ML20245E972
| ML20245E972 | |
| Person / Time | |
|---|---|
| Site: | Comanche Peak  |
| Issue date: | 08/04/1989 |
| From: | William Cahill TEXAS UTILITIES ELECTRIC CO. (TU ELECTRIC) |
| To: | NRC OFFICE OF ADMINISTRATION & RESOURCES MANAGEMENT (ARM) |
| References | |
| TASK-DG1003, TASK-RE TXX-89542, NUDOCS 8908140072 | |
| Download: ML20245E972 (2) | |
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SUBJECT:
'COMANCHEPEAKSTEAMELECTRIC,STATIONi(CPSkS)
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Ws.'n'fGu'ide7 DG-1.003 entitled "Assur.ing the Availability of Funds n
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ry io,riihg Nde,le.Eg Re*aE.t.'.o.'. O The gliide was developed to provide T 'e c. o 0
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,-.:, Regulatory Position lI'.2 references the adjustment fact'or defined in the q.
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The guide should clearly state that
- ais the funds. set aside are greater than or equal to the
' ' J pa ' ' 'certi'flcation amount of 50.75(c)(1), as adjusted by the ascalation factor
' )f' of 50 75(c)(2), noladjustment is necessary. ~ Additionally, it should
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cla'rlfy that the factor is to be used only as a representation of actual 4
inflation and not as an estimate of future inflation. The same comments apply to Regulatory Position 1.5 when addressing the effects of inflation.
Regulatory Position 2.2.4 addresses acceptable investments.
It states that investments complying with IRS Code Section 468A, the utility's state gym commission or FERC are acceptable. This implies the guide is assuming the utility is electing to use a " qualified" fund and makes no statement u) regarding acceptable investments in a "non-qualified" fund. This
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paragraph should either be deleted from the guide or refer to a prudent man standard for investment guidelines.
00 0 us co Regulatory Position 2.2.5 (misnumbered 2.4.5) suggests the use of levelized funding. With the exception of the first year of contributions, p
og this language, as written, is inappropriate.
The regulations do not om require levelized funding, thus this paragraph should be deleted from the
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TXX-89542 August 4, 1989
' Page 2 of 2
' Anoendix A The definition of an external sinking fund uses the term " investment grade corporate securities." The guide.does not define what it means by investment grade.
This term should be deleted as a description of
. corporate securities because the term is subject to differing interpretations.
This definition also lists government securities.
It is presumed that government securities include municipal bonds.
It would be clearer to list municipals separately or to list Federal, State or local government securities.
ADDendix B.3 Appendix B.3 contains the recommended wording for a trust fund agreement.
The. guide should acknowledge that the Appendix provides. guidance and interpretation..The guide should further state that licensees are encouraged to propose trust agreements subject to staff review and in compliance with state trust laws.
Sincerely.
William J. Cahill, Jr.
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By:
J.(M. Beck Vice President, Nuclear Engineering JDR/grp c - Mr. R. D. Hartin, Region IV Resident Inspectors, CPSES (3) 1 l
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