ML18096B403

Hutchinson Island Units 1 and 2 - Exhibit II Facts & Figures Florida Power & Light Company Supplement to Annual Report for 1970, Exhibit III, and Exhibit IV

ML18096B403
Person / Time
Site:	Saint Lucie
Issue date:	12/31/1970
From:	Florida Power & Light Co
To:	US Atomic Energy Commission (AEC)
References
Download: ML18096B403 (26)

Text

EXHIBIT II.

Index 350 0

300 FLORIDA POMfEB & LIGHT COMPANY SUPPLEMENT TO ANNUAL REPORT FOR 1970 250 200 150 TOTAL ELECTRIC SALES Kilowatt Hours 10-Year Growth Trend/Index: 1960 =100 100 CII O I

This booklet has been prepared primarily for the information of security analysts and institutional investors and is available to other interested persons. It is not intended for use in connection with any sale, or offer for sale, or solicitation of an offer to buy any securities.

iiAnA FLORIDA POWER 4 LIGHT COMPANY P.o. BOX 3 I00, MIAMI, FLORIDA 33101

F I. 0 R I D A P 0 W E R at L- I G H T C 0 M P A N Y The Company was organized and incorporated under the laws of Florida in December, 1925 and supplies electric service to 560 communities.

The territory served lies wholly within peninsular Florida. It includes the Cape Kennedy area, famous Atlantic and Gulf Coast winter and summer tourist areas, thc State's largest and most rapidly developing manufacturing ccntcr, and areas having extensive develop-ments of citrus, bccf and dairy cattle and winter vegctablcs.

This booklet provides comparative figures for the 6-year period, 1965-70 reflecting the continued sound and rapid growth of the Company's business.

All financial statements shown should be considered in conjunction with notes in the Company's annual reports.

INDEX Page Balance Sheet.

Summary of Net Change in Plant.

Statement of Income Common Stock Earnings and Dividends.

Resources Provided and Applied Financial Statistics.

Operating Statistics.

Generating and Distribution Statistics.

Capitalization Data Generating Capability Chart Inside Back Cover

FLORIDA POWER IL LIGHT COMPANY BALANCE SHEET (YEAR END)

(Thousands of Dollars)

ASSETS 1970 1969 1968 1967 1966 1965 Plant at original cost In service $ 1,402,214 $ 1,268,966 $ 1,143,489 $ 1,040,429 938,031 $ 860,206 Held for futur'e use. 18,852 12,701 9,629 5,533 4,274 3,389 Construction work in progress... 242,221 148,256 135,523 77,224 58,748 37,938 Total plant. 1,663>287 1,429,923 1,288,641 1,123,186 1,001,053 901,533 Less accumulated dcprcciation..... 297,225 266,393 234,704 209,518 187,927 166,878 Total plant net. I >366,062 1,163,530 1,053,937 913,668 813,126 734,655 Storm damage reserve fund........ 11,712 11,268 10,899 10,591 10,305 9,518 Other investments. 434 475 549 ~

633 1,356 2,114 Current assets Cash and cash items. 10,685 26,767 14,339 7,946 32,598 17,252 Receivables, less reserve. 26,239 24,267 21,472 16,501 15,929 15,389 Fuel stock.................... 3,390 3,352 2,873 3,113 2,557 2,583.

Materials and supplies net..... 34,334 29,914 25,375 25,573 19,752 23,383 Other current assets. 4,960 3,875 2,664 2,555 2 223 1,931 Total current assets. 79,608 88,175 66,723 55,688 73,059 60,538 Dcferrcd debits. 235 625 316 369 685 844 Total assets. $ 1,458,051 $ 1,264,073 $ 1,132,424 S 980,949 898,531 $ 807,669 LIABILITIES Long-term debt. S 670,519 S 600,926 S 551,459 S 442,260 382,802 $ 343,389 Preferred stock. 36,250 36,250 36,250 36,250 36,250 36,250 Common stock. 299,242 299,242 255,283 255,283 255,283 234,202 Capital stock premium and expcnsc... (2,105) (2,039) (2,039) (2,039) (2,033) (2,008)

