ML17305A866

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Forwards Projected 1990 Cash Flow Statements
ML17305A866
Person / Time
Site: Palo Verde  Arizona Public Service icon.png
Issue date: 05/31/1990
From: Conway W
ARIZONA PUBLIC SERVICE CO. (FORMERLY ARIZONA NUCLEAR
To:
NRC OFFICE OF INFORMATION RESOURCES MANAGEMENT (IRM)
References
161-03255-WFC-J, 161-3255-WFC-J, NUDOCS 9006110359
Download: ML17305A866 (11)


Text

ACCELERATED ~STMBUTION DEMONSTPA,TION SYSTEM

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REGULATORY INFORMATION DISTRIBUTION SYSTEM (RIDS)

ACCESSION NBR:9006110359 DOC.DATE: 90/05/31 NOTARIZED: NO DOCKET FACIL:STN-50-528 Palo Verde Nuclear Station, Unit 1, Arizona Publi 05000528 STN-50-529 Palo Verde Nuclear Station, Unit 2, Arizona Publi 05000529 STN-50-530 Palo Verde Nuclear Station, Unit 3, Arizona Publi 05000530 AUTH. NAME AUTHOR AFFILIATION CONWAY,W.F. Arizona Public Service Co. (formerly Arizona Nuclear Power R RECIP.NAME RECIPIENT AFFILIATION Document Control Branch (Document Control Desk)

SUBJECT:

Forwards projected 1990 cash flow statements.

DISTRIBUTION CODE: M004D COPIES RECEIVED:LTR ENCL SIZE' TITLE: 50.71(b) Annual Financial Report NOTES:

Standardized plant.

05000528 05000529

/

Standardized plant. 05000530 A D

RECIPIENT COPIES RECIPIENT COPIES ID CODE/NAME LTTR ENCL ID CODE/NAME LTTR ENCL D PD5 PD 1 1 PETERSON,S. 1 0 CHAN,T 1 0 INTERNAL: AEOD DO 1 1 AEOD/DSP/TPAB 1 1 G ILE 01 1 1 EXTERNAL: LPDR 1 1 NRC PDR 1 1 NOTES: 1 1 D

D D

NOTE TO ALL "RIDS" RECIPIENTS:

PLEASE HELP US TO REDUCE WASTE! CONTACT THE DOCUMENT CONTROL DESK, ROOM Pl-37 (EXT. 20079) TO ELIMINATEYOUR NAME FROM DISTRIBUTION LISTS FOR DOCUMENTS YOU DON'T NEED!

TOTAL NUMBER OF COPIES REQUIRED: LTTR 9 ENCL 7

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Arizona Public Service Company P.O. BOX 53999 ~ PHOENIX. ARIZONA85072<999 WILLIAMF. CONWAY EXECUTIVEVICE PRESIDENT 161-03255-WFC/JRP NUCLEAR May 31, 1990 Docket Nos. STN 50-528/529/530 Document Control Desk U. S. Nuclear Regulatory Commission Mail Station Pl-37 Washington, D. C. 20555

Dear Sir:

Subj ect: Palo Verde Nuclear Generating Station (PVNGS)

Units 1, 2, and 3 Licensee Guarantee of Payment of Deferred Premium File: 90-003-240 Pursuant to the requirements of 10 CFR Part 140.21, as defined in subpart (e) of this section, Arizona Public Service Company, for itself and on behalf of the participants in Palo Verde Nuclear Generating Station, with the exception of Southern California Public Power Authority and Southern California Edison which have submitted their Financial Statements, Annual Reports and latest official statements for the Palo Verde Project directly to the NRC, herewith submits the projected 1990 cash flow statements.

Should you have any questions or concerns, please call J. R. Provasoli at (602) 340-4160.

Sincerely, WFC/JRP/j le Attachment cc: T. L. Chan S. R. Peterson D. H. Coe J. B. Martin A. C. Gehr A. H. Gutterman g5 1'DC 9006ii0359 90053i PDR ADOCK 05000528

NCF90 CJD-M4 ARIZONA PUBLIC SERVICE COMPANY 1990 Net Cash Flow, Projection for Palo Verde Nuclear Generating Station (000'S) 1989 1990 Actual Projected Participant: ARIZONA PUBLIC SERVICE COMPANY

1. Net Income After Taxes $ 212,354 $ 217,809 Less.
2. Dividends Paid on Preferred Stock 31,823 34,059
3. Dividends Paid on Comnon Stock 210,944 210,944
4. Retained Earnings (30,413) (27, 194)

Adjustments:

5. Depreciation and Amortization (1) 219,650 256,588
6. Deferred Income Taxes (2) 95,038 91,850
7. ITC Net Deferred (6, 159) (7,452)
8. Allowance for Funds Used During Construction (Equity & Borrowed) (16,408) (19,284)
9. Gross Cost Deferrals (141,850) (135,614)
10. Decereissioning (5,685) (5,685)
11. Other (3) (1,688) (1,688)
12. Total Adjustments 142,898 178,715
13. Internal Cash Flow (Line 4 + Line 12) 112,485 151,521
14. Average Quarterly Cash Flow (Line 13/4) 28,121 37,880 Percentage Ownership in All Nuclear Units:

Unit 1 - 29.1%

Unit 2 - 29.1X (4)

Unit 3 . 29.1/.

