ML20095K567

Nebraska Public Power District Annual Rept 1991

ML20095K567
Person / Time
Site:	Cooper
Issue date:	12/31/1991
From:	Horn G, Watkins R NEBRASKA PUBLIC POWER DISTRICT
To:	NRC OFFICE OF INFORMATION RESOURCES MANAGEMENT (IRM)
References
NSD920462, NUDOCS 9205050263
Download: ML20095K567 (42)

Text

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8- p- GENERAL OFFICE -

8 P O, DOX 499, COLUMBUS. NEBRASKA 68602 0499

Nebraska Publid Power District *0%"sl'2!!!i'*

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NSD920462-

April 28, 1992

[ U.S. Nuclear Regulatory Commission Document' Control Desk Washington, DC 20555

Subject:

Nebraska Public Power District 1991 Annual Report NRC Docket No. 50 298, DPR-46 Gent 1emen:

In accordance with - the requirements cited in 10 CFR Part 50.71(b), Nebraska Public-Power District submits its Annual Report for calendar. year 1991. As specified in Regulatory Guide 10,1, we are enclosing ten (10) copies o: the report.

,Please contact mc!if you have any-questions,

. Sin .re y,

-f IA G. R Horn Nuc car Power Group Manager

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Enclosure (10)

Regional: Administrator

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-USNRC - Region IV.

NRC Resident Inspector Cooper. Nuclear Station

' Mr. ~J . - T. Gilliland -

Public Affairs Officer USNRC -Region IV

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NEBRASKA Puetic POWER D I S T'R I C T ANNUAL REPORT NINETEEN HUNDRED ls N D NINETY-ONE

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Kilowatt-hour Sales (Electric System) 10.7 billkm L E!!owait. hour Sales to lowa Power, Inc. (Nudcar Facility) - 2.4 hillion

- Operating Revenues (Elcettic System) - $377.1 inillion r

Operating Rnenues from Sales to lowa P<mer,Inc. (Nuclear facihty) $7tiH million

- Cost of Power Purchawd and Generated (inclu" ig Nuclear Facility and Power Supply System) $27!t8 millit n Luther Operating Expenses $85.8 million a 8

, Net Revenues $3.7 milhon Debt Senice Coverage OS iT H f D J 5:TP1CT Q: Nebmska Pubhc P(wer Disaict is a public corporation and pohtical subdivision of the State of Nebraska. Control of the District and its "operatiom is tested in a Board of Dirtrion. con hting of 11 memben popularly elected from districts comprising subdhisium of the

, . District's chartered territory, in accordance with new statutoiy guidelines, in 1991 the District amended its petition for creation to r

redefine its chartered territory. In addition, the amendment realigned certain subdivisiom to comply.with the requirement, v.ith cenain

? exceptions, that such subdivisions have approximately nptal population, The sulnlivisiom now cununpass 86 ot the State's 93 counties Eand all of fise other counties except for the corpoivre area of one first cl.us city not senni direcdy or indirectly by the District in each of :

t hese live cotmties.1)lanagement and operation of the District is accompthhed with a staff of approximately 2,250 employees. The

. District has the power, among other things, to acquire, comtruct and openne generating plants, trammission lines, substations and tf  ; di:tribution systems smd to purchase, generate, disttibute, trammit and sell deettie energy, at both wholesale and retail, for lighting, h -

power, heating aml'other purposes, The Dhtrict operates an integrated electric utility system, including facilities for generation,

{ transminion and disuibution of electric power and energy for sale at wholesale and retail, and a surface water irrigation service. These f C are no investorowned utilities providing retail electric service in Nebraska.-

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A Wa3ne I it o y d . Anoints, south Nious City, wned sin < r Stau b 14%'

David I. Disren. CI'A, Cohunhus, wned suu rJanuan l'M3

]ehn D. // a m s Ii o n Raihuad Emplo,re.1.incoln. wned sna rJanuan 1991 Il a I p 4 /: 11 o I : / u s t e i . Apibusinewntut t.u nwt . i'aston. sened sni. e jannan 19s I

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a RoIph D. john 3 on 1 conoini+ 1.nu oin, wned suu r ! ann u3 to n Thamns O. Ui,he/s. l'roirwinnal En.pnrer. Kr.u ia s. sent d suu r lanuan IN

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respon sibility to caerrise gen >d _ judgment on w'.r ther the our buunrun urut, therr/me, our c ommunrtin may }loonish.

rspenditrnn are appropriate.

• It is veux :tkely that we will

• In 1UU1, we made uveral strian on hohling down a mte A have to sj emi several millium dollan on the envuono o nt on majm acr omplishmrnt was the antitu turing ej mn wholoale order in obtain 't new forense to vlserasr our North /*latte rain into ut m mer a rid wontre t atrgor ies. We believr the flydro Por.jec t. & wdl probably have to redrue our hydro intr un turine will int urase the rflu irna y of ou r total generation somewhat in order to encreau water flows for oper ation t We woe again alfr to rl! our ext ru generatirig wildlife rue. \W air buying land and developi:,g hahnat for capw ity, and we had another eu 'llent year financially. A thoratened and endangned species.

• We <ne also reornn:rted long-term aguerwrnt to wil Itut) megawatts of parti < rpation to helping this state more jntward with siting a nti c apin l!v will analt in n apat tty suln arvenun of moor than t onstruction <f an envirootmentally Arc ure jarility to disfune vl $ lit mdlion pn \rar. cu. d.eu major step forwend was the low level radioactive waste, hine e 1988, we have sprnt format on of a Hetail Community Customer Committer which

$.5 million as Ca.oper lutlear Atation's pro ra ra share of functioon in vnuh the same way as o>n Wholevde Crocomo preittensing ac tivities orejuned to put this for 'ity into Conunittre. Itoth one curtlent forums for us to sommunu nte ope ra tio n. We brlieve snu h e\penditurn ate appoopriate, with our < tolomns anel gri to k now their needs.

• This utdoty becarne it as vital to the opnation of our nau frar fdant that and our rmployrn have a serious commitment to our we have a fdate lo snjely and resp <nnibly dispose oj our winte. routomen and all of our lrthne Nobunhans. We take gn at T At the same ti'ne, utilitin muut runsistently anns the cent- ide in tmr role as power prodruer% a s wm m u nity leaders vnsus-benefit ratio of environmentalimprovements hpending and as neighbor s and jiiends. ~l'ublir l'owcr. Penonal Priair" unonry unnnruarily - nid drive up rin trirsty nats, and is not_jout a theme. l'or su at NPPI), at is a way ol life.

en ergy c osts are a major deter minant of a com m unity 's s' l /

economic health. ' As the rnt of the runntry struggles to / SC rec over from a retenian, Nebraska's economy has remained Ib.nold W Weakinu 1% drnt oud C.) 1).

strong, and we at NPPl) are determinrd to do our fiart to herp it w. We have a reponsibdity to hold stown our emts w a _. _____ _______________-______ - ..

iij on . realsonal inte rott it is vital that wr reach a uuntluuvn for ora rt1 yr.< n, but the art astrno f nts plae r stronger o mphasn that s onsuler s esil <!) thnr c ona rr on. ? /*robahls the most on r ustomer usaer patto u ns on su mou r asulthea mts otr<rnary publintnl arul e vntitrernial inne u hit h rotorhrs thrs flourd to serve nuious Islws of t astomen. Our o :to ni n to len t the n the siting of a far olity to stoor Nebraska \ low level prak s arul valley, <,1 t h a tr o der: and w us can use radiow tu r uvnte. lheinurhas sinrrd stwng o nwtwns all of our Jar rhton runre effuie ntly \\r our witsjwd avaatg luah supporten arul opponrutt N1'l*lb is that these c ove rpts a rr best for a ll of o u r t u slo ve rn voro inc long tru m. '

taking a leadenhip purition Irgareleng thn .\larar vihrr

< s n u r. \Vr fu el il es in Ihr be st snierrst of in uo s t u vvive d th e s lloa s el, a rul I tie rt uit all llr'br a st. n that ne proarrd toward a unr<juinn ally that all of the otron for wntrd sainpu tor:s it snlution of this anatte r.

• The to us werr at t orde d extreme care a ri d third issur on whn h we were heavoly immerwd n vduatwn Thn floard Jo ch that NI'I'l> hin a i l

una the ontnu turung vl hath our wholnate arvi good, s o u n d on: n ago m e n t (n og r uu m . Onr retail rire ttit r en ,-s . liepresentatives of our n u m ber v ra r oblogation es to provsde c

\Yholnale i:ustomn . :om mitte r, a nationally Ne braskans with the bnt wa vi< r anal tourst trrogra:nl uonsulting fir m and our management ratn that wr c o n trenonalds ac hirvr. The penonnel spent rountlen houn Vecch ping a rustomen of Nrbunha l'ublic 1%wer loistru t r ome rate structure that truorporatn a surnmer- Jint in all vl our dolshnatsarn. \W are a pubhc wi n te r .s rin o n :I r a te < < n < rpt. T'or floa r d servie r ea,.;a ni ution, a nd we takr pror r in our R

s uunductnt tuv publu hvarsngs for v>hoinnie fenonal t ommitment to the m.

e ustomen to voire thnr views

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houn t?j di1~ouwst a nd its e us"aner merlings 6 / )/ 4WO h ' c s 'ns.aghout the st<n , the floant. in Wanen it n A. < : hun own a

curly 1%2, apjatny d Ihr entru< turing v/ reind elet trit r atre We have had wawnal rain on placefor most ortaal noto

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= = . ac+ . m: m wa= = :=:~ z w:,==u.+=2a NSD920462 April 28, 1992 U.S. Nuclear Regulatory Commission Document Control Desk Washington, DC 20555

Subject:

Nebraska Public Power District 1991 Annual Report NRC Docket No. 50-298, DPR 46 Centlemen:

In accordance with the requirements cited in 10 CPR Part 50.71(b), Nebraska Public Power District submits its Annual Report for calendar year 1991. As specified in Regulatory Guide 10.1, we are enclosing ten (10) copies of the report.

Please contact tne if you have any questions.

Sinepre y, W

C(}R llorn Nuc car Power Group Manager

/rg Enclosure (10) cc: Regional Administrator USNRC Region IV NRC Resident Inspector Cooper Nuclear Station Mr. J . T. Gilliland Public Affairs Officer USNRC - Region IV

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i-l IJEBRASKA Pustic PowtR Dl5 T RIC T ANNUAL REPDRT i=

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h O n i t b _e ! C o'v e ri C o I e (11 a m m o n d . l. i n e un a ti, l'.o n r a - ..

~ Mhen the lights go out on a stormy night, Pouca lhwman Cole llammond is one of Ame respamnible for restoring power, A kwe for tlw ould ants, 1 learned gnwing up on a Nebraska farm, and a desire to work in a servic%riented profenlon inspired Cole to benume a lineman for NI' Pit :

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MEAR- AT AJ G L A NC h I Kilowatt hour kles (llectiic Splem) 10,7 billion -

! Kilowatt hour Lles to lowa P6wer, Inc. (Nutleat l'acilit)) "A bilhon

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Q - Opesating Resetit.cs (1jettric System). $377.1 milliott -

( Operatinj; bevetmes from Salb to lowa Power, lite. (Nutlear l'acility) $768 :nillion Cost of Power Pmchased aml Generatn!(In<luding Nuclear rmility and Power Supply Sptem) $279.8 million

!( _Other Operatiny Expenses ~ $85.8 million -

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, TNet Revenues , $3.7 million

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. Deist Se:Tice Cbverage 1.75 .

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jiehiaska Public Power Disuirt h a public par 1xwation arid [xilitical sulativisioti of the' State; of Nehnola. Control of dn4 Dintrict aint lin - l

Lojerathms iQested in'a lioard of Directors comhting of 11 membess'lx>pulatly eksted hum dhukts compthing nuhdhhiom of the T

District's charteredlertitory, in accordante with new statutory guidelines, in 1991 the District amended its petition for creation to -

tedefine its thattered ters-itoiyiles addition, the amendment scaligned certain sululithions to comply with the styuhement, with testain

$ ' exceptionsi that stich.sulativisionn hme approximately equal poputulon. *Ihe subdivbiom now encompass 80 of the State's 93 counties" ,

,, and all of five'other couatics except for the corporate area of 6ne first< tass city' not served directly or imlitectly by the District in ea< h of  :

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or, s- l these live _ countlei $ litanagement and operation of the_ District is accomplished with a staff of approximaiety 2.250 employees. 'the _

.y+ 1Disttics 65 the power (aniong othei_ thl'ngs, to acquire, comimet_ and operate generating plantsc trammhslon lines, substations and -

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/distrihdtion spiems a~nd to purthase, generate, dhtribute,' trammit and sell elecitic energy, at both wholesale r id retail, for lighting.

i l power, hearing and other purposes. _The Dist'ritt operates an integrated electric utility optem, inchkling facilitin for generation l:

_. transmission and distribution of cleoric power andynergy for sale at whblesale and retail, and a surface water krigation senice._There

'are no liyvestor tewned utilities proviEling retail clntric senire in Nebraska. j

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N P'P D 19 91. 5 T A T 1511 C A L RfVitW p 1.letint $ystem Amet Supply Systent, and Nuticat lacility - "

t A wrage Numbri of MWh Sales - II *  :)

Custmne rs AM O_U N 1'

. %_ AMOUN1  % ,

EA11$

Retail-

. Residential ' 60,605 824,335 7.7 $ 53,?32 14.7 .

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' Rural & Farm 4,Puh 82.606 0.8 S.481 1.6 Commerdal 17,591 6W,374 6$ 43,644 ilf i industrial . . .

67 748,414 70 28,385 7.5 ,

Public Lightivig 249 25,DH8 0.'t 2,408 06  !

Munidpallimer 191 40,698 04 2,581 0.7 Mureliancous Municipal 2,630 96,290 0.9 4,892 L3

• lotal Retail 100,231 2,$10,705 23.5 8 141,623 37.5 Wimlesale; .

48 Munidpalities(%tal Requirements) L278.980 12 0 8 47,170 12.5 /

' 20 Munidpalities (Intercotmeetions & Partial Requ'iremeats) 73,709 07 2362 06 25 Pubbr Power Datricts & Cooperatives (1ntal Requlternenta) - 3,706,$55 34 8 _ 126,127 33 1 ,

lhtalWI.ulesale Baleg juding Non l'arra and Partidpation $=In) 47.S l 175,6t9 46 6 btal Retail and Wholesale Enles(Euluding Non-l irrn sind Panlopation hales)

__5.059,242 7,569,947

_ 7t 08 317,2H2 84 1 7

1,'/83,021 ' 28,996 7,7 Otler UtHHks (l'irm arid Non-l'lt m) '

Panitipation $ ales") - 3,306,644 _ ,1. 3,8.246 10.2

. %tal Revenues fruen Electric l'aergy $ ales - - 10.659,612 100.u _ 1 384,524 1020 .

Other Operating ivenues (Net of IMerre d Revenves) - $ (7,401) (2 0) 5 377,123 100 0

-1htal l'lectric System Operating Revenuca - .--- we. - -

n.m.,_._ _ _ _ ,,,,._ - - - - _.a Pnnhu tion Conta t MWh {Thousandil AMOUNT  % AMOUNT i

~ GENERATION Pnnlurtion:

J Electric System (IncludinglntenijangeQ, 1,116,016 10.0 - $ 24,840 89 i Punhasert 8 143,755 - $1,4 lbwer Supply System

• 5,741,967 S t .5

. Nudcar l acility* . 2,402,279 21,5 70,833 25.3 3 _,

Other l_,ftW.190 17.0 40,383- 14.4 ,

' 'lietal hmer Punhaned 10,043,436 90 0 8 254,971 91.1

• 1htal lbwer Pnniuted and Punhased 11,159,452 100 0 $ 279,811 100 0

'"1k Cactret System purchaus !IC% of the net gwaken andf.mrJ.urcham of the 1%nt Supply Suam and $0% of the hirar Farihn twed upon the total ' .

