AECM-90-0112, Forwards Evidence That Cash Flow Would Be Available for Payment of Deferred Premium Obligation for Facility.Sys Energy Resources,Inc Responsible for Generating 90% of Required Cash Flow

Forwards Evidence That Cash Flow Would Be Available for Payment of Deferred Premium Obligation for Facility.Sys Energy Resources,Inc Responsible for Generating 90% of Required Cash Flow

ML20043G623
Person / Time
Site:	Grand Gulf
Issue date:	06/14/1990
From:	Cottle W ENTERGY OPERATIONS, INC.
To:	NRC OFFICE OF INFORMATION RESOURCES MANAGEMENT (IRM)
References
AECM-90-0112, AECM-90-112, NUDOCS 9006200501
Download: ML20043G623 (8)

Text

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m. Entergy gigg=ura..ian.

1-Operations rw a w n us 39150 b 601 437-M09 W. T. Cottle wx new June 14, 1990-U.S. Nuclear Regulatory Commission Mail Station P1-137 Washington, D.C.

20555 Attention: Document Control Desk Gentlemen:,

SUBJECT:

Grand Gulf Nuclear Station Unit 1 Docket No. 50-416 License No. NPF-29 Guarantee of Deferred Premiums AECM-90/0112 Pursuant to 10CFR140.21, Entergy Operations, Inc., on behalf of System Energy Resources, Inc. (SERI) and South Mississippi Electric Power Association (SMEPA), owners of Grand Gulf Nuclear Station, Unit 1 (GGNS), is submitting evidence that a cash flow would be available for payment of the deferred

. premium obligation for GGNS.

In accordance with the ownership agreement, SERI-is responsible for generating ninety percent (90%) of the required cash flow, while SMEPA is responsible for the remaining ten (10%).

If you have any questions or need additional information, please advise.-

Yours truly, e4)Ph WTC:tkm Attachment-cc: '(SeeNext.Page) i3*

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Page 2 cc: Mr. D.' C; Hintz (w/a)-

Mr. T.= H. Cloninger (w/a)-

Mr. N. S. Reynolds (w/a)).

Mr.

R.~ B. McGehee (w/a Mr. H. L. Thomas (w/o)

Mr. H. O. Christensen (w/a) 1 Mr. Stewart D. Ebneter (w/a)

Regional Administrator U.S. Nuclear Regulatory' Commission Region 11 101 Marietta St.,:N.W., Suite 2900 Atlanta, Georgia 30323, Mr.' L. L. Kintner, Project Manager (w/a)

Office of Nuclear Reactor Regulation U.S. Nuclear Regulatory Commission Mail Stop 11D21 Washington, D.C.-

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5 SYSTEM ENERGY RESOURCES, INC.

STATEMENT OF-CASH FLOW FOR 1989-1991 (THOUSANDS OF DOLLARS)

Actual

-Estimated Operating Activities 1989 1990 1991 Net income-(loss)

$(655,524)*

$142,412

$142,459 Net noncash items included in.

net income (loss) 968,352' 212,315 237,743 Not cash flow provided by operating activites 312,828

~354,727 380,202 Not cash flow used by investment activities (61,015)

(80,139)

(72,407)

Not cash flow provided (used) by financing activities (531,173)

(95,440)

(611,091)

Not increase (decrease) in cash and cash equivalents (279,360) 179,148 (303,296)

Cash and cash. equivalents at beginning of year 529,019 249,659 428,807 Cash and cash equivalents at end of year _

$249,659

$428,807

$125,511

• Includes the write-off of investment in Grand Gulf Unit II.

CP608901.J19/JSQFLR-1 o

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>r NARRATIVE STATEMENT In the event of a nuclear incident, System Energy Resources, Inc. will meet

- its requirements under the Price-Anderson Act by using its cash reserve or-borrowing short-term under available lines of credit in order to; fund its nine million dollar contribution.

SYSTEM ENERGY RESOURCES, INC.

' -Glenn E. Harder Vice President - Accounting & Treasurer June 7,1990

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r South Mississippi Electric Power Association 6401 HIGHWAY 49 NORTH /P.O. BOX 15849 HATTIESBURG,MS 39402 TELEPHONE (601) 268-2083 i

May 10,' 1990 t

J In the event of a nuclear incident, South Mississippi Electric' Power Association will meet its requirements under the Price Anderson Act by borrowing short-term under its available line of f

credit with National Rural Utilities Cooperative Finance

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Corporation-or using the Association's current revenue to fund its

. contingent-obligation.

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SOUTH MISSISSIPPI ELECTRIC-POWER ASSOCIATION

-STATEMENT OF SOURCES OF FUNDS FOR 1989 - 1991 (Thousands of Dollars) i Actual

-Estimated-I Internal' Funds 1989 1990 1991 Revenue S 250,888

$ 262,294

$;273,565 Expense 240,364

_:262,197

_273,069 q

Operating Margins 2,524 97 496.

3 Non-Operating Margins 3,401 2,530 2,030 Abandonment Loss Grand Gulf Nuclear' Unit No.2 (10,130)

<2,398)

<2~526)

Net Margins (Loss)

,$ <4J_05)

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