Retained earnings. 200,774 172,800 147,537 125,128 103,024 78,372 Total common equity. 497,911 470,003 400,781 378,372 356,274 310,566 Total proprietary capital......... 534,161 506,253 437,031 414,622 392,524 346,816 Total capitalization 1,204,680 1,107,179 988,490 8>6,8>2 77>,326 690,205 Customers'eposits. 35,037 32 233 29,750 27 733 26,034 24,381 Current liabilities Notes payable 71,600 Taxes accrued . 26,456 24,125 21,101 19,785 29,868 30,841 Other current liabilities. 50,227 34,704 33,608 27,457 20,869 17,803 Total current liabilities.......... 148,283 58,829 54,709 47,242 50,737 48,644 Dcfcrred investmcnt credit. 17,160 16,864 14,480 11,694 9,303 7,279 Other dcfcrrcd credits 5,332 4,602 5,819 3,852 3,570 3,122 Contract retentions. 8,742 8,505 5,071 I Storm damage and other reserves..... 13>522 13,452 13,199 12,935 12,753 12,626 Contributions in aid of construction... 12,941 10,113 7,687 6,468 5,742 5,423 Deferred income taxes. l2,354 12,296 13,219 14,143 15,066 15,989 Total liabilities. $ 1,458,051 $ 1,264,073 $ 1,132,424 S 980,949 898,531 $ 807,669

SUMMARY

OF NET CHANGE IN PLANT Construction cxpcnditurcs. S 250,345 S 149,245 S 176,258 S 133,117 109,614 S 88,351 Equipment refunds and adjustments... (48) (43) (295) (6,344)

Total cxpcnditurcs. 250,345 149,197 176,215 133,117 109,319 82,007 Less plant rctircd or sold 16,981 7,915 10,760 10,984 9,799 22,449 Net change in plant. S 233,364 $ 141,282 S 165,455 S 122,133 99,520 S 59,558 Pago 2

FLORIDA POWER &, LIGHT COMPANY STATEMENT OF INCOME (Thousands of Dollars) 1970 1969 1968 1967 1966 1965 OPERATING REVENUES ELECTRIC Revenues from energy sales. $ 414,295 $ 367,794 $ 323,159 $ 284,044 $ 267,577 $ 247,973 Other revcnucs. 1,757 1,716 1.450 1,282 1,095 1,118 Total operating rcvcnucs............. .. 5416,052 369.510 324,618 285,326 268,672 249,091 OPERATING EXPENSES Generation Fuel oil. 44,508 35,111 37,405 39,662 36,623 32,581 Fuel gas. 42,249 37,797 26,380 14,618 13,724 12,219 Other expenses. 14,535 10,923 9,928 10,136 8,057 7,390 Total generation. 101,292 83,831 73,713 64,416 ~ 58,404 52,190 Interchange power net. (I,G94) (1,051) (49) 18 182 (139)

Transmission. 6,051 5,208 4,034 3,476 3,342 2,787 Distribution. 41,641 33,236 26,411 22;782 21,254 20,024 Customer accounting. 10,547 9,133 7,456 7,319 7,153 6,701 Sales promotion. 7,664 7,613 5,775 5,222 4,772 4,687 Administrative and general............ 32,938 25,744 21,660 19,756 18,348 17,178 Total operation and maintenance.. 198,439 163,714 139,000 122,989 113,455 103,428 Taxes other than income 35,26G 31,365 28,269 27,097 22,505 19,823 Federal income tax 42,203 49,386 46,639 35,713 39,348 37,892 Deferred income taxes Acccl. amortization. (1,272) (923) (923) (923) (923) (923)

Dcfcrrcd income taxes Accel. dcprcciation. 1,331 Charge equivalent to investment credit..... 1,056 3,024 3,294 2,787 2 327 3,243 Amortization of invcstmcnt credit......... (761) (640) (508) (396) (303) (177)

Depreciation and amortization............. 42,327 38,247 34,562 31,331 28,598 30,935 Total operating expenses.............. 318,589 284,173 250,333 218,598 205,007 194,221 OPERATING INCOME .... 97,4G3 85,337 74,276 66,728 63,665 54,870 Other income and deductions.................. 139 613 (90) (68) (93) (244)

INCOME BEFORE INTEREST CHARGES ..... 97,602 85,950 74,186 66,660 63,572 54,626 Interest charges. 38,375 32,523 25,276 19,728 16,275 14,039 NET INCOME. 59,227 53,427 48,910 46,932 47,297 40,587 Prel'erred dividends. 1,615 1,615 1,615 1,615 1,615 1,615 EARNINGS AVAILABLEFOR COMMON... 57,612 51,812 47,295 45,317 45,682 38,972 Common dividends 29,638 26,549 24,881 23,213 21,080 19,448 RETAINED EARNINGS . $ 27,974 $ 25,263 $ 22,414 $ 22,104 $ 24,602 $ 19,524 COMMON STOCK Shares year cnd (000) 14,600 14,600 13,900 13,900 13,900 13,600 Shares weighted average (000)............. 14,600 13,938 13,900 13,900 13,625 13,600 Earnings per share wcightcd average (000) .. $ 3.95 $ 3.72 $ 3.40 $ 3.26 $ 3.35 $ 2.87 Dividends paid per sharc $ 2.03 $ 1.91 $ 1.79 $ 1.67 $ 1.55 $ 1.43 Per cent payout. 51.4 51.2 52.6 51.2 46.1 49.9 Pago,3

