ML19242A372
| ML19242A372 | |
| Person / Time | |
|---|---|
| Site: | Calvert Cliffs  |
| Issue date: | 07/25/1979 |
| From: | Poindexter C BALTIMORE GAS & ELECTRIC CO. |
| To: | Saltzman J Office of Nuclear Reactor Regulation |
| Shared Package | |
| ML19242A373 | List: |
| References | |
| NUDOCS 7908010535 | |
| Download: ML19242A372 (1) | |
Text
i B ALTI M O R E GAS AND ELECTRIC CHARLES CENTER. P.O. BOX 1475. BALTIMORE, MARYLAND 21203 CHRis H. PolNCEXTER r m.c.
July 25, 1979 Mr. Jercme Salt-n':, Chief Antitrust & Indennity Group IIuclear Reacter Re6ulatien United States Iluelear Regulatory Cennission Washingto.., EC 20555
Subject:
Calvert Cliffs !iuclear Power Plant Units IIos.1 and 2 Eceket :ios. 50-317 and 50-318 Guarantee of Retrospective Premiun Eear ?&. Salte an:
In accordance with Mr. 3. H. She.rry's letter of June 30, 1977, our annual submittal date for the Guarantee is August 1.
Acccrdingly, we are enclosing herewith Exhibit I
- A ecpy of the 1973 Annual Report to Stockholders of Ealtimore Gas and Electric Ccepany containing certified financial statements.
Exhibit II
- A copy of quarterly financial statements as of June 30, 1979.
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- A copy of Projected Cash Flow fcr the twelve ecnths
&AA ended July 31, if O.
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..arrative stateteit on curtailment /defe ent of capital xx.w.4 w 4 +- - - 1.r expenditures (if ar.y) to ensure that retrosrective premiums up to $10 million applicable to e' ch of the a
tvc units would be available for payrent.
Exhibit 'l
- A ccpy of letter dated October 26, 1978 from the :Iuclear Ferulatcry Ccrrission signed by Jerere Salt:can; Re:
suggested for.at for cash ficv prcjecticns.
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EXHIBIT III PAGE 1 of 2 Internal Cash Flow Projection fer Calvert Cliffs Nucleer Power Station Percentage Ovnership in All Operating Calvert Cliffs Unit No. 1 100.00%
Nuclear Units Calvert Cliffs Unit No. 2 100.00%
Maximun Total Contingent Liability ($000)
$20,000 Twelve Months Twelve Months Ended #1_30/79 Ended 7/31/80 Non-Cash Expenses ($0CO)
Depreciation and Atortization
$ 79,829
$ 82,152 Deferred Ince=e Taxes and Investment Tax Credits 20,702 53,62c Tctal
$109,531 3135,781 Percentage of Total to Maximum Total Centingent Liability 5LT.7%
678.9%
Retained Earningc ($C00)
Net Incene After Taxes
$123,613 Less Allowance for Funds Used During Construction 11,209 Less Dividends Paid 90,281, Total
$ 22,123 Total Internal Cash Flev
$131,65h Percentage of Total Internal Cash Flev to Maximun Total Contingent Liability 658.3%
State of Maryland )
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City of Baltimore )
Mr. C. F. Pcindexter nakes cath and says that he is Treasure. of Saltimore Gas and Electric Conpany; that the abcve Projected Cash Flev was prepared under his direction and in good faith in accordance with the stated Underlying Assurptions; that he has examined the above prcjection, and to the best of his kncvledge it is a fair representaticn cf cash ficv for the twelve cenths ended July 31, 1979
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'! ) ' ? fxt C Subscribed and sworn to tefere ue, a Notary Public, in and fer the State and City abcVe named, this day of
, 1979 "y Cennissicn expires
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EXHIBIT III PAGE 2 of 2 Baltimore Gas and Electric Cc=rany Underlyine Assumptiens for Pro.iected Cash Flev (1) Projected Cash Flow dces not include an eatinate of retained earnings.
However, Internally Genersted Funds without retained earninga are well in excess of the maximum possible retrospective pre =iums.
The Company is expected to reall:e rets.ned earnings net of Allovance For Funds Used During Construction during the projected period.
(2) Depreciation accruals tased on ec=posite straight line rates of 3.265 for electric property other than nuclear, 3.h55 for nuclear Property, 2.6% for gas, 2.75% for steam and 3% for con =cn utility property.
(3) Estimates of Federal income taxes and other tax expense are tamed upon existing tax laws and any known changes thereco.
(h) Accounting policies consistent with these in effect June 30, 1979.
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EXHIB7T IV Ealtincre Gas and Electric Cc=pany Curtailment of Catital Expenditures Estimated construction expenditures for the twelve tenths ended July 31, 1980 are $215 =1111cn. To insure that retrospective premiums under the Price Andersen Act veuld te available during the aforementioned twelve month peried without additional funds frca external sources, construction curtailments vould affect all constructicn expenditures rather than impacting a specific project.
