|
---|
Category:CORRESPONDENCE-LETTERS
MONTHYEARNPL-99-0564, Forwards Response to NRC Request During 990720 Meeting,To Provide Addl Details to Several Questions Re Amend Currently Under Review by Staff Pertaining to CR Habitability1999-10-19019 October 1999 Forwards Response to NRC Request During 990720 Meeting,To Provide Addl Details to Several Questions Re Amend Currently Under Review by Staff Pertaining to CR Habitability ML20217A5911999-09-30030 September 1999 Advises of NRC Plans for Future Insp Activities at Facility for Licensee to Have Opportunity to Prepare for Insps & to Provide NRC with Feedback on Any Planned Insps Which May Conflict with Plant Activities.Plant Issues Matrix Encl 05000266/LER-1999-007, Forwards LER 99-007-00 for Point Beach Nuclear Plant,Unit 1. Condition Would Be Outside App R Design Basis for Plant.New Commitments within Rept Indicated in Italics1999-09-30030 September 1999 Forwards LER 99-007-00 for Point Beach Nuclear Plant,Unit 1. Condition Would Be Outside App R Design Basis for Plant.New Commitments within Rept Indicated in Italics ML20212J7431999-09-30030 September 1999 Forwards Insp Repts 50-266/99-15 & 50-301/99-15 on 990830- 0903.No Violations Noted.Inspectors Concluded That Util Licensed Operator Requalification Training Program Satisfactorily Implemented NPL-99-0555, Discusses Rev 1,suppl 1 to GL 92-01, Reactor Vessel Structural Integrity. Calculation That Provides Evaluation of New Surveillance Data for Assessing Integrity of Unit 1 Reactor Vessel1999-09-29029 September 1999 Discusses Rev 1,suppl 1 to GL 92-01, Reactor Vessel Structural Integrity. Calculation That Provides Evaluation of New Surveillance Data for Assessing Integrity of Unit 1 Reactor Vessel ML20212K7651999-09-29029 September 1999 Forwards Insp Repts 50-266/99-13 & 50-301/99-13 on 990714-0830.No Violations Noted.Operators Responded Well to Problems with Unit 1 Instrument Air Leak & Unit 2 Turbine Governor Valve Position Fluctuation ML20212D5771999-09-15015 September 1999 Discusses Review of Response to GL 88-20,suppl 4,requesting All Licensees to Perform Ipeee.Ser,Ter & Supplemental TER Encl ML20211Q6451999-09-0808 September 1999 Forwards Operator Licensing Exam Repts 50-266/99-301OL & 50-301/99-301OL for Exams Conducted on 990726-0802 at Point Beach Npp.All Nine Applicants Passed All Sections of Exam ML20211Q4171999-09-0606 September 1999 Responds to VA Kaminskas by Informing That NRC Tentatively Scheduled Initial Licensing Exam for Operator License Applicants During Weeks of 001016 & 23.Validation of Exam Will Occur at Station During Wk of 000925 05000266/LER-1999-004, Forwards LER 99-004-01,re Fuel Oil Transfer Pump Cable in AFW Pump Room Being Outside App R Design Basis.Suppl to LER Provides Corrective Actions to Address Concerns Re Fire Disrupting Electrical Power to Fuel Oil Transfer Pump1999-09-0202 September 1999 Forwards LER 99-004-01,re Fuel Oil Transfer Pump Cable in AFW Pump Room Being Outside App R Design Basis.Suppl to LER Provides Corrective Actions to Address Concerns Re Fire Disrupting Electrical Power to Fuel Oil Transfer Pump ML20211K5261999-08-31031 August 1999 Forwards Insp Repts 50-266/99-14 & 50-301/99-14 on 990726- 30.Areas Examined within Secutity Program Identified in Rept.No Violations Noted ML20211F6941999-08-27027 August 1999 Provides Individual Exam Results for Applicants That Took Initial License Exam in July & August of 1999.Completed ES-501-2,copy of Each Individual License,Ol Exam Rept, ES-303-1,ES-303-2 & ES-401-8 Encl.Without Encl NPL-99-0473, Informs of Change Being Made to Plan Third 10-year Interval ISI Long Term Plan.Change Extends Interval from Current End Date of 001130 to 020831,due to Operating Cycle Being Increased from 12 to 18 Months1999-08-27027 August 1999 Informs of Change Being Made to Plan Third 10-year Interval ISI Long Term Plan.Change Extends Interval from Current End Date of 001130 to 020831,due to Operating Cycle Being Increased from 12 to 18 Months ML20211E8791999-08-24024 August 1999 Discusses Completion of Licensing Action for GL 96-01, Testing of Safety-Related Logic Circuits, for Point Beach Nuclear Power Plant,Units 1 & 2.Licensees Provided Requested Info & Responses Required by GL 96-01 ML20211F1501999-08-24024 August 1999 Submits Summary of Meeting Held on 990729,in Region III Office with Util Re Proposed Revs to Plant Emergency Action Level Criteria Used in Classifying Emergencies & Results of Recent Improvement Initiatives in Emergency Preparedness 05000266/LER-1999-006, Forwards LER 99-006-00 Which Describes Discovery That Postulated Fire in Central Zone of Primary Auxiliary Bldg Could Result in Spurious Operation of Pressurizer Porv. New Commitments within Rept Are Indicated in Italics1999-08-19019 August 1999 Forwards LER 99-006-00 Which Describes Discovery That Postulated Fire in Central Zone of Primary Auxiliary Bldg Could Result in Spurious Operation of Pressurizer Porv. New Commitments within Rept Are Indicated in Italics NPL-99-0477, Forwards Revised Procedures to Point Beach Nuclear Plant Epips.Revised Procedures Dtd 990723,should Be Filed in NRC Copies of Manual IAW Attached Instructions1999-08-18018 August 1999 Forwards Revised Procedures to Point Beach Nuclear Plant Epips.Revised Procedures Dtd 990723,should Be Filed in NRC Copies of Manual IAW Attached Instructions NPL-99-0426, Requests Relief from Section II of ASME B&PV Code, Nuclear Vessels, 1965 Edition,No Addenda.Detailed Info Attached1999-08-16016 August 1999 Requests Relief from Section II of ASME B&PV Code, Nuclear Vessels, 1965 Edition,No Addenda.Detailed Info Attached ML20210L9141999-08-0404 August 1999 Informs That Versions of Info Re WCAP-14787,submitted in 990622 Application for Amend,Marked Proprietary,Will Be Withheld from Public Disclosure,Per 10CFR2.790(b)(5) & Section 103(b) of AEA of 1954,as Amended ML20210K5221999-08-0404 August 1999 Discusses Point Beach Nuclear Plant,Units 1 & 2 Response to Request for Info in GL 92-01,Rev 1,Suppl 1, Rv Structural Integrity NPL-99-0436, Forwards fitness-for-duty Performance Data for six-month Period Ending 9906301999-08-0202 August 1999 Forwards fitness-for-duty Performance Data for six-month Period Ending 990630 ML20210G6011999-07-30030 July 1999 Discusses 990415 Complaint OSHA Received from Employee of Wisconsin Electric Power Co Alleging That Employee Received Lower Performance Appraisal for 1998 Because Employee Raised Safety Concerns While Performing Duties at Point Beach NPL-99-0406, Provides Response to NRC GL 99-02, Lab Testing of Nuclear- Grade Activated Charcoal1999-07-29029 July 1999 Provides Response to NRC GL 99-02, Lab Testing of Nuclear- Grade Activated Charcoal ML20210H0211999-07-28028 July 1999 Forwards Insp Repts 50-266/99-09 & 50-301/99-09 on 990528-0713.Two Violations of NRC Requirements Occurred & Being Treated as non-cited Violations,Consistent with App C of Enforcement Policy ML20210G2441999-07-26026 July 1999 Discusses 990714 Meeting with PRA Staff to Discuss Initiatives in Risk Area & to Establish Dialog Between SRAs & PRA Staff NPL-99-0408, Forwards Pbnps,Units 1 & 2 Plant Simulation Four-Yr Rept, IAW 10CFR55.45(b)(5)(ii).Rept Describes Certification Program Tests Conducted from 1996-1999,identifies Test Discrepancies Still Outstanding & Schedules for 2000-20031999-07-15015 July 1999 Forwards Pbnps,Units 1 & 2 Plant Simulation Four-Yr Rept, IAW 10CFR55.45(b)(5)(ii).Rept Describes Certification Program Tests Conducted from 1996-1999,identifies Test Discrepancies Still Outstanding & Schedules for 2000-2003 ML20209H5471999-07-14014 July 1999 Forwards Insp Repts 50-266/99-12 & 50-301/99-12 on 990614-18.One Violation Noted,But Being Treated as non-cited violation.Long-term MOV Program Not Sufficiently Established to close-out NRC Review of Program,Per GL 89-10 NPL-99-0395, Forwards Partial Response to NRC 990512 RAI Re TS Change 204 Re Control Room Habitability.Meeting Is Planned with NRC to Discuss Issues Related to Control Room & Primary Auxiliary Bldg Ventilation Sys Modifications1999-07-12012 July 1999 Forwards Partial Response to NRC 990512 RAI Re TS Change 204 Re Control Room Habitability.Meeting Is Planned with NRC to Discuss Issues Related to Control Room & Primary Auxiliary Bldg Ventilation Sys Modifications NPL-99-0390, Projects Listed Major near-term License Amend Requests That Could Be Expected to Impact Staff Resources Into Fiscal Years 2000 & 2001,in Response to Administrative Ltr 99-021999-07-0808 July 1999 Projects Listed Major near-term License Amend Requests That Could Be Expected to Impact Staff Resources Into Fiscal Years 2000 & 2001,in Response to Administrative Ltr 99-02 NPL-99-0388, Forwards MORs for