CNRO-2016-00010, Entergy Nuclear Operations, Inc. - Decommissioning Funding Status Report, Per 10 CFR 50.75(f)(1) and 10 CFR 50.82(a)(8)(v)
| ML16090A355 | |
| Person / Time | |
|---|---|
| Site: | Indian Point, Pilgrim, Vermont Yankee, Big Rock Point, FitzPatrick  |
| Issue date: | 03/30/2016 |
| From: | Mccann J Entergy Nuclear Operations |
| To: | Document Control Desk, Office of Nuclear Material Safety and Safeguards, Office of Nuclear Reactor Regulation |
| References | |
| CNRO-2016-00010 | |
| Download: ML16090A355 (33) | |
Text
Entergy Nuclear Operations, Inc.
1340 Echelon Parkway Jackson, MS 39213 Tel: 601-368-5667 John F. McCann Vice President, Regulatory Assurance CNRO-2016-00010 March 30, 2016 U.S. Nuclear Regulatory Commission Attn: Document Control Desk 11555 Rockville Pike Rockville, MD 20852-2738
SUBJECT:
Decommissioning Funding Status Report per 10 CFR §50.75(f)(1) and 10 CFR 50.82(a)(8)(v) -- Entergy Nuclear Operations, Inc.
Big Rock Point Indian Point Nuclear Docket No. 50-155 Generating Stations 1, 2, & 3 Docket Nos. 50-3, 50-247, & 50-286 James A. FitzPatrick Pilgrim Nuclear Power Station Nuclear Power Plant Docket 50-293 Docket No. 50-333 Vermont Yankee Nuclear Power Station Docket No. 50-271
REFERENCES:
- 1.
NUREG-1307, Report on Waste Burial Charges, Revision 15, dated January 2013.
- 2.
NRC Regulatory Issue Summary 2001-07, 10 CFR 50.75(f)(1) Reports on the Status of Decommissioning Funds (Due March 31, 2001).
- 3.
NRC Regulatory Issue Summary 2014-12, Decommissioning Fund Status Report Calculations.
Dear Sir or Madam:
10 CFR 50.75(f)(1) requires each power reactor licensee to report to the NRC by March 31, 1999, and every two years thereafter with certain exception, on the status of its decommissioning funding for each reactor, or share of a reactor, that it owns. 10 CFR 50.82(a)(8)(v) requires licensees of shutdown sites to report to the NRC annually, by March 31, on the status of decommissioning financial assurance for those sites. On behalf of Entergy Nuclear Indian Point 2, LLC (Indian Point 1 & 2), Entergy Nuclear Indian Point 3, LLC, Entergy Nuclear Vermont Yankee, LLC, Entergy Nuclear Generation Company (Pilgrim Station), Entergy Nuclear FitzPatrick, LLC, and Entergy Nuclear Palisades, LLC (Big Rock Point), Entergy Nuclear Operations, Inc. hereby submits the information requested for power reactors operated by Entergy Nuclear Operations, Inc. The reports provided in Attachments 1 through 11 for the seven licensed facilities addressed by this filing, were prepared in accordance with NUREG-1307 (Reference 1) and NRC Regulatory Issue Summary 2001-07 (Reference 2). Attachments
CNRO-2016-00010 Page 2 of 4 12 and 13 are updated site specific decommissioning cost estimates for Indian Point Unit 1 and Vermont Yankee, respectively. The Minimum Funding Assurance calculation worksheets, derived from LIC-205, Rev. 4, are provided in Attachment 14 for the convenience of the reviewer.
The estimated minimum decommissioning fund values were determined using the NRCs methodology in NUREG-1307, Rev 15. Pursuant to NRC Regulatory Issue Summary 2014-12, Entergy Nuclear Operations, Inc. understands that the NRC has directed licensees to use NUREG-1307, Rev. 15 for this filing.
The trust fund amounts reported for each facility in the responses to item 3 represent the market value of decommissioning trust funds as of December 31, 2015 net of any material current income tax liability on realized gains, interest, dividends and other income of the trusts. The New York Power Authority (NYPA) holds the decommissioning trust funds for Indian Point 3 and FitzPatrick. NYPA is a state agency, and the decommissioning trust funds held by NYPA are not subject to taxes. The trusts for the following plants had estimated balances on their 2015 tax liabilities, not reflected in the trust fund balances, as follows (in thousands):
Indian Point 1
$ 0 Indian Point 2
$ 0 Indian Point 3
$ 0 Vermont Yankee $ 0 Pilgrim
$272 FitzPatrick
$ 0 Palisades
$ 0 In accordance with guidance provided by the NRC Staff in April 2014 requests for additional information (Accession No. ML14120A273) that future 10 CFR 50.75(f) reports should clearly delineate estimate reactor and ISFSI decommissioning costs, the information in Attachments 1, 2, 3, 5, 7, 9, and 11 includes line item 2 identifying the ISFSI decommissioning obligation, escalated from the most recent 10 CFR 72.30 filing. This obligation is also accounted for in the Excess/Shortfall calculations for each plant in Attachment 14.
The aforementioned worksheets, using the December 31, 2015 trust fund balances and parent guarantee amounts, indicate that all of the plants covered by this submittal met or exceeded the NRCs funding requirements. Accordingly, the licensees conclude that no further action is required at this time to demonstrate adequate funding assurance for decommissioning the plants covered by this submittal.
There are no new commitments made in this letter. If you have any questions, please contact Mr. Guy Davant, Manager, Fleet Licensing Programs at (601) 368-5756.
Sincerely, JFM / ghd / ljs
CNRO-2016-00010 Page 3 of 4 Attachments:
- 1.
Entergy Nuclear Operations, Inc. Status of Decommissioning Funding - Indian Point 1
- 2.
Entergy Nuclear Operations, Inc. Status of Decommissioning Funding - Indian Point 2
- 3.
Entergy Nuclear Operations, Inc. Status of Decommissioning Funding - Indian Point 3
- 4.
Entergy Nuclear Operations, Inc. Calculation of Minimum Amount - Indian Point
- 5.
Entergy Nuclear Operations, Inc. Status of Decommissioning Funding - Vermont Yankee
- 6.
Entergy Nuclear Operations, Inc. Calculation of Minimum Amount - Vermont Yankee
- 7.
Entergy Nuclear Operations, Inc. Status of Decommissioning Funding - Pilgrim
- 8.
Entergy Nuclear Operations, Inc. Calculation of Minimum Amount - Pilgrim
- 9.
Entergy Nuclear Operations, Inc. Status of Decommissioning Funding - James A. Fitzpatrick
- 10. Entergy Nuclear Operations, Inc. Calculation of Minimum Amount - James A. Fitzpatrick
- 11. Entergy Nuclear Operations, Inc. Status of Decommissioning Funding - Big Rock Point
- 12. Entergy Nuclear Operations, Inc. IP1 DTF Balance Based on Decommissioning Funding Assurance Plan
- 13. Entergy Nuclear Operations, Inc. Vermont Yankee Annual Cash Flow Analysis
- 14. Entergy Nuclear Operations, Inc. Minimum Financial Assurance Calculation Worksheets cc: See next page
CNRO-2016-00010 Page 4 of 4 cc:
Mr. J. A. Aluise (ENT)
Mr. C. Bakken (ECH)
Mr. B. E. Green (TMBR)
Mr. D. J. Mannai (WPO)
Mr. J. F. McCann (WPO)
Mr. T. G. Mitchell (ECH)
Mr. L. Jager Smith (ECH)
Mr. J. A. Ventosa (ECH)
Mr. M. Perito (ECH)
Mr. B. Sullivan (JAF)
Mr. J. Dent (PIL)
Mr. L. Coyle (IPEC)
Mr. A. J. Vitale (PAL)
Mr. C. J. Wamser (VTY)
USNRC Regional Administrator, Region I USNRC Regional Administrator, Region III USNRC Project Manager, Indian Point 1 USNRC Project Manager, Indian Point 2 / 3 USNRC Project Manager, J. A. FitzPatrick USNRC Project Manager, Palisades USNRC Project Manager, Pilgrim USNRC Project Manager, Vermont Yankee USNRC Resident Inspector, Indian Point 2 / 3 USNRC Resident Inspector, J. A. FitzPatrick USNRC Resident Inspector, Palisades USNRC Resident Inspector, Pilgrim USNRC Resident Inspector, Vermont Yankee Michigan Department of Environmental Quality Michigan Public Service Commission NYS Department of Public Service Vermont Department of Public Service Massachusetts Emergency Management Agency CNRO-2016-00010 (Page 1 of 2)
Entergy Nuclear Operations, Inc.
Status of Decommissioning Funding - Indian Point 1 For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1) and 10 CFR 50.82(a)(8)(v)
Plant Name: Indian Point Nuclear Generating Unit No. 1 10 CFR 50.75(f)(1)
- 1. Minimum Financial Assurance (MFA) estimated per 10 CFR 50.75(b) and (c) (2015$)
- 2. ISFSI Obligation as of 12/31/15
$556.76 million [Note1]
$0.64 million [Note2]
- 3. Decommissioning Trust Fund Total as of 12/31/15
$ 413.92 million
- 4.
A schedule of the annual amounts remaining to be collected None
- 5.
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 2% annual real rate of return per 10 CFR 50.75(e)(1)(i)
- 6.
Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v)
None
- 7.
Modifications occurring to a licensee's current method of providing financial assurance since the last submitted report None
- 8.
Any material changes to trust agreements None Note 1: This amount is based upon total SAFSTOR expenditures for radiological remediation and license termination set forth in the updated Decommissioning Funding Assurance Plan and SAFSTOR analysis that are provided in Attachment 12. (Calculation of the NRC Minimum Amount is provided in Attachment 4.)
Note 2: From 10 CFR 50.82(a)(8)(vii) filing for Indian Point 1 of March 2016 CNRO-2016-00010 (Page 2 of 2)
Entergy Nuclear Operations, Inc.
Status of Decommissioning Funding - Indian Point 1 For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1) and 10 CFR 50.82(a)(8)(v)
Plant Name: Indian Point Nuclear Generating Unit No. 1 10 CFR 50.82(a)(8)(v)
- 1. Cumulative decommissioning spending
$94.28 million [Note1]
- 2. 2015 decommissioning spending
$5.66 million [Note1]
- 3.
Fund Balance See above in 10 CFR 50.75 information
- 4.
No other financial assurance mechanism is being relied upon, but costs through 12/31/2015 have been funded by operations, and not the decommissioning fund.
- 5.
Estimated costs to complete from latest estimate
$556.76 million [Note2]
- 6.
Estimate is based on unrestricted release of the site per 10 CFR 20.1402
- 7.
Modifications to financial assurance since last report See above in 10 CFR 50.75 information
- 8.
Any material changes to trust agreements See above in 10 CFR 50.75 information Note 1: Entergy does not possess records that would permit determination of charges to IP1 prior to its acquisition in September 2001 by Entergy Nuclear Indian Point 2, LLC. The costs presented here represent those costs charged in 2015 and the total costs that have been assigned to IP1 since 2001. Entergy has not fully determined what portion of those costs would be considered decommissioning costs as that term is defined in 10 CFR 50.2. Cumulative and 2015 decommissioning spending only consists of costs related to license termination. In previous filings, cumulative and annual decommissioning costs have included costs related to spent fuel management operations.
Note 2: This amount is based upon total SAFSTOR expenditures for radiological remediation and license termination set forth in the updated Decommissioning Funding Assurance Plan and SAFSTOR analysis that are provided in Attachment 12. (Calculation of the NRC Minimum Amount is provided in Attachment 4.) This estimate does not include 2015 spending because current costs are being paid out of operating funds.
CNRO-2016-00010 (Page 1 of 1)
Entergy Nuclear Operations, Inc.
Status of Decommissioning Funding - Indian Point 2 For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1)
Plant Name: Indian Point Nuclear Generating Unit No. 2
- 1. Minimum Financial Assurance (MFA) estimated per 10 CFR 50.75(b) and (c) (2015$)
$521.34 million [Note 1]
- 2. ISFSI Obligation as of 12/31/15
- 3. Decommissioning Trust Fund Total as of 12/31/15
$6.16 million [Note 2]
$529.05 million [Note 3]
- 4.
A schedule of the annual amounts remaining to be collected None
- 5.
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 2% annual real rate of return per 10 CFR 50.75(e)(1)(i)
- 6.
Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v)
None
- 7.
Modifications occurring to a licensee's current method of providing financial assurance since the last submitted report None
- 8.
Any material changes to trust agreements None Note 1: Calculation of the NRC Minimum Amount is provided in Attachment 4.
Note 2: From 10 CFR 50.82(a)(8)(vii) filing for Indian Point 2 of March 2016 Note 3: Includes provisional fund balance of $32.14 million.
CNRO-2016-00010 (Page 1 of 1)
Entergy Nuclear Operations, Inc.
Status of Decommissioning Funding - Indian Point 3 For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1)
Plant Name: Indian Point Nuclear Generating Unit No. 3
- 1. Minimum Financial Assurance (MFA) estimated per 10 CFR 50.75(b) and (c) (2015$)
$521.34 million [Note 1]
- 2. ISFSI Obligation as of 12/31/15
- 3. Decommissioning Trust Fund Total as of 12/31/15
$6.79 million [Note 2]
$ 683.84 million
- 4.
A schedule of the annual amounts remaining to be collected None
- 5.
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 2% annual real rate of return per 10 CFR 50.75(e)(1)(i)
- 6.
Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v)
None
- 7.
Modifications occurring to a licensee's current method of providing financial assurance since the last submitted report None
- 8.
Any material changes to trust agreements None Note 1: Calculation of the NRC Minimum Amount is provided in Attachment 4.
Note 2: From Entergys ISFSI Decommissioning Funding Plans pursuant to 10 CFR 72.30, December 17, 2015 (Accession No. ML15351A524)
CNRO-2016-00010 (Page 1 of 1)
Entergy Nuclear Operations, Inc.
Calculation of Minimum Amount - Indian Point For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1)
Entergy Nuclear Indian Point 2, LLC: 100% ownership interest of Indian Point 1 & 2 Entergy Nuclear Indian Point 3, LLC: 100% ownership interest of Indian Point 3 Plant Location: Buchanan, New York Reactor Type: Pressurized Water Reactor (PWR)
Indian Point Unit 1 Power Level: <3,400 MWt (615 MWt)
Indian Point Unit 1 PWR Base Year 1986$: $85,560,000 Indian Point Unit 2 Power Level: <3,400 MWt (3,216 MWt)
Indian Point Unit 2 PWR Base Year 1986$: $103,300,800 Indian Point Unit 3 Power Level: <3,400 MWt (3,216 MWt)
Indian Point Unit 3 PWR Base Year 1986$: $103,300,800 Labor Region: North Waste Burial Facility: Generic Disposal Site 10CFR50.75(c)(2) Escalation Factor Formula:
0.65(L) +0.13(E) +0.22(B)
Factor L=Labor (North) 2.711 E=Energy (PWR) 1.762 B=Waste Burial-Vendor (PWR) 13.8853 PWR Escalation Factor:
0.65(L) +0.13(E) +0.22(B)=
5.04684 1986 PWR Base Year $ Escalated:
Indian Point 1: $85,560,000
- Factor=
$431,807,460 Indian Point 2 & 3: $103,300,800
- Factor=
$521,342,404 1
Bureau of Labor Statistics, Series Report ID: CIU2010000000210i (4th Quarter 2015) 2 Bureau of Labor Statistics, Series Report ID: wpu0543 and wpu0573 (December 2015) 3 Nuclear Regulatory Commission: NUREG-1307 Revision 15, Table 2.1 (2013)
CNRO-2016-00010 (Page 1 of 2)
Entergy Nuclear Operations, Inc.
Status of Decommissioning Funding Vermont Yankee For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1) and 10 CFR 50.82(a)(8)(v)
Plant Name: Vermont Yankee Nuclear Power Station 10 CFR 50.75(f)(1)
- 1. Minimum Financial Assurance (MFA) estimated per 10 CFR 50.75(b) and (c) (2015$)
$ 740.52 million [Note 1]
- 2. ISFSI Obligation as of 12/31/15
- 3. Decommissioning Trust Fund Total as of 12/31/15
$5.05 million [Note 2]
$ 595.44 million
- 4.
A schedule of the annual amounts remaining to be collected None
- 5.
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 2% annual real rate of return per 10 CFR 50.75(e)(1)(i)
- 6.
Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v)
None
- 7.
Modifications occurring to a licensee's current method of providing financial assurance since the last submitted report None
- 8.
Any material changes to trust agreements None Note 1: This amount is based upon total SAFSTOR expenditures for radiological remediation and license termination set forth in the updated Decommissioning Funding Assurance Plan and SAFSTOR analysis provided in Attachment 13. (Calculation of the NRC Minimum Amount is provided in Attachment 6).
Note 2: From Entergys ISFSI Decommissioning Funding Plans Pursuant to 10 CFR 72.30, December 17, 2015 (Accession No. ML15351A524).
Note 3: Since the last submitted report, Entergy Nuclear Vermont Yankee, LLC canceled a $40 million parent guarantee that previously provided decommissioning financial assurance for Vermont Yankee, based on the establishment of certain lines of credit. In a letter from the NRC to Entergy Nuclear Operations, Inc., and Vermont Yankee Nuclear Power Station dated April 21, 2015, the NRC determined that Entergy Corporation had complied with the general requirements of 10 CFR 30 Appendix A (III)(A) and granted Entergy Corporation the right to cancel the $40 million parent company guarantee for Vermont Yankee (Accession No. ML15107A074).
CNRO-2016-00010 (Page 2 of 2)
Entergy Nuclear Operations, Inc.
Status of Decommissioning Funding Vermont Yankee For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1) and 10 CFR 50.82(a)(8)(v)
Plant Name: Vermont Yankee Nuclear Power Station 10 CFR 50.82(a)(8)(v)
- 1. Cumulative decommissioning spending through 12/31/2015
$ 74.35 million [Note1]
- 2. 2015 decommissioning spending
$ 59.57 million [Note2]
- 3.
Fund Balance See above in 10 CFR 50.75 information
- 4.
No other financial assurance mechanism is being relied upon.
- 5.
Estimated costs to complete from latest estimate
$ 740.52 million
- 6.
Estimate is based on unrestricted release of the site per 10 CFR 20.1402
- 7.
Modifications to financial assurance since last report See above in 10 CFR 50.75 information
- 8.
Any material changes to trust agreements See above in 10 CFR 50.75 information Note 1: Some decommissioning costs have been paid by the parent company, and not refunded from the decommissioning trust.
Note 2: This estimate only includes 2015 decommissioning costs. 2014 costs are included in item 1 and have been reimbursed in 2015.
CNRO-2016-00010 (Page 1 of 1)
Entergy Nuclear Operations, Inc.
Calculation of Minimum Amount - Vermont Yankee For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1)
Entergy Nuclear Vermont Yankee LLC.: 100% ownership interest Plant Location: Vernon, Vermont Reactor Type: Boiling Water Reactor (BWR)
Power Level: <3,400 MWt (1912 MWt)
BWR Base Year 1986$: $121,208,000 Labor Region: North Waste Burial Facility: Generic Disposal Site 10CFR50.75(c)(2) Escalation Factor Formula:
0.65(L) +0.13(E) +0.22(B)
Factor L=Labor (North) 2.711 E=Energy (BWR) 1.752 B=Waste Burial-Vendor (BWR) 14.1603 BWR Escalation Factor:
0.65(L) +0.13(E) +0.22(B)=
5.10582 1986 BWR Base Year $ Escalated:
$121,208,000
- Factor=
$618,866,471 1
Bureau of Labor Statistics, Series Report ID: CIU2010000000210i (4th Quarter 2015) 2 Bureau of Labor Statistics, Series Report ID: wpu0543 and wpu0573 (December 2015) 3 Nuclear Regulatory Commission: NUREG-1307 Revision 15, Table 2.1 (2013)
CNRO-2016-00010 (Page 1 of 1)
Entergy Nuclear Operations, Inc.
Status of Decommissioning Funding - Pilgrim For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1)
Plant Name: Pilgrim Nuclear Power Station
- 1. Minimum Financial Assurance (MFA) estimated per 10 CFR 50.75(b) and (c) (2015$)
- 2.
ISFSI Obligation as of 12/31/15
$ 624.20 million [Note 1]
$8.98 million [Note 2]
- 3. Decommissioning Trust Fund Total as of 12/31/15
$ 895.71 million
- 4.
A schedule of the annual amounts remaining to be collected None
- 5.
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 2% annual real rate of return per 10 CFR 50.75(e)(1)(i)
- 6.
Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v)
None
- 7.
Modifications occurring to a licensee's current method of providing financial assurance since the last submitted report None
- 8.
Any material changes to trust agreements None Note 1: Calculation of the NRC Minimum Amount is provided in Attachment 8.
Note 2: From Entergys ISFSI Decommissioning Funding Plans Pursuant to 10 CFR 72.30, December 17, 2015 (Accession No. ML15351A524).
CNRO-2016-00010 (Page 1 of 1)
Entergy Nuclear Operations, Inc.
Calculation of Minimum Amount - Pilgrim For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1)
Entergy Nuclear Generation Co.: 100% ownership interest Plant Location: Plymouth, Massachusetts Reactor Type: Boiling Water Reactor (BWR)
Power Level: <3,400 MWt (2028 MWt)
BWR Base Year 1986$: $122,252,000 Labor Region: North Waste Burial Facility: Generic Disposal Site 10CFR50.75(c)(2) Escalation Factor Formula:
0.65(L) +0.13(E) +0.22(B)
Factor L=Labor (North) 2.711 E=Energy (BWR) 1.752 B=Waste Burial-Vendor (BWR) 14.1603 BWR Escalation Factor:
0.65(L) +0.13(E) +0.22(B)=
5.10582 1986 BWR Base Year $ Escalated:
$122,252,000
- Factor=
$624,196,949 1
Bureau of Labor Statistics, Series Report ID: CIU2010000000210i (4th Quarter 2015) 2 Bureau of Labor Statistics, Series Report ID: wpu0543 and wpu0573 (December 2015) 3 Nuclear Regulatory Commission: NUREG-1307 Revision 15, Table 2.1 (2013)
CNRO-2016-00010 (Page 1 of 1)
Entergy Nuclear Operations, Inc.
Status of Decommissioning Funding - James A. Fitzpatrick For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1)
Plant Name: James A. Fitzpatrick Nuclear Power Plant
- 1. Minimum Financial Assurance (MFA) estimated per 10 CFR 50.75(b) and (c) (2015$)
- 2.
ISFSI Obligation as of 12/31/15
$ 647.54 million [Note 1]
$ 8.17 million [Note 2]
- 3. Decommissioning Trust Fund Total as of 12/31/15
$ 746.19 million
- 4.
A schedule of the annual amounts remaining to be collected None
- 5.
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 2% annual real rate of return per 10 CFR 50.75(e)(1)(i)
- 6.
Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v)
None
- 7.
Modifications occurring to a licensee's current method of providing financial assurance since the last submitted report None
- 8.
Any material changes to trust agreements None Note 1: Calculation of the NRC Minimum Amount is provided in Attachment 10.
Note 2: From Entergys ISFSI Decommissioning Funding Plans Pursuant to 10 CFR 72.30, December 17, 2015 (Accession No. ML15351A524).
0 CNRO-2016-00010 (Page 1 of 1)
Entergy Nuclear Operations, Inc.
Calculation of Minimum Amount - James A. Fitzpatrick For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1)
Entergy Nuclear FitzPatrick LLC.: 100% ownership interest Plant Location: Oswego, New York Reactor Type: Boiling Water Reactor (BWR)
Power Level: <3,400 MWt (2536 MWt)
BWR Base Year 1986$: $126,824,000 Labor Region: North Waste Burial Facility: Generic Disposal Site 10CFR50.75(c)(2) Escalation Factor Formula:
0.65(L) +0.13(E) +0.22(B)
Factor L=Labor (North) 2.711 E=Energy (BWR) 1.752 B=Waste Burial-Vendor (BWR) 14.1603 BWR Escalation Factor:
0.65(L) +0.13(E) +0.22(B)=
5.10582 1986 BWR Base Year $ Escalated:
$126,824,000
- Factor=
$647,540,768 1
Bureau of Labor Statistics, Series Report ID: CIU2010000000210i (4th Quarter 2015) 2 Bureau of Labor Statistics, Series Report ID: wpu0543 and wpu0573 (December 2015) 3 Nuclear Regulatory Commission: NUREG-1307 Revision 15, Table 2.1 (2013) 1 CNRO-2016-00010 (Page 1 of 1)
Entergy Nuclear Operations, Inc.
Status of Decommissioning Funding - Big Rock Point For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1)
Plant Name: Big Rock Point ISFSl
- 1.
Amount of decommissioning funds required from most recent estimate (2015 dollars).
$ 2.43 million [Note 1]
- 2.
Decommissioning Funding Assurance Method.
Parent Guarantee ($5 million)
- 3.
A schedule of the annual amounts remaining to be collected None
- 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 Escalation rate: CPIU Rate of earnings: n/a
- 5.
Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v)
None
- 6.
Modifications occurring to a licensee's current method of providing financial assurance since the last submitted report None
- 7.
Any material changes to trust agreements None Note 1: See 10 CFR §72.30 filing for Big Rock Point, dated December 17, 2015, Accession No. ML15351A524.
2 CNRO-2016-00010 (Page 1 of 4)
Entergy Nuclear Operations, Inc.
IP1 DTF Balance Based on Decommissioning Funding Assurance Plan For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1)
On October 23, 2008, Entergy Nuclear Indian Point 2, LLC (ENIP2) submitted a preliminary decommissioning cost analysis to the NRC in conjunction with its spent fuel management plan under 10 CFR 50.75(f)(3) and 10 CFR 50.54(bb) (Accession No. ML083040378, as supplemented by ENIP2's reply to RAIs on July 15, 2009 (Accession No. ML092050204). The preliminary decommissioning cost analysis contained separate site-specific decommissioning cost estimates for Indian Point 1 and Indian Point 2. The estimates were subsequently found to be reasonable by the NRC on March 17, 2010 (Accession No. ML100280544).
Pursuant to Regulatory Guide 1.159, Revision 2, adjustment to the site-specific cost estimates should be made at least once a year for the effects of inflation. Adjustment to site-specific cost estimates for the effects of technological and status changes should be made according to the amount of change experienced, as appropriate, but in no event, less than once every 5 years.
As such, ENIP2 has updated the aforementioned estimates consistent with the requirements of Regulatory Guide 1.159, Revision 2.
ENIP2 has determined that use of a SAFSTOR analysis shows that there is presently reasonable assurance that adequate funds will be available for the decommissioning process in compliance with NRC decommissioning funding assurance rules.
