ML24088A235

Decommissioning Funding Status Report

ML24088A235
Person / Time
Site:	Millstone
Issue date:	03/26/2024
From:	James Holloway Dominion Energy Nuclear Connecticut
To:	Office of Nuclear Reactor Regulation, Document Control Desk
References
24-100
Download: ML24088A235 (1)

Text

Dominion Energy Nuclear Connecticut, Inc.

5000 Dominion Boulevard, Glen Allen, VA 23060 Dominion Energy.com

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Dominion

iiiii" Energy 0

March 26, 2024 United States Nuclear Regulatory Commission Attention: Document Control Desk Washington, D. C. 20555-0001 DOMINION ENERGY NUCLEAR CONNECTICUT, INC.

MILLSTONE POWER STATION UNIT 1 DECOMMISSIONING FUNDING STATUS REPORT Serial No.:

24-100 NRA/JHH:

R1 Docket No.: 50-245 License No.: DPR-21 Pursuant to 10 CFR 50.75(f)(1) and 10 CFR 50.82(a)(8)(v)-(vii), Dominion Energy Nuclear Connecticut, Inc. (DENC) is providing this report on the status of decommissioning funding for Millstone Power Station Unit 1 (MPS 1 ). provides the following information for MPS1:

Table I -

Decommissioning Funding Status Report for MPS1 Summary Information as of December 31, 2023 Table II - Decommissioning Funding Status Report for MPS1 Annual Cash Flow Analysis Starting January 1, 2024 through End of Decommissioning The following information is provided in support and as part of this filing:

1. The escalation of decommissioning costs from the Cost Study's 2019 dollars to 2024 dollars is 3. 76% and is based upon the average of CPI-U rates, Bureau of Labor Statistics, FCPIU.US CPI: Consumer Price Index for All Urban Consumers, (Index 1982-84=100, SA) for that period.

2. The escalation rate of decommissioning costs, shown in Table II is 0% based on assuming a 2% Real Rate of Return.

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

4. No rate regulatory authority citation for MPS1 is referenced because MPS1 is a merchant unit.

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

Serial No.: 24-100 Docket No.: 50-245 MPS 1 Decommissioning Trust Fund Status Report Page 2 of 2

6. There are no annual funding amounts for MPS1.

7. Trust Fund balances shown 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 that are not currently taxable.

8. Since the previous annual submittal on March 30, 2023 (Serial No.23-063, ADAMS Accession No. ML23089A372) for MPS1, there have been no material changes to the Trust agreements established for nuclear decommissioning.

Please contact Julie Hough at (804) 273-3586 if you have any questions or require additional information.

Sincerely,

~ µa_J James E. Holloway Vice President - Nuclear Engineering and Fleet Support Dominion Energy Nuclear Connecticut, Inc.

Attachment:

Decommissioning Funding Status Report for Millstone Power Station Unit 1, Summary Information as of December 31, 2023 Commitments made in this letter: None cc:

U.S. Nuclear Regulatory Commission Region I 2100 Renaissance Blvd, Suite 100 King of Prussia, Pennsylvania 19406-2713 Karl Sturzebecher NRG Senior Project Manager - Millstone Power Station, Unit 1 U.S. Nuclear Regulatory Commission Washington, D.C. 20555-0001

Attachment Serial No.: 24-100 Docket No.: 50-245 Decommissioning Funding Status Report for Millstone Power Station Unit 1 Summary Information as of December 31, 2023 Millstone Power Station - Unit 1 Dominion Energy Nuclear Connecticut, Inc. (DENC)

Serial No.: 24-100 Docket No.: 50-245 Attachment, page 1 of 3 Table I:

Decommissioning Funding Status Report for MPS1 Summary Information as of December 31, 2023 10 CFR 50.82 (a)(8)(v)-(vll) lln millions} differences due to roundinQ Oecommissionina Trust Fund Balances 10 CFR Reference I 50.82/al/8lMIAl l50.821all8l/vm1Al Fund Balance Type of Trusts Comments 803.9 Unit 1 aualified furd balance As of:

12/31/2023 Unit 1 non-aualified furd balance As of:

12/31/2023 4.1 Less costs incurred but not vet billed to Trust Actual Cost in:

2023 Dollars 799.8 Adjusted decomrnissioninq fund balance As of:

12/31/2023 Other Financial Assurance Methods Being Relied Upon 10 CFR Reference l50.82/a)(8lM/Al I

None Prior Years Decommissioning Expenditures 10 CFR Reference l50.82(a)(8)(vl1Al I

Total License Term Spent Fuel Mgmt Site Restoration Comments 6.9 $

2.8 $

4.1 2023 Cost in:

2023 Dollars 112.1 50.8 61.4 2001-2022 Cost in:

As-Spent Dollars 119.0 53.5 65.5 Total Prior Year in:

As-Spent Dollars Prior Year Decommissionin!I Expenditures Variance to Estimated Cost 10 CFR Reference I 50.82(a)(8)(v)(B)

I Total License Term Spent Fuel Mgmt Site Restoration Comments s

6.9 $

Actual Cost in 2023 Dollars s

9.2 s

NRCAuth$ in 2023 Dollars s

(2.3) s s

Variance: Timrg, certain projects rescheduled in 2024.