June 1999 & Revised MORs for May 1999 for Pbnps,Units 1 & 21999-07-0707 July 1999 Forwards MORs for June 1999 & Revised MORs for May 1999 for Pbnps,Units 1 & 2 NPL-99-0381, Submits Response to NRC GL 98-01, Y2K Readiness of Computer Sys at Nuclear Power Plants. GL 98-01 Requested Response on Status of Facility Y2K Readiness by 990701.Disclosure Encl1999-06-30030 June 1999 Submits Response to NRC GL 98-01, Y2K Readiness of Computer Sys at Nuclear Power Plants. GL 98-01 Requested Response on Status of Facility Y2K Readiness by 990701.Disclosure Encl ML20196J4161999-06-30030 June 1999 Discusses Relief Requests Submitted by Wisconsin Electric on 980930 for Pump & Valve Inservice Testing Program,Rev 5. Safety Evaluation Authorizing Relief Requests VRR-01,VRR-02, PRR-01 & ROJ-16 Encl NPL-99-0379, Documents Telcon with Hg Ashar of NRC Re Licensee Intentions & Basis for Reselection of Control Tendons in Pbnps Containment Structures.Plants Are Currently Completing 28th Year Tendon Surveillance During Summer of 19991999-06-29029 June 1999 Documents Telcon with Hg Ashar of NRC Re Licensee Intentions & Basis for Reselection of Control Tendons in Pbnps Containment Structures.Plants Are Currently Completing 28th Year Tendon Surveillance During Summer of 1999 NPL-99-0376, Forwards Errata to Pbnp 1998 Annual Monitoring Rept, Originally Submitted by Ltr Dtd 990427.List of Corrections, Provided1999-06-28028 June 1999 Forwards Errata to Pbnp 1998 Annual Monitoring Rept, Originally Submitted by Ltr Dtd 990427.List of Corrections, Provided NPL-99-0353, Forwards June 1999 Rev to FSAR for Point Beach Nuclear Plant,Units 1 & 2, IAW Requirements of 10CFR50.71(e).Each Package Contains Revised FSAR Pages That Are to Be Inserted IAW Instructions1999-06-23023 June 1999 Forwards June 1999 Rev to FSAR for Point Beach Nuclear Plant,Units 1 & 2, IAW Requirements of 10CFR50.71(e).Each Package Contains Revised FSAR Pages That Are to Be Inserted IAW Instructions ML20196D4931999-06-18018 June 1999 Forwards Insp Repts 50-266/99-08 & 50-301/99-08 on 990411- 0527.No Violations Noted.Operator Crew Response to Equipment Induced Challenges Generally Good.Handling of Steam Plume in Unit 1 Turbine Bldg Particularly Good ML20195J9471999-06-16016 June 1999 Discusses Ltr from NRC ,re Arrangements Made to Finalized Initial Licensed Operator Exam to Be Administered at Point Beach Nuclear Plant During Week of 990726 ML20196A2931999-06-16016 June 1999 Ack Receipt of Transmitting Changes to Listed Sections of Point Beach Nuclear Plant Security Plan & ISFSI Security Plan,Submitted IAW 10CFR50.54(p).No NRC Approval Is Required Since Changes Do Not Decrease Effectiveness ML20195J9251999-06-14014 June 1999 Discusses 990610 Telcon Between Wp Walker & D Mcneil Re Arrangements for NRC to Inspect Licensed Operator Requalification Program at Point Beach Nuclear Power Plant for Week of 990816 05000266/LER-1999-005, Forwards LER 99-005-00,re Failure of Shell of 4B FW Heater Which Resulted in Significant Steam Leak & Manual Trip. New Commitments within Rept Are Indicated in Italics1999-06-11011 June 1999 Forwards LER 99-005-00,re Failure of Shell of 4B FW Heater Which Resulted in Significant Steam Leak & Manual Trip. New Commitments within Rept Are Indicated in Italics NPL-99-0336, Forwards Unit 2 Refueling 23 Inservice Insp Summary Rept for Form NIS-1, IAW ASME Section Xi,Subsection IWA-62301999-06-10010 June 1999 Forwards Unit 2 Refueling 23 Inservice Insp Summary Rept for Form NIS-1, IAW ASME Section Xi,Subsection IWA-6230 NPL-99-0330, Forwards Revs to Pbnp Security Plan Sections 2.1,2.4,3.1, Figures A,D & T & Pbnp ISFSI Security Plan Section 2.0, Dtd 990604.Plans Withheld1999-06-0404 June 1999 Forwards Revs to Pbnp Security Plan Sections 2.1,2.4,3.1, Figures A,D & T & Pbnp ISFSI Security Plan Section 2.0, Dtd 990604.Plans Withheld 05000301/LER-1999-003, Forwards LER 99-003-00 for Point Beach Nuclear Plant,Unit 2. Rept Is Provided in Accordance with 10CFR50.73(a)(2)(i)(B), as Any Operation or Condition Prohibited by Plant Tech Specs1999-05-28028 May 1999 Forwards LER 99-003-00 for Point Beach Nuclear Plant,Unit 2. Rept Is Provided in Accordance with 10CFR50.73(a)(2)(i)(B), as Any Operation or Condition Prohibited by Plant Tech Specs NPL-99-0319, Provides Main Control Board Wiring Separation Project Status Update Rept for Pbnps,Units 1 & 21999-05-28028 May 1999 Provides Main Control Board Wiring Separation Project Status Update Rept for Pbnps,Units 1 & 2 ML20206T3691999-05-17017 May 1999 Ltr Contract,Task Order 242 Entitled, Review Point Beach 1 & 2 Conversion of Current TS for Electrical Power Systems to Improved TS Based on Standard TS, Under Contract NRC-03-95-026 ML20206N5561999-05-13013 May 1999 Informs That NRC Office of Nuclear Reactor Regulation Reorganized Effective 990328.As Part of Reorganization,Div of Licensing Project Mgt Created.Cm Craig Will Be Section Chief for Point Beach Npp.Organization Chart Encl ML20206P2551999-05-12012 May 1999 Forwards Handout Provided to NRC by Wisconsin Electric at 990504 Meeting Which Discussed Several Recent Operational Issues & Results of Recent Improvement Initiatives in Engineering ML20206N5331999-05-12012 May 1999 Forwards RAI Re & Suppl by Oral Presentation During 980604 Meeting,Requesting Amend for Plant,Units 1 & 2 to Revise TSs 15.3.12 & 15.4.11 ML20196F3211999-05-11011 May 1999 Requests Proprietary WCAP-14787, W Revised Thermal Design Procedure Instrument Uncertainty Methodology for Wepc Point Beach Units 1 & 2 (Fuel Upgrade & Uprate to 1656 Mwt-NSSS Power), Be Withheld from Public Disclosure ML20206K0391999-05-0707 May 1999 Forwards Insp Repts 50-266/99-06 & 50-301/99-06 on 990223- 0410.Ten Violations of NRC Requirements Occurred & Being Treated as non-cited Violations,Consistent with App C of Enforcement Policy 1999-09-08
[Table view] Category:INCOMING CORRESPONDENCE
MONTHYEARNPL-99-0564, Forwards Response to NRC Request During 990720 Meeting,To Provide Addl Details to Several Questions Re Amend Currently Under Review by Staff Pertaining to CR Habitability1999-10-19019 October 1999 Forwards Response to NRC Request During 990720 Meeting,To Provide Addl Details to Several Questions Re Amend Currently Under Review by Staff Pertaining to CR Habitability 05000266/LER-1999-007, Forwards LER 99-007-00 for Point Beach Nuclear Plant,Unit 1. Condition Would Be Outside App R Design Basis for Plant.New Commitments within Rept Indicated in Italics1999-09-30030 September 1999 Forwards LER 99-007-00 for Point Beach Nuclear Plant,Unit 1. Condition Would Be Outside App R Design Basis for Plant.New Commitments within Rept Indicated in Italics NPL-99-0555, Discusses Rev 1,suppl 1 to GL 92-01, Reactor Vessel Structural Integrity. Calculation That Provides Evaluation of New Surveillance Data for Assessing Integrity of Unit 1 Reactor Vessel1999-09-29029 September 1999 Discusses Rev 1,suppl 1 to GL 92-01, Reactor Vessel Structural Integrity. Calculation That Provides Evaluation of New Surveillance Data for Assessing Integrity of Unit 1 Reactor Vessel 05000266/LER-1999-004, Forwards LER 99-004-01,re Fuel Oil Transfer Pump Cable in AFW Pump Room Being Outside App R Design Basis.Suppl to LER Provides Corrective Actions to Address Concerns Re Fire Disrupting Electrical Power to Fuel Oil Transfer Pump1999-09-0202 September 1999 Forwards LER 99-004-01,re Fuel Oil Transfer Pump Cable in AFW Pump Room Being Outside App R Design Basis.Suppl to LER Provides Corrective Actions to Address Concerns Re Fire Disrupting Electrical Power to Fuel Oil Transfer Pump NPL-99-0473, Informs of Change Being Made to Plan Third 10-year Interval ISI Long Term Plan.Change Extends Interval from Current End Date of 001130 to 020831,due to Operating Cycle Being Increased from 12 to 18 Months1999-08-27027 August 1999 Informs of Change Being Made to Plan Third 10-year Interval ISI Long Term Plan.Change Extends Interval from Current End Date of 001130 to 020831,due to Operating Cycle Being Increased from 12 to 18 Months 05000266/LER-1999-006, Forwards LER 99-006-00 Which Describes Discovery That Postulated Fire in Central Zone of Primary Auxiliary Bldg Could Result in Spurious Operation of Pressurizer Porv. New Commitments within Rept Are Indicated in Italics1999-08-19019 August 1999 Forwards LER 99-006-00 Which Describes Discovery That Postulated Fire in Central Zone of Primary Auxiliary Bldg Could Result in Spurious Operation of Pressurizer Porv. New Commitments within Rept Are Indicated in Italics NPL-99-0477, Forwards Revised Procedures to Point Beach Nuclear Plant Epips.Revised Procedures Dtd 990723,should Be Filed in NRC Copies of Manual IAW Attached Instructions1999-08-18018 August 1999 Forwards