ML19326A805
| ML19326A805 | |
| Person / Time | |
|---|---|
| Site: | Crystal River  |
| Issue date: | 06/10/1975 |
| From: | Moore V Office of Nuclear Reactor Regulation |
| To: | Rodgers J FLORIDA POWER CORP. |
| References | |
| NUDOCS 8003040762 | |
| Download: ML19326A805 (11) | |
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, y CP - page 1-E"CLOSUP.E 1
- REQUEST FOR ADDITIC' AL FI!iAtlCIAL II:FOR"ATIO:t -
C0i!STRUCTIO: PER:iiT
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CRYSTAL RIVER UNIT 3 DOCKET !!0.
50-302 1.
Indicate the total estimated cost to complete the design and con-
~
struction of Crystal River Unit 3 including nuclear production plant
. costs; trans:missica, distribution and general plant costs; and the nucle'r fuel inventcry cost for the first ccre.
.2.
If nuclear fuel for the facility is to be acquired by lease or other arrang:mr.nt than purchase, submit copies of the lease or documents rela ting to the "other arrangement".
3.
Provide the earliest and latest estimated datcs for completion of construction of the unit.
- 4. ~1l hat is the aggregate dollar amount that will be payable by the additional participants at the date of clos'ing the sale?
L'hnt is the total estinatcd dollar munt that the additional participants will pay to Florida pcwer Corporation after closing the sale end through completion of the unit?
If the total estiated cost to complete the unit (per iten 1 above) exceeds the total dollar contribution to be rade by the additional participants, provide a detailed explanation of the source (s) of funds to finance the difference.
Indicate the nature and amount of the additional source (s), if any, and indicate the assumptions upon
-which the ability to raise such funds is based.
5.
Provide a _ list of the additional participants.
Indicate their re-spective cenership s, hares in the facility and the dollar contribution to be made. by each at closing of the sale.
Also indicate the estimated :dditional total dollar contribution to be made by each participant-through the congletion of the unit.
G.
For each nunicipal and coopcrative electric system applicant, iden--
tify the sources upon which the applicant plans to rely for the funds necessa'ry to pcy the total cost of its ownership share in the subject facility and the enou.nt to ba obtained from each source. The sumution of, these sources should equal the total contribution of each applicant through the year of ceipletion of Crystal River Unit 3.
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7.
Provide copies of excerpts frca state statutes on which each tunicipal and cooperative electric syste:a is relying as authority to issue revenue bonds, eeneral oblication bon"s, or other forms l
of indebttdness and to take other actions necessary to acquire cwnership si. ires in thc cubject facility.
Also, tu b.it copies of municipal ordinances, rt. solutions, regulations, or documents of a
.1 s1mla r nature whi c.1 Derm t eac,n of the municipal and cooperative electric syste.1 applict.nts to use public or ccoperative funds for acquirir.g o. r,.rship snares.
8.
Is ecch 2.cditir nl participant's percenta':e c.
ership share in the facility equal to its percentage entitlement in the electrical cap:: city and outcut. of the plant?
If not, explain the difference (s) cad an.f resuittnt cffect en ny pertici; ant's obligation to provide i
its s.r.are or desv.n an:,. construction costs, and its share of oper-atinD cost subsequcnt to the completion of the unit.
9.
Explain the precedure to be used by Florida Pcuer Corporatica for bl, ling the additicnas participants 1cr constructica progress pay-l i
rents subsequent to closing.
This r.ay be answered by reference to pertiner.t portions of an agreex ent between iT.e parties that is sub-miticd ir. suppcrt of the applicatien.
10.
Provide ccpies of the final "Participatier. Agrec.mnt" including cil exhibits referred to therein, none of which,2re attached to the prolinir.ary subission.
Provide copies of s nj ether final docum ats of ccnwyc n:c of the c=.;rership interest (referenced in the prelininary Particip: tic 1 Agreement, Section 1.b. ).
In addition, the Cc aission will rcquire executed copies of the above agrecrents subscquent to the closirg of the sale.
11.
Provide the following for each rcunicipal and ccoperative applicant (a) Co;)ies of the cost recent annual financial stcten.2nts.
Continue to sutnit copies of the cnnual fintncial state:ntnts ror each year j
thereaf tcr r.s rar,uired by 10 CFR D.7i(b).
(L) Copies of the most recent interin financial state:1.c a t s.
i j
12.
Provide the follcuing fcr Florida Pc.;er Corporation:
(a) Ccpics of the 197J in.uci Report to Stockhalders and copies of the prospectus for the co~,,any's most recent security issue.
