ML23157A129

Annual Report of Guarantee of Payment of Deferred Premium

ML23157A129
Person / Time
Site:	Palo Verde
Issue date:	06/01/2023
From:	Madigan J Southern California Edison Co
To:	Document Control Desk, Office of Nuclear Reactor Regulation
References
Download: ML23157A129 (1)

Text

~ EDiSON*

An 1ID1SON INTERNA110NAL* Company James Madigan Manager - NOD, NRA, and NSC 10 CFR 140.21 June 1, 2023 ATTN: Document Control Desk U. S. Nuclear Regulatory Commission Washington, D.C. 20555-0001

Subject:

Annual Report of Guarantee of Payment of Deferred Premium Palo Verde Nuclear Generating Station Units 1, 2, and 3 Docket Nos. 50-528, 50-529, and 50-530

Dear Sir or Madam:

10 CFR 140.21 requires Southern California Edison (SCE), as a minority owner of a 15.8%

share of Palo Verde Units 1, 2, and 3, to provide evidence that it maintains a guarantee of payment of its share ($3.23 million) of the deferred premium in an amount of $20.5 million for each reactor it is licensed to own.

In accordance with option (e) of 10 CFR 140.21 and with 10 CFR 50.71(b), SCE is not required to submit its annual financial report or certified financial statement because SCE has provided its quarterly Form 10-Q report to the Securities and Exchange Commission. SCE is providing the enclosed 2022 Internal Cash Flow Statement, which is derived from the consolidated financial statements included in SCE's 2022 Annual Report.

With average quarterly cash flows of approximately $467 million during 2022, SCE certifies that it would be able to generate sufficient funds for payment of total retrospective premiums of

$9.7 million during calendar year 2023.

There are no commitments contained in this letter or its enclosure.

Should you have any questions or require additional information, please contact me at (951) 990-9631 .

Sincerely,

Enclosure:

2022 Internal Cash Flow Statement cc: R. J. Lewis, Regional Administrator, NRC Region IV A. M. Snyder, NRC Project Manager, SONGS Units 1, 2 and 3

Enclosure 2022 Internal Cash Flow Statement

SOUTHERN CALIFORNIA EDISON COMPANY 2022 lntemal Cash Flow (Dollars In Mllllons) 2022 Actual Net Income After Taxes $954 Dividends Paid ($1,410)

Retained Earnings ($456)

Adjusbnents:

Depreciation & Amortization $2,626 Net Deferred Taxes & ITC ($111)

,Allowance for Funds Used During Construction ($190)

Total Adjustments $2,325 Annual Internal Cash Flow $1,869 Quarterly Internal Cash Flow $467 Percentage Ownership:

Palo Verde Nuclear Generating Station Units 1, 2, & 3 Southern Califomla Edison Company 15.8000%

- -Maximum Total-Contingentl.labllity:

Palo Verde Nuclear Generating Station Unit 1 Southam California Edison Company $ 3.23811)

Other Co-Owners $ 17.258 TOTAL $ 20.496 Palo Verde Nuclear Generating Station Unit 2 Southern Callfomia Edison Company $ 3.238 (1)

Other Co-Owners $ 17.258.*

TOTAL $ 20.496 Palo Verde Nuclear Generating Station Unit 3 Southern Callfomla Edison Company $ 3.238 <11 Other Co-Owners $ 17.258 TOTAL $ 20.496 SCE Contingent Llablllty for Palo Verde Units 1, 2, & 3 $ 9.715

<1> The value represents 15.8% (SCE's Share) of the Palo Verde Annual Per Incident Contingent Liability. The Maximum Total Contingent Liability was Increased to

$20.496 (Dollars In MIiiions) per reactor, as announced in the Federal Register, Volume 83, No. 185; Monday September 24, 2018, Pages 48202-3 and became effective on November 1, 2018.