Pursuant to 10 CFR 50.75(e)(1)(i), "A licensee that has prepaid funds based on a site-specific estimate under § 50.75(b)(1) of this section may take, credit for projected earnings on the prepaid decommissioning trust funds, using up to a 2 percent annual real rate of return from the time of future funds' collection through the projected decommissioning period, provided that the site-specific estimate is based on a period of safe storage that is specifically described in the estimate." ENIP2 understands that a facility-specific analysis may be used for demonstrating the adequacy of decommissioning funds, provided that "the NRC-required cost estimate for decommissioning costs as defined in 10 CFR 50.2 is equal to or greater than the amount stated in the formulas in 10 CFR 50.75(c)(1) and (2) as the basis for justifying a higher than minimum funding level." (Regulatory Guide 1.159 Rev. 2, Section 1.1.1) ENIP2 also understands that NRC should be provided the analysis, and that the analysis should include data for each year of the analysis.
The updated Indian Point 1 site-specific decommissioning cost estimate is based on a period of safe storage that is specifically described in the estimate, namely storage until 2073, at which time the plant will be decommissioned and the site released for alternative use without restriction. Table 12-1 below provides the annual license termination costs computed in the updated estimate. These costs to date have been funded by operations, and not by the decommissioning fund. The decommissioning trust fund (DTF) ending balance is escalated each year by the 2% real growth figure allowed pursuant to 10 CFR 50.75(e)(1)(i).
2 CNRO-2016-00010 (Page 2 of 4)
Entergy Nuclear Operations, Inc.
IP1 DTF Balance Based on Decommissioning Funding Assurance Plan For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1)
Table 12-1 NRC License Termination Cost
($ millions) 2015 $ Unit 1 Radiological Ending DTF Balance 2015 413.921 2016 0.951 421.248 2017 3.804 425.869 2018 3.804 430.582 2019 3.815 435.379 2020 3.804 440.282 2021 3.804 445.283 2022 3.804 450.385 2023 3.815 455.578 2024 3.804 460.885 2025 3.804 466.298 2026 3.804 471.820 2027 3.815 477.442 2028 3.804 483.186 2029 3.804 489.045 2030 3.804 495.022 2031 3.815 501.108 2032 3.804 507.326 2033 3.804 513.668 2034 3.804 520.137 2035 3.815 526.725 2036 3.804 533.455 2037 3.804 540.320 2038 3.804 547.322 2039 3.815 554.453 2040 3.804 561.738 2041 3.804 569.169 2042 3.804 576.748 2043 3.815 584.468 2044 3.804 592.353 2045 3.804 600.396 2046 3.804 608.599 2047 3.815 616.957 2048 3.804 625.491 2049 3.804 634.197 2050 3.804 643.076 2051 3.815 652.123 2
CNRO-2016-00010 (Page 3 of 4)
Entergy Nuclear Operations, Inc.
IP1 DTF Balance Based on Decommissioning Funding Assurance Plan For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1)
Table 12-1 NRC License Termination Cost
($ millions) 2015 $ Unit 1 Radiological Ending DTF Balance 2052 3.804 661.361 2053 3.804 670.784 2054 3.804 680.396 2055 3.815 690.189 2056 3.804 700.188 2057 3.804 710.388 2058 3.804 720.791 2059 3.815 731.392 2060 3.815 742.205 2061 3.804 753.245 2062 3.804 764.506 2063 3.804 775.992 2064 3.815 787.697 2065 28.011 775.440 2066 61.646 729.303 2067 102.982 640.907 2068 109.450 544.275 2069 15.770 539.390 2070 15.792 534.386 2071 15.792 529.282 2072 15.835 524.033 2073 7.788 526.726 Total 556.759 2
CNRO-2016-00010 (Page 4 of 4)
Entergy Nuclear Operations, Inc.
IP1 DTF Balance Based on Decommissioning Funding Assurance Plan For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1)
As can be seen from the information provided in Table 12-1, the required funding for SAFSTOR decommissioning, $556.76 million, is greater than the NRC formula amount per 10 CFR 50.75(b) and (c) of $431.81 million, therefore, the site-specific analysis complies with the requirement from Regulatory Guide 1.159 section 1.1.1 previously discussed. The foregoing SAFSTOR analysis shows that when the December 31, 2015 DTF balance is escalated at the allowable rate and compared against the annual figures for the SAFSTOR period, that an approximately $526.73 million surplus exists at the end of the decommissioning project.
Accordingly, ENIP2 concludes that no further action is required at this time to demonstrate adequate funding assurance for decommissioning Indian Point 1.
3 CNRO-2016-00010 (Page 1 of 6)
Entergy Nuclear Operations, Inc.
Vermont Yankee Annual Cash Flow Analysis For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1)
Vermont Yankee Nuclear Power Station (Vermont Yankee) permanently ceased operations on December 29, 2014. The Vermont Yankee decommissioning trust fund balance is approximately $595 million as of December 31, 2015. Tables 3.4 and 3.5 of the site-specific decommissioning cost estimate (Reference 1, Attachment 1) set forth the estimated annual expenditures for license termination and spent fuel management, respectively. A cash flow analysis utilizing this annual expenditure information is included as Table 13-1.
The cash flow analysis demonstrates that the Vermont Yankee decommissioning trust fund is sufficiently funded for all license termination activities and certain spent fuel management activities (i.e., operational costs). As discussed in the Irradiated Fuel Management Program Update (Reference 2) costs related to spent fuel management operations (e.g., operations and maintenance costs for the spent fuel pool and Independent Spent Fuel Storage Installation, totaling approximately $223 million) will be funded from the decommissioning trust fund.
Entergy Nuclear Operations, Inc. obtained an exemption that allows the use of trust funds for spent fuel management activities (NRC Approval of Exemption Request for Spent Fuel Management, 80 Fed. Reg. 35992).
The licensee has determined that use of a SAFSTOR analysis shows that there is presently reasonable assurance that adequate funds will be available for the decommissioning process in compliance with NRC decommissioning funding assurance rules.
Pursuant to 10 CFR 50.75(e)(1)(i), "A licensee that has prepaid funds based on a site-specific estimate under § 50.75(b)(1) of this section may take credit for projected earnings on the prepaid decommissioning trust funds, using up to a 2 percent annual real rate of return from the time of future funds' collection through the projected decommissioning period, provided that the site-specific estimate is based on a period of safe storage that is specifically described in the estimate." The licensee understands that a facility-specific analysis may be used for demonstrating the adequacy of decommissioning funds, provided that "the NRC-required cost estimate for decommissioning costs as defined in 10 CFR 50.2 is equal to or greater than the amount stated in the formulas in 10 CFR 50.75(c)(1) and (2) as the basis for justifying a higher than minimum funding level." (Regulatory Guide 1.159 Rev. 2, Section 1.1.1.) The licensee also understands that NRC should be provided the analysis, and that the analysis should include data for each year of the analysis. An updated decommissioning estimate was provided with the licensees Post Shutdown Decommissioning Activities Report on December 19, 2014 (Accession No. ML14357A110).
The updated Vermont Yankee site-specific decommissioning cost estimate is based on a period of safe storage that is specifically described in the estimate, namely storage until approximately 2068, at which time the plant will be decommissioned and the site released for alternative use without restriction. Table 13-1 below provides the annual license termination and spent fuel management costs computed in the updated estimate. The decommissioning trust fund (DTF) ending balance is escalated each year by the 2% real growth figure allowed pursuant to 10 CFR 50.75(e)(1)(i).
3 CNRO-2016-00010 (Page 2 of 6)
Entergy Nuclear Operations, Inc.
Vermont Yankee Annual Cash Flow Analysis For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1)
Thus, considering the fund balance of $595 million, as of December 31, 2015, and projected fund earnings during the SAFSTOR period (assuming an annual 2% growth rate), the trust fund is expected to have an excess of $190.6 million after completion of license termination and the operational spent fuel management activities that will be funded by the trust fund.
REFERENCES:
- 1. Letter, Entergy Nuclear Operations, Inc. to USNRC, Post Shutdown Decommissioning Activities Report, BVY 14-078, dated December 19, 2014 (Accession No. ML14357A110).
- 2. Letter, Entergy Nuclear Operations, Inc. to USNRC, Update to Irradiated Fuel Management Program Pursuant to 10 CFR 50.54(bb), BVY 14-085, dated December 19, 2014 (Accession No. ML14358A251).
- 3. NRC Approval of Exemption Request for Spent Fuel Management, 80 Fed. Reg. 35992 (June 23, 2015)
Table 13-1 Vermont Yankee Nuclear Power Station - SAFSTOR Methodology Annual Cash Flow Analysis - Total License Termination, Spent Fuel Management less Dry Fuel Costs (In Thousands in 2015 Dollars) (see column definitions below)
Year Column 1 50.75 License Termination Cost
($000s)
Column 2 50.54 (bb)
Spent Fuel Management Cost
($000s)
Column 3 Exclude Dry Fuel Spent Fuel Management Cost
($000s)
Column 4 License Termination Cost plus Spent Fuel Management Cost less Dry Fuel Cost
($000s)
Column 5 Beginning of Year Trust Fund Balance
($000s)
Column 6 Withdraw
($000s)
Column 7 Contribute
($000s)
Column 8 Trust Fund Earnings
($000s)
Column 9 Year Ending Trust Fund Balance
($000s) 2016 48,305 75,778 53,820 70,263 595,443 70,263 10,504 535,683 2017 11,007 49,345 29,882 30,471 535,683 30,471 10,104 515,317 2018 9,704 41,277 19,752 31,229 515,317 31,229 9,682 493,769 2019 8,299 36,929 17,022 28,205 493,769 28,205 9,311 474,875 2020 17,779 27,680 17,625 27,834 474,875 27,834 8,941 455,982 2021 5,303 4,055 9,358 455,982 9,358 8,932 455,557 2022 5,251 4,055 9,307 455,557 9,307 8,925 455,176 2023 5,251 4,055 9,307 455,176 9,307 8,917 454,786 2024 3,676 4,066 7,742 454,786 7,742 8,941 455,985 2025 3,616 4,055 7,671 455,985 7,671 8,966 457,280 2026 3,761 4,055 7,816 457,280 7,816 8,989 458,453 2027 3,812 4,055 7,867 458,453 7,867 9,012 459,597 3
CNRO-2016-00010 (Page 3 of 6)
Entergy Nuclear Operations, Inc.
Vermont Yankee Annual Cash Flow Analysis For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1)
Table 13-1 Vermont Yankee Nuclear Power Station - SAFSTOR Methodology Annual Cash Flow Analysis - Total License Termination, Spent Fuel Management less Dry Fuel Costs (In Thousands in 2015 Dollars) (see column definitions below)
Year Column 1 50.75 License Termination Cost
($000s)
Column 2 50.54 (bb)
Spent Fuel Management Cost
($000s)
Column 3 Exclude Dry Fuel Spent Fuel Management Cost
($000s)
Column 4 License Termination Cost plus Spent Fuel Management Cost less Dry Fuel Cost
($000s)
Column 5 Beginning of Year Trust Fund Balance
($000s)
Column 6 Withdraw
($000s)
Column 7 Contribute
($000s)
Column 8 Trust Fund Earnings
($000s)
Column 9 Year Ending Trust Fund Balance
($000s) 2028 3,770 4,066 7,836 459,597 7,836 9,035 460,796 2029 3,761 4,055 7,816 460,796 7,816 9,060 462,040 2030 3,812 4,055 7,867 462,040 7,867 9,083 463,256 2031 3,761 4,055 7,816 463,256 7,816 9,109 464,548 2032 3,770 4,066 7,836 464,548 7,836 9,134 465,846 2033 3,812 4,055 7,867 465,846 7,867 9,160 467,139 2034 3,761 4,055 7,816 467,139 7,816 9,186 468,509 2035 3,761 4,055 7,816 468,509 7,816 9,214 469,906 2036 3,821 4,066 7,887 469,906 7,887 9,240 471,259 2037 3,761 4,055 7,816 471,259 7,816 9,269 472,712 2038 3,761 4,055 7,816 472,712 7,816 9,298 474,194 2039 3,812 4,055 7,867 474,194 7,867 9,327 475,653 2040 3,770 4,066 7,836 475,653 7,836 9,356 477,173 2041 3,761 4,055 7,816 477,173 7,816 9,387 478,744 2042 3,812 4,055 7,867 478,744 7,867 9,418 480,294 2043 3,761 4,055 7,816 480,294 7,816 9,450 481,927 2044 3,770 4,066 7,836 481,927 7,836 9,482 483,573 2045 3,812 4,055 7,867 483,573 7,867 9,514 485,220 2046 3,761 4,055 7,816 485,220 7,816 9,548 486,952 2047 3,761 4,055 7,816 486,952 7,816 9,583 488,718 2048 3,821 4,066 7,887 488,718 7,887 9,617 490,447 2049 3,761 4,055 7,816 490,447 7,816 9,653 492,284 2050 3,761 4,055 7,816 492,284 7,816 9,689 494,157 2051 3,812 4,055 7,867 494,157 7,867 9,726 496,015 2052 3,770 4,066 7,836 496,015 7,836 9,764 497,942 2053 3,608 3,608 497,942 3,608 9,887 504,221 2054 3,659 3,659 504,221 3,659 10,011 510,574 2055 3,608 3,608 510,574 3,608 10,139 517,105 3
CNRO-2016-00010 (Page 4 of 6)
Entergy Nuclear Operations, Inc.
