ML20117F450
| ML20117F450 | |
| Person / Time | |
|---|---|
| Site: | Farley  |
| Issue date: | 04/26/1996 |
| From: | Derieux J ALABAMA POWER CO. |
| To: | Saltzman J NRC (Affiliation Not Assigned) |
| Shared Package | |
| ML20117F424 | List: |
| References | |
| NUDOCS 9605170423 | |
| Download: ML20117F450 (4) | |
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Alabama Powar Company 600 North 18th Street
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Post Office Box 2641 Dirmingham, Alabama 35291-0042 Telephone: 205 250-2454 J. Randy DeRieux Assistant Treasurer and AlabamaPower General Manager-Corporato Fenance and Planning the southern electnc system l
April 26, 1995 Mr. Jerome Saltzman Chief, Antitrust and Indemnity Group Nuclear Reactor Regulation Nuclear Regulatory Commission Washington, D.C.
20555
Dear Mr. Saltzman:
Enclosed is the annual submission of Alabama Power Company with respect to the retrospective premium guarantee required under the Price-Anderson Act, as amended, applicable to its Joseph M.
Farley Nuclear Plant. We have elected to satisfy this guarantee requirement by submitting annual certified financial statements and cash projections, showing that a cash flow can be generated and would be available for payment of retrospective premiums up to $20,000,000 within three months after submission of the statement.
In this connection, enclosed are the following:
1.
1995 Annual Report which includes financial statements for the calendar year 1995, together with the report on such statements by Arthur Andersen & Co.,
independent public accountants; 2.
Unaudited Financial Statements for the quarter ended March 31, 1996; 3.
Cash Flow Projections for the period January 1, 1996 through December 31, 1996, showing that cash flow of $20,000,000 can be generated and would be available for payment of retrospective premiums within three months after submission of the statement.
Please acknowledge receipt of the enclosures by signing and returning the enclosed copy of this letter.
Very truly yours, d'M J. Randy DeRieux JRD:lw Enclosures 9605170423 950426 PDR ADOCK 05000348 I
I I
ALABAMA POWER COMPANY Internal Cash Flow for Joseph M. Farley Nuclear Power Station
{
l (Thousands of Dollars) l l
1995 1996 Actual Projections Net Income
$ 387,963 395,542 Less Dividends Paid 312,069 328,750 Retained Earnings 75,894 66,792 Adjustments:
j Depreciation and Amortization 371,382 405,684 Deferred income Taxes and Investment Tax Credits 32,627 23,550 Allowance for Equity Used During
)
Construction (1,649)
(1,366)
Total Adjustments 402,360 427,868 Internal Cash Flow
$ 478,254 494,660_
Average Quarterly Cash Flow
$ 119,564 12_3 6_6.5_
1 Percentage Ownership in all Operating Nuclear Units:
Joseph M. Farley Units 1 and 2 100 %
Maximum Total Contingent Liability
$20,000 M:\\NFCAsHFL.WK4
I I
ALABAMA POWER COMPANY l
STATEMENT Of INCOME (Stated in Thousands of Dollars) 1 3 MONTIIS ENDED MARCli 31, 1996 OPERATING REVENUES:
j Revenues
$ 732,809 OPERATING EXPENSES:
l Operation--
fuel 205,394 Purchased and interchange power, Net 24,813 Other 123,231 Maintenance 62,935 Depreciation and Amortization 79,898 Taxes other than income taxes 50,064 federal and state income taxes 44,422 Total operating expenses 590,757 OPERATING INCOME 142,052 OTIIER INCOME (EXPENSE):
Allowance for equity funds used during construction 401 Income from subsidiary 1,101 Other, net 1,550 INCOME BEFORE INTEREST CilARGES 145,104 INTEREST CIIARGES:
Interest on long-term debt 43,927 Allowance for debt funds used during construction (1,876)
Amortization of debt discount, premium and expenses, net 7,372 Other interest charges 15,910 Net interest charges 65,333 NET INCOME 79,771 DIVIDENDS ON PREFERRED STOCK 6,612 NET INCOME AFFER DIVIDENDS ON PREFERRED STOCK 73,159 This statement reflects the usual accounting practices of the company on the basis of l
interim figures and is subject to audit and end of year adjustments.
