ML14099A108
| ML14099A108 | |
| Person / Time | |
|---|---|
| Site: | Calvert Cliffs, Nine Mile Point, Ginna  |
| Issue date: | 03/26/2014 |
| From: | Mormann S Constellation Energy Nuclear Group |
| To: | Document Control Desk, Office of Nuclear Material Safety and Safeguards |
| References | |
| Download: ML14099A108 (30) | |
Text
Stephen A. Mormann VP - Financial Services & Treasurer Constellation Energy Nuclear Group, LLC 100 Constellation Way Suite 200C Baltimore, MD 21202 (410) 470-4809 CENG.
a joint venture of Os gv
-"-eDF 10 CFR 50.75 March 26, 2014 U. S. Nuclear Regulatory Commission Washington, DC 20555 ATTENTION:
SUBJECT:
REFERENCES:
Document Control Desk Calvert Cliffs Nuclear Power Plant Unit Nos. 1 & 2; Docket Nos. 50-317 & 50-318 Calvert Cliffs Independent Spent Fuel Storage Installation Materials License No. SNM-2505; Docket No. 72-8 Nine Mile Point Nuclear Station Unit Nos. 1 & 2; Docket Nos. 50-220 & 50-410 R.E. Ginna Nuclear Power Plant Docket No. 50-244 2014 Decommissioning Funding Status Report (a)
Letter from D. E. Lauver (CCNPP) to Document Control Desk (NRC),
Submittal of Site-Specific SAFSTOR Decommissioning Cost Estimates, dated March 22, 2011 (ML110830680)
(b)
Letter from H. B. Barron (CENG) to Document Control Desk (NRC), Submittal of Site-Specific SAFSTOR Decommissioning Cost Estimates, dated November 20, 2009 (ML093340088)
(c)
Letter from S. A. Mormann (CENG) to Document Control Desk (NRC), ISFSI Decommissioning Funding Plans, dated December 17, 2012 (ML123550040)
(d)
Letter from M. G. Korsnick (CENG) to Document Control Desk (NRC),
Application for Order Approving Transfer of Operating Authority and Conforming License Amendments, dated August 6, 2013 (ML13232A156 and ML13232A157)
(e)
Letter from M. G. Korsnick (CENG) to Document Control Desk (NRC),
License Amendment Supplement to Application for Order Approving Transfer of Operating Authority, dated September 23, 2013 (ML13269A131)
(f)
Letter from S. A. Mormann (CENG) to Document Control Desk (NRC), 2013 Decormmissioning Funding Status
- Report, dated March 27, 2013 (ML13098A084)
Aoo(
Document Control Desk March 26, 2014 Page 2 Pursuant to the requirements of Title 10 Code of Federal Regulations (CFR) 50.75(f)(1), this letter forwards the 2014 Decommissioning Funding Status Report (which reports the funding status as of December 31, 2013) on the status of decommissioning funding for Calvert Cliffs Nuclear Power Plant (CCNPP), R.E, Ginna Nuclear Power Plant (Ginna), and Nine Mile Point Nuclear Station (NMPNS)
(collectively, the Facilities). Ginna, CCNPP, and NMPNS Unit 1 (NMP I) are wholly owned subsidiaries of Constellation Energy Nuclear Group, LLC (CENG). Nine Mile Point Nuclear Station Unit 2 (NMP2) is co-owned 82% by a wholly owned subsidiary of CENG and 18% by Long Island Power Authority (LIPA). The information provided in this letter for NMP2 includes summary statements provided and verified by LIPA.
Title 10 CFR 50.75(f)(1) requires that each power reactor licensee report, on a calendar-year basis, to the U.S. Nuclear Regulatory Commission (NRC) at least once every two years (or annually for plants involved in a merger or acquisition) on the status of its decommissioning funding for each reactor or part of a reactor that it owns. As of December 31, 2013, Exelon Corporation (Exelon), through its 100%
ownership of Exelon Generation Company, LLC (ExGen), was the ultimate owner of 50.01% of CENG.
As stated in References (d) and (e), Exelon, ExGen, Electricit6 de France, S.A. (EDF), and CENG were involved in a pending transaction on December 31, 2013, whereby upon the completion of the transaction, the operating authority under the NRC licenses for the Facilities will transfer to ExGen. This letter and the associated attachments satisfy the requirement for annual reporting of the status of decommissioning liability and funding during the period of such pending transaction.
Our approach and structure of this letter and the associated attachments is consistent with our 2013 report submitted in Reference (f).
The information required by 10 CFR 50.75(f)(1) is provided in Attachment (1), which contains a table and explanatory notes for each site, with the NRC Minimum amounts calculated based upon the labor, energy, and burial cost escalation factor guidelines in NUREG-1307, Revision 15, issued in January 2013.
Financial assurance for radiological decommissioning to allow for license termination for each unit is demonstrated by the use of site-specific nuclear decommissioning cost studies in lieu of the NRC Minimum amounts. Reference (a) contains the nuclear decommissioning cost study for CCNPP. Reference (b) contains the nuclear decommissioning cost studies for NMPNS and Ginna. Each of these nuclear decommissioning cost studies (collectively, the Cost Studies) presents decommissioning cost estimates (DCEs) under an immediate decontamination (prompt DECON) Scenario 1 and a delayed DECON (SAFSTOR) Scenario 3.
The Cost Studies are in 2009 dollars. The DCEs are escalated from 2009 dollars to December 31, 2013 dollars based on the rates of increase in the NRC Minimum amounts for the respective units from December 31, 2008 to December 31, 2013. That period approximates the period from the Cost Studies, which reflect 2009 dollars, to December 31, 2013. Attachment (5) calculates the rates of increase in the NRC Minimum during that period, and it includes the calculation of the NRC Minimum amount for each unit as of December 31, 2008 using the unit's total megawatt thermal rating as of December 31, 2013.
Title 10 CFR 50.75(b)(1) requires that the DCEs be greater than the NRC Minimum amounts if they are to be relied on for decommissioning funding assurance. The NRC Minimum amounts as of December 31, 2013 are calculated in Attachment (2). As shown in Attachment (3), the DCEs based on the Scenario 1 prompt DECON assumptions in the Cost Studies, with the DCEs escalated to December 31, 2013 dollars, are greater than the NRC Minimum amounts.
The demonstration of financial assurance for the radiological decommissioning of each unit is based on the Scenario 3 SAFSTOR assumptions in the Cost Studies, with costs escalated to December 31, 2013 dollars. Attachment (4) presents the annual escalated DCEs, the annual earnings at an assumed 2% real rate of return on the funds, and the annual fund balances available to provide for the radiological
Document Control Desk March 26, 2014 Page 3 decommissioning of the units following a period of SAFSTOR, pursuant to 10 CFR 50.75(c) and (e). The positive balances of the trust funds throughout the decommissioning periods confirm adequate financial assurance for each of the units because the respective nuclear decommissioning trust funds are sufficient to provide for the radiological decommissioning of the units.
The amounts accumulated as of December 31, 2013 in the external decommissioning trusts include not only funds for the radiological decommissioning of the units, but also funds allocated (the Allocated ISFSI Amounts) for the radiological decommissioning of the Facilities' independent spent fuel storage installations (ISFSIs).
Pursuant to 10 CFR 50.75 (b) and (c), only the funds for the radiological decommissioning of the units (and not any of the Allocated ISFSI Amounts) are included in the amounts used in the demonstration of financial assurance in Attachment (4). For consistency in approach and presentation with the ISFSI decommissioning funding plan submitted in Reference (c), the Allocated ISFSI Amounts are presented in separate ISFSI columns within Attachment (4). The Allocated ISFSI Amounts as of December 31, 2013 are the present values of funds necessary to provide for the radiological decommissioning of the ISFSIs and are based on Scenario 3 of the Cost Studies.
The DCEs and funding measures described herein are presented solely to demonstrate the adequacy of radiological decommissioning financial assurance under NRC regulations.
This information is not intended to be used in any other context (see 10 CFR 50.75(a)).
Also, a final determination of the ultimate decommissioning approach for each of the units has not been made. Different decommissioning options, with different costs and schedules, which also meet the requirements under 10 CFR 50.75, may be chosen in the future.
