ML18101B326
| ML18101B326 | |
| Person / Time | |
|---|---|
| Site: | Salem, Hope Creek  |
| Issue date: | 04/15/1996 |
| From: | Eliason L Public Service Enterprise Group |
| To: | NRC OFFICE OF INFORMATION RESOURCES MANAGEMENT (IRM) |
| Shared Package | |
| ML18101B327 | List: |
| References | |
| LR-N96096, NUDOCS 9604190173 | |
| Download: ML18101B326 (5) | |
Text
.. e Public Service Electric and Gas Company Leon R. Eliason Public Service Electric and Gas Company P.O. Box 236, Hancocks Bridge, NJ 08038 609-339-1100 Chief Nuclear Officer & President Nuclear Business Unit APR 151996 LR-N96096 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 & 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 the Hope Creek Generating Station submit the following statements and supporting documents to satisfy guarantee requirements as provided under Alternative No. 5:
- 1.
1995 Stockholders' Annual Report of each owner (except PECO Energy Company).
- 2.
Individual certified Internal Cash Flow Statements showing 1995 Actual and 1996 Projected with Explanation of Significant Variations (except PECO Energy Company)
Similar documents are filed by the PECO Energy Company for the owners of the Peach Bottom Atomic Power Station, Unit Nos. 2 and 3.
" Sincerely, Enclosures (6)
(--- -9604190173 9b04i5-- ----- -----\\
PDR ADOCK 05000272 I
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Document Control Desk LR-N96096 APR 1 51996 C
All w/o 1995 Stockholders' Annual Reports (unless indicated)
Mr. T. T. Martin, Administrator -
Region I U. S. Nuclear Regulatory Commission 475 Allendale Road King of Prussia, PA 19406 Mr. D. Jaffe Licensing Project Manager -
Hope Creek U. S. Nuclear Regulatory Commission One White Flint North Mail Stop 14E21 11555 Rockville Pike Rockville, MD 20852 Mr. L. Olshan Licensing Project Manager -
Salem U. S. Nuclear Regulatory Commission One White Flint North Mail Stop 14E21 11555 Rockville Pike Rockville, MD 20852 USNRC Resident Inspector Office (X24)
(with 1995 Stockholders' Annual Reports)
Mr. Kent Tosch, Manager IV Bureau of Nuclear Engineering 33 Arctic Parkway CN 415 Trenton, NJ 08625 Mr. Robert Wood U. S. Nuclear Regulatory Commission One White Flint North 11555 Rockville Pike Mail Stop 12E4 Rockville, MD 20852 95-4933
Net Income Common & Preferred Dividends Paid Retained in Business Adjustments:
Depreciation Deterred Income Taxes and Investment Tax Credits Allowance for Funds Used During Construction Other Non-cash Expense (Income)
Total Adjustments Internal Cash Flow Average Quarterly Cash Flow 1995 Actual
$117,488 (102,034) 15,454 113,022 13,476 (2,774)
(5,213) 118,511
$133,965
$33,491 Delmarva Power & Light Company Projected Internal Cash Flow Statement For Year 1996 Compared to 1995 Actual
($000) 1996 Projected
$120,417 (104,019) 16,398 121,364 8,123 (4,500)
(3,725) 121,262
$137,660
$34,415 Explanation of Significant Variances Due to higher plant balances including plant from the acquisition of Conowingo Power Company on 6/19/95.
Primarily due to change in deferred fuel balance.
The Company has sufficient cash flow to ensure that its respective premiums would be available for payment.
By:
Date:
a es P.
avin, Comptroller and Ch et Accounting Officer
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 Unrecovered State Excise Tax Employee Separation Costs 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 1995 98,752 95,866 2,886 78.461 (20,434) 15,694 15,721 (2,496) 9,560 (19,112)
(17,474) 59,920 62 806 15,702 ATLANTIC CITY EL~QMP~
PROJECTED INTERNAL CASH FLOW STATEMENT FOR YEAR 1996 - COMPAREl2.IQ_jJl95 ACTUAL.
(Thousands of Dollars)
Projected 1996 87,950 88,522 (572) 81,355 15,369 (8,643) 17,932 (1,881) 9,560 (7,488) 24,593 130,797 130,225 32,556 7.41%
7.41%
5.00%
$1,982 Explanation of Significant Variations Projected reflects increased operating and interest expenses offset in part by increased electric sales.
Projected reflects effects of anticipated preferred stock redemptions Actual reflects increase in underrecovered fuel and energy costs largely due to the company's election to defer cost to a future period. Projected reflects increased rates to recover deferred costs.
Projected primarily reflects the recovery of deferred LEC costs noted above.
Actual reflects payments for employee separation costs previously accrued. Projected reflects remaining payments of these costs.
Primarily changes in working capital components.
As indicated by this statement, the Average Quarterly Cash Flow fully covers the maximum liability of Atlantic City Electric Company which amounts to $1,982,000 as shown above.
By:,l: Lf /(> /( D=>
- Michael J. BarroJI Date V.P. - Chief Financial Officer
Net Income Less:
Dividends Paid Retained in Business Adjustments:
Depreciation and Amortization 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)
PUBLIC SERVICE ELECTRIC AND GAS COMPANY (Salem and Hope Creek)
Projected Internal Cash Flow Statement For Year 1996 Compared to 1995 Actual (Thousands of Dollars) 1995 Actual
$616, 964 535,962
$ 81. 002
$591, 114 75,028 59,390 (3' 683) 1996 Proiected
$569,378 503,787
$ 65 r 59_1
$626,001 96 / 507 (7,244)
(3 / 086)
Explanation of Significant Variations Bergen Repowering Project Anticipated additional outages.
Primarily Deferred Taxes on Liberalized Depreciation.
Accretion to Income related to various abandonments.
Allowance for Funds Used During Construction (36, 267)
(18,294)
Reduced construction expenditures.
Total Adjustments
$685,582
$693,884 Internal Cash Flow
$766,584
$759,475 Average Quarterly Cash Flow
$191, 646
$189,869 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.
PUBLIC SERVICE ELECTRIC AND GAS COMPANY DATE:
Patricia A. Rado Vice President and Controller