ML20138D704

Forwards Annual Submission of Alabama Power Co W/Respect to Retrospective Premium Guarantee Required Under Price- Anderson Act.Balance Sheet & Statement of Income,Encl

ML20138D704
Person / Time
Site:	Farley
Issue date:	04/29/1997
From:	Derieux J ALABAMA POWER CO.
To:	NRC OFFICE OF INFORMATION RESOURCES MANAGEMENT (IRM)
Shared Package
ML20138D709	List: ML20138D704 ML20138D721
References
NUDOCS 9705010218
Download: ML20138D704 (4)

Text

. _ _ _ _ _ _ _ . _ _

_ . . . _ _ _ . _ .,_ _ -._ - __m.m._.__. _______ . _ _ _ . . - . . _ _ _ _ _ _ _ . _. . _ . _ _. y Alabama Power Company

/  ;

600 North 18th Street Post Office Box 2641 Bimungham, Alabama 35291-0030 Telephone 205 t50-2454

(

J. Randy DeRieux Assistant Treasurer and M i

[ General Manager-Corporate Finance and Planning AlabamaIbwer l  !

the southem electrc system I

April 29, 1997 l U. S. Nuclear Regulatory Commission  :

Attn: Document Control Desk I Washington, D.C. 20555 I

! To Whom It May concern:

i  ;

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. 1996 Annual' Report which includes financial statements for the l calendar year 1996, together with the report on such statements l by Arthur Andersen & Co., independent public accountants;

2. Unaudited Financial Statements for the quarter ended March 31, 1997; .

3. Cash Flow Projections for the period January 1, 1997 through f December 31, 1997, showing that cash flow of $20,000,000 can be l generated and would be available for payment of retrospective l 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,,  !

i

a. m -- .x mn J. Randy DeRieux

, JRD:lw Enclosures 010015 l f .

OD'7 '

l cc: w/ attachments

Mr. L. A. Reyes, Region II Administrator l Mr. J. I. Zimmerman, NRR Project Manager Mr. T. M. Ross, Plant Sr. Resident Inspector 9705010218 970429 ll.....

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nie amemos renene sw wousi cuaAuA power CoMPAur  !

aseeweme prestees of the Conveny BALANCE $HEET I en the bees of weenm Apses and CONSOLIDATED WrTH ALABAMA POWEQ CCATAL TQUSTS i & n se o. lect to suet end one of year t$leted m Thousenes of Dosers) j j -^ . ;e - 1 l

At Al Meren 31, Meren 31 A48tTS 1997 19981 UTILITY PLANT.

, Plant m sorwce. at onprip'seet .... .

$ 10 861.096 8 10 S03 588 j Less . Assumwated prowmon for espremahan and amortuanon .. . 4.196 246 3 914 933_

$ 664 450 6 588 635 Newer bel. at smorband cost .. 113 666 80 346 Conmrussen worn m progrees . ..._... - 2 gen. 38ue8 7.060 948 7 061.279

)

OTHER PROPERTY ANO INVESTMENTS

]

Southem Electne Generstm8 Company. al eedy .. ._

27.011 26.273 Nucteer escomneomonmg trusle 152.253 111 918 l Msceneneous .. . . .

21.353 10 303 i 200.617 157.494

! e CURRENT ASSETS j Cash. S 476 4.101 i Temporary sash r e 0 0 koweetmore secunbee .. 0 0 R.co e. . l Cumomer accounts reserweme o 302 374 322.596 Omer encourts and notes recevoke . is 467 18 835 Afilmeted comperees... . . . . . .. .- 37.752 69 631 1 Assumweled prow.on for unsuescNeo esentses .. (1.357) (9401 Rehndesse mcome tusse

]

a dei 2 025 i Feamt bei stoes et everage sost... 106.25$ OS 858 Materiais and misobes. et everage soet- 157.025 170 892 Aeoesnce invernory 3.344 1.712 j Propeymente -

t income teses 0 0 Omer . . . . . . . 178 937 150.203 Vacahon pay enferred .. 27.083 29 36$ l l

841 819 877159 )

I Dett expense, bemg emorband -

7.610 7 000

! Dent resenynon expense, beme amortiand .. ... _..._,. .._... 82.717 83 640 Nuclear escontaneneben and escomnussenmg fund . .