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B A LTIM O R E GAS AND ELECTRIC COMPANY ST ATE %IEN l' OF INCOM E IIAI.ANCE SilEIT J.,
m i o., u h, e n...a s. M... o., > n.s. e
- o.. he u..,,ih, t o.smi iwis iv:s lun - u.
.li...r.n, A,..e to eTh u u.ht,fI d u o a ve vou vs.3 pe;n im i us Asegyg a h..omn.i,,,r o.,n" Utihty I'lant.
$3 M t.451
$2.x46.158 i spi rating IM o nue' les3 Accumulated !)cpreciation.
576 616 TA ni.720 Fh iir n
$ 167.282 $ 16'; 172
$.t 19 013 $322. l f,o
$ 72 t J H;6 $616.952 32 g?7 h33
$2,3.ig 43M n
e 2 930 rct.e.os 16x.531 157.861 275.256 252.715 Odat Inminienu.
7f,65 7.59x S t..o a
.'.'31
. 161 7.788 8 oe;6 12.119
_l 2f,xx Tot al opi r at uig 1:es enni,
$232I13 $219_211
$525.362 $ 183_.077
$ 1.011.771 fxx2.355 Current Asset 3
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y t ip. r a t ing 1. y.c n-es
.eniporan (,a h InWmenu.
M3 l'u rch.e.ed Fntl a nd E nri g s
$ 71.713 $ 4.6.89x
$ 180.606 $ 152.762
$ 319.Ito $271.25 8 Accounu iteren able.
91.988 97'Gli
( >pri a t ion s 11.139 3.i t x2 xx. t l2 78 556 171.83x 11(365 Materials and Supphes.
110.593
!*i.329 Wini. n.uu n I Ts. ll H) 13.3 no.
X LTio 2ti. t x9 5., 185 91.80s iither' 5 '7 x"~
1 tx3 1 ver c sat n.o.
I x J2'ni 17 J,o7 39 011 37.2h 79.829 72,7:
h....r n. T.ncs
$ 228.121 3 205.279 t 'u r e rs t.
6.380 13 > o" "7.238 2x.259 42.608 3x.511 l)cft rred I A bita.
$ 22.527 18.80s
! i. f r e I 3.:365 (951) 6.698 t o 015 12.167 12.079 T..tal h b s'*M
$'M ill19 tra c-ina nt T.n Fri hi Admt ment:.
123 5.035 7,x51 8.197 17.2L 18.059
< > t hi r Ta u 19 5xx 1991 13.071
.II.69:t x i.7t o 79.506 cal' ITAL. ANil I.l Altil.lTIES I or al a y. rain,g i N p. n ses
$136 iia $ 173.o60
$ 121.172 $3x1.579
$ x11.936 $691 ft[a; Capital St.wk and Itetained Earnings l'referri-I Stoi k.
59.185 59.185
< >pri ai n.g i ncon,.
$ 16.299 $ ints! $ 1oa.xu $ lo s.19x
$ 19ei.835 $190.109 I' reference St4rk.
175 000 175 m i All n an c for other l'u n 1, l ' wd liuring
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ii.n.ti m o n 2.178 890 3.766 1.6x 6.039 3.1 x 1 C"nvertible l' reference Stark 10.370 12.299 C"""""" S L' w k.
6t o.39 3 595.72x
% t t 't her In. onn and I h.lui t n.n.
129 175 959 16x 1.23o 530 I'remium on 1* referred St4wk 157 157 in. orne lh fo,e Int. r.
t Charyn
$ 19 206 $ 17.216
$10x615 $ lt wi 650 $ 208.151 $ 19 8,713 IWinni Earnings.
327.318 294.058 Int.re ti b rg n 21.328 20.161 12.7o2 lo.2e,9 85.6eil 79.065 T ho a ra r for it..rrow ed I und,
3I 181 121 31 336.123 l'. d lin ring (i.r-t r uction t 'i n h t 2 019 808 3.069 1.529 5.120 2 891 le ng-Term ik lit
'. t I ra om.
$ 29 897 $ 27.890
$ eK982 $ 67.910
$ 12:t 613 $ 11x.539 Mortgage Itonds
$ 1.172. 396
$1Ito.2r6 l ia i h n.1, h e fer ri.i an able 39,987 53.293 gq[
Taxes Accrued.
23.895 27.li;o
%d Interest Accruni and Ihvidends IWlarn!
58.657 50.056 a.m,
I "n d.erm ikbt estimated to be retirnt
'a* U S A l.ES Vol.I'51ES t'l h.,ownbi withm one year 32.323 11,493 b ).
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,d %. l 1 3.d99 t.638 x.327 7,7 x3 16.711 15NH;
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4 Iilli 21.112 16e;30 55.602 r,o.333 89.757 83.35x 70 an M lb.
101 112 1,263 1, sos 2.177 2.351 8 1 M 1.119
$ 190.197 Ikferred Inmtment Tax Crnhts.
96.178
$ 82.145
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<s Ik ferred Income Tases.
$ 32 S u;
$ 20 069 T.a Q
Other Credits.
$ yt.219 7.78:
r%~.w f7 Total Capital and I.iabilities.
$2.6x6.151
$2.567.119 mu ei f%
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