FLORIDA POWER a LIGHT COMPANY STATEMENT OF RESOURCES PROVIDED AND APPLIED (Thousands of Dollars)

Total 1970 1969 1968 1967 1966 1966- 70 PROVIDED Retained earnings. .. $ 27,974 S 25,263 $ 22,414 S 22,104 S 24,602 $ 122,357 Charges against income not requiring current cash outlay:

Depreciation and other rcscrvcs.. 44,008 39,520 35,798 32,390 29,513 181,229 Defcrrcd fcdcral income taxes Accel. amortization,... (1,272) (923) (923) (923) (923) (4,964)

Dcfcrrcd fcdcral income taxes-Accel. dcprcciation 1,331 1,331 Dcfcrrcd invcstmcnt credit-nct..... 295 2,384 2,78G 2,391 2,024 ',880 Customers'eposits. 2,804 2,483 2,017 1,699 1,653 10,656 Contributions in aid of construction... 2,828 2,426 1,219 726 319 7,518 Net salvage 3>42 I 34 (51) 1>121 4,636 Manufacturers'rice adjustmcnt. 43 295 338 Other rcsourccs. I >714 2,020 G,256 1,431 1,547 12,968 Financing Common stock. 43,960 21,081 65,041 Mortgage bonds. 70,071 50,265 111,376 60,140 40,184 332,036 Decrease in working capital. 98,022 13,876 111,898 Total resources provided. .. $ 251,196 $ 167,432 S180,935 $ 133,945 $ 121,41G S 854,924

'Due largely to $ 7I.G million incrcasc in short-term notes payable which were liquidated upon consummation of Bond Sale in January, 1971.

APPLIED Construction cxpcnditurcs. $ 250,345 $ 149,245 $ 176,258 $ 133,117 $ 109,614 $ 818,579 Sinking fund requirements. 407 533 801 542 587 2,870 Storm fund income and tax adjustments.. 444 369 308 286 787 2,194 Increase in working capital. 17,285 3,568 10,428 31,281 Total rcsourccs applied... $ 251,196 $ 167,432 $ 180,935 $ 133,945 $ 121,416 $ 854,924 Page 4

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FLORIDA POWER & LIGHT COMPANY FINANCIALSTATISTICS 1970 1969 1968 1967 196G 1965 CAPITALIZATION PERCENTAGES Debt. 54.3 55.8 SI.G 49.4 49.8 Preferred stock 3.0 3.3 3.7 4.2 4.7 5.2 Common stock equity. 41.3 424 40.5 44.2 45.9 45.0 PERCENTAGE OF DEBT TO:

Total plant. , . 40.3 42.0 42.8 39.4 38.2 38.1 Net plant. .. 49.1 51.6 52.3 48.4 47.1 4G.7 PERCENTAGE OF ACCRUED DEPRECIATION TO:

Total plant. 17.9 18.G 18.2 18.7 18.8 18.5 DISTRIBUTION OF OPERATING REVENUES (%)

Taxes . , . 18.9 22.4 23.8 22.7 23.5 24.1 Fuel. 20.8 19.8 19.7 19.0 18.7 18.0 Operating payroll and benefits. 17.2 16.2 IS.3 15.8 15.5 15.0 Depreciation and amortization. 10.0 10.2 10.5 10.8 10.5 12.4 Supplies and other expenses. 9.6 8.4 7.8 8.3 8.0 8.5 Interest and other deductions. 9.3 8.6 7.8 6.9 6.1 5.7 Dividends................................. ~ ~ . ~ ~ ~ ~ 7.5 7.6 8.2 8.7 8.5 8.5 Retained in business 6.7 6.8 6.9 7.8 9.2 7.8 DISTRIBUTION OF INCOME BEFORE INTEREST (%)

Interest charges. 39.3 37.8 34.1 29.6 25.6 25.7 Preferred dividends. 1.7 1.9 2.2 2.4 2.5 3.0 Available for common. 59.0 60.3 63.7 68.0 71.9 71.3 INCOME BEFORE INTEREST (times earned)

Interest on mortgage bonds. 2.8 2.8 3.2 4.0 4.5 4.6 Interest on total long-term debt. 2.8 2.8 3.2 3.9 4.4 4.5 Interest charges. 2.5 2.6 2.9 3.4 3.9 3.9 Interest charges and preferred dividends. 2.4 2.5 2.8 3.1 3.6 3.5 PERCENTAGE OF OPERATING REVENUES Income before interest. .. 23.5 23.3 22.9 23.4 23.7 21.9 Net income 14,2 14.5 15.1 16.4 17.G 16.3 Available for common. .. 13.8 14.0 14.6 15.9 17.0 15.6 AVERAGE COST LONG TERM DEBT (%) 5.51 5.28 4.88 4.39 4.19 4.09 Page 5

FLORIDA POWER 8E LIGHT COMPANY OPERATING STATISTICS 1969 1968 1967 1965 KWH GENERATED 1970 196G INTERCHANGED (000)

Generated net.