Revised Procedures to Point Beach Nuclear Plant Epips.Revised Procedures Dtd 990723,should Be Filed in NRC Copies of Manual IAW Attached Instructions NPL-99-0426, Requests Relief from Section II of ASME B&PV Code, Nuclear Vessels, 1965 Edition,No Addenda.Detailed Info Attached1999-08-16016 August 1999 Requests Relief from Section II of ASME B&PV Code, Nuclear Vessels, 1965 Edition,No Addenda.Detailed Info Attached NPL-99-0436, Forwards fitness-for-duty Performance Data for six-month Period Ending 9906301999-08-0202 August 1999 Forwards fitness-for-duty Performance Data for six-month Period Ending 990630 NPL-99-0406, Provides Response to NRC GL 99-02, Lab Testing of Nuclear- Grade Activated Charcoal1999-07-29029 July 1999 Provides Response to NRC GL 99-02, Lab Testing of Nuclear- Grade Activated Charcoal NPL-99-0408, Forwards Pbnps,Units 1 & 2 Plant Simulation Four-Yr Rept, IAW 10CFR55.45(b)(5)(ii).Rept Describes Certification Program Tests Conducted from 1996-1999,identifies Test Discrepancies Still Outstanding & Schedules for 2000-20031999-07-15015 July 1999 Forwards Pbnps,Units 1 & 2 Plant Simulation Four-Yr Rept, IAW 10CFR55.45(b)(5)(ii).Rept Describes Certification Program Tests Conducted from 1996-1999,identifies Test Discrepancies Still Outstanding & Schedules for 2000-2003 NPL-99-0395, Forwards Partial Response to NRC 990512 RAI Re TS Change 204 Re Control Room Habitability.Meeting Is Planned with NRC to Discuss Issues Related to Control Room & Primary Auxiliary Bldg Ventilation Sys Modifications1999-07-12012 July 1999 Forwards Partial Response to NRC 990512 RAI Re TS Change 204 Re Control Room Habitability.Meeting Is Planned with NRC to Discuss Issues Related to Control Room & Primary Auxiliary Bldg Ventilation Sys Modifications NPL-99-0390, Projects Listed Major near-term License Amend Requests That Could Be Expected to Impact Staff Resources Into Fiscal Years 2000 & 2001,in Response to Administrative Ltr 99-021999-07-0808 July 1999 Projects Listed Major near-term License Amend Requests That Could Be Expected to Impact Staff Resources Into Fiscal Years 2000 & 2001,in Response to Administrative Ltr 99-02 NPL-99-0388, Forwards MORs for June 1999 & Revised MORs for May 1999 for Pbnps,Units 1 & 21999-07-0707 July 1999 Forwards MORs for June 1999 & Revised MORs for May 1999 for Pbnps,Units 1 & 2 NPL-99-0381, Submits Response to NRC GL 98-01, Y2K Readiness of Computer Sys at Nuclear Power Plants. GL 98-01 Requested Response on Status of Facility Y2K Readiness by 990701.Disclosure Encl1999-06-30030 June 1999 Submits Response to NRC GL 98-01, Y2K Readiness of Computer Sys at Nuclear Power Plants. GL 98-01 Requested Response on Status of Facility Y2K Readiness by 990701.Disclosure Encl NPL-99-0379, Documents Telcon with Hg Ashar of NRC Re Licensee Intentions & Basis for Reselection of Control Tendons in Pbnps Containment Structures.Plants Are Currently Completing 28th Year Tendon Surveillance During Summer of 19991999-06-29029 June 1999 Documents Telcon with Hg Ashar of NRC Re Licensee Intentions & Basis for Reselection of Control Tendons in Pbnps Containment Structures.Plants Are Currently Completing 28th Year Tendon Surveillance During Summer of 1999 NPL-99-0376, Forwards Errata to Pbnp 1998 Annual Monitoring Rept, Originally Submitted by Ltr Dtd 990427.List of Corrections, Provided1999-06-28028 June 1999 Forwards Errata to Pbnp 1998 Annual Monitoring Rept, Originally Submitted by Ltr Dtd 990427.List of Corrections, Provided NPL-99-0353, Forwards June 1999 Rev to FSAR for Point Beach Nuclear Plant,Units 1 & 2, IAW Requirements of 10CFR50.71(e).Each Package Contains Revised FSAR Pages That Are to Be Inserted IAW Instructions1999-06-23023 June 1999 Forwards June 1999 Rev to FSAR for Point Beach Nuclear Plant,Units 1 & 2, IAW Requirements of 10CFR50.71(e).Each Package Contains Revised FSAR Pages That Are to Be Inserted IAW Instructions 05000266/LER-1999-005, Forwards LER 99-005-00,re Failure of Shell of 4B FW Heater Which Resulted in Significant Steam Leak & Manual Trip. New Commitments within Rept Are Indicated in Italics1999-06-11011 June 1999 Forwards LER 99-005-00,re Failure of Shell of 4B FW Heater Which Resulted in Significant Steam Leak & Manual Trip. New Commitments within Rept Are Indicated in Italics NPL-99-0336, Forwards Unit 2 Refueling 23 Inservice Insp Summary Rept for Form NIS-1, IAW ASME Section Xi,Subsection IWA-62301999-06-10010 June 1999 Forwards Unit 2 Refueling 23 Inservice Insp Summary Rept for Form NIS-1, IAW ASME Section Xi,Subsection IWA-6230 NPL-99-0330, Forwards Revs to Pbnp Security Plan Sections 2.1,2.4,3.1, Figures A,D & T & Pbnp ISFSI Security Plan Section 2.0, Dtd 990604.Plans Withheld1999-06-0404 June 1999 Forwards Revs to Pbnp Security Plan Sections 2.1,2.4,3.1, Figures A,D & T & Pbnp ISFSI Security Plan Section 2.0, Dtd 990604.Plans Withheld NPL-99-0319, Provides Main Control Board Wiring Separation Project Status Update Rept for Pbnps,Units 1 & 21999-05-28028 May 1999 Provides Main Control Board Wiring Separation Project Status Update Rept for Pbnps,Units 1 & 2 05000301/LER-1999-003, Forwards LER 99-003-00 for Point Beach Nuclear Plant,Unit 2. Rept Is Provided in Accordance with 10CFR50.73(a)(2)(i)(B), as Any Operation or Condition Prohibited by Plant Tech Specs1999-05-28028 May 1999 Forwards LER 99-003-00 for Point Beach Nuclear Plant,Unit 2. Rept Is Provided in Accordance with 10CFR50.73(a)(2)(i)(B), as Any Operation or Condition Prohibited by Plant Tech Specs ML20196F3211999-05-11011 May 1999 Requests Proprietary WCAP-14787, W Revised Thermal Design Procedure Instrument Uncertainty Methodology for Wepc Point Beach Units 1 & 2 (Fuel Upgrade & Uprate to 1656 Mwt-NSSS Power), Be Withheld from Public Disclosure NPL-99-0242, Submits Commitment Schedule Update,Per GL 95-07 Re Pressure Locking & Thermal Binding of safety-related power-operated Gate Valves.Unit 1 Block Valve Replacement Will Be Performed During Upcoming 1999 U1R25 Outage1999-04-27027 April 1999 Submits Commitment Schedule Update,Per GL 95-07 Re Pressure Locking & Thermal Binding of safety-related power-operated Gate Valves.Unit 1 Block Valve Replacement Will Be Performed During Upcoming 1999 U1R25 Outage NPL-99-0246, Forwards 1998 Annual Monitoring Rept, for Pbnps Units 1 & 2.Revised ODCM & Environ Manual Are Encl1999-04-27027 April 1999 Forwards 1998 Annual Monitoring Rept, for Pbnps Units 1 & 2.Revised ODCM & Environ Manual Are Encl ML20206C2361999-04-22022 April 1999 Forwards 1998 Annual Rept to Stockholders of Wepc Which Includes Certified Financial Statements,Per 10CFR50.71 NPL-99-0230, Submits Clarification of Which Portions of OMa-1988 Parts 6 & 10 Are Being Utilized at Pbnp for IST Program Implementation & Cold SD & RO Justifications,Per 990218 Telcon with NRC1999-04-19019 April 1999 Submits Clarification of Which Portions of OMa-1988 Parts 6 & 10 Are Being Utilized at Pbnp for IST Program Implementation & Cold SD & RO Justifications,Per 990218 Telcon with NRC 05000301/LER-1999-002, Forwards LER 99-002-00 Re Discovery That Cable Necessary to Provide Plant Parameter Required to Be Monitored for App R Safe SD Location Was Not Routed Independent of Appropriate Fire Zone.Commitments in Rept Indicated in Italic1999-04-16016 April 1999 Forwards LER 99-002-00 Re Discovery That Cable Necessary to Provide Plant Parameter Required to Be Monitored for App R Safe SD Location Was Not Routed Independent of Appropriate Fire Zone.Commitments in Rept Indicated in Italics NPL-99-0219, Provides Final Notification of Change to Commitments Documented in LER 266/97-022-00 Re Electrical Short Circuits During CR Fire1999-04-15015 April 1999 Provides Final Notification of Change to Commitments Documented in LER 266/97-022-00 Re Electrical Short Circuits During CR Fire 05000266/LER-1999-001, Forwards LER 99-001-01,describing Discovery That Common Min Recirculation Flow Line Return to RWST for Safety Injection & Containment Spray Pumps Was Partially Frozen & Would Not Pass Flow.New Commitments Indicated in Italics i1999-04-0808 April 1999 Forwards LER 99-001-01,describing Discovery That Common Min Recirculation Flow Line Return to RWST for Safety Injection & Containment Spray Pumps Was Partially Frozen & Would Not Pass Flow.New Commitments Indicated in Italics in Rept NPL-99-0174, Confirms Completion of Requested Actions in Accordance with Required Response of GL 96-01 for Unit 2.Confirmation of Completion for Unit 1 Was Provided in Ltr Npl 98-0591,dtd 9807141999-03-30030 March 1999 Confirms Completion of Requested Actions in Accordance with Required Response of GL 96-01 for Unit 2.Confirmation of Completion for Unit 1 Was Provided in Ltr Npl 98-0591,dtd 