ML23089A364

Decommissioning Funding Status Report

ML23089A364
Person / Time
Site:	Surry, North Anna
Issue date:	03/30/2023
From:	James Holloway Dominion Energy Virginia, Virginia Electric & Power Co (VEPCO)
To:	Office of Nuclear Reactor Regulation, Document Control Desk
References
23-061
Download: ML23089A364 (1)

Text

VIRGINIA ELECTRIC AND POWER COMPANY RICHMOND, VIRGINIA 23261 March 30, 2023 United States Nuclear Regulatory Commission Attention: Document Control Desk Washington, D. C. 20555-0001 Serial No.23-061 NRA/MLW R2 Docket Nos.

50-280/281 50-338/339 License Nos.

DPR-32/37 NPF-4/7 VIRGINIA ELECTRIC AND POWER COMPANY (DOMINION ENERGY VIRGINIA)

SURRY POWER STATION UNITS 1 AND 2 NORTH ANNA POWER STATION UNITS 1 AND 2 DECOMMISSIONING FUNDING STATUS REPORT Pursuant to 10 CFR 50.75(f)(1), Virginia Electric and Power Company (Dominion Energy Virginia), is providing this report on the status of decommissioning funding for each of the four nuclear power reactors referenced above. provides the following information for North Anna Power Station (NAPS) and Surry Power Station (SPS):

Table I -

NRC Minimum Financial Assurance Amount as of 12/31/2022 Table II -

Allocated Radiological Funds Held in External Trusts as of 12/31/2022 Table Ill - Current Annual Funding Levels - Radiological Portion Table IV-NRC Minimum Financial Assurance Summary Table The following information is provided in support and as part of this filing:

1. Preliminary December 2022 Bureau of Labor Statistics indices values are used because the final December 2022 indices values were not available at the time of this filing.

2. The escalation rate of decommissioning costs is held at 0% based on assuming 2% Real Rate of Return.

3. The growth rate on Trust Funds is held at the allowed 2% Real Rate of Return over the escalation rate.

4. No rate regulatory authority citation for SPS or NAPS is referenced because the 2% Real Rate of Return allowed by 50.75(e)(1)(ii) is used in the calculations.

Serial No.: 23-061 Docket Nos.: 50-280/281/338/339 Page 2 of 3

5. There are no contracts upon which Dominion Energy Virginia is relying under paragraph 10 CFR 50.75(e)(1)(v) and there were no modifications to the licensee's current method of providing financial assurance since the last submitted report.

6. Trust Fund amounts shown for each of the units in this report are market value and after-tax on realized gains and losses. The Trust Fund balances have not been adjusted for unrealized gain or loss positions not currently taxable.

7. Since the previous biennial submittal on March 25, 2021 (Serial No.21-078, ADAMS Accession No. ML21085A553) for SPS and NAPS, there have been no material changes to trust agreements established for nuclear decommissioning for the SPS and NAPS units.

Please contact Mr. Craig D. Sly at (804) 273-2784 if you have any questions or require additional information.

Sincerely, James E. Holloway Vice President - Nuclear Engineering and Fleet Support Virginia Electric and Power Company (Dominion Energy Virginia)

Attachment:

Nuclear Decommissioning Financial Assurance as of 12/31/2022 Commitments made in this letter: None

cc:

U.S. Nuclear Regulatory Commission, Region II Marquis One Tower 245 Peachtree Center Avenue, NE, Suite 1200 Atlanta, Georgia 30303-1257 NRC Senior Resident Inspectors Surry and North Anna Power Stations Mr. G. Edward Miller Serial No.: 23-061 Docket Nos.: 50-280/281/338/339 Page 3 of 3 NRC Senior Project Manager-North Anna Power Station U. S. Nuclear Regulatory Commission Mail Stop 09 E-3 11555 Rockville Pike One White Flint North Rockville, Maryland 20852-2738 Mr. L. John Klos NRC Project Manager-Surry Power Station U.S. Nuclear Regulatory Commission Mail Stop 09 E-3 11555 Rockville Pike One White Flint North Rockville, Maryland 20852-2738 ODEC (Marcus Harris) R-North-Anna-Correspondence@odec.com Old Dominion Electric Cooperative Serial No.: 23-061 Docket Nos.: 50-280/281/338/339 Nuclear Decommissioning Financial Assurance as of 12/31/2022 Surry Power Station Units 1 and 2 North Anna Power Station Units 1 and 2 Virginia Electric and Power Company (Dominion Energy Virginia)