Maximun Total Contingent Liability for PVNGS is &30,000,000 ($ 10,000,000 per Unit)

(1) Includes Nuclear Fuel Amortization.

(2) Excludes Deferred Income Taxes on Deferred Fuel Adjustment Revenues.

(3) Includes Amortization of Tax Benefits Sold in 1981.

(4) Includes Portion of Palo Verde Unit 2 Leased.

~ I 19-May-90 (NRC REO!

INTERNAL CASH FLOW PROJECTION FOR PALO VERDE NUCLEAR GENERATINS STATION FOR FISCAL YEARS ENDED APRIL 30. 1989 AND 1990 (4000) 1989 1990 ACTUAL PROJECTED Net Income after taxes 11,76=" (4,028)

Less dividends paid:

Pre f erred dividend requirements Dividends on common stock Retained Earnings 11,763 (4,028)

Adjustments:

Depreciation and amorti "ation 150, 652 1525044 Deferred Income Taxes and Investment Tax Credits Allowance for Funds Used During Construction (14,947) {6,004)

Total Adjustments 135,705 146,040 Internal Cash Flow 147,468 142,012 Average Quarterly Cash Flow Z6.867 i5, 503 Percentage Ownership in all nuclear units Unit 1 17 '9/

'9/ 17.49/

'9/

Unit 2 17 17 Unit 17. 49/ 17.49/

1990 Internal Cash Flow Projection of Los Angeles Department of Water and Power for Palo Verde Nuclear Power Station (Thousands of Dollars) 1988-89 1989-90 Actual Projected Total Total Net Income $ 193,429 $ 173,200 Less Transfer to City ~78 502 ) ~85 800 }

Retained Earnings 114,927 87,400 Adjustments Depreciation and Amortization 136,954 146,900 Allowance for funds used construction 'uring 7 268) ~8100)

Total Adjustments 129 686 138 800 Internal Cash Flow $ 244 613 226 200 Average Quarterly Cash Flow $ 61 153 56 550 Percentage Ownership in all operating nuclear units Palo Verde 5.7c Maximum Total Contingent Liability per 1 710 000 Occurrence per year

1 lc II

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1990 PRO FORMA CASH FLOW STATEMENT FOR PUBLIC SERVICE COMPANY OF NEW MEXICO (Excluding Non-utility Subsidiaries) 198 Ac ual 1 Pr 'ected Net Income After Taxes 83,634 (5,648)

Less Dividends Paid ~26 333) ~10 2 8 Retained Earnings 57,304 (15,946)

Adjustments:

Depreciation and Amortization 71,981 72,256 Deferred Income Taxes and Investment Tax Credits 26,846 3,483 Allowance for Equity Funds Used During Construction (2,909) (1,967)

Other, Non-Cash ~67 4 44 284 TOTAL ADJUSTMENTS 102 712 118 056 INTERNAL CASH FLOW 160 016 102 110 Average Quarterly Cash Flow 40,004 25,528 Percentage Entitlement in all Nuclear Units:

Palo Verde Unit 1 10.2%

Palo Verde Unit 2 10.2%

Palo Verde Unit 3 10.2%

By:

Robert M. Wilson Controller and Assistant Secretary

1989"90 INTERNAL CASH FLOW PROJECTION EL PASO ELECTRIC COMPANY (THOUSANDS OF DOLLARS) 1989 1990 Net Income After Taxes S(105,836) 13,723 Less Dividends Paid 25pl65 10,338 Increase in Retained Earnings (130 p 999) 3p385 Adjustments:

Depreciation and Amortization 60,537 45p091 Deferred Income Taxes and ITC 16,361 2p851 AFUDC (29,898) (12,396)

Total Adjustments 26,980 35,566 Internal Cash Flow S(106p019) 38,931 Average Quarterly Cash Flow $ (26p005) 9p733 Percentage Ownership in Unit 1 15.8%

All Operating Unit 2 15.8%

Nuclear Units Unit 3 15.8%

Maximum Total Contingent Liability