ML20010J582

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Response to Financial Qualification Discovery Requests. Certificate of Svc & Tables Showing Redemption Schedule & Estimated Costs of Facility Encl
ML20010J582
Person / Time
Site: Wolf Creek Wolf Creek Nuclear Operating Corporation icon.png
Issue date: 09/29/1981
From:
KANSAS GAS & ELECTRIC CO., SHAW, PITTMAN, POTTS & TROWBRIDGE
To:
KANSANS FOR SENSIBLE ENERGY
Shared Package
ML20010J580 List:
References
NUDOCS 8110050373
Download: ML20010J582 (18)
v • d • e


Text

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l' i r September 29, 1981 UNITED STATES OF AMERICA NUCLEAR REGULATORY COMMISSION i

BEFORE THE ATOMIC SAFETY AND LICENSING BOARD In the Matter of )

)

KANSAS GAS AND ELECTRIC COMPANY ) Docket No. 50-482 I et al. )

)

(Wolf Creek Generating station, )

Unit No. 1) )

APPLICANTS' FURTHER RESPONSES TO FINANCIAL QUALIFICATIONS DISCOVERY REOUESTS OF INTERVENOR KASE Interrogatory 6 I

(a)

6. What are the applicant's estimates of revenues, fuel i

. costs, depreciation, income texes, net income before

! and after taxes, new loans, loen payments, amounts l

l and terms of bond issues, and amounts and terms of common and preferre6 stock issues for each of the i

following years: 1981, 1982, 1983, and 1984?

i

, (b) State if the applicant has any documents relating to i

(a) and identify them.

I a

4 8110050373 810929 PDR ADOCK 0500048 PM g

Response

KG&E l

6. (a) Estimates for these parameters are available for 19(1 and 1982. At this time, KG&E does not have similar projections for 1983 end '484. These values are as follows (in $000's):

1981 1982 Revenues $304,395 S330,898 4

Fuel Expense 125,979 145,868 I Depreciation 26,775 27,563 Income Tex 5,764 3,404 Net IncoT.e--Before Tax 66,640 76,757

. Net Inco.ne--A f ter Tax 60,876 73,353

, The above estimates reflect conditions which were current as of the first quarter of 1981. Circum-

! stances and assumptions may presently not be the

- same. KG&E's new financing, to date hereof, for the year 1981 is as follows: $25 million Banker's l Acceptance Facility; S30 million S15.50 Serial Preferred Stock issuance; 2 million shares of Common i Stock, representing $27.44 million; $30 million, 14 l

! 7/8% Series First Mortgage Bonds; $30 million i

j Letter-of-Credit backed commercial paper fecility; and a $10 million, unsecured, 5 y<zr promissory note at 18% per annum. A loen redempt ion schedule for current ir.febtedness is attached. As to other future t

financings, KG&E anticipates additional finencing l will be needed; however, the types, emounts and I

timings of subsequent financings will depend on market conditions, adequacy of future rate relief and 4

l other factors effecting financiel position and

}

results of operations.

l (b) 1981 and 1982 Budgets, approved as of February 14, 1981; Attached Preferred Stock and Bond Redemption j Schedule; Closing documents pertaining to new i financing.

KCPL 1

6. (a) Estimates for these parameters are available for 1981 4

j and 1982. At this time, we do not have similar projections for 1983 and 1984. These values are as follows (ir 5000's):

1981 1982 Revenues $469,858 S502,664 Fuel Expense 157,506 171,603 Depreciation 45,568 46,621 Income Tax 26,133 38,420 Net Income--Before Tax 80,614 69,126 Net Income--After Tax 54,481 53,706 Net Change in Bank Loens (7,500) 32,000 Bonds--Issued Amount 50,000 40,000

--Interest Rate 14% 141

--Maturity 30 yr. 30 yr.