980714 ML20206B8231999-03-30030 March 1999 Forwards Final Exercise Rept for Biennial Radiological Emergency Preparedness Exercise Conducted on 981103 for Point Beach Power Plant.One Deficiency Identified for Manitowoc County.County Corrected Deficiency Immediately NPL-99-0177, Forwards Decommissioning Funding Status Info for Pbnp,Units 1 & 2,per 10CFR50.751999-03-30030 March 1999 Forwards Decommissioning Funding Status Info for Pbnp,Units 1 & 2,per 10CFR50.75 05000301/LER-1999-001, Forwards LER 99-001-00,re Loss of Safeguards Electrical Bus During Refueling Surveillance Testing Which Resulted in Temporary Unavailability of One Train of Decay Heat Removal. Commitments Made by Util Are Identified in Italics1999-03-10010 March 1999 Forwards LER 99-001-00,re Loss of Safeguards Electrical Bus During Refueling Surveillance Testing Which Resulted in Temporary Unavailability of One Train of Decay Heat Removal. Commitments Made by Util Are Identified in Italics NPL-99-0122, Forwards Relief Requests RR-1-19 & RR-2-25,requesting Relief from Section XI of ASME B&PV Code, Rules for Inservice Exam of NPP Components, 1986 Edition,No Addenda.Requirements for Relief Apply to Third ten-yr ISI Interval for Units 1 &1999-03-0303 March 1999 Forwards Relief Requests RR-1-19 & RR-2-25,requesting Relief from Section XI of ASME B&PV Code, Rules for Inservice Exam of NPP Components, 1986 Edition,No Addenda.Requirements for Relief Apply to Third ten-yr ISI Interval for Units 1 & 2 NPL-99-0111, Informs NRC That IAW Provisions of ASME Boiler & Pressure Code,Section Xi,Paragraphs IWA-2430(d) & IWA-2430(e),WEPC Has Extended Third 10 Yr Interval for Pressure Testing Program at Pbnp,Unit 1 by 21 Months1999-03-0303 March 1999 Informs NRC That IAW Provisions of ASME Boiler & Pressure Code,Section Xi,Paragraphs IWA-2430(d) & IWA-2430(e),WEPC Has Extended Third 10 Yr Interval for Pressure Testing Program at Pbnp,Unit 1 by 21 Months NPL-99-0116, Forwards Proprietary & non-proprietary Revised Point Beach Nuclear Plant Emergency Plan IAW 10CFR50.54(q).Proprietary Plan Withheld1999-03-0101 March 1999 Forwards Proprietary & non-proprietary Revised Point Beach Nuclear Plant Emergency Plan IAW 10CFR50.54(q).Proprietary Plan Withheld NPL-99-0115, Forwards Proprietary & non-proprietary Revised EPIPs to Point Beach Nuclear Plant,Units 1 & 21999-03-0101 March 1999 Forwards Proprietary & non-proprietary Revised EPIPs to Point Beach Nuclear Plant,Units 1 & 2 NPL-99-0114, Provides Results of Wepcs Insp,Replacement & Mechanical Testing of Reactor Internals Baffle Former Bolts During Recent Point Beach Refueling Outage1999-02-25025 February 1999 Provides Results of Wepcs Insp,Replacement & Mechanical Testing of Reactor Internals Baffle Former Bolts During Recent Point Beach Refueling Outage NPL-99-0086, Documents Commitment Change Which Is to Discontinue Actions Contained in Util Ltr Dtd 970613,after NRC Approval of LAR & Lower Containment Leak Rate Limit Is Implemented. Change Is Acceptable IAW Applicable Plant Procedure1999-02-24024 February 1999 Documents Commitment Change Which Is to Discontinue Actions Contained in Util Ltr Dtd 970613,after NRC Approval of LAR & Lower Containment Leak Rate Limit Is Implemented. Change Is Acceptable IAW Applicable Plant Procedure NPL-99-0101, Forwards Proprietary & non-proprietary Version of Rev 20 to EPIP 3.2, Emergency Response Organization Notification & Revised Index.Proprietary Info Withheld1999-02-19019 February 1999 Forwards Proprietary & non-proprietary Version of Rev 20 to EPIP 3.2, Emergency Response Organization Notification & Revised Index.Proprietary Info Withheld ML20203F7301999-02-10010 February 1999 Forwards Revs to Security Plan Sections 1.2,1.3,1.4,2.1,2.5, 2,6,2.8,6.1,6.4,6.5,B-3.0,B-4.0,B-5.0 & Figure R Dtd 990210. Evaluation & Description of Plan Revs Also Encl to Assist in NRC Review.Encls Withheld NPL-99-0067, Submits 30 Day Rept of Changes & Errors Discovered in ECCS Evaluation Models for Pbnp,Unit 21999-02-0202 February 1999 Submits 30 Day Rept of Changes & Errors Discovered in ECCS Evaluation Models for Pbnp,Unit 2 NPL-99-0064, Forwards Revised TS Bases Page 15.4.4,correcting References to Pbnp FSAR Re Reactor Containment Design.Changes Are Administrative Only & Do Not Alter Facility or Operation,As Described in FSAR or Any TS Requirement1999-02-0202 February 1999 Forwards Revised TS Bases Page 15.4.4,correcting References to Pbnp FSAR Re Reactor Containment Design.Changes Are Administrative Only & Do Not Alter Facility or Operation,As Described in FSAR or Any TS Requirement NPL-98-1032, Forwards Revs to Pbnp Security Plan Sections 1.1,1.2,2.1, 2.6,2.8,6.1 & 6.4 & Revs to Pbnp ISFSI Security Plan Sections 1.0 & 7.0,per 10CFR50.54(p).Encl Withheld1999-01-27027 January 1999 Forwards Revs to Pbnp Security Plan Sections 1.1,1.2,2.1, 2.6,2.8,6.1 & 6.4 & Revs to Pbnp ISFSI Security Plan Sections 1.0 & 7.0,per 10CFR50.54(p).Encl Withheld 05000266/LER-1998-029, Forwards LER 98-029-00,describing Discovery of Isolation of Autostart Feature for Svc Water Pumps from Unit 2,safeguards Buses During Modifications1999-01-26026 January 1999 Forwards LER 98-029-00,describing Discovery of Isolation of Autostart Feature for Svc Water Pumps from Unit 2,safeguards Buses During Modifications NPL-99-0031, Informs That Wepc Reviewed Contents of NEI to NRC & Have Verified Info Provided in Ltr Pertaining to WOG Member Plants Is Applicable to Pbnp.Attachment Responds to NRC Questions by Ref to Info in 981211 NEI Ltr1999-01-15015 January 1999 Informs That Wepc Reviewed Contents of NEI to NRC & Have Verified Info Provided in Ltr Pertaining to WOG Member Plants Is Applicable to Pbnp.Attachment Responds to NRC Questions by Ref to Info in 981211 NEI Ltr NPL-99-0004, Provides Status Update on Program Activities & Schedule for Final Resolution of Items Re Verification of Seismic Piping Class Interfaces for Point Beach Nuclear Plant,Units 1 & 21999-01-11011 January 1999 Provides Status Update on Program Activities & Schedule for Final Resolution of Items Re Verification of Seismic Piping Class Interfaces for Point Beach Nuclear Plant,Units 1 & 2 NPL-99-0012, Forwards Proprietary & Nonproprietary Revs to Epips. Proprietary Version of EPIPs Withheld1999-01-0808 January 1999 Forwards Proprietary & Nonproprietary Revs to Epips. Proprietary Version of EPIPs Withheld 1999-09-30
[Table view] Category:UTILITY TO NRC
MONTHYEARML20059H9391990-09-13013 September 1990 Forwards Amended Response to Notice of Violations Noted in Insp Repts 50-266/89-27 & 50-301/89-26.Corrective Action: Revised Procedures Will Not Be Issued Until After Unit 2 Refueling Outage.Other Changes Anticipated by 901231 ML20059G7211990-09-0505 September 1990 Responds to Generic Ltr 90-03, Vender Interface for Safety- Related Components. Implementing Formal Vendor Interface Program for Every safety-related Component Impractical ML20028G9071990-08-31031 August 1990 Advises That long-term erosion/corrosion-induced Program for Pipe Wall Thinning in Place,Per Generic Ltr 89-08.Program Assures Erosion/Corrosion Will Not Lead to Degradation of Single & two-phase High Energy Carbon Steel Sys ML20059G8741990-08-31031 August 1990 Forwards Revised Security Plan,Per NRC .Summary of Revs Listed.Rev Withheld (Ref 10CFR3,50,70 & 73) ML20064A4711990-08-29029 August 1990 Forwards Semiannual Monitoring Rept,Jan-June 1990, Rev 1 to Process Control Program, Rev 7 to Environ Manual & Rev 5 to Odcm ML20058N6771990-08-0303 August 1990 Forwards Public Version of Revised Procedures to Emergency Plan manual.W/900813 Release Memo ML20058L1471990-08-0303 August 1990 Responds to NRC Re Weaknesses Noted in Insp Repts 50-266/90-201 & 50-301/90-201 Re Electrical Distribution. Corrective Actions:Design Basis Documentation Will Be Developed to Alleviate Weaknessess in Diesel Generators ML20058L5041990-07-30030 July 1990 Discusses & Forwards Results of fitness-for-duty Program Performance Data for 6-month Period Ending 900630 ML20055J2031990-07-25025 July 1990 Responds to NRC Bulletin 89-002 Re Insp of safety-related Anchor/Darling Model S350W Check Valves Supplied w/A193 Grade B6 Type 410 SS Retaining Block Studs.Studs Visually Inspected & No Cracks Found ML20055H7781990-07-24024 July 1990 Forwards Corrected Monthly Operating Rept for June 1990 for Point Beach Unit 2.Correction on Line 18 Regards Net Electrical Energy Generated ML20055H6621990-07-23023 July 1990 Forwards Central Files & Public Versions of Revised Epips, Including Rev 2 to EPIP 1.1.1,Rev 16 to EPIP 4.1,Rev 6 to EPIP 6.5,Rev 20 to EPIP 1.2,Rev 8 to EPIP 6.3,Rev 0 to EPIP 7.3.2,Rev 10 EPIP 10.2 & Rev 11 to EPIP 11.3 ML20058K8941990-07-23023 July 1990 Forwards June 1990 