ML20050D287
| ML20050D287 | |
| Person / Time | |
|---|---|
| Site: | Beaver Valley |
| Issue date: | 04/06/1982 |
| From: | Firestone L OHIO EDISON CO. |
| To: | Saltzman J NRC OFFICE OF STATE PROGRAMS (OSP) |
| Shared Package | |
| ML20050D307 | List: |
| References | |
| NUDOCS 8204120123 | |
| Download: ML20050D287 (3) | |
Text
e O'OHIOEDISON 76 South Main St Akron. Ohio 44308
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216-384-5840 Lyno Firestone Senior Vice President April 6, 1982 g
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Ap 0%b 09 1982x -9 U.S. Nuclear Regulatory Commission Washington, D.C.
20555 N/
g SkAttention:
Mr. Jerome Saltzman, Assistant Director jg nC State and Licensing Relations Office of State Programs, Nuclear Reactor Regulation
Subject:
Docket No. 50-334 - Beaver Valley Power Station Unit No. 1 Gentlemen:
Pursuant to our election of alternative No. 5, regarding the Price-Anderson Act retrospective premium system guarantee requirements,
and the applicable requirement for annual submittals pertaining to the requirements, you will find enclosed:
1.
A copy of our 1981 Annual Report to Stockholders which includes financial statemeats certified by our indepen-dent public accountants; 2.
A copy of our earnings statement for the quarter ended December 31, 1981; 3.
A one-year internal cash flow projection for 1982, and the actual cash flow for 1981. This statement indicated that $3.5 million, our portion of the $10 million retro-spective premiums for the unit in question, would be available for the payment of such premiums.
With respect to item number 4 of Alternative No. 5, please be advised that the cash flow projection indicates that no capital expenditure curtailment would have to take place in order to make the hOk retrospective premium available for payment.
g Because Ohio Edison is currently paying an indemnity fee which is greater than $1,000, it is our understanding that payment of ff f the $1,000 minimum annual indemnity fee is not necessary, as the guarantee of payment of deferred premiums for its operating reactors.
Very truly yours,
-/
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3 8204120123 820406 PDR ADOCK 05000334 PDR E
OHIO EDISON COMPANY Income Statement for 3 Months Ended December 31, 1981 (In Thousands)
Operating Revenues.................................................
$301,145 Operating Expenses and Taxes:
Operation and maintenance........................................
184,304 Provision for depreciation and amortization......................
20,577 General taxes....................................................
8,291 Income ta xes - Current...........................................
11,734
- De fe rred, ne t.....................................
9,053
- Investment tax credits, net.......................
(482)
Total operating expenses and taxes............................
233,477 Operating Income...................................................
67,668 Other Income and Deductions:
Allowance for equity funds used during construction..............
16,337 Income taxes -
credit............................................
11,761 Miscellaneous, net...............................................
10,645 Total other income and deductions.............................
36,743 To ta l I ncome.......................................................
106,411 Net Interest:
Interest on long-term debt.......................................
56,411 Allowance for borrowed funds used during construction, net of de ferred income taxes..........................................
(14,991)
Ot he r inte res t e x pe ns e...........................................
6,612 Net interest..................................................
40,032 Net Income.........................................................
58,379 Preferred and Pre ference Stock Dividend Requirements...............
8,252 Ne t Income for Common Stock........................................
$ 50,127 Weighted Average Number of Shares of Common Stock Outstanding......
75,881
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j OHIO EDISON COMPANY l
1982 Internal Cash Flow Projection For Beaver Valley Power Station Unit No. 1 (Dollars in Thousands) l Prior Year Projection Actual Total Year Total Net Income After Taxes
$163,892
$179,709 Less:
Dividends Paid 126,030 146,284 Retained Earnings S 37,662
$ 33,425 Adjustments:
Depreciation and Amortization
$ 81,659
$ 87,507 Deferred Income Taxes and Investment Tax Credits
$ 35,380
$ 38,099 l-Allowance For Other Funds Used During Construction (53,938)
(68,724)
Total Adjustments S 63,101
$ 56,882 Internal Cash Flow
$100,963
$ 90,307 l
Average Quarterly Cash Flow
$ 25,241
$ 22,577 l
Percentage Ownership in Nuclear Unit 35%
l Maximum Total Contingent Liability
$3,500 I
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