Interchanged net Company usc and losses

~ ~ ~ ~ ~ 25,394,200 (281,477) 1,997,342 22,363,866 (145,802) 1,772,892 19,354,531

'(7,183) 1,596,031 16,640,181 235 1,350,996 IS,026,735 29,333 1,320,186 13,387,104 (14,941) 1,283,974 Energy sold. 23,115,381 20,445,172 17,751,317 15,289,420 13,735,882 12,088,189 KWH SALES (000)

Residential.. 11,814,172 10,277,902 8,640,243 7,211,301 6,495,328 5,539,803 Commercial. 6,475,639 5,689,152 5,252,163 4,677,840 4,176,799 3,793,056 Industrial. 2,044,013 1,813,880 2,216,921 2,025,476 1,867,558 1,719,306 Government and municipal .. ~ ~ 1,995,258 2,015,657 1,135,277 994,289 874,717 783,591 Other utilities. 786,299 648,581 506,713 380.514 321,480 252,433 Total sales. 23,115,381 20,445,172 17,751,317 15,289,420 13,735,882 12,088,189 KWH SALES (%)

Residential. 51.1 50.3 48.7 47.2 47.3 45.8 Commercial 28.0 27.8 29.6 30.6 30.4 31.4 Industrial. 8.9 8.9 12.5 13.2 13.G 14.2 Governmental and municipal... 8.6 9.8 6.4 6.5 6.4 6.5 Other utilitics. 3.4 3.2 2.8 2.5 23 2.1 Total.. 100.0 100.0 100.0 100.0 100.0 100.0 REVENUE FROM ENERGY SALES (000)

Residential. $ 223,330 $ 196,009 $ 168,330 S144,501 $ 132,983 $ 116,433 Commercial 129,028 114,566 104,592 94,458 90,129 90,334 Industrial. 26,555 23,786 26,583 24,522 25,326 23,675 Govcrnmcntal and municipal................ 28,581 27,912 19,326 17,300

• 16,353 15,290 Other utilitie's. 6,801 5,521 4,328 3,263 2,786 2,241 Total revcnucs from cncrgy sales......... S414,295 $ 367,794 $ 323,159 $ 284,044 $ 267,577 S247,973 REVENUE FROM ENERGY SALES (%)

Residential. 53.9 53.3 52.1 50.9 49.7 47.0 Commercial..... 31.1 31.1 32.4 33.3 33.7 36.4 Industrial. 6.4 6.5 8.2 8.6 9.5 9.5 Government and municipal................ 6.9 7.6 6.0 6.1 6.1 6.2 Other utilitics. 1.7 1.5 1.3 I.I 1.0 .9 Total.. 100.0 100.0 100.0 100.0 100.0 100.0 CUSTOMERS (Average)

Rcsidcnt ial. 1,115,070 1,045,744 985,706 934,843 887,896 841,604 Commercial. 121,353 115,712 108,343 101,782 98,327 94,929 Industrial. 5,055 4,924 4,G70 4,454 4,3GI 4,321 Government and municipal." .. 11,616 10,938 10,473 10,230 9,412 8,715 Other utilities. 30 29 28 25 24 22 Total. 1,253,124 1,177,347 1,109,220 1,051,334 1,000,020 949,591 RESIDENTIAL SERVICE Annual KWH per customer........... 10,595 9,828 8,766 7,714 7,315 6,582 Annual revenue per customer.......... S200.28 $ 187.43 $ 170.77 $ 154.57 $ 149.77 $ 138.35 Average rcvenuc pcr KWH 1.89c 1.9lc 1.95c 2.00c 2.05c 2.10c Page 6

ITLOIttOA POWER 8, LIGHT COMPANY GENERATING STATISTICS 1970 1969 1968 1967 1966 1965 GROSS CAPABILITY KW (year end)