There are no new regulatory commitments contained in this letter.
Should you have questions regarding the information in this submittal, please contact Bruce Montgomery, Manager - Nuclear Safety and Security, at (410) 470-3777.
Very truly yours, Stephen A. Mormann SAM/EMT Attachments:
(1) Summary of Funding Status as of December 31, 2013 (2) NRC Minimum Calculations as of December 31, 2013 (3) Comparison of Site-Specific Decommissioning Cost Estimates to NRC Minimum Amounts as of December 31, 2013 (4) Funding and Financial Assurance Analysis as of December 31, 2013 (5) Cost Escalations from Site-Specific Decommissioning Cost Estimates to December 31, 2013 Dollars cc:
NRC Project Manager, Calvert Cliffs NRC Project Manager, Ginna NRC Project Manager, Nine Mile Point Regional Administrator, NRC Region I Resident Inspector, Calvert Cliffs Resident Inspector, Ginna Resident Inspector, Nine Mile Point S. Gray, DNR
ATTACHMENT (1)
SUMMARY
OF FUNDING STATUS AS OF DECEMBER 31, 2013 Constellation Energy Nuclear Group, LLC March 26, 2014
ATTACHMENT (1)
SUMMARY
OF FUNDING STATUS AS OF DECEMBER 31, 2013 Calvert Cliffs Nuclear Power Plant, LLC Unit Nos. 1 & 2 Docket Nos. 50-317 & 50-318 Table 1 - Calvert Cliffs Nuclear Power Plant (CCNPP)
Unit I Unit 2 Total Information Required by 10 CFR 50.75(i)(1)
($000's)
($000's)
($000's)
The NRC Minimum amount' as of December 31, 2013, la pursuant to 10 CFR 50.75 (b) and (c), as calculated in S488,909 2 S488,9092
$977,8182 Attachment (2)
Decommissioning cost estimate from site-specific study Scenario 1 (prompt DECON without SAFSTOR costs) for lb CCNPP (Reference a) escalated to December 31, 2013 dollars, as described in Attachment (3), which demonstrates S503,7752
$501,4942
$1,005,269 that the site-specific decommissioning cost estimate is greater than the NRC Minimum amount on Row 1 a Decommissioning cost estimate from site-specific study lc Scenario 3 (SAFSTOR) for CCNPP (Reference a) escalated S670,9192
$669,9652
$1,340,8842 to December 31, 2013 dollars, as described in Attachment (4)
The amount accumulated as of December 31, 2013 in the 2
external decommissioning trust pursuant to 10 CFR 50.75 (b) S292,163' S380,7723
$672,935 and (c) for the radiological decommissioning of the unit, net of income taxes payable/receivable 3
Schedule of the annual amounts remaining to be collected so
$0
$0 Assumptions used regarding escalation in decommissioning cost, rate of earnings on decommissioning funds, and other factors used in funding projections Annual decommissioning cost escalation 4%4 4
Annual after-tax rate of earnings on decommissioning funds 6%4 Frequency of contribution to the decommissioning trust N/A 5
Any contracts upon which CENG is relying pursuant to 10 No CFR 50.75 (e)(1)(ii)(B) 6 Any modifications to CENG's current method of providing No financial assurance since the last submitted report 7
Any material changes to trust agreements No 1 of 8
ATTACHMENT (1)
SUMMARY
OF FUNDING STATUS AS OF DECEMBER 31, 2013 Table 1 Notes - Calvert Cliffs Nuclear Power Plant The NRC Minimum amounts in Row la are based on the generic NRC Minimum funding calculation specified in 10 CFR 50.75(c)(1), as adjusted in accordance with paragraph 50.75(c)(2) and Revision 15 of NUREG-1307 (January 2013). The Bureau of Labor Statistics (BLS) indices used regarding energy and labor cost factors were taken from the best source available during the preparation of this submittal, which were the indices published as of December 2013 (preliminary for energy and final for labor). The burial cost escalation factors were taken from the NUREG-1307, Revision 15, Table 2-1, PWR Values for Generic LLW Waste Disposal Site Combination of Compact-Affiliated and Non-Compact Facility for the year 2012.
2 The amounts in Rows la, lb, and lc represent decommissioning costs anticipated to be incurred in removing the CCNPP units safely from service and reducing residual radioactivity to levels that permit release of the property for unrestricted use and termination of the license.
The costs of managing and storing spent fuel on the site until transfer to the U. S. Department of Energy (DOE),
the costs of dismantling nonradioactive systems and structures, and the costs of performing brownfielding activities are not included in this estimate.
The trust fund balances in Row 2 generally contemplate that common decommissioning costs would be borne primarily by Unit 2, since the common facilities cannot be decommissioned until Unit 2 is decommissioned.
However, the site-specific SAFSTOR nuclear decommissioning cost study referenced in Reference (a) allocated the costs of decommissioning the common facilities substantially evenly between Unit 1 and Unit 2.
4 The long-term target rate of return for the fund is approximately 6.5%; however, CENG employs only a 6% rate of return in Row 4 in accordance with the "up to a 2 percent annual real rate of return" limitation set forth in 10 CFR 50.75(e). The weighted average cost escalation value of 4% in Row 4 for all decomnmissioning costs is based on recent decomimissioning cost escalation analyses performed on a Constellation Energy Nuclear Group fleet-wide basis.
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ATTACHMENT (1)
SUMMARY
OF FUNDING STATUS AS OF DECEMBER 31, 2013 Nine Mile Point Nuclear Station, LLC Unit Nos. 1 & 2 Docket Nos. 50-220 & 50-410 Table 2 - Nine Mile Point Nuclear Station (NMPNS)l (Portion Owned by Constellation Energy Nuclear Group (CENG))
(100% of Unit 1 and 82% of Unit 2)
Unit 1 Unit 2 Total Information Required by 10 CFR 50.75(f(1)
($000's)
($000's)
($000's)
The NRC Minimum amount 2 as of December 31, 2013, la pursuant to 10 CFR 50.75 (b) and (c), as calculated in
$620,778'
$569,583'
$1,190,361' Attachment (2)
Decommissioning cost estimate from site-specific study Scenario 1 (prompt DECON without SAFSTOR costs) for lb NMPNS (Reference b) escalated to December 31, 2013 3
dollars, as described in Attachment (3), which demonstrates
$671'1643
$595,470
$1'266'6343 that the site-specific decommissioning cost estimate is greater than the NRC Minimum amount on Row 1 a Decommissioning cost estimate from site-specific study lc Scenario 3 (SAFSTOR) for NMPNS (Reference b)
$851,068' S809,475'
$1,660,5433 escalated to December 31, 2013 dollars, as described in Attachment (4)
The amount accumulated as of December 31, 2013 in the external decommissioning trust pursuant to 10 CFR 50.75
$515,461 S324,711
$840,172 2
(b) and (c) for the radiological decommissioning of the unit, net of income taxes payable/receivable 3
Schedule of the annual amounts remaining to be collected
$0
$0
$0 Assumptions used regarding escalation in decommissioning cost, rate of earnings on decommissioning funds, and other factors used in funding projections 4
Annual decommissioning cost escalation 4%4 Annual after-tax rate of earnings on decommissioning funds 6%4 Frequency of contribution to the decommissioning trust N/A 5
Any contracts upon which CENG is relying pursuant to 10 No CFR 50.75 (e)(1)(ii)(B) 6 Any modifications to CENG's current method of providing No financial assurance since the last submitted report 7
Any material changes to trust agreements No 3 of 8
ATTACHMENT (1)
SUMMARY
OF FUNDING STATUS AS OF DECEMBER 31, 2013 Table 2 Notes - Nine Mile Point Nuclear Station' (Portion Owned by CENG)
(100% of Unit 1 (NMP1) and 82% of Unit 2 (NMP2))
Constellation Energy Nuclear Group (CENG) owns 100% of NMPI1 and 82% of NMP2.
The amounts provided in Table 2 reflect CENG's 100% share of decommissioning responsibilities for NMP1 and CENG's 82% share of decommissioning responsibilities for NMP2. Table 3 contains information regarding LIPA's 18% share of decommissioning responsibilities for NMP2.