Vermont Yankee Annual Cash Flow Analysis For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1)
Table 13-1 Vermont Yankee Nuclear Power Station - SAFSTOR Methodology Annual Cash Flow Analysis - Total License Termination, Spent Fuel Management less Dry Fuel Costs (In Thousands in 2015 Dollars) (see column definitions below)
Year Column 1 50.75 License Termination Cost
($000s)
Column 2 50.54 (bb)
Spent Fuel Management Cost
($000s)
Column 3 Exclude Dry Fuel Spent Fuel Management Cost
($000s)
Column 4 License Termination Cost plus Spent Fuel Management Cost less Dry Fuel Cost
($000s)
Column 5 Beginning of Year Trust Fund Balance
($000s)
Column 6 Withdraw
($000s)
Column 7 Contribute
($000s)
Column 8 Trust Fund Earnings
($000s)
Column 9 Year Ending Trust Fund Balance
($000s) 2056 3,617 3,617 517,105 3,617 10,270 523,758 2057 3,659 3,659 523,758 3,659 10,402 530,502 2058 3,608 3,608 530,502 3,608 10,538 537,432 2059 3,608 3,608 537,432 3,608 10,676 544,500 2060 3,668 3,668 544,500 3,668 10,817 551,649 2061 3,608 3,608 551,649 3,608 10,961 559,002 2062 3,608 3,608 559,002 3,608 11,108 566,502 2063 3,659 3,659 566,502 3,659 11,257 574,100 2064 3,617 3,617 574,100 3,617 11,410 581,894 2065 3,608 3,608 581,894 3,608 11,566 589,851 2066 3,659 3,659 589,851 3,659 11,724 597,916 2067 3,608 3,608 597,916 3,608 11,886 606,195 2068 43,690 43,690 606,195 43,690 11,250 573,755 2069 93,039 93,039 573,755 93,039 9,614 490,331 2070 105,681 105,681 490,331 105,681 7,693 392,343 2071 85,618 85,618 392,343 85,618 6,134 312,859 2072 86,055 86,055 312,859 86,055 4,536 231,341 2073 50,949 50,949 231,341 50,949 3,608 184,000 2074 523 523 184,000 523 3,670 187,147 2075 302 302 187,147 302 3,737 190,582 740,517 360,863 138,101 963,280 595,443 963,280 558,418 190,582 As can be seen from the information provided in Table 13-1, the required funding for SAFSTOR decommissioning, $740.52 million, is greater than the NRC formula amount per 10 CFR 50.75(b) and (c) of $618.87 million, therefore, the site-specific analysis complies with the requirement from Regulatory Guide 1.159 section 1.1.1 previously discussed. The foregoing SAFSTOR analysis shows that when the December 31, 2015 DTF balance is escalated at the 3
CNRO-2016-00010 (Page 5 of 6)
Entergy Nuclear Operations, Inc.
Vermont Yankee Annual Cash Flow Analysis For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1) allowable rate and compared against the annual figures for the SAFSTOR period, that an approximately $190.6 million surplus exists at the end of the decommissioning project.
Accordingly, the licensee concludes that no further action is required at this time to demonstrate adequate funding assurance for decommissioning Vermont Yankee.
Table 13-1 Definitions:
Column 1:
50.75 License Termination Cost Reflects the Total Annual License Termination Plan cost in 2015 dollars at a 0.0% escalation rate Column 2:
50.54 (bb) Spent Fuel Management Cost Reflects the Total Annual Irradiated Fuel Management Plan cost in 2015 dollars at a 0.0% escalation rate Column 3:
Exclude Transfer to Dry Fuel Storage Cost Reflects the Transfer to Dry Fuel Storage Cost included in Column 2 that is planned to be funded by external credit facilities, in 2015 dollars at a 0.0%
escalation rate Column 4:
License Termination Cost plus Spent Fuel Management Cost less Transfer to Dry Fuel Storage Cost Reflects the Total Annual License Termination Plan cost plus Total Spent Fuel Management Plan cost less Transfer to Dry Fuel Storage cost all in 2015 dollars at a 0.0% escalation rate (Column 1 + Column 2 - Column 3)
Column 5:
Beginning of Year Trust Fund Balance Reflects the beginning of year Trust Fund balance in 2015 dollars at a 0.0%
escalation rate and 2.0% Fund Earnings 3
CNRO-2016-00010 (Page 6 of 6)
Entergy Nuclear Operations, Inc.
Vermont Yankee Annual Cash Flow Analysis For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1)
Column 6:
Withdraw Reflects the annual expenditures from the Trust Fund in 2015 dollars at a 0.0%
escalation rate (equals Column 4)
Column 7:
Contribute Reflects the annual contributions to the Trust Fund in 2015 dollars at a 0.0%
escalation rate Column 8:
Trust Fund Earnings Reflects earnings on funds remaining in the trust. A 2.0% Earnings rate is used over a 0.0% cost escalation rate. The Annual 2.0% earnings are calculated on the beginning balance less 100% of the projected annual expenditure for each year. (Column 5 - 100% of Column 6)
- 2.0%
Column 9:
Year Ending Trust Fund Balance Reflects the end of year Trust Fund balance after all projected earnings are added and all projected expenditures are deducted specified at a 0.0%
escalation rate and 2.0% Fund Earnings in 2015 dollars. (Column 5 - Column 6 +
Column 7 + Column 8) 4 CNRO-2016-00010 (Page 1 of 6)
Entergy Nuclear Operations, Inc.
Minimum Financial Assurance Calculation Worksheets PWR 615
$85,560,000 125.6 2.16 0.65 2.71 1.882 1.590 0.13 1.76 0.22 13.885
$556,759,099
% Owned:
100.00%
Plant name:
Indian Point Energy Center, Unit 1 Month Day Year Year of Biennial:
12 31 2015 Termination of Operation:
9 28 2013 MWth 1986$
ECI Base Lx Amount of NRC Minimum/Site Specific:
Licensee:
Amount in Trust Fund:
Lx Px Fx Ex Bx Entergy
$556,759,099
$413,920,819 NRC Minimum:
$431,807,460 Site Specific:
Note: See Attachment 12 for adequacy of the trust fund.
4 CNRO-2016-00010 (Page 2 of 6)
Entergy Nuclear Operations, Inc.
Minimum Financial Assurance Calculation Worksheets PWR 3216
$103,300,800 125.6 2.16 0.65 2.71 1.882 1.590 0.13 1.76 0.22 13.885
% Owned:
100.00%
2%
0.00 1.00000 2%
2%
7 0.14869 Excess (Shortfall) to NRC minimum Less ISFSI Parent Co Guaranty Total Excess Financial Assurance Plant name:
Indian Point Energy Center, Unit 3 Month Day Year Year of Biennial:
12 31 2015 Termination of Operation:
12 12 2015 MWth 1986$
ECI Base Lx Amount of NRC Minimum/Site Specific:
Licensee:
Amount in Trust Fund:
Lx Px Fx Ex Bx Entergy
$521,342,404
$683,835,864 NRC Minimum:
$521,342,404 Site Specific:
$683,835,864
$683,835,864 Total Earnings = Trust Fund balance x (1+RRR)^Years left in license Step 2:
Step 1:
Earnings Credit:
Real Rate of Return per Years Left in License Total Real Rate of Trust Fund Balance:
Accumulation:
Value of Annuity per year Real Rate of Return per Years of Annuity:
Total Annuity:
$0 0
$0 Total Earnings:
Real Rate of Return per Decom Period:
Total Real Rate of Total Earnings for Decom:
Total Earnings:
Step 3:
Decom Period:
$734,674,160 Total = Total Earnings + Total Earnings for Decom
$683,835,864
$50,838,296 Total Earnings for Decom = (1/2) x Total Earnings x [(1+RRR)^Decom period - 1]
Total of Steps 1 - 3:
206,541,261 213,331,756 (6,790,496) 4 CNRO-2016-00010 (Page 3 of 6)
Entergy Nuclear Operations, Inc.
Minimum Financial Assurance Calculation Worksheets PWR 3216
$103,300,800 125.6 2.16 0.65 2.71 1.882 1.590 0.13 1.76 0.22 13.885
% Owned:
100.00%
2%
0.00 1.00000 2%
2%
7 0.14869 Excess (Shortfall) to NRC minimum Less ISFSI Parent Co Guaranty Total Excess Financial Assurance Plant name:
Indian Point Energy Center, Unit 2 Month Day Year Year of Biennial:
12 31 2015 Termination of Operation:
9 28 2013 MWth 1986$
ECI Base Lx Amount of NRC Minimum/Site Specific:
Licensee:
Amount in Trust Fund:
Lx Px Fx Ex Bx Entergy
$521,342,404
$529,053,777 NRC Minimum:
$521,342,404 Site Specific:
$529,053,777
$529,053,777 Total Earnings = Trust Fund balance x (1+RRR)^Years left in license Step 2:
Step 1:
Earnings Credit:
Real Rate of Return per Years Left in License Total Real Rate of Trust Fund Balance:
Accumulation:
Value of Annuity per year Real Rate of Return per Years of Annuity:
Total Annuity:
$0 0
$0 Total Earnings:
Real Rate of Return per Decom Period:
Total Real Rate of Total Earnings for Decom:
Total Earnings:
Step 3:
Decom Period:
$529,053,777
$39,331,357 Total Earnings for Decom = (1/2) x Total Earnings x [(1+RRR)^Decom period - 1]
Total of Steps 1 - 3:
$568,385,134 Total = Total Earnings + Total Earnings for Decom 40,890,541 47,042,730 (6,152,189) 4 CNRO-2016-00010 (Page 4 of 6)
Entergy Nuclear Operations, Inc.
Minimum Financial Assurance Calculation Worksheets BWR 1912
$121,208,000 125.6 2.16 0.65 2.71 1.882 1.590 0.13 1.75 0.22 14.16
% Owned:
100.00%
Plant name:
Vermont Yankee Power Station Month Day Year Year of Biennial:
12 31 2015 Termination of Operation:
12 29 2014 MWth 1986$
ECI Base Lx Amount of NRC Minimum/Site Specific:
Licensee:
Amount in Trust Fund:
Lx Px Fx Ex Bx
$740,517,165 Entergy
$740,517,165
$595,443,076 NRC Minimum:
$618,866,471 Site Specific:
Note: See Attachment 13 for adequacy of the trust fund.
4 CNRO-2016-00010 (Page 5 of 6)
Entergy Nuclear Operations, Inc.
Minimum Financial Assurance Calculation Worksheets BWR 2028
$122,252,000 125.6 2.16 0.65 2.71 1.882 1.590 0.13 1.75 0.22 14.16
% Owned:
100.00%
2%
3.42 1.07000 2%
2%
7 0.14869 Excess (Shortfall) to NRC minimum Less ISFSI Parent Co Guaranty Total Excess Financial Assurance Plant name:
Pilgrim Nuclear Generating Station Month Day Year Year of Biennial:
12 31 2015 Termination of Operation:
5 31 2019 MWth 1986$
ECI Base Lx Amount of NRC Minimum/Site Specific:
Licensee:
Amount in Trust Fund:
Lx Px Fx Ex Bx Entergy
$624,196,949
$895,714,834 NRC Minimum:
$624,196,949 Site Specific:
$895,714,834
$958,415,187 Total Earnings = Trust Fund balance x (1+RRR)^Years left in license Step 2:
Step 1:
Earnings Credit:
Real Rate of Return per Years Left in License Total Real Rate of Trust Fund Balance:
Accumulation:
Value of Annuity per year Real Rate of Return per Years of Annuity:
Total Annuity:
$0 0
$0 Total Earnings:
Real Rate of Return per Decom Period:
Total Real Rate of Total Earnings for Decom:
Total Earnings:
Step 3:
Decom Period:
$1,029,666,488 Total = Total Earnings + Total Earnings for Decom
$958,415,187
$71,251,301 Total Earnings for Decom = (1/2) x Total Earnings x [(1+RRR)^Decom period - 1]
Total of Steps 1 - 3:
396,494,438 405,469,538 (8,975,100) 4 CNRO-2016-00010 (Page 6 of 6)
Entergy Nuclear Operations, Inc.
Minimum Financial Assurance Calculation Worksheets BWR 2536
$126,824,000 125.6 2.16 0.65 2.71 1.882 1.590 0.13 1.75 0.22 14.16
% Owned:
100.00%
2%
1.07 1.02146 2%
2%
7 0.14869 Excess (Shortfall) to NRC minimum Less ISFSI Parent Co Guaranty Total Excess Financial Assurance Plant name:
James A. FitzPatrick Month Day Year Year of Biennial:
12 31 2015 Termination of Operation:
1 27 2017 MWth 1986$
ECI Base Lx Amount of NRC Minimum/Site Specific:
Licensee:
Amount in Trust Fund:
Lx Px Fx Ex Bx Entergy
$647,540,768
$746,189,340 NRC Minimum:
$647,540,768 Site Specific:
$746,189,340
$762,204,739 Total Earnings = Trust Fund balance x (1+RRR)^Years left in license Step 2:
Step 1:
Earnings Credit:
Real Rate of Return per Years Left in License Total Real Rate of Trust Fund Balance:
Accumulation:
Value of Annuity per year Real Rate of Return per Years of Annuity:
Total Annuity:
$0 0
$0 Total Earnings:
Real Rate of Return per Decom Period:
Total Real Rate of Total Earnings for Decom:
Total Earnings:
Step 3:
Decom Period:
$762,204,739
$56,664,460 Total Earnings for Decom = (1/2) x Total Earnings x [(1+RRR)^Decom period - 1]
Total of Steps 1 - 3:
$818,869,200 Total = Total Earnings + Total Earnings for Decom 163,156,923 171,328,432 (8,171,509)
Entergy Nuclear Operations, Inc.
