ML20052B754
| ML20052B754 | |
| Person / Time | |
|---|---|
| Site: | Davis Besse  |
| Issue date: | 04/21/1982 |
| From: | Crouse R, Ertle R TOLEDO EDISON CO. |
| To: | Saltzman J Office of Nuclear Reactor Regulation |
| References | |
| 807, NUDOCS 8205030535 | |
| Download: ML20052B754 (4) | |
Text
-
Docket No. 50-346 yat,og License No. NPF-3 EDISON Serial No. 807 April 21, 1982 C0 United States Nuclear Regulatory Commission 7
g Attn:
Mr. Jerome Saltzman, Chief Antitrust & Indemnity Group g
'g Nuclear Reactor Regulation NEC$pp'~;,
Washington, D. C. 20555 0$082 %
a Gentlemen:
A t*
dW p
RE: Davis-Besse No. 1 Retrospective Premium Guarantee f(.
t
/. wt, The Toledo Edison Company hereby provides the documents described be ow and enclosed herewith as evidence of its guarantee of its share ($4,862,000) of the retrospective premium which may be levied against the Davis-Besse Unit No. 1 reactor licensees during the period April 23, 1982 thru April 22, 1983.
1.
The Toledo Edison Company 1981 Annual Report to shareowners which in-cludes certified financial statements for the calendar year 1981.
2.
The Toledo Edison Company 1981 Fourth Quarter Quarterly Report, which includes financial statements for the quarter ending December 31, 1981 (the 1982 First Quarter Quarterly Report is not yet available).
3.
A schedule of 1981 Actual Internal Cash Flow and 1982 Internal Cash Flow Projection.
Based on the data set forth above, The Toledo Edison Company believes that a cash flow can be generated which would be adequate should it be required to pay any retrospective premium in the amount of $4,862,000.
Also enclosed is The Cleveland Electric Illuminating Company's Estimate of Cash Position and Source of Funds Actual 1981 and Projected 1982.
This state-ment shows that The Cleveland Electric Illuminating Company believes that a cash flow can be generated which would be adequate should it be required to pay any retrospective premium in the amount of $5,138,000.
Thus, the Cash Flow Statements of The Toledo Edison Company and The Cleveland Electric Illuminating Company enclosed herein demonstrate the ability to pay a combined retrospective premium of $10,000,000 for Davis-Besse Nuclear Power Station Unit No. 1.
33 b/&
Richard P. Grouse Robert F. Ertle 00l Vice President, Nuclear Assistant Treasurer cc: Luis Reyes f
I Enclosures THE TOLEDO EDISON COMPANY EDISON PtAZA 300 MADISON AVENUE TOLEDO, OHIO 43652 820503033%'
F THE TOLEDO EDISON COMPANY 1982 INTERNAL CASH FLOW PROJECTION FOR DAVIS-BESSE NUCLEAR POWER STATION (Dollars in Thousands)
Actual Projected 1981 1982 Net Income After Taxes (1)
$ 93,944 Less Dividends Declared 74,467 Retained Earnings (1)
$ 19,477 Adj ustments:
Depreciation and Amortization
$ 50,121
$ 44,700 Deferred Incon.a Taxes and Invest-ment Tax Credits 22,761 28,200 Allowance for Funds Used During Construction (47,989)
(66,400)
Total Adjustment:
$ 24,893
$ 6,500 Internal Cash Flow
$,4 {337Q g,2g3ggg Average Ouarterly Cash Flow
$,[1 Qg2 g,,6 25g 3
3 Percentage Ownership in:
Davis-Besse Nuclear Power Station No. 1 48.62%
Maximum Total Contingent Liability 1,,63QQg (1) The Company does not publish its projections of net income af ter taxes and dividends paid. Thus, the Company has elected to show no estimate of Retained Earnings for 1982.
CERTIFICATION I, Gary M. Hawkinson, Assistant Treasurer of The Toledo Edison Company, hereby certify that the foregoing Estimate of Cash Position and Source of Funds for calendar year 1982 is derived from accurate data and reasonable assumptions and is a reasonable estimate.
Date:
April 21, 1982
/
Gary KQ Ha'kinson
/
w Assitant Treasurer
!