! Common Stock--Issued Amount S 42,000 $ 42,000

--Dividend / Share S 2.78 S 2.78 I --Price / Share $ 20.00 $ 21.14

} Preferred Stock--Issued Amount None None i --Dividend / Share -- --

)

'l

--Price / Share -- --

! (b) Mr. F.R. Pendleton's Exhibit No. 11, Schedule 3 in Missouri Cese No. ER-81-42 and Exhibit No. 11,

?

Schedule 3, in Kansas Case No. 127,486-U.

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KEPCo

6. (a) Wolf Creek will be KEPCo's first generating plant and it is scheduled for service in 1984. Until that time, KEPCo will have no fuel cost, depreciation or

! other operating expenses associated with plant ownership. Estimates of total revenue for KEPCo are

not available. Based on the assumption that Wolf Creek will commence commerciel operation on June 1, I

1984, and KEPCo's ownership share will be 195.5 megawatts, KEPCo estimates that, for the celendar '

year 1984, depreciation will be S5,731,623 and fuel j costs will be S4,452,583. Estimeted income tex is not available. Presently KEPCo has a loan appli-cation pending before REA for $443,600,000. We do not anticipate any loan repeyments in 1984.

(b) KEPCo's response is based on feasibility studies performed by Southern Engineering Company of Georgia i

in 1980, with the essumption that FEPCo would i

l pucchase a 17% interest in Wolf Creek Genereting i

Station, Unit No. 1, with a conctruction cost of $1.7 billion and en interest rete of 121. Any devietion l from the facts assumed in the studies will effect the

applicability of the studies' findings. An addi-I tional feasibility study is now ongoing which will l impact the responses to this interrogatory. KEPCo I

! Loen Applicetion to REA.

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Interrogatory 8

8. (a) Describe in detail for the applicant's corporation the applicant's estimates for each of the years 1985

- 1995 of the following: (1) revenues from the sale of electricity; (2) cost of coal, natural gas, and uranium fuels; (3) interest rates for new bonds to ,e issued by the applicant end interest rates for any loans made to finance operetions or construction; (4) operating costs other then fuel costs, interest, depreciation, and texes; (5) book depreciation end income tax deprecietion; (6) interest expenses; (7) income taxes; (8) net income before end after income taxes; (9) peak loads; (10) ennual rete of inflation used in prepering the estimetes; (11) amount of electricity rate increase requests; (12) expenditures for new plent and trensmission construction (List each plant); (13) book value cf electric genereting facilities retired from service; (14) cash proceeds from common stock issue; (16) cesh proceeds from issuance c? bonds; (17) cash proceeds from loenr; (18) payments to retire loans end bonds; (IS) number of kilowetts of electricity sold.

(b) Stete if the applicant has eny documents relcting to (a) and identify them.

t

Response

i KC&E

8. (a) With regard to 8(a)(1), (3) through (8), (10), (11),

(12), (14), (17), and (19), KG&E presently has no i

j current estimates available due to rapidly changing i

i circumstances and economic conditions. KG&E is presently reevaluating these areas with regard to l future forecasts. At such time as the information is i

available, it will be made available for review by counsel for Intervenor. It is anticipated that such

forecasts will not reflect conditions beyond approxi-mately 1990. Certain information included in the

, forecasts may be proprietary in nature end require appropriate protective orders.

(2) The costs of coal, naturel ges, end uranium fuels for the years 1985 to 1990 are found in EP l

Table 1.1-22.

(9) KG&E peak loed esti:aetes for the years 1985 to 1990 are found in ER Table 1.1.-l.

! (13) No generating facilities are scheduled for I

( retirement during 1985 - 1990.

(18) As to redemption schedules for current indebtedness, see KG&E's response to Interrogatory 6.

(b) Wolf Creek Generating Station, Unit No. 1, Environmentel Report (Operating License Stege) l i

I i

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4 J...

("ER"), a copy of which hzs been provided to ccunsel ,

i l for Intervenor under separcte cover. Redemption j

schedule provided in response to Interrogetory 6 with regard to (e)(18). See response to Interrogatory 18(b) with regard to (e)(13).

