NLS2005026, Decommissioning Funding
| ML050810290 | |
| Person / Time | |
|---|---|
| Site: | Cooper  |
| Issue date: | 03/17/2005 |
| From: | Fleming P Nebraska Public Power District (NPPD) |
| To: | Document Control Desk, Office of Nuclear Reactor Regulation |
| References | |
| NLS2005026 | |
| Download: ML050810290 (4) | |
Text
Nebraska Public Power District Aluays there when Bou need us NLS2005026 March 17, 2005 U.S. Nuclear Regulatory Commission Attention: Document Control Desk Washington, D.C. 20555-0001
Subject:
Decommissioning Funding Cooper Nuclear Station, NRC Docket No. 50-298, DPR-46 In accordance with 10 CFR 50.75(0(1), Reporting and Record Keeping for Decommissioning Planning, enclosed is Nebraska Public Power District's Fourth Biennial Report on Financial Assurance for Decommissioning for Cooper Nuclear Station. Tile report contains the amount of decommissioning funds estimated to be required pursuant to 10 CFR 50.75(b) and (c), the amount accumulated to the end of the calendar year preceding the date of the report, a schedule ofthe annual amounts remaining to be collected, the assumptions used regarding rates of escalation in decommissioning costs, and the rate of earnings on decommissioning funds.
Should you have any questions concerning this matter, please contact Mr. Paul V. Fleming at (402) 825-2774.
Sincerely, Licensing Manager
/cb Enclosure cc: Regional Administrator w/enclosure USNRC - Region IV Senior Project Manager w/enclosure USNRC - NRR Project Directorate IV-I Senior Resident Inspector xv/enclosure USNRC NPG Distribution w/o enclosure Records xv/enclosure A
COOPER NUCLEAR STATION P.O. Box 98 / Brownville, NE 68321-0098 Telephone: (402) 825-3817 / Fax: (402) 825-5211 www.nppd.com
NLS2005026 Enclosure Page 1 of 2 NEBRASKA PUBLIC POWER DISTRICT Fourth Biennial Report on Financial Assurance for Decommissioning in accordance with 10 CFR 50.75(f)(1)
Date: March 17, 2005 Station: Cooper Nuclear Station Owner/licensee making the report: Nebraska Public Power District Nebraska Public Power District (the 'District") is a public corporation and political subdivision of the state of Nebraska. The District has the power and is required to fix, establish and collect adequate rates and other charges for electrical energy and any and all commodities or services sold or furnished by it. The District is accordingly authorized to establish its own rates and other charges through which it can recover its cost of service. The District is governed by an 11-member Board of Directors who are popularly elected from the District's chartered territory. The Board of Directors is the rate making authority for the District.
Percentage Ownership: 100 10 CFR 50.75 (b) & (c) Decommissioning Estimate (2004 Dollars): $431,376,000 Decommissioning Fund 1 Total as of 12/3112004: $350,749,655 Schedule of Future Annual Fund Earnings and Decommissioning Cost Escalation 2:
Funding Beginning Funding Requirement Fund Ending NRC Minimum Year Balance Contribution In 2014 Interest Balance Escalated 2005
$350,749,655 0
$19,291,231
$370,040,886
$431,376,000 2006 370,040,886 0
20,352,249 390,393,135 444,317,280 2007 390,393,135 0
21,471,622 411,864,757 457,646,798 2008 411,864,757 0
22,652,562 434,517,319 471,376,202 2009 434,517,319 0
23,898,453 458,415,771 485,517,488 2010 458,415,771 0
25,212,867 483,628,639 500,083,013 2011 483,628,639 0
26,599,575 510,228,214 515,085,503 2012 510,228,214 0
28,062,552 538,290,766 530,538,069 2013 538,290,766 0
29,605,992 567,896,758 546,454,211 2014
$567,896,758
$0 $562,847,837
$277,691
$5,326,611
$562,847,837 1 This is the total amount in the external sinking fund (as described in 10 CFR 50.75) to cover the costs of NRC-defined decommissioning.
2 This figure will be recalculated on an annual basis in accordance with 10 CFR 50.75 (b) and (c). The above amounts reflect the current projected annual contributions necessary to fully fund the decommissioning trust by the end of the operating license (license expiration January 18, 2014).
I
NLS2005026 Enclosure Page 2 of 2 Rate Assumptions Rates of escalation used in estimating future decommissioning costs 3%
Rates of Earnings on Decommissioning Funds Post-tax 3 5.5%
Contracts Relied Upon to Demonstrate Decommissioning Funding Assurance [50.75(e)(1)(v)]:
Not applicable Modifications to the District's Current Method of Providing Financial Assurance: None Material Changes to Decommissioning Trust Agreement: None NOTE 1: The District continues to maintain its Decommissioning Trust Fund investments in fixed income securities as required by Nebraska State Statutes.
3 The assumed annual real rate of return is 2.50 percent. The District's Board of Directors (as the licensee's rate setting authority) has approved this assumption for the decommissioning funding plan for Cooper Nuclear Station through the adoption of a Board Resolution as part of its official business.
2
ATTACHMENT 3 LIST OF REGULATORY COMMITMENTSO Correspondence Number: NLS2005026 The following table identifies those actions committed to by Nebraska Public Power District (NPPD) in this document. Any other actions discussed in the submittal represent intended or planned actions by NPPD. They are described for information only and are not regulatory commitments. Please notify the Licensing & Regulatory Affairs Manager at Cooper Nuclear Station of any questions regarding this document or any associated regulatory commitments.
COMMITTED DATE COMMITMENT OR OUTAGE None I
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REVISION 15 l
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