ML17299B200
| ML17299B200 | |
| Person / Time | |
|---|---|
| Site: | Palo Verde  |
| Issue date: | 04/15/1986 |
| From: | Van Brunt E ARIZONA PUBLIC SERVICE CO. (FORMERLY ARIZONA NUCLEAR |
| To: | Office of Nuclear Reactor Regulation |
| References | |
| ANPP-36093-EEVB, NUDOCS 8604210314 | |
| Download: ML17299B200 (18) | |
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REGULA
.Y INFORMATION DIBTRIBUTIQ
'YSTEN (RIDB) a A/CESSION NBR: 86042i03i4 DOC. DATE: 86/04/i5 NOTARIZED: YES DOCKET FAC IL:STN-50-528 Palo Verde Nuc lear Stations Unit ii 'Arizona Pub li 05000528 STN-50-529 Palo Verde Nuclear Stations Unit 2i Arizona Pub 1 i 0500052'7 BTN-50-530 Palo Verde Nuc,lear Stations Unit 3. Arizona Publi 05000530 AUTH. NAl'lE AUTHOR AFFILIATION VAN BRUNT'. E.
Arizona Nuclear Power Prospect (formerly Arizona Public Serv REC IP. NANE RECIPIENT AFFILIATION Office of Nuclear Reactor Regulation.
Director (post 85ii25
SUBJECT:
Forwards i985 actual h 1986 prospected cash flow statements for utils. Requests change in annual submittal date for guarantees of pagment.of deferred premiums to June i.
DISTRIBUTION CODE:
N004L COPIEB RECEIVED: LTR J ENCL j SIZE:
TITLE: Annual Financial Reports NOTES: Standardized plant.
Standardized plant.
Standardl zed plant
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=05000528 05000529 05000530 RECIPIENT ID CODE/MANE PWR-8 PD7 LA Oi LICITRAiE COPIES LTTR ENCL i
0 RECIPIENT ID CODE/NAl'1E PWR-8 PD7 PD CQP IES LTTR ENCL 0
INTERNAL R ('I EXTERNAL: 24X NRC PDR 04 02 i
i i
i LPDR 03 TOTAL NUBBER QF COP IEB REQUIRED:
LTTR 8
ENCL 6
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Arizona Nuclear Power Project P.o. BOX 52034
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PHOENIX, ARIZONA85072-2034 Director of Nuclear Reactor Regulation U.S.
Nuclear Regulatory Commission Washington, D.C.
20555 April 15, 1986 ANPP-36093-EEVB/JRP/98.05
Subject:
1 Palo Verde Nuclear Generating Station (PVNGS)
Units 1, 2 and 3
Docket Nos.
STN 50-528(License No. NPF-41)/529 (License No. NPF-46)/530 Licensee Guarantee of Payment of Deferred Premium File: 86-055-026
Reference:
Letter from E.
E.
Van Brunt, Jr.
(ANPP-32596) dated May 10, 1985 to the Director of NRR.
Dear Sir:
Arizona Public Service Company for itself and on behalf of the participants in the Palo Verde Nuclear Generating Station have elected to furnish Annual Certified Finan-cial Statements pursuant to 10 CFR Part 140.21, as defined in subpart (e) of this section.
As stated in the referenced letter we hereby request that the Commission use as a
due date June 1, for the annual submittal of the licensee's guarantees of payment of deferred premiums.
The reason for a change from the Indemnity Agreement effective date is that it was necessary to find an acceptable date by which all PVNGS partici-pants could respond during their normal business cycle.
We are, at this
- time, forwarding to you the 1985 actual cash flow statements and will furnish the projected 1986 cash flow statements for all participants by June 1,
1986.
Should you have any questions, please call.
EEVB/JRP/rw Attachments Very truly your c -W. avw E.
E ~
Van Brunt, Jr.
Executive Vice President Project Director cc:
Director Region V,
USNRC NRC Project Manager E.
A. Licitra NRC Resident Inspector R.
P.
Zimmerman 8b04210314 8b0415 PDR ADOCK 05000028j z
1
Director of Nuclear Reactor Regulation Licensee Guarantee of Payment of Deferred Premium ANPP-36093 Page 2
bcc:
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RE ED R.