Serial No.: 23-061 Docket Nos.: 50-280/281/338/339 Page 1 of 3 Virginia Electric and Power Company Decommissioning Funding Status Report as of December 31, 2022 VIRGINIA ELECTRIC AND POWER CO MPANY Nuclear Decommissioning Financial Assurance as of:

12/31/2022 Ta ble I:

NRC Minimum Financial Assurance Amount as of: 12/31/2022 10 CFR 50.75 (f)(1)

(M\lfons of Dollars)

(See Note 5)

(See Note 5) (See Notes 1&5) (See Notes 1&5)

S..-.y Smy North Anna North Anna Customer U1It1 U1It2 U!It1 U!It2 Total Cla ssificalion I See Nole 6l DPR-32 DPR-37 NPF-4 NPF-7 AIIUrilS

\-1,giria Slate OJ/poralon Corrmssion (VSCC) 436.6 $

436.6 $

402.0 $

402.0 1,677.2 Corrpaf¥ Corlriblfon s

s Norfl Caroiim l.f.lilies Comrission 25.3 $

25.3 s 23.3 $

23.3 97.4 Federal Energy Regllalofy Cormission 6.4 6.4 $

5.9 $

5.9 s 24.5 Vl,giria Ret,il (ootllllerVSCCjuisa.U:on) s 60.1 60.1 s 55.4 55.4 s 231.1 Lra:locat..d s

2.6 s 2.6 s 2.4 s 2.4

~

10.1 Total 531.1 531.1 489.1 489.1 2,040.3 Table II:

Allocated Radiological Funds Held in External Trusts as of: 12/31/2022 10 CFR 50.75 (f)(1)

(MiJi.Ons of Dollars)

(See Note 2)

(See Note 2) (See Notes 1 & 2) (See Notes 1 & 2)

S..-.y Smy NorthAma North Anna Customer U1It1 Urit2 Urit1 Unit2 Total Classlncalion !See Nole 61 DPR-32 DPR-37 NPF-4 NPF-7 AIIUrits Wg'ria S'ate OJ/poram ComTission (VSCCJ s

515.9 s 497.1 s 408.6 s 387.7 s 1,809.3 Corrpaf¥ Corlnl>Lfon 4.1 4.7 s 1.5 s 1.4 s 11.7 Norf1 caroona U;.es Comrission 31.4 35.5 s 29.7 s 27.5 s 124.0 Federal Energy RegLlaDfY Cormission 25.1 s 27.4 s 7.7 s 6.8 s 67.0 v1rgiria Retail (ootllllerVSCCjuisd'd:on) s 74.7 80.4 s 65.0 s 60.3 s 280.4 Unalloca!Ed s

s s

s Total 651.2 645.1 512.4 s 483.6 2,292.3 Ta ble Ill:

Current Annual Funding Levels - Radiological Portion 10 CFR 50.75 (f)(1)

(Mil:ons ofOol1aIS)

(See Note 1)

(See Note 1)

S..-.y Smy North Anna North Anna Customer Unit1 U!It2 Urit1 Urit2 Total Classification DPR-32 DPR-37 NPF-4 NPF-7 All Urits Wg'lia St;'.a Corpora~on ComTission(VSCC) s s

s s

Corrpaf¥ Corlribuon s

s s

s Norf1 camrrra lffl es Comrission s

s s

s s

Federal Energy Reglla'ay Cormission s

s s

Wgiria Reta!t (oollmerVSCCjuisaidon) s s

s u--a:localed s

s s

s Total

Serial No.: 23-061 Docket Nos.: 50-280/281/338/339 Page 2 of 3 Virginia Electric and Power Company Decommissioning Funding Status Report as of December 31, 2022 Table IV:

Mehld brl'rov!d'.r!J FirercialA.ssuarce NRC MrirrunArrouis as of:

Fu-ds in Exerral Tru,!,; as of.

