ML20041C899

Forwards Revised Page 3 of Ma Municipal Electric Cooperative General & Financial Info & Wa Electric Cooperative Exhibits 5 & 6 Updating Cost Estimates Re Proposed Interest Purchase

ML20041C899
Person / Time
Site:	Millstone
Issue date:	02/24/1982
From:	Small P DAY, BERRY & HOWARD
To:	Youngblood B Office of Nuclear Reactor Regulation
References
NUDOCS 8203020646
Download: ML20041C899 (6)

Text

1. ]

i . s to"?, :'". ".. "'*"[0 ';."e'."fitt. DAY, BERRY & HOWARD %fe"I'. ** *c".* e..w **l"v'*;^.* ~."T.";*

- "w'*[EmM((,'.'I. e'.Y[.$(( d"* '"' COU N S E L LO R S AT LAW s rEA na$ Yoo[adsY

c. puA=s su== noss=, e vetus

• Eb4lEIET A. eee4LIS. Jet PAUL r setALEasesty d'* 8'm"?

E A. "e.0"'"OALCo Am J o**"S"A**

MA *C p"e E m weLua= a. eLv==

6 mLuJa s eeeets. sm-Ales =v a AaAn'**

somm m.moLA=

HARTFOWJ O'FICE som s. wavoam sAuss a sess=. sa.

ON E CONS G EUTION PLAZA cratch s. ne Aeos J. asset enecetrer nAYo c. caIneseAme, so. es L Acs"sn A H ARTFORD, CC.'eN ECTICU T OSIO3 [ ',*,* ' Q *,",55 [y,8 8 ',",Ja",'",',"-~*

sAes:ma m. escesevoses osmAto oAaresto TE. E PHON E (203) 278-1330 osA= se conoiAno eeLan s semiseosa oAac e .SusstLL mecesAmo c.eeeengesses mAvesown a.eassee aossono so. ess TELEX 99324 esoes c. avAma stavs ee e. w Amoouse temorne s- cunov f astsA so. parvase sauna e eramLt'ose TwouAs m.wstoneA" OAmav se. econvow mece.As k c. pou=re c Am"Las [o a = I'Am"* e L. su "o STAM FORD OFFICE BOSTON OFFICE ", ",8" ,wg t,v

{Af,,sl s g vi

_a,

, , , ,,,,s; peesus s. wALasa etsysse u. ras, TMAEE LAhomanet SQUAnt ONE POST OFFKE SOUARE ,,,,,,, ,,,,,,,, ,,,,,,w, t

esLLeAme M. CUDov TesouAs o. eaLL.J6.. STAseFORD. CONNECTICUT 0690s DOSiOM, M ASSACMUSETTS O2:09 seAseev pu aose wesent sowse A.oA=Amseg m se Lo DEoEmeCE J sS O S se 40 esAS 3 pg Mgm SAmA E stam J AMR2 eeA= Lose RosEp? J. MeLLER pauga L ACEV est AMaes seseEE n. motoesco J oAhrome Apteeo'ev, Je. As rs H.Lgnoat oA o E. Stusos e Lyse OAessesLL wagage LeMoA J. CASveOLsQesE GEORGE to. Cases PMskse u. See ALL Anav s. CoHEas steoser esammAn J. anucs soestums conoLAs w. estLetit cavao A. SWEmotore PEtam w. esoLess APRIL seAsNRLL E pMuMo C. A.TiNTAR4Ase oAv*o J. ELLeov7 AsCe*Apo J. wASSEmeeAse

?ebruary 24, 1982 'a='""*~~c"=

mmm oLCoTT p. sesstee ALLAse R. SMITee Director of Nuclear Reacror Regulation United States Auclear Regulatory Commission '

Washington, D.C. 20555

• g m

Attention: Mr. D.J. Youngblood, Chief Y%

Licensing Branch No. 1 MOfeif/ED Division of Licensing - -  !