I resu of the ropectin tyttenu.1%rsuant to the l>wos Sales Csntract, hu a 1%ver, Inc. puschami2,401,.US MIVn Jews l>u er, let. Jetidjmsin is not inuluded sn the tahlt. )

Increase - 1 1991 1990 (Decreasef OrNERAL'. (1 housands)

Utility Plant (at cost): ,

- ricctric 5ystem - 8 .743,900 $ 751.121 l (7,221) 719,597 711,279 8.318

. hner Supply Systern Nudrar fadlity 651,231 623,366 27,865 3 2,114,728 8 2,,085,766 8 28 962- 1

. _ %ta1 Utility Plant , _ . _ _ - - - _. - -

Actredited Number of Capability I'enent Plants

• _jM W) of Total _

l Ptsduction Plant Facilities:

Atcam-Cavemionai - 3 1,511.0 58.0 L

- Steam- Nudearm 1 778.0 . 29.9 liydro 9 159 9 - 6.1 .',

8 37.9 1.5 Diesel .

4.5 116 0 Itaking*Ibehine - _3 2,602.8 100.0 lhtal Pnkluction Plant racilities - 24-m Aw gr,,,gy,,,,,, , , .

Ih in,ludes one ssavsfnt, sin hybe plank ande%t daulplank seder entrat k the Dutrut

. Wladuda .789Mh ,tatrm+d k have Itarr, is, 6,359 I Transmission racilities: Miles of Transmission I.ine in Servit.c -

Penonrd Numberof Permanent Employet - 2,256 r

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/t n I p h I) - ]ohn5 o n. I t onninist.1inu. n. sei u il sinv }anaan 190 l' h o i, a $ () \l i 4 heis, Po ,tesuonat l_ngn a i i . he.o nes . y n ut su a r l muan los1 lt i \. Ta3/oi 11u es unun. Wit u n ot mu r l.uiuan 1979

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U i f wit ti Iweng su nsiinr to then on ed. Atudo s ondn ote that the tspr of ,t n 'u t t ustrone r s rspo t t as clutnging \ *nt s u n n s show

'l'u his t l'ower. /*rr w n ni l' ente.' Thr w words on on t r over thatunrtonous want utdaturs to tal.c a leader ship role o n emphatic ally s two up NI'l*ll's c ovena nt with oos protre tt ag ihr onetronment a nd br cont o r ne d t uttomer s etnd Jellow Ne braslant los my mrungrs the s ommunsts hadrn

• Nf'l*ll stands re ad\ to mo rt thr u pan tuu yran. I runphauud N; .\ s tonmotment t hallenger in this report, we roll sntrudw r rou to to suffdynty ou r r ustomen with a urte, low tust wveral NI'l*ll e mploy e r t Ihrr reptru nt the and relt: ble supply oj o hitrit uy, ' Wh have a drdn a trd a n d tale n ted wor k fo r r e we h a ve vers o n..tomu ut and rcril balanc e d rurog, th roughant ti r ste:.*r, NI'l*l) i mplorro s air Auf' ply . system on this statt, and wr at NI'l*ll more than ju st ut.foly wonheos in our have a resporrubolity la protet t Ne brasha 's c o m m u u tt er s. We arr mayon, o sty tuttuaide pourr suppl, muture v; t oal, non h ar notru down, little lungen o onn ha s and emergrocy and hydroelt s luc generating rewart e t Wetake unedital tra hnit ou ns. We are community ulub thos obligalwn very se rionstr. * (but s hallenge out ollio rn, u fa n d boa r d mem ben. A u rola y u hool re t rott \ tan has herro to trou w o vutracts with luoth tras ho o s a nd Sa tant trado r u We a re national var ro tad and wladnale n ustraner w< tort l >n ring guardune n and re wrvists volunters for mrn and 1991, we o rn rwrit s o n t r en t s with Jive of ou r bhood alonon. \\r carr about <*ur n onun unotu s. and whrdrsair r ustinnen, and now have 7 3 whtdnale we dema nd < !rarr air and t h a n water, . \ t NI'l *l),

c ontent is in ldac r. We als n hen te lo ng te r nt w e' beltrer utilities h a ve to n o nlin ne to br a u r a ngt verret s with 2ike u nm m un otte s that we o nvanotone ntal stewanis, e ven though at tonn that were at erlad. * 'lbrw e ustomen have jdat rd an onay tw in conflu t wolh herpeng rain how. Ihat\ uhat i ml*a rtoo n t part of t h e ir futures in to u r our c ustomn s tretnt, a nd ur m ust be unponsive.

d floweve r, bring wu sstser to c u storner s ' desion onr a n s moor ha rselvilte r ronphasis e n n now br entirrly ,ltet u sed con f roviding sjunhty sruri< r to them, whic h we belict,r e,jtattn th es n j et s! th r owing mo ney a t a p r oble *t . We h ri vr a

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, rojo rnebolity to ru tt or gutui judgme nt on whethre the our businrun a mi, there four, our n om m u untin mas flour nh.

rspenefiturn nor uplnojarate.

• It n trn I Lrls that we will

• In Iwl, ur made urnal stredn on hohtung ab wn r osts A l

have to speral u ve ral veillion dvilan on the environment un mann m o vmplnhmna unn the ontnu turine of our whok ude l

orch a to obtain n no w luu nse to operurte w:r No r th l*la tir rotn onto s u m me r and wo nto r s ategor en. Wo hilu er the ll_vfra l'ury e t. We will foobably have la ordner our hy< 'ro 2rstr us tn ring well s na re n se the r;//tr orney of our total go nrratoon wmrwhat in rode r to inc urasr water flows for opn alvon. " \\r uv re agans able to ull our wru generating wohlhje uw. We nur buying k:nd arul develop!vg habitat for s apacity, a mt we had anothre

• a rtle nt ye ar l natu rally A thre atened arul endengered spv< rrs

\D- are alw t ommotted long In tn <tgiro me nt to u il link megawatts of pastu rpatwn to helping thn s uatr movr for woo r d with utr ng a nd cap <u sty will er wit in t apai rly win reve nun of nuno than acontnu tion of an environmentally u-o ror Jan ahty to dop<ne of $ Its mdlion per yor

• Anoths o anaro step foravud won the low level >adions tive wa str. hinc e 1USN. we have spent lvemalwn of a lie tail i:ommunity (lrntorner i:omuutte r whic h f

$ 5 onoihon en Cooper Nut fr a r Atation 's pro unta shurr of lnoutwin our muuh the utmr uvn as our Wh<drude Cuntomer pr elit ru sing ac treifirs retjuired to put thss lntili;t onto (:tonuttitres floth tur ru ellent lvnums ltn u s to c onsmuni< are oper a tio n. We he lu ce un h a sju onliture s are approps restr. with our r solomo r s anel ge t to know then nrrdt lhes utility beranne of is vital to the openatwn of our nus har fdarit that and our o mploy c o s ha ve a serious n om mit ment to our ur have a phur to usjely arul ne sponublj dispou of ona winte. < sntomen an.; all of vor pilow No burnharn. We tale grral 4

At the wmr time, utihtir s ment consiste ntly anru the runt pride in enn role en powr r produires a s c om m u rnty traden vann brnr/it -ratio of enviremme nial emprovements hlwouling arut as neighbor s enulfriendt ' Tub!n P. uv o, l'enonal 1* ride" ononey unnt<rnarily woubt dr ove up t ier trie rts < <nts, a unt is not por a the me, lonubihty to hohl th yng our a rats w e

i  !

U , Y enter!woud \Yr wotirtur to hann abundant low e<nt tin tru C -

• r ii Y rnrrg, en vulable. lias lh 'ni n t onuratte d to not onb Lerjang

\\r f.ad fattin ted that the un runouvy period twnblong vont our rates low arul stable, but to look out for the r < nnovoic tll the nation uvuld have only to vuuh st offreI on Nebrasha's bralth of our a nnovouratus by *ar vidong Arten es that will help rwnovey. .h we wrirw the e vents of 1901, we are fdomrd to ou r s ustornen urornist tonoforlotnv l.vw rates help hold elov.n trport that the statr \ n onorny has. indred, avraded veru h t>l rosts for oro industries arul enahr ti .a naar a vm/n totter in the retenion 's tulver se ionj>at t, T lt ha s ber n r e po r ted in nettional and inter national mus hrtldat es. 't h o s sna k r s tutiorn loint atol national faiblit ations that Nrbrenka led the Nelaaska vuar a:Inu tive to new trolustri and earlarner s taar natron irt tvunfar rn o m/doy enent growth for most of 1991. Our n ustome Is' wrli bring thsough the e tration t,l jrbs a nd rmjdoynarnt growth in the vivie r, trade and unanupu truing the urs ulto ng In vr stenrnt o n out s t orn un un tf orv .Ma ny Arttors errnains high, rund our -verall unrunfdovne nt rate 4 0"*/drutin fare the utiht\ ondustry, i during 1991, the se continues to be the fount of the Sib stain in c urat ert with the ron'rnn *"luire d vt ry scr tou s drieb toon. Apair wdl not growth in rml Joy ment, penonalincome growth in Ne braska pre vat the cittng of all the inurs in whu h thn ihunut hun been alw roffn ts our dy namit and growong c<onomy.

• 1hne are invoh:rd, but I beltruv that thorr vl them jdayed a major part exe sting tirnn for the utdity irvinstry. and at n very satisfying in the lionsd \ attivitin. Thne aw the urli<rnsing of NI'l*lb\

to be able to Aron Nebrashans 19 directong the statr % largnt North 1%tte flydro 1*>ojn t on the 1*latte Ilivro, disposal of puidir power district. This thund frris et tirep onp<anibohty to low frvel radions twe waste. and the rr slo w turing of our support the n onornit health of this Atate by providing the wholesale and artad rin tru ontn. * \Ytth orgard to the mattro energy Infuired to nourish it. \Yrfeel that Nobunha is in an of rein ensing, a lot of tona arul rll ort has twen put _l orth by vuellent frosition te, continue with the n onomu espanuon of our livard, our managernerat and many othen invadvid in the punt two yro n. \Vr t unfinne to weak clorrly with other this fant ru llelice using n an enttruly tit))et ni program today p u blit and private agentin to help provide a slimate in than wl:en the fint lia rine was inurd wmr Mb yran ago. It whhh bunir,eun and endustries can vapand.

• I:nrogs use o nv< den the storage a nd one of watr o por ir rogation a unt patter n s and re onomit stwngth have atways been losrly hydrorin trar generation and wonitivory to envenavnental and i

'O

i i

ret reational enternty it is v<tal that uv' resul t oru lusron for marry yt an. but the adjuttments plat e stronce r vmphtors 2

j that c onside r s all of these c ont er n s.

• 1*r oba bly t h e m os t on o ustomro uwge patto on on surnmer asol thr < ants net o uary i

I .

[ lneblu e:rd and torition naal iuur which inschvs thu livard to serve vorwus typn oj o astomert our entrut n to Irwl the 1

s j ts the uting of a facility to s t<n t Ne brada 's low level % praks arul valln s 1) rirrtr u do mand w uw ran une 1

(

l radiosu tier umtr. Ihr inur has stund strong rou.tiorn A all of our Jac olitro more ollniently. W are satnfi .I i

I

( among both suppor=t rs and opfunnentt Nf'l*l) is that tho se t erna rf ts are best lvo all of ou r l

taking a tradrnhop position orgarding thn u nstorner s over the long te r m.

Ala rn other in ur. \Ve Jrri it is in the bnt internt of inun t uvolve d this floa r d, a nrl i t a n Au s i

all Nebraskans that u r fatu red tou ard a nar,juiov<al'y that all 14 the strms ponented l

satisfac tory intdntwn of this matter. ' 1he to us we r r at t ordrd rstormr carr and l

l third inne iro ta hich we were hravely immerwd rentuation. J hn llvard fo rts that NI'l*l) has a was the entnuturing <f both out whtJnale and good, Aou nd ma nagemi nt pr og r a m. (Ju r l retast rirrtric rain. firporsentativn of our n u rr. br o one obe iga tio n is to p r o vide

\Yh<dnale (.ustomer Cornnuttre, a roationally N, bradar , with the bnt snri<r arul fount sn ognitrd e on uolling jirm and ern r rnaturgrment to.trs that tre c a n rea so rtably ac hirve. J hr l perwun~l spent uonntfru lauer developing er p runtomen of Ne bra ska l'ablu 1%uvo lontris t <nme ,

l raft Atr ucturr th at irworporain a .surnmer- fint les all of our debbnalaunt \Ve are a puidic '

tvirrter ara wnal rair t ortu ept The floa r ol Arrvic e organization, and we ta Ar prode on ou r' coruturted tum phblic heario(;s for wholnale fenonal t ornmitment to thrm.

l t ,

\ rantomers to svice thrir vinet Aftn many - -

~ - - ,

_ ,) mC.PR V,4 s A

houn of clisruuion and in rustomer nurctings g,/}j4# M', l l

l

? held throughout the state, the llontd. in \ \ ;n trn it. OwA, t ),ao ma n earls 19')2, apfnoved flor Intnu turing <!/' retail cln tric votre t l

l W havr had wawnal rain un plair for most uttati e untomen  ;

l t

i I

I 1

l. e '

hr n r.u la11 otn higluwt [ral da maial on irt ant dunng 1991. sales

• se suinais we er desigural aint t osuhu tral to auist our tlos rmtomen used 1.M19 indhon Ldowatts of pinses on jul3 17 uluilesale i usionn ienn al pou rs Inn a t * < oopriain es ,u n t Ihning lwl, at 5 p.in. 1 his sur paurd the 19tn* pc al demand h3 {g snunic ipahtirwint icase wintra lo.nl.

," !ls)i

• (4.000 Lilow a t t o 'I h e piriious da inand t et oid of w e ,uhled WP89 kilow aits <il s onnet u d load

. (

( ;g

( 1 1.7 4 3 inilhon kilow atts os t ni t ed in 19M. 'I he sutron 7g thiongh ihr s let o u spair heating wan i heating prals in she suunnen due to inigation nu rt ine pings.un. 't he progiam is avilabic to both asul ait-c omhtiones use. ' The highest r etail .nnt w holesait i mt oine r s. lin er were peak d e nn a n d at hed dueing the 0.215 imiallanom. and nu ruihe paunents to uintes months in 1991 was . these totaled $ 1N I.570.

• Priin.u ih tln ough 1.297 milhon kilowatts, in Januaty An oui wholesah t ustonien, aggirwho load i

estirine (ohl spril < osutibuted to the c ontiol inra.nirs s ontinue to plas aii ircond wintri

• on peak desnatul oti the imp < itant iole in ritoit* tie l< mrt the

• uirin of 1.369 millnin kilo...ats in lirc omber sononer peak . nut moir ett'n ientiv i

1989.

Oui elloits to hatain e the utilire out sesoure rs in sonones ,

wintes/sunener measonal detuaml. aint ihm Suu r we < mienth air in a snipim isn pi m e t he sy st em's <n c t all el t it ir nr y, c apac its c oinlition. aggirssis c inai keting to (untinued unahaird dnsing 1991. Noiinalh, hal.uu r t he v 'ri .- viininti lo.ul s oniinues as a the system w uitet grak demand is about 70 to pilon it y. A Cmininct Ntaiketing %uppoit 0:YM 75 prat ent of the sunnner prak d< maml a ul to Spirm, designed ui utili/r impiosed maiketing brlp of f set this innhalance, w e c ontinue to inhu nnation and i onunonit atium c apainh:3 to beurt e nc<nuage w-intri mage iln orqh srs cial pr ogiium. sene oui e nsioinen, was dneloped during 1991. the 1

These inchule iiu riitis e pasment ichates to systein w di aho benefit our maiketing ritoits in ,

i C

(mtoincis w ho install on comet t to elet-t ait spat e enet gs sales and lo.ul huihhng ae thits tio ongh a

heating /rlr(ttir w atet licating, taign trd inetha .ulvet tisittg, t oistat t% w it h industi eal pills}nrt t s, al a ltil:T t s, e ingiittoi s, 1

du et t inail aiul dealet w anin.tts. * ~l w o *lleating l'p Wintri c ontr.u toi s, u nnorn't destbipment oiganizatioin ami othri Chet Harger.Warrhouseman, Gerald G e n tle m a n A t a tio n There are 39,: J repair parts in the warehwse et Gerald Gentlernan Station. and Chet llarger tan und escry one. At other timeo you c an und him on the t usincu end of a Dre axe as a captain on the Madrid volunteer "1re department.

