ML17250A674

Forwards Info Re Actual Cash Flow & Certified Financial Statement for 1979 to Support Util Guarantee That Retrospective Premium Can Be Payed Per Alternative Method 5

ML17250A674
Person / Time
Site:	Ginna
Issue date:	10/02/1980
From:	Kowba S ROCHESTER GAS & ELECTRIC CORP.
To:	Saltzman J Office of Nuclear Reactor Regulation
References
NUDOCS 8010080410
Download: ML17250A674 (7)

Text

'V REG ATORY INFORMATION DISTRIBl'~'ION'YSTEM (RIDS)

ACCESSION NBR;8010080410 DOC ~ DATE: 80/10/02 NOTARIZED: NO DOCKET FACIL:50 244 BYNAME Robert El@met Ginna Nuclea'r Plant~ Unit- ir Rochester G 050002 44 AUTH AUTHOR AFFILIATION KOI'IBArS~ Rochester Gas 8 Electric Corp. I t

REC I P, NAME REC'IP IENT'FFILIATION SAL'TZMANFJ, Utility Finance Branch

SUBJECT:

Forwar'ds info, re actual cash flow 8 certified"financial statement'or 19T9 to- support util guarantee that retrospective premium, can be payed per Al,ternetive Method 5..

DISTRIBUTION CODE: MOORS COPIES RECEIVED:LTR TITLE: Annual Financia.l Reports j ENCL< g SIZE: 4 NOTES: 1 copy:SEP. Sects Ldr.. 05000244 REC'IP IENT COP'IES REC IP lENT COPIES ID CODE/NA9E LITTR ENCL ID, CODE/NAME: LTTR ENCLT ACTION: CRUTCHFIIELD i 0 SMITHr H ~ 05 1.. ~ 1 NOVI CKI z S>>, 1. 0 INTERNAL: NRC PDR 02 1 1 REG F L 01 UT FIN BR 1 1 EXTERNAL>> LPDR 03 1 1 OCT 0 198P TOTAL NUMBER OF COPIES REQUIRED) LiTTR /F ENCL'

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Ieger IIIttII ROCHESTER GAS AND ELECTRIC CORPORATION ~ 89 EAST AVENUE, ROCHESTER. N.Y. 14649 TELEPHONE STEPHEN KOWBA AREA COOE Tld 546.2700 ASSISTANT CONTROLLER October 2, 1980 Mr. Jerome Saltzman, Chief Antitrust & Indemnity Group Nuclear Reactor Regulation Nuclear Energy Commission Washington, D C 20555 Re: Docket No. 50-244

Dear Mr. Saltzman:

Enclosed is material required under Alternative Method No. 5 to support a guarantee by Rochester Gas and Electric Corporation that it can pay the retrospective pre-miums which might be required under the Secondary Financial Protection system.

Attachment A summarizes the actual cash flow for the calendar year 1979 and the projected cash flow for the calendar year 1980.

Attachment B is a certified financial statement covering the three months ended December 31, 1979 and 12 months ended December 31, 1979.

curtail any We do not believe that it would be necessary capital expenditures if a retrospective premium to had to be paid. However, if future circumstances were such as to impact capital expenditures, we probably would delay upgrading distribution facilities which would not have an immediate impact on our service standards.

Very truly yours, hen Kowba ~OEI 8 Enclosures 5

Attachment A Rochester Gas and Electric Corporation 1980 Cash Flow Projection For R. E. Ginna Nuclear Power Station (000's) 1980 Projected 1979 (9 Mos. Actual, Actual 3 Mos. Forecast)

Net Income After Taxes $ 39,565 $ 45,770 Less Dividends Paid 28 793 34 323 Retained Earnings $ 10,772 $ 11,447 Adjustments:

Depreciation and Amortization $ 40,829 $ 48,616 Deferred Income Taxes 2,596 2,418 Deferred Fuel Costs (4,'755) (5,060)

Allowance for Funds Used During Construction (17 211) (18 353)

Total Adjustments $ 21,459 $ 27,621 Internal Cash Flow 8 32 231 8 39 068 Average Quarterly Cash Flow 8 8 058 $ 9 767 Percentage Ownership in All Operating Nuclear Units R. E. Ginna 100%

Maximum Total Contingent Liability $ 10,000

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Attachment B Rochester Gas and Electric ~poration Statement of Income (000's)

Three Months Ended Year Ended December 31 1979 December 31 1979 Revenue Electric 9 50,457 $ 219,373

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Gas 40,862 140,527 Steam 5 075 19 988 96 394 3794888 Electric sales to other utilities 11 849 37 804 108,243 417,692 Expense Electric and steam fuels 16,011 62,109 Purchased electricity 7,869 31,937 Deferred fuel electric and steam (2,173) (1,038)

Purchased natural gas 31,070 89,804 Other operation 19,033 72,264.

Maintenance 7 190 30 129 Total operation and maintenance expense 79,000 285,205 Depreciation 6,100 23,703 Taxes-Local, state and other 12,090 49,916 Federal income tax current (2,348) (36) deferred 1,502 6,162 Regulatory allowance for costs not currently recoverable 620 620 Operating Income 11,279 52,122 Other Income and Deductions Allowance for other funds used during construction 2,820 11,439 Other net 846 3 774 3,666 15,213 Income before Interest Charges 14,945 67,335 Interest Charges Long-term debt 7,247 29,084 Short-term debt 1,759 4,016 Other net 109 441 Allowance for borrowed funds used during construction (1 364) (5 771) 7,751 27,770 Net Income 7,194 39,565 Dividends on Preferred and Preference Stock 1 957 6 645 Earnings Applicable to Common Stock $ 5 237 8 32 920 I hereby certify these Financial Statements to be correct to the best of my knowledge and belief.

ROCHESTER GAS AND ELECTRIC CORPORATION By

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