2 The NRC Minimum amounts in Row 1 a are based on the generic NRC Minimum funding calculation specified in 10 CFR 50.75(c)(1), as adjusted in accordance with paragraph 50.75(c)(2) and Revision 15 of NUREG-1307 (January 2013). The BLS indices used regarding energy and labor cost factors were taken from the best source available during the preparation of this submittal, which were the indices published as of December 2013 (preliminary for energy and final for labor). The burial cost escalation factors were taken from the NUREG-1307, Revision 15, Table 2-1, BWR Values for Generic LLW Waste Disposal Site Combination of Compact-Affiliated and Non-Compact Facility for the year 2012.
The amounts in Rows la, lb, and lc represent the decommissioning costs, relative to the CENG interests, as anticipated to be incurred in removing the NMPNS units safely from service and reducing residual radioactivity to levels that permit release of the property for unrestricted use and termination of the license. The costs of managing and storing spent fuel on the site until transfer to the DOE, the costs of dismantling nonradioactive systems and structures, and the costs of performing greenfielding activities are not included in this estimate.
4 The long-term target rate of return for the fund is approximately 6.5%; however, CENG employs only a 6% rate of return in Row 4 in accordance with the "up to a 2 percent annual real rate of return" limitation set forth in 10 CFR 50.75(e). The weighted average cost escalation value of 4% in Row 4 for all decommissioning costs is based on recent cost escalation analyses performed on a CENG fleet-wide basis.
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ATTACHMENT (1)
SUMMARY
OF FUNDING STATUS AS OF DECEMBER 31, 2013 Nine Mile Point Nuclear Station, LLC Unit Nos. 1 & 2 Docket Nos. 50-220 & 50-410 Table 3 - Nine Mile Point Nuclear Station' (Portion Owned by LIPA)
(18% of Unit 2)
Note: Information in this table for Rows 2-7 was provided by the NMP2 18% owner, Long Island Power Authority (LIPA).
Constellation Energy Nuclear Group has not independently verified or assessed the information provided by this co-owner.
Unit I Unit 2 Total Information Required by 10 CFR 50.75(0(1)
($000's)
($000's)
($000's)
The NRC Minimum amount as of December 31, 2013, 1a pursuant to 10 CFR 50.75 (b) and (c), as calculated in N/A
$125,030' S125,030' Attachment (2)
Decommissioning cost estimate from site-specific study Scenario 1 (prompt DECON without SAFSTOR costs) for lb NMPNS (Reference b) escalated to December 31, 2013 N/A
$130,7133
$130,7133 dollars, as described in Attachment (3), which demonstrates that the site-specific decommissioning cost estimate is greater than the NRC Minimum amount on Row 1 a Decommissioning cost estimate from site-specific study lc Scenario 3 (SAFSTOR) for NMPNS (Reference b)
N/A
$177,6903
$177,6903 escalated to December 31, 2013 dollars, as described in Attachment (4)
The amount accumulated as of December 31, 2013 in the 2
external decommissioning trust pursuant to 10 CFR 50.75 N/A
$83,940
$83,940 (b) and (c) for the radiological decommissioning of the unit, net of income taxes payable/receivable 3
Schedule of the annual amounts remaining to be collected N/A so
$0 Assumptions used regarding escalation in decommissioning cost, rate of earnings on decommissioning funds, and other factors used in funding projections 4
Annual decommissioning cost escalation N/A 4%4 4%4 Annual after-tax rate of earnings on decommissioning funds N/A 6%4 6%4 Frequency of contribution to the decommissioning trust N/A 5
Any contracts upon which LIPA is relying pursuant to 10 No CFR 50.75 (e)(1)(ii)(B) 6 Any modifications to LIPA's current method of providing No financial assurance since the last submitted report 7
Any material changes to trust agreements No 5 of 8
ATTACHMENT (1)
SUMMARY
OF FUNDING STATUS AS OF DECEMBER 31, 2013 Table 3 Notes - Nine Mile Point Nuclear Station' (Portion Owned by LIPA)
(18% of Unit 2)
Constellation Energy Nuclear Group owns 100% of NMP1 and 82% of NMP2. The amounts for NMP2 provided in Table 2 reflect CENG's 82% share of decommissioning responsibilities. The amounts for NMP2 provided in this Table 3 reflect LIPA's 18% share of decommissioning responsibilities, which amounts have not been independently verified or assessed by CENG.
2 The NRC Minimum amounts in Row la are based on the generic NRC Minimum funding calculation specified in 10 CFR 50.75(c)(1), as adjusted in accordance with paragraph 50.75(c)(2) and Revision 15 of NUREG-1307 (January 2013). The BLS indices used regarding energy and labor cost factors were taken from the best source available during the preparation of this submittal, which were the indices published as of December 2013 (preliminary for energy and final for labor). The burial cost escalation factors were taken from the NUREG-1307, Revision 15, Table 2-1, BWR Values for Generic LLW Waste Disposal Site Combination of Compact-Affiliated and Non-Compact Facility for the year 2012.
The amounts in Rows la, lb, and lc represent the decommissioning costs, relative to the LIPA interests, as anticipated to be incurred in removing NMP2 safely from service and reducing residual radioactivity to levels that permit release of the property for unrestricted use and termination of the license. The costs of managing and storing spent fuel on the site until transfer to the DOE, the costs of dismantling nonradioactive systems and structures, and the costs of performing greenfielding activities are not included in this estimate.
In Row 4, the long-term target rate of return for the fund is approximately 6%, which is in accordance with the "up to a 2 percent annual real rate of return" limitation set forth in 10 CFR 50.75(e). The weighted average cost escalation value of 4% in Row 4 for all decommissioning costs is based on recent cost escalation analyses performed on a CENG fleet-wide basis.
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ATTACHMENT (1)
SUMMARY
OF FUNDING STATUS AS OF DECEMBER 31, 2013 R.E. Ginna Nuclear Power Plant, LLC Docket No. 50-244 Table 4 - R.E. Ginna Nuclear Power Plant (Ginna)
Total Information Required by 10 CFR 50.75(0(1)
($To0's) la The NRC Minimum amount I as of December 31, 2013, pursuant to 10
$459,8702 CFR 50.75 (b) and (c), as calculated in Attachment (2)
Decommissioning cost estimate from site-specific study Scenario 1 (prompt DECON without SAFSTOR costs) for Ginna (Reference b) lb escalated to December 31, 2013 dollars, as described in Attachment (3),
$467,8872 which demonstrates that the site-specific decommissioning cost estimate is greater than the NRC Minimum amount on Row la Decommissioning cost estimate from site-specific study Scenario 3 Ic (SAFSTOR) for Ginna (Reference b) escalated to December 31, 2013
$691,6742 dollars, as described in Attachment (4)
The amount accumulated as of December 31, 2013 in the external decommissioning trust pursuant to 10 CFR 50.75 (b) and (c) for the S369,672 radiological decommissioning of the unit, net of income taxes payable/receivable 3
Schedule of the annual amounts remaining to be collected
$0 Assumptions used regarding escalation in decommissioning cost, rate of earnings on decommissioning funds, and other factors used in funding projections Annual decommissioning cost escalation 4%3 4
Annual after-tax rate of earnings on decommissioning funds 6%'
Frequency of contribution to the decommissioning trust N/A 5
Any contracts upon which CENG is relying pursuant to 10 CFR 50.75 No (e)(1)(ii)(B) 6 Any modifications to CENG's current method of providing financial No assurance since the last submitted report 7
Any material changes to trust agreements No 7 of 8
ATTACHMENT (1)
SUMMARY
OF FUNDING STATUS AS OF DECEMBER 31, 2013 Table 4 Notes - R.E. Ginna Nuclear Power Plant The NRC Minimum amounts in Row la are based on the generic NRC Minimum funding calculation specified in 10 CFR 50.75(c)(1), as adjusted in accordance with paragraph 50.75(c)(2) and Revision 15 of NUREG-1307 (January 2013). The BLS indices used regarding energy and labor cost factors were taken from the best source available during the preparation of this submittal, which were the indices published as of December 2013 (preliminary for energy and final for labor). The burial cost escalation factors were taken from the NUREG-1307, Revision 15, Table 2-1, PWR Values for Generic LLW Waste Disposal Site Combination of Compact-Affiliated and Non-Compact Facility for the year 2012.
