ML20210M725

Forwards Projection of Ability to Pay Retrospective Premium Adjustment for Period of Aug 1999 to 000731, Which Demonstrates That Ceny Will Have Sufficient Cash Flow &/Or Cash Reserve Available Throughout Period to Pay Premium

ML20210M725
Person / Time
Site:	Indian Point
Issue date:	07/26/1999
From:	Blind A CONSOLIDATED EDISON CO. OF NEW YORK, INC.
To:	Dinitz I NRC
References
NUDOCS 9908100157
Download: ML20210M725 (2)

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Teseonor a 1914) r34 5340 Far (914) 734-5r'8 July 26,1999 canoa4conea com Re: Indian Point Unit No. I and No,2 Docket No.50-003 and 50-247

- Mr. Ira P, Dinitz US Nuclear Regulatory Commission .

Mail Stop 12E-4 Washingtori DC,20555

SUBJECT:

Report Submittal Pursuant to 10 CFR 140.21

" Licensee Guarantees of Payment of Deferred Premiums"

Enclosed pursuant to 10 CFR 6140.21, is a " Projection of Ability to Pay Retrospective Premium Adjustment for Period August 1999 to July 31,2000", dated July 15,1999, which demonstrates that Consolidated Edison Company

of New York, Inc. will have sufficient cash flow and/or cash reserves available throughout such period to pay anv 1 i applicable retrospective premium to which the company might be subject.  !

Very truly yours, W ,f l A. Alan Blind Vice President

- cc: Document Control Desk

- US Nuclear Regulatory Commission Mail Station PI-137

. Washington DC,20555 Mr. Hubert J. Miller

!'  : Regional Administrator - Region I -

US Nuclear Regulatory Commission

'475 Allendale Road IGng of Prussia, PA 19406 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 gO(

PO Box 38 -

. Buchanan, NY 10511 '

J 9908100157 990726 ,

PDR ADOCK 05000003 1 J PDR i 4

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CONSOLIDATED EDtSON COMPANY OF NEW YORK _ INC.

PROJECTION OF ABILITY TO PAY.

RETROSPECTIVE PREMlUM ADJUSTMENT FOR PERIOD AUGUST 1.1229 to JULY 312000 (Millions of Dollars)

1. Past Eamings, Net Cash Flows from Operating Activities and Alicwance for Funds Used Dunng Construction:

Year Ended December 31 1228 122Z 1995 1925 1223 1993 1992 1921 1220 1922 Net income $745.1 $712.8 $094.1 $723.9 $734.3 $658.5 $604.1 $566 9 $571.5 $606.1 Net Cash Flows From Operating Activities 1.436 8 1.238 5 1,107.3 1.276.5 1.249 9 1.025.3 962 0 945.4 842,2 889 6 AFDC 3.7 66 5.1 5.6 12.0 10 6 13 8 14 4 90 13,1 II. Available Cash and Temporary Caah investments at June 30.1999 $ 2712 million 111. Estimated Depreciation 6nd Deferred Taxes :

Year Ended December 31 1229 2000 Average Depreciation $507 $012 $510 Deferred Taxes M 12 26 Total 1 14,9 1 11,1 3,31g IV. Estimated Expenditures for Construction and Nuclear Fuel:

Year Ended December 31 1999 2000 Average Construction $611 $599 $605 Nuclear Fuel 22 23 23 Total $$ 1G 12 V. Analysis:

Con Edison's net income has grown from $606.1 million to $745.1 million in the last ten years Con Edisen expects to finance its capital requirements for 1999 and 2000. including requirements for maturing long term deot, from cash balances intemally generated funds and extemal financing which would likely be debt issues. Dunng the penod August 1,1999 July 31. 2000. Con Edison will retire $200 0 million of long-term debt (exclusive of any advanced refundings)

The company believes it will have sufficient cash flow and cash reserves to pay any applicable premium adjustment dunng the penod August 1,1999 July 31. 2000 o

CERTIFICATION

l. Hyman Schoenblurn. %ce President and Controller of Consohdaled Edison Company of New York. Inc (" Con Edison"), hereby certify that the histoncal data presented above correctly reflect the accounting records of Con Edison and, in my opinion.

the estimates presented above are reasonable.

July 15.1999 1

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