I

I f

. l++

1 1

1 i

l 1 4ustoint n New loc ations of (oinpainn engage d in len.d liioin i . uni 1.hu oln I.In ti n %s sit in. I he c ont s .n i n los a

pio(rsung inul plastit s in.uinlas tuning and expansiistis of " O u .u s 't he \llNl hnt will lu t o nic ,u h htional nia:Lets foi i

Oxisntly Noblaska lH nks duMng I!NI ( ontt ihuthl to p ih (t ou th thC stH plus ( ap.H H s . I hr bne is r\pM iMI to hC in sM .n C in I

kil OLI: srls it e at t a. .\ ggt hsnr ill*H kt nog (llot ts h et jHne !'.N1 ' . D a infinbrl ol i

! l ou t sur plus t apac its tu lpt d to better utilve remun n the Nihi ('o nline n t .\ ira l

I I

( atul will help intniinire intuir tatt inticases. Iowa Pow e t Pool ( 51. \ P P c the  ;

i f Puhhi Nervi < c tlPN) sigoni .ui agierinent to e in si n po. sci ge nt loi (bruppe Il p put s hase 100,000 kilowatts of tap,uits \lulwest. we hme the oppot tunits l l

i j and awo(lated encig) Is orn otn to niake nonfliin spot . sales of lis in I

(.rt ahl (;cutlesnan Station < oab < onn ai tual saln to unbors ni that s egioni i

lit t il j dal:1. ~l kle hitig 101118 sale til Wr (t uitiliualh st'll Cln ll H its w hosi stu j alus i

l IP5 will inuh .: I apa< its sales icsenus s genciation h aunlable of hm troin othe i pou ri ,

l i

l of 57.0 inillion in 1992 and inoir than +upplicis w hen their produc inin t osis .o r low es .

! i i

i 510M enillion pt s s eat thiough 2000. Ilv 7 hiough NI APP, we aho base the inenn of an

(

i l i dllj lal ist ill, O% Cllut'h i t (HI) all (B) (lut sili jillis Uniis t? lOQle tt) (I ( all ll} H HI iliti klig ( tilCi gril( irs anill l

< ap.u.its saln during 1991 total 5:0 inithon. Inauiirn.un e outaget l his inha n the inced foi l i 1 l We t ornpleted oui poluon of the woik on the sur plus a ap.u it s. sas ing nullions of dollais Niissouli lowa-Nebr aska ~1 r ansniission ( AllN I > annualh, and innean the ti habihis of she power

! i

! hoc ptojen t. '!he \llN"i juojn i unohn hadding a supph.* l .In t iii Sutrin oprias enun in l

l lObnile, ll3,Ot Hholt tr atisudssnin litic stan ting at 1991 % ale 5177.1 th illio 1, wh jiriating uni Cooper Nuclean Station aint cauling near expenses weie FinM. nullion. Opriations of the 1

St. Joseph, Alissout i. Other parture s in the Elc< tin .s. cru i esulted in net r es e nues of I

a

$31.5 inillion pr ojet I ai r .\ uin ialed I- In t ric $3.7 niilhon I hne not ic ennn, when adjustol

, Cooperatis e, lin ., %t. Just ph 1,ight and Pow rt , Kansas (:as foi noncash iteins and the pios . ion ho oprianng exprene 1

Pow er and 1 ight, Iowa Powri, liu .. ()inaba l'ublit Pou ri ron s e, as pios aint in the I:In tiii 5s stern Mn esiue Itond i

I

)

Nic k R e y e s is i s t r s b u t i o n Serviceman. Scottsbluff l Ou shejob you inight see Nick Reyes iu *the burkes." < hanging sirece lights around M ottahluff. Off thejob. he spends sinse teaching young AirJordans to Sky? The permnal higS Nk k gens from mac hing youth leagues at the YMCA c omes from w awhing kids gtow and learn.

M P

Resolution u sulini in ih ht st ni< c nuriage of 17", tienes \ we ptna hent lonn the Westiin An a Power Aihuinistiation new inctluul ut tinrainining w holewsle t atts was .ulopinl in (WAPA) inc iraseil 11 prii ent. Anothes s air ini s case of l tesponse to wholesale ustoinet inpirsts to resien the appiosunait h 7 pen ent is w hntulni f oi 1991 'l he u senne l

l ln evious ineilu nt of wtting s airt ' Wholesale lates wrir in ent il noin the sale of out eu ou i ap.u us allownl os to l

last atl)nsirtl ist 1990 fe et the 199n 9) peilinl at khit h .

.n itiall) it !nt e ulnsh sale f ates Elt sjutt the sigitiln ant ]

l

', tilne shev weie inlin al .ui asciage of 10 pru ent. inc reme in WAP \ power i mi% A pin osiniaicl3 7 orn t ut l he lloani of Diin ton appiosal the of oui enrigs n yunnnents ,o r supphnt hv WTPA. l 19911W3 whoir ale sates ihoing 19ni g

• A iriail i o t-of art s n e st nih um t ornpleini l

w hit h will resnit in the at raage in cally i992. Re s olis of this stints, w hn h wholesale s ust orner's power inn os pos ates the sanic incilunlologs uu al in i

t ost s <lci r c.n in g 1.M prttent. , establish w holesah i a t es, will ahl us in a t

l cu lutling ihr piottuc tion rost

$ inichti r"linement of oui setail rate atij nstinent. Tie new wholesale r ates wuc .

) sirnitno . An a<l iusinu nt ol ha*i< trtui t ales  !

i j sles elopc<l using a new i-or inrtin nlologs that, foi

. ihr fini son r 1988. will be pm into ef fn t in l the lis st tiene,. inc lueles win t e r / s u niin ci rate Apiil 1991 ' l.ar h in 19ni w e inur<l l l

l (litin entials for w holesalc < nsioincis. The new s ate , $ 110.9 million in l in ti h M itrin ancthodology it in ami of iiscit, inctuic-nential, but ies cone hornis to iefinain e some i

<hangesthe war w- will be o.lln iing irsenor Dom r.n lici hor i ow ings .un t to finam e soinc

(

i l out wholesalc < ustomen.1 he new inriho<lolog? athlisional ronst rut tion pi oir< t t Ihe 1

f plat es giratei riophasis on the t onn ol of sunoner t elinant ing inchules the iriit emeni ot I i loath thitingli Inighet lates aini etu tstilages growth li) . $ 110 inillif'n sti coint'ict < ial }iapet ainlthe l l

winte loads thiough lowel t aies. Conttolling suunnet tohnnling of appiosituatch $71 l unliion lo.nl and athling winter load helps us use scunni es in 197ti N a irs A Itomis. It> taking i inuie rflicientl) antl tleira s t olistilit lhin ad new pow er .uh antage (si the lowri mielest s ales in It fill.unilig the 197ti i

1-l s esourt i s. I lleginning ist 199], the < mi of hultnelectist pow er Net irs A ltonds we w ail sase appt osimatch $ 1.8 nullion osn lla i

Huss Ny ffle r -E n rit o n m e n t a l S u p e r vis o r. Columbus General O ff i c e As an said fMerman and camper, Ruse Nyiller's love for the emitienmeni goes twyond his duties as enstronmental nupervisor. Ele shaies our commitment so prewning abe laml. "We're Nebradans, too. We take pride in proietiing our state's saluable rewun cv

,i

\

nut 1I irat s. w his h will inuit in aunual onings to inn iniluiln gul iinn anil ullagn in w his h w< h ase the ihstiihunon onMotnes s of appr oxiinau h M inDan. ' 'l he 19n2 l u int h w ri r u stiins uenh i hing-u r an I case \ gi ornient s aint its o 4 min-isstH'tl. ili jialt. ItD lLn Nir (i stlsll tit II8 nL I t hls t al a sirw ss sit ili siituitt H's ili w lite li wi' tilit1 s ts < su la ilit' (list i lliitt i< ni ss sit-fils tontaal tento to be innh tiras lioniph.ui, l iiin win inale saln to 2's pnhin powisilisou

.u ni a zww tegional if fit r t entri at Kraine) . i tu al t e p pri.n n e s wi e r 17 bilhon Lilien ati luiut s w hu h anil other athittions alul ituplin e. w .n Te n }n u ent hight t h.ni lhe pi cs ions s e i .

u i.

nients. ' 't he new tes onne hoinh wee r lit en ulniinale saln to IH total ertluist uu nts inurtl at an .n et. ige intric st late 01 nninic ipalitti s anni 2n intre s innu t iett . nut (i.lbu g.ru rnt w-it h 4 oupoin t anging h orn p.u t tal t ot tnit rinrnis annut ipahiin weir 3.7 0 pe s < r n t t o fi.2'i pe t t r o t . ' 'I w o 1.1 hiihon Lilow an lu nn s an inn e rase of nationally r e c ognunt t ating agent u s. Ntatulatt! 'i H pre t e ut in un In'in l'hr a t inais:.h s of e

and Prun *n On[n*tation alul hhnol[* Inteston ille w lit elt s ale sales wete intilitiin Sonit o, raitil the hotuh at A+ aiul Al. losjua tise- ti ansar tions aiul par tit spation sales lo i h. At t ut thug to the latitig agotu tr% we base a othes utilities. '

liut ing 19n 1, appt osiinalrh sts ong opri ating a ct ot tl asul soulut finaan ial 71,.Ti j uco s it ol inn t< ital kilow att lu un saln wri. to pot.ition. hin< r cut- os ci all linancial

• t ength w holnale i nsiointe s atul VM prie rni to irtail 4

t oines fi oin long-tri ct t otit t at t s with out instornrit

• The pown .nn t enrop genciainl i. Y w in tles ale aiul t otail ( nstoinct s. Sloo<lf s sene init t ustonu ti un th < aine 'in pt u rnt lioin runntientral that these t onis a( ts *pt os i<le u nne roal. 23 pre s ent tioin niannon. 1 73 prie rnt finni t osiaint) in the IEttit t's f unne irsonur streatnf walri t huh ru an<l onh 2 prit t ut hinn gav siil on

' 'lotal Lilow att-hotu sain in 19ni u n e a a n nul clanel. A Re t ail Conununin (:nsionici 10.7 hilhon. suipauing the picsious high of ('<isuinit t er w as loi ni, it in 1991 io r\ paint atul

! 10A billiott kdowatt-huin s *ct in lWS. 'l he enhant e i onnunun anoin wit h the c itin aint sillagn luti.231 at tail c ustoinci s n*rtl 2.T. lullion Lilowatt hour s w hic h we sene at a rtail. Altlu nigh we ah r.u h hau go<.it is lationships was 3.7 pruent highre than the PPHI usage t hn a t tail cliusion w nh oni t ustoinct s ihr ('onunitu r will gh t oin instonnis hlausy Ruhlrr At hrduler, liasinngs Cvutrol Crnter As a wheduler. Maury Mur - buys and wit

• po=cr to 4a from oiber uni.iirs. Lu renity. NPPD is helping hirn rumplete momething puuo'ults impanant in him-his education. Maury will receise a bathchu's depee in businew ibis springt shrough our suiti<m rein.hurwment prog < ra

tlia n t at t i u to in on a r egul.a b.ntt 't he ( .oininit te t h.n Nit IMM lot atal along the Noi'h aiul South l*latte Kn n s erptrsentation f rom t onununities in c.u h of oso t ous t h i n it betwn n 1.4 r S h t -onangin .unt Noith Platte. \long with the argions. 'l hr Conunittee piosivies a beinin h n irtail t ustona is Contial Nrhiaska iblu Pou n unt h eigation lbso n t. whic h to .ubb ru iwurs of t oia n ns thes inas base,

• As a irsolt ow an a sepaiatch la rinnt but it lairit butt oelu ti n of the t rase Agu nnents, whu h piosiale f oi the it air of juojn t. we b.n r bi en w oiking to obtani tu w lu t ines the stiatribution n sienn the t ities anil sillages in enett f hoin the I nlcial I neigs Re gulaton ('onuniuion (ii R(1

?

suoie than 513 3 nullion in lease p.ninenis duiing A pphi at ions hn new lu rines won subununt in 1981, 1991. \ (:ounts neasuirn in 7n t onnues whric we aiul asuniat in nnes ! se hi en nsni d la ii R(:

ptuside r i t' t t it seisit e to one io annie sun e espn anon of ihr eniginal Ten scan in roses in unntnututics os ow n othe r proputs in cisal in- l'8N7

• t hu mg ihr s e.n . w e it s en ni adilitional i

hen ol tas atul gt m is senne tas payinents of data ti que is liom iI R( lui tha n use in neatly $5 0 milhon. 't hese pas monts air pitpatation o! a diatt l in nonnn ntal hupai e icquired uiulet state law, nuni dntiihntion of $tati ment (l.1%) f oi the trin ensing of these 1

i the f un<h is inade in t ounty tirasuit n to (onnties piojn is. aint w e i omhu int ihr m i cuai s c itica. sillagia aiul u hool disitia is at t oiding to a i studies anil po n ided icspoines in ,u t oolain c <

piewsibed lot mda irlating to mill lesico i Two with those s equests The ih ah 1.1% was subwquenth iiuputant ongoing pnyu ts whi< h tontinued duimg nsunt raily m IMil 1 1 uc in 1991, we submitted a -

1991 weie the telit ensing of our Noith Platte seulemt ut pioposal in 11 R(; toi inn piojn t that hpbi.eln ttir las ility awot laint with the Platte Rnes pun ides f oi sulntannal emir oinnental enhasu nnent and lit ensing of a f acilu) loi the alisposal of low h+el meaunes ini nulangoni spn new sandhill i rancs, migiatoi) t adioat tis e w aste. ~l brse t wo inues drinainted wales fowl and othm wihlbfe. We bas e atu ay s f rit ihat a i onudeiahic t enunitin< m of om t esoon es .uut negotiatnl seulcinent to the n lu t ming iwurs is m the c ontinunt to attras t wide pirad incilia and ritiern . best intn esa of Nrhi nka and out rust mnri s. 1 The attention. I We e obtinued in out ot t ort to obtain a long team witleinent pioposal ponides that we wouhl aiquisc 1.uul righh lu ense for cio Noi c h Platte lluhorin tri(. Piop t t (Piojn t to dn elop aiul manitain wihllite habitat. In aihlition, ihr 1

Penny Vi n c e n t G e n e r a l Clerk. Oshkosh To the people of (hhkosh, our organismiion h a peine dynaino named Penny Vincent _ As a generat ticrk, hun; talks wHh tustomeio daily.