Remaining Decommissioning Estimated Cost 10 CFR Reference I 50.82(a)(8)(v)(B)

I 50.82(a)(8)(vli)(B)

Total License Term Spent Fuel Mgmt Site Restoration Comments 576.8 s 428.1 s 139.6 9.0 Estimate in :

2024 Dollars Decommlssionina Criteria Upon Which the Estimate is Based 10 CFR Reference I 50.82/all8)M/Bl I

SAFSTOR Anv Modification To Method of Providina Financial Assurance 10 CFR Reference I 50.82(a)(8)(v)(C)

I None Any Material Changes To Trust Agreement Since Previous Report 10 CFR Reference I 50.82(a)(8lMIDl I

None Need For Additional Financial Assurance 10 CFR Reference I50.82/al(Sllvil l50.82/al/8l/vl0/Cl None See Arnl!II Cash Flow Analysis in Table II Inputs to Remainina Cost and Fundina Anatvsls I

I 2024 Start vear of Remainirg Cost and Fundina analysis 3.76%

Escalate study dollars from Studv Year to Start Year of Analvsis usina an average of CPI rates 0.00%

Escalation rate 2024

& Beyond 2.00%

Fund growth rate 2024

& Beyond (Reflects NRC allowed 2% Real Rate of Return)

Proiected amual exoenditu-es - see Arnl!II Cash Flow Analvsis in Table II Notes: Table I

1) Previous decommissioning expenditures represent the withdrawals from the nuclear decommissioning trusts made by Dominion Energy Nuclear Connecticut, Inc. These expenditures do not include the withdrawals made by the former owners of MPS1.

2) Expenditures include withdrawals for spent fuel management, consistent with DENC's previous notices to the NRC, as well as allowed ordinary administrative costs.

Table II:

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Beginning of Year Year Balance 2024 799.8 2025 807.3 2026 817.2 2027 828.0 2028 839.1 2029 850.4 2030 862.0 2031 873.7 2032 885.7 2033 897.9 2034 910.4 2035 900.4 2036 890.8 2037 894.9 2038 900.1 2039 906.3 2040 922.5 2041 939.1 2042 956.0 2043 973.2 2044 990.8 2045 1,008.7 2046 1 021.0 2047 1,016.8 2048 s

968.2 2049 s

917.8 2050 852.4 2051 s

809.4 2052 s

787.5 2053 s

772.6 2054 767.2 2055 776.9 2056 790.5 2057 806.3 2058 822.5 2059 838.9 2060 855.7 2061 s

872.8 2062 890.2 2063 908.1 2064 926.2 2065 s

944.7 2066 s

963.6 2067 s

982.9 2068 s

1 002.6 2069 1,022.6 2070 s

1,043.1 Remaining $ In 2024 Serial No.: 24-100 Docket No.: 50-245 MPS1 Decommissioning Trust Fund Status Report Page 2 of 3 Decommissioning Funding Status Report for MPS1 Annual Cash Flow Analysis Starting January 1, 2024 through End of Decommissioning 10 CFR 50.82 (a)(8}(v)-(vii) lin millions! differences due to roundina

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Earnings Remaining Remaining Remaining Remaining End on Ucense Termnatlon Spent Fuel Mgmt Site Restoration SAFSTOR of Trust Funds Expenditures Expenditures Expenditures Expendlures Year I Reflects 2% RRoRI

