ML18096A642
| ML18096A642 | |
| Person / Time | |
|---|---|
| Site: | Salem, Hope Creek  |
| Issue date: | 04/15/1992 |
| From: | Miltenberger S Public Service Enterprise Group |
| To: | NRC OFFICE OF INFORMATION RESOURCES MANAGEMENT (IRM) |
| Shared Package | |
| ML18096A644 | List: |
| References | |
| NLR-N92051, NUDOCS 9204270194 | |
| Download: ML18096A642 (5) | |
Text
Public Service Electric and Gas Company Steven E. Miltenberger Public Service Electric and Gas Company P.O. Box 236, Hancocks Bridge, NJ 08038 609-339-1100 Vice President and Chief Nuclear Officer' APR 1 5 1992 NLR-N92051 United States Nuclear Regulatory Commission Document Control Desk Washington, DC 20555 Gentlemen:
GUARANTEED RETROSPECTIVE PREMIUMS FOLLOWING A NUCLEAR ACCIDENT SALEM AND HOPE CREEK GENERATING STATIONS DOCKET NOS. 50-272, 50-311 AND 50-354 FACILITY OPERATING LICENSE NOS. DPR-70, -75 AND NPF-57 Pursuant to the 1975 Amendments to the Price-Anderson Act (Public Law 94-197), the owners of Salem Generating Station, Units Nos.
1 and 2, and Hope Creek Generating Station, Unit No. 1, submit the following statements and supporting documents to satisfy guarantee, requirements as provided under Alternative No. 5:
- 1.
1991 Stockholders' Annual Report of each owner.
(except Philadelphia Electric Company)
- 2.
Individual certified Internal Cash Flow Statements showing 1991 Actual and 1992 Projected with Explanation of Significant Variations.
Similar documents will be filed by Philadelphia Electric Company,
for the owners of the Peach Bottom Atomic Power Station, Unit Nos. 2 and 3.
sincerely, Enclosures
~
(
9204270194 920415 I
PDR ADOCK 05000272 I
Document Control Desk NLR-N92051 2
C Mr. T. T. Martin, Administrator - Region I
- u. S. Nuclear Regulatory Commission 475 Allendale Road King of Prussia, PA 19406 Mr. J. c. Stone, Licensing Project Manager -
Salem U. s. Nuclear Regulatory Commission One White Flint North 11555 Rockville Pike Rockville, MD 20852 Mr. s. Dembek, Licensing Project Manager U. S. Nuclear Regulatory Commission One White Flint North 11555 Rockville Pike Rockville, MD 20852 Mr. T. P. Johnson (S09)
USNRC Senior Resident Inspector Mr. K. Tosch, Chief NJ Department of Environmental Protection Division of Environmental Quality Bureau of Nuclear Engineering CN 415 Trenton, NJ 08625 Mr. R. Wood, Financial Analyst Off ice of State Programs PSE&G Co-Owners APR 1 5 Wt
Net Income Less Dividends Paid Retained in Business Adjustments:
Depreciation Amortization of Nuclear Fuel Deferred Income Taxes and Investment Tax Credits Statement of Financial Accounting Standards No. 90 - Regulated Enterprises - Accounting for Abandonments and Disallowance of Plant Costs (SFAS 90)
Allowance for Funds Used During Construction Total Adjustments Internal Cash Flow Average Quarterly Cash Flow PUBLIC SERVICE ELE~ AND GAS COMPANY (SALEM AND HOPE CREEK)
Projected Internal Cash Flow Statement For Year 1992 - Compared to 1991 Actual (Thousands of Dollars)
Actual-1991
$545 479 507 013
$ 38 466
$493 097 96 420 62 798 (6 787)
(29 974)
$615 554
$654 020
~16~ SQ~
Projected
$499 440 507 998
$ (8 558)
$539 596 105 994 47 699 (5 882)
(33 448)
$653 959
$645 401
~161 3~Q Explanation of Significant Variations Reduced overall outage time.
Primarily Deferred Taxes on Cost of Removal, Pennsylvania PURTA Tax Refund and Gas Take-or-Pay Costs.
Accretion to Income of the discount related to Hope Creek and various abandonments Increased construction expenditures As indicated by this statement, the Average Quarterly Cash.Flow covers the maximum contingent liability of Public Service Electric and Gas Company, as defined by the Nuclear Regulatory Commission.
The presentation of this statement is consistent with that of prior years' filings.
PUBLI~stELECJBjrC AND GAS COMPANY BY £:!~L~f:Ltl2£Zf-VICE PRESIDENT AND COMPTROLLER
Net Income Less Dividends Retained in Business Major Adjustments:
Depreciation and Amortization Levelized Energy Clause - Net Deferred Income Taxes and Investment Tax Credits Unrecovered Purchased Power Costs Allowance for Funds Used During Construction Other Total Adjustments Average Quarterly Cash Flow Nuclear Generating Station Percentage OWnership Salem Unit #1 Salem Unit #2 Hope Creek #1 Maximum Contingent Liability (Severally and Not Jointly)
Actual 1991
$107,428 90,484 16,944 66,023 13,180 1,420 (12,938)
(4,873)
~
68,461
$ 85,405 ATLANTIC c*
CTRIC COMPANY PROJECTED INTE SH FLOW STATEMENT FOR YEAR 1992~'-
ARED TO 1991 ACTUAL
~*
(Thousands of Dollars)
Projected 1992
$109,478 94,931 14,547 70,323 15,471 5,094 13,409 (6,141)
~
107, 651
$122,198 7.41%
7.41%
5.00%
$1,982 Explanation of Significant Variations Projected reflects effects of prior year stock issuances, most notably common stock.
Projected primarily reflects the effects of liberalized depreciation.
Projected reflects the amortization of costs previously deferred.
Projected reflects additional Gross Receipts and Franchise Tax liability.
As indicated by this statement, the Average Quarterly Cash Flow fully covers the maximum contingent liability of Atlantic City Electric Company which amounts to $1,982,000 as shown above.
Atlantic City Electric Company By:
Date Frank F. Frankowski, Controller
Net Income Less Dividends Paid Retained in Business Adjustments:
Cumulative Effect of Accounting Change for Unbilled Revenues Depreciation Amortization and Other Deferred Income Taxes and Investment Tax Credits Allowance for Funds Used During Construction Total Adjustments Internal Cash Flow
. Average Quarterly Cash Flow Delmarva Power & Light Company Projected Internal Cash Flow Statement*
For Year 1992 Compared to 1991 Actual.
($000) 1991 1992 Actual Projected Explanation of Significant Variances
$93,236
$97,640 Increase is due to expected rate increases partly offset by higher operation, maintenance, and depreciation expenses, and the absence of the 1991 cumulative effect of unbilled revenues.
85,044 91,891 Higher dividends due to the Company's plans to issue shares of common sto.ck in order to raise capital.
8,192 5,749 (12,730) 0 During 1991, the Company changed its method of accounting for unbilled revenues, effective as of January 1, 1991.
88,720 96,565 Additional utility plant is expected to be closed to plant-in-service during 1992.
(462) 1,560 10,026 6,342 The expected decrease is mainly related to the leveraged leases of the Company's nonutility subsidiaries.
(7,778)
'(11,141)
The expected increase is due to anticipated higher construction work-in-progress balances.
77,776 93,326
$85,968
$99,075 21,492 24,769*
The Company has sufficient cash flow to ensure that its respective premiums would be available for payment.
- 1)
\\
- Date February 24, 1992 P. Lavin troller-Corporate and Chief Accounting Officer