! KCPL i

! 8. (a) This data is presently undergoing revision. At such r

time es estimates become available, they will be provided for review by counsel for Intervenor.

(

) (b) Not applicable.

l KEPCC 4

8. (r) (1) Not available.

l

.i

(2) See Table 1, atteched.

! (3) Interest rates were estimeted to renge from 30 l to 14 percent.

(4) See Table 1.

(5) See Table 1.

(6) See Table 1.

(7) Not aveilable.

i I

(8) Not available.

(9) See Table 4, e copy of which hes been provided i

j to counsel for Intervenor under seperete cover.

(10) Inflation rates were estimeted to range from 6 l to 15 percent.

i (11) Not available.

(12) Not availeble.

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,-. . - . . . . . - - .~ .

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(13) Not available.

(14) Not applicable.

(15) Not applicable,

, (16) Not aveilable.

(17) S443,600,000.

j (18) See Table 1.

(19) See Table 3, a copy of which has been provided to counsel for Intervenor under separate cover.

1

(b) See KEPCo response to Interroaatory 6(b).

4 Interrocatory 9 ,

l 9. (e) List the applicant's estimates of the following for the plant for each of the years 1985 - 1995: (1) i 4

revenues from sales of electricity produced et the i

i plant; (2) fuel costs for the plant; (3) a listing of the amounts of other operating costs of the plant;

(4) kilcwetts of electricity sold from electricity l produced et the plant; (5) the percentege of cepecity i

l the plant was operating; (6) the cost per kilowatt of electricity produced at the plent; (7) the charges

! per kilowatt to customers for electricity produced et i'

the plant.

(b) State if the applicant has any documents relating to j

(a) and identify them.

2

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Response

KG&E and KCPL

9. (e) Information developed for KG&E end KCPL only exists in the ER, for the year 1987, except as noted below.

Independent of the ER effort, KEPCo and its nsult-ents developed feasibility studies concerning its involvement in the Wolf Creek project which conteined some of the information requested for the years 1985

- 1995. The assumptions on which these two estimetes were based may not be consistent.

(1) Estimated revenues are given in T: es S.1-1 and 11.1-1 for KG&E, KCPL, and KEPC.^

(2) Estimated Wolf Creek fuel costs in mils per kilowatt hour et 65 and 75% capacity fector are given in TcbJes 8.2-2 and 13.2-2. Projected nuclear fuel costs in cents per million ETU for KG&E and KCPl are given in Table 1.1-16 for 1985 end 1990, and Table 1.1-32 and 33 for 1985 through 1990. These later costs are bcsed on a 70% plant cepacity factor.

(3) Estimeted operating costs et Wolf Creek are given in Sections 8.2 and 11.2 and Tables 8.2-2 cnd 11.2-2.

(4) Estimated plent output over c renge of ccpecity fec' ors is given in Section C.] and Tables 8.1-1 al.d 11.1-1 for 1985, 1986, end 1987.

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(5) See responses to (2) and (4) ebove.

(6) The estimated cost of producing electricity et Wolf Creek is discussed in Sections 8.2 end 11.2

. and Tables 8.2-2 and 11.2-2.

(7) The information requested is not aveilable since such costs are not celculated on a per plent basis. In addition, see the responses of KG&E and KCPL to Interrogatory 8(a).

(b) The ER, which has been providec~ to counsel fcr Intervenor under separate cover.

KEPCo

9. (e) The 1980 feasibility study was updeted to reflect current estimates. Table 1, etteched, reflects the presently availtble information.

(1) See KG&E and KCPL's response.

(2) See Table 1.

(3) See Table 1.

(4) See Table 1.

(5) See KG&E and KCPL's response. Table 1 values are besed on a 75% capacity fector.

(6) See KG&E end KCPL's response.

(7) Not evailable.

(b) The ER has been provided to counsel for Intervenor under separete cover. Table 1, ettached.

