NLS9100280, NPPD 1990 Annual Rept
| ML20073M629 | |
| Person / Time | |
|---|---|
| Site: | Cooper  |
| Issue date: | 12/31/1990 |
| From: | Horn G NEBRASKA PUBLIC POWER DISTRICT |
| To: | NRC OFFICE OF INFORMATION RESOURCES MANAGEMENT (IRM) |
| References | |
| NLS9100280, NUDOCS 9105150337 | |
| Download: ML20073M629 (40) | |
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NLS9100280 May 6, 1991 U.S. Nuclear Regulat ory Cornmission Attentlon: Document Control Desk k'a s h i ngt on , DC 20555
Subject:
Nebraska Public Power District 1990 Annual Report NRC Docket No. 50-298, DPR 46 Ce n t 1 e roen : In accordance with the requirements cited in 10 CrK Part 50.71(b), Nebraska Public Power District submits its Annual Report for calendar year 1990. Should you have any questions or require additional information, do not hesitate to contact me. Sinc / rely,
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G. lO Horn Nuclear Power Croup Manager
/rg Enclosure cc: Regional Administrator USNRC Region IV NRC Resident Inspector Cooper Nuclear Station iA0 9105150337 901231 V \
pDR ADOCK 05000298 (
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- 1990 ANNUAL REPORT i
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l l 1990 Officers : of the Board of Directors , I:ted A. liernn.eton. Chainnan
, Wanen R. Cook. First Vice Chainnan linice W. Gustaf son. Second Vice Chainnan Gw en N1. Cooper, Secretary i
Way ne !!. lloy d. Tr easuret-1990 Senior Management Ronald W. watkins. Gene D. Watson. . l'tesident and Chiel lisecuth e Ollicer General Counsel . Roben I.. Gangel. Theodore N1. Ky ster. Vice President I:inance Awistant Treasurer and Controller s alhl Adnlinistratio!) R. Annette lla ley. Wilhain A. N1enill. Assistant Sectetary r Vice l'acsident Operations < llugh G. Parris.
- Vite l'lesident Production I
Reference Guide s ea, ai a comcc .Page 2
\lessage tsom the hesnient anil Cli n . . Page 3
\lessJ/c l1t011 lllO (~II.11!!!I.tli ol !!Ie lhlaill . .. l' ape 4 lloani ol I hrectot s . ,
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\ ice heshtents' Year fri Resic% .,l' apes ti l Neslk tilsibility to ('usioniets -. - l' age 9 Resiwinubihty to the Ian nonment . . Page I I Responubihis to limployecs . Pape 13 Responsibihts to the l'uture . Pace 15 $
1 mans ial Repon . PagesIfi12
\1ap of System . l' ayes 34 35 ,
I hlallsllial Ne\ le% . Intpc 3f t
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l , k i l Kilim all loint hales 11 Inllte h) slellil . !II bl!!IIIII N ili m .nll lh ill! helles til It m .I l't m ei . Ilh - i (Nu le.o 1.h ilii\ i - 2 n billion t ( qier.iinie Re\ ennes I 1 il let tile S) stein) . .\ UO3 Illillion ( )lnci.llilip Re\ eflues lfilll) hales til lim .1 l'Im el. lile.
!. i Not le.o I .h 11:13 > . .5 ' A tuillion i t bt of l'im es l' ult haseil athilienet.ite(I ilot loiline Nut le.u I .h ility anil l'ow er Supply hy stein > .N252.7 niillion
; ( nhet ( y>ci.iting lapenses . .\ No niilhon e
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Ik'blNCl \ f( c ( t l\ cl .1,'e . l .D 4 1 i i Statement Of Purpose i hc s hua a iwu roui t hsni. i n o n n n n, .h .p nic, u ,nso n,i .oi,i orciaw a puh!n s iit p o.it ain .oul pihth al uh in i t enef at thy plants.Itathiniunin hncs.snh'ta s h eli l lIh' SlalJ ii! \cht hka ( i lillid iil IIlt' i i lit en s alk! Lllslllbblit Mi s) NlcIlh .d hl ti l put I h ,t t h 1 a'hlit s i yt .it ains a s c .tal m .illoar d , hasc. pcociate. dottibute, tt.phout anil scll of I to c,i,e s ainsoluie el 1 I nicnibcis pipu clet h n ener n , both al w holesale pal ict.nl. 1.a ly i to ial tronntru h ts uunju omy suNh f or h phhn:c. p mrt. branny .unt olhct por s hn ns of the linh a li s han int it nitory p isc s \tanayenient and upcianon of the l hescilistri. ts ens t unpos N*iit the state's4I l bstt h t h as s oinplohed u tih a . tall til ap
.iunhc a..l p in n on of I u o othct < ount m s pn w n A h .' .9 W 6 p i son.