1340 Echelon Parkway Jackson, MS 39213 Tel: 601-368-5667 John F. McCann Vice President, Regulatory Assurance CNRO-2016-00010 March 30, 2016 U.S. Nuclear Regulatory Commission Attn: Document Control Desk 11555 Rockville Pike Rockville, MD 20852-2738
SUBJECT:
Decommissioning Funding Status Report per 10 CFR §50.75(f)(1) and 10 CFR 50.82(a)(8)(v) -- Entergy Nuclear Operations, Inc.
Big Rock Point Indian Point Nuclear Docket No. 50-155 Generating Stations 1, 2, & 3 Docket Nos. 50-3, 50-247, & 50-286 James A. FitzPatrick Pilgrim Nuclear Power Station Nuclear Power Plant Docket 50-293 Docket No. 50-333 Vermont Yankee Nuclear Power Station Docket No. 50-271
REFERENCES:
- 1.
NUREG-1307, Report on Waste Burial Charges, Revision 15, dated January 2013.
- 2.
NRC Regulatory Issue Summary 2001-07, 10 CFR 50.75(f)(1) Reports on the Status of Decommissioning Funds (Due March 31, 2001).
- 3.
NRC Regulatory Issue Summary 2014-12, Decommissioning Fund Status Report Calculations.
Dear Sir or Madam:
10 CFR 50.75(f)(1) requires each power reactor licensee to report to the NRC by March 31, 1999, and every two years thereafter with certain exception, on the status of its decommissioning funding for each reactor, or share of a reactor, that it owns. 10 CFR 50.82(a)(8)(v) requires licensees of shutdown sites to report to the NRC annually, by March 31, on the status of decommissioning financial assurance for those sites. On behalf of Entergy Nuclear Indian Point 2, LLC (Indian Point 1 & 2), Entergy Nuclear Indian Point 3, LLC, Entergy Nuclear Vermont Yankee, LLC, Entergy Nuclear Generation Company (Pilgrim Station), Entergy Nuclear FitzPatrick, LLC, and Entergy Nuclear Palisades, LLC (Big Rock Point), Entergy Nuclear Operations, Inc. hereby submits the information requested for power reactors operated by Entergy Nuclear Operations, Inc. The reports provided in Attachments 1 through 11 for the seven licensed facilities addressed by this filing, were prepared in accordance with NUREG-1307 (Reference 1) and NRC Regulatory Issue Summary 2001-07 (Reference 2). Attachments
CNRO-2016-00010 Page 2 of 4 12 and 13 are updated site specific decommissioning cost estimates for Indian Point Unit 1 and Vermont Yankee, respectively. The Minimum Funding Assurance calculation worksheets, derived from LIC-205, Rev. 4, are provided in Attachment 14 for the convenience of the reviewer.
The estimated minimum decommissioning fund values were determined using the NRCs methodology in NUREG-1307, Rev 15. Pursuant to NRC Regulatory Issue Summary 2014-12, Entergy Nuclear Operations, Inc. understands that the NRC has directed licensees to use NUREG-1307, Rev. 15 for this filing.
The trust fund amounts reported for each facility in the responses to item 3 represent the market value of decommissioning trust funds as of December 31, 2015 net of any material current income tax liability on realized gains, interest, dividends and other income of the trusts. The New York Power Authority (NYPA) holds the decommissioning trust funds for Indian Point 3 and FitzPatrick. NYPA is a state agency, and the decommissioning trust funds held by NYPA are not subject to taxes. The trusts for the following plants had estimated balances on their 2015 tax liabilities, not reflected in the trust fund balances, as follows (in thousands):
Indian Point 1
$ 0 Indian Point 2
$ 0 Indian Point 3
$ 0 Vermont Yankee $ 0 Pilgrim
$272 FitzPatrick
$ 0 Palisades
$ 0 In accordance with guidance provided by the NRC Staff in April 2014 requests for additional information (Accession No. ML14120A273) that future 10 CFR 50.75(f) reports should clearly delineate estimate reactor and ISFSI decommissioning costs, the information in Attachments 1, 2, 3, 5, 7, 9, and 11 includes line item 2 identifying the ISFSI decommissioning obligation, escalated from the most recent 10 CFR 72.30 filing. This obligation is also accounted for in the Excess/Shortfall calculations for each plant in Attachment 14.
The aforementioned worksheets, using the December 31, 2015 trust fund balances and parent guarantee amounts, indicate that all of the plants covered by this submittal met or exceeded the NRCs funding requirements. Accordingly, the licensees conclude that no further action is required at this time to demonstrate adequate funding assurance for decommissioning the plants covered by this submittal.
There are no new commitments made in this letter. If you have any questions, please contact Mr. Guy Davant, Manager, Fleet Licensing Programs at (601) 368-5756.
Sincerely, JFM / ghd / ljs
CNRO-2016-00010 Page 3 of 4 Attachments:
- 1.
Entergy Nuclear Operations, Inc. Status of Decommissioning Funding - Indian Point 1
- 2.
Entergy Nuclear Operations, Inc. Status of Decommissioning Funding - Indian Point 2
- 3.
Entergy Nuclear Operations, Inc. Status of Decommissioning Funding - Indian Point 3
- 4.
Entergy Nuclear Operations, Inc. Calculation of Minimum Amount - Indian Point
- 5.
Entergy Nuclear Operations, Inc. Status of Decommissioning Funding - Vermont Yankee
- 6.
Entergy Nuclear Operations, Inc. Calculation of Minimum Amount - Vermont Yankee
- 7.
Entergy Nuclear Operations, Inc. Status of Decommissioning Funding - Pilgrim
- 8.
Entergy Nuclear Operations, Inc. Calculation of Minimum Amount - Pilgrim
- 9.
Entergy Nuclear Operations, Inc. Status of Decommissioning Funding - James A. Fitzpatrick
- 10. Entergy Nuclear Operations, Inc. Calculation of Minimum Amount - James A. Fitzpatrick
- 11. Entergy Nuclear Operations, Inc. Status of Decommissioning Funding - Big Rock Point
- 12. Entergy Nuclear Operations, Inc. IP1 DTF Balance Based on Decommissioning Funding Assurance Plan
- 13. Entergy Nuclear Operations, Inc. Vermont Yankee Annual Cash Flow Analysis
- 14. Entergy Nuclear Operations, Inc. Minimum Financial Assurance Calculation Worksheets cc: See next page
CNRO-2016-00010 Page 4 of 4 cc:
Mr. J. A. Aluise (ENT)
Mr. C. Bakken (ECH)
Mr. B. E. Green (TMBR)
Mr. D. J. Mannai (WPO)
Mr. J. F. McCann (WPO)
Mr. T. G. Mitchell (ECH)
Mr. L. Jager Smith (ECH)
Mr. J. A. Ventosa (ECH)
Mr. M. Perito (ECH)
Mr. B. Sullivan (JAF)
Mr. J. Dent (PIL)
Mr. L. Coyle (IPEC)
Mr. A. J. Vitale (PAL)
Mr. C. J. Wamser (VTY)
USNRC Regional Administrator, Region I USNRC Regional Administrator, Region III USNRC Project Manager, Indian Point 1 USNRC Project Manager, Indian Point 2 / 3 USNRC Project Manager, J. A. FitzPatrick USNRC Project Manager, Palisades USNRC Project Manager, Pilgrim USNRC Project Manager, Vermont Yankee USNRC Resident Inspector, Indian Point 2 / 3 USNRC Resident Inspector, J. A. FitzPatrick USNRC Resident Inspector, Palisades USNRC Resident Inspector, Pilgrim USNRC Resident Inspector, Vermont Yankee Michigan Department of Environmental Quality Michigan Public Service Commission NYS Department of Public Service Vermont Department of Public Service Massachusetts Emergency Management Agency CNRO-2016-00010 (Page 1 of 2)
Entergy Nuclear Operations, Inc.
Status of Decommissioning Funding - Indian Point 1 For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1) and 10 CFR 50.82(a)(8)(v)
Plant Name: Indian Point Nuclear Generating Unit No. 1 10 CFR 50.75(f)(1)
- 1. Minimum Financial Assurance (MFA) estimated per 10 CFR 50.75(b) and (c) (2015$)
- 2. ISFSI Obligation as of 12/31/15
$556.76 million [Note1]
$0.64 million [Note2]
- 3. Decommissioning Trust Fund Total as of 12/31/15
$ 413.92 million
- 4.
A schedule of the annual amounts remaining to be collected None
- 5.
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 2% annual real rate of return per 10 CFR 50.75(e)(1)(i)
- 6.
Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v)
None
- 7.
Modifications occurring to a licensee's current method of providing financial assurance since the last submitted report None
- 8.
Any material changes to trust agreements None Note 1: This amount is based upon total SAFSTOR expenditures for radiological remediation and license termination set forth in the updated Decommissioning Funding Assurance Plan and SAFSTOR analysis that are provided in Attachment 12. (Calculation of the NRC Minimum Amount is provided in Attachment 4.)
Note 2: From 10 CFR 50.82(a)(8)(vii) filing for Indian Point 1 of March 2016 CNRO-2016-00010 (Page 2 of 2)
Entergy Nuclear Operations, Inc.
Status of Decommissioning Funding - Indian Point 1 For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1) and 10 CFR 50.82(a)(8)(v)
Plant Name: Indian Point Nuclear Generating Unit No. 1 10 CFR 50.82(a)(8)(v)
- 1. Cumulative decommissioning spending
$94.28 million [Note1]
- 2. 2015 decommissioning spending
$5.66 million [Note1]
- 3.
Fund Balance See above in 10 CFR 50.75 information
- 4.
No other financial assurance mechanism is being relied upon, but costs through 12/31/2015 have been funded by operations, and not the decommissioning fund.
- 5.
Estimated costs to complete from latest estimate
$556.76 million [Note2]
- 6.
Estimate is based on unrestricted release of the site per 10 CFR 20.1402
- 7.
Modifications to financial assurance since last report See above in 10 CFR 50.75 information
- 8.
Any material changes to trust agreements See above in 10 CFR 50.75 information Note 1: Entergy does not possess records that would permit determination of charges to IP1 prior to its acquisition in September 2001 by Entergy Nuclear Indian Point 2, LLC. The costs presented here represent those costs charged in 2015 and the total costs that have been assigned to IP1 since 2001. Entergy has not fully determined what portion of those costs would be considered decommissioning costs as that term is defined in 10 CFR 50.2. Cumulative and 2015 decommissioning spending only consists of costs related to license termination. In previous filings, cumulative and annual decommissioning costs have included costs related to spent fuel management operations.
Note 2: This amount is based upon total SAFSTOR expenditures for radiological remediation and license termination set forth in the updated Decommissioning Funding Assurance Plan and SAFSTOR analysis that are provided in Attachment 12. (Calculation of the NRC Minimum Amount is provided in Attachment 4.) This estimate does not include 2015 spending because current costs are being paid out of operating funds.
CNRO-2016-00010 (Page 1 of 1)
Entergy Nuclear Operations, Inc.
Status of Decommissioning Funding - Indian Point 2 For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1)
Plant Name: Indian Point Nuclear Generating Unit No. 2
- 1. Minimum Financial Assurance (MFA) estimated per 10 CFR 50.75(b) and (c) (2015$)
$521.34 million [Note 1]
- 2. ISFSI Obligation as of 12/31/15
- 3. Decommissioning Trust Fund Total as of 12/31/15
$6.16 million [Note 2]
$529.05 million [Note 3]
- 4.
A schedule of the annual amounts remaining to be collected None
- 5.
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 2% annual real rate of return per 10 CFR 50.75(e)(1)(i)
- 6.
Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v)
None
- 7.
Modifications occurring to a licensee's current method of providing financial assurance since the last submitted report None
- 8.
Any material changes to trust agreements None Note 1: Calculation of the NRC Minimum Amount is provided in Attachment 4.
Note 2: From 10 CFR 50.82(a)(8)(vii) filing for Indian Point 2 of March 2016 Note 3: Includes provisional fund balance of $32.14 million.
CNRO-2016-00010 (Page 1 of 1)
Entergy Nuclear Operations, Inc.
Status of Decommissioning Funding - Indian Point 3 For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1)
Plant Name: Indian Point Nuclear Generating Unit No. 3
- 1. Minimum Financial Assurance (MFA) estimated per 10 CFR 50.75(b) and (c) (2015$)
$521.34 million [Note 1]
- 2. ISFSI Obligation as of 12/31/15
- 3. Decommissioning Trust Fund Total as of 12/31/15
$6.79 million [Note 2]
$ 683.84 million
- 4.
A schedule of the annual amounts remaining to be collected None
- 5.
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 2% annual real rate of return per 10 CFR 50.75(e)(1)(i)
- 6.
Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v)
None
- 7.
Modifications occurring to a licensee's current method of providing financial assurance since the last submitted report None
- 8.
Any material changes to trust agreements None Note 1: Calculation of the NRC Minimum Amount is provided in Attachment 4.
Note 2: From Entergys ISFSI Decommissioning Funding Plans pursuant to 10 CFR 72.30, December 17, 2015 (Accession No. ML15351A524)
CNRO-2016-00010 (Page 1 of 1)
Entergy Nuclear Operations, Inc.
