ML17258A795

Forwards Summary of Actual Cash Flow for 1980,projected Cash Flow for 1981 & Financial Statement for 3 & 12 Months Ended 801231.Info Supports Util Guarantee to Pay Retrospective Premiums Required by Secondary Financial Protection Sys

ML17258A795
Person / Time
Site:	Ginna, Sterling
Issue date:	02/10/1981
From:	Kowba S ROCHESTER GAS & ELECTRIC CORP.
To:	Saltzman J Office of Nuclear Reactor Regulation
References
NUDOCS 8102180549
Download: ML17258A795 (7)

Text

REGULATORY IAI-ORMATION DISTRIBUTION SYST ~ (RIDS).

ACCESSION NBR:8102180549 DOC,DATE: 81/02/10 NOTARIZED: NO FACIL:50"244 Robert Emmet Ginna Nuclear Planti Unit 1E,Rochester G 50"485 Sterling Power Nuclear Projecti Unit li Rochester 05000485 AUTH ~ NAME AUTHOR AFFILIATION KONBAES. Rochester Gas 8 E'lectric Corp.

RECIP NAM4 RECIPIENT AFFILIATION SALTZMANEJ ~ Utility Finance Branch (formerly Antitrust 8 Indemnity)

SUBJECT:

Forwards summary of actual cash flow for 1980rproj ected cash flow for 1981 8 financial statement for 3 8 12 months ended 841231 Info suppor ts util guarantee to pay retrospective

~

premiums required by secondary financial pt otection sys ~

OISTRISUTION CODE'OD IS COPIES RECEIVED:LTR +ENCL g SIZE:

TITLE: Insur ance: Indemni ty/Endorsement Agreements NOTES: 1 copy;SEP Sects Ldr. 05000244 Standardized Plant. I8E: 3 copies all material. Inactive, '05000485 RECIPIENT COPIES RECIPIENT "

COPIES Io CODE/NAME CTTR ENCL ID CODE/NAME L'TTR ENCL INTERNAL: A/ NSNG 07 1 0 NRC PDR 02 1 1 F IL 01 1 1 SOULESEJ ~ 06 1 R 08 1 EXTERNAL: LPDR 03 NSIC 1 1 FEB 20 1S81

/n TOTAL NUMBER OF COPIES REQUIRLID: LTTR ~ ENCL

l t L1i0 0 I

/ IIIIISI

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N(lilt rzis7iss zzzzzz ROCHESTER GAS AND ELECTRIC CORPORATION ~ 89 EAST AVENUE, ROCHESTER, N.Y. 14649 TE'LKRHONC STEPHEN KOWBA ARSA COOS 7la 546-2700 ASSISTANT CONTROLLER February 10, 1981 Mr. Jerome Saltzman, Chief Antitrust 6 Indemnity Group Nuclear Reactor Regulation Nuclear Energy Commission Washington,- D C 20555 Re: 10 CFR Part 140, Section 140. 21

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 1980 and the projected cash flow for the calendar year 1981.

Attachment B is a certified financial statement covering the three months ended December 31, 1980 and 12 months ended December 31, 1980.

We do not believe that it would be necessary to curtail any capital-expenditures if if acircumstances future retrospective premium were such as had to be paid. However, to -impact capital expenditures, we probably would delay

~~upgrading.distribution facilities which would not have an immediate impact on our service standards.

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I Very truly yours,

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Step en Kowba 5

@~Encl@sures

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Attachment B R ster Gas and Electric Corpora Statement of Income (000's)

Three Months Ended Year Ended December 31 1980 December 31 1980 Revenue Electric $ 70,177 $ 245,005 Gas 51,200 181,046 Steam 5 691 23 589 127,068 449,640 Electric sales to other utilities 14 276 52 786 C

141,344 502,426 Expense Electric and steam fuels 27,297 86,622 Purchased electricity 6,777 23,796 Deferred fuel electric and steam (4,548) (6,911)

Purchased natural gas 43,080 127,759 Other operation 21,059 81,960 Maintenance 8 020 32 048 Total operation and maintenance expense 101,685 345,274 Depreciation 7,847 27,800 Taxes-Local, state and other 14,771 56,984 Federal income tax current (4,161) 393 deferred 8 428 12 443 Operating Income 12,774 59,532 Other Income and Deductions Allowance for other funds used during construction 2,824 11,710 Other - net 905 4 772 3,729 16,482 Income before Interest Charges 16,503 76,014 Interest Charges, Long-term debt 8,778 34,129 Short-term debt 1,092 4,298 Other net 76 755 Allowance for borrowed funds used during construction (1 602) (6 820) 8,344 32,362 Net Income 8, 159 43,652 Dividends on Preferred and Preference Stock 2 634 8 927 Earnings Applicable to Common Stock 8 5525 8 34 725 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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Attachment A Roc ster Gas and Electric Corporat 1981 Cash Flow Projection For R. E. Ginna Nuclear Power Station (000's) 1980 Actual 1981 Forecasted Net Income After Taxes $ 43,652 $ 51,039 Less Dividends Paid 32 612 39 328 Retained Earnings $ 11,040 $ 11,711 Adjustments:

Depreciation and Amortization $ 48,589 $ 53,588 Deferred Income Taxes 6,927 5,139 Deferred Fuel Costs (4,813) 8,947 Allowance for Funds Used During Construction (18 531) (22 133)

Total Adjustments $ 32,172 $ 45,541 Internal Cash Flow 8 43 212 8 57 252 Average Quarterly Cash Flow 8 10 803 8 14 313 Percentage Ownership in All Operating Nuclear Units R. E. Ginna 100/

Maximum Total Contingent Liability $ 10,000

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