Ihc l h s11 h I h.h the lk u ci. an u $nc i alts : 7 a. 4 Y v
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- sulk 01 a n u n ir knuud u uh t iencral I in u n ph9 cc in our region.d operatnins area and i settlal m I"W helped in to oiket oletatmp (icneral( llhee suppin pet sonnel resulted m e yvines in our natlear alca, alkl antactn e sipmnp the last of 201 new 3.ycar iontiach .
nmuupph uinn.im napea us i., nou doe n mdi tomnunddn we sene ai ,ccut we 'I
, u sts al our other gener. amp laahtin woe able to dede.nc rates to our w indnale ,
f- ,?.' Nomcha codic lthc hkthethcadcol untomen by .N . . uni w e ienew eil h lu de. [
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. ; ,' - , ? '. }, the em nonnient.arul w e are pleased u nh out sale pmet cotur.hb dunny the year. Tiwse ,
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, *Q . 7 - as lue'.cmenb m th" em nontaental area as unhunen h.ne p!A ed then f utu'es in our l
,' ,j.... wclh NPPI) ha a hntor: of hdping to nie- hanA % e .n cept the repe,nihihty of pai--
l [,P' 3 . ( ,, .. sen e the pond h!c of our state, % operate s nloip ikea nceds, m.untaming ichable se n . i , e* sg ana maimain an ot ou, uainin u idi nimo,i s e una teepmp dice uiss ,a a mun,nunt f.._ w colhern for pounhon of the ein nontncHl. I af n elgouraped by .nhhhonal etions
't hn Itadunin p,ud oli m 1u00 durmy draf t-- niAle dution PMI to ensute a bener haute inyof theClean Au lernlation.Wnhthehelp Ior our organvalion as well in foi in I un.
of our Nebraska Conpiewional delepation. tomen. We h.n e alwap pms ided a tull w e w cie sua ess!ul in nunimump the clln i t.mpe of sen ice s toour ict;ul untomen. ~1 he , the legniahon sull h.n e on us aiki oul on tenewn! miernt pLhed on sen itn tot our l As sou see in our uner. Nebraska toinen % w ere able to slum th.u out t oal- w holesalc antomers a n nient e that w e w di
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Pubhc Pow c: 1)nu n't h.n a p m ert ol inpon- tuni pawnding usuk .uc ahe.nly (lean and (ononue to be the best pmer supply option l i sihhty to the people of Nebraska !)onny Ad Ndn ada alulother T lean %taicuhouhl m oubtate Nchiada , PMI. w e maue major su nin m f ullilhne and not N penalved for haung ken ens non. The da Ale of the '40s hohls t hal-l enhanang ihn resp msduhty . In f act. it I h.nl inentalk consuous inun the Nguoung- lengo atal oppulutuun los NPPI). We
- o dest obe 1000 in one w onl. that uont Mrough the hant wo:L and dahcanon neni to obtun a ocw brense lot operanon of
, w o.ihl be ' out stan,hnp f of otn eniplo)co. we ni.nle smetal other out hydloelectne pmlect and irnpalion la 4 We hada nuheat tmani ulkl ho net '
'" U"' aa oinpinlunenh dunny lum In our ahon m central Nebrada. Ilus stale must rn enun w cre s9 i x nulhon.and dehi sen u e nude u incal Wper Nudear Stahon in en cd aho nun e f of w anl w nh wing and (onstruc -
I unciace was l B l statal in last scar's anothn round of ncdlent worn hom the lion of a low In d rmhoarin c w aste dnpnal I annuirepon that NPPI) n in an enk uble Nus Ic.n Regulatory Conumwion on ib Sp- lacihty. I nosihon uimpared to unimo m other ar a, ten ut n Aucunient ol l acen see Pert on nance in ihne tiinn of economic mn enamly of the (ountn . We h.n c clhclent. h m -t ost pn lM HHm 'al camed lhe luph- iuul HHeflutumal tulinod, uhhhn Imnt not penesahny urub m place, and om resouico nuanny powible hom the hntuuteol Nut lear rely on any single rencrating iesource. We in sull pun nie lot our cuqomen' nteds wcll P""et ( >pciahont Ncht.nka has e do cloped a s ery econonuc.d mio the ne st (entun . (in the fond side. Ucrahl Gentleman and wcil balanced enetry supply spiem. 1)uring lu90 w'e w ere able to wli ncaih Stahon wt a pencrahng inont for the year Nebraska Pubin Power I)nuict w 11 woik , and c nned the (hn ernm's liusincu