Fort Lauderdale 770,000 330,000 330,000 330,000 330,000 330,000 Riviera. 737,000 737,000 737,000 737,000 737,000 737,000 Miami. 5 I FOOO 51,000 51,000 51,000 51,000 51,000 Cutler. 371,000 371,000 371,000 371,000 371,000 371,000 Sanford. 165,000 165,000 165,000 165,000 165,000 165,000 Palatka. 128,000 128,000 128,000 128,000 128,000 128,000 Ft. Mycrs. 597,000 597,000 165,000 165,000 165,000 165,000 Port Evcrgladcs. . 1,350,500 1,350,500 1,337,000 1,337,000 1,337,000 1,337,000 Cape Kennedy. 864,000 864,000 432,000 432,000 432,000 432,000 Turkey Point. 877,500 8~77 500 864,000 432,000 Total. 5,911,000 5,471,000 4,580,000 4,148,000 3,716,000 3,716,000 PEAK DEMAND KW (60 minute net).... 5 001 000 4,329,000 3,789,000 3,160,000 2,914,000 2,529,000 LOAD FACTOR LAD mieule) 57 59 58 60 59 FUEL Barrels oil used (000) . 22,762 18,687 18,731 19,522 17,687 15,744 Cost per barrel. $ 1.96 $ 1.88 $ 2.00 $ 2.03 $ 2.07 $ 2.07 MCF gas used (000). 115,870 108,634 77,370 43,909 40,475 35,438 Cost per MCF. $ 0.365 $ 0.348 $ 0.341 $ 0.333 $ 0.339 $ 0.345 Total barrels equivalent used (000)... 40,318 35,147 30,454 26,174 23,820 21,113 Avcragc cost pcr barrel equivalent... $ 2.15 $ 2.07 $ 2.09 $ 2.07 $ 2.11 $ 2.12 Fuel cost per million BTU. 33.6c 32.2c 32.7c 32.5c 33.2c 33.3c KWH PER BARREL EQUIVALENT .. 630 636 636 636 631 634 HEAT RATE (BTU per KWH).. 10,128 10,112 10,081 10 025 10,096 10,041 MILES OF ELECTRIC LINES Transmission .. 3,255 3 223 3,204 3,115 2,912 2,700 Distribution. 25,155 24,050 22,915 21,998 21,248 20,553 Total. 28,410 27273 26,119 25,113 24,160 23,253 CUSTOMERS PER MILE DISTRIBUTION (end of year). 52 51 50 49 48 48 Page 7

FLORIDA POWER a LIGHT COMPANY CAPITALIZATIONDATA (YEAR END)

(Thousands of Dollars)

LONG-TERM DEBT 1970 1969 Mortgage bonds 3YR% series due January 1974.... $ 36,894 $ 37,301 8Ys% series due July 1975 70,000 3% series due July 1977. 10,000 10,000 3Ys% series due June 1978. 11,000 11,000 3% series due June 1979. 10,000 10,000 3Ys% series due November 1981 .. 10,000 10,000 3Ys% series due April 1983. 15,000 15,000 3Ys% series due November 1984 .. 10,000 10,000 3Ys% series duc April 1986. 15,000 15,000 4 Vs% series due December 1986... 15,000 15,000 4Ys% scrics duc May 1987 15,000 15,000 4Ys% series duc April 1988. 20,000 20,000 5% series due June 1989 25,000 25,000 4Ys% series due August 1992 25,000 25,000 4N% series due April 1994. 35,000 35,000 4Ys% series due March 1995...... 40,000 40,000 5% series duc December 1995..... 40,000 40,000 6% series due December 1996..... 40,000 40,000 6V4% scrics due December 1997... 60,000 60,000 I% series due June 1998 60,000 60,000 7% series due December 1998..... 50,000 50,000 8% series duc Junc 1999.. 50,000 50,000 Total mortgage bonds 662,894 593,301 Sinking fund debcnturcs 3Y4%series due July 1972 7,625 7,625 Total long-term debt. 670,519 600;926 PREFERRED STOCK 48%;including series A, 8, C) .. 26,250 26,250 4.32% series D. 5,000 5,000 4 35% series E 5,000 5,000 Total preferred stock 36,250 36,250 COMMON STOCK EQUITY Common stock 299,242 299,242 Capital stock premium and expense-Prcmium on prcfcrred stock . 118 118 Preferred stock expense (deduction).......... (442) (442)

Common stock cxpensc (deduction).......... (1,781) (1,715)

Total capital stock premium and expense... (2,105) (2,039)

Retained earnings 200,774 172,800 Total common stock equity............... 497,911 470,003 Total proprietary capital 534,161 506,253 TOTAL CAPITALIZATION $ 1,204,680 $ 1,107,179 page S

YEAR-END CAPABILITY FLORIDA POWER 8 LIGHT COMPANY (MEGAWATTS) 11,307 GENERATING (Location Undetermined) 850 MW CAPABILITY 10,457 1961 - 1975 Hutchinson Island No. 1 890 NW (Nuclear)

Port Manatee No. 1 850 MW Sanford No. 5 8,717 419 MW 8,298 Sanford No. 4 419 MW Turkey Point No. 4 760 MW (Nuclear) 7,119 Turkey Point No. 3 760 MW (Nuclear)

Gas Turbines 444 MW

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At FPL, we add more electric customers each year than any other utility in the nation. To stay ahead of our state's tremendous growth, we'e currently engaged in a $ 1.9 billion expansion program.