Calculation of Minimum Amount - Indian Point For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1)
Entergy Nuclear Indian Point 2, LLC: 100% ownership interest of Indian Point 1 & 2 Entergy Nuclear Indian Point 3, LLC: 100% ownership interest of Indian Point 3 Plant Location: Buchanan, New York Reactor Type: Pressurized Water Reactor (PWR)
Indian Point Unit 1 Power Level: <3,400 MWt (615 MWt)
Indian Point Unit 1 PWR Base Year 1986$: $85,560,000 Indian Point Unit 2 Power Level: <3,400 MWt (3,216 MWt)
Indian Point Unit 2 PWR Base Year 1986$: $103,300,800 Indian Point Unit 3 Power Level: <3,400 MWt (3,216 MWt)
Indian Point Unit 3 PWR Base Year 1986$: $103,300,800 Labor Region: North Waste Burial Facility: Generic Disposal Site 10CFR50.75(c)(2) Escalation Factor Formula:
0.65(L) +0.13(E) +0.22(B)
Factor L=Labor (North) 2.711 E=Energy (PWR) 1.762 B=Waste Burial-Vendor (PWR) 13.8853 PWR Escalation Factor:
0.65(L) +0.13(E) +0.22(B)=
5.04684 1986 PWR Base Year $ Escalated:
Indian Point 1: $85,560,000
- Factor=
$431,807,460 Indian Point 2 & 3: $103,300,800
- Factor=
$521,342,404 1
Bureau of Labor Statistics, Series Report ID: CIU2010000000210i (4th Quarter 2015) 2 Bureau of Labor Statistics, Series Report ID: wpu0543 and wpu0573 (December 2015) 3 Nuclear Regulatory Commission: NUREG-1307 Revision 15, Table 2.1 (2013)
CNRO-2016-00010 (Page 1 of 2)
Entergy Nuclear Operations, Inc.
Status of Decommissioning Funding Vermont Yankee For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1) and 10 CFR 50.82(a)(8)(v)
Plant Name: Vermont Yankee Nuclear Power Station 10 CFR 50.75(f)(1)
- 1. Minimum Financial Assurance (MFA) estimated per 10 CFR 50.75(b) and (c) (2015$)
$ 740.52 million [Note 1]
- 2. ISFSI Obligation as of 12/31/15
- 3. Decommissioning Trust Fund Total as of 12/31/15
$5.05 million [Note 2]
$ 595.44 million
- 4.
A schedule of the annual amounts remaining to be collected None
- 5.
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 2% annual real rate of return per 10 CFR 50.75(e)(1)(i)
- 6.
Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v)
None
- 7.
Modifications occurring to a licensee's current method of providing financial assurance since the last submitted report None
- 8.
Any material changes to trust agreements None Note 1: This amount is based upon total SAFSTOR expenditures for radiological remediation and license termination set forth in the updated Decommissioning Funding Assurance Plan and SAFSTOR analysis provided in Attachment 13. (Calculation of the NRC Minimum Amount is provided in Attachment 6).
Note 2: From Entergys ISFSI Decommissioning Funding Plans Pursuant to 10 CFR 72.30, December 17, 2015 (Accession No. ML15351A524).
Note 3: Since the last submitted report, Entergy Nuclear Vermont Yankee, LLC canceled a $40 million parent guarantee that previously provided decommissioning financial assurance for Vermont Yankee, based on the establishment of certain lines of credit. In a letter from the NRC to Entergy Nuclear Operations, Inc., and Vermont Yankee Nuclear Power Station dated April 21, 2015, the NRC determined that Entergy Corporation had complied with the general requirements of 10 CFR 30 Appendix A (III)(A) and granted Entergy Corporation the right to cancel the $40 million parent company guarantee for Vermont Yankee (Accession No. ML15107A074).
CNRO-2016-00010 (Page 2 of 2)
Entergy Nuclear Operations, Inc.
Status of Decommissioning Funding Vermont Yankee For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1) and 10 CFR 50.82(a)(8)(v)
Plant Name: Vermont Yankee Nuclear Power Station 10 CFR 50.82(a)(8)(v)
- 1. Cumulative decommissioning spending through 12/31/2015
$ 74.35 million [Note1]
- 2. 2015 decommissioning spending
$ 59.57 million [Note2]
- 3.
Fund Balance See above in 10 CFR 50.75 information
- 4.
No other financial assurance mechanism is being relied upon.
- 5.
Estimated costs to complete from latest estimate
$ 740.52 million
- 6.
Estimate is based on unrestricted release of the site per 10 CFR 20.1402
- 7.
Modifications to financial assurance since last report See above in 10 CFR 50.75 information
- 8.
Any material changes to trust agreements See above in 10 CFR 50.75 information Note 1: Some decommissioning costs have been paid by the parent company, and not refunded from the decommissioning trust.
Note 2: This estimate only includes 2015 decommissioning costs. 2014 costs are included in item 1 and have been reimbursed in 2015.
CNRO-2016-00010 (Page 1 of 1)
Entergy Nuclear Operations, Inc.
Calculation of Minimum Amount - Vermont Yankee For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1)
Entergy Nuclear Vermont Yankee LLC.: 100% ownership interest Plant Location: Vernon, Vermont Reactor Type: Boiling Water Reactor (BWR)
Power Level: <3,400 MWt (1912 MWt)
BWR Base Year 1986$: $121,208,000 Labor Region: North Waste Burial Facility: Generic Disposal Site 10CFR50.75(c)(2) Escalation Factor Formula:
0.65(L) +0.13(E) +0.22(B)
Factor L=Labor (North) 2.711 E=Energy (BWR) 1.752 B=Waste Burial-Vendor (BWR) 14.1603 BWR Escalation Factor:
0.65(L) +0.13(E) +0.22(B)=
5.10582 1986 BWR Base Year $ Escalated:
$121,208,000
- Factor=
$618,866,471 1
Bureau of Labor Statistics, Series Report ID: CIU2010000000210i (4th Quarter 2015) 2 Bureau of Labor Statistics, Series Report ID: wpu0543 and wpu0573 (December 2015) 3 Nuclear Regulatory Commission: NUREG-1307 Revision 15, Table 2.1 (2013)
CNRO-2016-00010 (Page 1 of 1)
Entergy Nuclear Operations, Inc.
Status of Decommissioning Funding - Pilgrim For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1)
Plant Name: Pilgrim Nuclear Power Station
- 1. Minimum Financial Assurance (MFA) estimated per 10 CFR 50.75(b) and (c) (2015$)
- 2.
ISFSI Obligation as of 12/31/15
$ 624.20 million [Note 1]
$8.98 million [Note 2]
- 3. Decommissioning Trust Fund Total as of 12/31/15
$ 895.71 million
- 4.
A schedule of the annual amounts remaining to be collected None
- 5.
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 2% annual real rate of return per 10 CFR 50.75(e)(1)(i)
- 6.
Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v)
None
- 7.
Modifications occurring to a licensee's current method of providing financial assurance since the last submitted report None
- 8.
Any material changes to trust agreements None Note 1: Calculation of the NRC Minimum Amount is provided in Attachment 8.
Note 2: From Entergys ISFSI Decommissioning Funding Plans Pursuant to 10 CFR 72.30, December 17, 2015 (Accession No. ML15351A524).
CNRO-2016-00010 (Page 1 of 1)
Entergy Nuclear Operations, Inc.
Calculation of Minimum Amount - Pilgrim For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1)
Entergy Nuclear Generation Co.: 100% ownership interest Plant Location: Plymouth, Massachusetts Reactor Type: Boiling Water Reactor (BWR)
Power Level: <3,400 MWt (2028 MWt)
BWR Base Year 1986$: $122,252,000 Labor Region: North Waste Burial Facility: Generic Disposal Site 10CFR50.75(c)(2) Escalation Factor Formula:
0.65(L) +0.13(E) +0.22(B)
Factor L=Labor (North) 2.711 E=Energy (BWR) 1.752 B=Waste Burial-Vendor (BWR) 14.1603 BWR Escalation Factor:
0.65(L) +0.13(E) +0.22(B)=
5.10582 1986 BWR Base Year $ Escalated:
$122,252,000
- Factor=
$624,196,949 1
Bureau of Labor Statistics, Series Report ID: CIU2010000000210i (4th Quarter 2015) 2 Bureau of Labor Statistics, Series Report ID: wpu0543 and wpu0573 (December 2015) 3 Nuclear Regulatory Commission: NUREG-1307 Revision 15, Table 2.1 (2013)
CNRO-2016-00010 (Page 1 of 1)
Entergy Nuclear Operations, Inc.
Status of Decommissioning Funding - James A. Fitzpatrick For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1)
Plant Name: James A. Fitzpatrick Nuclear Power Plant
- 1. Minimum Financial Assurance (MFA) estimated per 10 CFR 50.75(b) and (c) (2015$)
- 2.
ISFSI Obligation as of 12/31/15
$ 647.54 million [Note 1]
$ 8.17 million [Note 2]
- 3. Decommissioning Trust Fund Total as of 12/31/15
$ 746.19 million
- 4.
A schedule of the annual amounts remaining to be collected None
- 5.
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 2% annual real rate of return per 10 CFR 50.75(e)(1)(i)
- 6.
Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v)
None
- 7.
Modifications occurring to a licensee's current method of providing financial assurance since the last submitted report None
- 8.
Any material changes to trust agreements None Note 1: Calculation of the NRC Minimum Amount is provided in Attachment 10.
Note 2: From Entergys ISFSI Decommissioning Funding Plans Pursuant to 10 CFR 72.30, December 17, 2015 (Accession No. ML15351A524).
0 CNRO-2016-00010 (Page 1 of 1)
Entergy Nuclear Operations, Inc.
Calculation of Minimum Amount - James A. Fitzpatrick For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1)
Entergy Nuclear FitzPatrick LLC.: 100% ownership interest Plant Location: Oswego, New York Reactor Type: Boiling Water Reactor (BWR)
Power Level: <3,400 MWt (2536 MWt)
BWR Base Year 1986$: $126,824,000 Labor Region: North Waste Burial Facility: Generic Disposal Site 10CFR50.75(c)(2) Escalation Factor Formula:
0.65(L) +0.13(E) +0.22(B)
Factor L=Labor (North) 2.711 E=Energy (BWR) 1.752 B=Waste Burial-Vendor (BWR) 14.1603 BWR Escalation Factor:
0.65(L) +0.13(E) +0.22(B)=
5.10582 1986 BWR Base Year $ Escalated:
$126,824,000
- Factor=
$647,540,768 1
Bureau of Labor Statistics, Series Report ID: CIU2010000000210i (4th Quarter 2015) 2 Bureau of Labor Statistics, Series Report ID: wpu0543 and wpu0573 (December 2015) 3 Nuclear Regulatory Commission: NUREG-1307 Revision 15, Table 2.1 (2013) 1 CNRO-2016-00010 (Page 1 of 1)
Entergy Nuclear Operations, Inc.
Status of Decommissioning Funding - Big Rock Point For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1)
Plant Name: Big Rock Point ISFSl
- 1.
Amount of decommissioning funds required from most recent estimate (2015 dollars).
$ 2.43 million [Note 1]
- 2.
Decommissioning Funding Assurance Method.
Parent Guarantee ($5 million)
- 3.
A schedule of the annual amounts remaining to be collected None
- 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 Escalation rate: CPIU Rate of earnings: n/a
- 5.
Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v)
None
- 6.
Modifications occurring to a licensee's current method of providing financial assurance since the last submitted report None
- 7.
Any material changes to trust agreements None Note 1: See 10 CFR §72.30 filing for Big Rock Point, dated December 17, 2015, Accession No. ML15351A524.
2 CNRO-2016-00010 (Page 1 of 4)
Entergy Nuclear Operations, Inc.
IP1 DTF Balance Based on Decommissioning Funding Assurance Plan For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1)
On October 23, 2008, Entergy Nuclear Indian Point 2, LLC (ENIP2) submitted a preliminary decommissioning cost analysis to the NRC in conjunction with its spent fuel management plan under 10 CFR 50.75(f)(3) and 10 CFR 50.54(bb) (Accession No. ML083040378, as supplemented by ENIP2's reply to RAIs on July 15, 2009 (Accession No. ML092050204). The preliminary decommissioning cost analysis contained separate site-specific decommissioning cost estimates for Indian Point 1 and Indian Point 2. The estimates were subsequently found to be reasonable by the NRC on March 17, 2010 (Accession No. ML100280544).
Pursuant to Regulatory Guide 1.159, Revision 2, adjustment to the site-specific cost estimates should be made at least once a year for the effects of inflation. Adjustment to site-specific cost estimates for the effects of technological and status changes should be made according to the amount of change experienced, as appropriate, but in no event, less than once every 5 years.
As such, ENIP2 has updated the aforementioned estimates consistent with the requirements of Regulatory Guide 1.159, Revision 2.
ENIP2 has determined that use of a SAFSTOR analysis shows that there is presently reasonable assurance that adequate funds will be available for the decommissioning process in compliance with NRC decommissioning funding assurance rules.