Aa + mse soinersations arejue as likely to o nier on a rustomen's new grand 4 bild as they are on power lines and eteririr lights.

l l

I ll ( W lsa to 3s{idss ni s at l It ' es sit tiIc .iill I a t $!('s I' D t' u dsic 4 Isj H Isa 4l( n it i 's 8tw

• sii w a%kt ( O dilllai e lIl a L M il l' l lai d 19w 1)n risiom to pu niilt hshriv snainiriunt e Ib nn. In pau flow to la< ihn h as.nlable on a tiint h ham \in sut h f.u iht s inusi ini ti tiainju n t weinnent %uuh slowinie r. , to t he lior iv lin t nion: stii< t h aluio nu nn to pioim i (la publii bralih and salen t onson anon stinin s to th iri niine t hi trauhihn < osh .uul - I s enn ihu ing 1991 t ononut to 4..nin n us and the itup.u ts of waari c onwn ation incann r* ah n,: out iniho othei no< le.o unhnes in the lh o tair i onip.u t thew 4

a n(l al i ig a t I4111 s lljij d s sssitfus atul tits' ein taini es rill s tin hule lin irasitig t e nt s ls u l sit in e llMing at t h i-i ,, .h t . . m - . . . . , n n , . , , o .mi, m m m s. < h i..m n t er ,.-.p . , si h e d. a n d , br i

hahktat t idialH '-tur ni at tisille s; ail (I a tliebr//lefntfit t isns it 144 11 t1I Il8f' lot inel i orninitenrnt to pur sur .ubhtional halohn (:onip u t i ~orninission est i ut u e du n toi .

enham rinent through t oopriath e joint i I Also t orn rining us b the usue of pubbi incasuits with othet pubbi wod , mair entinev .u c epi.uu r of the pnip < t in ihr host s ouun 1 Win L 6 onnouni with a gaol to thi destlopnicht .unt the ingh h u 1 of pohtiial imoh t un ni ni the of t esting hahnat f oi ilu e inlasigrint least trin pr oi ew Nobi:nka hait pin ionsh horn s hown as aiul the thiratennt pipmg phnri as ecso < d by a the hmt st at e. We h.n e u n i rased oui rit oi t s to 199n 11RC order. We tirselopal two utui pu uses ta< ihtate the puni u mul aur ent our agni that oin los in n anti ph n ri nestung to c oinpair usage. (;omp.n t w as one of ilu t e in the sution to meri the inaiturnatu r i mts and dur ah: hts of the saiul pits (ntrt al milestour hn a t oinpit ir lu enw appin ation and no in en i .latuit thuing 1W1. we built arul h.ul hs J uni.u s 1. I'fil situ r the liti ene appin ation w.n as adable f oi nesting an idaiul in ihr t her arnt a c ruihnt as c omplete, we will be allown! c ontinuing leaw<l woul pit in the same an a. We ;u r descloping .u t t w, in l'JJi io t he custirg dnp< isat sites ,uul ausd a snraat ic bl.uul as well as a nraihs 70 at ir soul i nsilt sui < h.u ge of slop pi nts of low-in el w ast t .

3

[dl site, IH 6sli til' wlik li alt

• t%l>t4 it11 in IH' (iningdelnl 1 (liti w as t t- ts [nq t'st nt 13 l>riitg s lil j ij n t'(I til ho nrecg in 19n1 I We c ontinue to woik with Washington, Nov.u ta .u n! $.outh ( : u ohna. Ahri th'c Crottal luit i stat. 1.al _n t i liarlina< tis r Wasti (;otup.u t 1943. thow iln er states no longri air injun nl to .n t ept the

('a utuniu'nin atul tlir < >1bri nw leat m ahties withiin the tho+1 air wasic ht un tlir v eni nui le.i. plault in jainlas s 199h, l'edn d k' u r t Gutes. Gas Turbine s p e r s a l i .s ! . S h rid o n %tation Aurt 04tes' ski!! with ma< hinct) keeps nur gn turbinen ruening snmuthlp to seriember of 1991, Aurt may hase gisen a women the c haewe to rsm again, lie used iskills he perfened n a firu aid imtructor to one the leg of e omstrwtion wwker injuted at the iit( nok pemer plans. -

l

Td law se<pmes e u h state to .u t i pt the iesponsthihn f oi ns own tinime iln was at t oopt i Niation w hn h n a in st im am w.o of waste. *, We it main t omontted to do ru n sinua i asonabh nos inal u lnalnh d ope ation , int e the plant i oinnwnt ed pomble to auute th is a <lesluisal lat i'an n anulable to sah h t e nunn u t,d oper anon m 197L

• iriald t.i nileman station. a thspose of low lewl i ulinat t n e w asic toi the he nt ht of all two uno e oal fiied plant and the laigest gi ncianng lat ihn Nebr ask ans. 5 (oope N ut te.u %t ation b.nl a ut ou on om u ste m. hail giou gi nciation of n inui billu m e

genciath.n of I nni hilhon Ldonatt honis duimg in91. Lilow att honiv whit h w as the st e nmi highest sinn e the aint we met ni cu reded pt ilotin.un e goah in we oint unit went onime in 19 k2. l he two tis of the ten per toimam e an cas hn which nonnualh ian d 6'm unn Lilowatt units hin ncil 199 i goah wi ie Nabbhed. 'I hn e war dat.t 3,31T Ono i< ns ofiot so!hn eoal 4 ot. ( ellen e

s imlit att s that we haw met os est eeth ii Wy oming. .n ca minet * (',cotit man Nianon is the inciban nulusus prifor mam e in nine of utihn d as a piiman loaillollow mg p! mt w hn h the tt n pelloimain e airat 'l bh .u hicament h means ihai the Niation will be below the nanonal p u t n ul.u l3 signilh ant in siew of the subiantial awi ant tot t ap.u in I.u ini bot ansr the uinn air peitosinaner impioninents inade by the innlear not alw.n s inlh lo.nled. Ilow es ci, t he e ost pet uninsin in a ct t nt u an. * 't he plant was shut dow n kilowan honi is wn c oinpentn e with othen t.u ihiics liom I h iohci i to li se emhe

17 ho a w beduled in the irgi in. W loi piogieu was m.ute on the s ail t elueling aint inamit nant e ontage, l'he it f ut hug spui to c onnet t the statmn to the l'inon P,n lir untage w as exicinit d appioxunatch tw o w eeks, mainlme in oides to aum e c oinpetit h e u.unpotta-paitly due io e oin eins aunt lated with the irai tor tion i.ues ho a e oal supph. (:nn enth. the station h a pit um eaeuel he,nl studs w hh h ne w i t plat i.d. t aptiw t ustomei of ihn hugion Nonhei n. ' l he final While ihr outage exicosion ha.1 a negat h e impat t ionic ho the spui w as u let ti d, allowing initial 1

on petioimam e lot tu o of the stairil goah-mut iontatt w it h ailes ted laiulow nets. '.lo i

capabilin f ac tor innt (olh ( the i,uliation exposin e- appik ation ho the tW ( oi ps of I ogincen in total, the outage w as t onsuleird in he seis sm t ruinL 601 primit w as suhnnucci thning the was. .nni the peninit ,as

\

- I heir weir no unplanned aniomath u iains exper iem cil iuned cash in 1992.

• As out sin blon Station < oalIb etl plant.

Ron J o n e s H e r cip t insperter, Lot >per N ut t fr u r \tatron Called to duty in Operation liesert 5torm. Iton jona was proud to sen c. *INe teen in the resence for 22 yrars with t' rule havn pavtsig sne to da ajob. li was time to pa) him hatL* While in %4tada. Knei rearned rwtranoliniairy sunwitt from fru rids,iarnity and NPPD.

1 i

I

gains gi at tatnin doitng the st as w.n iINI billu di k ih en ati- hout s i >l anin tal i s pi nin i i hn an an t n unlu ailu i 1 the high luim t ihn hu ilits h,ul ils hight st t ap.u Hs I u is o snu c In7N the M a t u l.u ds ni ilu u e ul pl.u t' t h it .n o s nal to sah ain t piinlui tn e grat tiu hast unit ist (.t utlt man %t aln ut w rtu ein har. niihn i *pri ai k o n a s.rhtitd a tai at l b o nphan ni vinib Nhrblon bai ned o lRuno nins ol' t ron al Nt br eta as ihr h a atu o it i neu u stem u ule e oal ' sht hion v.oion obsen ed t oni s ol i s nt n uhn h has a n est iin at ril i mi of il s P.ot h .unik riun iho mg the seas Wim nulhon. ini huhng t he ophnut an d tionpute i with an ope n houw alltinted hs mine thatt 3,t H H) na t h ol k . hat ih nt d buihh ng, pal king .nul l_ind pra sple. ' We had sa s t n prisons t allnl to sene m au a pusn o.n e Puu hased a new n un enal idth r i Ipriatisin li u e t %hh hl aint liru 11 %te a m. As t buibling in T oll a urw dati n I ollu r an ni ganiration, w e suppot ted t he m by buihtuig ni Plat tsuuint h and in at t d nte tuhng the is pas ho ali t xtla inonth in - ' s oinph in oi s in a ni n f ac ihn iii ht ai nes nihhfion to thrii mihnu s s otupensain ni (In the '

to house i t gion al e s pi t allo n s. ait a i

hoine loint, we suppiu ted tht m hs u s taitig lettris, <

t r a n s tim ulo u aint subs t ainui t s o w s .i n d senshngt ut pu lages and sprinhng time w nh the  ; h eiganon 4 t ow s a ( omph ird a nt w haiah ned sei s h emenN l.unition (Hni ahvis *n sn r was 4 ' ~

1

)l)ata(<otri hi iu s n e sv on e innputri equipuu nt as w -. $

t oinpicts , we ut h oined thrin hoine u tlh itulnidual U'_

l ,

pu t til a non .u b ht o ni tii t he ( t eintohus ( .riu l al

t. - g e

a rt eptisiin holuit ing rat h s esris nt os gu.ti dsman. }j ' . ,,

( )l' u e - e lin' .ta t e d a pr eigt aut list to himse v.

"s

( hu r thes had all it-tni ne d hoint . we ht hi a b o nial F Ji , t hciinin nit en le sting a.n is .in sin ns o.a lu tes ain!

~!

irt eption ft attning Nebiaskai (imgirssional I pati hawd an intiaird t ann ia thal ur air als e I

14t pirsentatis e lhll liai t a it. \\r wt it lu unit e d hit snak uig awol hlr to sini w holesale i usn oin a v e in the

, e i

this supptit t with aa aw aid fi Hu the l h le n' t' i) f-k-

Red Willow subst ain m. Inu aHrd a i onupit it is

• e' liepat t ine nt. In othei notewoldn at tiulit s tot t rus iutui S li nt in u ,it ti sostni nna t hal i.nled ni juh I

1991, we: e 1 at ned ihr liist pl.n r aw ant in the of luun 't he n ansh u nn i w as icon ord in wn u t Antrairan Pohlu Pow er hot iat ioni 1991 Nalets ( -ontest h o ni }uly lW l. whith a a titue liana u t 11 alu .ul of w hat is pubin h ow ard niihties with nu u r ih m h.ui tmiloin woikri- t iensuleted a nio mal w ht dah us the n a hnli s . ihr su b sl a t io n Goylord \ ri n g t i r r D e s t r a t I \ u p r r o n t e n d e n i, fo r n e r a

. Itcing superirnemiroi of a siwounty thsoht should be enough resemubiluy for an3one. Na Gnlon! %gsivt. k hen he gm

• home, he uann his other full time job as m.iyor of Geneva. Gastout bo ame myor due to his ime for the o.mmumt3 ami a desire to su benoa grow.

t pitnitlrs

• Iliap I tie wisil 'siinih ns t i l let ti u ( a uij n i ain t- tu e \shipuil jitenieintas aunt ing a s entinuni t iniqiliain - with Kansat e ( a stupirirtl t he set t elut g rat t il ; thin trat l st e igi .n u 1 ta nientin nt al l'i t elta lvisi .\gi in g i rgulat u un sin hat.n ih nn fot a t onninric ial testing c omp.nn to ln tlotin t einipit lu unnt niair tiah run s u tu s it spmne to plotn i tla nt w lu i en.n hr inspn tion of all Insh anlu amial npupinent to i nun e the irqnn ol to n spin-1 to < heinit al slulls. e loi;ilt un ninl a saf et s :nul is lialuhls of the o piij sinent .nul salets til tint sit w inatiagetnrnt auruturnt e rnu luigi. int niihinig the people, e ( nntiont al to Inale poigt tu in incrInig ont 2 lieg t lopini nt llant usions I n t r i n a t io n al Pl ogl ain

b

.\llis tnatis t .\t tion giuls in Il ir bilitig atul k e lies t liipt al a i nses snu i n e lalu un woiksluip to bc lal ti ttl(a t is iin til neltltilitif s alltl li lit ale s.

~

t f

e d it'i t11 lii l H t iliIt' IIlitHigluHit init t il g ilil/.tl u ili e IWlalihslini a a to-tip hot snati piogialia unh aint alu s (In rh aj ent a g nih!is as uin w ha h Ints all Nor t he.tst ('oinisintut t ('t illege aint hit rti t ht' w ot Lshops aint i nwon s t e s we make srt ett Ni ntle nt s (t otu t hat pioglant 101 .n .iil ahi t ' ic e a un w in ds s tle insoittut% We sutninct etnplog nu nt, e Itapleturtitetl a (tunblri < nit e inintut tne ni 12. sriting one n uinhet of t a nt s ontanonent atul tuanageal ttattmicsi as unn e t han insi a pih. We t at e tuintilit ations in ont sellfutulett beline in tlir c oeu rpi ot puhla pime-a, innlia al lienclits plan and totainn! lilor ('inw aiul take privinal piple m oni e lloits Pilt:r %hirbl of Ni lu aska as out lu ispital usedu al to w ise a ustonn It \\r t.n Ig this

) (lainn ailininii t t atist. e ptin isle TI t r aniing tai le sjnonibilit s w ith us t en t he pib tlune w ho at e ( et tilit il .\tutt u an Rtal ( t ou atul when we air lettishnl us uling his the clas, illstitu tnis ului, in lus u, t raioril unis e than $ ( pui rinph n t ei w illitigness its set t e ilu li If us in lit st ais! .nni ('l'R t t t h ntqnc o t titutunanties, lusth ein the pih atul oil, has 6

e% 1 rigonomic pioblenn aint uihnions insidging i ontiihnical to the *ut t ru of out i

itijnlit s f ol' ha' k sn ain, t al pri tulon 1 y tuh orie .nn! Oi gani/ ation, l htough thrh elhu ts

\ibr ation injtus ,nvl tesletl rigorunnit abh stu b as h,n L we h,n c been able to ou himr en.nn of ont nig.un/ation\ goals suppot ts, heist suppos t h antl s ihl at hin-dainjiing glos os. <ltn ing thr lpast )t al .

le Na n cy }$ a te k i It A ~ C u 88 A u m t' r 1.' d to t n i i n n \ f r i I a li t I, k' t a r n r y g Gotutthuk to w huol keeps Consumer letmation Speciah*t Nancy Hakins on the run, but thew dan the goes to the head of the < law, ai e trawls thr ughout 0cueral Nebrada etlutsting nimienn throuw,b u nior risinns about ihr imponst of cletir'u- at ufrey, j natural resoun es and protening the environment.

l Nl NPPD 1LFC1RIC 5 Y 51 E M Reimrt ofIndependent Ar<ountants To the Board of Diret toss Nebraska Public Ptmrt Disaitt:

We have audited the accompanying balance sheets of the l'.lectric Sptein cf Nebraska Public Ptmrt District (a public corpotation and political subdivision of the State of Nebraska) as of Deccioler 31,1991 and 1990, and the related statements of revenues and exjenses and anumulated net sevenues, and c ash ihm s for cath of the three 3ran in the period ended December 31,1991. These financ ial statements air the responsibility of the District's management.

Car toponsibility is to express an opinion on these financial statements Lsed on our audits.

We conducted our audits in acc ordance with generally auepted auditing standanh. Those standards require that we plan and gerform the audit to obtain reasonable assuram e ainut whether the finantial statements are fac of material misstatement. An audit includes exatnining, on a test basis, evidenc e supponing the amounts and diulosures in the financial statetnentt An audit aim includes assosing the accounting principles uwd and significant estinmtes tuade by management, as wrli as evaluating the (nrrall financial statement presentation. We believe that our audits pmvide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present f airly, in all material respects, the finant ial pos! tion of the Ek ctric System of Nebraska Public Power District as of December 31,1991 and 1990, and the results of its operations and its cash flows for each of the three >rars in the peiiod ended Dennder 31,1991, in conformity with generally acc epted accounting principles.

Our audits were made for the purpose of funning an opinion on the basic financial statements taken as a whole. The supplemental schedules of the calculation of the debt service ratios in accoidante with the Electric Systein Bond Resolution for each of the three >rars in the period ended Dec ember 31,1991, are presented for pullw$ of additional analysis and are not a required part of the basic finantial statements. Suc h suppleinental schedules have been subjected to the auditing pnredures applied in the audits of the basic financial statements and, in our opinion, a,e fairly stated in all material respects in relation to the basic financial statements taken as a whole.

)

Coopers & Lybrand Omaha, Nebraska hlart h 3,1992.