Updated FSAR for Point Beach Nuclear Plant Units 1 & 2.Steam Generator Upper Ph Guideline in Table 10.2-1 Changed from 9.3 to 9.4 ML20044A9091990-07-0606 July 1990 Responds to NRC Bulletin 90-001 Re Loss of Fill Oil in Transmitters Mfg by Rosemount.None of Listed Transmitters Installed at Plant in Aug 1988 Identified as Having High Failure Fraction Due to Loss of Fill Oil ML20055D4421990-07-0303 July 1990 Forwards Reactor Containment Bldg Integrated Leak Rate Test Point Beach Nuclear Plant Unit 1,1990, Summary Rept ML20055D3471990-06-29029 June 1990 Provides Addl Response to Bulletin 88-008, Thermal Stresses in Piping Connected to Rcss. Engineering Evaluations Performed to Assure Code Compliance Due to Unanalyzed Condition of Thermal Stratification Addressed ML20055D6221990-06-29029 June 1990 Provides Suppl to Re Loss of All Ac Power.Test Demonstrated That Ventilation Mod & Recalibration of High Temp Trip for Auxiliary Power Diesel Improved Performance of Gas Turbine Generator as Alternate Ac Source ML20055D2291990-06-22022 June 1990 Informs NRC That Gj Maxfield Promoted to Plant Manager effective,900701 ML20055D6231990-06-22022 June 1990 Advises of Decision to Proceed W/Leak Testing of Sys During Plant Refueling Outage Due to Delay in Delivery of Gamma-Metrics Hardware Fix Kits.Test Revealed That Both in-containment Cable & Detector Assembly Cable Had Leaks ML20044A0011990-06-18018 June 1990 Provides Current Implementation Status of Generic Safety Issues at Plant,In Response to Generic Ltr 90-04 ML20043D6511990-05-25025 May 1990 Discusses Cycle 18 Reload on 900519,following 7-wk Refueling & Maint Outage.Reload SER for Cycle 18 Demonstrates That No Unreviewed Safety Questions,As Defined in 10CFR50.59, Involved in Operation of Unit During Cycle ML20043B1481990-05-18018 May 1990 Advises That Necessary Info Received from Westinghouse Re Revised Administrative Controls for NRC Bulletin 88-002, Rapidly Propagating Fatique Cracks in Steam Generator Tubes. ML20043B1101990-05-17017 May 1990 Documents Status of Evaluations Committed to Be Performed Re IE Bulletin 79-14 Program.Support CH-151-4-H50 Modified During Unit 1 Refueling Outage & Now in Code Compliance. Meeting Proposed During Wks of 900618 or 900716 ML20043A9921990-05-16016 May 1990 Advises of Typo in Item 2.C Re Emergency Diesel Generator Meter Accuracy in Submittal Re Corrective Actions in Response to Concerns Identified During Electrical Insp.Meter Calibr Reading Should Be 3,050 Kw Not 350 Kw ML20043B0481990-05-16016 May 1990 Updates 890330 Response to NRC Bulletin 88-010, Nonconforming Molded Case Circuit Breakers. Util Will Replace Unit 1 Inverter & Battery Charger Circuit Breakers within 30 Days After Receipt & QA Verification ML20043A7631990-05-15015 May 1990 Responds to Notice of Violation & Forwards Civil Penalty in Amount of $87,000 for Violations Noted in Insp Repts 50-266/89-32,50-266/89-33,50-301/89-32 & 50-301/89-33. Addl Employees Added in QA & Corporate Nuclear Engineering ML20042H0201990-05-10010 May 1990 Forwards List of Concerns Identified at 900417 Electrical Insp Exit Meeting to Discuss Preliminary Findings of Special Electrical Insp Conducted on 900319-0412 Re Adequacy of Electrical Distribution Sys ML20043A2181990-05-10010 May 1990 Forwards Nonproprietary & Proprietary Version of Point Beach Nuclear Plant,Emergency Plan Exercise,900314. ML20042G7441990-05-0909 May 1990 Forwards LER 90-003-00 ML20042G7361990-05-0808 May 1990 Forwards LER 90-004-00 ML20042E4571990-04-10010 April 1990 Documents Basis for Request for Temporary Waiver of Compliance of Tech Spec 15.3.7.A.1.e Re Diesel Generator Fuel Oil Supply ML20012F2961990-03-29029 March 1990 Withdraws Tech Spec Change Request 120 Re Staff Organization Changes & Deletion of Organizational Charts,Based on Further Corporate Restructuring within Util ML20012D8301990-03-20020 March 1990 Responds to Generic Ltr 89-19, Safety Implication of Control Sys in LWR Nuclear Power Plants. No Limiting Condition for Operation Required for Overfill Protection Sys at Plant ML20012D4241990-03-0808 March 1990 Forwards Public Version of Revised Epips,Including Rev 17 to EPIP 1.3,Rev 8 to EPIP 3.1,Rev 15 to EPIP 4.1,Rev 1 to EPIP 6.7,Rev 1 to EPIP 7.1,Rev 11 to EPIP 7.2.1 & Rev 11 to EPIP 7.2.2 ML20011F7531990-02-26026 February 1990 Informs NRC of Apparent Inconsistency Between Min Level of Boric Acid Solution to Be Maintained in Boric Acid Storage Tanks Per Tech Specs & Amount of Deliverable Boric Acid Assumed in Safety Analyses ML20006B7091990-01-25025 January 1990 Responds to NRC Bulletin 89-002 Re Check Valve Bolting Insp. All Anchor-Darling Model S35OW Check Valves Inspected for Cracked Internal Bolting During Refueling Outage of Unit.No Indications of Cracks Found ML20006A3381990-01-18018 January 1990 Forwards PDR & Central Files Versions of Rev 16 to EPIP 9.2 & Forms, Radiological Dose Evaluation. ML20006A3411990-01-16016 January 1990 Forwards Rev 16 to EPIP 9.2, Radiological Dose Evaluation to Be Inserted in EPIP Manual ML20005G0901990-01-12012 January 1990 Responds to Generic Ltr 89-13, Svc Water Sys Problems Affecting Safety-Related Equipment. Outside of Intake Structure Will Be Inspected for Excessive Corrosion on Semiannual Basis & Forebay & Pumphouse Inspected ML20005G1751990-01-12012 January 1990 Responds to NRC 891213 Ltr Re Violations Noted in Insp Repts 50-266/89-30 & 50-301/89-30.Corrective Action:Procedure RP-6A, Steam Generator Crevice Flush (Vacuum Mode), Initiated ML20005H0551990-01-11011 January 1990 Responds to NRC Bulletin 89-003, Potential Loss of Required Shutdown Margin During Refueling Operations. Util Will Provide Specific Training to All Members Responsible for Refueling Operation to Emphasize Importance of Procedures ML20005G9031990-01-0909 January 1990 Forwards Monthly Operating Repts for Dec 1989 for Point Beach Nuclear Plant Units 1 & 2 & Revised Monthly Operating Rept for Nov for Point Beach Unit 2 ML20005G5641990-01-0808 January 1990 Updates Progress Made on Issues Discussed in Insp Repts 50-266/89-12 & 50-301/89-11 Re Emergency Diesel Generator Vertical Slice SSFI Conducted by Util.By Jul 1990,revised Calculation Re as-built Configuration Will Be Performed ML20005E5441989-12-29029 December 1989 Describes Actions & Insps Completed During Recent U2R15 Refueling Cycle & Proposed Schedule for Completion of NRC Bulletin 88-008 Requirements,Per Util 881221 & 890616 Ltrs. Extension Requested Until 900631 to Submit Data Evaluation ML20005E5451989-12-28028 December 1989 Advises That Addl Info Required from Westinghouse to Meet Util 890621 Commitment to Adopt Administrative Control Re Rapidly Propagating Fatigue Cracks in Steam Generator Tubes Per NRC Bulletin 88-002.Info Anticipated by End of Mar 1990 ML20005E5381989-12-27027 December 1989 Provides Update of Status of Implementation of Resolution of Human Engineering Discrepancies Documented During Dcrdr. Lighting Intended to Document Deficiencies Per NUREG-0700, Eleven Human Engineering Discrepancy Computers Resolved ML19354D5781989-12-21021 December 1989 Certifies Implementation of Fitness for Duty Program Which Meets Requirements of 10CFR26 for All Personnel Having Unescorted Access to Plant Protected Areas.Periodic Mandatory Random Chemical Testing Will Commence on 900103 ML20005D8071989-12-21021 December 1989 Forwards Response to Violations Noted in Insp Repts 50-266/89-29 & 50-301/89-29.Response Withheld (Ref 10CFR73.21) ML20005E2301989-12-21021 December 1989 Forwards Reactor Containment Bldg Integrated Leak Rate Test Point Beach Nuclear Plant Unit 2, Summary Rept,Per 10CFR50,App J.Type A,B & C Leak Test Results Provided ML20042D2391989-12-21021 December 1989 Responds to Violations Noted in Insp Repts 50-266/89-27 & 50-301/89-26.Corrective Actions:Superintendent of Health Physics Discussed Log Book Entry Requirements W/Health Physics Contractor Site Coordinator ML19354D6231989-12-15015 December 1989 Responds to Generic Ltr 89-10 Re safety-related motor- Operated Valve Testing & Surveillance.Util Intends to Meet All Recommendations Discussed in Ltr Except for Item C Re Changing motor-operated Valve Switch Settings 1990-09-05
[Table view] |
Text
_
8 0 0 4 2 9 0 y/ g' l
Wisconsin Electnc a come 231 W. MICHIGAN. P.0 BOX 2046 MILWAUKEE WI 53231 April 22, 1980 Nuclear Regulatory Commission Washington, D.C. 20555 Gentlemen:
In accordance with the regulations of your Commission, there is enclosed a copy of each of the following:
- 1. Annual Report of Wisconsin Electric Power Company which includes cettified financial statements of the Company and its subsidiaries (consolidated);
- 2. Certiiled financial statements of Wisconsin Electric Power Company (corporate).
