report (Serial No.13-064), this report addresses the information required by both 10 CFR 50.75(f)(1) and 50.82(a)(8)(v)-(vii).

Dominion Energy Kewaunee Kewaunee Power Station Nuclear Decommissioning Financial Assurance as of 12/3112012 Table I:

NRC Minimum Financial Assurance Amount as of 1213112012 10 CFR 50.75 (1)(1)

(Millions of Dollars)

Kewaunee Total Ownership DPR-43 Kewaunee Dominion Energy Kewaunee (See Note 1) 449.7 449.7 Total 449.7 449.7 Table II:

Funds Held In External Trusts as of 12/31/2012 10 CFR 50.75 (t(1)

(Millions of Dollars)

Kewaunee Total Ownership DPR-43 Kewaunee Dominion Energy Kewaunee 578.6 578.6 Total 578.6 578.6 Table III:

Current Annual Funding Levels 10 CFR 50.75 (f)(1)

(Millions of Dollars)

Kewaunee Total Ownership DPR-43 Kewaunee Dominion Energy Kewaunee Total Page 1 of 3

Serial No.13-136 DOMINION ENERGY KEWAUNEE, INC.

Nuclear Decommissioning Financial Assurance as of 12/31/2012 Table IV Dominion Energy Kewaunee 10 CFR 50.75 (f)(1)

Nuclear Decommissioning Financial Assurance as of 12/31/2012 (in millions) heNRC minimum decommissioning estimate, pursuant to 10 CFR 50.75 (b) and ( c )(see Note 2)

I h 449.71

[The Site Specific radiological decommissioning cost estimate (See Note 3)

[T$e542.81 The amount accumulated at the end of the year preceding the date of the report for Items incl In 10 CFR 50.75 (b) & (c) (see Note 4) 578.6 Unit 1 qualified fund balance lAs of:

12/31/2012

_ Unit 1 non-qualified fund balance As of:

12/31/2012 578.6 Total decommissioning fund balance As of:

12/31/2012 FSchedule of annual amounts remaining to be collected (allocable to radiological decommissioning) lNone alcbe railicldcmisoig1 The assumptions used regarding:

0.00%

Estimated escalation rate for decommissioning coats 2.00%

Rate of earning on decommissioning funds (See Note 5)

None Rates of other factors used in funding projections An contracts upon which licensee Is relying pursuant to 10 CFR 50.75(e)(1)(v)

None I

Any Modifications To Licensee's Method of Providing Financial Assurance Since Previous Report None (see Note 6e i

[Any Material Changes To Trust Agreement Since Previous Report On November 6, 2012 (Senal No.12-676) Dominion provided notice of the change in Trust Fund Manager and copies of the amended and restated Trust Agreements.

Table V Dominion Energy Kewaunee 10 CFR 50.82 (a)(8)(v)-(vi) (See Note 7)

Nuclear Decommissioning Financial Assurance as of 12/3112012 (in milions)

Pireviousdecommissioning expenditures (withdrawals from Nuclear Decommissioning Trust)

Previous year 2012 lAnount in:

I n/a Previous years through 2011 Amount in:

n/a Total previous decomnissioning expenditures Amount in:

n/a Rmiigbalance of decommissioning trust funds emaining 578.6 Unit qualified fund balane As of 12/31/2012 58-Unit 1 non-qualified fund balance IAs of:

112/31/2012 578.6 Total decommissioning fund balance As of:

12/31/2012 FOther financial assurance methods being relied upon None (See Note 8)

Estimated of cost to complete decommissioning EnergySolutions Decommnissioning Cost Asalysis Ttl License Spent Fuel Site Restoration Dated 02/7/01 1

'Termiation Mm IIEstimatein I 919.9 542.8 342.2 34.8 2012 Dollars (Need For Additional Financial Assurance INone Page 2 of 3

Serial No.13-136 DOMINION ENERGY KEWAUNEE, INC.

Nuclear Decommissioning Financial Assurance as of 12/31/2012 Table VI Dominion Energy Kewaunee 10 CFR 50.82 (a)(8)(vil)

Irradiated Fuel Management Plan Assurance as of 1213112012 (in millions)

The amount of funds accumulated to cover the cost of managing the irradiated fuel A cash flow analysis provided in the Updated Irradiated Fuel Management Plan pursuant to 10 CFR 50.54(bb) submitted by letter dated February 26, 2013 shows that the funds accumulated in the Trust are sufficient, with credited earnings at a 2% real rate of return, to cover the estimated cost of radiological decommissioning, irradiated fuel mangement and site restoration. Approval to use the Trust for this purpose has not yet been obtained.

IThe projected cost of managing irradiated fuel 3

1$342.2 I(seeoo e,.)

IArnount in:

12012 Dollars I

Plan to obtain additional funding The plan for providing funding for irradiated fuel mangement is provided in the Updated Irradiated Fuel Management Plan pursuant to 10 CFR 50.54(bb), submitted on February 26, 2013.

Notes: Tables I through VI

1) Adjustment factors used in calculating the NRC Minimum decommissioning cost estimate use preliminary December 2012 BLS Producer Price indices, as final December 2012 indices were not available at the time of calculation.

2) This Site Specific cost estimate was provided in the Kewaunee Power Station, Post-Shutdown Decommissioning Activities Report (Serial No.13-064) submitted by letter dated February 26, 2013.

3) Market value on December 31, 2012, net of taxes on realized gains and losses.

4) The 2% Real Rate of Return is based on the rate allowed by 10 CFR 50.75(e)(1)(i) and 10 CFR 50.82(a)(8)(vi) and not on any order of rate setting authority.

5)

The estimated cost of decommissioning Kewaunee remains prepayment.

DEK has submitted a cash flow analysis, provided in its Updated Irradiated Fuel Management Plan Pursuant to 10 CFR 50.54(bb) submitted by letter dated February 26, 2013 (Serial No.13-075), showing that the amounts accumulated in the Trust are sufficient, with credited earnings at a 2% Real Rate of Return, to cover the estimated cost of radiological decommissioning, irradiated fuel management and site restoration.

6)

Items already addressed under 10 CFR 50.75(f)(1) are not repeated.

7)

DEK has in place a Parent Support Agreement in the amount of $60 million for the purposes of supplementing DEK in the event; 1) of an operational outage lasting six months or more, or 2) for decommissioning of the plant. The Parent Support agreement will remain in place and provides additional financial assurance for decommissioning and irradiated fuel management.

8) This estimate is included in the cost study provided as Attachment 1 to the Post Shutdown Decommissioning Activities Report filed on February 26, 2013 (Serial No.13-064).

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