ML20206J071
| ML20206J071 | |
| Person / Time | |
|---|---|
| Site: | Wolf Creek  |
| Issue date: | 05/05/1999 |
| From: | Maynard O WOLF CREEK NUCLEAR OPERATING CORP. |
| To: | Collins S NRC (Affiliation Not Assigned) |
| References | |
| WM-99-0028, WM-99-28, NUDOCS 9905120107 | |
| Download: ML20206J071 (7) | |
Text
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W8LF CREEK
' NUCLEAR OPERATING CORPORATION Otto L. Maynard President and Chief Executive Officer MAY 5 1999 WM 99-0028 S. J. Collins, Director Office of Nuclear Reactor Regulation U. S. Nuclear Regulatory Commission Washington, D. C.
20555
Subject:
Docket No:
50-482: Guarantee of Payment of Deferred Premiums, 10 CFR 140.21
Dear Mr. Collins:
Pursuant to the requirements of 10 CFR 140.21, each operating reactor licensee is required to maintain financial protection through guarantees of payment of deferred premiums.
The Owners of Wolf Creek Generating Station are providing the enclosed documentation of their ability to pay deferred premiums in the amount of ten million dollars, as required by 10 CFR 140.21(e).
Kansas City Power & Light Company, Kansas Electric Power Cooperatiive, Inc.,
and Western Resources, Inc., including its who]ly-owned subsidiary Kansas G&s and Electric Company, have provided an audited 1998 Consolidated Statement of Cash Flows in order to demonstrate sufficient funds are available to meet their share of the deferred premiums.
If you have any questions concerning this matter, please contact me at (316) 364-4000 or Mr. Mike Angus at (316) 364-4077.
Very truly yours, bW tu;/
Otto L. Maynard OLM/rlr Enclosures (3) i/
cca W. D. Johnson (NRC), w/e E. W.
Merschoff (NRC), w/e 1
K. M. Thomas (NRC), w/e y d l' Senior Resident Inspectors (NRC), w/e 1
l Document Control Desk (NRC), w/e
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9905120107 990505 '
PDR ADOCK 05000402t I
PDR '
P.O. Box 411/ Burhngton, KS 66839 / Phone; (316) 364-8831 An Equal Opportunsty Employer M F HCVET
t W&sternResources-April 28,1999 Mr. Mark Larson Wolf Creek Nuclear Operating Corporation PO Box 411 Burlington, KS 66039
Dear Mark:
Pursuant to the requirements of 10 CFR 140.21(e), Western Resources, Inc., including its wholly-owned subsidiary, Kansas Gas and Electric Company since March 31, 1992, is providing the attached audited Consolidated Statements of Cash Flows of its ability to make payment of its share of deferred premiums in an amount of $4.7 million.
The undersigned certifies that the foregoing memorandum with respect to Western Resources, Inc. 's cash flow for the year 1998 is true and correct to the best of her knowledge and belief.
Sincerely,
]bbtlLTAN:L& %
Beth Nelson Manager, Consolidated Accounting lms 818 South Kansas Avenue / P.O. Box 889 / Topeka, Kansas 66601 Office Telephone: (785) 575 6300
WESTERN RESOURCES, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS (Dollars in Thousands)
Yeaa endec December 31.
1999 1997 1996 Gestated CASH FLOWS FROM OPERATING ACTIVITIES:
Net income.
5 47,756 5 499,518 5 168,950 Adjustments to reconcile net inecme to net cash provided by operating activities:
Extraordinary gain.
(1,591)
Depreciation and amortization 280,673 256,725 201,331 Equity in earnings from investments (6,064)
(25,405)
(9,373)
(Gain)/ loss on sale of securities 14,029 (864,253)
Write-of f international 1eveicoment activtues.
98,916 Write off deferred mergei costs 48,008 Monitored services specta charge 24,292 Changes in working capital items (net of effects from acquisitions):
Accounts receivable (net) 118,844 14,156 (47,474)
Inventories and supplies (net).
(8,000) 3,249 10,624 Marketable securities.
6.293 (10,46'1)
Prepaid expenses and other.
(26,988) 9,230 (14,900)
Accounts payable.
(33.613)
(48,298) 15,353 Accrued liabilities (42,411) 68,623 10,261 Accrued income taxes...
5,582 9,869 26.377 Changes in other assets and liabilities (53.?!4)
(73.810)
(98.759)
Net cash flows from (used in) operating activities 400.212 (88.557) 262.390 CASH FLOWS USED IN INVESTING ACTIVITIES:
Additions to property, plant and ecutoment (net).