37.490 40 282 j RegWetery assele , 400 263 432,748 l

Msceseneous .. 100M 92 233 1

646 811 6S6 5C3 1

l l

TOTAL ASSETS - $ a 750 995 $ $ 792 439 l CAPf7ALEATION ANO LIAalLITIES CAPITALIZATION Common stock esaty... $ 2 691.926 $ 2 687 608

)

Preterred stoest. . . . . . . . . . . . . . _ . . . . . . . . . . . . . . . 340 400 440 400 i t Company stii9eled meneetonly redeemeese secuntee of Asebeme I Power Capital Truste t & il * . 297.000 07.000 Longterm deet. 2.298 901 2 372 817 l

l 6 627.026 6 597.821 CURRENT LIAalLmES

, Lonp4erm deat eue or to be receemed estNn one year 60.05S 910 l *dmes payems to herme .. 0 10 000 1

Consnereial peper. e.. 413.786 420 030 )

Assounts payatie e j Afilmesed semper ee - 56 400 70.250 1 Other - _ ~ 112.938 100 554 i , Cueremer esposta 32 721 30 B01

! Tamse seerued .

Feenrei and male 53 230 $1.747 5 OPer - 30 478 32 036 Ireerest meer" 43 930 46 077 Dietnbdione seen.d. . . . 0 1.361 Vasseen pay aceruse.. 27.043 29 365 l

78 303 64.561 .

Sea B20 874 772 DEFERRED CREDITS AND OTHER LIAallmES Asmandated esserved moome lemme ... .. -.... 1.198 950 1.190 816  !

Assumdated eederred meselrnese tan ersets ... 291.269 302.626 I Pre 94'd ammemy ._ n net, jtg gty 123,328 l

Regdelery ^ ~ . . . . . . , ,. 300 980 380.140 helmer e-- _ _ and - eveng knd - 33 741 36 620 ed a. . 119 380 231 608 i

2.223 441 2.279 138 TOTAL CAPITAll2ATION AND LIABILITIES .,. . . . $ 0 750.995 8 8 TS2 435  :

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.e. . m est, e. m- se . - . .e.e. . m o -,e e - in . ,ee, ID15 acerasen 8 Jee,ende WelW e. Apeene,e es lp Egentee one Leedbee @ De lecepeckle edes Jenke,y 8 180F c is - -.e.,ospe e l

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- j l

ALABAMA POWER COMPANY STATEMENT Of INCOME (Stated in Thouends of Dollars) 3 MONTHS ENDED MARCH 31, 1997 OPERATING REVENUES:

Revenues- $ 704,767 OPERATING EXPENSES:

Operation--

Fuel 201,007 Purchased and interchange power, Net 23,432 Other 117,629 Maintenance 68,950 Depreciation and Amortization 85,652 Taxes other than income taxes 49,456 Federal and state income taxes 35.186 Total operating expenses 581.312 OPERATING INCOME 123,455 ,

OTHER INCOME (EXPENSE): l Allowance for equity funds used during construction l Income from subsidiary 1,181 Other, net 1,809 INCOME BEFORE INTEREST CHARGES 126.445 )

INTEREST CHARGES:

l Interest on long-term debt 4 G,381 Allowance for debt funds used during construction (945)

• Amortization of debt discount, premium and expenses, net 2,396 Other interest charges 15,108

]

Net interest charges 62,940 l l

[ NETINCOME 63,505 DIVIDENDS ON PREFERRED STOCK 5.698 NET INCOME AITER DIVIDENDS ON PREFERRED STOCK $ 57,807 l l

This statement reflects the usual accounting practices of the Company on the basis of interim figures and is subject to audit and end of year adjustments.

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(

l ALABAMA POWER COMPANY Internal Cash Flow for i Joseph M. Farley Nuclear Power Station (Thousands of Dollars) l 1996 1997 Actual Projections Net income $ 398,092 $ 400,904 Less Dividends Paid 374,102 347,290 Retained Earnings 23,990 53,614 Adjustments:

Depreciation and Amortizatic: 383,438 444,833 ,

Deferred Income Taxes and  !

Investment Tax Credits 16,585 (6,544) l Allowance for Equity Used During Construction -

(437)

Total Adjustments 400,023 437,852 Internal Cash Flow $ 424,013 $ 491,466 Average Quarterly Cash Flow $ 106,003_ $ 1221867 1

l Percentage Ownership in all l Operating Nuclear Units: 1 Joseph M. Farley Units 1 and 2 100 % l Maximum Total Conti.4'ent Liability $20,000 4

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