ML17310A321

Forwards Projected 1993 Cash Flow Statements as Evidence of Licensee Guarantee of Payment of Deferred Premiums

ML17310A321
Person / Time
Site:	Palo Verde
Issue date:	06/01/1993
From:	Conway W ARIZONA PUBLIC SERVICE CO. (FORMERLY ARIZONA NUCLEAR
To:	NRC OFFICE OF INFORMATION RESOURCES MANAGEMENT (IRM)
References
102-02529-WFC-J, 102-2529-WFC-J, NUDOCS 9306110150
Download: ML17310A321 (9)

Text

ACCEI ERAT DOCUMENT DISTMBUTIONSYSTEM

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-"i REGULAT INFORMATION DISTRIBUTION(STEM (RIDE)

ACCESSION NBR:9306110150 DOC.DATE: 93/06/Ol NOTARIZED:

NO DOCKET FACIL".STN-50-528 Palo Verde Nuclear Station, Unit 1, Arizona Publi 05000528 S7N-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 CONWAYFW.F.

Arizona Public Service Co. (formerly Arizona Nuclear Power RECIP.NAME RECIPIENT AFFILIATION Document Control Branch (Document Control Desk)

I

SUBJECT:

Forwards projected 1993 cash flow statements as evidence of licensee guarantee of payment of deferred premiums.

DISTRIBUTION CODE:

M004D COPIES RECEIVED:LTR l

ENCL L SIZE:

TITLE: 50.71(b)

Annual Financial Report NOTES:STANDARDIZED PLANT Standardized plant.

Standardized plant.

D 05000528 05000529 A

05000530 D

RECIPIENT ID CODE/NAME PDV LA TRAMMELL,C COPIES LTTR ENCL 1

1 1

1 RECIPIENT ID CODE/NAME PDV PD TRAN,L COPIES LTTR ENCL 1

1 1

1 D

'INTERNAL: AEOD/DOA EXTERNAL: NRC PDR 1

1 1

1 G FIL 01 1

1 D

D NOTE TO ALL"RIDS" RECIPIENTS:

PLEASE HELP US TO REDUCE %ASTEI CONTACT THE DOCUMENT CONTROL DESK, ROOM Pl-37 (EXT. 504-2065) TO ELIMINATEYOUR NAME FROM DISTRIBUTION LISTS FOR DOCUMENTS YOU DQN'T NEED1 D

S TOTAL NUMBER OF COPIES REQUIRED:

LTTR 7

ENCL 7

7 I

WILLIAMF. CONWAY EXECUTIVEVICEPRESIDENT NUCLEAR Arizona Public Service Company P.O. BOX 53999

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PHOENIX. ARIZONA85072<999 102-02529-WFC/J RP June 1, 1993 U. S. Nuclear Regulatory Commission ATTN: Document Control Desk Mail Station P1-37 Washington, DC 20555

Subject:

Palo Verde Nuclear Generating Station (PVNGS)

Units 1, 2, and 3 Docket Nos. STN 50-528/529/530 Licensee Guarantee of Payment of Deferred Premium File: 92-003-240 Pursuant to the requirements of 10 CFR 140.21 (e), Arizona Public Service Company, for itself and on behalf of the PVNGS participants, herewith submits the projected 1993 cash flow statements.

If you should have any questions, please contact Thomas R. Bradish of my staff at (602) 393-5421.

Sincerely, WFC/JRP/ap Enclosure cc:

J. B. Martin J. A. Sloan A. H. Gutterman

.I r,rir. M 9306110150 930601 PDR ADDCK 05000528 J

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ARIZONAPUBLIC SERVICE COMPANY 1993 Net Cash Flow Projection for Palo Verde Nuclear Generating Station (000's) 2.

3.

Participant:

ARIZONAPUBLIC SERVICE COMPANY Net Income After Taxes Less:

Dividends Paid. on Preferred Stock Dividends Paid on Common Stock 1992 Actual

$246,805 32,574 170,000 1993 Projected

$259,468 31,432 170,000 4.

Retained Earnings 44,231 58,036 13.

14.

Internal Cash Flow (Line 4+ Line 12)

Average Quarterly Cash Flow (Line 13/4)

Adjustments:

5.

Palo Verde Accretion Income (Pretax) (1) 6.

In-Lieu Refund/Obligation Revenues (Pretax) (1) 7.

Depreciation and Amortization (2) 8.

Deferred Income Taxes 9.

Deferred ITC (Net) 10.

Allowance for Funds Used During Construction (Equity 8 Borrowed) 11.