q:\\ tax \\incstate. doc
This essenmore reescem em usual AAAAAMA POWER COMPANY sensiseng protecas of em Company BALANCE SHEET on ew bene 3Intenm 4 ures and CON 00UDATED WTH ALAGAMA POWER CAPtTAL TRL*JT 4 0
4 le eidgest u suds and and of year (Sessed M Thousands $f Desers) edusenants.
4 At At Martm 31 Mercm 31.
ASSETS 1000 1000 UTIUTY PLANT.
Plant in serwce, et ongenei cost 10,503.600 10,106.060 Lees. Accumuested provieson for ^m and _._
3,014.033 3.000.106 e,500,035 e.430.056 Nucieer fuel, et emorened cost 88.348 e4,193 Conswucean work m progr===
303.290 374.082 7,081.270 0,000.030 Less. T., 4, & accumulated dedened ancome tones..
0 0
7.001.270 0.000.030 OTHER PROPERTY AND INVESTMENTS.
Southern Electic Generoame Compemr, et sodty 26.273 26.006 Nudeer -
iig Irusse.
111.016 71,536 h*=neous 10.302 10.100 157.403 117.000 CURRENT ASSETS.
- Caen, 4.101 e,334 Temporary cash imrsoner==
0 0
0 0
R Customer encounts ;
322,500 276.152 r
Omer accounts and notes :
18.036 17,000 1
AHheemd 80.031 25.443
)
Accumuleend prowesen for uN --
(e40)
(2,653)
Rehndeses moome *==
2.625 17.003 l
Foned bei eences, et everage snel 00,060 153,382 Meannees and supphes, et everese cost 170.se2 178215 i
Atowance invensory.
1,712 0
1 Properments.
I inizune *==
0 10,000 Omer.
150.203 129.142 Vecemon pay dew 28.306 20.442 077.150 033.640 l
l Datn eepense, heme erW 7 e00 7.426 Duet redempeen expense, twang emorm=8 03.040 08.000 Numiser L ^__ _.. and ^
.. And.
40.202 42.else Recuentory 432.740 448.173 e2233 4e 770 000.503 648.364 TOTAL ASSETS.
e 752 434
... f.500.520 CAPtTAUZATION AND WA51UTIES CAPITAUZATOL Common senck somey..
2.007.000 2.007,762 Preferred =
440,400 440.400 Company obegated mandleorey
_ secuness of Aiebeme PowerCoplialTrust1 (see&'
07.000 0
Lone earm cabt 2.372.017 2.306.383 6.507.826 5 443.625 CURRENT WASluTIES.
Lonitenem debt due at to De redeemed withm one year.
013 00,023 Noems payetne to W" 10,000 12,000 Commercsel paper 420.030 200.051 Accounta peysees.
Afghened -
70.250 47,455 Omer.
100.653 124.770 Customer depuens 30.001 30.012 Teses accrued.
Federaf and stoes W B1.747 30,807 Omer 32,038 31.400 Interest -"
48,077 40.711 Diammutons -"
1,361 0
Vecaton pay r" 20.306 20,442 08.661 50.7e8 074.771 767.883 DEFERRED CREDITS AND OTHER UABiUTIES.
Accumuested defened mcome w 1,100.0 te 1,177,011 Accumuseesd defened ^_
tem cre'8**
302.528 314.143 Propeni cepecsty revenues, not -
12922e 130,070 Desanud fevenues som
- of shaputed-0 0
Recueetory -
300.140 402,034 Nucesor
.. and J
., furuL 30.020 30 413 231.500 237.152 2.270.03e 2.307.332 TOTAL CAPITAUZATION AND UABlWTIES e 752 434 e 500 B20 Carpersie:
. Departnere Oert tres es 01 pas CONSOL WK4