The abovementioned reports are being filed with your Commission pursuant to 10CFR, Section 50.71 of the Nuclear Regulatory Commission Regulat'.ons as Wisconsin Electric Power Company is the holder of Facilic.y Operating Licenses Nos. DPR-24 and DPR-27 issued by your Commission under Dockets 50-266 and 50-301, respectively.
Very truly yours, I
b /fwf 4 rvf J. H. Goetsch Secretary Enclosures O +\ \
I j WISCONSIN ELECTRIC POWER COMPANY I I I l l
I I
i i i i
i I
, i i !
i I
) ,
i i
i I
I l
1 l I l Financial 5tatements for the Year 1979 I' !
\
a s .
l .
i i
j REPORT OF INDEPENDENT ACCOUNTANTS i
To the Board of Directors and the Stockholders of WISCONSIN ELECTRIC POWER COMPANY In our opinion, the accompanying balance sheet and the related i
l statements of income, retained earnings, undistributed subsidiary earnings, and changes in financial position present fairly the financial position of
! Wisconsin Electric Power Company (parent company only) at December 31, 1979 l and 1978, and the results of its operations and the chantes in its financial position for the years then ended, in conformity with generally accepted accounting principles consistently applied. Our examinations of these statements i
were made in accordance with generally accepted auditing standards and accordingly included such tests of the accounting records and such other l auditing procedures as we considered necessary in the circumstances.
PRICE WATERHOUSE & CO.
f Milwaukee, Wisconsin January 24, 1980 a
WISCONSIN ELECTRIC POWER COMPANY 9
INCOME STATEMENT Year Ended December 31
- 1979 1978 (Thousands of Dollars)
Operating Revenues Electric $667,963 $583,360 Steam 8,570 8,272 Total Operating Revenues 676,533 591,632 Operating Expenses Fuel (Ncus A) 180,757 155,969 Purchased p,wer 67,863 48,568 Other operat ion expenses (Note B) 117,706 98,980 Maintenance 63,858 52,927 Taxes other than income taxes 30,996 31,342 Depreciation (Note C)
Straight line 53,158 47,942 Deferred income taxes (Note D) 15,914 2,633 Federal income tax (Note D) 7,788 27,127 Investment tax credit adjustments - net 26,822 23,500 State income tax (Note D) 6,026 6,026 Total Operating Expenses 570,888 495,014 Operating Income 105,645 96,618 Other Income and Deductions Equity in earnings of subsidiaries 7,998 7,211 Interest income 2,885 2,243 Allowance for other funds used during construction (Note E) 7,535 3,372 Miscellaneous - net -
19 1 (312)
Income taxes (Note D) (1,474) (1,053)
Total Other Income and Deductions 17,135 11,461 Income Before Interest Charges 122,780 108,079 Interest Charges Long term debt 37,829 33,942 Allowance for borrowed funds used during construction (Note E) (6,165) (1,895)
Other 8,584 4,427 Total Interest Charges 40,248 36,474 Net Income $ 82,532 , S 71,605 The notes on pages 8.through 17 are an integral part of the financial statements.
P WISCONSIN ELECTRIC POWER COMPANY RETAINED EARNINGS STATEMENT Year Ended December 31 1979 1978 (Thousands of Dollars)
Balance, January 1 $201,844 $180,282 Additions Net income 82,532 71,605
- Equity in earnings of subsidiaries (7,998) (7,211)
Dividends received from subsidiaries 7,935 5,175 Transfer of amortization reserve -
hydroelectric projects -
305 284,313 250,156 Deductions Dividends - cash Preferred stock 12,178 7,088 Common stock 43,784 40,537 55,962 47,625 Cost of issuing capital stock 104 687 56,066 48,312 Balance, December 31 $228,247 $201.844 STATEMENT OF UNDISTRIBUTED SUBSIDIARY EARNINGS Year Ended December 31 1979 1978 (Thousands of Dollars)
Balance, January 1 $ 23,178 $ 21,142 Equity in earnings of subsidiaries 7,998 7,211 Dividends received from subsidiaries (7,935) (5,175)
Balance, December 31 $ 23,241 $ 23,178 l
l The notes on pages 8 through 17 are an integral part of the financial statements.
4 WISCONSIN ELECTRIC POWER COMPANY STATEMENT OF CHANGES '.N FINANCIAL POSITION Year Ended December 31 1979 1978 (Thousands of Dollars)
Financial Resources Provided Operations Net income $ 82,532 $ 71,605 Depreciation - straight line 53,158 47,942
- deferred income taxes 15,914 2,633 Accumulated deferred investment tax credits 22,893 19,611 Nuclear fuel expense 12,767 8,782 Undistributed subsidiary earnings (63) (2,036)
Allowance for funds used during construction (13,700) (5,267)
Total from operations 173,501 143,270 Common stock 14,864 5,516 Preferred stock -
59,455 Long term debt 75,525 104,882 Sale of nuclear fuel -
5,192 Release of construction funds held by trustees 10,695 -
Short term borrowings 110,300 3,028 Contributions in aid of construction 1,817 1,l08 Miscellaneous 2,754 (868)
$389,456 $321,583 Financial Resources Used Construction expenditures $239,479 $212,388 Nuclear fuel 37,362 33,436 Dividends 55,962 47,625 Retirement of long term debt 9,400 12,014 Construction funds held by trustees 23,447 12,153 Increase in working capital (other than short term borrowings and long term debt due currently) 23,806 3,967
$3S9,456 $321,583 The notes on pages 8 through 17 are an integral part of the financial statements.
l l
i l
i
s
+ .
WISCONSIN ELECTRIC PCWER COMPANY BALANCE SHEET December 31 ASSETS 1979 1978 (Thousands of Dollars)
Utility Plant Electric $1,571,082 $1,511,L72 Steam 17,274 17,161 1,588,356 1,528,333 Accumulated provision for depreciation (673,576) (606,708) 914,780 921,625 Construction work in progress 411,347 216,851 Nuclear fuel 94,709 55,420 Accumulated provision for amortization (11,773) (2,617) 82,936 '52,803 Net Utility Plant 1,409,063 1,191,279 Other Property and Investments
- Nonutility property 3,410 2,504 Accumulated provision for depreciation (631) (384)
Net nonutility property 2,779 2,120 Inve s tment in subsidiary companies 49,747 49,684 Total Other Property and Investments 52,526 51,804 Construction Funds Held by Trustees (Note F) 24,905 12,153 Current Assets .
Cash 2,738 4, 19 3 Temporary cash investments 9,996 2,700 Accounts receivable (Note G) 44,031 43,561 Accrued utility revenues 48,868 38,614 Accounts receivable from subsidiary companies (Note H) 5 56 Notes receivable from subsidiary companies (Note H) 19,704 17,568 Fossil fuel (at average cost) 59,126 46,319 Materials and supplies (at average cost) 32,033 23,669 Prepayments and other assets 6,522 6,418 Total Current Assets 223,023 183,098 Deferred Charges and Other Assets 17,915 30,721
$1,727,432 $1,469,055 I
The notes on pages 8 through 17 are an integral part of the i financial statements.
l l
i i
WISCONSIN ELECTRIC POWER COMPANY BALANCE SHEET December 31 LIABILITIES 1979 1978 (Thousands of Dollars)
Capitalization Common Stock Equity (Note I)
Common stock (authc ized 41,000,000 shares,
$10 par value; is ued 19,085,720 and 18,473,747 shares; $ 190,857 $ 184,737 Premium on capital stock ,
144,040~ 135,296 Retained earnings 228,247 201,844 Undistributed subsidiary earnings 23,241 23,178 Total Common Stock Equity 586,385 545,055 Preferred Stock (Note'J) 160,451 160,451 Long Term Debt (Note K) 605,532 543,892 Total Capitalization 1,352,368 1,249,398 l Current Liabilities Long term debt due currently (Note K) 11,635 7,662 Notes payable to banks (Note L) 14,983 14,983 .
! Commercial paper (Note L) 114,322 4,022 Accounts payable 44,791 34,083 Accounts payable to subsidiary companies (Note H) 2,307 1,342 Payroll and vacation accrued 11,275 10,19 5 Taxes accrued - income and other 27,720 25,657 Interest accrued 11,379 9,488 Customer deposits 1,466 L,365 Other 5,639 6,328 Total Current Liabilities 245,517 115,125 Deferred Credits and Other Liabilities Accumulated deferred investment tax credits 69,454 46,56L Nuclear fuel costs accrued (Note D) 19,646 17,372 Unamortized accrued utility revenues 19,127 21,859 Other 6,142 5,379 Total Deferred Credits and Other Liabilities 114,369 91,171 Contributions in Aid of Construction 15,178 13,361 l
Commitments (Note M) and Contingencies (Note N)
$1,727,432 $1,469,055 l
The notes on pages S through 17 are an integral part of the financial statements.
WISCONSIN ELECTRIC POWER COMPANY NOTES TO FINANCIAL STATEMENTS Summary of Significant Accounting Policies General The accounting records of the company and its utility subsidiary are kept as prescribed by the Federal Energy Regulatory Commission, modified for requirements of the Public Service Commission of Wisconsin (PSCW). The company owns all of the common stock of Wisconsin Natural Gas Company (Wisconsin Natural) and Badger Service Company. The company carries its investments in subsidiaries in accordance with the equity method of accounting.
Revenues Meters are read and accounts are billed monthly. Since January 1, 1977 utility revenues have been recognize,d on the accrual basis and include estimated amounts for service rendered but not billed. Accrued utility revenue of
$32 million at December 31, 1976 is being recorded as revenue in equal amounts over a ten year period as prescribed by PSCW.
Fuel The cost of fossil and nuclear fuel is expensed in the period consumed.