The amounts in Rows la, lb, and lc represent decommissioning costs anticipated to be incurred in removing the Ginna unit safely from service and reducing residual radioactivity to levels that permit release of the property for unrestricted use and termination of the license. The costs of managing and storing spent fuel on the site until transfer to the DOE, the costs of dismantling nonradioactive systems and structures, and the costs of performing greenfielding activities are not included in this estimate.
The long-term target rate of return for the fund is approximately 6.5%; however, CENG employs only a 6% rate of return in Row 4 in accordance with the "up to a 2 percent annual real rate of return" limitation set forth in 10 CFR 50.75(e). The weighted average cost escalation value of 4% in Row 4 for all decommissioning costs is based on recent cost escalation analyses performed on a CENG fleet-wide basis.
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ATTACHMENT (2)
NRC MINIMUM CALCULATIONS AS OF DECEMBER 31, 2013 Constellation Energy Nuclear Group, LLC March 26, 2014
Constellation Energy Nuclear Group (CENG)
NRC Minimum Calculations as of December 31, 2013 Dollars in Thousands Calvert Cliffs Nine Mile Point Date Unit I Unit 2 Unit 1 Unit 2 Ginna Operating region Type of reactor unit South PWR South PWR Northeast BWR Northeast Northeast BWR PWR NRC Minimum (in 1986 $000s):
A MWth 12/31/2013 B
Variable cost per MWth 10 CFR 50. 75(0 C
Total variable cost [= A x B]
D Fixed cost 10 CFR 50.75(c)
E Total cost ceiling 10 CFR 50.75(c)
F NRC Minimum (in 1986 $000s)
[=MIN(C+D, E)per 10CFR50.75(c)]
Jan-1986 NRC Minimum escalation factors:
G Labor weight Employee cost index (ECI)
H Base factor (L Dc.-2005)
Dec-2005 I
Current ECI (100= l x factor)
Dec-2013 i
Labor cost escalation factor (L Q014.2013) [
H x I / 100]
K Energy weight L
Power weight by reactor type (within energy)
Power index (P.)
M Base index (P Jan-19s6)
Jan-1986 N
Current P, (100=Ix factor)
Dec-2013 2,737 S8.800
$24,086 S75,000
$105,000 2,737
$8.800
$24,086
$75,000
$105,000 1,850
$9.000
$16,650
$104,000
$135,000 3,988
$9.000
$35,892
$104,000
$135,000 1,775
$8.800
$15,620
$75,000
$105,000 0
Current escalation factor (P Dec-2013(0)) [= N / M]
$99,086
$99,086
$120,650
$135,000
$90,620 0.65 0.65 0.65 0.65 0.65 LNDEX (South) = CIU20100000002201 LINDEX (Northeast) = CIU20100000002101 1.98 1.98 2.16 2.16 2.16 120.1 120.1 120.1 120.1 120.1 2.37798 2.37798 2.59416 2.59416 2.59416 0.13 0.13 0.13 0.13 0.13 0.58 0.58 0.54 0.54 0.58 PPIndex (Industrial electric power) =wpu0543 114.2 114.2 114.2 114.2 114.2 200.3 200.3 200.3 200.3 200.3 1.753940455 1.753940455 1.753940455 1.753940455 1.753940455 0.42 0.42 0.46 0.46 0.42 PPlndex (Light fuel oils) = wpu0573 82.0 82.0 82.0 82.0 82.0 302.7 302.7 302.7 302.7 302.7 3.691463415 3.691463415 3.691463415 3.691463415 3.691463415 2.567700098 2.567700098 2.645201017 2.645201017 2.567700098 0.22 0.22 0.22 0.22 0.22 Generic LLW Disposal Site Combination of Compact-Affiliated and Non-Compact Facility 13.885 13.885 14.160 14.160 13.885 4.934188013 4.934188013 5.145280132 5.145280132 5.074705013
$488,909
$488,909
$620,778
$694,613
$459,870 P
Fuel oil weight by reactor type (within energy)
Power index (F0)
Q Base index (F Jun-1986)
R Current F. (100=lx factor)
I
[an-1986
)ec-2013 S
Current escalation factor (F Dec,2-013(P) [= R / Q]
T Energy weighted average cost escalation factor
[= (L x 0) + (P x S)]
U Burial weight NUREG-1307 Rev. 15 Table 2-1 (by reactor type):
V Burial cost escalation factor (B0)
Year 2013 W
Combined weighted average escalation factor
[= (G x J) + (K x T) + (U x V)]
X NRC Minimum as of December 31, 2013 [= F x W]
Attachment (2) Page 1 of I
ATTACHMENT (3)
COMPARISON OF SITE-SPECIFIC DECOMMISSIONING COST ESTIMATES TO NRC MINIMUM AMOUNTS AS OF DECEMBER 31, 2013 I
Constellation Energy Nuclear Group, LLC March 26, 2014
Constellation Energy Nuclear Group (CENG)
Comparison of Site-Specific Decommissioning Cost Estimates to NRC Minimum Amounts as of December 31, 2013 10 CFR 50.75(b)(1) requires that the DCEs be greater than the NRC Minimum amounts. The NRC Minimum amounts as of December 31, 2013 are calculated in Attachment (2). Row A in the table below summarizes the DCEs based on the Scenario 1 prompt DECON assumptions in the Cost Studies. These DCEs are escalated to December 31, 2013 dollars in Row C below, which escalated DCEs are greater than the respective NRC Minimum amounts on Row D below by the amounts on Row E below.
Calvert Cliffs (CCNPP)
Nine Mile Point (NMPNS)
Ginna Unit 1 Unit 2 Unit I Unit 2 Unit A Disbursements of DCEs from Scenario 1 (prompt DECON) of 2009 site-specific study in 2009 dollars [see Reference (a) for CCNPP and Reference (b) for NMPNS and Ginna]
389,136 387,374 552,489 597,780 363,464 B Compound cost escalation factor from 2009 dollars to December 31, 2013 dollars
[from Row CC of Attachment (5)]
C Disbursements of Scenario 1 DCEs in December 31, 2013 dollars [= A x B]
D NRC Minimum amount as of December 31, 2013 [from Row X of Attachment (2)]
E Site-specific study DCEs are greater than NRC Minimum amounts [= D - C > 0]
1.2946 1.2946 1.2148 1.2148 1.2873 503,775 501,494 671,164 726,183 467,887 488,909 488,909 620,778 694,613 459,870 14,866 12,585 50,386 31,570 8,017 Notes 1 A final determination of the ultimate decommissioning approach for each of the units has not been made. Different decommissioning options, with different costs and schedules, which also meet the requirements under 10 CFR 50.75, may be chosen in the future. Any funds remaining after the completion of radiological decommissioning could be available to pay for spent fuel management and greenfielding decommissioning activities.
2 The December 31, 2013 NRC Minimum amounts are calculated pursuant to NUREG-1307 Revision 15 (January 2013). They reflect the final labor and preliminary energy indices as of December 2013 published by the Bureau of Labor Statistics and the burial cost escalation factors per NUREG-1307 Revision 15 Table 2-1 Values for Generic LLW Waste Disposal Site Combination of Compact-Affiliated and Non-Compact Facility for the year 2012 (applicable for the year 2013 since it is the latest year for which published information is available).
3 Decommissioning disbursements apply to only license termination radiological decommissioning costs and do not include any decommissioning costs for spent fuel management or greenfielding.
Attachment (3) Page 1 of I
ATTACHMENT (4)
FUNDING AND FINANCIAL ASSURANCE ANALYSIS AS OF DECEMBER 31, 2013 Constellation Energy Nuclear Group, LLC March 26, 2014
Constellation Energy Nuclear Group (CENG)
Funding and Financial Assurance Analysis as of December 31, 2013 The demonstration of financial assurance for the radiological decommissioning of each unit is based on the Scenario 3 SAFSTOR assumptions in the Cost Studies, with costs escalated to December 31, 2013 dollars. Page 2 of this Attachment (4) presents the sum of the annual escalated DCEs in Row D of the table. Pages 3-10 of this Attachment (4) present the annual escalated DCEs, the annual earnings at an assumed 2% real rate of return on the funds, and the annual fund balances available to provide for the radiological decommissioning of the units following a period of SAFSTOR, pursuant to 10 CFR 50.75(c) and (e). The positive balances of the trust funds throughout the decommissioning periods, as presented on pages 3-11 of this Attachment (4), confirms adequate financial assurance for each of the units because the respective nuclear decommissioning trust funds are sufficient to provide for the radiological decommissioning of the units.
