ML19092A294

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Decommissioning Funding Status Report
ML19092A294
Person / Time
Site: Millstone  Dominion icon.png
Issue date: 03/26/2019
From: Gerald Bichof
Dominion Energy Nuclear Connecticut
To:
Document Control Desk, Office of Nuclear Reactor Regulation
References
19-049
Download: ML19092A294 (5)
v • d • e


Text

Dominion Energy Nuclear Connecticut, Inc.

~ Dominion 5000 Dominion Boulevard, Glen Allen, VA 23060 DominionEnergy.com March 26, 2019 P' Energy United States Nuclear Regulatory Commission Serial No.19-049 Attention: Document Control Desk

MILLSTONE POWER STATION UNITS 2 AND 3 DECOMMISSIONING FUNDING STATUS REPORT Pursuant to 10 CFR 50.75(f)(1 ), Dominion Energy Nuclear Connecticut, Inc. (DENG) is providing this report on the status of decommissioning funding for Millstone Power Station Unit 2 (MPS2) and Unit 3 (MPS3). provides the following information for MPS2 and MPS3:

Table I- NRC Minimum Financial Assurance Amount as of: 12/31/2018 Table II - . Funds Held in External Trusts as of: 12/31/2018 Table Ill - Current Annual Funding Levels Table IV- NRC Minimum Financial Assurance Summary Table The following information is provided in support and as part of this filing:

1. Preliminary December 2018 Bureau of Labor Statistics indices values are used because the firial December 2018 indices values were not available at the time of this filing.
2. The escalation rate of decommissioning costs is held at 0% based on assuming 2% Real Rate of Return. * *
3. The growth rate on Trust Funds is held at the allowed 2% Real Rate of Return over the escalation rate.
4. No rate regulatory authority citation for MPS2 and MPS3 is referenced because the 2% Real Rate of Return allowed by 50.75(e)(1)(i) is used in the calculations and MPS2 and MPS3 are merchant units.
5. There are no contracts upon which DENG is relying under paragraph 10 CFR 50.75(e)(1)(v) and there were no modifications to the licensee's current method of providing financial assurance since the last submitted report.
6. There are n*o annual funding amounts for MPS2 and MPS3.
7. Trust Fund amounts shown. for each of the units in this report are market value and after-tax on realized gains and losses. The Trust Fund balances have not been adjusted for unrealized gain or loss positions not currently taxable.
8. Since the previous biennial submittal on March 30, 2017 (Serial No.17-082, ADAMS Accession No. ML17094A520) for MPS2 and MPS3 there have been no material changes to trusr agreements established for nuclear decommissioning for MPS2 and MPS3.

Serial No.19-049 Docket Nos. 50-336/423 Page 2 of 2 Please contact Mr. Craig D. Sly at (804) 273-2784 if you have any questions or require additional information.

Sincerely,

~3~

Senior Vice President- Nuclear Operations & Fleet Performance Dominion Energy Nuclear Connecticut, Inc.

Attachment:

Nuclear Decommissioning Financial Assurance as of 12/31/2018 Commitments made in this letter: None cc: U. S. Nuclear Regulatory Commission Region I 2100 Renaissance Blvd, Suite 100 King of Prussia, PA 19406-2713 NRC Senior Resident Inspector (Units 2 and 3)

Millstone Power Station Mr. R. Guzman NRC Senior Project Manager (MPS Units 2 and 3)

U. S. Nuclear Regulatory Commission One White Flint North 11555 Rockville Pike Mail Stop 08 C-2 Rockville, MD 20852-2738 Mr. Edward Kaczinski Massachusetts Municipal Wholesale Electric Co.

Moody Street, P. 0. Box 426 Ludlow, MA 01056 Mr. Joseph P. McKearin Treasury Analyst Green Mountain Power Corporation 77 Grove Street Rutland, VT 05701 Ms. Carolyn Anderson Director of Transmission Policy & Insurance Green Mountain Power Corporation 2152 Post Road Rutland, VT 05701

Serial No.19-049 Docket Nos. 50-336/423 Attachment 1 Nuclear Decommissioning Financial Assurance as of 12/31/2018 Millstone Power Station Units 2 and 3 Dominion Energy Nuclear Connecticut, Inc. {DENC)

Serial No.19-049 Docket Nos. 50-336 / 423 Attachment 1 Page 1 of 2 DOMINION ENERGY NUCLEAR CONNECTICUT, INC.

N uc ear Decomm1ss1onmg F"manc1a . I Assurance as of 12/31/2018 Dominion Energy Nuclear Connecticut, Inc.

