ML18036A884

Forwards Util Financial Statement for Fy Ending 910930,util Power Quarterly Rept & 1-yr Internal Cash Flow Projection for TVA Power Sys W/Explanation for Underlying Assumptions

ML18036A884
Person / Time
Site:	Browns Ferry, Sequoyah
Issue date:	10/01/1992
From:	Burzynski M TENNESSEE VALLEY AUTHORITY
To:	NRC OFFICE OF INFORMATION RESOURCES MANAGEMENT (IRM)
References
NUDOCS 9210130069
Download: ML18036A884 (12)

Text

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ACCESSION NBR:9210130069 DOC.DATE: 92/10/01 NOTARIZED: NO DOCKET FACIL:50-259 Browns Ferry Nuclear Power Station, Unit 1, Tennessee 05000259 50-260 Browns Ferry Nuclear Power Station, Unit 2, Tennessee 05000260 50-296 Browns Ferry Nuclear Power Station, Unit 3, Tennessee 05000296 50-327 Sequoyah Nuclear Plant, Unit 1, Tennessee Valley Auth 05000327 50-328 Sequoyah Nuclear Plant, Unit 2, Tennessee Valley Auth 05000328 AUTH.NAME AUTHOR AFFILIATION BURZYNSKI,M.J.

Tennessee Valley Authority R

RECIP.NAME RECIPIENT AFFILIATION Document Control Branch (Document Control Desk)

I

SUBJECT:

Forwards util financial statement for FY ending 910930,util "Power Quarterly Rept"

& 1-yr internal cash flow projection for TVA Power Sys w/explanation for underlying assumptions.

DISTRIBUTION CODE:

M004D COPIES RECEIVED:LTR ENCL SIZE:

TITLE: 50.71(b)

Annual Financial Report NOTES:1 1

Copy to:

LITTLE,B.

Copy to:

LITTLE,B.

gap Ppwm> cs-('p'Pg RECIPIENT ID CODE/NAME HEBDONgF WILLIAMSgJ.

COPIES RECIPIENT LTTR ENCL ID CODE/NAME 1

1 ROSS,T.

1 0

LABARGE,D.

COPIES LTTR ENCL 1

0 1

0 05000324 05000328 D

INTERNAL: AEOD/DOA EXTERNAL: NRC PDR NOTES:

1 1

~ EG FILE 1

1 1

1 01 1

1 NOTE TO ALL"RIDS" RECIPIENTS:

PLEASE HELP US TO REDUCE WASTE! CONTACT THE DOCUMENT CONTROL DESK.

ROOM PI-37 (EXT. 504-2065) TO ELIMINATEYOUR NAME FROM DISTRIBUTION LISTS FOR DOCUMENTS YOU DON'T NEED!

S TOTAL NUMBER OF COPIES REQUIRED:

LTTR 8

ENCL 5

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Tennessee Valley Authority. 1101 Market Street, Chattanooga, Tennessee 37402 October 1, 1992 U. S. Nuclear Regulatory Commission ATTENTION:

Document Control Desk Washington, DC 20555 Gentlemen:

In the Matter of Tennessee Valley Authority Docket Nos.

50-259 50-327 50-260 50-328 50-296 FINANCIAL INFORMATION REQUIRED TO ASSURE RETROSPECTIVE PREMIUMS To satisfy the requirements of 10 CFR Part 140 as stated in our December 9, 1977, letter to NRC, TVA has selected alternative five to meet the guarantee requirements of the retrospective premium system.

The enclosed statements are submitted to meet this guarantee requirement.

1.

TVA financial statements for fiscal year ending September 30, 1991 2.

TVA "Power Quarterly Report" 3.

A one-year internal cash flow projection for the TVA power system (tabulation A) with an explanation for underlying assumptions 4.

A narrative statement regarding the curtailment of capital expenditures if retrospective premiums should be paid October 1 is the annual submission date for financial information required to assure retrospective premiums.

If you have any questions, please telephone P. J.

Hammons at (615) 751-2736.

Sincerely, Mark

. Burzyns i Manag Nuclear Licensing and Regulatory Affairs cc:

See page 2

tt'92101'300b9 92i001 PDR

'ADOCK 05000259 P

PDR

U.S. Nuclear Regulatory Commission October 1, 1992 DVH:PJH:SJF Enclosures cc:

Mr. B. A. Wilson, Project Chief U. S. Nuclear Regulatory Commission Region II 101 Marietta Street, NW, Suite 2900 Atlanta, Georgia 30323 Mr. D. E. LaBarge, Project Manager U.S. Nuclear Regulatory Commission One White Flint, North 11555 Rockville Pike Rockville, Maryland 20852 NRC Resident Inspector Sequoyah Nuclear Plant 2600 Igou Ferry Road Soddy Daisy, Tennessee 37379 Mr. Thierry M. Ross, Project Manager U.S. Nuclear Regulatory Commission One White Flint, North 31555 Rockville Pike Rockville, Maryland 20852 NRC Resident Inspector Browns Ferry Nuclear Plant Route 12, P.O.

Box 637

Athens, Alabama 35611

Certification of Internal Cash Flow Projections Fo the Period October 1, 1992 to September 30, 1993 I, Kathy J. White, Vice President and Treasurer for the Tennessee Valley Authority, hereby certify that the cash flow projections for the TVA power system for the period October 1, 1992 to September 30, 1993, attached hereto represents the current projection of the cash flow of the TVA power program.

Kathy J.

Vice Presi te ent and Treasurer State of Tennessee County of Knox Subscribed and sworn to before me this 24th day of September 1992.

.Li da~T. Nations My commission expires September 6, 1996.

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Information Regarding the Adequancy of Cash Flows Required to Assure Payment of Retrospective Premiums Tabulation A attached provides a projection of cash flow for the TVA power system.

The period of this projection extends from October 1, 1992, to September 30, 1993.

The cash shown is the amount available from current revenues after paying all operating expenses and interest charges.

TVA's payments to the U.S. Treasury have been excluded since these payments may be delayed up to two years when, in the judgment of the TVA Board of Directors, such payments cannot feasibly be made because of inadequate funds occasioned by factors beyond the control of the corporation (TVA Act Sec.

15d Subsection (e)).

With three units at Browns Ferry and two units at Sequoyah Nuclear Plants currently having operating licenses, the maximum, quarterly cash flow requirements will be 550 million, under the present law.

The average quarterly cash estimated for the 12-month period is 5214 million.

TVA has the option of making rate changes quarterly throughout the period.

The actual timing and jv'mount of the rate change to ensure adequate cash flow would be determined'y the TVA Board.

Projected TVA power system loads are based on normal weather conditions.

Estimated generation is based on the assumption of normal scheduled and emergency maintenance outage requirements.

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Tabulation A Tennessee Valley Authority Estimated Sources of Funds (Millionof Dollars)

Total 12-Month M'~ill ~~' ill!="ll!

Net Income or loss (-)

4173

-420 4197 Non-Cash Charges (Credits) to Income 36 36 138 Depreciation S

Depletion 105 106 108 108 427 Other (Allowance for funds used in construction)

-12

-12 Total Funds From Operations

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~i Statement Regarding the Curtailment of Capital Expenditures If Retrospective Premiums Should Be Paid No curtailment in capital expenditures is expected in the event retrospective premiums have to be made available for payment during this period. It is assumed that sufficient short-term and long-term borrowing capacity will continue to be available to provide funds for continuing capital expenditures at the projected level.

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