Office of Nuclear Reactor Regulation .g :9 Gentlemen: Ta%01 y*2s a sh .~

Re: Mi;e.lstone Nuclear Power Station Unit No. 3  %

Docket No. 50-423 N-t i @N Construction Permit No. CPPR-ll3, as Amended Amendment to License Application and Application for Amendment to Construction Perm (t On December 30, 1981, Northeast Nuclear Eneray Company (the Company) filed an application with the Commission to allow the transfer of certain ownership int erests in Millstone Nuclear Power Station Unit No. 3. Included in the application was general and financial information for each of the four utilities proposing to purchase ownership interests in Millstone 3. It has come to the attention of the Company that two of the purchasers, Massachusetts Municipal Electric Cooperative (MMWEC) and WashingLon Electric Cooperative (WEC),

did not base their individual estimates of the cost of their purchase on the Conipany's most recent estimate of the overall cost of the Millstone 3 project. In order to update the individual cost estimates for those two purchasers, we enclose, on behalf of the Cot.npany, 21 copies of a revised page 3 of MMWEC's general and financial information and of WEC's Exhibits 5 and 6 and request that the pages be substituted for the counterparts on the application.

yery truly yours, L'as g) B :g &

PhiYip M. Small PMS: sam g encs.

cc:(w/encs) See Attached List. hpp7 O \

l i r203020646 820224 PDR ADOCK 05000423 I PDR

. s cc: John C. Ash Northeast Utilities Service Cccpany P.O. Box 270 Hartford, Connecticut 06103 Jane M. Grant Licensing Branch No. 1 United States Nuclear Regulatory Commission Washington, D.C. 20555 Madeline Rushbrook Licensing Branch No. 1 United States Nuclear Regulatory Commission Washington, D.C. 20555 Jim C. Petersen States Program United States Nuclear Regulatory Commission Washington, D.C. 20555 Bruce W. McKinnon Power Contracts Manager Massachusetts Municipal Wholesale Electric Cooperative Community Power Development Department P.O. Box 426 Ludlow, Massachusetts 01056 William J. Gallagher Vice President and Executive Manager Vermont Electric Generation and Transmission Cooperative Inc.

School Street Johnson, Vermont 05656 Harland G. Titemore General Manager Vermont Public Power Supply Authority Pos t Of fice Box C-5515 South Burlington, Vermont 05401

. s Robert Toombs Manager Washington Electric Cooperative East hontpeller, Vermont 05651 Edward Luton, Esquire Atomic Safety and Licensing Board

• U.S. Nuclear Regulatory Commission Washington, D.C. 20555 Lester Kornblith, Jr.

Atomic Safety and Licensing Board U.S. Nuclear Regulatory Commission Washington, D.C. 20555 Cnase R. Stepnens Chief, Docketing and Service Section Office of the Secretary U.S. Nuclear Regula tory Commission Washington, D.C. 20555 Dr. Forrest J. Remick 207 Old Main Building Pennsylvania State University University Park, Pennsylvania 16802 Atomic Saf ety and Licensing Appeal Board U.S. Nuclear Regulatory Commission Washington, D.C. 20555 Edward S. Christenbury, Esquire Counsel for NRC Regulatory Staff U.S. Nuclear Regulatory Commission l Washing ton , D.C, 20555 Waterf ord Public Library

! /.9 Rope Ferry Road Waterford, Connecticut 06385 Lawrence J. Bettencourt First Selectman

! Town of Waterford f 200 Boston Post Road l

Waterf ord , Connecticut 06385 l

l l

l L

II. FINANCIAL QUALIFICATIONS (c) Estic ,to r*f construction Co*t, Under the terms of the Sharing Agreement, 300fEC will be responsible for its ownership Share of the co r,of construction of the facility. Listed below is the ,

estimated cost of MPGfEC's increased ownership of 5.17924 of the facility.

Total of Unit Expenditures 88,823,000 Site and Common Facilities (including transmission support) 2,518,000 Cor: of Nuclear Fuel 7,931,000 l

Other MMWEC Costs (includes reimbursement I of AFUDC to previous owner) 13,408,000 Total Estimated Cost 112,680,000

'Jta above costs do not include 70NEC's financing costs

( ATUDC) .