!Reflects ll".4 Escl (Reflects 0% Escl (Reflects 0% Escl

!Reflects 0% Escl Balance 15.9 4.1 s

4.4 s

8.5 s 807.3 16.1 1.8 4.4

- s 6.2 s 817.2 s

16.3 1.1 4.3

- s 5.4 s 828.0 16.5 1.1 4.3 5.4 s 839.1 16.7 1.1 4.3 5.4 s 850.4 17.0 1.1 4.3

- s 5.4 s 862.0 17.2 1.1 4.3 5.4 $

873.7 17.4 1.1 4.3 5.4 $

885.7 17.7 1.2 4.3 5.4 $

897.9 17.9 1.2 s 4.3 s 5.4 $

910.4 17.9 1.8 $

26.1 27.9 $

900.4 17.7 1.8 $

25.5 s 27.3 $

890.8 17.7 13.6 13.6 $

894.9 17.8 12.5 s 12.5 900.1 17.9 11.8 11.8 $

906.3 18.1 s 0.8 s 1.0 s 1.9 $

922.5 18.4 0.8 1.0 1.9 $

939.1 18.8 s 0.8 1.0 s s

1.9 $

956.0 19.1 0.8 1.0 1.9 $

973.2 19.4 s 0.8 1.0 1.9 $

990.8 19.8 0.8 1.0 1.9 1,008.7 20.1 6.8 1.0 $

- s 7.8 $

1,021.0 20.2 $

24.3

- s

- s 24.3 $

1,016.8 s

19.7 $

68.3 68.3 s 968.2 18.7 $

69.1 69.1 917.8 s

17.5 $

82.8 0.1 82.9 $

852.4 16.5 $

58.4 1.0 $

59.4 $

809.4 s

15.8 $

35.1 2.6 $

37.8 $

787.5 15.4 $

27.5 2.9 $

30.3 $

772.6 s

15.2 $

19.0 1.7 20.6 $

767.2 15.3 5.0 0.5 s 5.5 $

776.9 15.5 1.9 0.1 1.9 $

790.5 15.8 $

806.3 s

16.1 s 822.5 16.4 838.9 16.8 s

- s 855.7 17.1 s 872.8 17.5 $

- s 890.2 17.8 908.1 18.2

- s

- s 926.2 18.5

- s s

944.7 18.9 963.6 19.3 982.9 19.7 1,002.6 20.1 1 022.6 20.5 1,043.1 s

20.8 6.3 6.3 $

1,057.6 Oolars 428.1 139.6 $

9.0 $

576.8 Est. Fund Balance (end of Deconmssioning) (in Future$ escalated at 0.0% & 2.0% Real Rate of Return Fund Growth Rate) 1,057.6 Est. Fund Balance (end of Deconvnissioning) discounted to 2024 Dolars Discount Rate = 2.00%

425.3

Table II Definitions:

Column 1:

Beginning of Year Balance:

Serial No.: 24-100 Docket No.: 50-245 MPS1 Decommissioning Trust Fund Status Report Page 3 of 3 Reflects the beginning-of-year Trust Fund balance at a 0.0% cost escalation rate and a 2.0% Real Rate of Return (RRoR) on fund growth.

Column 2:

Earnings on Trust Funds:

Reflects earnings on funds remaining in the trust. A 2.0% RRoR Fund growth rate is used for 2024 through 2070 which reflects the allowed 2.0% RRoR over a 0.0%

cost escalation rate. The annual 2.0% RRoR earnings are calculated on the beginning balance less 50% of the projected annual expenditure for each year.

Column 3:

Remaining License Termination Expenditures:

Reflects the annual License Termination Plan cost portion at a 0.0% escalation rate from the Site Specific Estimate.

Column 4:

Remaining Spent Fuel Management Expenditures:

Reflects the annual Irradiated Fuel Management Plan cost portion at a 0.0%

escalation rate from the Site Specific Estimate. This column provides funding information for managing irradiated fuel as required by 10 CFR 50.82(a)(8)(vii).

Column 5:

Remaining Site Restoration Expenditures:

Reflects the annual Site Restoration Plan cost portion at a 0.0% escalation rate from the Site Specific Estimate.

Column 6:

Remaining SAFSTOR Expenditures:

Reflects the annual SAFSTOR Decommissioning Plan cost at a 0.0% escalation rate from the Site Specific Cost Estimate.

Column 7:

End of Year Balance:

Reflects the end of year Trust Fund balance after projected earnings are added and projected expenditures are deducted for the year specified at a 0.0%

escalation rate and a 2.0% RRoR on fund growth.

Tables I and II General Notes: (Any minor differences in totals are due to rounding)

1) Trust Fund balance reflects market value on December 31, 2023, net of taxes on realized gains and losses.

2) The 2.0% RRoR is based on the rate allowed by 10 CFR 50.75(e)(1)(i) and 10 CFR 50.82(a)(8)(vi).

3) The funding method for providing financial assurance for decommissioning MPS1 remains prepayment. The cash flow analysis in Table II demonstrates that the amounts accumulated in the Trust are sufficient, with credited earnings at a 2.0% RRoR, to cover the estimated cost of radiological decommissioning, spent fuel management and site restoration.