NLS2021024, Decommissioning Funding

Decommissioning Funding

ML21099A117
Person / Time
Site:	Cooper
Issue date:	03/30/2021
From:	Dewhirst L Nebraska Public Power District (NPPD)
To:	Document Control Desk, Office of Nuclear Reactor Regulation
References
NLS2021024
Download: ML21099A117 (4)

Text

H Nebraska Public Power District Alwa,s there II/Ml ,ow need IU NLS2021024 50.75(f)(l)

March 30, 2021 U.S. Nuclear Regulatory Commission Attention: Document Control Desk Washington, D.C. 20555-0001

Subject:

Decommissioning Funding Cooper Nuclear Station, Docket No. 50-298, DPR-46

Dear Sir or Madam:

The purpose of this letter is to provide Nebraska Public Power District's Twelfth Biennial Report on Financial Assurance for Deco~ssioning for Cooper Nuclear Station in accm-dance with 10 CPR 50.75(f)(l), Reporting and Recordkeeping for Decommissioning Planning. The enclosed report contains the amount of decommissioning funds estimated to be required pursuant to 10 CPR 50.75(b) and (c), the amount accumulated to the end of the calendar year preceding the date of the report, a schedule of the annual amounts remaining to be collected if needed, the assumptions used regarding rates of escalation in decommissioning costs, and the rate of earnings on decommissioning funds.

This letter does not contain commitments.

Should you have any questions concerning this matter, please contact me at (402) 825-5416.

'--.--i...,._.. da D whirst Regulatory Affairs and Compliance Manager

/jo

Enclosure:

Twelfth Biennial Report on Financial Assurance for Decommissioning in Accordance with 10 CPR 50.75(f)(l) cc: Regional Administrator w/enclosure Cooper Project Manager w/enclosure USNRC - Region IV USNRC - Plant Licensing Branch IV Senior Resident Inspector w/enclosure NPG Distribution w/o enclosure USNRC-CNS AoDl CNS Records w/enclosure NI~

COOPER MJQ.EAR STATION P.O Box 98 / Brownville, NE 68321-0098 Telephone: (402) B25-38n I Fax: (4D2) 825-5211 www nppd com

• NLS2021024 Enclosure Page 1 of3 NEBRASKA PUBLIC POWER DISTRICT Twelfth Biennial Report on Financial Assurance for Decommissioning in Accordance with 10 CFR 50.75(£)(1)

NEBRASKA PUBLIC POWER DISTRICT Twelfth Biennlal Report on Financial Assurance for Decommissjonlng In Accordance with 10 CFR 50.75(f)(1)

Date: February 23, 2021 Station: Cooper Nuclear Station Ownerlllcensee making the report: Nebraska Public Power District Nebraska Public Power District (the *Distrtct") Is a public corporation and political subdMsion 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 {2020 Dollars): $629,126,0001 Decommissioning Fund2Total as of 12/31/2020: $706,200,165 Schedule of Future Annual Fund Projected Earnings and the NRC Minimum Decommissioning Cost In Constant 2020 dollars3 Profected Decommiaaionlng Earnings Cradtt.

Funding Applying NRC Beginning Funding Requirement Approved Real Ending Mbumwn Year Balance Contribution Year-Beginning Rate of Return Balance 2020 Dollara 2021 $706,200, 165 0 $7,062,002 $713,262, 167 $629,126,000 2022 $713,262, 167 0 $7,132,622 $720,394,788 $629, 126,000 2023 $720,394,788 0 $7,203,948 $727,598,736 $629, 126,000 2024 $727,598,736 0 $7,275,987 $734,874,724 $629,126,000 2025 $734,874,724 0 $7,348,747 $742,223,471 $629, 126,000 2026 $742,223,471 0 $7,422,235 $749,645,706 $629, 126,000 2027 $749,645,706 0 $7,496,457 $757,142,163 $629,126,000 1 This updated estimate is based upon NRC decommissioning mmlmum certification escalatlon requirements In 10 CFR 50.76(c){1) and (2) and guidance per NU REG 1307 for a BWR the size (2,419 MW thermal) of Cooper Nuclear Station. The calculation utilizes the waste burtal factor for Unaffiliated and Compact-Afflllated States with no Disposal Facility in Revision 18 of NUREG 1307 and Labor (final) end Energy (preliminary) escalation factors derived from December 2020 Midwest regional data of the U.S.

Department ~ Labor Bureau of Labor Statistics.

2 This Is the total amount (mericet value) In the external sinkmg fund (as described In 10 CFR 50.75) available to cover the costs of NRC-deffned decommissioning.

3 These figures will be recalculated on an annual bes1S In accordance with 10 CFR 50.75 (b) and (c). The above amounts reflect the current projected annual contributions (Including fW1d earnings), as necessary, to fully fund the decommissioning trust by the end of the operating Hcense (license expiration January 18, 2034), and takln9 Into account a pro rats credit durin9 the dlsmantlement period (recognizing both cash expenditures and earnings) over the first seven years after shutdown on a constant dollar basis (see 10 CFR 50. 75(e)( 1)(H)). Please note that el submissions by the District prior to 2015 In accordance with 10 CFR

50. 75{f)(1) have been provided on a nominal dollllr basis. This change Is responsive to RAJ #3 lndudecl in a May 23, 2013 emeH from Lynnea Wilkins, NRC Project Manager.

1

Projected Decommissioning Earnings Credit Funding Applying NRC Beginning Funding Requirement Approved Real Ending Minimum Year Balance Contribution Year-Beginning Rate of Return Balance 2020 Dollars 2028 $757,142,163 0 $7,571,422 $764,713,584 $629,126,000 2029 $764,713,584 0 $7,647,136 $772,360,720 $629, 126,000 2030 $772,360,720 0 $7,723,607 $780,084,327 $629,126,000 2031 $780,084,327 0 $7,800,843 $787,885,171 $629, 126,000 2032 $787,885, 171 0 $7,878,852 $795,764,022 $629,126,000 2033 $795,764,022 0 $7,957,640 $803,721,662 $629, 126,000 2034 $803,721,662 $89,875,142 $7,138,465 $720,984,986 2035 $720,984,986 $89,875,143 $6,311,098 $637,420,941 2036 $637,420,941 $89,875,143 $5,475,458 $553,021,256 2037 $553,021,256 $89,875, 143 $4,631,461 $467,777,574 2038 $467,777,574 $89,875,143 $3,779,024 $381,681,455 2039 $381,681,455 $89,875,143 $2,918,063 $294,724,376 2040 $294,724,376 $89,875,143 $2,048,492 $206,897,725 Rate Assumptions Rates of escalation used in estimating future decommissioning costs

• 2%

Rates of Earnings on Decommissioning Funds Post-tax'

• 3%

Contracts Relied Upon to Demonstrate Decommissioning Funding Assurance [50.75{e) (1) (v)]: None Modifications to the District's Current Method of Providing Flnanclal 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.

4 The 85SlJmed annual real rate of return Is 1.0 percent The Dlstrfct'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 (20-35), dated October 8, 2020, as part of its official buskless. This does represent a change to the previous Board Resolution, which was submitted as part of the July 14, 2011, RAI response.

2