ML20245D716
| ML20245D716 | |
| Person / Time | |
|---|---|
| Site: | Wolf Creek  |
| Issue date: | 04/27/1989 |
| From: | Withers B WOLF CREEK NUCLEAR OPERATING CORP. |
| To: | Murley T Office of Nuclear Reactor Regulation |
| References | |
| WM-89-0132, WM-89-132, NUDOCS 8905010124 | |
| Download: ML20245D716 (6) | |
Text
,
+
5 WOLF CREEK NUCLEAR OPERATING CORPORATION Bart D. Withers President and
. cent.Ex.caiv. ottic.r -
@ l E 1989 l.
WM 89-0132 Dr. Thomas E. Murley, Director Of fice of Nuclear Reactor Regulation U. S. Nuclear Regulatory Commission Washington, D. C. 20555 Subj ect :
Docket No. 50-482: Guarantee of Payment of Deferred Premiums, 10 CFR 140.21
Dear Dr. Murley:
Pursuant to the requirements of 10 CFR 140.21, the owners of Wolf Creek Generating Station are providing the attached documentation of their ability to make payment of deferred premiums in an amount of ten million dollars.
Kansas Gas.and E!.ectric Company's portion of the responsibilf.ty is being covered by a Revolving Credit and Terr. Loan Agreement.
Kansas City Power &
Light Company and Kansas Electric Power Cooperative, Inc. have elected to provide annual certified financial statements for their share of the responsibility.
If you have any questions concerning this submittal please contact me or Mr. O. L. Maynard of my staff.
Very truly yours, Bart D. Withers President and Chief Executive Officer BDW/j ad Attachments
,s cc:
B. L. Bartlett (NRC), w/a E. J. Holler (NRC), w/a R. D. Martin (NRC), w/a D. V. Pickett (NRC), w/a J. M. Rodriguez (NRC), w/a 8905010124 890427
/
yFpy 4m PDR ADOCK 05000482 J
PDC RO. Box 411/ Burlington, KS 66839 / Phone: (316) 364 8631 1
I An Equal Opporturuty Employer WFHCNET
Attachment to WM 89-0132 Page 1 of 5 KANSAS GAS AND ELECTRIC COMPANY THE ELE CTRIC COMPANY i
W R WHITM E R m..u...
1 i
KANSAS GAS AND ELECTRIC COMPANY j
Guarantee of Payment of Deferred Premium l
10CFR140.21 Kansas Gas and Electric Company's (KG&E) share of the $10 million for " guarantee of payment of deferred premiums" corresponds to our percentage ownership of the Wolf Creek Generating Station (47%), which amounts to $4.7 million. KG&E entered into a revolving Credit and Term Loan Agreement with a group of domestic banks, for whom Bankers Trust Company of New York City acts as agent.
KG&E currently has a $120 million unused balance until approximately June 30,
- 1994, as a source of long-term funding.
Of this amount, $4.7 million is being held in reserve by the Company to insure the payment of deferred premiums, if necessary.
A copy of the Revolving Credit and Loan Agreement is available upon request.
APPROVED
_I_,#;;9
' ' " Trd5s';rer DATE
[7, NN
~
201 N. Market - WicMa, Kansas - Mail Address: PO. Box 208 l Wichita, Kansas 67201 - Telephone: Area Code (316) 261-6579
fAttachment'to WM 89-0132.
J
',Page 2 of.5 j
n.
KANSAS CITY POWER & LIGHT COMPANY 1330 BALTIMORE AVENUE P. O BOX 418679 KANSAS CITY, MISSOURI 64141,9679
.q March 31, 198?
l i
Pursuanc to.the requirements of 10 CFR 140.21, Kansas City Power &
Light Company - (Company) is providing the attached statement - of their. ability to make payment of their share'of deferred premiums in an amount of $4,7 taillion.
This statement shows that internal l
projected ' cash f i.ow for the year-1989 is calculated as l
$170.1 million, and on. an average quarterly basis, is $42.5 million.
In accordance with' the projections, it is' expected that the
. Company's cash: flow would be sufficient to cover the assessment.
The undersigned certifies that-the ' foregoing memorandum with respect. to Kansas City Power & Light Company projected cash flow for the projection year is true and correct to the best of his knowledge and belief.
Controller
-NAR:rme attach i
i.
_ - _ -.__ __ __-..___ _ __ _ : - _ - _ -_ _ - - ^
Attachment to WM 89-0132 J
Page 3 of 5 I
l 1
KANSAS CITY POWER & LIGHT COMPANY 1989 INTERNAL CASH FLOW PROJECTION FOR WOLF CREEK NUCLEAR POWER STATION (Dollars in Thousands) l 1988 Projected Cash Actual Flow for 1989 Net Income after Taxes
$105,655 Less Dividends Declared 79,018 Retained Earnings 26,637 Ad jus tment s :
Depreciation and Amortization 96,766 Deferred Income Taxes and Investment Tax Credits 34,522 Allowance for Funds Used During Construction (613)
Amortization - Deferred Wolf Creek Costs 10,366 Deferred Wolf Creek Costs (10,988)
Phase-in deferrals (3,780)
Total' Adjustments' 126,273 Internal Cash Flow
$152,910
$170,103*
Average' Quarterly Cash Flow
$ 38,228 S 42,526 Percentage Ownership in All Operating Nuclear Units Wolf Creek 47.00%
Maximum Total Contingent Liability
$ 4,700 i
- Projected income information is considered confidential but will be provided if necessary upon request.
l l
i
VAttachmenti to WF 89-0132
..]
- Page 4.of.5' i
/M
- e
...v C'E R T I F I C A T I O N I,'[ Richard M. Tyler, am Director,. Finance and Accounting for.
Kansas Electric Power Cooperative, Inc., and have. reviewed the 1989 Internal. Cash'. Flow Projection for Kansas Electric Power Cooperative, Inc. and' certify toLthe.best of my knowledge that it
' accurately: reflects the financial position of Kansas Electric Power.
.. Cooperative,.Inc.,'as indicated.
)
1 W
Signed:
Dated :
. 2 l,. / 7 7
i i
i l
J
?'
g.
L._
_____1_______.
Attachment to WM 89-0132 Page 5 of 5 KANSAS ELECTRIC POWER COOPERATIVE, INC.
1989-Internal Cash Flow Projection 1988 1989 Prior Year Projected Actual Total Total Wet' Income After Taxes
$236,531 J1,270,900 Less Dividends Paid 0
0 Retained Earnings 236,531 1,270,900 Adjustments:
Depreciation and Am rtization 2,765,819 2,889,600 Deferred Income Taxes and Income Tax Credits 0
0 Allowance For Funds Used During Construction 0
0 2,765,819 2,889,600 Internal Cash Flow 3,002,350 4,160,500 Average Quarterly Cash. Flow S750,588 S1,040,125 Percentage ownership in All
' Operating Nuclear Units Wolf Creek Generating Station No. 1 6.001 Haximum Contingent Liability
$600,000 (1)
(1)
KEPCo's Share of NRC contingent reserve premium liability.
i l
l
_ - _ - _ _ _ _ - _ _ _ _ _ _ _ -.