_ . _ . _. _ _ . _ _ _ _ _ _ . . . . - = _ _ _ _ _ . _ _ . . _ _ . _ . .. .

1 UNITED STATES OF AMERICA NUCLEAR REGULATORY COMMISSION i

i EEFORE THE ATOMIC SAFETY'AND LICENSING BOARD t

I i In the Matter of )

)

! KANSAS GAS AND ELECTRIC COMPANY ) Docket No. 50-482 I

at al. )

! }

l (Wolf Creek Generating Station, )

Unit No. 1) )

l.

AFFIDAVIT OF GENE P. RATHBUN

State of Kansas )

l  : ss l County of Sedgwick )

I GENE P. RATHBUN, being duly sworn according to law, deposes and says that he is the Manager-Licensing of Kansas Gas and Electric Company, and that the information contained in i

" Applicants' Further Responses To Financial Qualifications Dis-j covery Requests of Intervenor KASE" is true and correct to the

{

best of his knowledge and belief.

i l

Gene P. Rathbun Manager-Licensing 4

Subscribed and sworn to before I

me this day of September, 1981.

i Notary Public l

My Commission Expires:

i

)

September 29, 1981 UNITED STATES OF AMERICA NUCLEAR REGULATORY COMMISSION i

BEFORE THE ATOMIC SAFETY AND LICENSING ECARD l

In the Matter of )

! )

KANSAS GAS AND ELECTRIC CCMPANY ) Docket No. 50-482 et al. )

, )

(Wolf Creek Generating Station, )

, Unit No. 1) )

CERTIFICATE CF SERVICE I hereby certify thet copies of "Applicents' Further I Responses To Financiel Qualifications Discovery Pequests of Intervenor KASE" were served upon those persons on the etteched

} Service List by deposit in the United States meil, postege I

prepaid, this 29th day of September, 1981.

i I

i ll1 k2. ira)n>>

'7Delisse4.Ridgdeyg/

l Deted: September 29, 1981 l

I

}

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11 1

9 UNITED STATES OF AMERICA NUCLEAR REGULATORY COMMISSION 3efore the Atcmic Safety and Licensinc Board In the Matter of )

)

KANSAS GAS AND ELECTRIC COMPANY, _e _t _a _l . ) Cccket No. STN 50-482

)

(Wolf Creek Generating Station, )

Unit No. 1) )

SERVICE LIST -

James P. Gleason, Esquire Kent M. Ragsdale Chairman General Counsel 513 Gilmoure Drive Missouri Public Service ~Ccmmission Silver Spring, Maryland 20901 P.C. Box 360 Jefferson City, Missouri 65102 Cr. George C. Anderscn Cepartment of Cceanography Treva J. Hearne, Esquire University of Washing cn Assistant General Counsel Seattle, Washington 98195 Missouri Public Service Ccmmission P. O. Box 360 Cr. J. Venn Leeds Jefferson City, Misscuri 65102 10807 A well Ecus:cn, Texas 77096 Eric A. Eisen, Esquire Birch, Ecrton, Bittner & Monrce Myrcn Karman, Esquire 1140 Connecticut Avenue, N. W.

Ceputy Assiscan Chief Washington, D. C. 20036 Hearing Counsel Office of the Executive C. Edward Peterson, Esquire Legal Director Assistant General Counsel U. S. Nuclear Regulatory Commission Kansas Corporation Commission Washington, D. C. 20555 State Office Building - 4th Flcor i Topeka, Kansas 66612 l Atemic Safety and Licensing Board

U. S. Nuclear Regulatory Commission John M. Simpson, Esquire l Washinc:cn, -

D. C. 20555 4400 Johnson Drive Suite 110 t

Shawnee Mission, Kansas 66205 A cmic Safety and Licensing i A eal Scard l C. 'S '. Nuclear Regulatory Ccmmission Washington, D. C. 20555 f

1 Ccc%eting and Service Section Office of the Secretary l U. S. Nuclear Regula: cry Ccmmission Washington, D. C. 20555 l

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7/13/31 RE DLIPT I O?: SCill: Dull Ref. i' e ,' "ef.