ED R. J.
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LCTS Cocanour Ouinn ndy Brackney Hartsig Younger Gouge Adney Asher Coordinator
STATE OF ARIZONA
)
) ss.
COUNTY OF MARICOPA)
I, Edwin E.
Van Brunt, Jr.,
represent that I am Executive Vice President, Arizona Nuclear Power Project, that the foregoing document has been signed by me on behalf of Arizona Public Service Company with full authority to do so, that I have read such document and know its contents, and that to the best of my knowledge and belief, the statements made therein are true.
Edwin E. Van Brunt, Jr.
Sworn to before me this
/Q day of
, 1986.
Notary Public My Commission Expires:
.";ly (','vri>.'".."; L~;":ira; Agre. 6, 1.87
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L ARIZONA PUBLIC SERVICE COMPANY 1986 NET CASH FLOW PROJECTION FOR PALO VERDE NUCLEAR GENERATING STATION
($000)
PARTICIPANT:
Arizona Public Service Company 1985 Actual 1986 ')
~Pro ected 1.
2.
3.
4.
5.
6.
7 ~
8.
9 10.
11.
12.
13; Net income after taxes Less dividends paid:
Preferred dividend requirements Dividends on common stock Retained earnings Adj us tments:
Depreciation and amortization Deferred income taxes ITC net deferred Allowance for funds used during construction (equity and borrowed)
Other
/
Total Adjustments Internal cash flow (5 - 12)
$ ;325,423 (44,412)
~'94,091) 86,920 99,221
-'2'855(')
36,383 (191,788) 3 1,688) 14,983
$ 101,903
$ 217,170 (41,882) 203,818) 28,530) 167,247(2) 96,163 21,558 (126,451) 3 1,688) 156,829 128,299 14.
Average quarterly cash flow (13
-:. 4) 25,476 32,075 Percentage ownership in all nuclear units:
Unit 1 - 29.1g Unit 2 - 29.1%
Untt 3 - 29.1%
Maximum total contingent liability for PVNGS
=
$30,000,000
($10,000,000 per unit)
Projected data assumes present rate level.
Excludes deferred income taxes on deferred fuel.
Amortization of tax benefits sold in 1981.
2/4/86
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SOUTHERN CALIFORNIA EDISON COMPANY 1905 Internal Cash Flow Projections (Dollars in Thousands)
Net Income After Taxes Dividends Paid Retained Farnings Adjustments:
Depreciation S Amortization Deferred Taxes Allowance for Funds U ed During Construction Total Adjustments Internal Cash Flow 1904 Actual 8732, 000 (492,000) 399,000 186,000 (195,000) 390,000 630 000 1905 Pro ected 455, 000 198i000 (180,000) 473,000 Average Quarterly Cash Flow
~157 500 Percentage Ownership in All Nuclear Units:
San Onofre Huclear Generation Station Unit I Southern California Edison San Diego Gas S Electric Company San Onofre Nuclear Generating Station Units 2 and 3
Southern California Edison Company San Diego Gas
& Electric Company City of Anaheim City of River"ide Palo Verde Nuclear Generating Station Unit 1 tlaximum Total Contingent Liability:
80.00%
20.00%
- 75. 05'5 20.00%
3.168 1.79%
15.000 San Onofrc San Onofre San Onofre Palo Verde Nuclear Generating Station Unit 1 Nuclear Generating Station Unit 2
Nuclear Generating Station Unit 3 Nuclear Generating Station Unit 1 410,000 10,000 10,000 1,580
$ 3~1 580 Company policy prohibits disclosure of financial data wl1ich will enable unauthorized person" to forecast earnings or
- dividend, unle " assured confidentiality.
The Net E timated Cash Flow for 1905 is expected to be comparable to the Actual Cash Flow for 1904.
09251
i'4-Feb-86 (NRC REQ)
"SALT RIVER PROJECT.