(182,885)
(207,989)
(188,952)
Customer account acquisitions (277,667)
(45,163)
Monitored services acquisitions, net of cash acquired.
(549,196)
(438,717)
(368,535)
Purchase of A0T common stock.
(589.362)
Proceeds from issuance of stock by subsidiary (net) 45,565 Purchases of marketable securities (261,036)
Proceeds from sale of marketable securities 27,895 1,533,530 Other investments (net)
(91.451)
(45.311)
(6.563)
Net cash flows (used in) from investing activities.
(1.289.775) 796.343 (1.153.412)
CASH FLOWS FROM FINANCING ACTIVITIES:
Short term debt (net) 75,972 (744,240) 777,290 Proceeds of long term debt.
1,096,238 520,000 225,000 Retirements of long term debt (167,068)
(293,977)
(16.135)
Issuance of other mandatorily redeemacle securities 120,000 Issuance of common stock (net).
17,284 25,042 33,212 Redemption of preference stock.
(50,000)
(100,000)
Cash dividends paid.
(144.077)
(141.7??)
(147.035)
Net Cash flows from (psed in) financing activities.
828.349 (634.902) 892.332 NET INCREASE (DECREASE) IN CASH AND CASH EOUIVALENTS.
(60,214) 72,884 1,310 CASH AND CASH EQUIVALENTS:
Beginning of the period 76.608 3.724 2.414 End of the period.
5 16.394 5 76.608 s
3.724 SUPPLEMENTAL O!SCLOSURES OF CASH FLOW INFORMATION CASH PA!D FOR:
Interest on financing activities (net of amount capitalized).
5 220,848 5 193,468 5 170,635 Income taxes.
47,196 404,548 66,692 SUPPLEMENTAL SCHE 0VLE OF NONCASH INVESTING AND FINANCING ACTIVITIES:
During 1997, the company contributed tne ret assets of its natural gas business totaling approximately 1594 million to ONE0( in excnange for an ownership interest of 45% in ONE0K.
The Notes to Consolidated Financial Statements are an integral part of this statement.
65 1
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Ntn. itOADMAN CONF"")LLF R Feb:oary 12,1999 l
Mr. Mark l arson Wolf Creek Nuclear Operating Corporation P.O. Box 411 Burlington, KS 66839
Dear Mark:
i Pursuant to the requirements of 10 CFR140.21(e), Kansas City Power & Light Company is providing the attached audited Consolidated Statements of Cash Flows of it ability to make l
payment ofits share of deferred premiums in an amount of $5 million.
The undersigned certifies that the foregoing memorandum with respect to Kansas City Power &
Light Company's cash flow for the year 1998 is true and correct to the best of his knowledge and i
I belief.
Sincerely, 1
3 s
f l
i l
I Attachment I
l KANSAS CITY POWER f2 L I G 11 T COMPANY 12 01 W A l. N U T P. O. B O X 418679 K A N S A S C I T Y, NI O 64141-9679
- 816 556-2200
)
KANSAS CITY POWER & LIGHT COMPANY Consolidated Statements of Cash Flows Year Ended December 31 1998 1997 1996 (thousands)
Cash Hows from Operating Activities Net income 120,722 $
76,560 $
108,171 Adjustments to reconcile net income to net cash from operating activities:
Depreciation 115,452 110,898 103,912 Amortization of:
Nuclear fuel 19,146 16,836 16,094 j
Deferred Wolf Creek costs 1,368 11,617 j
Other 9,071 8,223 5,507 Deferred income taxes (net)
(2,468) 4,780 (8,G62)
Investment tax credit amortization (4,471)
(3,850)
(4,163)
Losses from equity investments 11,683 2,748 3,268 (8.885) j Deferred storm costs i
Kansas rate refund accrual 14,200 Allowance for equity funds used during construction (3,816)
(2,407)
(2,368)
Other operating activities (Note 1) 23,144 (6,672)
(7,582)
{
Net cash from operating activities 302,663 208,484 216,909 Cash Flows from investing Activities Utility capital expenditures (119,540)
(124,734)
(100,947)
Allowance for borrowed funds used during construction (2,474)
(2,341)
(1,947)
Purchases of investments (55,154)
(107,603)
(35,362)
Purchases of nonutility property (22,611)
(15,733)
(20,395)
Sale CBLT Power 53,033 21,500 Sale of streetlights Other investing activities 8,008 (8,902)
(931)
Net cash from investing activities (138,738)
(237,813)
(159,582)
Cash Flows from Financing Activities 150,000 issuance of mandatority redeemable Preferred Securities Issuance oflong-term debt 7,406 66,292 135,441 Repayment of lor,g-term debt (102,680)
(28,832)
(74,230)
Net change in short-term borrowings 8,757 1,243 (19,000)
Dividends paid (105,475)
(104,042)
(102,203)
Other financing activities (2,818)
(4,805)
(2,154)
Net cash from financing activities (194,810) 79,856 (62,146)
Net Change in Cash and Cash Equivalents (30,885) 50,527 (4,819)
Cash and Cash Equivalents at Beginning of Year 74,098 23,571 28,390 Cash and Cash Equivalents at End of Year 43,213 $
74,098 $
23,571 Cash Paid During the Year for:
Interest (net of amount capitalized) 71,696 $
71,272 $
52,457 income taxes 24,788 $
22,385 $
58,344 The accompanying Notes to Consolidated Financial Statements are an integr,sart of these statements.