Nuclear fuel expense includes an estimate for offsite storage of spent nuclear fuel for ten years after removal from the reactor. No salvage value is recognized for spent nuclear fuel. The accounting for nuclear fuel follows the ratemaking treatment for such costs.
Prooerty Electric utility property is recorded at original cost, and steam utility and nonutility propert; is recorded at cost. Additions to utility property and significant replacements are charged to utility plant at cost. Cost includes material, labor and allowance for funds used during construction (see Note E). Replacements of minor items of property are charged to maintenance expense. The cost of depreciable property, together with removal cost less salvage, is charged to accumulated provision for depreciation when property is retired.
Income Taxes Deferred income tax accounting is practiced in respect to significant timing differences. The federal investment tax credit is accounted for on the
- deferred basis and is reflected in income ratably over the life of the related property.
Debt Premium. Discount and Excense i Long term debt premium or discount and expense of issuance are amortized by the straight line method over the lives of the debt issues. Unamortized l
amounts pertaining to debt reacquired for sinking fund purposes are written off currently.
l l
A - Rental Expense Total rental expense was $16,550,000 in 1979 and $21,010,000 in 1978.
This includes charges of $15,000,000 in 1979 and $l9,835,000 in 1973 for the portion of nuclear fuel which is leased. The nuclear fuel lease can be terminated by the company or the lessor on two years notice. The lease of any batch of fuel automatically terminates at the end of 78 months, or 18 months af ter removal from the reactor, unless the parties extend the term. The company has agreed to pay the lessor for the unamortized cost of the nuclear fuel in the event the lease is terminated. The company has an option to purchase the nuclear fuel at the higher of such unamortized cost or fair market value. Rental payments are made monthly based on the amount of nuclear fuel leased and the amount of leased nuclear fuel burned.
, The nuclear fuel lease is treated 'as an operating lease by PSCW in i metermining revenue requirements, and the value of the leased fuel is not included in the company's rate base. Had the lease been accounted for as a capital lease, expenses before income taxes and indeterminate effects of corresponding ratemaking treatment would have been decreased $599,000 in 1979 and $391,000 in 1978 and an asset and corresponding liability equal to the unamortized cost of the leased nuclear fuel would have been recorded at December 31 in the amounts of $9,534,000 in 1979 and $21,499,000 in 1978.
B - Pension Plans i
Several noncontributory pension plans cover all eligible employes. Normal employe pension cost is accrued and funded currently and unfunded prior service liability is amortized over periods from ten to thirty years. The unfunded prior service liability of the pension plans is not significant. Substantially all vested and accrued benefits under the plans have been funded. Pension expense was $6,767,000 in 1979 and $5,244,000 in 1978.
C - Deoreciation Depreciation expense is accrued at straight line rates certified by PSCW.
i Depreciation rates include estimates of salvage and plant removal costs. !
l Nuclear plant depreciation rates provide for an amount to cover estimated plant decommissioning costs.
Additional depreciaticn is accrued in accordance with PSCW requirements which is equal to the tax effects of timing differences related to property and nuclear fuel including principally the use for tax purposes of accelerated depreciation methods (see Note D).
l l
D - Income Tax Excense Below is a summary of income tax expense and a reconciliation of total income tax expense with the tax expected at the federal statutory rate.
9
D - Income Tax Expense (continued) 1979 1978 (Thousands of Dollars)
Current tax expense $ 15,288 $ 34,206 Investment tax credit adjustments - net 26,822 23,500 Deferred taxes charged to depreciation expense 15,914 2,633 Total tax expense $ 58,024 $ 60,339 income before income taxes $140,556 $131,944 Expected tax at federal statutory rate $ 64,656 $ 63,333 Allowance for funds used during construction (6,302) (2,528)
Equity in earnings of subsidiaries (3,679) (3,461)
State income tax net of federal tax reduction 4,588 4,483 Other (no item over 57 of expected tax) (1,239) (1,488)
Total tax expense $ 58,024 $ 60,339 The aggregate amount of deferred income taxes included in the accumulated provision for depreciation at December 31 was $131,985,000 in 1979 and
$115,414,000 in 1978.
In 1978 the company filed claims for refunds with the Internal Revenue Service (IRS) for the years 1970-72. The claims seek a refund of federal income taxes for the deduction of storage and other costs for spent nuclear fuel. Such costs were disallowed as a current deduction by IRS on audit and the resulting assessment was withheld from a previous refund. Management is contesting the disallowance, but pending resolution the company recorded the tax effect of these costs for the years 1970-78 and for 1979 by increasing the current federal income tax provisions and normalizing those amounts by reducing deferred income taxes by $14,738,000 in 1978 and $2,057,000 in 1979, resulting in no effect on net income. Deferred nuclear fuel costs accrued were reduced by the amounts of taxes provided. This accounting for income taxes is in accordance with PSCW practice. Related interest was accrued in the amounts of $1,682,000 in 1978 and $607,000 in 1979.
E - Allowance for Funds Used During Construction (AFDC)
AFDC is included in utility plant accounts and represents the cost of borrowed funds used during plant construction and a rate of return on stock-holders' capital used for construction purposes. On the income statement the cost of borrowed funds (before income taxes) is a reduction of interest expense and the return on stockholders' capital is an item of noncash other income.
The company is limited by PSCW to capitalizing AFDC only on construction work in progress exceedir.- 10% of its net investment rate base. Revenues granted by PSCW in rate orcers include the equivalent of a return on investment in construction work in progress below this limit. AFDC was capitalized in 1979 and 1978 at a rate of 77. approved by PSCW.
I .
- to -
F - Construction Funds Held by Trustees The construction funds were established to finance pollution control and
, environmental improvement facilities at the company's new Pleasant Prairie Power Plant. Proceeds from the sales of municipal revenue bonds issued by the Town of Pleasant Prairie in 1978 and 1979 were deposited in the funds under loan agreements with the company. As a revenue source and collateral for the loans, ,the company has issued to the town its first mortgage bonds in the aggregate principal amount of $52 million. Funds are released to the company as qualifying property is constructed at the plant.
G - Accounts Receivable Accounts recef- ' are shown on the balance sheet after deducting an accumulated provision tor doubtful accounts in the amount of $965,000 for 1979 and $6S6,000 for 1978. Uncollectible account write-offs net of recoveries were $1,852,000 in 1979 and $1,240,000 in 1978.
H - Transactions With Subsidiary Comoanies The company renders managerial, financial, accounting, legal, data processing and other services to Wisconsin Natural, which in turn renders to the company certain accounting and other services. These services are billed at cost by the respective companies. The company also purchases gas from Wisconsin Natural for electric generation at rates approved by PSCW. To take advantage of the company's access to short term funds at a lower cost than that available to Wisconsin Natural, the company makes loans to the subsidiary at an interest rate approximating the cost to the company.
I - Common Stock and Premium on Caoital Stock Under the Automatic Dividend Reinvestment and Stock Purchase Plan, sales of 426,901 shares of common stock were made in 1979 and 114,506 shares in 1978. Proceeds from the sales were $10,173,545 in 1979 and $3,143,083 in 1978.
Sales of common stock under the Tax Reduction Act Stock Ownership Plan (TRASOP) were 185,072 shares in 1979 and 83,173 shares in 1978. Proceeds from the TRASOP sales were $4,690,966 in 1979 and $2,367,709 in 1978. The increase in premium on capital stock is the excess of the proceeds from sales over the
$10 par value of the common stock sold.
- 11 -
l
J - Preferred Stock December 31 1979 1978 (Thousands of Dollars)
Preferred Stock (cumulative)
Six Per Cent. Preferred Stock - authorized 45,000 shares; $100 par value; issued 44,508 shares; not callable $ 4,451 $ 4,451 Serial Preferred Stock - authorized 2,360,000 and 1,560,000 shares; $100 par value 3.60% Series - issued 260,000 shares; redemption price $101 26,000 26,000 8.90% Series - issued 400,000 shares; redemption price $107 to December 1, 1980 and declining amounts thereafter to $101 after December 1, 1985 40,000 40,000 7.75% Series - issued 300,000 shares; redemption price $107 to November 1, 1981 and declining amounts thereafter to $101 after November 1, 1986 30,000 30,000 8.80% Series - issued 600,000 shares; redemption price $108.80 to January 1,1984 and declining amounts thereaf ter to $101 after December 31, 1993 60,000 60,000 Serial Preferred Stock - authorized 5,000,000 shares; $25 par value, unissued - -
Total Preferred Stock $160,451 $160,451 L._
0 K - Long Tarm Debt December 31 1979 1978 (Thousands of Dollars)
First Mortgage Bonds Wisconsin Electric Power Company 2-7/8% Series due 1979 $
$ 7,574 2-3/4% Series due 1980 10,995 11,122 3-1/4% Series due 1982 9,324 9,502 10.20% Series due 1982 50,000 -
3-1/8% Series due 1984 15,425 15,647 3-7/8% Series due 1986 22,070 22,332 4-1/8% Series due 1988 23,062 23,457 5 % Series due 1990 26,871 26,913 5-7/8% Series due 1996 28,097 28,122 6-7/8% Series due 1997 38,081 38,115 6-7/8% Series due 1998 33,808 33,834 6.10% Serial Series due 1999-2008 25,000 25,000 6.25% Serial Series due 1999-2008 1,000 1,000 7-l/4% Series due 1999 38,991 38,995 8-3/8% Series due 1999 39,555 39,591 6.45% Series due 2004 12,000 -
8-3/4% Series due 2006 60,000 60,000 6.457. Series due 2006 4,000 -
6.507. Serial Series due 2007-2009 10,000 -
8-7/8% Series due 2008 80,000 80,000 Former Wisconsin Michigan Power Company (merged with company in 1977) 2-3/4% Series due 1980 640 640 3-5/87. Series due 1981 2,147 2,147 3-1/87. Series due 1984 2,164 2,164 4-3/4% Series due 1991 3,623 3,623 4-1/2% Series due 1993 5,052 5,077 5-7/8% Series due 1996 9,251 9,271 6-1/2% Series due 1997 11,539 11,539 6-5/87. Series due 1998 9,889 9,899 8-1/27. Series due 1999 11,829 11,829 Debentures (unsecured)
Wisconsin Electric Power Company 7 % Series due 1993 33,531 34,429 617,944 551,822 Unamortized Discount - net (777) (263)
Long Term Debt Due Currently (11,635) (7,662)
Total Long Term Debt $605,532 $543,592 The maturities and sinking fund requirements through 1984 for the aggregate amount of long term debt outstanding at December 31, 1979 are shown below.