We must nearly double our present generating capacity by 1975.

During this growth process, we'e taking care to protect Florida's natural environment. That's because we consider our job to be twofold: to serve the community while protecting the environment and its natural beauty.

%pal

EXHIBIT IV.

Page 8 Combustions'hattanooga Plant includes a separate facility which is equipped and staffed to design and fabricate, and to provide quality control for large reactor pressure components. The facility has such special equipment as heavy duty cranes and large capacity machine tools capable of performing work on large, heavy parts to close tolerances and fine surface finishes. It is also equipped with the latest testing and quality control equipment, including a linear accelerator for weld examination.

Combustion's Utility Division nuclear activities are centered in three locations: The Nuclear Power Department at Windsor, Connecticut; the Naval Reactors Division at Windsor, Connecticut; and the Nuclear Components Department at Chattanooga, Tennessee.

EXHIBIT I I I.

FLORIDA POWER 6 LIGHT COMPANY HUTCHINSON ISLAND UNIT NO. 2 Estimate of Construction Costs I. Total Nuclear Production Plant Costs . . . . . . . , . . . . . $ 220,400,000 (Note 1)

II. Transmission, Distribution, and General Plant Costs . . . . . . 4,600,000 (Note 2)

III. Nuclear Fuel Inventory Cost for First Core . . . . , . . . . . 23)931,000 (Note 3)

(Note 1) The nuclear production plant cost is based on (1) a contract with Combustion Engineering and estimated escalation, (2) a contract with Ebasco providing a firm price for engineer-ing and home office services, (3) engineering estimates of labor, materials, and construction costs including escalation, (4) Applicant's estimated costs for engineering, consulting services, training, startup, and sales tax, and (5) a firm price contract with Westinghouse Electric Corporation for a turbine-generator. In accordance with Applicant's established policy, the cost of land is excluded.

(Note 2) Of those costs which are classified as "Transmission",

"Distribution", and "General Plant" costs by the Uniform System of Accounts of the National Association of Railroad and Public Utility Commissioners, only those associated with the plant switchyard are allocated to the power plant project and are herewith set forth.

(Note 3) Nuclear fuel inventory costs for first core are based on a contract with Combustion Engineering for the supply of a complete core including uranium, enrichment and fabrication, at a firm price except for enrichment escalation. No special nuclear material leased from the Atomic Energy Commission will be utilized in the plant.

C EXHIBIT IV.

FLORIDA POWER & LIGHT COMPANY HUTCHINSON ISLAND UNIT NO. 2 Technical ualifications of Contractors EBASCO SERVICES INCORPORATED Ebasco Services Incorporated furnishes services in engineering and construction of thermal, both conventional and nuclear, and hydroelectric projects in the United States and throughout the world.

The company's present technical staff totals more than 2,000 persons engaged in all phases of public utility engineering, design, construction purchasing, inspection and expediting of material and consultation on utility operating matters. The company has available and is able to bring to bear on any given project a broad range of engineering, construction and consult-ing experience.

Since its organization in 1905 Ebasco has planned, designed, constructed and placed into operation more that 41,500,000 kilowatts of electric generating capacity. Presently in process of design or construction are 58 thermal electric and hydroelectric units totaling 22,500,000 kilowatts including 5,000,000 kilowatts of nuclear capacity. Of these, 35 units are in the United States. The total dollar value of projects constructed or being constructed by Ebasco exceeds $8 billion.

Ebasco's nuclear experience includes engineering studies, the evaluation of reactor systems, selection of the nuclear sites, hazards evaluations, detailed engineering design, construction and startup and testing of nuclear power facilities as described below:

a. Louisiana Power & Light Co. - Waterford Steam Electric Station Units Nos. 3 & 4 Ebasco is providing engineering and construction management services for a two-unit plant of 1100 Mwe each using Combustion Engineering, Inc. nuclear steam supply system.

b. Taiwan Power Company - Chin-Shan Units Nos. 1 & 2 Ebasco is responsible for the engineering design and construction supervision for Chin-Shan Units Nos. 1

c EXHIBIT IV.

Page 2

& 2. General Electric A.P.E.D. is supplying the BWR nuclear steam supply system. Unit output is rated at 636 Mwe. Unit No. 1 is scheduled for commercial operation in February 1975 and Unit No. 2 is scheduled for operation in March 1976.

c~ Public Service Company of Colorado - Ft. St, Vrain Plant Ebasco is engaged by Gulf General Atomic Incorporated to construct a 330 Mwe nuclear power plant utilizing a high temperature gas-cooled reactor (HTGR). The plant will be owned and operated by the Public Service Company of Colorado. Construction began in March 1968 with commercial operation previously scheduled for March 1971.