ES f d P i' [ lI ( 'l mil 9 I

Niaru e hherts -- l}:-u mler 31,19')1 and l'N0_ __ ,_ _

)W

_1 _

1971 (lhousandq

< ~>I Utility Plant, at Cost $ 743,900 $ 751,121 Ins-Resme for depiniation and arnortiration (Nots 1) 336,038 360,816

$407,462 $ 3r*0,305 ly;12t 13csene Arrount _

_. _ $ 30,171_ $ 10,132, _

Ruc ivalites:

Advance to Powel Supply Systein (Note 3) $ 6,100 $ 6,100 Sale of prope iy 5,980 7,016

$ 12,030 $ 13,116 Current Assets:

$ 112,223 $ 124,170 Cash and investments (Note 1)

Re< eis ables, len n eserves 47,085 49,529 Materials and supplies, at average cost 11,236 9,661 Prepayments and other assets 515 488 5 171,059 $ 183,818 Deferred Cornpensation Plan Anetspte 5)_ _ ___ _ $ 12,422 $ .11.563_

Deferred Charges:

Nu<Icar l'acility billings (Note 1) $ 23,010 $ 16,737 Unamortized finanting < osts 1,425 1.593 Other -. . 691.-

.-._2_ _,3 30 _

____ . _ _ _ _ _ . . - ~ . . _ _ _ _ - . _ _ . . . _ . _ _ . .

_. _ _._ __ ...b_.2)E b._ 5_20y40__

m._. m ___ _ _ ._,. _ __

_ , 56',n,723 $64gf4 I I A H 1 ! i 'l 1 i A N 1) ( '. I' I .\ t ecuriulatdNet Jhenuts @gtelL_ _ _ _ __ _ ____ $ 223518_$ 216J53_

Long!11 rtn Debt (Note 2) $ 282,690 $ 295,312 Cornmercial Paper Notes (Note 3) 58,915 58,915

$ 341,605 $ 354,227 1N,360 12,744 less-CtstTent maturities (Note 2)

$ 328,245 $ 341,493 Current Liabilities:

Current mmarities $ 13,360 $ 12,744 <

Ac<ounts payable 11,864 16,373 Accrued lease payments 6,860 6,819 Odier 10,956 7,680 <

_ __ __._ _._ _ . _ , _ . _ _ _ __ .___ __$_46 040 t $_4_3f,16_,

Deferred Compensation Plan Liabilities (Note 5)____ __ $ 12,422 $ 11,563

$ 50,461 5 34,902 Deferred Revenues (Note 1)

Qnanmrthyp, Payment Received _ for Refinar!cing Costs $ 1,037 $ 1,207

= = _ ==- = - = -= = _ =_ _ _ . = - , = _ =~ - 5(@0'I21=.5$$h2L l

11w eacwtfasn v:t neln leftwuia stssWmenn are etn integra!fvt ql that MattrM*th.

!M t y , <

y c ,

5t>uemtnei of Ren nuts an<l listennes and A< < tunulated M i kru nues toe eat h of theflher bry in the IVrimil'ngled lirternter 31. 1711 IW1 IWO 1989 (I houutnds) licienues and Expenwn:

9i*8A hy t Mntuut:s @ote_1)_ .

$377,123 $ 379,283 $ 369,6f4 Opciating Exgwenes:

)

lbwer pun hard-Nuticar l'arility and Pimrt Supply Systern (Note 1) $ 214,588 $ 223,622 $ 216,406

> Other 40,383 33,551 33,880 Prmlurtion-l'uci 10,534 10,fl03 10,341 Operation and snaintenanc e 14,306 14,707 14.208 Other ojeration and mainte nant e 37,213 35,775 311,619 leaw payinents (Note 1) 13,354 12,657 10,363 Depict iation and arnortir=ation (Note 1) 30,029 25,555 24,424 Payinents in lieu of;ars 5,203 4,984 4.941

'1btal operating e_xpenws $ 365,610 $ 361,654 $ 353,182

_.~._ Neiopetagng rew nues . $ 11,513 $ 17,629 $ 16.47fl Intestst and Other Revenoco Alhnvance for funds uwd during constna tion $ 1,344 $ 995 $ 591 Inte:rst and other 11,053 12,903 13,8,55

'1btalinterr3t and other revenues $ 12,197 $ 13,fl98 $ 14,446

.__ Net regnmyJwforepda r ge!hu:tii!!n._, , _ _ , , , , ___ _ $_2ppj0_5,. 31427 _ $ 30,924__

Other ikductiour hond interest $ 18,029 $ 18,693 $ 19,305 Other interest 2,216 3,011 3,206

'Ihtal other deductions _ _ , _ _ _

$_20,24 5 _ $, 21,704_ $ 22,511_

Ne t llevenues (Note 1) $ 3,665 5 9,823 $ 8,413 Accumulated Net Rnenues (Note 1):

lleginningbalance 216,fl53 207.030 198 617 b .._ _$ 220,51_8_$ 216_,853_$,.2_07,0_30_

EndinLalance . _.m. m - - c_._-~ m - mo The marrtauning swun sufvum ud uatrmecs are an vargnd part af skw aan nwnu

\

t

]

[ipj d

't fd P. P D ' C L E C T R t C $ Y '5 1 E M  ;

4- 1 ,

?

wmna o coh r n= fo: m h utd,c h on ,

_. in *he hiemi tidsd Ihemtre St.1941 1991 two 14tt9 .l

(' thousands) l Cad. Dow+ pnwided by (umt in) operating activitier  : '

$ 3,665 $ 8,413 Net rewnues(Note:1)

$ 9,823 Adjuan.wnts tc. ret ornile net income to ne t cadi pnwided by operating adidfies:

Deprniation and am6rtication 30.029 25,555 24,424 Depreciation charged to operations 879 842- 825 Amortitation of deferred charges- .

(

Nudear Facility . . 6,961 20,300 12,2ti7 i Changes in assets and liabilities:

- Receivables, ten reserws . -3,480 2,969 (5,975) -

. hintedals and supplies (1,575) 323 (567)

Prepayments and other anets (27) 40 (59). .

-1

Addition to deferred charges- '

Nudcar Facility (13,237) ~ (14,146)- (9,107)

- Other deferred charges 1,804 1,457 1,893 Arounts payable and Accrued 1 case payruent's - (1,468) -(667) (1,923) ~

Deferred irvenues - 15,559 4,699 19,475

. Other liabilitien - 3,217- _

(1,401) 3,590

- Net cash flows provided by operating activities $ 49,290 $ 49,794 ___ $ 53.276 .

Casti flows pnwided yb' (umiin)imrsting activities: .

, Utility plant additions- .

$(49,472) $(35,201) . $ (33,303)  ;

' Proc'eeds from sale of propetty .I 008 t

1,458 1,964

Net change in Debt Re crve Account - (39) 54. 30 .t Sale of1mestment securities __311,070 320,926' 188,7'15 Purchase ofimistment securities, - j87 723M331652JJ94dL

-Net cash flows uscu in investing activities $_{25f56)i$144 4_15), $(37,2111)_

1 ,

Cash flows provided by (used in) financing activities:

Repayment oflong ternidebt t $ (12,733)1 $ (12.286) $(11,479) ,

, , Repaynient of notes payable - (5D; _

Net cash flows used in financing activities - $(12,733) $(12.2867 $(11,99ti)

Net increase (decrease)in cash

$ 11,401 ; $ (6,907) $ 3,999_-

30,012 ' 36,919 -32,920

- Cash begin_ning of year) ,

T Cash end of year - .

. $ 41,413 ~ $ 30,012 _ $ _3_6_,9_1_9 i l

L' 7%= tape maa spavahus,,mu are a i,es,a!per of M aw,mu Ii>: --s s

a

• Suppleme'ntal Schedule of Non-Cash 1mesting Activities:

7 i 77e Fktrid bstnn soutwujerty and mvgrad a meio cf aftmrirmtdy si mWim in 19%l -

[

l t

t

1. M + v a e 6 -r n w r e -b AFr= e *-= *-A--am*ww17 r r's---n ma n ar **ew - r + ow- w- r wrw --" w = hWva +

1)

NPF D I: EC1kIC $Y 1!M Supph nwnta N hntuks-Cah ulan,m ofiku s n n e R,nw in wrde r w nh tte laun-s Amtm Bond Rew,hinon fut a w h ot d,c 'lherr % arw ni the b n.d 1.nded Ib nd.cr M. Phl Uni Ph9 P@)

t'l hooundo Ojnerating levenues (Note 1) $ 377,123 $ 37u,2IU $ 369,660 Oper ating espenses (Note 1)' 365.610 . 361.654_ . 353,182

)' Nc t operating rewnues $ 11,513 $ 17,629 $ 16,478 lidt trst and ok srwnues 12,397 13,898 14,446 Interest dedudiouw 20,245 ~ 21,701 22,511

' 3,665 $ 9,823 $ H,413 Net trvenuesgr Qnancial staternents $

Add-D< feried revenues ruluded fmru o;rrating rnrnnes (Note 1) $ 15,559 $ 4.699 $ 19,475 Interest dedonions 20.245 21,701 22,511 Ocinetiation and amortization 30,908 26,397 25,249 5 66,712 $ 52,800 $ 67,235 Deduct:

Provision for operating extense reserve (Note 1)" $ 15.559 5 4,699 $ 19,475 Athrwance for funds uwd during construction 1,344 995 59) investinent incoine retaine<lin anenu tion Iunds , _ 141 _ __. 3,637 _ _ 3,736 Net revenues available for debt servke under the Jl' ectric System Nnd

. Res,ol,ution

+ . n(Note--n.

1)* ~~ ,. , , u

$ 53,33,3 .$ - 53,291 $ 51,846 Ainounts deposited in the Electrk Sptern Debt hervice Anount:

Principal $ 12.425 $ 11,767 $ 11,160 Interest 18,02_9 18,693 _ 19,305 _

- $ 30,454 . $ 30,460 _ $ 30,465

. - , - _ - . _ - - , _ == --

Ratio of n_et irve_nues -avail _able for debtc=sen it e to debt,servk e del._u. sits. (: Note 1.) 1.75 1.75 1.70

-= - . , c. ~ _ ~ . = . .= -

&GH mg nie b[WJWN JWFMti #f (t4 inyd[W1[MWf' d MWMa

• Tk awtuatum ofkkned sky n v:<.%ird m ska sumwt awww a,- t yrwng Lntem to awuf m minustNvt levenun A ku sta wel<hacen u en jaini h amowndf>aps mes andahn uro aured dawt em md/telve uhuh wmtaus W+1wted euirkhwa nin ik Lie,t u %snn kn u t bdutwa lhe f.learu kdutwn vnptres subordunated odthinhwu k be twl]nm the Gewd kmt l'uruimuud mkr t*v f1n tsu kdaean

" */'k FeaN kdatum &fnw tbfmuy htren w mdudr tw,es, mw rnmn m tk (yrrang Iwife okyaven. ,ffauve ajoatmg ofn,n Tk jmn,um >

<1rarmg opeme rum rep wou the art ckng, sn the currwhau suct h a enem,n m nuh respnturpefn,rn bah ablade and triad wrvue

bl}

' < 1( u Ni FD l i + C 'l R! <

Notes to financial hiate me ms im3 rmlhon in lWO and $123.ndihm in 19R in pou r pun hard exprnw The above driened c harges are expetted to be nn erturd as follows. IMl118 ndlhon,1991 til 2 unthon.

1,

SUMMARY

Of $1GNIHCANT ACCOUNTING POLicits.

r Ned m h 11u ar uma reprew rt muam e expenses on adl h nds and tie prenouin to retire the f acttrw System Revenue lionds.1975 heties, pruir to their A. Wawassai-11

• Distrut has three wparaie thvisions kor anounting imrpmes snatunt y date and are twing anmiwd mer it, hic of the respn tiw Innis as fathmr using the lainds outstandir g nethod Octtrir System Y t%wumiIbrme a knrumipt lytum ng Gw-Power Supidy System

" " " " ' " " '""" ' "' "' I'""'#'""

Nut trar luility refinanting conts of slw 13cttnr System mt utred in 194 and is bring As required by hond Resolutions, srparate troents inre tuaintained hit amortired owr the hfe of the 19t.8 Revenur liond haue unng the bmda cath division The lacceric Syrtem finantial statenente extlude the outstandir g nwthod.

Nucirar rarility and Iber Supp;le Syurm, hir whith finarwial matenwnts G. Cad amlinmtmrse are presented w parisu-ly twrcirt. Ihr Urttrk $ystetti financial statements should he scad in conjunction with sud other finarnial statements. P41 1990 Derenihrr 31*

Nebtaska Pubb.1%er t hstru t is an elettric utihty whu h te ils electric - -

ener gy to w holesde and reta'l i c ustonwrs in the Midwest. The I hatrk t's (Thousands) umtratis and rate m hedules s}wtify the thte period in whis h b1hngs are Revenue Fund $ 20,794 1 17,440 to tw paid aber servim are rendered.

Optsaung fund 15,284 12,149 11 lkpaalue, Awafusta and Afmtr=m<e- . Constnution funds 202 2,952 The lhstrict records depree iation rwr ibe estimated uwful lite id the Gmnwnid Paper Anuunt it.,817 22,677 projerty. Ik prrriatinn on Utility Plant was appn ximately 3*A in e uh Ree and Cetineng i und 1,236 1,237 t.I the years ended Decerntwr 31,1991,1990, and 19ft9 Gnwral Reserve l'und 57.890 67,720

%c Distner has hmg-tenn Iraw agreements with approximately 200 g ;gg g ggg79 inunk spahties %ew lear agreenwnts obligate dw Ihatrirt to make irave ~ ~**====*- ~~~~ ~~~~"

payrnents and pay for nonnal pniperty additions dunng the terrn of the Funds tonnist of $70 B milhon of investment wrurites am,141.4 lease. The theiritt has recorded provisions for amortization of leased millum of wh degnaits at Ibember 31,1991, and 194 2 nullion of

- plant adchoons of $6 7 udllion in 1991,55.3 ruilhon in 19%, and $1.9 imstment scrushics and $30 0 millum of rash dquaits at I b emiwr 31, inillion in 1989. %rse leased plant additions, which aie f ully te.wrved, totaled $64.4 nulhon at December 31,1991, and 157.7 Inlltion at 19M Tl* f t"7 ngi due ofinventnwnt securitics approxiniates ruarket.

December 31,1990 Cnh deptsits, pehnarily imerest traring, at Ibtmler 31,1991, and

%c District t.har ges maintenance and repain, indudmg the (nat of throughout much of the yem, were covered by federal dqmsitory insurante or unregisttred U.S Ouvermnent and munickpal EMurilies rentwals and rqJacments of minor iterns of property, w mair teDam e held by varkms depmitories Investments et Ibember 31, lu91, were cywnse arrounts. Renewals and replacements of property (exduaise of minor items orproperty, as set furth almw)are thargod to utility plant in unregistered U.S. Government suunth s and Fedetal Agency obligations held in the Distrht's name by the custmhal banks acc ounts. Upon retirement of propeny subjces to depreciarkm, the cost Tlw Debt Reserve Aucunt in ti'e Debt hervice I und is valued semi-of property is reuxud hutu de plant arrounts and chas grd to tlw rewrvr annually at January I and July I at the lower of cost or markrq in for depreciation, alunF with the remuval roats, r,et of nah age.

accordance wnh requirrnwnts of the 13cotric System Revenue Bond C. ASwurfr his LAalharing Cmufratwa (ATUDC)-- Resolution (Ucrtric Rewdution). Tiw scruritics in the remaining funds This allowante, representing the cost of funds usei to finance are valued at the lower of uni or principal anmunt in

• rutdan c with constructke,is eapitaheed as a com}xment of the ccur of unhty plant and requiremems of the 13rceric Resolution.

is tredited to Interest and Other Rrvenues. %e eaphahaatior, raic for construction finared with revenue lmnds are bawd on the interest unt IL A N"'d A * * "

' of emh inue less in wat incone. ne capitalization raie for construt tion As provided in the Dretric Resolution, the Duirict iosenants to tharge rates for wholesale and retall electric serwc so that restn'n a will

' financed by revenues is bas d on the weighted awrag rate of interrst of be suffhicnt to pay annual operating expenws indudmg 1) Nutlear the current outstanding bonnwings. For the periods presented twrein, dw Farihty and Power Supply Systern charges,2) operating expenws other

. AFUDC rates vary fruen 6 0% to 8 0%

than deprniation, 3) delit sen u c, and 4)tertain (apital additions.