Year Preferred W.  !:otul ; No. Other l;o . To t.: 1 (000,000) (000,000) (000,000) (000,000) 1981 1 1 1 1982 1 1 12 10 13 1983 1 1 30.5 11 51.5 1984 1 1 1 1985 16 2 10 12 26 19S6 3 3 7 13 10 1987 12 4 36 14 43 1938 S.5 5 6 15 14.5 1989 S.8 6 6 15 14.8 1990 7.3 7 6 15 13.3 1991 7.3 7 13 16 20.3 1992 1.3 8 1.3 1993 1.3 8 1.3 1994 1.3 8 1.3 1995 1.3 8 1.3 1996 1.3 8 16 17 17.3 1997 1.3 8 1.3 1998 1.3 8 1.3 1999 1.3 8 1.3 2000 .3 9 35 IS 35.3 2001 .3 9 35 19 35.3 2002 .3 9 25 20 25.1 2003 .3 9 .1 2004 .3 9 14.5 21 14.8 2005 .3 9 40 22 40.3 2006 .3 9 25 23 25.3 2007 .3 9 56.9 24 57.2 2008 .3 9 30 25 30.3 2009 .3 9 .3

REFERENCE INFOR{tATION FOP REDEMPTION SCllEDUI,E Preferred

1. $2.42 Preferred Sinking Fund Redemption of 40,000 shares at $25/ share

($1 million).

2. $2.42 Preferred Sinking Fund Redemption of 40,000 shares at $25/ share

($1 million). Tatal Redemption of $8.00 Series Preferred ($15 million).

3. $2.42 Preferred Sinking Fund Redemption of 40,000 shares at $25/ share

($1 millien). Sinking Fund Redemption of 20,000 shares of the SS.25 Series Preferred ($2 nillion).

4. $2.42 Preferred Sinkin;; Fund Redemption of 40,000 shares at $25/ share

($1 nillion). Sinking Fund Redemption of 50,000 shares of the $8.25 Series Preferred ($5 nillion). Sinking Fund Redemption of 60,000 shares of the $15.50 Series Preferred ($6 million).

5. $2.42 Preferred Sinking Fund Redemption of 40,000 shares at $25/ share

($1 million). Sinking Fund Redempt ion of 15,000 shares of the $8.25 series Preferred ($1.5 million). Sinking Fund Redemption of 60,000 shares of the $15.50 Series Preferred ($6 million).

6. $2.42 Preferred Sinking Fund Redemption of 40,000 shares at $25/shara

($1 million). Sinking Fund Redemption of 15,000 shares of the $8.25 Series Preferred ($1.5 million). Sinking Fund Redemption of 60,000 shares of the $15.50 Series Preferred ($6 million). Sinkin ; Fund Redem) tion of 3,333 sl. ares of $8.125 Series Pref erred ($333,300) .

7. $2.42 Preferred Sinking Fund Redemption of 40,000 shares at $25/ share

($1 million). Sinking Fund Redemption of 60,000 shares of the $15.50 Series Preferred ($6 million). Sinking Fund Redemption of 3,333 shares of $8.125 Series Preferred ($333,300).

8. $2.42 Preferred Sinking Fund Redemption of 40,000 shares at $25/ share

($1 million). Sinking Fund Redemption of 3,333 shares of $8.125 Series Preferred ($333,300).

9. Sinking Fund Redemption of 3,333 shares of $8.125 Series Preferred

($333,300).

Bonds

10. Retirement of 3 3/8% Series ($12 million).
11. Retircment of 3 5/83 Series ($10 million). Ref undin;; of Itu r] in,; ton Pollution Control Bonds 7 1/4% Series should be reissued for 27 more years (S25.5 million). Retirenent o f b' amer.o Po l l u t ion co n t ro l 1tond s 61/2% Series may be abic to be reissued for 27 more years ($15.0 million).

