ML18102A959
| ML18102A959 | |
| Person / Time | |
|---|---|
| Site: | Salem, Hope Creek  |
| Issue date: | 04/08/1997 |
| From: | Dawn Powell Public Service Enterprise Group |
| To: | NRC OFFICE OF INFORMATION RESOURCES MANAGEMENT (IRM) |
| Shared Package | |
| ML18102A960 | List: |
| References | |
| LR-N97226, NUDOCS 9704150100 | |
| Download: ML18102A959 (7) | |
Text
OPS~G Public Service Electric and Gas Company P.O. Box 236 Hancocks Bridge, New Jersey 08038-0236 Nuclear Business Unit APR 08 1997 LR-N97226 United States Nuclear Regulatory Commission Document Control Desk Washington, DC 20555 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 Gentlemen:
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.
1996 Stockholders' Annual Report of each owner (except PECO Energy Company).
- 2.
Individual certified Internal Cash Flow Statements showing 1996 Actual and 1997 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.
Enclosures (7) 1_5Q0_08 9704-150100 970408 PDR ADOCK 05000272 I
PDR The power is in your hands.
Sincerely, David R. Powell Manager -
Licensing and Regulation
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Document Control Desk LR-N97226
- C All w/o 1996 Stockholders' Annual Reports Mr. H. Miller, 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)
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 APR 0 81997
- APR 081997 Document Control Desk LR-N97226 JPP BC All w/o 1996 Stockholder's Annual Reports Senior Vice President - Nuclear Operations (X04)
Senior Vice President - Nuclear Engineering (Nl9)
General Manager -
Salem Operations (S05)
General Manager -
Hope Creek Operations (H07)
Director -
QA/NSR (XOl)
Manager - Offsite Safety Review (N38)
Manager - Business & Co-Owners Affairs (Nl8)
Onsite Safety Review Engineer -
Salem (Sl2)
Onsite Safety Review Engineer -
Hope Creek (Hll)
Station Licensing Engineer -
Hope Creek (X09)
Station Licensing Engineer -
Salem (X09)
J. J. Keenan, Esq. (X09)
Perry Robinson, Esq.
T. Wilborn (Newark, 9C)
Records Management (N21)
Microfilm Copy File Nos. 1.2.1, 2.9 Ms. Patricia MacFarland Goelez Manager - Joint Generation Atlantic Electric Company 6801 Black Horse Pike Egg Harbor Township, NJ 08234-4130 Ms. Robbie Kankus Nuclear Strategic Support PECO Energy Company, 63-C-5 965 Chesterbrook Blvd.
Wayne, PA 19087-5691 Mr. Carl D. Schafer Manager - External Operations Delmarva Power & Light Company 800 King Street P.O. Box 231 Wilmington, DE 19899
PUBLIC SERVICE ELECTRIC AND GAS COMPANY (Salem and Hope Creek)
Projected Internal Cash Flow Statement For Year 1997 ComEared to 1996 Actual (Thousands of Dollars) 1996 1997 Actual Projected EXElanation of Significant Variations Net Income 535,071 609,247 Salem settlement charge of $59 million in 1996.
Less: Dividends Paid 547 461 513,430 Lower funding requirements due to parent's repurchase of common stock.
Retained in Business (12,390) 95 817 Adjustments:
Depreciation and Amortization 604,245 589,585 Amortization of Nuclear Fuel 59,881 94,672 Anticipated Salem re-starts in 1997.
Deferred Income Taxes and Investment Tax Credits 18,012 5,902 Primarily deferred taxes on liberalized depreciation.
Statement of Financial Accounting Standards No. 90 - Regulated Enterprises - Accounting for Abandonments and Disallowance of Plant Costs (SFAS 90)
(3,128)
(2,646)
Allowance for Funds Used During Construction (16,854)
(21,151)
Increased construction expenditures in 1997.
Total Adjustments 662,156 666,362 Internal Cash Flow 649,766 762,179 Average Quarterly Cash Flow 162,442 190,545 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 BY,~
Patricia A. Rado Vice President and Controller
- e.
PUBLIC SERVICE ELECTRIC AND GAS COMPANY (Peach Bottom)
Projected Internal Cash Flow Statement For Year 1997 Com~ared to 1996 Actual (Thousands of Dollars) 1996 1997 Actual Projected Ex~lanation of Significant Variations Net Income
$ 535,071 609,247 Salem settlement charge of $59 million in 1996.
Less: Dividends Paid 547 461 513,430 Lower funding requirements due to parent's repurchase of common stock.
Retained in Business (12,390) 95,817 Adjustments:
Depreciation and Amortization 604,245 589,585 Amortization of Nuclear Fuel 59,881 94,672 Anticipated Salem re-starts in 1997.
Deferred Income Taxes and Investment Tax Credits 18,012 5,902 Primarily deferred taxes on liberalized depreciation.
Statement of Financial Accounting Standards No. 90 - Regulated Enterprises - Accounting for Abandonments and Disallowance of Plant Costs (SFAS 90)
(3,128)
(2,646)
Allowance for Funds Used During Construction (16,854)
(21,151}
Increased construction expenditures in 1997.
Total Adjustments 662,156 666,362 Internal Cash Flow
$ 649,766 762,179 Average Quarterly Cash Flow
$ 162,442 190,545 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
~~~
Patricia A. RadO*"
Vice President and Controller r
e.*
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) 8Wal19llii 75,017 92,066 (17,049) 80,845 (2,095) 1,449 16,417 (1,854) 9,560 (7,179) 48,018 145,161 128, 112 32,028 A TLANTIC_CITY _E_LJ;:CTRIC_c._OMPANY PROJECTED INTERNAL CASH FLOW STATEMENT E_OR YEAR 1997-C_QMPARED TO 1996 ACTUAL (Thousands of Dollars)
&QLe~fil 89,141 86,767 2,374 84,845 18,466 (12,009) 18,612 (2,792) 9,560 3,109 119,791 122,165 30,541 7.41%
7.41%
5.00%
$1,982 Explanation of Significant Variations Projected reflects increased electric sales and miscellaneous income.
Projected reflects effects of 1996 preferred stock redemptions.
Projected reflects increased rates to recover deferred costs.
Projected primarily reflects the recovery of deferred LEG costs noted above.
Actual reflects payments for employee separation costs previously accrued.
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:/(, ~i/;J~
'ichael J. Bar~n' V.P. - Chief Financial Officer Date
- e.
Net Income Common & Preferred Dividends Paid Retained in Business Adjustments:
Depreciation Deferred 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 Delmarva Power & Light Company Projected Internal Cash Flow Statement For Year 1997 Compared to 1996 Actual
($000) 1997 Projected Actual
$102,790
$116,187 (98,821)
(102,392) 3,969 13, 795 134,223 123,174 2,973 30,658 (2,683)
(4,953)
(7,667)
(12,083) 126,846 136,796
$130,815
$150,591
$32,704
$37,648 Explanation of Significant Variances New business start-up costs.
Additions to utility plant and nonutility assets.
Collection of deferred fuel costs.
The Company has sufficient cash flow to ensure that its respective premiums would be available for payment.
By
~
Date March 7, 1997 roller and Chief Accounting Officer
- e
~