Alloca1ed Radiological Fulls in Exlerral Tn.sts as of.

(SeeNote2)

Alloca'ed Radiological Fu-ds in El<!smaf Tn.stsas of:

Mrus NRCMrirrunAm:M.n asof.

(See Notes 2 & 3)

Projected Arn.al Escala.oo Faclora Arn.alTrustFu-dsEanillJS Ra~

(A.'le< Tax& Fees-assures 2% Real Ra~ of Re1un)

YearToatq,e,afrg Licerse ~ires/ Startof OecomTissiorirg (Rel eds Licerse Rene-""1 for SJTy ard NomArm)

NRC Mrinun F.-.;n:ial Assuance MlJUt 3.Syears a*.sr startof OecomTissiorirg Estrra'.ecl Radiological Fu-ds in El<Erral Tn.sts 3.Syeais ars1artof0ecom1issiorirg (See Note 2) 12/31/2022 12/31/2022 12/31/2022 12131/2022 12/31/2022 Alloca1ed Rado!ogical Fu-ds in ellt:eSS or (in:letlrded) t> NRC Mrirrun 3.5yea1S-s1altof OecomTissiorirg (See Notes 2, 3 & 4)

Esfrmtad Radiological Fu-ds ineJCeSS or(ITTler!irded)t> NRCMrirrun Discou1ed usirgAm.al TrustFu-ds EanirgsRa:e t>

12/311::D22S (See Notes 4 & 5)

(See Noto 5)

Smy Unit 1 DPR-32 EJdemal Sinking Fund s

531.1 s

905.4 s

651.2 s

120.1 0.00%

2.00%

2052 531.1 s

1,249.7 s

718.6 374.5 NRC Minimum Financial Assurance Summary Table 10 CFR 50.75 (f}(1)

(Milions oroo~ rs - except percentages and years)

(See Note 5) (See Notes 1&5) (See Notes 1&5}

Surry NorlhAma NorlhAma Unit2 Unit 1 Unit2 Tola!

DPR-37 NPF-4 NPF-7 All Urits EJdemal EJdemal EJdemal Sinking Fund Sinking Fund Sinking Fund s

531.1 s 489.1 s 489.1 s 2.040.3 s

892.1 s 724.2 s 680.8 s 3.202.5 s

645.1 s 512.4 s 483.6 s 2.292.3 s

114.0 s 23.3 s (5.5) S 252.0 0.00%

0.00%

0.00%

2.00%

2.00%

2.00%

2053 2038 2040 s

531.1 s 489.1 s 489.1 s 2,040.3 s

1,254.5 s 742.8 s 735.5 3,982.4 s

723.4 s 253.7 s 246.4 1,942.1 s

372.0 s 175.0 s 162.0 s 1,083.5 Notes: Tables I through IV (Any minor differences in totals are due to rounding.)

1) The North Anna Power Station is jointly owned by Virginia Electric and Power Company (88.4%) and Old Dominion Electric Cooperative (11.6%). However, Virginia Electric and Power Company is responsible for 89.26% of the Decommissioning obligation. The amounts stated in the above tables reflect only that portion of the Decommissioning obligation attributable to Virginia Electric and Power Company.

2) The Allocated Radiological Fund amounts shown exclude amounts designated for the future decommissioning of the Independent Spent Fuel Storage Installations (ISFSls),

spent fuel management, and non-radiological decommissioning.

3) Negative amount indicates that the Allocated Radiological Trust Fund value is less than the value of the NRG Minimum.

Serial No.: 23-061 Docket Nos.: 50-280/281/338/339 Page 3 of 3

4) The Future Value calculation for SPS and NAPS reflects a 2% Real Rate of Return applied from January 1, 2023, to 3.5 years after start of Decommissioning assuming a 0% Escalation Rate.

5) Adjustment Factors used in calculating NRC Minimum Values are based on preliminary December 2022 Bureau of Labor Statistics indices, as final December 2022 indices were not available at the time of the calculation.

6) The allocation among customer classifications in Tables I and II is based on 2021 allocation percentages as the 2022 allocations have not yet been finalized.