Itond s

12. Retirement of 3 3/8% Series ($10 million).
13. Retirement of 3 3/8% Series ($7 million).
14. Retirement of 16 1/4% Series ($30 million). Sinking Fund Redemption of 14 7/S% Series ($6 million).
15. Sinking Fund Redemption of 14 7/8% Series ($6 million).
16. Sinking Fund Redemption of 14 7/8% Series (S6 million). Retirement of 4 5/87. Series ($7 million) .

I

17. Retirement of 5 5/8% Series ($16 million). l i
18. Retirement of 8 1/2% Series ($35 million).
19. Retirement of 8 1/8% Series ($35 million).
20. Retirement of 7 3/8% Series ($25 million).
21. Retirement of 6.8% Series ($14.5 million).
22. Retirement of 9 5/8% Series ($40 million).
23. Retirement of 8 3/8% Series ($25 million).

. 24 Retirement of 8 1/2% Series ($25 million). Retirement of 67. Series

($10 million). Retirement of 5 7/8% Series ($21.9 million).

25. Retirement of 8 7/8% Series (;30 million).

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TABLE 1 i

l KANSAS ELECTRIC POWER COOPERATIVE, INC. l l

Estimated Costs for Wolf Creek Unit #1 l

1985 1986 1987 1988 1989 Energy Generated - GWII 941.9 1,133.7 1,286.1 1,279.3 1,281.0 l Interest Payment 12% $(000) 47,163.1 47,163.1 47,163.1 47.163.1 47,163.1 Principal Payment $(000) 0 0 0 0 0 Depreciation $(000) 15,721.0 15,721.0 15,721.0 15,721.0 15,721.0 Insurance $(000) 2,004.4 2,004./ 304.4 2,004.4 2,004.4 Taxes $(000) 6,760.0 6,760.0 6,762.0 6,760.0 6,760.0 Fixed 0 & M $(000) 1,208.0 1,292.0 1,382.0 1,478.0 1,582.0 A& G Expense $(000) 705.0 783.0 839.0 899.0 962.0 l Working Capital $(000) 135.7 169.4 199.9 211.2 228.3 Materials & Supplies $(000) 599.6 599.6 599.6 599.6 599.6 Fuel Cost $(000) 6,819.0 8,809.0 10,597.0 11,155.0 72,093.0 Variable 0 & M $(000) 422.7 566.8 694.5 742.0 794.2

Page 2 g i TABLE .

KANSAS ELECTRIC POWER COOPERATIVE, INC.

Estimated Costs for Wolf Crcok Unit #1 I

l 1990 1991 1992 1993 1994 1995 Energy Generated - GWH 1,281.0 1,281.0 1,281.0 1,281.0 1,281.0 1,281.0 Interest Payment 12% $(000) 47,163.1 47,163.1 46.915.8 46,638.8 46,388.5 45,981.1 Principal Payment $(000) 0 2,066.0 2,308.2 2,585.1 2,835.5 3,242.9 i

l Depreciation $(000) 15,721.0 15,721.0 15,721.0 15,721.0 15,721.0 15,721.0 Insurance $(000) 2,004.4 2,004.4 2,004.4 2,004.4 2,004.4 2,004.4 l l

Taxes $(000) 6,760.0 6,760.0 6,760.0 6,760.0 6,760.0 6,760.0 Fixed 0 & M Cost $(000) 1,693.0 1,812.0 1,939.0 2,074.0 2,219.0 2,373.0 A& G Expense $ (000) 1,027.0 1,102.0 1,179.0 1,260.0 1,349.0 1,443.0 Working Capital $ (000) 255.3 306.4 362.1 418.7 459.5 503.7 Materials & Supplies $(000) 599.6 599.6 599.6 599.6 599.6 599.6 l Fuel Cost $(000) 13,694.0 16,781.0 20,381.0 23,289.0 26,376.0 29,040.0 Variable 0 & M $(000) 845.5 909.5 973.6 1,037.6 1,114.5 1,191.3 l

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