ML18100A301
| ML18100A301 | |
| Person / Time | |
|---|---|
| Site: | Salem, Hope Creek  |
| Issue date: | 04/14/1993 |
| From: | Miltenberger S Public Service Enterprise Group |
| To: | NRC OFFICE OF INFORMATION RESOURCES MANAGEMENT (IRM) |
| Shared Package | |
| ML18100A302 | List: |
| References | |
| NLR-N93053, NUDOCS 9304190149 | |
| Download: ML18100A301 (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 14 1993 NLR-N93053 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, Unit 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.
1992 Stockholders' Annual Report of each owner.
(except Philadelphia Electric Company)
- 2.
Individual certified Internal Cash Flow Statements showing 1992 Actual and 1993 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.
Enclosures(6) 190072 9304190149 930414 PDR ADDCK 05000272 I
PDR Sincerely,
Document Control Desk NLR-N93053 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 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 Office'of State Programs Pamela J. Curham Direct.or Generation Atlantic Electric Company P.O. Box 1264 (MLC)
Pleasantville, NJ 08232 Mr. J. Ted Robb Director - Joint Owner Affairs Philadelphia Electric Company 62-A-4 955 Chesterbrook Blvd.
Wayne, PA 19807-5691 Carl D. Schaefer Manager External Operations Delmarva Power & Light Company 800 King Street P.O. Box 231 Wilmington, DE 19899 APRf~ 1993
Net Income less Dividends Paid Retained in Business Adjustnents:
Depreciation Amortization of Nuclear F\\.J.el Def erred Income Taxes and Investment Tax Credits Statement of Financial Accounting Starrlards No. 90 - Regulated Entel:prises - Accounting for Abaniomnents am Disallowance of Plant Costs (SFAS 90)
Allowance for F\\Jrrls Used D..Iring Construction Total Adjustments Internal cash Flow Average Quarterly cash Flow RJBLIC SERVICE EI.ECIRIC AND GAS a:MPANY (SAilM AND HOPE CREEK)
Projected Internal cash Flow Statement For Year 1993 - Compared to 1992 Actual
('lhousarrls of IX>llars)
Actual - 1992 Projected
$ 475,936 517,907
$ (41.971)
$ 552,011 91,903 39,986 (6,468)
(26,417)
$ 651,015
$ 609,044
$ 152,261
$ 610,176 529,318
$ 80,858
$ 494,270 107,314 122,977 (5,012)
(41,073)
$ 678,476
$ 759,334
$ l89,834 Explanation of Significant Variations Reduced overall outage time.
Primarily Deferred Taxes on Hope Creek Unit.2 abarrlonment.
Accretion to Income of the 1discount related to Hope creek am various abarrlornnents.
Increased construction expen::litures As in:licated by this statement, the Average Quarterly cash Flow covers the maximum contingent liability of Public Sei:vice Electric am Gas company, as defined by the Nuclear.Regulato:ry Commission. '!he presentation of this statement is consistent with that of prior years' filings.
RJBLIC SERVICE EIECIRIC AND GAS cx:MPANY
~~&
Rer=ting mTE
.J-3 /- f3
Net Income Less Dividends Paid Retained in Business Adjustments:
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 1993 Compared to 1992 Actual
($000) 1992 1993 Actual Projected Explanation of Significant Variances
$98,526
$102,816 Expected base rate increases In mld-1993 partly offset by the absence of the 1992 gain from settlement of the Peach Bottom lawsuit.
90,478 98,188 Higher dividends due to the Company's plans to Issue new shares of common stock.
8,048 4,628 95,285 103,463 Additional utility plant Is expected to be closed to plant-in-service during 1993.
491 14,628 Increased 1993 cash flows resulting from increases in scheduled nonutiiity subsidiary leveraged lease rent payments.
8,332 720 Deferred taxes on nonutility subsidiary leveraged leases are expected to decrease In 1993 since the tax basis Is becoming more fully depreciated.
(9,708)
(10,198)
The expected increase is due to anticipated higher construction work-in-progress balances.
94,400 108,613
$102,448
$113,241 25,612 28,310 fficlent cash flow to ensure that Its respective premiums would be available for payment.
P. Lavin
~u""""roller-Corporate and Chief Accounting Officer Date March 4, 1993
Net Income Less Dividends Retained in Business Major Adjustments:
Depreciation and Amortization Levelized Energy Clause - Net Def erred Income Taxes and Investment Tax Credits Unrecovered Purchased Power Costs Allowance for Funds Used During Construction State Excise Tax 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 1992
$107,446 96,148 11,298 69,371 (6,143) 13,531 13,410 (3,626) 2,930 16,168 105,641
$116,939
$29,235 ATLANTIC CITY ELECTRIC COMPANY PROJECTED INTERNAL CASH FLOW STATEMENT FOR YEAR 1993 -
COMPARED TO 1992 ACTUAL (Thousands of Dollars)
Projected 1993
$108,593 98, 311 10,282 73,836 (14,779) 23,900 13,950 (6,055)
(39,140) 2,314 54,026
$ 64,308
$16,077 7.41%
7.41%
5.00%
$1,982 Explanation of Significant Variations Further reduction of previously overrecovered costs.
Deferred income taxes associated with 1993 state excise tax payment.
1993 reflects required additional payment in move toward being on a state-mandated prepaid basis.
Primarily changes in working capital components and 1992 adjustment for nuclear decommissioning reserve amounts.
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 -~f........_.6)_9_.3 __ _
Frank F. Frankowski, Controller