Pursuant to 10 CFR 50.75(e)(1)(i), "A licensee that has prepaid funds based on a site-specific estimate under § 50.75(b)(1) of this section may take, credit for projected earnings on the prepaid decommissioning trust funds, using up to a 2 percent annual real rate of return from the time of future funds' collection through the projected decommissioning period, provided that the site-specific estimate is based on a period of safe storage that is specifically described in the estimate." ENIP2 understands that a facility-specific analysis may be used for demonstrating the adequacy of decommissioning funds, provided that "the NRC-required cost estimate for decommissioning costs as defined in 10 CFR 50.2 is equal to or greater than the amount stated in the formulas in 10 CFR 50.75(c)(1) and (2) as the basis for justifying a higher than minimum funding level." (Regulatory Guide 1.159 Rev. 2, Section 1.1.1) ENIP2 also understands that NRC should be provided the analysis, and that the analysis should include data for each year of the analysis.
The updated Indian Point 1 site-specific decommissioning cost estimate is based on a period of safe storage that is specifically described in the estimate, namely storage until 2073, at which time the plant will be decommissioned and the site released for alternative use without restriction. Table 12-1 below provides the annual license termination costs computed in the updated estimate. These costs to date have been funded by operations, and not by the decommissioning fund. The decommissioning trust fund (DTF) ending balance is escalated each year by the 2% real growth figure allowed pursuant to 10 CFR 50.75(e)(1)(i).
2 CNRO-2016-00010 (Page 2 of 4)
Entergy Nuclear Operations, Inc.
IP1 DTF Balance Based on Decommissioning Funding Assurance Plan For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1)
Table 12-1 NRC License Termination Cost
($ millions) 2015 $ Unit 1 Radiological Ending DTF Balance 2015 413.921 2016 0.951 421.248 2017 3.804 425.869 2018 3.804 430.582 2019 3.815 435.379 2020 3.804 440.282 2021 3.804 445.283 2022 3.804 450.385 2023 3.815 455.578 2024 3.804 460.885 2025 3.804 466.298 2026 3.804 471.820 2027 3.815 477.442 2028 3.804 483.186 2029 3.804 489.045 2030 3.804 495.022 2031 3.815 501.108 2032 3.804 507.326 2033 3.804 513.668 2034 3.804 520.137 2035 3.815 526.725 2036 3.804 533.455 2037 3.804 540.320 2038 3.804 547.322 2039 3.815 554.453 2040 3.804 561.738 2041 3.804 569.169 2042 3.804 576.748 2043 3.815 584.468 2044 3.804 592.353 2045 3.804 600.396 2046 3.804 608.599 2047 3.815 616.957 2048 3.804 625.491 2049 3.804 634.197 2050 3.804 643.076 2051 3.815 652.123 2
CNRO-2016-00010 (Page 3 of 4)
Entergy Nuclear Operations, Inc.
IP1 DTF Balance Based on Decommissioning Funding Assurance Plan For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1)
Table 12-1 NRC License Termination Cost
($ millions) 2015 $ Unit 1 Radiological Ending DTF Balance 2052 3.804 661.361 2053 3.804 670.784 2054 3.804 680.396 2055 3.815 690.189 2056 3.804 700.188 2057 3.804 710.388 2058 3.804 720.791 2059 3.815 731.392 2060 3.815 742.205 2061 3.804 753.245 2062 3.804 764.506 2063 3.804 775.992 2064 3.815 787.697 2065 28.011 775.440 2066 61.646 729.303 2067 102.982 640.907 2068 109.450 544.275 2069 15.770 539.390 2070 15.792 534.386 2071 15.792 529.282 2072 15.835 524.033 2073 7.788 526.726 Total 556.759 2
CNRO-2016-00010 (Page 4 of 4)
Entergy Nuclear Operations, Inc.
IP1 DTF Balance Based on Decommissioning Funding Assurance Plan For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1)
As can be seen from the information provided in Table 12-1, the required funding for SAFSTOR decommissioning, $556.76 million, is greater than the NRC formula amount per 10 CFR 50.75(b) and (c) of $431.81 million, therefore, the site-specific analysis complies with the requirement from Regulatory Guide 1.159 section 1.1.1 previously discussed. The foregoing SAFSTOR analysis shows that when the December 31, 2015 DTF balance is escalated at the allowable rate and compared against the annual figures for the SAFSTOR period, that an approximately $526.73 million surplus exists at the end of the decommissioning project.
Accordingly, ENIP2 concludes that no further action is required at this time to demonstrate adequate funding assurance for decommissioning Indian Point 1.
3 CNRO-2016-00010 (Page 1 of 6)
Entergy Nuclear Operations, Inc.
Vermont Yankee Annual Cash Flow Analysis For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1)
Vermont Yankee Nuclear Power Station (Vermont Yankee) permanently ceased operations on December 29, 2014. The Vermont Yankee decommissioning trust fund balance is approximately $595 million as of December 31, 2015. Tables 3.4 and 3.5 of the site-specific decommissioning cost estimate (Reference 1, Attachment 1) set forth the estimated annual expenditures for license termination and spent fuel management, respectively. A cash flow analysis utilizing this annual expenditure information is included as Table 13-1.
The cash flow analysis demonstrates that the Vermont Yankee decommissioning trust fund is sufficiently funded for all license termination activities and certain spent fuel management activities (i.e., operational costs). As discussed in the Irradiated Fuel Management Program Update (Reference 2) costs related to spent fuel management operations (e.g., operations and maintenance costs for the spent fuel pool and Independent Spent Fuel Storage Installation, totaling approximately $223 million) will be funded from the decommissioning trust fund.
Entergy Nuclear Operations, Inc. obtained an exemption that allows the use of trust funds for spent fuel management activities (NRC Approval of Exemption Request for Spent Fuel Management, 80 Fed. Reg. 35992).
The licensee has determined that use of a SAFSTOR analysis shows that there is presently reasonable assurance that adequate funds will be available for the decommissioning process in compliance with NRC decommissioning funding assurance rules.
Pursuant to 10 CFR 50.75(e)(1)(i), "A licensee that has prepaid funds based on a site-specific estimate under § 50.75(b)(1) of this section may take credit for projected earnings on the prepaid decommissioning trust funds, using up to a 2 percent annual real rate of return from the time of future funds' collection through the projected decommissioning period, provided that the site-specific estimate is based on a period of safe storage that is specifically described in the estimate." The licensee understands that a facility-specific analysis may be used for demonstrating the adequacy of decommissioning funds, provided that "the NRC-required cost estimate for decommissioning costs as defined in 10 CFR 50.2 is equal to or greater than the amount stated in the formulas in 10 CFR 50.75(c)(1) and (2) as the basis for justifying a higher than minimum funding level." (Regulatory Guide 1.159 Rev. 2, Section 1.1.1.) The licensee also understands that NRC should be provided the analysis, and that the analysis should include data for each year of the analysis. An updated decommissioning estimate was provided with the licensees Post Shutdown Decommissioning Activities Report on December 19, 2014 (Accession No. ML14357A110).
The updated Vermont Yankee site-specific decommissioning cost estimate is based on a period of safe storage that is specifically described in the estimate, namely storage until approximately 2068, at which time the plant will be decommissioned and the site released for alternative use without restriction. Table 13-1 below provides the annual license termination and spent fuel management costs computed in the updated estimate. The decommissioning trust fund (DTF) ending balance is escalated each year by the 2% real growth figure allowed pursuant to 10 CFR 50.75(e)(1)(i).
3 CNRO-2016-00010 (Page 2 of 6)
Entergy Nuclear Operations, Inc.
Vermont Yankee Annual Cash Flow Analysis For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1)
Thus, considering the fund balance of $595 million, as of December 31, 2015, and projected fund earnings during the SAFSTOR period (assuming an annual 2% growth rate), the trust fund is expected to have an excess of $190.6 million after completion of license termination and the operational spent fuel management activities that will be funded by the trust fund.
REFERENCES:
- 1. Letter, Entergy Nuclear Operations, Inc. to USNRC, Post Shutdown Decommissioning Activities Report, BVY 14-078, dated December 19, 2014 (Accession No. ML14357A110).
- 2. Letter, Entergy Nuclear Operations, Inc. to USNRC, Update to Irradiated Fuel Management Program Pursuant to 10 CFR 50.54(bb), BVY 14-085, dated December 19, 2014 (Accession No. ML14358A251).
- 3. NRC Approval of Exemption Request for Spent Fuel Management, 80 Fed. Reg. 35992 (June 23, 2015)
Table 13-1 Vermont Yankee Nuclear Power Station - SAFSTOR Methodology Annual Cash Flow Analysis - Total License Termination, Spent Fuel Management less Dry Fuel Costs (In Thousands in 2015 Dollars) (see column definitions below)
Year Column 1 50.75 License Termination Cost
($000s)
Column 2 50.54 (bb)
Spent Fuel Management Cost
($000s)
Column 3 Exclude Dry Fuel Spent Fuel Management Cost
($000s)
Column 4 License Termination Cost plus Spent Fuel Management Cost less Dry Fuel Cost
($000s)
Column 5 Beginning of Year Trust Fund Balance
($000s)
Column 6 Withdraw
($000s)
Column 7 Contribute
($000s)
Column 8 Trust Fund Earnings
($000s)
Column 9 Year Ending Trust Fund Balance
($000s) 2016 48,305 75,778 53,820 70,263 595,443 70,263 10,504 535,683 2017 11,007 49,345 29,882 30,471 535,683 30,471 10,104 515,317 2018 9,704 41,277 19,752 31,229 515,317 31,229 9,682 493,769 2019 8,299 36,929 17,022 28,205 493,769 28,205 9,311 474,875 2020 17,779 27,680 17,625 27,834 474,875 27,834 8,941 455,982 2021 5,303 4,055 9,358 455,982 9,358 8,932 455,557 2022 5,251 4,055 9,307 455,557 9,307 8,925 455,176 2023 5,251 4,055 9,307 455,176 9,307 8,917 454,786 2024 3,676 4,066 7,742 454,786 7,742 8,941 455,985 2025 3,616 4,055 7,671 455,985 7,671 8,966 457,280 2026 3,761 4,055 7,816 457,280 7,816 8,989 458,453 2027 3,812 4,055 7,867 458,453 7,867 9,012 459,597 3
CNRO-2016-00010 (Page 3 of 6)
Entergy Nuclear Operations, Inc.
Vermont Yankee Annual Cash Flow Analysis For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1)
Table 13-1 Vermont Yankee Nuclear Power Station - SAFSTOR Methodology Annual Cash Flow Analysis - Total License Termination, Spent Fuel Management less Dry Fuel Costs (In Thousands in 2015 Dollars) (see column definitions below)
Year Column 1 50.75 License Termination Cost
($000s)
Column 2 50.54 (bb)
Spent Fuel Management Cost
($000s)
Column 3 Exclude Dry Fuel Spent Fuel Management Cost
($000s)
Column 4 License Termination Cost plus Spent Fuel Management Cost less Dry Fuel Cost
($000s)
Column 5 Beginning of Year Trust Fund Balance
($000s)
Column 6 Withdraw
($000s)
Column 7 Contribute
($000s)
Column 8 Trust Fund Earnings
($000s)
Column 9 Year Ending Trust Fund Balance
($000s) 2028 3,770 4,066 7,836 459,597 7,836 9,035 460,796 2029 3,761 4,055 7,816 460,796 7,816 9,060 462,040 2030 3,812 4,055 7,867 462,040 7,867 9,083 463,256 2031 3,761 4,055 7,816 463,256 7,816 9,109 464,548 2032 3,770 4,066 7,836 464,548 7,836 9,134 465,846 2033 3,812 4,055 7,867 465,846 7,867 9,160 467,139 2034 3,761 4,055 7,816 467,139 7,816 9,186 468,509 2035 3,761 4,055 7,816 468,509 7,816 9,214 469,906 2036 3,821 4,066 7,887 469,906 7,887 9,240 471,259 2037 3,761 4,055 7,816 471,259 7,816 9,269 472,712 2038 3,761 4,055 7,816 472,712 7,816 9,298 474,194 2039 3,812 4,055 7,867 474,194 7,867 9,327 475,653 2040 3,770 4,066 7,836 475,653 7,836 9,356 477,173 2041 3,761 4,055 7,816 477,173 7,816 9,387 478,744 2042 3,812 4,055 7,867 478,744 7,867 9,418 480,294 2043 3,761 4,055 7,816 480,294 7,816 9,450 481,927 2044 3,770 4,066 7,836 481,927 7,836 9,482 483,573 2045 3,812 4,055 7,867 483,573 7,867 9,514 485,220 2046 3,761 4,055 7,816 485,220 7,816 9,548 486,952 2047 3,761 4,055 7,816 486,952 7,816 9,583 488,718 2048 3,821 4,066 7,887 488,718 7,887 9,617 490,447 2049 3,761 4,055 7,816 490,447 7,816 9,653 492,284 2050 3,761 4,055 7,816 492,284 7,816 9,689 494,157 2051 3,812 4,055 7,867 494,157 7,867 9,726 496,015 2052 3,770 4,066 7,836 496,015 7,836 9,764 497,942 2053 3,608 3,608 497,942 3,608 9,887 504,221 2054 3,659 3,659 504,221 3,659 10,011 510,574 2055 3,608 3,608 510,574 3,608 10,139 517,105 3
CNRO-2016-00010 (Page 4 of 6)
Entergy Nuclear Operations, Inc.
