ML19345A691
| ML19345A691 | |
| Person / Time | |
|---|---|
| Site: | Yankee Rowe, Haddam Neck |
| Issue date: | 08/10/1978 |
| From: | Acheson E ROPES & GRAY |
| To: | Dinitz I Office of Nuclear Reactor Regulation |
| References | |
| NUDOCS 8011240566 | |
| Download: ML19345A691 (4) | |
Text
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c ropes & GRAY 225 FRAN KLIN STREET BOSTON 02110 as6Ea==ar55 RODGRALCC amEa C OOt 617 423 6 00
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August 10, 1978 I'r. Ira Dinitz Antitrust and Indemnity Group O.
I;uelear Reactor Regulation d
U.S. I!uclear Regulatory Commission Washington, D.C.
20555 Re:
NRC Regulations Concerning Price-Anderson Act Retrospective Insurance Premiums Dear I.'r.
Dinitz:
Enclosed please find two original and fully executed letters from all sponsors of Yankee Atomic Electric Company and Connecticut Yankee Atomic Power Company respectively to those licensees containing the sponsors' commitment to pay their respective percentages of any retrospective premium assessed.
Should you have any questions or comments concerning either of these letters or any other aspect of this matter, please do not hesitate to telephone me.
Very truly y s,
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5%4" Elehnor D. Acheson EDA:ad
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Yankee Atomic Electric Company 20 Turnpike Road Westboro, }kssachusetts 01581 Re: Price-Andersca Act Retrospective Insurance Premiums
Dear Sirs:
You have advised us that:, pursuant to the provisions of the 1975 Amendments to the Price-Anderson Act and'to the regulations promulgated by the United States Nuclear Regulatory Commission ("NRC") to implement 1
that statute, you are required, as the holder of an NRC Operating License, to demonstrate to the NRC your ability to pay on a timely basis the maximum annual assessment of $10,000,000 for potential deferred retrospective premiums.
In this connection, you have entered into separate binder agreements, dated as of August 1, 1977, under the Master Policy - Nuclear Energy Liability Policy (Secondary Financial Protection) with each of the two groups of insurance companies providing such' insurance, by which binders you have obligated yourself to pay any such deferred retrospective premium assess =ent.
We, along with your other sponsors, have endorsed upon those binders our several obligations to pay our respective percentage of those assessments if you fail to pay such sums when due.
This letter confirms our understanding with you that any such retrospective premium assessment when assessed by the NRC, or by the insurance groups' acting on its behalf, would constitute one of your
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" operating expenses" within the meaning of the Power Contract, dated June 30, 1959, as revised April 1,1975, between you and each of us.
As such, our respective percentage of those assessments would be properly billable by you and payable by us'in accordance with our respective Power Contract.
i We understand that you will deliver a copy of this letter to the NRC in connection with their evaluation of your ability to meet your retrospective premium obligations and that the NBC will be relying upon this confir=ation in connection with that evaluation.
New England Power Company Public Service Company of New Hampshire
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.Y REGULATORY INFORMATION DICTRIDUTION SYSTEM (RIDS)
DISTRlDUTION FOR INCOMING MATERIAL O
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/213 EC: DINITI I ORG: ACNENSON E D DOCDATE: 09/10/79 NHC ROPES & GRAY DATE RCVD: 08/15/78 DCTYPE-LETiER NOTARIZED: NO COPIES RECEIVED LTR 1 ENCL 2 U :MECT :
- 'PtJARDING L1RS FROM ALL '3POiJSORG OF YANKEE ATOMIC ELEC CO AND CN YANKEE
.f 0NIC PUR CO RESPSECTIVELY TO THOSE LICENSEES CONTAINING THE SPONSORS",_
3 Cor1MITr1ENT TO PAY THEIR RESPECTIVE PERCENTAGES OF AN RETROSPECTIVE T:E t11UM ASSE '; SED ' A/P.C.
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HADDAN t'ECK DICTRIBUTER INITIAL:
..s # 4.c.r o # o.. : a lilSTRIRUTION Oc THI? t1ATERI AL IS AS FOLLOUS n a **************
I N 30Fi:t DE: INDEMNITY /ENDORSENENT AGREEt1ENTS (DISTRICUTION CODE F1001)
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