Decommissioning 12.

Total Adjustments (67,421)

(21,374) 255,723 84,097 (6,804)

(7,595)

(6,512) 230,114 274,345 68,586 (74,881)

(21,375) 263,101 89,479 (6,925)

(6,339)

(6,516) 236,544 294,580 73,645 Percentage Ownership in All Nuclear Units:

Unit 1 29.1%

Unit 2 29.1%

(3)

Unit 3 29.1%

Maximum Total Contingent Liabilityfor PVNGS is $30 million ($ 10 million per Unit)

(1) Related to 12/91 ACC settlement agreement.

(2) Includes Nuclear Fuel Amortization.

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

NCF93 Surveys

El Paso Electric Projected Statementof'Cash Flow (Unaudited)

$(000) 12/21/93 1 2/31/94 Cash from Operations Debt service Investing activities Financing activities Cash Flow Available to Service Debt 117,601 77,817 (68,424) 5,943 132,937 116,308 90,179 (82,885) 8.322 131,924 Interest Payments First Mortgage Bonds (Class 1)

Second Mortgage Bonds (Class 2)

Pollution Control Bonds (Class 4 & 10)

'CF Banks's Debt (Class 3)

RGRT Reorganization Bonds General Unsecured Creditors Total Interest Payments Cash After Interest Service (3O,736)

(2O,922)

(5,175)

(9,851)

(2,126) 8,18 (76,997) 55,940 (31,823)

(21,767)

(5,906)

(8,420)

(5,102) 17,161 (90,179) 41,745 Principal Repayments First Mortgage Bonds (Class 1)

Second Mortgage Bonds (Class 2)

Pollution Control Bonds (Class 4 8 10)

RCF Bank's Debt (Class 3)

RGRT Reorganization Bonds General Unsecured Creditors Total Principal Repayments Cash After Principal Repayments Preferred Dividend Payments Cash After Preferred Dividends Beginning Cash Balance Ending Cash Balance 0

0 0

0 0

821)

(821) 55.119 55.119 166,835 221,95

'1.7~5

-<1,954 263,699

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I INTERNALCASH FLOW PROJECTION OF SALT R)

R PROJECT (JOINT OWNER OF PALO VERDE'NUCLEAR GENERATING STATION)

FOR FISCAL YEARS ENDED APRIL 30, 1992 and 1993

($000) 1992 ACTUAL 1993 PROJECTED Net Income. after taxes Less dividends paid:

Preferred dividend requirements Dividends on common stock Retained Earnings Adjustments:

Depreciation and amortization Deferred Income Taxes and Investment Tax Credits Allowance for Funds Used During Construction 40,228 40,228 170,489 (6 222) 90,311 90,311 169,746 (7,548)

Total Adjustments Internal Cash Flow 164,267 204,495 162,198 252,509 Average Quarterly Cash Flow 51,124 63,127 Percentage Ownership in all nuclear units Unit 1 Unit 2 Unit 3 17 49%

i s.4~%

17 49%

17.49%

17.49%

17.49%

I, Dean Yee, Corporate Treasurer of the Salt River Project Agricultural Improvement and Power District certify that the above 1992 figures are based upon our Accounting Records, and agree, as appropriate with our audited financial statements.

The 1993 projections are based upon May 1992 through March 1993 actual amounts, plus budgeted figures for the month of April. The 1993 projections do not reflect expected actual figures, as budget is not revised to reflect changing conditions.

Dean Yee C:>1 23DATA)DATA9293(PVNGSICF.WK3

1993 PRO FORMA CASH FLOW STATEMENT FOR PUBLIC SERVICE COMPANYOF NEW MEXICO (Excluding Non-UtilitySubsidiaries)

Net Income After Taxes Less Dividends Paid Retained Earnings Adjustments:

Depreciation &Amortization Deferred Income Taxes &

Investment Tax Credits Allowance for Equity Funds Used During Construction Other, Non Cash TOTALADJUSTMENTS INTERNALCASH FLOW Average Quarterly Cash Flow 1992 Actual (104,255) 7,750 (112,005) 100,510 (110,054)

(68) 239,590" 229,978 117 973 29,493 1993 Pro'ected 65,917 7,202 58,715 95,183 8,387 (3,270) 93,880 6,420 65 135 16,284 Percentage Entitlement in all Nuclear Units:

Palo Verde Unit1---10.2%

Palo Verde Unit2---10.2%

Palo Verde Unit3---10.2%

Tom Sategna Controller, Electric and Water