Pro-l vide copies of the prelimir.n y prcspectus for cny rending security issue.
Continue to s"Lnit copics of tne Annual Report for each year thereaf ter as requircd by 10 C'rR 50.7)(b).
I (b) Copies of the 19751st quar'er (and 2nd quarter, whcn available) incere and retained earninD statcr.nts and balance cheet.
Provide the saua staic:'.ents for the inst reccnt 12 rant hs period Also pro-vide copies of similar statc::ents for the corresponding periods ended in the prcvious year.
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v CP - Page 3 13.
Provide the following for any additional applicant that is an in-vestor-o.ined utility (other than Florida Power Corporation): -(a) copies of the 1974 annual report-'.zith financial statements (b) copics'~of income and retained earnings statements for the most re-cent twelve months'. period and balance sheet dated as of the end of
.the same period.
Copies of similar state: rents for the corresponding 3
t':cive tr.onths' period ended'in the previous year should also be sub-mitted; (c) presnettus for the r.ost recent security issue; (d) tcost recent Officer's Certificate or ;;et F.arr.in;:s Certificate prepared in connection with the issuance of artgage bonds or debentures cr.d showing interest coverage and debt ratio calculations pursuant tc
.the applicable indenture;'(e) calculations of interest coverace for the most recent twelve months' pcriod using the definitions of net earnirigs and annual. interest requirements (en debt presently out-stcnding) set forth in the r.ortgace bond indenture.
Assuming a rar.ge of interest costs considcred realistic, state the additional amount of first mortgage bonds which could be issued based.cn net earnings as defined by the indenture for the most recent twelve months' period; (f) the attached schedule titled, " Sources of Funds for--System'ide Construction Expendiwres Daritig Peried of Construc-
. tion of Subject ibclear Foxer Piant,"
completed through the earlicst year.in which the facility is expected to be completed.
Provide a cietailed explanation of the assu:.:ptions upon which the Sources of funds Statement is based.
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OL - Page.1 5
m cLosun7 2 REQUEST FOP /CDITIO::AL FINANCIAL II FCR:'ATION -
.OPERATH:3 LICENSE CRYSTAL RIVER UNIT 3 DOCRET I;0. 50-302 1.
Indicate the estimated annual costs' by year to operate the subject facility. for the first five years of comercial operation.
The types
.of costs included in the estir.w shculd be indicated 2nd should in-clude (Lut not neccssarily lir.iited to) cperation and maintenance exp_Lnses with fuel costs sho':n separately, deprecietion, taxes, and C
trequirtd return en investrent.
(Attached is a form which should be uscd for each year of the five-year period.)
Indicate the projected plant capacity factor for each year.
)ndicate if Florida Pcwer Corporation (FPC) and the additional par-ticipants exp2ct to be able to sell power produced by the suSject facility at rates which will cover all costs of. production plus a reasonabic return cn investment.
Indicate the unit price per P.'H experienced on FPC's syste:n-wide sales of-efectric power to al'. cus-to:.;ers for the most recent 12 months' period.
2.
Indicate the esticated costs of permanently shutting down the facility, a listing of what is included in such costs, the assu:7tions c::de in estir.ating the costs, the ty;.e of shutdown contemplated, and the source of funds to cover these costs.
3.
Provide an estimate of the annual cost to r:aintain the shutdown fac-ility in a ssfe condition.
Indicate what is included in the estirut.e, assu a tions cade in estinating the costs, and the source of funds to cover these costs.
4.
provide a statement indicating the. additional particirants' commite.ent-to prcvide their respective shr.res of all operating expenses for Crystal River 3 regardless of th0 level of poucr availability fro:a the : nit, and to provide their respective shares of expenses 'or per.ranent shut-
- down of the unit and maintenance in a safe condition should that beccae necessary. ' Reference pertinent previsiens of the Participatien Agree-
-rent or other atjrcen.ent between the. parties which affirm this cermittent.
Provide copies of such agreement (s) if not done so previcusly.
5.
Indic;cte the sources of funds to cover expenses in item 4 ebove.
h'ha t assurances do the additional participants hr.ve that they will be able to'gdnerate revenues sufficient to cover their respective shares of Crystal-River Unit 3 op: rating expentes, including the possibility that such expenses will escalate?
b is.
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T.- - -,
OL - Page 2 6.
Explain the procedure to be used by Florida Poeter Corpnration for billing the additional-participants for their respective shares of the total tanthly operating costs of the unit.
This r:av be answered by reference to pectinent portions of an agrecrent betut.cn the
- parties that is suhr.litted in support of the cpplication.