(b) Sources of Construction Funds MMWEC will obtain funds for financing its increased ownership in the facility primarily through the issuance of long-term debt in the form of Pccer Supply System Revenue Bonds, secured 100% by the take or pay" life of uni' Power Sales Agreements with 15 Massachusetts municipal electric systems and with the Pascoag (Rhode Island) Fire District. As of September 30,1981, MMhTC has issued 3872,810,000 of Bonds: $869,890,000 of these Bonds are currently outstanding.

(c) Financial Statements As evidence of its financial qualificatiens to meet the acquisition costs, MMWEC submits herewith:

(1) MMWEC 1980 2nnual report, including MMWEC 1981 First, Second and Third Quarter Reoorts (Exhibit M-1).

(ii) Official Statement et Massachusetts Municipal Wholesale Electric Company relating to

$100,000,000 Power Supply System Revenue Bonds, 1981 Series B (Exhibit M-2).

caeflects a 2.527% interest to be purchased frun the Northeast Utilities' systen and additional 2.6522% interest expected to be purchased fran )bntaup Electric Ccripany and City of Chicopee finnicipal Lighting Plant pursuant to contracts presently being riegotiated.

I

. .o EXH1 BIT 5 Washinaton Electric Cooperative '

Summary of Estimated Capital Cost Hillstor.e No. 3 Millstone No. 3 WEC's 0.139%

Total Unit Ownership Interest Item Cost ($1,000)* Cost ($1,000)

Construction Costs .

Structures and Improvements 293.600 408 Reactor Plant Equipment 353,300 491 Turbine Generator Unit 115,900 161 Accessory Electric Equipment 91,000 126 Hiscellaneous Power Plant Equipment 9,500 13 Subtotal $863,300 $1.199 Engineering and Expenses 274,400 381 NU Associated Costs 191.200 265 Sales Tax 30.500 42 Other 60,700 84 Contingency (NU) 225,000 312 Additional Contingency ,305.400 424 Field "ayroll Taxes 69,900 97 Subtotal - Indirect $1,157.100 $1,608 Site and Common Facilities 41,900 58 Total - Generating Plant $2,062,300 $2,867 Gther Unit Related Costs Nuclear Fuel 153,100 213 Total Unit Cost Excluding Transmission and AFUDC $2,215,400 $3,079 WEC Capital Costs (1)

Transmission Support Payments Allowance for Funds used During Construction by PSNH Allowance for Funds used During Construction by WEC Contingency (10% of Amounts to be Expended)

Working Capital Administrative Costs '

Fuel Working Funds WEC Total Est! mated Capital Cost (1) To be determined

• Source: Millstone Report dated 9/30/81

.. ., EXHIBIT 6 MILLSTONE UNIT NO. 3 '

ESTIMATED CASH EXPENDITURES PORECAST FOR VEC'S .139% OWNERSHIP SHARE EXCLUSIVE OF ALLOWANCE FOR FUNDS USED DURING CONSTRUMION (Dollars X 1,000)

CUMULATIVE TOTAL CUMULATIVE TOTAL OF SITE AND CUMULATIVE TOTAL OF PROJECT COMMON FACILITIES NUCLEMt FUEL EXPENDITURES PERIOD THROUGH PERIOD THROUGH PERIOD

• THROUGH PERIOD 1982 $29 $91 $1,653 l 1983 36 83 2,009 l 1984 44 91 2,292 1985 51 203 2,589 1986 58 213 2.655

• Included are adjustment.3 for the Westinghouse Nuclear Fuel Settlement Source: Cash Flow, 32ND Millstone Report Dated 9/30/81 CASH FLOW

($ X 1,000)

Millstone Project (1.6 MW)

Year Acquisition & Interest During Construction Construction Total

• 1982 2,214 -

2.214 1983 357 274 631 1984 284 342 626 1985 299 415 714 1986 70 161 231 4,416

• Does not include legal, filing fees, Southern Engineering studies, and Co-op inhouse expense, estimated at $375,000.00.

. _ - _ _ _ _ _ _ _