ML19329B068
| ML19329B068 | |
| Person / Time | |
|---|---|
| Site: | Davis Besse  |
| Issue date: | 04/17/1978 |
| From: | Maugans E CLEVELAND ELECTRIC ILLUMINATING CO. |
| To: | Saltzman J Office of Nuclear Reactor Regulation |
| References | |
| NUDOCS 8001300666 | |
| Download: ML19329B068 (3) | |
Text
m THE CLEVELAND ELECTRIC ILLUMIN ATING COMPANY ILLUMINATING 6 LOG. e PUBLIC SQUARE e CLEVELAND OMIO 44101 e TELE PHONE t216) 6231350 e MAIL ADORESS PO BOX 5000 Serving The Best Location in the Nation Edgar H. Maugans VICE RESiCENT & COPef ACLLER April 17, 1978 k:
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Jerc=e Salt:=an, Chief
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Antitrust & Indemnity Group Nuclear Reactor Regulation L
r-Nuclear Regulatory Cc= mission 2
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Washington, D.C.
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Re: Decket !!o. 50-3h6 C3 Retrospective Premium Guaraniee
Dear Mr. Salt =an:
The Cleveland Electric Illuminating Cc=pany hereby prcvides the documents described below and enclosed herewith as evidence of its guarantee of itc share ($5,138,000) of the retrcspective premium which may be levied against the Davis-3 esse Unit No.1 reactor licensees during calendar year 1978.
1.
The Cleveland Electric Illuminating Cc=pany 1977 Annual Report which includes certified financial statements for tha calendar year 1977.
2.
The Cleveland Electric Illuminating Cc=pany 1977 Fourth Quarter Quarterly Review which includes financial statements for the quarter ending December 31, 1977 (the 1978 First Quarter Quarterly Review is not yet available).
3 An Estimate of Cash Position And Scurce Of Funds for Calendar Year 1978 fer both operatiens and Ccnstructicn Prcgra=, acecm-panied by underlying assu=ptiens, showing a cash balance at year end even if the Cc=pany's maxi =um pemissible retrospective premium is required to be paid during the year.
Accordingly, The Cleveland Electric Ill'M rating Cc=pany believes that it vill not have to curtail any part of its planned 1978 ccnstruction program expenditures 6 ' ring 1978 shculd it be required te pay any retrespective premium in the a= cunt of $5,138,000 at any-ine during the year.
Sincerely, b-4
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Edgar h Maugans Enclosures 71ce --.sident & Centrc r cc: Ecnald G. Nichclecn p
f Vice President, Finance o
Toledo Edisen Cc=pany 4
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'(1) Includes proceeds from 1977 financin6 for construction purposes in 1978.
(2) Includes depreciation and adjustment of accrued items to cash. Excludes retained earnings en the assumption that, contrary to ec=pany expectations, all 1978 earnings after taxes will be paid out in dividends.
(3) Based on 51 38% undivided tenant-in-common ownership interest in Davis-i Besse Unit No. 1.
(l+) In anticipation of expected future construction program permanent financing.
Certificaticn I, Edgar H. Maugans, Vice President & Controller of The Cleveland Electric Illuminating Ccmpany, hereby certify that the fore 6cing Estimate of Cash Ebsition and Source of Fur.ds for Calendar Year 1978 is derived frem accurate data and reascnable assumptions and is a reasonable estimate.
I April 17, 1978 d'V^
h" Edgar H.
augans
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