Attachment (4) Page 1 of 10
Constellation Energy Nuclear Group (CENG)
Funding and Financial Assurance Analysis as of December 31, 2013 Calvert Cliffs (CCN]
Unit I Unit 2 50.75 50.75 7/31/2034 8/13/2036 PP)
Nine Mile Point (NMPNS)
Unit 2 (NMP2)
LIPA 18%
CENG 82%
LIPA 18%
Dollars in Thousands 72.30 50.75 50.75 50.75 72.30 72.30 8/22/2029 10/31/2046 10/31/2046 Ginna Unit ISFSI License Information 10 CFR license part Plant license expiration and shutdown date Radiological Decommissioning Trust Fund Activity Balance of trust funds as of December 31, 2013 A
Trust fund market value balance, net of income taxes payable/ receivable [iSFSI amount allocated to cover future ISFSI decommissioning costs]
[to Attachment (1) Row 2 in Tablesl Disbursements of DCEs through period of decommissioning B
Disbursements of DCEs from Scenario 3 (SAFSTOR alternative) of 2009 site-specific study in 2009 dollars [see Reference (a) for the CCNPP units, Reference (b) for the NMPNS and Ginna units, and Reference (c) for the ISFSIs]
C Compound cost escalation factor from 2009 dollars to December 31, 2013 dollars
[Unit factors from Row CC of Attachment (5) based on increase in NRC Minimum amounts; ISFSI factors equal to respective Unit factors]
D Disbursements of DCEs from Scenario 3 in December 31, 2013 dollars [= B x C; see subsequent pages of this Attachment (4) for annual DCE disbursements]
Ito Attachment (1) Row Ic in Tablesi Earnings through period of decommissioning E
Trust fund earnings through decommissioning period based on 2% real rate of return per Attachment (1) [see subsequent pages of this Attachment (4) for annual earnings]
Financial assurance F
Balance of trust funds upon completion of decommissioning, net of income taxes payable/receivable [= A - D + E; see subsequent pages of this Attachment (4) for annual balances]
Reconciliation of Scenario I to Scenario 3 DCEs (in 12/31/2013 dollars)
Disbursements of DCEs through period of decommissioning G
Scenario I (prompt DECON) [from Row C of Attachment (3)]
Ito Attachment (1) Row Ib in Tables]
H Net incremental DCEs associated with SAFSTOR Scenario 3 [= I - G]
I Scenario 3 (SAFSTOR) [from Row D above]
50.75 9/18/2029 72.30
$ 292,163
$ 380,772 811
$ 515,461 324,711 83,940 617 135
$ 369,672 S
1,301 518,244 517,507 1,686 700,583 666,345 146,270 1,540 338 537,306 1,830 1.2946 1.2946 1.2946 1.2148 1.2148 1.2148 1.2148 1.2148 1.2873 1.2873 670,919 669,965 2,183 851,068 809,475 177,690 1,871 411 691,674 2,356 592,009 867,262 1,372 986,884 999,897 271,053 1,254 276 670,598 1,055
$ 213,253
$ 578,069
$ 651,277 515,133
$ 177,303
$ 348,596 Calvert Cliffs (CCNPP)
Unit I Unit 2
$ 503,775 S 501,494 167,144 168,471
$ 670,919
$ 669,965 Nine Mile Point (NMPNS)
Unit 2 (100%)
Ginna Unit Unit I S 671,164 179,904
$ 851,068 726,183 260,982 987,165
$ 467,887 223,787
$ 691,674 Notes I A final determination of the decommissioning approach for each of the units has not been made. Different decommissioning options that also meet the requirements under 10 C.F.R 50.75 may be chosen in the future. Any funds remaining after the completion of radiological decommissioning could be available to pay for spent fuel management and greenfielding decommissioning activities.
2 For NMP2, the December 31, 2013 trust fund balances reflect the respective CENG and LIPA fund balances, the disbursement and NRC minimum amounts reflect the 82%/18% pro rata CENG/LIPA ownerships, the earnings are calculated on the respective trust fund balances less the pro rata disbursements, and the site-specific study reflects the cost of decommisioning 100% of NMP2.
3 Decommissioning disbursements are assumed to be paid as of January I of each year, apply to only license termination radiological decommissioning costs, and do not include any decommissioning costs for spent fuel management or greenfielding.
4 The trust fund balances for CCNPP generally contemplate that common decommissioning costs would be borne primarily by Unit 2, since the common facilities cannot be decommissioned until Unit 2 is decommissioned.
However, the site-specific SAFSTOR nuclear decommissioning cost study referenced in Reference (a) allocated the costs of decommissioning the common facilities substantially evenly between Unit I and Unit 2. As a result, the amount of financial assurance on Row F above is greater for CCNPP2 than for CCNPP I.
Attachment (4) Page 2 of 10
Calvert Cliffs Nuclear Power Plant and ISFSI Detailed Annual Trust Fund Activity and Balances (Net of Income Taxes Payable/Receivable)
Based on Site-Specific Study Scenario 3 (50-Year SAFSTOR) Cash Flows and 2% Real Rate of Return In Thousands of Dollars Radiological Decommissioning Completion Disbursements with Compound Radiological Trust Funds 2084 Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 2051 2052 2053 2054 Escalation Factor of 1.2946 In 12/31/2013 $000s Unit 1 Unit 2 ISFSI Unit 1 2.00%
Unit 2 ISFSI 2.00%
2.00%
Earnings Earnings 6,030 8,555 30,317 45,598 4,028 4,028 4,028 10,302 12,312 2,863 2,863 2,863 2,863 2,863 2,863 2,863 2,863 2,863 2,863 2,863 2,863 6,030 8,555 25,696 50,219 4,028 4,028 4,028 10,302 12,312 2,863 2,863 2,863 2,863 2,863 2,863 2,863 2,863 2,863 2,863 2,863 2,863 5,843 5,960 6,079 6,201 6,325 6,451 6,580 6,712 6,846 6,983 7,123 7,265 7,411 7,559 7,710 7,864 8,022 8,182 8,346 8,513 8,562 8,562 8,127 7,378 7,445 7,513 7,583 7,528 7,433 7,524 7,617 7,713 7,810 7,908 8,009 8,112 8,217 8,324 8,434 8,545 8,659 Balance
$ 292,163 298,006 303,966 310,045 316,246 322,571 329,023 335,603 342,315 349,161 356,145 363,268 370,533 377,944 385,502 393,212 401,077 409,098 417,280 425,626 434,138 436,670 436,677 414,488 376,267 379,684 383,169 386,724 383,951 379,072 383,734 388,488 393,338 398,285 403,331 408,478 413,728 419,082 424,544 430,115 435,798 441,594 7,615 7,768 7,923 8,082 8,243 8,408 8,576 8,748 8,923 9,101 9,283 9,469 9,658 9,851 10,048 10,249 10,454 10,663 10,877 11,094 11,196 11,248 10,959 10,174 10,297 10,423 10,550 10,555 10,520 10,673 10,830 10,989 11,151 11,317 11,486 11,659 11,835 12,014 12,197 12,384 12,574 Balance