Defened (harges as of Ik ccmber 31,1991, reprrwms $23 0 milhon of Nudear fullity bilhngs for t.criain capital additions. The Distritt induded anuwtiration of these defened t harges of 17.0 milhon in 1991, e

- - _ - _ _ - - _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ __ __ _ _ . _ _ _ _ _ _ _ _ _ _ . _ _ _ _ _ _ _ _ _ _ _ _ . _ _ _ _ _ _ _ _ ___ _ ___ -.__------_.__________,_.__4.___

I l

NF ' !l i , TR!i - 1 L*

Variation brtween attual energy tuvis (pritnarily furt) and de An oi t kt emin r 31, lW1. pnio inal pain.rros td llettu hptem lanig-einmawd erwrp ums im luded in the tmi, rates enay be reont red l9a hrm ikbt for tlw next five we sec.1992 til 4 nullion; 1991 lit i Produdmn Ctat Adjustment (PCA) thlbnp for tlw I'GA pnwir for alw unthon; IWI $14 9 milhon,199bl5 fl enillmn,19% $16 il nullmn rntnery of dw saristmn in etergy outs e ula e in turrent or future vrait InJatmary IW2, ihr t hstrat ioucd $140 0 ::dliu.n of Lketris 5ptrm in the esent the ihnrn t's rates for wholesale and tetad sets ur, Krve nue llands, lW2 Sotra A.11ds iswarut t uniisted of $64 6 milhon

, en tud ng the PCA, rnuh in a surplus or ok in it in rnenun during a raw of Srrialliondi with amyxm eates of 3 70% to 5 70% and $75 4 inithon tenal, smh eurplus ot tk fwit in tuktn imo au ount in propn tmg ntimated of Irrm i unds u uh uiupm rates of 6 00% to 6 25% lle pra reds inim revenue requiremerus fut future sate gerhds. Suth treatinent of wiude- tlus issue wdlle ued to refund $714 trulhon of l)ntrk bpwm Rotnur 3

sale revenues is viipulaird by the Distriv t's long-term whoinale luiwt r bindi, P06 Sees A, arid to retirr $13 0 ininain of aonirnettial pai cs supply rontrat ts. innen %e retnairung $55 6 rmliion wdile uwd to partially fund IW2 and Tie rornbmed surgJun u hic h arose in IWl,1930, ant 19119 from ihr 1993 tepital g .ptis.

PGA, wholesale, and retail eenitr has twen nuoutard for in the w As a soult of this issuance of IJn trir hystern Revt eme Itonds, prn financial statenants by a rMenal of rewnue. 'De tumulanvc surplus at Serin A, the rnind pnmipd payments of I tri tric $ptem lamgltrm Dnember 31, lWI, to be reflened in future revenue requircrnems is Debt mtr the next fhe years art' IW1 lit O rnithon; 1991114 7 rmlhon.

apprmdmairly $50.5 rnillmn lWl. lib.7 mi' hon; IW5 $17.3 ndtlam,19% $10 3 smlhon.

I /emw bgwam- 3. CONtM LRCI AL PAPI.R NOII A Whtdr. ale revenues an eruirded in the peraid in whit h senitr is he thstritt a muihoeired to inue up to $100 0 :nillon of a omnwn ini rendered, and, in anordame with industry prai tire, retad revenues are peger notu A lener of a rnht is mamtained with a tank to suppen ihr sair reur Cl in the momh rt tail t uitorners are inlied. Gunsrquently, rnenues of the t omenrrtial guipri notes. ;4ns k Jer e h redit cupists in Nmemtwr, apditdia to servue rendered to triail customers Innu d c pi riod unterd Pr94. I he eficoiw imert et iain or sutstandmg smin for 1991 arul 1990 la thr las hdhng in a yrat to the end of the year are not retwded as were 4 5% and 5 8%,rngwtivdy t ewnues t util the follming yrar. Oprratmg revenun att aim irnpaard 1k pna reds of ilww notes are hring uwd (11 to finanir tenam a apitd by the surplus or defint in erwnues as dem rihed in Note ill adihnuns of the NuWar I auhty, and (2) for othet lawful purpers of the Ihitrict,imiuding a, Adsame tu the hmet Supply Spient

) AaunudwdNes knun- In 1992, $110 milhon of tomme roal pa;wr notes will tw roeired with

.I'hc an umulated net rewnurs annaist primardy of <umulan.vc prm ords f rom the 1992 l'lectru. Spir m Rcwnue lionds, heries A, as opeintmg revenues onlinted for unhty plant ad<htions net of related dess dwd in Note 2. ,I,he remaimng balam e is antis ipated to tw rtiirrd auumulated deprw iation. 'Dr remaimng auumulated twt rnenues w-ill from trpapnent of the Advame to the howet Supply Spitm and frorn le fully ofhet l 9luture deprn iation crirnse. In adshtson, an umulated 1Jconc System rnenues twt rewnues im lude rumulathe imerest mrone carne d on Constrwtion l'unds whuh is not subject to the drfrrred rewnur auounting dncribed 4. RLTIRLhlLNT PLAN AND POSTRLTikLMLNTllLNLI1%

in Note ill Tlus interenc mtone was lo 1 milhon in 1991 amil3 6 milhon The Dutrio has a ertirrnwns intome plan eovering ita regular full- ,,.

in Fn0 tirne emphners, substatnially all of uhoe have clertnl to parhiipate.

Employce's mntributmns to the plan are by-l en salary, and the q

2. !DN41 LRM DI:14 thstrict's contributions are alhu n'ed to rac h emplace,a trust au nunt Dn erntwr 31, 1991 1990 baird on the rnpl.9er's tantohutions to the plan. %r plan pnwides for

• E** *T * * *NA""#"*

(I housands)

Rtwnue llondt imiuducmt ranune %c hurkt's runtninnuin was $8 nulhon for 1991,16 4 milhon for 1990, and 5 5 ti million for 1981 hn id lionds--

5 26,730 $ 34,010 11w Distrat aho provides arttain health care, auident and hir 4 90%h.40L duc 1991 to 1995 39,859 39,MO * * ** I"# N I"' " '" #"M"#" b" "'"i^b "U"IO' " '

5110Fb.10% due lWei to 2tiOO i 49,740 49,740 nand nn;Qrs are chgible for im h trnefits The nra of paaiding thne 5 004610% duc 2001 to 2005 twne fits was $15 milhon for IWI, SLO milhon for 1990, and ll 0 milhon 5 75Wti.40% due 2006 to 2009 27,820 27,820 for IA19 Term Bonh. with annual sinking fund requirements-SJO% due IWI to 2002 32,340 34,4M 6 60L ("ue 1993 to 2003 33,200 33,200 6.75% duc 1991 to 1995 14,110 17,100 7 00% dur IW6 to 2005 57,250 57,250 5 281,040 1 293,% 5 Lease Purthase Payables-2 001 duc 1991 to 2095 2,t'O n 2,912 Unamortired liond DWrount (954) (1,065)

$ 28L690 5 295,312

=-, ,-=.~.w=nn~~ - ws n.- =_

l l

npro ettt 1 8i < 4 li v

% DI ii RRt lWOMI't,N%1IDN pt. AN in juh 1% Numr bird a wmnd immt m thr l'ruit d Wtri 16nai the l utru t otters us tmphiwei a defrited tony nwu plan i rt aint Court ior the Ibtrwi nf Ne biola %n h ar tion was stand lwiding tla in nuorduur wnh iniernal Reu our (M N iton 457 All anu nots of outuinw of the app al of the pres n us lawsmi in ( h toher, pr4 the mtnpr nsation th irrird unit the plan all properts and t wht. pun haw d t h u m 1 (:oun gr anted Nm or le aw to filt a iwi oritt aint suled < oisvile'nt w nh su( h simiunte and all in oint attnbutal lr to sm h swiunts. w hu h irquesisplerim nt agams thr t hsn a t for alkged oven hare . tn propt ret or tights att (until nwir anulable to the empimec or odier an uvaist rnunni announ' for rw h of ihr ve ars 1987, I % IW9 and %

twntfuary) solelv the pri.prt3 und rights of dw thaten t (w ediout lieing tir bic drainages ni an undt te tinine d 4:noutit and attoriw)s' fr s tiis rt 4trh ved u the pnn iuotu ol twnrGis un4 : i lm plan), subjn t onh to the alb gni nolationi of ihr h deral Shrtinan A< t. damacts in a uto (laue: ,l the l horn t's genci al t tedit ors The Ibn u t has reu rded ihr detrinurwd amount and ariorimu' lers los ahred vb.latu.ns of the as,ets of in de frirt d t ompi nunon plan and the i ot roslundmg habihty Nebiaua Consunwt Protra to rs Ai t, and damages in an urule tennined elb t i >

i 6dm ntry try.onul they urule i the plan in tlw pnt. the plan amount and atunnrd rets for Wlrurd delinationsof Nmotir nytty wts hu horn u.ed for no purpet other than to pay brorfas Thr mhu and hberty mtrarsis allegediv setuird by the Ioutirer.ih Ihsiru t twlmws it a unis ch dmt li w di ua ihr amia to undy thr .1ums Amtndmrnt to llw l'mu d Stau s Constituuno l'he I hiiru i has fil-d a of e ntral trothrors m the fut ur. The plan is adinittisterett by t he nior mn io io r ikr smi to dniniss Nm or 's an ond arnended tornplarit, in lipatahlr 1.ife A34ur am r b iciy ofihr U ;iird htmt

• hole or in pan, h,wd on le L oljuttwhrtw*n, f ailure to state a a Lum, and ot hr plewhng ir rrgularitwa 'the Dou n t's answ+t to the anond

t. 1.1 l'IG Al IO N- ainctuted iomplamt, if any n requned, w di rmt !w bled untd aber ihr in August INii, Nm or Corpot atiot. ("Nuiot"h a laive industtial (.,ouri e tuhng on the motion N,uror,s a mnd anwnded t omplaint also t u.ionwr, ford a lawsuit tigmnsi tlw lbt rh I in abr Utdtro biairt Ibtru t named as addinonal de frrulants the eIrvrsi the n sen uig meinhe n and Court hir the thunct of Nebraska, trquesung judgnwnt for allegni thirr lonurr mrmhrrs of ilw lbitu t.i 16an d of I bret tois, atul alleged ovru harges in an uwleternmwd ammmt besn August I,1972, tojanuar, that om h deirralants, from 1974 to the prru nt, at trd to depri>r Nm or 1, Pmo, and of ilii nullmn iromJanuart WHO, through t b riole t pmt on us sulatantiu progny right under the t.,nned Statre and Nrbrada Numr allega d m its t umplamt that the raies c hari:rd tn the Ibinct w it (:enuitutume to ren ive a fair and trasonahir rlr4itu t ate, and of its unfair, unrraumable and dm riminatory as to Nm oi The lbsitit t's t omti tunonally pnnettnlIdwrty mittestt Nucor v+Ls damages against arower denird Nutor's atteganons and aserved sarious affirmainr sut h indtodual defendams in an undetermme d amount, tralu hng de fe nsen At trns), Nutor capamled the ongmal <1,sim of danagrs to purnthe damages and attornrys, fers, under inth fedre sl and state <iul im iude the yrars 1985 and NBh. In May 1987, ajury Inund that the eates nghts s,tatutes la rryrmw to motums filed on bi hal%f sm h m. dnidual t harge d Nm of we rr noi(4% te asonables and nondim vinninaini3dunng def endants, the Ibtr kt L.ourt inJuly 1991 rntrre d en order ihmoWng twh of the vran 1974 through 19H6 and it trturnrd a wrdat of damages thow pentu.ns of the sea ond amended complamt whu h e ought to imp,wr in the total amount of $7,442340 In May 1%7, the C'urt i meird a habihts agattat aus h defend,ints far thrit-legalatnr at is 'the Dninit

'ludgment in the total amauor of $ t.10'1,Mk70, hythrt with intere st ,

(,.ourt also damiard Numt s at tion aganat one funner dart tot hawd and tasable emis, aftrr deternuning that 'he apphcable statute of on the statuir of hmitatiens Nurm soluntanly damiswd its aitmn hnutanons barred any norwry of damages whiih ruurrrd pime to without prejudar ag.unst our foriner shirt toi, and it thd not kern the Auuust 14.1980 'lhe Ibtrui appealed the wnhct and pudgement to the -

th.ird funner direc tor wtm wa. named as a de frndant in the set oni Utaited StMrs Court nl Apprab for the Iaghth Gm mt Numr thereafier . .

amriated complamt. I.he rirven mdivalual de fetutama rrmaining in the fde d a t n e appal, t untendmg that judgement shuidd haw tern entried at tion air not requned to fde an annet tu dw sn und anwiuled mmplamt on the lull amoun' of thejury vrrdwt, togodwr with ptriudgnwnt interrst u n t).suc h time as the Ibtru t 4nswe n tn in danmwd from the lawsuit injunt DM, the Court of Apirals emanded the ruir to allow the ibtrwt Alm m J uly 19M, Nm or filed a lawsmt m the Ibn a a Court of Stan.oo Cotart m addtras the questiim of whether the trderal tnuits have subirt t County, Jdebrada, trquestmx judgement for alleged own.harges of at inauerjuns ta non ows thn at ton t u 1 kt riulwr 19%. the I hstra t Court imi $15.74 4N4 f rom August 1,1972, tu lb erntwr 3h 1987, and for an entered an unter fmihng that u had suhn t maner jur. eda t on, and it later undetenmned amount of damagra for ru ru paynwms after December wmfied sm b fin'hng to the Court of Appals in lbender 1989, a thrrr-

.th IW7. N.uor aim requests d.unages in an a'nount not tet asirrtamed

• nanel of the Coun of Appab filed an opmion that allirn cd the for ah,eged uolatmni of the Nebrada Comumer Protection Ait.1%. . s 5

ju - ne in aU ergrot D Wnct's yutun for rrhraring wa denwd, lanuu m wi4tr tourt unen the same rer vinxh as the twolawsuits nhd and the Dntntt thereafier fided a prnoon for writ of t rrtwiran in the in lederalmun by Noua agaimt the Distru t Ior its pm.aunary rrsr.nw huperme Court of the United Stairs, w his h was aho denied in ( h toher to the lanuit, the Dntrh t filed a motion to strikr, and to a quire Nun,r 1990, the Dutrkt filed a motion for partial s4usfamion of judgement in to inake more defimte and rotun, s urious alle ganons of N, u of's ytinon, the Distris t Coun. requesting ihr Court to dr(lare that the t hstru: is w hi< h monon remams Fndmg in fore tlw a run The state ourt entered entitled to a creda against the judgement in the ann unt of $1327,301 ,

an order (bat Ma)rd further nHK <*cdmgs in Nun ai tion tint d tbr entry of tre ause of a rate refund that was madr to Nmor durit.g 196L Su h Ihr final dn udun in the Court of Appe,ds .m the 6nt federallammt motion was deturd in July 1991 The lbtru t fiird a nmtion for trmmah 1ation af the ruhng, whwh remams Finhng laloit the !btrk t C on s t. On Ottoler 19.19 Ki, the Disn u t tnade pavment on the judement to Nuuu in de amount of $2NM45 70, plus $71UO7Il("r mierent the tron and tuable mis i

l I

M.s1 L

NPPD E L (.C 1 R I C 5Y5 TEM L

InvestigsttL.i nd discovery tondu-ted by the District before and frorn tirra to time, amnt sQuilitantly in 194, when the lhstrkt was during the Numt htigation indicated that rewnue cePetted from Numr authonmi to ucstruct, orraw and mainta.in Gerald Gentleman % ton from September 1, lW3, to Detember 31,1986, ev eeded the revenue partially utihnng lamis a d waters of Pusert Na 105.