Indicate differences, if any, between each participant's ownership percentage in the unit and its entitlement percentage in the elec-
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trical cap: city and output of the plant.
If there art such differences, what. is th2 effect en the applicant's percentage responsibility in the operating expenses of the unit?
7.
Provide the following for Florida Power Corporation:
a.
Copics cf the mast recent interia fir.cncial statements and pro-spectus if they are more current than those sub:iitted in response to the CP requcst.
b.
Describe the nature and amount of the co::pany's rmt recent'rai.e relief action (s) and its anticipated effect on earnings.
Provide copies of the rate order and opinicn.
In 6ddition, indicate the nature end amount of any pt-nding rete rclici action (s).
Use the attached fora to provide this inforr.ution.
c.
Complete the attached form entitled 'Finarcial Analysis" for a:e e
years ended December 31, 197', and D6cember 31, 1973.
8.
Provide ccpies of the roast recent interm financial sin, nts for each additional participant if they are nore current than those sub-uitted in response to the CP request.
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"s "ATTACR4EHT FOR Cil ITDi UO.1" l.a-u. c.m m...;.
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Ib in t e n a n c c e x p e n s e s.......................................
Total nuclear po er generation.................
T r a n : n i s t. i c a e x p e n s c 0........................................
./_.d_t._i n_.i.r. t.rn.t._ive a n_i___"..: n c ra l e x.n_e_.n._s e s
. Prop er t y n nd liabili: y ins u ra: e e...........................
O L b r /.. /. C. e x p a n s e c............................
TcLal A.LG. e :. p e r c e..................................
- c.0.., t O c,u.
2 in y
L..,.pp..p.,S....................................
.... 2 c.
DeprCCintien c770000............................
.In x.e s_.. >.t h_.a__r_.t_h a n_._i n c o.-*.c t ar:e s
~~ Property taxes...
Other............,.....................................,......
10tal tan:ec ot.ner t.ilan I n conc ta :es...................
} n C O C c t a x e n - : c d e r n l.........................................
I n c o :a e t a x e s - o t h e r....................,.............,...,.,..
De f e r r e d incer e t ax es - ?.e t....................................
Invcht tent tax credi t adjustnent :. - net........................
Icturn (reite of retuin:
%).........
1 TOTAL ANNUAL COST 0" OPr"ATION
> =. _.. _ = = =
1 l
u i
h.
.L J "Al~' tie:;T FCR OL ITEM !!O. 7.b."
I RKfE DEVELOMIE1;TS
- /
Electric Gas Steam 4
r l
Gra6ted*-
f.
I.nnual amount - test year. basis (000's)
Percent ir.:recte zEf fective c' ate l
Rate of return on rate base authorized Rate of return ca cc:, con equity authorized 1
Y Revenue Ef fect (_00's) c
/ count receivcd in year granted
//r.ount recei4 ed in subscquent year
/
~
j f
i i
Pendinc Re~uests i
i-j-
/ count (009's)
[-
Percent increase Date filed.
i-Date Ly which decision tunt be issued I-Rhic of return on rate base requested Rate.of return on cc'=on equity requested
[
- l'rovide copy of latest rate orber 4
t.
7
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=,a.,,
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i.*i FIlUdCIAL' /WALYSIS
+
- a.
r.a..
+
1974 1973 fdollars in millions n
.Larnings :evailable. to ccmon' equity kverige cc=on equity -
!! ate of 'rcturn cn a erege ccTcaon equity liet 'incom; '!dfore total interest charges Total inte::tst charges Time ntotal intercht charges earned I et incie before total interest charges Interest ca long-icra debt Times.long-tett -interest charges earnedC Gross in crie after tu,es
~
' Total-interest' charges 1, preferred dividends
' Preferred stech cccerage**
/JUDC llet inco:.e af ter preferred dividends
[0pertti.ngexpentes-(lessdepr.&totaltaxes)
^
' Operat.in;; revemes Opera in.; ratio I'.crhet price of -co non-
! 00k value of-cc:=on
' lbrlict-back ratio-Cash earnircs arcilable for co=0..
>Comon dividends-1
. Ra ti o '
Capitalizction
(.k.. wu n t & Perceur)_
Long-tcrn debt.
-Preferred stock
.C6;non equity 3Phovide-latest I etqEarnings Certificate showin;; i':tcrest coverage calculaicd in
.accordance uith the.provisionsfoi the eart; ape cnd/or debenture indenture-together 4
- with a co,fiy of the ind6nture(s).
T A11-:the Cm romle: Charter centains a prefer cd stock-coverage requirement, provida
-that portien,which cws how such coverage is to ba calculated.
.y 3
~ V(INLa 2.
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