$ 380,772 388,388 396,156 404,079 412,160 420,404 428,812 437,388 446,136 455,058 464,159 473,443 482,911 492,570 502,421 512,470 522,719 533,173 543,837 554,713 565,808 570,973 573,666 558,930 518,885 525,154 531,549 538,071 538,325 536,533 544,344 552,311 560,437 568,726 577,181 585,805 594,601 603,573 612,725 622,060 631,581 641,293 16 17 17 17 18 18 18 19 19 19 20 20 21 21 21 22 22 23 23 24 24 25 25 26 26 27 27 28 28 29 29 30 31 31 32 32 33 34 34 35 36 Earnings Balance 811 827 844 861 878 895 913 932 950 969 989 1,008 1,028 1,049 1,070 1,091 1,113 1,136 1,158 1,181 1,205 1,229 1,254 1,279 1,304 1,330 1,357 1,384 1,412 1,440 1,469 1,498 1,528 1,559 1,590 1,622 1,654 1,687 1,721 1,755 1,791 1,826 Attachment (4) Page 3 of 10
Calvert Cliffs Nuclear Power Plant and ISFSI Detailed Annual Trust Fund Activity and Balances (Net of Income Taxes Payable/Receivable)
Based on Site-Specific Study Scenario 3 (50-Year SAFSTOR) Cash Flows and 2% Real Rate of Return In Thousands of Dollars Radiological Decommissioning Completion Disbursements with Compound Radiological Trust Funds 2084 Year 2055 2056 2057 2058 2059 2060 2061 2062 2063 2064 2065 2066 2067 2068 2069 2070 2071 2072 2073 2074 2075 2076 2077 2078 2079 2080 2081 2082 2083 2084 Totals Escalation Factor of 1.2946 In 12/31/2013 $000s Unit I Unit 2 ISFSI 2,863 2,863 3,410 3,410 2,863 2,863 2,863 2,863 2,863 2,863 2,863 2,863 2,863 2,863 2,863 2,863 2,863 2,863 2,863 2,863 2,183 3,235 3,235 3,331 3,331 3,331 3,331 3,331 3,331 3,331 3,331 3,331 3,331 3,331 3,331 3,331 3,331 3,331 3,331 3,331 3,331 3,331 3,331 3,878 3,878 7,162 7,162 21,207 21,207 95,171 66,602 133,929 118,428 83,447 104,319 57,500 79,744 43,260 43,260 96 96
$ 670,919
$ 669,965
$2,183 Unit 1 2.00%
Earnings Balance 8,775 447,506 8,882 452,978 9,002 459,118 9,125 465,380 9,250 471,768 9,378 478,284 9,508 484,929 9,641 491,708 9,777 498,622 9,915 505,675 10,049 512,489 10,183 519,341 10,320 526,330 10,460 533,459 10,603 540,730 10,748 548,147 10,896 555,712 11,048 563,428 11,202 571,299 11,359 579,328 11,520 587,516 11,673 595,311 11,763 599,912 11,574 590,279 9,902 505,011 7,422 378,504 5,901 300,957 4,869 248,326 4,101 209,168 4,181 213,253
$ 592,009
$ 213,253 Unit 2 2.00%
Earnings 12,769 12,956 13,158 13,364 13,574 13,788 14,006 14,229 14,456 14,688 14,917 15,149 15,386 15,627 15,873 16,123 16,379 16,640 16,906 17,178 17,455 17,726 17,938 17,872 16,898 14,867 13,078 11,745 11,114 11,335
$ 867,262 Balance 651,199 660,745 671,040 681,541 692,252 703,177 714,321 725,687 737,281 749,107 760,789 772,607 784,662 796,957 809,498 822,291 835,339 848,648 862,223 876,070 890,193 904,041 914,817 911,483 861,779 758,217 666,976 598,977 566,831 578,069
$ 578,069 ISFSI 2.00%
Earnings Balance 37 1,863 37 1,900 38 1,938 39 1,977 40 2,016 40 2,057 41 2,098 42 2,140 43 2,183
$ 1,372 Attachment (4) Page 4 of 10
Nine Mile Point Nuclear Station and ISFSI Detailed Annual Trust Fund Activity and Balances (Net of Income Taxes Payable/Receivable) - CENG's Portion (100% of Unit 1 and 82% of Unit 2)
Based on Site-Specific Study Scenario 3 (50-Year SAFSTOR) Cash Flows and 2% Real Rate of Return In Thousands of Dollars Radiological Decommissioning Disbursements with Compound Completion Escalation Factor of 1.2148 2095 In 12/31/2013 $000s Radiological Trust Funds Unit 1 Unit 2 100%
CENG's Portion Unit 1 Unit 2 ISFSI 2.00%
Earnings 2.00%
Earnings ISFSI 2.00%
Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 2051 2052 2053 2054 7,078 60,022 37,871 4,288 4,288 4,288 20,982 16,632 2,152 2,152 2,152 2,152 2,152 2,152 2,152 2,152 2,152 2,156 2,163 2,201 2,151 3,100 2,151 2,151 2,198 2,163 2,163 S
10,309 10,515 10,726 10,940 11,159 11,382 11,610 11,842 12,079 12,320 12,567 12,818 13,075 13,336 13,461 12,530 12,023 12,178 12,336 12,497 12,327 12,241 12,443 12,648 12,858 13,072 13,291 13,514 13,741 13,973 14,209 14,450 14,696 14,946 15,202 15,444 15,709 15,981 16,256 16,538 16,826 Balance
$ 515,461 525,770 536,285 547,011 557,951 569,110 580,493 592,102 603,945 616,023 628,344 640,911 653,729 666,804 680,140 686,522 639,030 613,182 621,071 629,118 637,327 628,671 624,280 634,570 645,066 655,772 666,693 677,831 689,193 700,781 712,602 724,658 736,953 749,485 762,230 775,281 787,624 801,183 815,013 829,072 843,446 858,109 6,494 6,624 6,757 6,892 7,030 7,170 7,314 7,460 7,609 7,761 7,916 8,075 8,236 8,401 8,569 8,740 8,915 9,093 9,275 9,461 9,650 9,843 10,040 10,241 10,446 10,654 10,868 11,085 11,307 11,533 11,763 11,942 11,644 10,787 10,898 11,010 11,125 10,958 10,768 10,938 11,112 Balance 324,711 331,205 337,829 344,586 351,477 358,507 365,677 372,991 380,450 388,059 395,821 403,737 411,812 420,048 428,449 437,018 445,758 454,673 463,767 473,042 482,503 492,153 501,996 512,036 522,277 532,722 543,377 554,244 565,329 576,636 588,169 599,932 609,065 593,860 550,149 555,784 561,533 567,396 558,833 549,149 557,849 566,724 12 13 13 13 13 14 14 14 14 15 15 15 16 16 16 17 17 17 18 18 18 19 19 19 20 20 21 21 21 22 22 23 23 24 24 25 25 26 26 27 27 Earnings Balance 617 630 642 655 668 681 695 709 723 738 752 767 783 798 814 831 847 864 881 899 917 935 954 973 993 1,013 1,033 1,053 1,075 1,096 1,118 1,140 1,163 1,186 1,210 1,234 1,259 1,284 1,310 1,336 1,363 1,390 2,810 26,849 54,498 5,262 5,262 5,262 19,520 20,452 2,238 2,238 Attachment (4) Page 5 of 10
Nine Mile Point Nuclear Station and ISFSI Detailed Annual Trust Fund Activity and Balances (Net of Income Taxes Payable/Receivable) - CENG's Portion (100% of Unit 1 and 82% of Unit 2)
Based on Site-Specific Study Scenario 3 (50-Year SAFSTOR) Cash Flows and 2% Real Rate of Return In Thousands of Dollars Radiological Decommissioning Disbursements with Compound Completion Escalation Factor of 1.2148 2095 In 12/31/2013 $000s Radiological Trust Funds Unit 1 Unit 2 ISFSI 2.00%
Year 2055 2056 2057 2058 2059 2060 2061 2062 2063 2064 2065 2066 2067 2068 2069 2070 2071 2072 2073 2074 2075 2076 2077 2078 2079 2080 2081 2082 2083 2084 2085 2086 2087 2088 2089 2090 2091 2092 2093 2094 2095 Totals 100%
Unit 1 2,16 2,16 2,16 2,16 2,16 2,16 2,16 2,16 2,16 2,16 2,16 2,16 2,16 2,16 3,11 2,16 2,24 2,60 23,42 87,04 283,23 166,88 52,65
$ 851,06 CENG's Portion Unit 2 ISFSI 3