requirements for the sc rvice prm-ided to Nuror during such period tw the in 1937, i EkC inurd a 50 year hiense to Central Nebraska Pubik som of $1,527,301 This owr milet tkm was adjusted to a decrease in the Iwer & Irrigation Dis :io (Centralh authorinng ihr mnstruction, cleonc rate apphcable to Nucor far service prmided during the period cirrathm and maintener of f ERC Pnsect No 1417, which induden from March 1,1987, through Dr. ember 3L 1987. Ahhough the raic was Kindy Dam, lake M tConaughs (impauwkd by Aingdey D,un), three to aed upward etiective whh service pm vided on and afterJar.uary 1, a.hhtional hydr wiettyc pm r p mts and an uniated dnersion dam, 19% Nuror has erfused to make full payment of bilhng utstements issued sul; ply canals and nlued facihties. In 1979, the li< ense for Pnsect Na pursuant to the revise.1 rue ot hedules, and it ir stead has bren remittmg 1417 t can amended w .authonic the a onstrue tion, operation and panial payments bawd upon the reduced demand t harge which was in main name of the Kingsley hydnelettnc generating pmject.

effect during the period from March 198i through Decernber 1987. The in anticipation /f the IW7 expiration dates hir their FEkC licenses, amount of pay ments w ithheld by Nutor for sen ite prtwided to it during the Dutrict and Ce neral cath Gled an apphcation for new hctnw with the penod from January 1988 throug'n December 31, 1991, tot als FI RP in 1984. ff.RC has anrpted the apph-ations for filmg Under the

$6,710,897, esdusin ofimerest, InJuly IWO, respmding to Numr's fir *t Fednal Power At TERC must, upon espiration of the uriginal h, erm, amended complaint fikd in the second federallawsuit, the District filed luue annual licenses pendmg detisions on the apphcanons for new an answer and counterdaim to getover damages from Nutor for brcarh Ikense.

of mmract and to entoin Nutor from withholdmg payment At the same it is anti < ir ated that the u ts of obtaining thew new h< enwa w di be time, the DW'rict filed a motion for a preknunary injunction in the reond irwurred in tt e Electric System Unde r currrnt law, i ERC is authorbed federallamuit to revluire Nuror to pay the unpaid pnncipal halantes and . to indude let ms and conditions in the new lk enses de*igned to protert, acnued interest on all hilhng statements for servke prmided ninre mitigate darmge to, and enhance ibh and wikibfe. The new h< enws may January 1988, to require Nucor to make full payment of all billing abo indude tenns and ronditions telating ta the cudange ed whooping

=wements rendered during die pendency of the action, and to authorize crane and in designated cntical habitat. as well as other listed threairned the District to dncontinue wrwe en Nucor for any failure to make or endan g ed wiktife speues, such as interior least terns, piping phners, required paymen,s. Such motion was denied in February U91. The and bald eagles, which imm time to time are found in the area of the Disui-t's too iterdaim for damages and permanent injur ctive rehef projnts or in arcas downstream from the pnsects. Thew inoen have

- remains pending. resulted in a number of staic and national environmental groups imenrning in the pnireedmg, indudmg, am;ng others, the National

7. CAPITAL ADDITIONS-'

Audubon Society, the Natkmal Wikihfe 1ederation, and the Platte Riwr g The Electric System construction plan indudes authorization for .

Whooping C.rane Cn. .ucal liabitat Maintenance 'I, rust. Th- District is estimated expenditures of $631 million for 1992. These expendhures will unable to predict auth wats or the nature of the terms or condakms that be funded from revenues, IW2 bond prorceds and other available fundt wiil be comamed in a new Ik ense for Project No 1835 or Project Na 1417.

8. FERC llYDROEl.ECTRIC PROJECT!JCENSES. Ilowever, such terms and conditions could indude requirements In 1943, ITIC issued a isnac for the District's hwinr' 'ric Pnsect concerning water flows or releases or mo(hfications to the works or No.1835 for a pened enchngJune 30,1487 Thelicense a thorized the uprathms of the projects whkh, m turn, muki materially adwrsely affect operation and. maintenance of Pmject Na 1835, which indud s d e oceranons of Project No 1835 which mdudes the reservoir and canal Sutherland Reservoir, take Maloney, cert un canals and ad,aano lands, wh h s - the cooling water sourt e for the Geraki Gendemart Station, and Ibc North Pf arre. generat%g statina r.oneisCng of two hydmelettnc oNint N.1417, whkh indudes the Kingsley Project. If FERC issued generating units with a combined ina-dtnau power capadAry of 26 kg a icw license for either project contaming a irrm or condition opywed and related facrities. Sid North Piarti generating atation and related tn : c Dist ct, the Dutrict van 11 haw the right tajuAial review of that

'ad!itin are part <ithe Electric Symm. FERC has amended thelicense term or condition.

b sf Ie y - O Q/ F rc -s p p p t y t, Y Tr M Report ofIndependent Accountants Tb the Board of Directors Nebraska Public her District:

We haw audited the accompanying special purpose stateme". ets and liabilities of the Pmer Supply Syecm of Nebraska Public ther District (a public co poration v , p - . subdivision of tbc State of Nebraska) am of December 31,1991 and 1990, and the related socci4mrpose e as of revenues and costs for each of the three years in the ped .d ended December 31,1991. "' hen + sandal statements a.e the responsibility of the District's management. Our responsibidty is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with generally accepted auditing stanr' Js. Those standctrds require that we plan and perform the audit to obtain reasoable assurance about whether the unancial statements are free of material misstatement. An audit includes examining, on a test basis, evidence suppornog the amounts ar.d disclosures in the financial statements. An audit also includes assessing the accourting principles used and significam estimates

made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinicm.

The accompanymg sysl purpue financial statements referred to above have been prepared for the purpose of complying with, and on the basis of accounting requhements specified in the Power Supply System Revenue Bond Resolution adopted by the District u. September 29,19;2, as supplemented, as described in Note IP, and are not intended to be a presentation in conformity with generally accepted accounting principles.

In our opinion, the accompanying special-purpose financial statements of the Power Supply System of Nebraska Public Power District present fairly, in all material respects, the assets and liabilities as of December 31,1991

' and 1990, and its revenues and costs for each of the thren years in the period ended December 31,1991, c the basis of accounting described in Note in.

Loopers & l.ybrand

- O naha, Nebraska

+ March 3,1992.

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,, N P P _ D P O 'W f R . ' S U P -P L Y - 5 Y. 5 T E M Secet..ents of Asacts and Liabilitics INcember 31,'1991 and 1990

' Prepared Pursuant to Requirements of the l'uwer Supply Sptem Rewnue lle-4 Resolution 1991 1990-

-(busands)

AS5ETS ,

Utility Plant, at Cost (Note 1) $ 719,597 $ 711,279 g Less '

k - Reserve for depreciation (Note 1) _ 120,290 105,636 Amounts funded from revenue (Note 1) 13,754 13,753

$585,553 > $591,890 Prepaid Capital Costs (Note 3) $ 67,063 $ 67,830

'7

' Cash and Ine:stments (Note 1):

' Debt reserve account : $ 58,5'14 $ 58.553 Reserve and contingency fund _ 6,497 P,540 Additions and improvements account ' 5,656 6,015 Cc.nstruction funds . 38,436 36,495

. Reenue fund ; 930 1,318 Operating fund _ . _ 25,032 28,957

-. General reserw fund " 39,321 47,157-

$ 171,466 - - $ 187,035

- Accounts Receimble - $ 118 $ 80

Interest Receivable - $ ' 2,684 $ 3,453 Fuel Inwntory, at average cost . $ 15,275 5'11,576 Deferred Charges and Other Assets (Note 1) $ 40,462 $ 41,175 -

$ 885,621 5 903,039 L I A B I L I T 1 Il S -

Revenue llonds (Note 4h .

. Serial Bonds-

. 5.50%-6.80%, due 1991 to 1995 $ 76,060 $ 92,545 '

5.70k7.20%, due 1996 to 2000 75,240 - 75,240.

6.,00% due 2001 to 2005 5,405 - 5,405 Term Bonds, with annual si.nking fund require;nents-

5.8f,% due 1998 to 2012 168,930 108,930 l 6.125%, due 1999 to 2016 -- 239,635 _ 239,635 6.75%, due 1999 to 2001 - - 23,025 23,025 6.90% due 2002 to 2008 - 75,345 75,345-

7.10%, due 2009 -:o 2016 129,005 129,005-17M75% due 2001 to 2006 - 11,595 - 11,595 1 _ 7.50% due 2007 to 2019 50,320 50,320 -

3'

$ 854,560 $ 871,045 -

Advance from Electric Syster- $ 6,100 $ 6,100 Accounts Payable and Other Accrued Liabilities $ 10,401 $ 13,173 l Operating Reserves (Note 1) $ 14,560 $ 12,721

., 3 885,621 $ 903,039

- The aaompan_ ring notes to Snancidstar emats are an integrdpart of these statawnes.

fiil w

NppD. POW [ P t, y0p v sv ST [ f/

. Statements of Revenues and Cats for each of the Three Years in the Period Ended Decrmber 31,199L Prepared Pursuant to Requirenwnts of the hwer Supply 1991 1990 N89 dystem Revenue Bond Resolation (Thousands)

Revenues (Notes 1 and 2):

Sales to the Electric System $ 143,755 $ 139,781 $ 142,513 11,761 13,886 13,623 Investment and other income

'Ibtal nevenues ' $ 155,519 b 153,667 -

$ 156,136

=~__ =n--

n=

Costs (Note 1):

Operating exIrnses-Production-

$ 51,914 $ 53,739 $ 53,299 Fuel (Note 6) 23,806 21,970 20,231 Operation and maintenance (Note 3)

Provisions for operating reserves (Note 1) 7,938 6,096 5,740 General and administrative

$ 83,658 $ 81,805 $ 84,270 Debt service-16,485 15,605 14,790 Principal (Note 1)

Interest 55,376 56,257 57,076 _

Total costs .

$ 155,519 $ 153,667 $ 156,136 "iw aawtanving aws kjinaud skawus an as untegralpart of thee statemeus.

Notes to financial Statements 1 SUhth1ARY OF SIGNIFICANT ACCOUNTING POLIC? a (i) Amortization of the debt principal is mch.ded as a cut in the accompanying Statements of Revenues and Costs as "Drbt A. Orgumauun- service-Principal.,,

The Dis rict has three sepatate divinons for accounting purpmes Depreciation is not recorded as a cost, llad the District provided ~

as followy straight line depreciation swer a 40-year life rather than induding Ele aic Systern . .

amortization of debt pnnapal over the same period, rosts would have ,

Ibwer S.upply Systern increased $19 million in 1991, $23 million in 1990, and $3.6 mtPm Nudear Facility in 1989. Acetmmlated depreciation through Decemler 31,1991, wouki have increased wsts approximately $t>8.1 milhon. The reserve for As required by Bond Resolutions, separate records are maintained for carh division. The hmer $upply Syuem fauncial statements exdude the depreciation shown on the Statements of Assets and Liabilities was provided by recording amounts equal to repayment of debt.

Electnc System and Nudear Facility, for which financial statements are U P(m retirement of prnperty subject to depreciation, the inst nf presented separateiy herein. The Power Supply System limincial statements should be read in conjunction with such nther hnandal property is remt rd from plant accounts and charged to the resene Ior depreciation, along with the removal costs, net of salvage.

statements. ,

(ii) Billings to provide capital for renewals and replacements of B. Baru of Amusring-a Revenues a. e recognized and billed at an amount equal to costs as propeny and capital additions are induded in the accompanymg statements as " Operating Resents" and " Pnwisions for operating de6ned by the her Supply System Revenue Bond Resolution (Ibwer rewrves." Under rnually accepted accounting principles, capital Supply Remlution) which include operating expemes (exdading .

additions and provisions for renewals and replacements are not depreciation), and debt servic.c on the revenue bonds, less investment

. income. Revenues are totuputed and billed so that no equity is exPews but (exdusive of minor items of property) are charged to utihty plant. Renewals arid replacements of property and capital accumulated in the Power Supply System.

addnions funded from rrvenues are fully reserved. Renewais and Revenues and costs as defined fh the Pawer Supply Resolunon differ in the following respects from generally accepted accounting principles; replacements and capital addninns are currently being funded fmm existing bond prtweeds that base been transferred to the General Rewrve Fund.

I

l ITS m

l.

1 4 ppd P O V, f C S r_> '

i s i i U (iii)lntewst income on < nnstruction fund musiments is credned 3 PRLPAIDCAPflALCoslR io utility plant. Under genetally a cepted aaounting pritu iples, such Prepmd capital tosts are asme lated with the punhase of the capaitv im ome would have increard rnen ues SL6 milhon in 1991, $2.9 mib of a 50 MW bydroelecinc generating fadbty ows -d and opeated by %e lien in 19W and 32 7 milhon in 1989 Central Nebruka Pubhc 1%er and I rigat;on Ihstrin (Cr ntral) The prepaynwnt is twing .unortierd mer the Lfe of the lends, the pnweeds of C, % h -

which were use.d to pay thne costs The monization is indudt d as pait Internt expenae, ten interest earned on investment wcurities, all dhmWm financing costs arvi all other ctats related to mustruction projects are The District has an agreement wherebv Central makes available all capitahred.

orthe pnduc tion or the fmilny and the Datrici pays a11 ctuits of operatmg i D. CaA andiseswe- and maintaining the facihty 1 4us a charge bawd on the amount of energy

. Funds consist of $1683 mdlion ofinwstment setunties and 16 0 rnil. dehwred to the District Costs of 51.0 milhon in1991,10.7 milhon in 1980, I lion of t' ash dep&uts at De<cmber 3L 1991, und $156 6 million of and $03 milhon in 19d9, are induded in "Pn duction-Operation and

~-

inwstment weurities and $30 4 milhon of cash depmits at Decetnter 31, maintenant e "

IWO. Owrnight deposus of $28.9 million, induded in the balance of L DEFEASANCE Of DEBT inwatment securities in 1W0, have been redassified as tash des mits to in 1986, the Distritt issued power Supply Systern Rewnue bonds, conlorm with the 1991 presentation. The carrying value of inwarmen:

1986 W m ah. hd the outstanding hwr Supply System securities approximates market.

Rewnue Botels,1985 Series. The 1985 Bonds were defcased by plu ing Cash deposits, primarily interest bearing. at thember 31,1991, and '

the pnweeds of the 1986 Bonds in an irrevm able %st auount with an tNoughout much of the yrar, were cm-cred by federal depository e- t m prmia for all future debt servit e payments on the old insurance or uriregistered U.S. Gwemment and municipJ secunties hdd '

bonds Accordmgly, the inut an uunt anets and the liabiiity for the by various depositones. Investments at Derrmber 31, 1991, were in Mret bonds are not induded in the Diurict's fmanci-d statements. At unregistered U.S. Gnernment securities and federal Agency obhptions December 31, 1991, the remainmg principal amount of su(h defcased held in the District's name by the cuumhd banks.

bonds was $673 million.

The Debt Reserw Account in the Debt Service Fund and the Rewnr Aununt in the Rescrw and C mtingency Fund are ulued senu annually 5. CAPITAL ADDITIONS.

atj anuary 1 andJuly I at the lower of cost or market in accurhe with The hwr Supply System construrtion plan intmdes authorization requirements of the 1%cr Supply Resolution. Gains or losses on for ntimated expenthtures ofl10.3 mdhon for 1991 Thenc expr nthtures valuations are induded in inwitment income. The securities in the will be funded from existing Imnd proiceds that haw len transferred to remaining funds are salued at the lowet et cost or principal arr.nunt in the General Reserve Fund.

accordance with requirements of the 1%er Supply Resolution,

6. COAL SUPPLY ANDTRANSPORTATION AGkEEMENTS F. Ikhi Owga- The District has in existence a wal supply acrement which perndts Coats arising from the termination of incomplete generation and the District to purt base coal for an initial term ending 1kember 31,19%

transminion projects are tring amortized over the ble of the Innds, 'ic The agreement provides fur the District to punhw a minimum of proceeds of whien were uwd in part to pay these natt his amortization 2,700,000 mns per year through 1996, and all requirements up to a is induded as part of debt service c.ost. maxunum of 3,tM000 tons per war through the calendar year 1992, and all requirements up to a maximum of 3,800,000 tons per year during the

2. RATE COVEN'OT' odendar years 1993 thn,ug'i 19% The Dutrict also has in existence an The Distnct is required under the hwr Supply Resolunon to charge a reement which pnwide, for, among other 'hing transportation of toal rates for electric power and energy from the 1%er Supply System so that to Gerald Gentleman Station until Det ember 3h 19%, at apentied taritT revenues wul be at least sufficient to pay operating evenws, aggregate rates which are to be escalated or de-esc /ated punuant to an hidex debt service on the Iber Supply System Revenue Bonds, amounts to * '

promulgated by the Interstaic Commerce Comruinion.