Vermont Yankee Annual Cash Flow Analysis For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1)
Table 13-1 Vermont Yankee Nuclear Power Station - SAFSTOR Methodology Annual Cash Flow Analysis - Total License Termination, Spent Fuel Management less Dry Fuel Costs (In Thousands in 2015 Dollars) (see column definitions below)
Year Column 1 50.75 License Termination Cost
($000s)
Column 2 50.54 (bb)
Spent Fuel Management Cost
($000s)
Column 3 Exclude Dry Fuel Spent Fuel Management Cost
($000s)
Column 4 License Termination Cost plus Spent Fuel Management Cost less Dry Fuel Cost
($000s)
Column 5 Beginning of Year Trust Fund Balance
($000s)
Column 6 Withdraw
($000s)
Column 7 Contribute
($000s)
Column 8 Trust Fund Earnings
($000s)
Column 9 Year Ending Trust Fund Balance
($000s) 2056 3,617 3,617 517,105 3,617 10,270 523,758 2057 3,659 3,659 523,758 3,659 10,402 530,502 2058 3,608 3,608 530,502 3,608 10,538 537,432 2059 3,608 3,608 537,432 3,608 10,676 544,500 2060 3,668 3,668 544,500 3,668 10,817 551,649 2061 3,608 3,608 551,649 3,608 10,961 559,002 2062 3,608 3,608 559,002 3,608 11,108 566,502 2063 3,659 3,659 566,502 3,659 11,257 574,100 2064 3,617 3,617 574,100 3,617 11,410 581,894 2065 3,608 3,608 581,894 3,608 11,566 589,851 2066 3,659 3,659 589,851 3,659 11,724 597,916 2067 3,608 3,608 597,916 3,608 11,886 606,195 2068 43,690 43,690 606,195 43,690 11,250 573,755 2069 93,039 93,039 573,755 93,039 9,614 490,331 2070 105,681 105,681 490,331 105,681 7,693 392,343 2071 85,618 85,618 392,343 85,618 6,134 312,859 2072 86,055 86,055 312,859 86,055 4,536 231,341 2073 50,949 50,949 231,341 50,949 3,608 184,000 2074 523 523 184,000 523 3,670 187,147 2075 302 302 187,147 302 3,737 190,582 740,517 360,863 138,101 963,280 595,443 963,280 558,418 190,582 As can be seen from the information provided in Table 13-1, the required funding for SAFSTOR decommissioning, $740.52 million, is greater than the NRC formula amount per 10 CFR 50.75(b) and (c) of $618.87 million, therefore, the site-specific analysis complies with the requirement from Regulatory Guide 1.159 section 1.1.1 previously discussed. The foregoing SAFSTOR analysis shows that when the December 31, 2015 DTF balance is escalated at the 3
CNRO-2016-00010 (Page 5 of 6)
Entergy Nuclear Operations, Inc.
Vermont Yankee Annual Cash Flow Analysis For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1) allowable rate and compared against the annual figures for the SAFSTOR period, that an approximately $190.6 million surplus exists at the end of the decommissioning project.
Accordingly, the licensee concludes that no further action is required at this time to demonstrate adequate funding assurance for decommissioning Vermont Yankee.
Table 13-1 Definitions:
Column 1:
50.75 License Termination Cost Reflects the Total Annual License Termination Plan cost in 2015 dollars at a 0.0% escalation rate Column 2:
50.54 (bb) Spent Fuel Management Cost Reflects the Total Annual Irradiated Fuel Management Plan cost in 2015 dollars at a 0.0% escalation rate Column 3:
Exclude Transfer to Dry Fuel Storage Cost Reflects the Transfer to Dry Fuel Storage Cost included in Column 2 that is planned to be funded by external credit facilities, in 2015 dollars at a 0.0%
escalation rate Column 4:
License Termination Cost plus Spent Fuel Management Cost less Transfer to Dry Fuel Storage Cost Reflects the Total Annual License Termination Plan cost plus Total Spent Fuel Management Plan cost less Transfer to Dry Fuel Storage cost all in 2015 dollars at a 0.0% escalation rate (Column 1 + Column 2 - Column 3)
Column 5:
Beginning of Year Trust Fund Balance Reflects the beginning of year Trust Fund balance in 2015 dollars at a 0.0%
escalation rate and 2.0% Fund Earnings 3
CNRO-2016-00010 (Page 6 of 6)
Entergy Nuclear Operations, Inc.
Vermont Yankee Annual Cash Flow Analysis For Year Ending December 31, 2015 - 10 CFR 50.75(f)(1)
Column 6:
Withdraw Reflects the annual expenditures from the Trust Fund in 2015 dollars at a 0.0%
escalation rate (equals Column 4)
Column 7:
Contribute Reflects the annual contributions to the Trust Fund in 2015 dollars at a 0.0%
escalation rate Column 8:
Trust Fund Earnings Reflects earnings on funds remaining in the trust. A 2.0% Earnings rate is used over a 0.0% cost escalation rate. The Annual 2.0% earnings are calculated on the beginning balance less 100% of the projected annual expenditure for each year. (Column 5 - 100% of Column 6)
- 2.0%
Column 9:
Year Ending Trust Fund Balance Reflects the end of year Trust Fund balance after all projected earnings are added and all projected expenditures are deducted specified at a 0.0%
escalation rate and 2.0% Fund Earnings in 2015 dollars. (Column 5 - Column 6 +
Column 7 + Column 8) 4 CNRO-2016-00010 (Page 1 of 6)
Entergy Nuclear Operations, Inc.
Minimum Financial Assurance Calculation Worksheets PWR 615
$85,560,000 125.6 2.16 0.65 2.71 1.882 1.590 0.13 1.76 0.22 13.885
$556,759,099
% Owned:
100.00%
Plant name:
Indian Point Energy Center, Unit 1 Month Day Year Year of Biennial:
12 31 2015 Termination of Operation:
9 28 2013 MWth 1986$
ECI Base Lx Amount of NRC Minimum/Site Specific:
Licensee:
Amount in Trust Fund:
Lx Px Fx Ex Bx Entergy
$556,759,099
$413,920,819 NRC Minimum:
$431,807,460 Site Specific:
Note: See Attachment 12 for adequacy of the trust fund.
4 CNRO-2016-00010 (Page 2 of 6)
Entergy Nuclear Operations, Inc.
Minimum Financial Assurance Calculation Worksheets PWR 3216
$103,300,800 125.6 2.16 0.65 2.71 1.882 1.590 0.13 1.76 0.22 13.885
% Owned:
100.00%
2%
0.00 1.00000 2%
2%
7 0.14869 Excess (Shortfall) to NRC minimum Less ISFSI Parent Co Guaranty Total Excess Financial Assurance Plant name:
Indian Point Energy Center, Unit 3 Month Day Year Year of Biennial:
12 31 2015 Termination of Operation:
12 12 2015 MWth 1986$
ECI Base Lx Amount of NRC Minimum/Site Specific:
Licensee:
Amount in Trust Fund:
Lx Px Fx Ex Bx Entergy
$521,342,404
$683,835,864 NRC Minimum:
$521,342,404 Site Specific:
$683,835,864
$683,835,864 Total Earnings = Trust Fund balance x (1+RRR)^Years left in license Step 2:
Step 1:
Earnings Credit:
Real Rate of Return per Years Left in License Total Real Rate of Trust Fund Balance:
Accumulation:
Value of Annuity per year Real Rate of Return per Years of Annuity:
Total Annuity:
$0 0
$0 Total Earnings:
Real Rate of Return per Decom Period:
Total Real Rate of Total Earnings for Decom:
Total Earnings:
Step 3:
Decom Period:
$734,674,160 Total = Total Earnings + Total Earnings for Decom
$683,835,864
$50,838,296 Total Earnings for Decom = (1/2) x Total Earnings x [(1+RRR)^Decom period - 1]
Total of Steps 1 - 3:
206,541,261 213,331,756 (6,790,496) 4 CNRO-2016-00010 (Page 3 of 6)
Entergy Nuclear Operations, Inc.
Minimum Financial Assurance Calculation Worksheets PWR 3216
$103,300,800 125.6 2.16 0.65 2.71 1.882 1.590 0.13 1.76 0.22 13.885
% Owned:
100.00%
2%
0.00 1.00000 2%
2%
7 0.14869 Excess (Shortfall) to NRC minimum Less ISFSI Parent Co Guaranty Total Excess Financial Assurance Plant name:
Indian Point Energy Center, Unit 2 Month Day Year Year of Biennial:
12 31 2015 Termination of Operation:
9 28 2013 MWth 1986$
ECI Base Lx Amount of NRC Minimum/Site Specific:
Licensee:
Amount in Trust Fund:
Lx Px Fx Ex Bx Entergy
$521,342,404
$529,053,777 NRC Minimum:
$521,342,404 Site Specific:
$529,053,777
$529,053,777 Total Earnings = Trust Fund balance x (1+RRR)^Years left in license Step 2:
Step 1:
Earnings Credit:
Real Rate of Return per Years Left in License Total Real Rate of Trust Fund Balance:
Accumulation:
Value of Annuity per year Real Rate of Return per Years of Annuity:
Total Annuity:
$0 0
$0 Total Earnings:
Real Rate of Return per Decom Period:
Total Real Rate of Total Earnings for Decom:
Total Earnings:
Step 3:
Decom Period:
$529,053,777
$39,331,357 Total Earnings for Decom = (1/2) x Total Earnings x [(1+RRR)^Decom period - 1]
Total of Steps 1 - 3:
$568,385,134 Total = Total Earnings + Total Earnings for Decom 40,890,541 47,042,730 (6,152,189) 4 CNRO-2016-00010 (Page 4 of 6)
Entergy Nuclear Operations, Inc.
Minimum Financial Assurance Calculation Worksheets BWR 1912
$121,208,000 125.6 2.16 0.65 2.71 1.882 1.590 0.13 1.75 0.22 14.16
% Owned:
100.00%
Plant name:
Vermont Yankee Power Station Month Day Year Year of Biennial:
12 31 2015 Termination of Operation:
12 29 2014 MWth 1986$
ECI Base Lx Amount of NRC Minimum/Site Specific:
Licensee:
Amount in Trust Fund:
Lx Px Fx Ex Bx
$740,517,165 Entergy
$740,517,165
$595,443,076 NRC Minimum:
$618,866,471 Site Specific:
Note: See Attachment 13 for adequacy of the trust fund.
4 CNRO-2016-00010 (Page 5 of 6)
Entergy Nuclear Operations, Inc.
Minimum Financial Assurance Calculation Worksheets BWR 2028
$122,252,000 125.6 2.16 0.65 2.71 1.882 1.590 0.13 1.75 0.22 14.16
% Owned:
100.00%
2%
3.42 1.07000 2%
2%
7 0.14869 Excess (Shortfall) to NRC minimum Less ISFSI Parent Co Guaranty Total Excess Financial Assurance Plant name:
Pilgrim Nuclear Generating Station Month Day Year Year of Biennial:
12 31 2015 Termination of Operation:
5 31 2019 MWth 1986$
ECI Base Lx Amount of NRC Minimum/Site Specific:
Licensee:
Amount in Trust Fund:
Lx Px Fx Ex Bx Entergy
$624,196,949
$895,714,834 NRC Minimum:
$624,196,949 Site Specific:
$895,714,834
$958,415,187 Total Earnings = Trust Fund balance x (1+RRR)^Years left in license Step 2:
Step 1:
Earnings Credit:
Real Rate of Return per Years Left in License Total Real Rate of Trust Fund Balance:
Accumulation:
Value of Annuity per year Real Rate of Return per Years of Annuity:
Total Annuity:
$0 0
$0 Total Earnings:
Real Rate of Return per Decom Period:
Total Real Rate of Total Earnings for Decom:
Total Earnings:
Step 3:
Decom Period:
$1,029,666,488 Total = Total Earnings + Total Earnings for Decom
$958,415,187
$71,251,301 Total Earnings for Decom = (1/2) x Total Earnings x [(1+RRR)^Decom period - 1]
Total of Steps 1 - 3:
396,494,438 405,469,538 (8,975,100) 4 CNRO-2016-00010 (Page 6 of 6)
Entergy Nuclear Operations, Inc.
Minimum Financial Assurance Calculation Worksheets BWR 2536
$126,824,000 125.6 2.16 0.65 2.71 1.882 1.590 0.13 1.75 0.22 14.16
% Owned:
100.00%
2%
1.07 1.02146 2%
2%
7 0.14869 Excess (Shortfall) to NRC minimum Less ISFSI Parent Co Guaranty Total Excess Financial Assurance Plant name:
James A. FitzPatrick Month Day Year Year of Biennial:
12 31 2015 Termination of Operation:
1 27 2017 MWth 1986$
ECI Base Lx Amount of NRC Minimum/Site Specific:
Licensee:
Amount in Trust Fund:
Lx Px Fx Ex Bx Entergy
$647,540,768
$746,189,340 NRC Minimum:
$647,540,768 Site Specific:
$746,189,340
$762,204,739 Total Earnings = Trust Fund balance x (1+RRR)^Years left in license Step 2:
Step 1:
Earnings Credit:
Real Rate of Return per Years Left in License Total Real Rate of Trust Fund Balance:
Accumulation:
Value of Annuity per year Real Rate of Return per Years of Annuity:
Total Annuity:
$0 0
$0 Total Earnings:
Real Rate of Return per Decom Period:
Total Real Rate of Total Earnings for Decom:
Total Earnings:
Step 3:
Decom Period:
$762,204,739
$56,664,460 Total Earnings for Decom = (1/2) x Total Earnings x [(1+RRR)^Decom period - 1]
Total of Steps 1 - 3:
$818,869,200 Total = Total Earnings + Total Earnings for Decom 163,156,923 171,328,432 (8,171,509)
$