ML19093B441
| ML19093B441 | |
| Person / Time | |
|---|---|
| Site: | Surry  |
| Issue date: | 06/24/1977 |
| From: | Ragone S Virginia Electric & Power Co (VEPCO) |
| To: | Saltzman J Office of Nuclear Reactor Regulation |
| References | |
| Download: ML19093B441 (1) | |
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VIRGINIA ELECTRIC AND POWER COMPANY RICHMOND,VIRGINIA 23261 STANLEY RAGONE ExECUTIVE YICB PRESIDENT Mr. Jerome Saltzman, Chief Antitrust & Indemnity Group Nuclear Reactor Regulation Nuclear Regulatory Commission Washington, D.C.
20555
Dear Mr. Saltzman:
June 24, 1977 Serial No. 263/061577 Reference is made to the last paragraph of your letter of June 15, 1977, requesting information with respect to the type of guarantee this Company will provide to implement provisions of the 1975 amendments to the Price-Anderson Act (Public Law 94-197) relating to the new retrospective premium system to become effective on August 1, 1977.
Virginia Electric and Power Company (the Company) intends to provide the type of guarantee set forth in Alternative 5 (a showing of adequate cash flow) of the alternative requirements relating to guaranteeing retrospective premiums to assure that following a nuclear incident deferred retrospective premiums will be paid by licensees and that government funds will not have to be used to cover defaults in such payments.
As agreed by Mr. Ira Dinitz, Indemnity Specialist, in a telephone con-versation with Mr. B. D. Johnson of this Company, the cash flow projection to be filed with the first submission by August 1, 1977, will be for the calendar year 1977.
The Company elects April 1 of each year thereafter as the preferred anniversary date for future submittals, so the cash flow projection to be filed will be for the calendar year including such April 1.
We appreciate Mr. Dinitz's consideration of our problem of the period to be covered by the cash flow projection to be filed with our first submittal.
cc:
Mr.
- Ira Dini tz