This station will be the first HTGR in the United States with a prestressed concrete reactor vessel.

d. Vermont Yankee Nuclear Power Corporation - Vermont Yankee Plant Ebasco is engaged as Agent of the Vermont Yankee Nuclear Power Corporation for the engineering and construction of a 540 Mwe nuclear power plant using a General Electric Company boiling water nuclear steam supply system. The nuclear plant will be owned and operated by the Yankee group of 11 investor-owned electric utility companies.

e. Carolina Power & Light Company - H. B. Robinson No. 2 Ebasco is working with Westinghouse Electric Corpora-tion, the prime contractor, in the design engineering and construction of a 670 Mwe nuclear power plant.

Using a Westinghouse pressurized water nuclear steam supply system, the plant will be owned and operated by the Carolina Power & Light Company.

Millstone Point Company - Northeast Utilities Millstone Unit No. 1 Ebasco is a subcontractor to GE, the prime contractor, performing the design engineering and construction of the 650 Mwe Millstone Nuclear Power Plant, Using a GE boiling water nuclear steam supply system the plant will be located at Millstone Point, Connecticut. The

EXHIBIT IV.

Page 3 plant will be owned and operated by the Millstone Point Company which is comprised of The Connecticut Light and Power Company, The Hartford Electric Light Company, and Western Massachusetts Electric Company.

Centrales Nucleares del Norte - Nuclenor (Spain)

Ebasco is a subcontractor to GE, the prime contractor, in the design engineering and construction management of a 440 Mwe nuclear power plant. The plant, using a General Electric boiling water nuclear steam supply system, will be located at Santa Maria de Garona on the Ebro River in Spain. It will be owned and operated by Centrales Nucleares del Norte, S A (Nuclenor), comprised of the investor-owned electric utilities, Iberduero and Viesgo.

Japan Atomic Power Company - Tsuruga Ebasco is a subcontractor to GE for design engineering and inspection of construction of the 350 Mwe Tsuruga Nuclear Power Plant. The plant, using a GE boiling water nuclear steam supply system, will be located on the Tsuruga Peninsula in Japan and will be owned by The Japan Atomic Power Company.

Tokyo Electric Power Company - Fukushima No. 1 and No. 2 Ebasco is a subcontractor to GE, providing design engineering and inspection of construction of the 440 Mwe Unit No. 1 and has initiated work on the 780 Mwe Unit No. 2 of the Fukushima Nuclear Electric Station. This station will be owned and operated by The Tokyo Electric Power Company, Inc.

Advanced Test Reactor Ebasco has prime contract responsibility for the engineering, design and the engineering inspection of construction of the Advanced Test Reactor Project.

This project is being built for the Atomic Energy Commission at the National Reactor Testing Station in Idaho. This is a 250 Mwt test reactor facility containing a total of nine test loops, "hot cells" and other supporting services and installations. The basic design and construction are now complete and criticality was attained on July 2, 1967.

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k. Power Burst Facility Ebasco has responsibility for engineering, design and inspection of the Power Burst Facility being constructed for the U. S. Atomic Energy Commission at the National Reactor Testing Station in Idaho.

The reactor will have the capability of generating power bursts as high as 3000 Mw-second with initial asymptotic periods as short as one millisecond.

Completion of the PBF was scheduled for October 15, 1969.

1. SENN Nuclear Plant Ebasco performed engineering design and construction management for the 150 Mwe (upgraded to 180 Mwe) nuclear power plant for the Societa Elettronucleare Nazionale (SENN) in Italy. Engineering and construc-tion are now complete. The plant is operating satisfactorily.

m. JPDR Nuclear Plant The scope of Ebasco's design and construction work on this project (the Japan Power Demonstration Reactor

-- JPDR) was similar in nature to that described for the SENN project. Criticality was attained in June 1963 and the first commercial power delivered to the system the first quarter 1964.

COMBUSTION ENGINEERING INCORPORATED Combustion's nuclear power activities are of three general types: design, development, construction and operation of reactor systems; design and fabrication of nuclear components; and support of design, development and analytical projects.

A summary of the company's principal efforts and accomplish-ments in the light water cooled and moderated reactor field is provided on the following pages.

a. Naval Propulsion System During the period 1955 through 1960, Combustion was a major contributor to the U. S. Naval Reactors program. The company designed and built, at its

EXHIBIT IV.

Page 5 Windsor, Connecticut site, the prototype of a small attack submarine power plant. This prototype (SIC) went into operation in 1959 and has been operated by Combustion as a naval training facility. A second plant of this type was also designed and built by Combustion for installation in the SSN Tullibee which has been operated as a part of the United States nuclear submarine fleet for ten years. In the design, development, construction and operation of the proto-type syst: em and the submarine power plant, Combustion's responsibilities included all safety aspects of the reactor systems.

