ML20100K963

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Forwards 1984 Internal Cash Flow Projection for Review,Per 10CFR140.21.Statement Prepared in Accordance W/Reg Guide 9.4 & Secondary Financial Protection Guidelines in Price-Anderson Act
ML20100K963
Person / Time
Site: Fermi DTE Energy icon.png
Issue date: 12/04/1984
From: Jens W
DETROIT EDISON CO.
To: Saltzman J
NRC OFFICE OF STATE PROGRAMS (OSP)
References
EF2-72026, NUDOCS 8412110362
Download: ML20100K963 (4)


Text

r- - - .

' Wayne H. Jens

' Wce Prtsident a Nuclear Operations FermF2 f-

, 6400 North Owe Hshesy lOMM Newport MK:hgan 48166 IQUI I sta se64tso December 4, 1984 EF2-72026 Mr. Jerome Saltzman, Assistant Director State and Licensee-Relations Office of State Programs U. S. Nuclear Regulatory Commission Washington, D.C. 20555

Dear Mr. Saltzman:

Reference:

Fermi 2 NRC Docket No. 50-341

Subject:

Price-Anderson Act Guarantee of Retrospective Premiums Enclosed for your review is a copy of Detroit Edison's cash flow statement to meet the requirements of 10 CFR 140.21. The statement was prepared in accordance with Regulatory Guide 9.4 and outlines the Company's financial obligation, as detailed under the Secondary Financial Protection of the Price-Anderson Act.

We will await the results of your review and should you have any questions, please contact Mr. Keener Earle at (313) 586-4211.

Sincerely,

.A cc: Mr. P. M. Byron Mr. M. D. Lynch 8412110362 841204 "7 I

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PDR ADOCK 05000341 1 I PDR >

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'Mr. Jerome Saltzman

' December 4_,'1984 EF2-72026 Page.2 bec: Approval Control F. E. Agosti L. P. Bregni W. F. Colbert-J..P. Cooper 0.-K. Earle R. W. Gresens W. R. Holland W. H. Jens J. W. Johnson, Jr.

R. S. Lenart-L. L. Loomans P. A. Marquardt T. D. Phillips M. S. Rager L. J. Simpkin G.;M..Trahey R. A. Vance ,

NRR Chron File Secretary's Office (2412 WCB)

O. K. Earle (Bethesda Office)

e CERTIFICATE

.I, Ronald W. Gresens, Controller and Chief Accounting Officer of The Detroit Edison Company (" Company"), do hereby certify that the 1983 Actual financial data shown on the Company's 1984 Internal Cash Flow Projection is derived from the Company's consolidated financial statements for the year ended December 31, 1983 and that the 1984 Projection is the latest projection of the Company for the year ended December 31, 1984. The financial data is that of the Company only and does not include that of Wolverine Power Supply Cooperative, Inc. (" Cooperative"), a joint owner of Fermi-2.

Under the ownership agreement, for Fermi-2, the percentage owner-ship interests of the Company and the Cooperative in Fermi-2 will change over time with the Company's interest increasing and the Cooperative's interest decreasing. The current ownership interests for the Company and the Cooperative are 80% and 20%, respectively.

Dated: November 28, 1984 **

  • 4 Ronald W. Gresens, Controller The Detroit Edison Company i

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THE DETROIT EDISON COMPdNY- ,

1984 Internal Cash F1'ow Projection For Fermi-2 Nuclear Power Station i (Thousands of Dollars) 1983 1984 Actual Projection Net. Income After Taxes $ 364,622 $ 397,864 Less: Dividends (306,073) (332,328)

Retained Earnings $ 58,549 $ 65,536 5

Adjustments:

Depreciation $ 171,940 $ 190,640 Amortisation of Property Losses 10,449 ' 12,231

- Deferred Income Taxes'and r Iniestment Tax credits 135,603 130,971 Allowance for Funds Used During Construction (287,152) (293,819)

Total Adjustments $ 30,840 $ 40,023 Internal Cash Flow $ 89,389 $ 105,559 Average Quarterly Cash Flow $ 22,347 $ 26,390 Percentage Ownership 4 in All Operating Nuclear Units 0 (a) i Maximum Total

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Contingent Liability 0 (a) 4 (a) Fermi-2 is -Detroit Edison's only nuclear unit and as of November 28, 1984 is not operating. The estimated earliest commercial operation date for Fermi-2 is June 1985.

11-28-84

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