ML20053A578
| ML20053A578 | |
| Person / Time | |
|---|---|
| Site: | Fort Saint Vrain  |
| Issue date: | 05/18/1982 |
| From: | Hunt R PUBLIC SERVICE CO. OF COLORADO |
| To: | Saltzman J Office of Nuclear Reactor Regulation |
| References | |
| NUDOCS 8205260257 | |
| Download: ML20053A578 (3) | |
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P.O. BOX 840 DENV ER, COLOR ADO 80201 May 18, 1982 Mr. Gerome Saltzman, Chief Antitrust & Indemnity Group Nuclear Reactor Regulation U. S. Nuclear Regulatory Commission Washington, D.C.
20555 Re: Annual Cash Flow Certificate
Dear Mr. Saltzman:
Enclosed herewith are certain documents requested by you.
1.
Certified financial statements for Public Service Company of Colorado for the years 1981 and 1980.
2.
Quarterly Report to Shareholders for the quarter ending March 31, 1982.
3.
Certificate of Internal Cash Generation for the projected year 1982 for Public Service Company of Colorado.
Sincerely, Richard L. Hunt Assistant Treasurer RLH/ dis Enclosures cc:
R. R. Midwinter Steve Whitcomb
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a PUBLIC SERVICE COMPANY OF COLORADO CERTIFICATE OF INTERNAL CASH GENERATION FOR THE YEAR 1982 The following statement is a detailed breakdown of the internal cash flow projected to be generated by Public Service Company of Colorado (the " Company") (corporate only) in the calendar year 1982.
($000)
Net Income
$148,341 Allowance For Funds Used During Construction (8,364)
Depreciation 85,398 Deferred Taxes 27,702 Net Investment Tax Credit 12,648 General Atomic Company ("GAC") Payment
- 27,183 Other 81,583 Cash Generated
$374,491 Dividends Paid Preferred
$ 16,661 Common 80,445 Cash Outflow
$ 97,106 Total Cash Generated
$277,385
- On June 27, 1979, the Company and the prime contractor for Fort St. Vrain Nuclear Generating Station
(" Fort St. Vrain"), General Atomic Company ("GAC"), which is an equal partnership of Scallop Nuclear Inc. (a company of the Royal Dutch Shell Group) and Gulf Oil Corporation entered into a Settlement Agreement, a Services Agreement and a Fuel and Fabrication Agreemsat natisfying and settling all contracts and claims between the Company anu GAC relative to Fort St. Vrain.
The terms of
' hese Agreements include the following (a) GAC paid to the Company, upon execution of the Settlement Agreement, $60,000,000 as an adjustment of the plant cost for the reduction in the plant's capacity from 330 Mw at 80% capacity factor to 200 Mw at 60% capacity factor; however, GAC made no warranty as to the capacity of the plant; (b) GAC will contribute to the Company, between 1980 and 1984, $37,050,427 for the cost of replacing the 130 Mw reduction in capacity at Fort St. Vrain with future electric generating facilities and up to $8,068,791 for reimbursement for shipment, storage, handling and disposal of spent nuclear fuel for which the Company will bear the responsibility and the cost; (c) ownership of the reactor core and all fuel elements at the plant was transferred to the Company by GAC as of January 1,1979, and GAC will make available to the Company, at no charge (except certain possible incremental costs),
nuclear fuel elements sufficient to operate the plant at 200 Mw at 60%
D capacity through December 31, 1984, or until 16,166,400 Mwh thermal are produced, or could have been produced, whichever is earlier; (d) through 1992, GAC will provide or arrange to provide fuel fabrication services to the Company, and the Company will reimburse GAC for GAC's cost, for the manufacture of additional fuel elements for use at Fort St. Vrain as the Company, at its own discretion, may schedule; (e) GAC transferred ownership of spare parts and equipment for the plant, effective January 1,1979; (f) GAC will fund, up to $5,000,000, the study and resolution of certain plant performance problems (g) GAC will fund, up to $10,000,000, work (h) upon execution of the Settlement Agreement but effective as of January 1, 1979, the Company received title to the Fort Lupton Gas Turbine Units; and (i) upon execution of the Settlement Agreement but effective as of January 1,1979, the Company accepted Fort St. Vrain for commercial operation.
In any three month period more than $10 million in cash is generated ensuring that $10 million would be available for payment of retrospective premiums.
The Company does not anticipate the need to curtail any capital expenditures to ensure that retrospective pre'siums up to $10 million would be available for payment.
PUBLIC SERVICE COMPANY OF COLORADO By
' Assistant Treasurer i af M /PVL-f
' Date
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