INTERNAL CASH FLOM PROJECTION FOR PALO VERDE NCULEAR GENERATING STATION FOR FISCAL YEARS ENDED APRIL 30, 1985 AND 1986
($000) 1985 ACTUAL 1986 PROJECTED Net Income after ta"es Less dividends paid:
Preferred dividend requirements Dividends on common stock 215,677 163,983 Retained Earnings 215,677
-163,983 Adjustments:
Depreciation and amorti".ation Deferred Income Taxes and Investment Ta-Credits Allowance for Funds Used During Construction 40ther Total Adjustments Internal Cash Flow 71.811 94, 602 (52, 086) 70, 178 163,591 234>161
( 123, 897)
( 1 15. 077) 0 90, 653 Average Quarterly Cash Flow 40, 898 58,540 Percentage Ownership in all nuclear units'nit 1
Unit 2 Unit
.3. 19/
- 23. 19/
23.19X 17.49X 17.49/
17.49/
SRP exchanged with Los Angeles Dept of Mater and Power a 5.?0/
interest of Palo Verde for an additional 30/ interest in Coronado Generating Station and
$ 181,274,000 of which $90,653,000 was received in January 1986.
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1985 CONSOLIDATED INTERNAL CASH FLOW STATEMENT FOR PALO VERDE NUCLEAR GENERATING STATION (OOOO)
For the year ending Docombor 31, 1985 PARTICIPANT:
EL PASO ELECTRIC COHPANY 1985 ACTUAL 1986 PROJECTED 1.
Not: income after taxes 2.
Loss dividends paid:
3.
Proforred dividend requiromont:s 113,071 14, 754 4.
Dividends on common st:ock 50,867 5.
Rotainod earnings 6.
Retained earnings 7.
Adjustments:
47,450 9 ~
10.
12.
13.
Depreciation and amortization Deferred income taxes ITC adjustment
- not Allowance for funds used during construction (equity
&. borrowed)
Ot:her Total adjust:ment:s 14,755 46,085 (3,764)
(99,040) 2,702 (39,262) 14.
Int:ernal cash flow (5 + 12) 15.
Average quart:erly cash flow (13
- 4)
Percentage ownership in all nuclear unit:s Unit 1
Unit 2-Unit 3 8,188 2,047
- 15. 8%%d 15.
S%%d 15.
8%%d IIaximum tot:al contingent liability for PVNGS = $30,000,000
($ 10,000,000 per unit)
El Paso Elect:ric Company's share
= $4,740,000
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PNM 1985 Actual Internal Cash Flow (SOOO)
PARTICIPANT 1.
2.
3.
4 ~
5.
6.
7 ~
8.
9.
10.
11.
12.
Net Income After Taxes Less Dividends Paid:
Preferred Dividend Requirements Dividends on Common Stock Retained Earnings Adjustments:
Depreciations and Amortization Deferred Income Taxes ITC Adjustment - Net Allowance for Funds used During Construction (Equity 6 Borrowed)
Other Total Adjustments 13.
Internal Cash Flow (5 12) 14.
Average Quarterly Cash Flow (13 + 4)
Percentage Entitlement In All Nuclear Units Unit 1 10.2X Unit 2 10.2X Unit 3 - 10.2X 1985 Actual
$146,310 (23,901)
(106,670) 15,739 58,392 27,307 (3,737)
(80,793)
(3~321)
(2,062) 13,677 3,419
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1986 Internal Cash Flow Projection of Los Angeles Department of Water and Power for Palo Verde Nuclear Power Station (Dollars in Thousands)
Prior Year Projection Actual Total Year Total Net Income Less Transfer to City Retained Earnings Adjustments Depreciation and Amortization Allowance for Funds Used During Construction Total Adjustments Internal Cash Flow
,$ 213,630 (58,867)
$ 154,763
$ 105,483 (3,208)
$ 102,275
$ 257,038
$ 279,600 (64,400)
$ 215,200
$ 108,200 (5,400)
$ 102,800
$ 318,000 Average Quarterly Cash Flow
$ 64,260 79,500 Percentage Ownership in All Operating Nuclear Units Palo Verde 5.7%
Maximum Total Contingent Liability
$ 570,000 EHK:ag 1-13-86
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