ML20196K811

Forwards Decommissioning Funding Status Rept for Indian Point,Units 1 & 2 Through 981231

ML20196K811
Person / Time
Site:	Indian Point
Issue date:	03/31/1999
From:	Blind A CONSOLIDATED EDISON CO. OF NEW YORK, INC.
To:	NRC OFFICE OF INFORMATION RESOURCES MANAGEMENT (IRM)
References
NUDOCS 9904060379
Download: ML20196K811 (4)

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1 A. Alan Bilnd Vice Preeders I

l Connoridated Edison Company of New York, Inc.

Indian Point Stacon Brobdway & Blealdey Avenue i

Buchanan, NY 10511 i

Te6ephone (914) 734-5340 i

Fax: (914) 734 s7*8 March 31,1999 undeocor x oom 4

Re:

Docket Nos. 50-3 and 50-247 Indian Point Units 1 and 2 U.S. Nuclear Regulatory Commission ATTN: Document Control Desk Mail Station PI-137 Washington, DC 20555-0001

Subject:

Decommissionine Fundine Status Report - Indian Point Units 1 and 2 Gentlemen:

j Pursuant to 10 C.F.R. 50.75(f)(1), Consolidated Edison Company of New York, Inc. (" Con Edison") submits the following report on the status of j

decommissioning funding for Con Edison's two nuclear units, Indian Point Units 1 and 2. Con Edison is the sole owner of both units. Con Edison originally submitted information to the NRC regarding decommissioning funding for these units by letter to the NRC dated July 17,1990. The data presented herein is provided as of December 31,1998, and reflects the best information availaMe to Con Edison at this time. Unless otherwise indicated, the amounts are in 1998 dollars.

No new regulatory commitments are being made by Con Edison in this correspondence.

Should NRC staff have any questions regarding this matter, please contact

.Mr. Robert Muccilo, Assistant Controller, at (212) 460-2884.

Respectfully submitted, Y

pnt Attachment l

9904060379 990331 7

PDR ADOCK 05000003 *'

I PDR g

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I C:

Mr. Hubert J. Miller Regional Administrator-RegionI US Nuclear Regulatory Commission 475 Allendale Road.

King of Prussia, PA 19406 Mr. John L. Minns, Project Manager Division of Reactor Program Management US Nuclear Regulatory Commission Mail Stop 10-D4 l

Washington, DC 20555 Mr. Jefferey F. Harold, Project Manager Project Directorate I-l Division of Reactor Projects I/II US Nuclear Regulatory Commission Mail Stop 14B-2 Washington, DC 20555 Senior Resident Inspector US Nuclear Regulatory Commission PO Box 38 Buchanaa, NY 10511 1

U.S. Nuclear Regulatory Commission ATTN: Robert Wood Mail Station Ol:-F1 Washington, DC 20555-0001 l

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NRC DECOMMISSIONING FUNDING STATUS REPORT of

. CONSOLIDATED EDISON COMPANY OF NEW YORK, INC.

for the INDIAN POINT 1 AND INDIAN POINT 2 NUCLEAR POWER UNITS as of DECEMBER 31,1998

1. - The amount of decommissioning funds anticipated to be required in accordance with the NRC minimum certification funding amount fonnula (10 CFR 50.75(b) and (c))

for nuclear decommissioning:' -

(a)

Lcw Level Waste Direct Disposal Indian Point 1 Indian Point 2 Total

$399.1 million

$463.1 million

$862.2 million (b). Low Level Waste Disposition by Waste Vendors Indian Point 1 Indian Point 2 Total

$235.1 million

$272.8 million

$507.9 million 2.

The amount of funds (net of taxes) accumulated to the end of calendar year 1998 for nuclear decommissioning:

Indian Point 1 Indian Point 2 Total

$92.9 million

$172.2 million

$265.1 million l

l l-Costs associated with decommissioning as reported herein reflect the activities necessary to decommission the facility as dermed in 10 CFR 50.2. The decommissioning costs are calculated based on the information provided in NUREG-1307, Revision No. 8.

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3.

Schedule of the annual amounts remaining to be collected.

Year Indian Point 1 Indian Point 2 Total 2

1999-2002

$6.8 million

$14.5 million

$21.3 million Year Indian Point 1 Indian Point 2 Total 2002-2013' (See footnote 3) 4.

The assumptions used regarding escalation in decommissioning costs and rates of earnings on decommissioning funds are as follows:

Assumed decommissioning cost escalation rate 3.25 %

Assumed rate of earnings on decommissioning funds (after taxes) 6.00 %

5.

Con Edison is not relying upon any contracts pursuant to 10 CFR 50.75(e)(1)(v).

6.

Except as set forth herein (see footnotes 2 and 3), there have been no modifications to Con Edison's current method of providing nuclear decommissioning financial assurance since the July 17,1990 report.

7.

There have been no material changes pertaining to Indian Point Units 1 and 2 nuclear decommissioning trust agreements 2

Under a 1995 electric rate agreement, the New York State Public Service Commission ("PSC") approved an annual decommissioning expense allowance for the nuclear portion of the plants of $21.3 million.

The determination of the contribution amount was based on a 1994 site-specific decommissioning study.

The site-specific study concluded that the total costs of nuclear decommissioning for indian Point Units 1 and 2 amounted to $657 million in 1993 dollars, $252 million of wtach represented spent fuel storage costs. The costs of decommissioning Indian Point Units 1 & 2 excluding spent fuel storage costs l

amounted to $405 million.

A September 23,1997 settlement agreement approved by the PSC, which expires on March 31,2002, provides for the recovery of decommissioning costs for Indian Point Units I and 2, and reflects the rate recovery of site-specific decommissioning costs in 1998 dollars of $771.3 million. As set forth in this table, the current NRC minimum is between $507.9 million and $862.2 million for both units. At the end of the current PSC agreement, Con Edison would propose to the PSC to reflect a decommissioning cost allowance consistent with any site-specific study for Indian Point Units 1 and 2 and then-current NRC minimum decommissioning cost estimates.

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