ML19309C400
| ML19309C400 | |
| Person / Time | |
|---|---|
| Site: | Millstone  |
| Issue date: | 04/01/1980 |
| From: | Oconnor L NORTHEAST UTILITIES |
| To: | Saltzman J Office of Nuclear Reactor Regulation |
| Shared Package | |
| ML19309C401 | List: |
| References | |
| NUDOCS 8004080557 | |
| Download: ML19309C400 (1) | |
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NtNITDMIAST LITHJTIES
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i April 1, 1980 i'
LEONARD 4 OCONNOR WCr Pets @tNf AND Tatasungn j
Mr. Jerome Saltzman, Chief Antitrust & Indemnity Group l
Office of Nuclear Reactor Pegulation "nited States Nuclear Regulatory Commission i
Washington, D.
C.
20555 i
Dear Mr. Saltzman:
This is in response to your letter to me under date of March 5, 3
in which you raised questions as to the adequacies of Northeast Utilities' cash flows to meet possible retrospective premium payments.
I discussed this matter with Robert Wood of your staff on March 20 and told him I would be sending this letter of response and explanation.
The problem. lies in differences between the budgeted cash flows.for 1979 which were transmitted to you on June 15, 1979 and the actual cash flows for 1979 which are now available.
I am enclosing copies of the annual reports for 1979 for Northeast Utilities' major
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operating subsidiaries, The Connecticut Light and' Power Company, The Hartford Electric Light Company, and Western Massachusetts Electric Company.
I have indicated on page "3" of each report the cash flows from operations, which are exactly comparable to the figures accepted by your office for 1978.
The 1979 figures are summarized as follows:
i The Connecticut Light and Power Company S 51,456,000 The Hartford Electric Light Company 29,738,000 Western Massach'usetts Electric Company 19,606,000
$100,800,000 l
It would appear that the total of the cash flows for Northeast j
Utilities for 1979, on an actual basis, were adequate to meet the j
requirements of the Regulations.
There are several factors which.
j taken together accounted for the difference between the budget figures l
and the actual figures, but the most significant one was an $86 million-(
rate increase received by CL&P and HELCO in mid-1979.
If you have any questions on this matter, please do not hesitate
_to call me.
If I do not hear from you, I will assume the enclosed data resolves the problem and we will proceed to prepare data for 1980, to be filed on June 15, 1980.
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b l-Very truly yours,
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