ML19030A891

Submit Statement & Supporting Document to Satisfy Guarantee Requirements as Provided Under Alternative No. 5, Required by 1975 Amendments to Price-Anderson Act (Public Law 94-197)

ML19030A891
Person / Time
Site:	Salem
Issue date:	03/13/1978
From:	Schneider F Public Service Electric & Gas Co
To:	Saltzman J Office of Nuclear Reactor Regulation
References
Download: ML19030A891 (6)

Text

Frederick W. Schneider Public Service Electric and Gas Company 80 Park Place Newark, N.J. 07101 201/430-7373 Vice President Production March 13, 1978 Mr. Jerome Saltzman, Chief Antitrust & Indemnity Group Nuclear Reactor Regulation U. S. Nuclear Regulatory Commission Washington, D. c. 20555 RE: SALEM GENERATING STATION UNIT NO. 1 DOCKET NO. 50-272; GUARANTEEING RETROSPECTIVE PREMIUMS FOLLOWING NUCLEAR INCIDENT Mr. Saltzman:

As required by the 1975 Amendments to the Price-Anderson Act (Public Law 94-197), the owners of Salem Generating Station Unit No. 1 submit the following statements and supporting documents to satisfy guarantee requirements as provided under Alternative No. 5:

1. 1977 Stockholders' Annual Report of each owner.

2. Summary of Owners' 1978 Projected Internal Cash Flow Statements supported by individual certified Internal Cash Flow Statements.

Similar documents will be filed by Philadelphia Electric Company for the owners of the Peach Bottom Generating Station Units 2 and 3.

Very truly yours,

I.

SALEM GENERATING STATION OWNERS PROJECTED INTERNAL CASH FLOW STATEMENT FOR THE YEAR 1978 Public Service Philadelphia Atlantic City Delmarva Electric and Electric Electric Power & Light Gas ComEan;i:: ComEan;i:: ComEan;i:: ComEan;i:: Total (Th o u s a n d s of D o 1 1 a r s)

Net Income $189 167 $176 925 $28 789 $49 660 $444 541 Less Dividends Paid 170 187 177 517 23 937 34 263 405 904 e I lI Retained in Business 18 980 (592) 4 852 15 397 38 637 I

Adjustments:

Depreciation 161 034 115 547 21 345 31 282 329 208 Amortization and Other 42 180 7 946 918 7 638 59 682 Deferred Income Taxes and Investment Tax Credits 85 203 66 201 9 534 11 063 172 001 Allowance for Funds Used During Construction (46 498) (39 128) (6 749) (12 984) (105 359)

Total Adjustments 241 919 150 566 26 048 36 999 455 532 Internal Cash Flow ~260 899 $149 974 $30 900 $52 396 ~9:29: 162 Nuclear Generating Station Percentage of Ownership Salem 1 42. 59% 42. 59% 7.41% 7.41% 100%

Maximum Contingent Liability (Severally and not Jointly) $ 4 259 $ 4 259 $ 741 $ 741 $ 10 000 1.

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PUBLIC SERVICE ELECTRIC AND GAS COMPANY MONTHLY INTERNAL CASH FLOW STATEMENT FOR THE YEAR 1978 SALEM STATION CO-OWNER 1978 Estimated January February March April May June July August September October November December Total (T h o u s a n d s of D o 1 1 a r s)

Net Income $21 014 $15 098 $ 16 051 $10 099 $11 076 $ 16 478 $20 091 $20 339 $ 12 422 $13 067 $12 417 $ 21 015 $189 167 Less Dividends Paid 41 005 41 077 44 015 44 090 170 187 Retained in Business 21 014 15 098 (24 954) 10 099 11 076 (24 599) 20 091 20 339 (31 593) 13 067 12 417 (23 075)

Adjustments:

Depreciation 13 329 13 377 13 392 13 327 13 349 13 398 13 431 13 448 13 469 13 489 13 505 13 520 161 034 Amortization and Other 3 846 3 603 3 678 3 388 3 266 3 370 3 531 3 547 3 341 3 450 3 393 3 767 42 180 Deferred Income Taxes and Investment Tax Credits 12 763 4 212 7 036 2 636 4 382 8 643 10 822 12 225 4 046 5 571 4 134 8 733 85 203 Allowance for Funds Used During Construction (3 985) (4 180) (4 349) (3 089) (3 204) (3 350) (3 540) ~) (3 948) (4 152) (4 345) (4 595) (46 498)

Total Adjustments 25 953 17 012 19 757 16 262 17 793 22 061 24 244 25 459 16 908 18 358 16 687 21 425 241 I Internal Cash Flow ~46 967 ~32 110 ~ {5 197) ~26 361 ~28 869 ~ (2 538) i_44 335 ~45 798 Hl4 685) ~31 425 ~29 104 ~ {! 650) ~260 899 As indicated on the summary slieet "Projected Internal Cash Flow Statement", the maximum contingent liability of Public Service Electric and Gas Company which amounts to $4,259,000 is fully covered by any combination of any three-month period as shown by this statement.

PUBLIC Date Mar ch 9, 19 78 By~-4'--~=-....,-~=--"-=-~~~~~~~

.. Parker C, Peterman Vice President and Comptroller

Philadelphia Electric Company System Internal Cash Flow Statement 1978

$1 000 January Februar:z: March April ~ June Bud ret Jul:z: August September ~ November December Total ..