. paid into the Debt Rewne Accoum and Reserve and Conting-ncy Fund, and ab other charges or hens payable out of revenues of the 1%er Supply -

Smem. He debt scrwe payments of the hwes Supply Sptem Rewnue Bonds are $71.9 million per year through 199ts and principal payments, as a mraconent of debt service payments, are $17.4 million. $18 5 milhon,

$493 million, $20 7 milhon, and $21.9 million for eat h of the yean 1992 through 1996 respectively.

fy .g. .

1 4 .

i "NlP P D": N Ut L E A R' F A C l . t" I T_Y m

Report ofInde;cndent Abcountants l i .

, -To the Board of Directors -

Nebraska Public Power District: j

/

1 We have audited the accompanying special-purpose statements of assets and liabilities of the Nuclear Facility )

-'of Nebraska Public Power District (a public corporation and political wbdivision'of the State of Nebraska) as of

= December 31,1991 and 1990, and the related special-purpose statements of revenues and costs for each of the three

years in the period ended December 31,1991. These financial statements are the responsibility of the District's L management. Our responsibility is to express an opinion on these financial statements based on our audits.

,(

~ We conducted our audits in accordance with generally accept-d auditing standards. Those standards require

that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of

= material misstatement.' An audit includes examining, on a test basis, evidence supporting the amounts ar d disclosures 3 = in the financial statemer.'.s. An audit also includes assessing the accounting principles used and significant estimates -

.made by management, as well as evaluating the cnerall financial statement presentasion; We believe that our audits

, provide a reasonable basis for our opinion -.

The accompanying special-purpose financial statements referred to alxwe have been prepared for the puipose

'of complying with, and on the basis of accounting requirements specified in the Nuclear Facility Revenue Bond kesolution adopted by the District on August 22,19;i3, as supplemented, as described in Note IB, and are not

intended to be a presentation in conformiry_with generally accepted accounting principles.

> In our opinion, the accompanying special-purpose financial statements of the Nuclear Facility of Nebraska

Public lbwer Dhtrict present fairly, in all material respects, the askts an_d liabilitie. ag f December 31,1991 and 1990,

' and its resenues and costs for each of the three years in the period ended December 31,1991, on the basis of accounting described in Note 1BJ s

Coopers & Lybrand

' Omaha, Nebraska?

" . March 3;1992.'

'.4 P

I

b '

NPPD NUs ! EAR !AC !t!Iv Statements of Aswts and liabdities thernber 31,1991 and 1990 Prepared 1%nsuant to Rnjuirernents of the Nudcar Facilny Revenur Bond Resolation _ _ 1991 1990 (Thousands)

)~ .s s s i; 'l s Utility Plant, at Cost $ 651,231 $ 623,366 less-Reserve for depreciation (Note 1) 181,632 165,595 Amounts funded from revenue (Note 1) 245,392 222,637

$ 224,207 $ 235,134 huc ar Fuel-Nc' of Amortization (Note Il $ 79,755 $ 76,293 Cash and Investments (Note 1):

Debt reserve account $ 28,342 $ 28,238 Reserve and contingency fund 12,751 7,548 Additions and improvements account 11,414 13,762 General reserve fund -

10,527 Construction fund 8,240 10,804 Fuel itserve accout.t 45,146 39,306 Operating fund 10,180 7,039 Revenue fund 1,263 1,501

, Decommissioning fund (Note 4) _ 9,278 12,427

$ 126,614 $ 130,152 Accounts Receivable $ 25,682 $ ?'l,897 e

3 interest Receivable $ 1,610 $ 1,934

Deferred Charges and Other Assets $ 1,403 $ 488 External Decom,missioning Fund (Note 41 $ 14,366 $ 7,385

$ 473,637 $ 485,283 L i .\ h I i - ! Y I l' 5 Revenue Bonds:

Serial Bonds-6.00%-8.80%, due 1991 to 1995 $ 15,375 $ 24,020 7.375%-9.20%, due 1996 to 2003 26,600 26,600 Term Bonds, with annual sinking fund requirements-5.10%, due 1991 to 2002 - 124,070 132,335 6.30%, due 1993 to 2003 68,430 68,430 6.60% due 1992 :o 2003 67,200 67,200

$ 301,675 $ 318,585 .

O yrating Reserves (Note 1) _ _

$ 142,943 $ 139,024 Accounts Payable and Other Accrued Li .Sities (Nott 1) _

$ 14,653 $ 20,289 External Decommissioning Fund (Note ,4L $ 14,366 $ 7,385

$ 473,637 $ 485,283

, _ . _ _ _m_.

ne sumpanymg nana>uiat statenenu are an integ,atpart ofihne aairmenu.

5

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t- v I t N P P D 5 O C tl Al p A C l l t i Y Starcmenti of Rewnues and Gett4 for each of the Three Wars in the PeriW Ended i December 31;1091. Prepared l>ursuant to Requirements of the Nutlear

( f adiity Revenue Ilond Resolution 1991 1990 - 1989 (Thousands)

, Revenues (Notes 1 and 2)( '

• 1. ~ Sales- - ~

' Electric Systent $ 76,826 - $ 77,422 $ 70,322 -

lowa her, Inc. 76,822 77,404 70,351

investment and other income . 20,041 20,401 11,911 ' ,

- Total revenuco .

$ 173,689 $ 175,227 $ 152,584 Costs (Note 1)r b POperating expenses . .

i Production- =

- Fuel : $ 26,318 $ 29,069 $ 28,151

Operation and maintenance - ' 65,470 64,244 52,619 l Provisions for operating reserves . ;33,209 35,607-  : 27,371

General r.nd administrative 12,416- 10,044 8,199

$ 137,413 $ 138,964 $ 116,340 m ,

IMt servicer *

Priniipal(Note 1) - ; 16,910 15,980 15,100 3 Intarcst

19,366' 20,283 21,144 i lbtal costs ..

$ 173,689 $ 175,227 $ '152,584 m-1 g -

_,X ne aamfarjing notojiumid iwrmrut m as iegsdyet of thu memns.

yt

^

-+

+ .

m; ' Not'en to Financial' Statemenn ~

' 1, SUM hl ARY OF SIGNIFICANT ACCOUNTING POLICIES: - amortization ddebt principal over the same prriod, costs would have --

decreased $3A million in 1991, $2.7 million in 1990, and VI.6 million A . The D"'~e in 1989. Accumulated depreciation through December 31,1991, wv .dd District has three separate divisions for accounting purposes have increased costs approximately $18.2 million. The reserve for -

"8 N"**7 -: depreciation shows on the Statements of Assets and Liabilities was -

. Electric Synem . prmided by resoruing amounts equal tc repayment of debt. Upon .

b"PP IYS Y"#'" trtirement of property subject to denreciation, the coct of; roperty is

-Nudear Farjlity - - removed from plant accounts _a, I. charged to the reserve for

( As required by Bond Resoludonsl separate records are maintained for - deprcciation, along with the ' removal cmta, net of salvage. . .

3 each division /The &clu Facility financial staicments exclude the . (iQ Oillings to provide capital for renewals and replacements of .

Electric Sptem and Ihwer Supply Systent. for which financial statements ..

prope-ty, capital additions, and nudear fuel are induded in ths

( are presented separately herein The Nudear Faci!iry fmancial stancments . .acmmpanying statements as " Operating Reserves",.nd " Provisions should be read in conjunction With such ather financial statements _ . for operating reserves?. Under generally accepted accounting

' principles, capital additions and provisions for renewals and

' ' B.1*uis e/Armting- - rep.acements are nm expeuses but (exdusive of minor items of

' Revenues are recognized and billed at an amount equal to canis a' property) are charged to utility olant. Provisions for wor.k ing cap-'-

.. defined by the Nudcar Facility Revenue Bond Resolution (Nudear ital for nudear fuel are not expenses under generally accepted ac; Resolut:oty which indude operating expemes (exdud ng depreciation), . ceuming principles until the fuel is used. Renewals and replace-l and deti service on the revenue bonds,less investment income. Revenues ments of property and capital additions funded from revenues are

are computed and hided so that no equity is accumulated in ihe Nudcar fully feserved.

I'# Cili'N . .

(iii) Iruerest income on construction fund investments is credited Jt t . f Revi nues and costs as defined by the & dear Resolution differ in the - to utility plant. Under generally accepted accouming principles. such -

folkmisg respecis from generally accepted accmmting principles: income would base increased reventa s 5.6 millum in 1991, $.7 million in 1990, and $.6 million in 1989.

(i) Amortization of the debt principalis included as a cost in the (iv) As part of a 1989 settlement agreement with General Electric 1 accompanying 5tatements of Rrwnues and Costs as "Gehmrvice-Company (GE), the D.atrict will receive discounts on future purchaw Principal,,

' of certsn equipment and services for Ceoper Nudear Station and wil!

F'  : Depredation is not recorded as a cost Had the District provided receive credus and discounts under an amendment to the fuel

.- sardght-line deprer.iation rmr a 30-year life radier than induding

it . .

,- TP.

NPPD Um '

t. fe faC! i i fabrication contrac t. The lhstrict arnortized mer a two > ear irriod 3 POWER SA1.1.s CONTRACM

-noing in 1991, the entire amount of the benefits allocaird to Undct terms of a power saleu ontt m t with lowa Power, Inc. (lowa operations. Under generally actepted accounting principles, such Ponr), the thstric t makes asailable one-half of the produnion of the benefits would le rerognized when meiwd whic h in the case of the Cooper Nudear Stanon m lowa Power with the balam e auilable to the settleinent would be mer the next 18 yeart This differe nce results ir Distnct's Elecinc System lowa Ibwer and the District's Llectric Synvm an increase in rewnues durini; the two->rar amortinoion perbi and each pay a proportionaic share of die nutlear fuel tosta (bawd on ener gy increased cnsts thereafter. The agreement soptdates that the dollar actually dehvered) plus one half of all other cmts of the faohty value of the settlement shouhl not be dm bmed The District has also agreed in make availabic, through its Electric System.12.5% of the output of the Cooper Nudcar Siation to the City C %darr Iwl-of la.ncoln, Nebrada.

> Nudcar fuel in the reactor is being amortized on the tusis of ener gy produced as a percentage of tot.d energy expnied to le pnxtuicd. 4. PLANT DLCONlhll5SIONING COS fS.

The Dwrict has entered into contrac ts for sarious nudcar fuel Punuant to regulations promulgated by the Nudcar Regulatory -

components for fuel kiadmgs as follows: Commission (NRC), the District establi# d inJt ly lWO, an externa!

trust fund segregated from the Dutrict's aswts in which amounts i,rar ,thr ough arrumulated to pay the decommissioning costs aie to be depmited The Nudcar Fuel Which Requiremena NRC prescribrd minimum amount tol e arcumularul b3 he Datnct m Com;xment Supphen Are Provided .

said fund for deconunisuoning ruts, in 19fl6 uolla t is e rmimately Uranium Concentrates % nous 1994 (estimated) 11213 milhon. This amount d.es not imlude the nut nf remo,al and Conwrsion Allied - Signal 149 ) dispel or spent fuelor of nonraduuct:ye structures and materials trynnd Enrichment U S. Dept of that nectuary to tenninate the Disinct's t peratmg license. For purpow Energy 2014 of auumJatmg arnoums for complete dismantlement and site restorauon Fabrication General E s tric Co. 2010 of Coo wr Nudear Station, the Diurict is estimating the total decom-Fen for disiual of fwlin the reactor a tring piovided a part at the

• ""W M an, to appnf maidy W rnWon.

fuel rost anti courc:ed through revenues of the Nudear Facitoy. It is ex pected that the costs of detonunisening willle funded from rewnues, certain re enelunds estabbshed under the Nudcar Remluuon, D. Cc4 awllvermh- and surplus funda deriwd fmen the wnershir and operation of the Funds e onsist of $123.7 mdhon of inwstment securities and $2.9 ma- Nm Icar Facihty The Distnct ar'idpates suftkient funds wdl be anilable lion of cash deponts at December 31,1991, and $122.9 million of in accordance with the NRC decommiu;oning rules to decomnussion investment securities and $7.3 million of cash deposits at Decemler 31, Cager Nuclear Stauon at the end of its usefid life. The Dainct will 19% Overnight depmits of $13 mi.llion, induded in the balanc- of continue to review the costs ard methmis of fundmg a a result of investment securities in 1990, haw been rec assified as cash demmits to thanging cond tions and requirements for desomminioning.

conform with the 1991 presentation. The carrying salue ofinwstment

5. CAPIl'AL ADDITION 5; setunties appruximates market.

• Cash deposita, pnmarily interest hearing, at December 31,199L and The Nudcar Facihty construction plan includes authorizanon for througiout much of the year, were t owred by federal depository m mated expenhunwW rnEon for ME Biocextrnduun T insuram e or umegistered US Gmtrnment and municipal securines held be bdled to participants as " Provisions for operatmg reserws" on the by various depositories. Investmems at December 31, 1991, were in basis of estimated rash ilow requirements.

unregistered UX Gowrnment securitics and Iederal Agency obligations 6. CONTING ENCIES:

held in the District's name by the rustmhat banks.

Under aht prmisions of the Federal Price-Anderson Ac, the District he Debt Reserve Anuunt in the Debt Seruce Fund and the Reserve and all other hcensed nudear pmer plant operators could exh be Acrount in the Resene and Contmyncy Fund are valued emi-annually assened for daims in amounts up to $66.2 milhon per unit owned in the atJanuary 1 andJuly I at the 1%er of cost or market in accordemce with rwnt of any nudear mcident imulving any hcensed fanlity in the nation.

requirements of the Nudcar Fesolution. Gains or tours on valuations are with a mammum of $10 0 million per year per incident per unit owned-induded in inwstment income. The securities in the remaining funds ne town ther would he liable to the District for one-half of such awnment E valued at the lower of rmt or principal amount in acrordance with

_ under the Ibwer Sales Contran To satisfy the obiganon, the Dinnct has requirements oithe Nudcar Resolution.

obtained a $i0 million hne of credit and towa Power has demonstrated

2. RATE COVENANT Hnanual Wny and mponMay be M mWon.

The thstrict is require! under the Nuclear Resolution to(narge rates ^* F ""W" "

for electric power and energy from the Nudcar Facility so that rewnues mpany @ and the Ndct, General Electric ha~ agreed to store at will be at least sutlkient to pay operating expen es, awregate debt service O N "' "ois the 1,056 spent nudear fuel auemblin from on the Nudear Fxiliry Rewnue Nnds amounts to Ir paid into the Debt the Ent twmore Ndums at no mi to the District until Mav 2002, whith Reserve Accou n and Reserve and Contingency Fund, and all other h 0" "N" "" * * ' * " ' '"'* b' O' C E I" #'" 'h"' M charges or liens payable out of rewnues of the Nuc! car Facihty. The debt m n ge w be au no mt to the Dntna e long as M can maimain servia e payments of the Nudcar b.ility Rewnue Nmis are 5 h3 inilhon out cemm a mu e hcenw for 6e facuuy. U per year through 1996 and pnn ipal payments as a component of dcht ahn ay , storap of the 1,0% bundles n sults in cenain addinonal service payments, are $17.9 milhun, $18.9 nullion.1201 million, $21.3 mts to GE then the Dntrict shall he respimsible for such cmtt 5m-h million, and $22.6 million for carh of the years 1992 through en would be collect zd through rewnues of the Nu< lear F.u ihty as part 1996 rnpettiwly. oHud mn

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