2,238 3
2,238 3
2,238
.3 2,238 3
2,238 3
2,238 3
2,238
.3 2,238 3
2,238
.3 2,238
.3 2,238
.3 2,238
.8 2,242
.3 2,238 3
3,300
.3 2,238 1,871
.1 2,302
)1 2,596 1
2,460
.6 2,407 6
2,440 2
2,453 4
2,886 3,307 3,307 3,307 3,307 3,307 3,307 3,307 3,307 3,307 3,307 3,307 4,368 17,060 68,761 186,777 178,857 118,094 379 8
$ 809,475
$ 1,871 2.00%
Earnings 17,119 17,418 17,723 18,034 18,352 18,675 19,006 19,343 19,686 20,037 20,394 20,759 21,130 21,510 21,878 22,272 22,673 23,074 23,067 21,788 16,559 13,552 12,770 Balance 873,064 888,319 903,878 919,749 935,937 952,449 969,292 986,471 1,003,993 1,021,867 1,040,097 1,058,692 1,077,655 1,097,002 1,115,766 1,135,875 1,156,308 1,176,781 1,176,427 1,111,168 844,491 691,161 651,277 651,277 651,277 651,277 651,277 651,277 651,277 651,277 651,277 651,277 651,277 651,277 651,277 651,277 651,277 651,277 651,277 651,277 651,277
$ 651,277 2.00%
Earnings 11,290 11,471 11,655 11,844 12,036 12,232 12,432 12,636 12,844 13,056 13,272 13,493 13,718 13,947 14,160 14,399 14,641 14,882 15,130 15,384 15,643 15,907 16,168 16,425 16,687 16,955 17,228 17,506 17,790 18,080 18,375 18,677 18,984 19,298 19,596 19,647 18,665 15,302 12,031 9,910 10,101
$ 999,897 Balance Earnings Ba 575,776 28 585,008 28 594,426 29 604,032 30 613,830 30 623,824 31 634,018 31 644,415 32 655,021 33 665,839 33 676,873 34 688,128 35 699,603 35 711,313 36 722,173 37 734,334 746,673 758,959 771,628 784,606 797,809 811,263 824,545 837,663 851,044 864,692 878,613 892,813 907,296 922,070 937,138 952,508 968,186 984,177 999,405 1,001,992 951,895 780,421 613,596 505,411 515,133 515,133
$ 1,254 lance 1,418 1,446 1,475 1,505 1,535 1,565 1,597 1,629 1,661 1,694 1,728 1,763 1,798 1,834 1,871
$ 986,884 Attachment (4)
Page 6 of 10 Attachment (4) Page 6 of 10
Nine Mile Point Nuclear Station and ISFSI Detailed Annual Trust Fund Activity and Balances (Net of Income Taxes Payable/Receivable) - LIPA's Portion (18% of Unit 2)
Based on Site-Specific Study Scenario 3 (50-Year SAFSTOR) Cash Flows and 2% Real Rate of Return In Thousands of Dollars Completion 2095 Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 2051 2052 2053 2054 2055 Radiological Decommissioning Disbursements with Compound Escalation Factor of 1.2148 In 12/31/2013 $OOOs U_
LIPA's Portion 2.00%
Unit 2 ISFSI Earnings Radiological Trust Funds nit 2 ISFSI S
1,679 1,712 1,747 1,782 1,817 1,854 1,891 1,928 1,967 2,006 2,046 2,087 2,129 2,172 2,215 2,259 2,305 2,351 2,398 2,446 2,495 2,544 2,595 2,647 2,700 2,754 2,809 2,866 2,923 2,981 3,041 3,089 3,033 2,855 2,889 2,923 2,959 2,932 2,901 2,949 2,998 3,049 Balance 83,940 85,618 87,331 89,077 90,859 92,676 94,530 96,420 98,349 100,316 102,322 104,368 106,456 108,585 110,756 112,972 115,231 117,536 119,886 122,284 124,730 127,224 129,769 132,364 135,012 137,712 140,466 143,275 146,141 149,064 152,045 155,086 157,558 154,698 145,590 147,323 149,092 150,895 149,542 147,954 150,412 152,919 155,477 2.00%
Earnings Balance S 135 3
138 3
141 3
144 3
147 3
150 3
153 3
156 3
159 3
162 3
165 3
168 3
172 3
175 4
179 4
182 4
186 4
190 4
193 4
197 4
201 4
205 4
209 4
214 4
218 4
222 4
227 5
231 5
236 5
241 5
245 5
250 5
255 5
260 5
266 5
271 5
276 6
282 6
288 6
293 6
299 6
305 6
311 Attachment (4) Page 7 of 10 617 5,894 11,963 1,155 1,155 1,155 4,285 4,489 491 491 491
Nine Mile Point Nuclear Station and ISFSI Detailed Annual Trust Fund Activity and Balances (Net of Income Taxes Payable/Receivable) - LIPA's Portion (18% of Unit 2)
Based on Site-Specific Study Scenario 3 (50-Year SAFSTOR) Cash Flows and 2% Real Rate of Return In Thousands of Dollars Radiological Decomunissioning Disbursements with Compound Escalation Factor of 1.2148 In 12/31/2013 SOOOs Completion 2095 Year 2056 2057 2058 2059 2060 2061 2062 2063 2064 2065 2066 2067 2068 2069 2070 2071 2072 2073 2074 2075 2076 2077 2078 2079 2080 2081 2082 2083 2084 2085 2086 2087 2088 2089 2090 2091 2092 2093 2094 2095 Totals Radiological Trust Funds Unit 2 2.00%
ISFSI 2.00%
LIPA's Portion Unit 2 491 491 491 491 491 491 491 491 491 491 491 492 491 724 491 505 570 540 528 536 538 633 726 726 726 726 726 726 726 726 726 726 726 959 3,745 15,094 41,000 39,261 25,923 83 S
177,690 ISFSI Earnings 3,100 3,152 3,205 3,259 3,315 3,371 3,429 3,488 3,547 3,609 3,671 3,735 3,799 3,861 411 3,928 3,997 4,065 4,136 4,208 4,281 4,356 4,431 4,505 4,580 4,657 4,736 4,816 4,898 4,982 5,067 5,153 5,242 5,332 5,420 5,453 5,261 4,546 3,851 3,410 3,477
$ 411
$ 271,053 Balance 158,085 160,746 163,459 166,228 169,051 171,931 174,869 177,865 180,921 184,038 187,218 190,460 193,769 196,905 200,342 203,834 207,329 210,925 214,604 218,350 222,168 225,965 229,744 233,599 237,530 241,541 245,631 249,803 254,059 258,400 262,828 267,344 271,950 276,411 278,120 268,286 231,832 196,423 173,909 177,303
$ 177,303 Earnings 6
6 6
7 7
7 7
7 7
7 8
8 8
8 Balance 317 324 330 337 344 350 357 365 372 379 387 395 403 411
$ 276 Attachment (4) Page 8 of 10
R.E. Ginna Nuclear Power Plant and ISFSI Detailed Annual Trust Fund Activity and Balances (Net of Income Taxes Payable/Receivable)
Based on Site-Specific Study Scenario 3 (50-Year SAFSTOR) Cash Flows and 2% Real Rate of Return In Thousands of Dollars Completion 2078 Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 2051 2052 2053 2054 2055 Radiological Decommissioning Disbursements with Compound Escalation Factor of 1.2873 U
In 12/31/2013 $000s 2.00%
Unit ISFSI Earnings Radiological Trust Funds nit ISFSI 8,387 40,074 26,551 5,037 5,037 5,037 6,260 23,039 2,939 2,939 2,939 2,939 2,939 2,939 2,939 2,939 2,939 2,939 3,793 3,916 3,916 4,370 3,916 3,916 3,916 3,916 3,916 3,916 7,393 7,541 7,692 7,846 8,003 8,163 8,326 8,493 8,663 8,836 9,013 9,193 9,377 9,564 9,588 8,978 8,627 8,698 8,772 8,846 8,898 8,615 8,729 8,844 8,963 9,083 9,206 9,331 9,459 9,589 9,722 9,858 9,979 10,101 10,224 10,341 10,470 10,601 10,735 10,871 11,010 11,152 Balance
$ 369,672 377,065 384,606 392,299 400,145 408,147 416,310 424,637 433,129 441,792 450,628 459,640 468,833 478,210 487,774 488,974 457,879 439,954 443,615 447,350 451,160 453,797 439,373 445,163 451,068 457,091 463,235 469,501 475,893 482,413 489,063 495,846 502,765 508,952 515,137 521,445 527,416 533,970 540,656 547,475 554,430 561,524 568,760 2.00%