Of the annual sinking fund requirements, $2,890,000 for the year 1980 and
$3,690,000 for the years 1981-84 may be satisfied by certifying additional mortgaged property.
K - Long Te rm Deb t (continued)
Maturities Sinking Fund 1980 $11,635,000 $5,230,000 1981 2,147,000 5,880,000 1982 59,137,000 . 5,845,000 1983 - 5,720,000 1984 16,733,000 5,720,000 Future sinking fund requirements have been anticipated by advance purchases of bonds to the extent of $2,766,000 and certification of property in the amount of $2,690,000. Sinking fund requirements for 1980 have been sstisfied.
Substantially all utility plant and nonutility property is subject to the lien of the applicable mortgage.
L - Notes Payable and Commercial Paper The average interest rate for debt outstanding at December 31, 1979 was 12.20% for notes payable and 13.35% for commercial paper. Average short term borrowing outstanding during 1979 amounted to $60,910,000 with a weighted average interest rate of 11.43%. Maximum short term borrowing during l979 was
$129,305,000.
All bank loans outstanding at December 31, 1979 were demand notes held by banks in fiduciary capacities. Commercial paper outstanding matured in January and February 1950.
. Unused lines of credit for short term borrowing amounted to $115,055,000 at December 31, 1979. In support of various informal lines of credit from banks, the company has agreed to maintain unrestricted compensating balances.
With the exception of funds required for daily operations, the cash balance shown on the balance sheet at December 31, 1979 as well as $1,000,000 of non-interest bea. ring certificates of deposit included in temporary cash investments represent compensating balances.
M - Commitments Construction expenditures through 1984 are estimated to be $1.2 billion, of which $325 million is planned for 1980. Commitments for generation facilities at December 31, 1979 amounted to $247 million, part of which is cancelable; with the abanaonment of the Haven project, this amount was reduced to $143 milliop (see third paragraph of Note N),
N - Contingencies On March 2,1979 the company was ordered by PSCW (Commission) to write off throughout 1979 its share ($2.3 million af ter income tax effect) of certain r
capitalized expenditures related to the discontinued Koshkonong nuclear plant i
project in which the company was a participant with three other utilities.
l The Commission dcemed that 'such expenditures were prudently made, but of no future value. The write-off reduced 1979 earnings by $0.12 a share. However,
N - Contingencies (continued) 9 in October 1979 the Brown County Circuit Court reversed the March 2 order of PSCW and on November 15 ordered the matter remanded to the Commission for modification of the order. The company and other utilities filed with PSCW on November 30 a motion for an accounting order which would reclassify the write-off to a deferred account pending subsequent action in separate rate dockets for each utility in which they would propose a formula for having the amount so reclassified borne by their ratepayers. The Commission appealed the October Circuit Court decision to the Wisconsin Court of Appeals in December 1979. Other precertification expenditures related to the project were transferred to the Haven nuclear project pursuant to the PSCW order.
An intervenor petition before the Dane County Circuit Court requested review of the PSCW finding that the expenditures for the Kashkonong project were reasonable and prudent. Although the actions of regulatory bodies cannot be predicted with assurance, the company continues to believe that expenditures in connection with the Koshkonong project were reasonable and prudent and that such expenditures should, therefore, be recognized for ratemaking purposes.
Under date of February 14, 1980, the company and other participants received an order from the PSCW stating that expenditures capitalized to June 30, 1979 in connection with the Haven project were prudent and requiring the company to amortize its investment of $21.9 million to operating expense monthly over a three-year period, starting with completion of the next rate proceeding. The order further directed that within thirty days the company advise the Commission of its decision as to continuance of the Haven application or withdrawal thereof and abandonment of the project. On February 29, 1980, the company notified the Commission of its intention to abandon the project.
According to the order, the company will be allowed to earn on the unamortized expenditures through inclusion in the capital base for return purposes.
Public hearings were held by PSCW in November 1979 on the financial, accounting and ratemaking effects of steam generator tube degradation at Point Beach Nuclear Plant. On December 20 the Commission issued an amended notice of investigation and order directing the company to present testimony on replacement power costs and any associated costs deriving from unscheduled downtime as a result of the tube degradation. The company believes that the additional costs of fuel or replacement power incurred as a result of this tube degradation problem will continue to be recoverable, either under existing tariffs or otherwise, through the company's electric rates.
0 Supplementary Information Concerninz the j Ef fects of Inflation (Unaudited) l The Financial Accounting Standards Board requires that, beginning in 1979, certain information relating to the effects of changing prices (inflation) l be included in the annual report to stockholders for certain large publicly held enterprises. No changes to the basic financial statements are required nor have any been made. While the required information is one means of displaying inflation's effects, it should not be considered as the only means of measuring l inflation, nor necessarily the most meaningful for a public utility.
0 - Supplementary Information Concerning tha Ef fects of Inflation (Unaudited) (continued)
The following information, adjusted for general inflation, reflects conversion of historical costs into average 1979 dollars. The Consumer Price Index for All Urban Consumers was used for this purpose.
Statement of Income Adjusted for Inflation.
Year Ended December 31, 1979 As Reported Adjusted for in Financial General Statements Inflation (Millions of Dollars)
Operating Revenues $677 $677 Operating Expenses Depreciation - straight line 53 106 Other expenses 461 461 Income taxes 57 57 Total Operating Expenses 571 624 i Operating Income 106 53 l Other Income and Deductions 17 17 Interest Charges (40) (40)
Net Income (excluding reduction of plant investment to net recoverable cost)
(Note) $g $J Reduction of uttitty plant to amount recoverable through regulatory process $(127)
Gain from decline in purchasing power of debt and preferred stock 111 l $g
! Note - Net income (loss) af ter. reduction of net -utility plant to recoverable cost would have been $(97'000,000) adj us ted
~
for general inflation.
The only operating expense 'nich has been adjusted is depreciation; this was computed using the same accounting principles as those used for the reported financial statements. The cost of fossil and nuclear fuel has not j been restated because increases in fuel prices are passed on to ratepayers j currently through fuel adjustment tariffs. Income tax expense has not been
! adjusted because the effects of inflation are not recognized for tax purposes.
The reduction of utility plant to the amount recoverable through the regulatory process ($127 million) shows the impact of 1979 inflation on the company's reported net plant cost not recognized by the increased depreciation 0 - Supplementary Information Concerning the Effects of Inflation (Unaudited) (continued)
($53 million). The gain from decline in purchasing power of debt and preferred stock ($111 million) is the benefit accruing to the company in 1979 because these items will ultimately be repaid in dollars of reduced purchasing power.
In the following five-year summary, selected historical items have been restated in average 1979 dollars. The absolute numbers are not as meaningful as the five-year trend. For example, dividends adjusted for inflation are trending down, whereas historical dollar dividends increased from $1.90 a share in 1975 to $2.345 in 1979. The downward trend will continue unless inflation is controlled or changes are made in the incoc tax laws or the regulatory process.
Selected Supplementary Financial Data Adjusted for the Effects of Inflation (All amounts are stated in average 1979 dollars)
Year Ended December 31 1979 1978 1977 1976 1975 (Millions of Dollars Except Per Share Amounts)
Common stock equity at year end $555 Operating revenues adjusted for general inflation $677* $653 $631 $599 $555 Cash dividends per share adjusted for general inflation $ 2.345* $ 2.46 $ 2.50 $ 2.52 $ 2.56 Market price per share of common stock at year end adjusted for general inflation $ 21.64 $27.86 $36.36 $39.13 $37.91 Consumer price index - average for year 217.4 195.4 181.5 170.5 161.2
In compliance with the Securities and Exchange Commission requirement, the company's annual report to the Commission (Form 10-K) will include the unaudited estimated cost of replacing present productive capacity and the corresponding depreciation expense based on replacement cost. .
l
. o WISCONSIN ELECTRIC POWER COMPANY DIRECTORS
- Charles S. McNeer Russell W. Britt Donald K. Mundt Sol Burstein
- Richard L. Johnson Morris W. Reid
(*) Member of Executive Committee; all other directors are alternate members OFFICERS Charles S. McNeer . . . . . . President and Chief Executive Officer Russell W. Britt . . . . . . . . . . . . . Executive Vice President Sol Burstein . . . . . . . . . .. . . . . Executive Vice President Thomas J. Cassidy . . . . . . . ..... . . Senior Vice President Nicholas A. Ricci . . . . . . . . . . . . . . Senior Vice President Robert H. Gorske . . . . . . . . Vice President and General Counsel John H. McLean . . . . . . . . Vice President - Customer Relations Huberto R. Platz . . Vice President - Engineering and Construction ,
Philip G. Sikes . . . . . . . . . Vice President - System Operations Richard E. Skogg . . . . . . . Vice President - Operating Services John E. Speaker . . . . . . . . . . Vice President - Communications Norman C Storck . . . . . . . Vice President - Division Operations John H. 61etsch . . . . . . . . . . . . . . . . . . . . . Secretary Jerry G. Remmel . . . . . . . . . . . . . . . . . . . . . Treasurer Richard R. Piltz . . . . . . .. . . . . . . . . . . . . Controller John W. Fleissner . . . . . . . . . . . . . . . Assistant Secretary Dawn L. Freitag . . . . . . . . . . . . . . . . Assistant Secretary Gordon A. Willis . . . . . . . . . . . . . . . Assistant Treasurer GENERAL OFFICES 231 West Michigan Street, P.O. Box 2046, Milwaukee, Wisconsin 53201 k
l i
l l
L