ML25093A102

Decommissioning Funding Status Report

ML25093A102
Person / Time
Site:	North Anna
Issue date:	03/28/2025
From:	Maloney L W Old Dominion Electric Cooperative
To:	Document Control Desk, Office of Nuclear Reactor Regulation
References
Download: ML25093A102 (1)

Text

ODEC March 28, 2025 Old Dominion Electric CooperativesM United States Nuclear Regulatory Commission Attention: Document Control Desk Washington, D. C. 20555-0001 OLD DOMINION ELECTRIC COOPERATIVE NORTH ANNA POWER STATION UNITS 1 AND 2 DECOMMISSIONING FUNDING STATUS REPORT License Nos. NPF-4,7 Pursuant to 10 CFR 50.75(f)(1 ), Old Dominion Electric Cooperative (ODEC), is providing this report on the status of decommissioning funding for the North Anna Power Station (NAPS). provides the following information for NAPS:

NRC Minimum Financial Assurance Amount as of 12/31/2024 The following information is provided in support and as part of this filing :

1. Preliminary December 2024 Bureau of Labor Statistics indices values are used because the final December 2024 indices values were not available at the time of this filing.

2. The escalation 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 NAPS is referenced because the 2% Real Rate of Return allowed by 50.75(e)(1)(ii) is used in the calculations.

5. The current annual funding amounts shown for NAPS (Attachment 1) reflect only those fund amounts that are dedicated to radiological decommissioning.

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 30, 2023 (ML23095A058) for NAPS, there have been no material changes to trust agreements established for nuclear decommissioning for the NAPS units.

t A ri IJ, /

9 4201 Dominion Boulevard

~

804-747-0592 Jbt 804-747-3742

-/ f/ T Glen Allen, Virginia 23060

J f2_ I

_

If you have any questions concerning this filing, please contact me at (804) 968-4065.

Sincerely, Lynn A W. Maloney Vice President of Finance Old Dominion Electric Cooperative Attachment 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 Kenya Carrington Site Senior Resident Inspector NRC North Anna Power Station 1024 Haley Drive Mineral, VA 23117 9 4201 Dominion Boulevard

~

804-747-0592 Jbt 804-747-3742 Glen Allen, V*ginia 23060

ODEC E. Miller Old Dominion Electric CooperativeSM NRC Project Manager U. S. Nuclear Regulatory Commission, Mail Stop 08 G-9A One White Flint North 11555 Rockville Pike Rockville, MD 20852-2738 Eric Carr Senior Vice President and Chief Nuclear Officer Virginia Electric and Power Company 5000 Dominion Boulevard Glen Allen, VA 23060 Elizabeth Saxton Decommissioning Project Manager Dominion Energy 5000 Dominion Blvd,2SE Glen Allen, VA 23060 9 4201 Dominion Boulevard

~

804-747-0592

~

804-747-3742 Glen Allen, Virginia 23060 OLD DOMINION ELECTRIC COOPERATIVE NORTH ANNA POWER STATION UNITS 1 AND 2 2024 NUCLEAR DECOMMISSIONING FINANCIAL ASSURANCE In millions of dollars, except percentages and years North Anna 1 Unit 1 Method for Prov1d1ng Financial Assurance X

NPF-4 External Sinking Fund 2,940 0 0088 25 8720 NRC Minimum Financial Assurance Amounts as of 12/31/2024 Funds in the External Trust as of 12/31/2024 Allocated Radiological Funds Held in External Trust as of 12/31/202.f Allocated Rad1olog1cal Funds Held in External Trust as of 12/31/2024 minus NRC Minimum Amounts as of 12/31/20242*3 ProJected Annual Escalation Factor

+

X X

Annual Trust Funds Earnings Rate (After Taxes and Fees - assumes 2% Real Rate of Return)

Year Operating License Expires/ Start of Decommissioning (Reflects License Renewals)*

NRC Minimum Financial Assurance Amount 3 5 years after start of Decommissioning Estimated Radiological Funds in External Trust 3 5 years after start of Decomm1ss1oning2 Allocated Rad1olog1cal Funds in excess or (underfunded) to NRC Minimum 3.5 years after start of Decommissioning2*3 *

• Estimated Rad1olog1cal Funds in excess or (underfunded) to NRC Minimum Amount Discounted using Annual Trust Funds Earnings Rate to 12/31/2024

$4,5*

75 100 8720 10 95%

$11 0455 5 2323 57 79 146 58 104 78 46 99 0 000%

2 000%

2058 57 79 216 94 159 15

$82 38 Mwt X

+

X X

North Anna 1 Unit 2 NPF-7 External S1nk1ng Fund 2,940 0 0088 25 8720 75 100 8720 10 95%

$11 0455 5 2323 57 79 146.06 104 41 46 62 0 000%

2 000%

2060 57 79 226 65 168 86

$83 37 Mwt 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, Old Dominion Electric Cooperative is responsible for 10 95% of the decommissioning obligation. The amounts stated In the above tables reflect only that portion of the decomm1ss1oning obl1gat1on attributable to Old Dominion Electric Cooperative 2 The Allocated Rad1olog1cal Fund amounts shown exclude amounts designated for the future decommissioning of the independent spent fuel storage installation, spent fuel management, and non-radiological decommissioning The amount of decommissioning funds Is the after-tax amount of funds accumulated through December 31, 2024 3 Negative amounts (1f any) indicate that the Allocated Rad1olog1cal Trust Fund values are less than the values of the NRC Minimum Amounts for the period indicated 4 The Future Value calculation reflects a 2% real rate of return applied from January 1, 2024 to 3 5 years after start of decommissioning, assuming a 0% escalation rate 5AdJustment Factors unsed in calculating NRC Minimum Values are based on preliminary December 2024 Bureau of Labor Statistics 1nd1ces, as final December 2024 indices were not available at the lime of the calculation.

ODEC serves the power requirements of,ts 11 member distribution cooperatives pursuant to long-tenn wholesale power contracts. ODE C's wholesale power contracts with each of,ts member distribution cooperatives are substantially identical, while the schedules and exhibits to each contract are specific to each member. There have been no modifications to the current method of providing financial assurance since the report submitted on March 30, 2023 (ML23095A058).

2025-03-28 NRC Financial Assurance Filing Final Audit Report Created:

Status*

Transaction ID:

2025-03-28 David Fose (DFose@odec.com)

Signed CBJCHBCAABAA YDC19Qs6-MCDWZXIU 1 g7qcGXuqy6xP7K 2025-03-28 "2025-03-28 NRC Financial Assurance Filing" History

'El Document created by David Fose (DFose@odec.com) 2025-03 4 53:44 PM GMT L1 Document emailed to Lynn Maloney (lmaloney@odec.com) for signature 2025-03 4.54:44 PM GMT

'E' Email viewed by Lynn Maloney (lmaloney@odec.com) 2025-03 5 28:01 PM GMT Document e-signed by Lynn Maloney (lmaloney@odec.com)

Signature Date* 2025-03 5 31 19 PM GMT - Time Source server Agreement completed.

2025-03 5 31 : 19 PM GMT Adobe Acrobat Sign