Nuclear Decommissioning Financial Assurance as of: 12/31/2018 Table I:

NRC Minimum Financial Assurance Amount as of: 12/31/2018 10 CFR 50.75 (f)(1)

(Millions ofDollars, differences due to rounding)

(See Note 5) (See Notes 1&5)

MPS MPS Unit2 Unit3 Total U3 Ov,.nershin DPR-65 NPF-49 U2&U3 Ov,.nershio %

Dominion Energy Nuclear Connecticut, Inc. $ 471.8 $ 468.9 $ 940.7 93.47%

Green Moun1ain Po11,er Corporation n/a $ 8.7 $ 8.7 1.73%

Massachusetts Municipal \J\/E.C n/a $ 24.1 $ 24.1 4.80%

Total $ 471.8 $ 501.6 $ 973.5 100.00%

Table II:

Funds Held in External Trusts as of: 12/31/2018 10 CFR 50.75 (f)(1)

(Millions ofDollars)

(See Note 1)

MPS MPS Unit2 Unit3 Total U3 Ov,.nershio DPR-65 NPF-49 U2&U3 Ov,.nershio %

Dominion Energy Nuclear Connecticut, Inc. $ 672.5 $ 664.1 $ 1,336.6 93.47%

Green Moun1ain Po11,er Corporation n/a $ 11.5 $ 11.5 1.73%

Massachusetts Municipal \J\/E.C n/a $ 29.2 $ 29.2 4.80%

    • Total <see Note 21 $ 672.5 $ 704.8 $ 1,377.3 100.00%

Table Ill:

Current Annual Funding Levels 10 CFR 50.75 (f)(1)

(Millions ofDollars)

(See Note 1)

MPS MPS Unit2 Unit3 Total U3 Ov,.nershio DPR-65 NPF-49 U2&U3 ev..nershio %

Dominion Energy Nuclear Connecticut, Inc. $ - $ - $ - 93.47%

Green Moun1ain Po11,erCorporation $ - $ - $ - 1.73%

Massachusetts Municipal \J\/E.C $ - $ - $ - 4.80%

Total $ - $ - $ - 100.00%

Serial No.19-049 Docket Nos. 50-336 / 423 Attachment 1 Page 2 of 2 DOMINION ENERGY NUCLEAR CONNECTICUT, INC.

N uc ear Decomm1ss1onmg F"manc1a . IAssurance as of12/31/2018 Table IV:

NRC Minimum Financial Assurance Summary Table 10 CFR 50.75 (f)(1)

(Millions of Dollars - except percentage and years, differences due to rounding)

(See Note 5) (See Notes 1&5)

MPS MPS Unit2 Unit3 Total DPR-65 NPF-49 U2 &U3 Method for Providi[!I Financial Assurance Pre-payment Pre-payment NRCMinimumAmounts as of: 12/31/2018 $ 471.8 $ 501.6 $ 973.5 Funds in External Trusts as of. 12/31/2018 $ 672.5 $ 704.8 $ 1,377.3 (See Nole 2)

Funds in External Trusts as ot 12/31/2018 Minus NRC Minimum Amounts as of. 12/31/2018 $ 200.7 $ 203.2 $ 403.9 (See Noles 2 & 3)

Projected Annual Escalation Factor 0.00% 0.00%

.Annual Trust Funds Earnings Rate

'(After Tax& Fees-assumes 2% Real Rate of Return) 2.00% 2.00%

YearThatOperating License Expires (Reflects License Renewal for Unit2 and Unlt3) 2035 2045 NRC Mnimum Financial Assurance Amount 3.5 years after slartof Decommissioning $ 471.8 $ 501.6 $ 973.5 Estimated Funds in External Trusts 3.5 Years aflerslart of Decommissioning $ 1,000.9 $ 1,287.4 $ 2,288.3 (See Note 2)

Estimated Funds in e:xcess or (underfunded) to NRC Minimum 3.5 years aflerslartofDecommissioning in Future Value$ $ 529.1 $ 785.7 $ 1,314.9 Estimated funds in e:xcess or (underfunded) to NRC Minimum Discounted using Annual Trust Funds Earnings Rate to 12/31/2018 $ $ 355.5 $ 430.2 $ 785.7 (See Notes 3 & 4)

Notes: Tables I through IV (Any minor differences in totals are due to rounding.)

1. MPS3 is jointly owned by Dominion Energy Nuclear Connecticut, Inc. (93.4707%), Green Mountain Power Corporation (1.7303%) and Massachusetts Municipal WEC (4.7990%).
2. The Trust Funds shown reflect the total amount of funds in the Trusts including MPS3 Minority Owners, all of which are available for Radiological Decommissioning.
3. Negative amounts (if any) indicate that the value of the Trust Funds are less than the value of the NRC Minimum.
4. The Future Value calculation for MPS2 and MPS3 reflects 2% Real Rate of Return applied 1/1/2019 to 3.5 years after start of Decommissioning assuming a 0.00% Esc Rate.
5. Adjustment Factors used in calculating NRC Minimum Values are based on preliminary December 2018 BLS Producer Price Indexes, as final December 2018 indexes were not available at time of calculation.
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