16
liPR1*a1000 xerco Kansas EIGctric P
p ower Cooperaflve,Inc.
A Touchstone Energy" Partner h April 16,1999 Mr. Mark Larson Comptroller Wolf Creek Nuclear Operating Corporation Burlington, KS 66839 Dear Mark-Pursuant to the requirements of 10 CRF 140.21(e), Kansas Electric Power Cooperative, Inc. is providing the attached audited Statement of Cash Flows to show its ability to make payment of its share of deferred premiums in an amount of 1600,000.
The undersigned certifies that the foregoing memorandum with respect to Kansas Electric Power Cooperative, Inc.'s. cash flow for the year 1998 is true and correct to the best of his knowledge and belief.
i Sincerely yours, j
N Sandy Abrahams Contrciler Enclosure (1) i i
I i
i Phone: 785/273-7U13 Fax: 785/271-4888
- Home Poge: www.kepco.org Moiling Address: P.O. Box 4877 Topeka, Konsos 66604G77 Street Address: 5990 SW 28th Street 66614
1 W
KANSAS El.ECTRIC POWER COOPERATIVE, INC.
STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED DECEMBER 31,1998 AND 1997 1998 1997 CASH FLOWS FROM OPERATING ACTIVITIES:
I Net margin 5 4,732,094
$ 4,798,317 Adjustments to reconcile net margin to net cash j
provided by operations-E Depreciation and amortization 5,087,567 5,024,125 Amortization of nuclear foi 2,908,466 2,501,840 Amortization of deferred charges 843,240 681,824 Amortization of deferred incremental outage costs 2,128,906 1,720,789 Decrease (increase) in deferred charges 67,442 (29,671)
Increase in deferred incremental outage costs (3,194,067)
E Increase in decommissioning liability 460,473 682,987 Increase in arbitrage rebate payable 133,981 282,058 Change in other long-term liabilities (17,292) 75,293 I
Changes in current assets and liabilities-Member accounts receivable 930,290 35,850 Materials and supplies inventory (33,787)
(5,476)
Other assets and prepaid expense 82,046 80,945 I
Accounts payable (586,685) 1,859,630 Payroll and payroll related liabilities 59,592 47,250 Accrued property taxes (123,906)
(189,022)
Accrued interest payable 193,536 (258,829)
Net cash provided by operating activities 16,865,963 14,113,843 I
CASH FLOWS FROM INVESTING ACTIVITIES:
I Additions to electric plant (1,233,398)
(1,116,406)
Additions to nuclear fuel (2,845,352)
(2,791,307)
I Woli Creek nuclear operating investment (395,741)
(430,343)
Increase in decommissioning fund assets (460,473)
(682,987)
Net change in unrealized gain on investments 163,092 333,293 Increase in other restricted investments (1,819)
(140,196)
I Sales (purchar. a of short-term investments 1,038,393 (816,080)
Purchases of other investments (2,321,304) 0,747,733)
Net cash used in investing activities (6,056,602)
(7,391,759)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of long-term debt (7,561,890)
(4,781,228)
I Fees paid for refinancing long-term debt (3,323,602)
Amortization of debt issue costs 422,536 348,504 Deferred patronage dividends paid (2,591,872)
(4,459,628)
I Membership fees 100 Net cash used infinancing activities (9,731,226)
(12,215,85-1)
Net increase (decrease) in cash and cash equivalents 1,078,135 (5,493,770)
I CASH AND CASH EQUIVALENTS AT:
Deginning of year 4,470,005 9,963,775 End of year
$ 5,548,140
$ 4,470,005 The accompanying notes are an integral part of these financial statements.
I