Boiling Nuclear Superheat (BONUS) Plant Combustion has been responsible for the nuclear design and for the direction of startup and initial operation of the BONUS plant in Puerto Rico.

The BONUS plant achieved full power operation in September 1965 and was the first nuclear power plant in the United States operating with an integral superheating core.

Consumers Power Company - Palisades Plant Early in 1966, Combustion was awarded a contract to design and provide components for an 800 Mwe Nuclear Steam Supply System and fabricate its initial fuel loading. Site construction has started. Commercial operation was planned 'for May 1970.

Omaha Public Power District Fort Calhoun Station In October 1966, Combustion was awarded a contract to furnish a 475 Mwe Nuclear Steam Supply System> a matching turbine generator and fuel for three cores.

Commercial operation of this plant is scheduled for May 1971.

Maine Yankee Atomic Power Company In early 1967, Combustion was awarded a contract to furnish an 800 Mwe Nuclear Steam Supply System, and fuel for two cores. Commercial operation of the plant is scheduled for early 1972.

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f. Baltimore Gas & Electric Company - Calvert Cliffs Units 1 & 2 In May 1967, Combustion was awarded a contract to furnish two 850 Mwe Nuclear Steam Supply Systems and fuel for 3-1/3 cores. Commercial operation of Unit 1 is, scheduled for June 1972. Unit 2 is scheduled for operation in June 1973.

g. Northeast Utilities Services - Millstone Unit No. 2 In December 1967, Combustion was awarded a contract to furnish an 850 Mwe Nuclear Steam Supply System and fuel for two (2) cores. Commercial operation is scheduled for April 1974.

h. Jersey Central Power & Light - Forked River No. 2 In December 1969 Combustion Engineering was awarded a contract to furnish 1130 Mwe Nuclear Steam Supply System and fuel for two (2) cores. Commercial operation is scheduled for February 1976.

Southern California Edison - San Onofre Units Nos. 2 & 3 In February 1970 Combustion was awarded a contract to furnish two 1180 Mwe Nuclear Steam Supply Systems and initial fuel loads. Commercial operation for Unit No. 1 is scheduled for June 1975. Unit No. 2 is scheduled for operation in June 1976.

j. Arkansas Power & Light - Arkansas Nuclear One - Unit 2 In May 1970 Combustion was awarded a contract to furnish a 950 Mwe Nuclear Steam Supply System and initial fuel. Commercial operation is scheduled for December 1975.

k. Louisiana Power &, Light - Waterford Unit No. 3 In July 1970 Combustion was awarded a contract to furnish 1150 Mwe Nuclear Steam Supply System and initial fuel. Commercial operation is scheduled for December 1976.

EXHIBIT IV.

Page 7 The development and design by Combustion of a pressurized water reactor for utility service dates back to 1958. At that time, the company was selected by the AEC to undertake the design, analysis and economic evaluation of a 250 Mwe PWR plant, in conjunction with an architect-engineer. This effort provided initial technical and economic guidelines for Combustion's commercial development of the PWR.

Combustion's nuclear laboratories have been engaged in the development and testing of fuels, fuel elements, control assem-blies, reactor components and materials for reactor application.

Particular emphasis has been given to U02 and Zircaloy cladding technology, involving both in-pile and out-of-pile investigations.

The initial efforts in the laboratories were associated with submarine reactor programs. Since 1960, the personnel of the nuclear laboratories have actively participated in the joint United States AEC Euratom research and development program for fuels development. In addition to these programs, personnel in the nuclear laboratories have been responsible for materials design activities for the HWOCR study and for pressurized water, boiling water, nuclear superheat, and fast breeder reactor systems.

During the period 1955 - 1961) Combustion was a major supplier of nuclear cores for naval propulsion service. The company has fabricated the boiling and the superheating fuel for the BONUS reactor. The boiling section of this core is made up of Zircaloy-clad'od type UO fuel elements fundamentally similar to those being utilized iE this plant. The superheater fuel utilizes Inconel-clad rod type U02 fuel elements. The superheater cladding is designed for an operating temperature of 1250 F.

Combustion has fabricated and shipped many reactor vessels for utility plant service and for naval service. Additional vessels for plant sizes up through 850 Mwe are now in process for future service.

The company has been fabricating nuclear steam generators for naval service for approximately ten years. In addition, the company designed and fabricated the ten steam generators in the Hanford New Production Reactor facility.

The P. F. Avery Company, a subsidiary of Combustion, is a highly experienced organization with the facilities for manufacturing all reactor vessel internal structures.

The Windsor facilities of Combustion are equipped to fabricate and provide the necessary quality control for the fabrication of fuel assemblies, control assemblies, control assembly drive mechanisms, and other specialized nuclear components.