ML18037A483

Forwards Annual Rept 1992, for BFN Units 1,2 & 3 & Sequoyah Nuclear Plant Units 1 & 2

ML18037A483
Person / Time
Site:	Browns Ferry, Sequoyah
Issue date:	09/30/1993
From:	Schofield B TENNESSEE VALLEY AUTHORITY
To:	NRC OFFICE OF INFORMATION RESOURCES MANAGEMENT (IRM)
Shared Package
ML18037A484	List: ML18037A483 ML18037A485
References
NUDOCS 9310050063
Download: ML18037A483 (10)

Text

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A'CCELERAT DOCUMENT DISTR DISTRIBUTI UTION SYSTEM REGULA. Y INFORMATION YSTEM (RIDS)

Ql ACCESSION NBR:9310050063 DOC.DATE: 93/09/30 NOTARIZED: YES DOCKET g FACIL:50-259 Browns Ferry Nuclear Power Station, Unit 1, Tennessee 05000259 j 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 SCHOFIELD,B.S. Tennessee Valley Authority I RECIP.NAME RECIPIENT AFFILIATION Document Control Branch (Document Control Desk)

I Q

SUBJECT:

Forwards "Annual Rept 1992," for BFN Units 1,2 & 3 &

Sequoyah Nuclear Plant Units 1 6 2.

DISTRIBUTION CODE: M004D COPIES RECEIVED:LTR TITLE: 50.71(b) Annual Financial Report 2 ENCL D SIZE:

NOTES:

RECIPIENT COPIES RECIPIENT COPIES ID CODE/NAME LTTR ENCL ID CODE/NAME LTTR ENCL PD2-4 PD2-4 WILLIAMSPJ.

1, 1

1 1

1 1

PD2-4-PD ROSS,T.

LAB 1

1 1

1 1

1 INTERNAL:,AEOD/DOA 1 1 EG FILE 01 1 1 EXTERNAL: NRC PDR 1 1 NOTE TO ALL"RIDS" RECIPIENTS:

PLEASE HELP US TO REDUCE WASTEi CONTACT THE DOCUMENT CONTROL DISK, ROOM Pl-37 (EXT. 504-2065) TO ELIMINATEYOUR NAME FROM DISTRI13UTION LISTS FOR DOCUMENTS YOU DON'T NEED!

TOTAL NUMBER OF COPIES REQUIRED: LTTR 9 ENCL 9

0 Tennessee Valley Authority, 1101 Market Street. Chattanooga, Tennessee 37402-2801 September 30, 1993 U.S. Nuclear Regulatory Commission ATTN: Document Control Desk Washington, DC 20555 Gentlemen:

In the Matter of ) Docket Nos. 50-259 50-327 Tennessee Valley Authority ) 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, 1992.

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.

9310050063 930930 ADOCK 05000259 of PDR I PDR ill

f U. S. Nuclear Regulatory Commission Page 2 September 30, 1993 October 1 is the annual submission date for financial information required to assure retrosepctive premiums.

If you have any questions, please telephone P. J. Hammons at (615) 751-2736.

Sincerely, Bruce S. Sc o eld Manager Nuclear Licensing and Regulatory Affairs Enclosures cc: Mr. D. E. LaBarge, Pro)ect Manager (Enclosures)

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, Pro)ect Manager (Enclosures)

U.S. Nuclear Regulatory Commission One White Flint, North 11555 Rockville Pike Rockville, Maryland 20852 NRC Resident Inspector Browns Ferry Nuclear Plant Route 12, P.O. Box 637 Athens, Alabama 35611 U.S. Nuclear Regulatory Commission Region II 101 Marietta Street, NW, Suike 2900 Atlanta, Georgia 30323

I Certification of Internal Cash Flow Projections For the Period October 1, 1993 to September 30, 1994 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, 1993 to September 30, 1994, attached hereto represents the current projection of the cash flow of the TVA power program.

Kathy J. Wh te Vice President and Treasurer State of Tennessee County of Knox Subscribed and sworn to before me this 20th day of September 1993.

Wendy C Stooksbury Ny commission expires November 3, 1996.

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J r Tabulation A Tennessee Valley Authority Estimated Sources of Funds (Million of Dollars)

Total Net Income or la ~ ~~ Zll'='cl 12-Month loss (-) $ 18 5205 428 $ 249 5500 Non-Cash Charges (Credits) to Income 26 27 27 27 107 Depreciation R Depletion 126 125 125 125 501 Other (Allowance for funds used in construction)

Total Funds From Operations ~22 Mmz Aux 0636b

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, 1993, to September 30, 1994. 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 5228 million. TVA has the option of making rate changes quarterly throughout the period. The actual timing and amount of the rate change to ensure adequate cash flow would be determined by the TVA Board.

i 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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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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