Earnings 26 27 27 28 28 29 29 30 30 31 32 32 33 34 34 35 36 36 37 38 39 39 40 41 42 43 44 44 45 46 Balance
$ 1,301 1,327 1,353 1,380 1,408 1,436 1,465 1,494 1,524 1,554 1,585 1,617 1,649 1,682 1,716 1,750 1,785 1,821 1,857 1,895 1,933 1,971 2,011 2,051 2,092 2,134 2,176 2,220 2,264 2,310 2,356 2,356 Attachment (4) Page 9 of 10
R.E. Ginna Nuclear Power Plant and ISFSI Detailed Annual Trust Fund Activity and Balances (Net of Income Taxes Payable/Receivable)
Based on Site-Specific Study Scenario 3 (50-Year SAFSTOR) Cash Flows and 2% Real Rate of Return In Thousands of Dollars Completion 2078 Year 2056 2057 2058 2059 2060 2061 2062 2063 2064 2065 2066 2067 2068 2069 2070 2071 2072 2073 2074 2075 2076 2077 2078 Radiological Decommissioning Disbursements with Compound Escalation Factor of 1.2873 L
In 12/31/2013 $000s 2.00%
Unit ISFSI Earnings 3,916 11,297 3,916 11,445 3,916 11,595 3,916 11,749 3,916 11,905 3,916 12,065 3,916 12,228 3,916 12,394 3,916 12,564 3,916 12,737 3,916 12,913 3,916 13,093 3,916 13,277 4,370 13,455 3,916 13,646 3,916 13,840 3,916 14,039 3,916 14,241 9,592 14,334 30,172 14,017 147,369 11,350 169,709 8,183 75,584 6,835 691,674
$ 2,356
$ 670,598 Radiological Trust Funds
[nit ISFSI 2.00%
Earnings Balance Balance 576,141 583,670 591,349 599,182 607,171 615,320 623,633 632,111 640,759 649,580 658,577 667,755 677,115 686,200 695,930 705,854 715,977 726,302 731,044 714,889 578,871 417,345 348,596
$ 348,596
$1,055 Attachment (4) Page 10 of 10
ATTACHMENT (5)
COST ESCALATIONS FROM SITE-SPECIFIC DECOMMISSIONING COST ESTIMATES TO DECEMBER 31, 2013 DOLLARS Constellation Energy Nuclear Group, LLC March 26, 2014
Constellation Energy Nuclear Group (CENG)
Cost Escalations from Site-Specific Decommissioning Cost Estimates to December 31, 2013 Dollars Dollars in Thousands The purpose of this Attachment (5) is to calculate the increases in the NRC Minimum for each site from December 31, 2008 to December 31, 2013, as presented in the table below. These increases are applied as the compound cost escalation factors to the estimated costs in Scenario I and Scenario 3 of the respective Cost Studies (in 2009 dollars) to escalate them to December 31, 2013 dollars. For consistency, since there have been uprates in the MWth of certain units, the 1986 baseline MWth have been adjusted to the MWth as of December 31, 2013 to calculate the NRC Minimum increases absent the effect of the uprates.
Calvert Cliffs Nine Mile Point Date Unit 1 Unit 2 Unit 1 Unit 2 Ginna Increase in NRC Minimum from December 31, 2008 to December 31, 2013 NRC Minimum based on MWths as of December 31, 2013 and indices and cost factors as of:
AA From Row X of Attachment (2) 12/31/2013
$488,909 S488,909 S620,778
$694,613
$459,870 BB From Row X on page 2 of Attachment (5) 12/31/2008
$377,655
$377,655
$511,020
$571,801
$357,231 CC Compound cost escalation factor [= AA / BB]
1.2946 1.2946 1.2148 1.2148 1.2873 Attachment (5) Page 1 of 2
Constellation Energy Nuclear Group (CENG)
NRC Minimum Calculations as of December 31, 2008 (Except Using MWth as of December 31, 2013)
Dollars in Thousands Calvert Cliffs Nine Mile Point Date Unit 1 Unit 2 Unit 1 Unit 2 Ginna Operating region Type of reactor unit South PWR South PWR Northeast BWR Northeast Northeast BWR PWR NRC Minimum (in 1986 $000s):
A MWth 12/31/2013 B
Variable cost per MWth 10 CFR 50. 75(c)
C Total variable cost [= A x B]
D Fixed cost 10 CFR 50. 75(c)
E Total cost ceiling 10 CFR 50.75(c)
F NRC Minimum (in 1986 $000s)
[=MIN(C +D, E)per 10 CFR 50.75(c)]
Jan-1986 NRC Minimum escalation factors:
G Labor weight Employee cost index (ECI)
H Base factor (L Dc-2005)
Dec-2005 I
Current ECI (100=lx factor)
Dec-2008*
J Labor cost escalation factor (L Qtr4-2008) [= H x I / 100]
K Energy weight L
Power weight by reactor type (within energy)
Power index (P0 )
M Base index (P Jan-1986)
Jan-1986 N
Current P. (100=1 x factor)
Dec-2008*
0 Current escalation factor (P Dec-2008(P)) [= N / M]
P Fuel oil weight by reactor type (within energy)
Power index (F0)
Q Base index (F Jan-1986)
Jan-1986 R
Current Fx (100=lx factor)
Dec-2008*
S Current escalation factor (F Dec-2008(P)) [= R / Q]
T Energy weighted average cost escalation factor
[= (L x 0) + (P x S)]
U Burial weight NUREG-1307 Rev. 15 Table 2-1 (by reactor type):
V Burial cost escalation factor (Bx)
Year 2008*
2,737
$8.800
$24,086
$75,000
$105,000 2,737
$8.800
$24,086
$75,000
$105,000 1,850
$9.000
$16,650
$104,000
$135,000 3,988
$9.000
$35,892
$104,000
$135,000 1,775
$8.800
$15,620
$75,000
$105,000
$99,086
$99,086
$120,650
$135,000
$90,620 0.65 0.65 0.65 0.65 0.65 LNDEX (South) = CIU20100000002201 LINDEX (Northeast) = CIU20100000002101 1.98 1.98 2.16 2.16 2.16 109.3 109.3 109.5 109.5 109.5 2.16414 2.16414 2.36520 2.36520 2.36520 0.13 0.13 0.13 0.13 0.13 0.58 0.58 0.54 0.54 0.58 PPlndex (Industrial electric power) = wpu0543 114.2 114.2 114.2 114.2 114.2 188.3 188.3 188.3 188.3 188.3 1.648861646 1.648861646 1.648861646 1.648861646 1.648861646 0.42 0.42 0.46 0.46 0.42 PPlndex (Light fuel oils) = wpu0573 82.0 82.0 82.0 82.0 82.0 163.0 163.0 163.0 163.0 163.0 1.987804878 1.987804878 1.987804878 1.987804878 1.987804878 1.791217803 1.791217803 1.804775533 1.804775533 1.791217803 0.22 0.22 0.22 0.22 0.22 Generic LLW Disposal Site Combination ofCompact-Affiliated and Non-Compact Facility 9.872 9.872 11.198 11.198 9.872 W
Combined weighted average escalation factor
[= (G x J) + (K x T) + (U x V)]
X NRC Minimum (as of December 31, 2008, except MWth as of December 31, 2013) [= F x W]
3.811389314 3.811389314 4.235560819 4.235560819 3.942078314
$377,655
$377,655
$511,020
$571,801
$357,231
- The indices and cost escalation factors in this Attachment (5) are as of December 2008 (as noted on the rows above with the asterisks), but the MWth used in calculating the NRC Minimum in 1986 dollars are as of December 31, 2013. Except for the December 2008 inputs and their resulting calculated amounts, all other inputs above are the same as/the respective inputs in Attachment (3).
Attachment (5) Page 2 of 2