Net Income --------------------------- $16,521 $16,233 $13,480 $12,095 $10,727 $12,205 $15,630 $18,716 $16,939 $12,227 $14,250 $17,902 $176,925 Dividends on Preferred Stock --------- (10,173) (10,166) (11;228) (11,228) (42,795)

Dividends on Common Stock ------------ (17,478) (5,000) (28,601) _i2_,_QQQ.) . (28,742) c2,ooo) (28,901) (16 1 000) (134,722)

Retained Earnings -------------------- (957) 6,060 8,,480 (16,506) 561 7,205 (13,112) 7,488 11,939 (16,674) 3,022 1,902 (592)

Adjustments:

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9,540 9,560 9,591 9,615 9,745 9,817 10,049 115,547 e

Depreciation 9,500 9,507 9,517 9,530 9,576 Amortization & Other --------------- 699 607 649 654 657 619 702 674 688 633 665 699 7,946 Deferred Income Taxes and Investment Tax Credits ---------------------- 1,976 (201) (316) 816 2,741 4,134 6,705 7,820 6,598 9,042 12,135 14',751 ..., 66,201 Allowance for Other Funds Used During Construction ---------------------- (2,901) (2,969) (3,041) (3,116) (3,172) (3,232) (3,300) (3,365) (3 444) (3,511) (3,513) (3,564) (39,128)

Total Adjustments --------------- 9,274 6,944 6,809 7,884 9,766 11,081 13,683 14,720 13,457 15,909 19,104 21,935 150,566 Internal Cash Flow ------------------- $ 8,317 $13,004 $15,289 $(8,622) $10,327 $18,286 $ 571 $22,208 $25,396 $ (76.zl $22,126 $23,837* $149,974 Since the Company has sufficient cash flow to ensure that its respective premiums would be available for payment, it does not plan to curtail any capital expenditures.

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ATLANTIC CITY ELECTRIC COMPANY MONTHLY INTERNAL CASH FLOW STATEMENT JANUARY - DECEMBER 1978 Estimated January February April ~ June July August September October November December (T h o u s--a-Il d s of P o 1 1 a r s)

Net Income $ 930 $ 698 $1,954 $ 2,186 $1,501 $2,364 $3,486 $4,946 $5,014 $ 2,842 $1,364 $1,504 $28,789 e

Less Dividend's Paid 4,347 1,435 4,466 1,571 4,479 1,571 4,496 1,512 23;937 Retained in Business (3,417) {737) l,_954 (2,280) (70) 2,364 (993) 3,375 5,014 (I,654) (208) 1,504 4,852 Adjustments:

Depreciation 1,764 1,764 1,768 1,768 1,771 1,773 1,788 1,786 1,790 1, 789' 1,792 1,792 21,345 Amortization and Other 120 219 159 156 158 156 159 161 156 158 155 161 1,918 Deferred Income Taxes and Investment Tax Credits 794 795 795 794 795 794 795 794 795 795 795 793 9,534 Allowance for Funds Used During Construction. (675) ~)

Total Adjustments Internal Cash Flow ' $7 ,149 ATLANTIC CITY ELECTRIC COMPANY

"~~U7 E. D:HUig~ d v. -

Vice President-cont::

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DELMARVA POWER & LIGHT COMPANY MONTHLY INTERNAL CASH FLOW STATEMENT JANUARY - DECEMBER 1 1978 Estimated January February March April ~ June July August September October November December Total (Thousands of Dollars)

Net Income $ 4,370 $ 4,358 $ 3,807 $ 3,257 $ 2,884 $ 3, 773 $ 4,814 $ 5,384 $ 5,341 $ 3,218 $ 4, 105 $ 4,349 $ 49,660 Less Dividends Paid ~ _2_,lli __hill __hill 2-tlli ~ ~ _2,_ill_ _hill _L_lli -2..Jll __b1_!U_ 34,263 Retained in Business ~ ~) _hill ___hill Jl..ill) _hfil 3,524 _.ill. ~ _hill J.!.._Q.l.Q) __hQg 15,397 Adjustments:

Depreciation 2,530 2,572 2,563 2,570 '

2,575 2,582 2,628 2,633 2,644 2,643 2,664 2,678 31,282 Amortization and Other (1, 796) (2,769) 1,539 6,229 4,491 878 (3,044) (2,148) 1,014 998 868 1, 378 7,638 9 Deferred Income Taxes and Investment Tax Credit 1, 712 1,687 599 ( 542) (530) 638 1,990 2,238 1, 694 117 726 734 11,063 Allowance for Funds Used During Construction ~) ~) 1!.t.Q.Q2) _(2&..V ihQ!l) ~) (1,076) J.!....ill) 1!....ill> . th!2D ~) .t!....lll> {12,984)

Total Adjustments __hill __ill_ -2.tfil ~ 51524 3,039 _ill -1..t.§Q.Q_ ..lb1ll _hill -1....Q!Q ~ 36,999 Internal Cash Flow $ 4,650 $ (242) $ 5,687 $ 9,267 $ 3,267 $ 4,683 $ 41022 $ 1,826 $ 7,231 $ 4,485 $~ $ 5,580 $ 52,396 As indicated on the summary sheet "Projected Internal Cash Flow Statement", the maximum contingent liability of Delmarva Power & Light Company which amounts to $ 741 is fully covered by any combination of any three-month period as shown by this statement.

DELMARV~..L COMPANY By 4. . ~.--.--A.

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