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all of out en ess. pennannp cap.u ny. lhese hani to panect ihn state's s aluable pmer saln contnbuted ucmin anth to our huan. Adneuunent Autud (hn other coal funl wpply innhue of coah nuclear aval bydro ual suaew. Other lachus uiduded lucher plant. Shddon Station, nLuntained an cv cla tut tesounct h n a pmniulicspinst than anta ipated saln ioour hn mequoem'enb 'C H C h' 'aPa'H) f actor duough wsend bihty we u di noi shuk. pl.mned m.untenance outapes. A Inbute to all our einphnees ath! a , /, ctnht to the organiNnon was a hnt place j
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saf et) aw istd w e in ch al h oIn the Amenc in l'uhhC Eow er Awt A M1uin We unihl lnd l{ppajd W M a{Mpq h.ne anomphshed thn actumement w nh. Pn-&m and Chet F u ume()mcet out the cons erted eIlon of all our employ ces I
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. Many ycarsagothepeopleof Nebraska flat but prow my emnomy in the state dming g i '" decided to lvcome an all public power state IW1 imd IW2. Ascrape annual emplo)-
so they wuld hase a duett unce ir an iwuc ment should continue to grow. aint total
, . . that h so utal to the emnonne heni h of thn w apes and salaries are c quted to increase.
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. state. The lloard of Ikevion o NPPI) k Thk state k m an ewellent pwnion to am n-,edn_.em,un. we hm
. % . &md b, the Propic ena ,mmune paa.
l4,h, sute of the people. it a thk luly 's obligation abuixta.n low owt ceery), amt Nebraskans iff, .l. . . ' to erwure a reliable, low sost supply of are renowned for their tremendous w oil
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., g electnut) to the state, and we take thn ethic lhen winle inuch of the nation h tespmdtuht) with prcat scuousnew. esperiencmp a rnesdon, we recogni/c that
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'%, All of the major mdustries of the state, companies of ten re es aluate their cost structures and tk a competithe pwilions
; . t - intladmp apoculture and manutAturing, must base a low-cost source of electric en- dunnp suth times and that tv-esaluation eipy to remain mmpetith e in today 's w orld may ux lude the question ol w here they should f . wonem3m a,e p,eea ~iemd m a be uma in erdene im mm, mnehe.
pmition ihat plays smh a Ley role in We were pleased w ith a repn1in" Site Nrbraskai prosperity. Selection" maynme w hit h show ed tha.t on a We behese that a start has been made per capita basis Nebraska ranked fint among with the liush Adminhtration's National the stales in new and espandmp manuf actur-lLoef p) Stralep) um eiled to fonprew early iny plants during the 14M 1990 period, thk y ear. We are hopetut that it w ill result in Therefore,this lloard tvhews that therc con-streamhning pnwedures for expandon of tinues to le real opportunities f or Nebraska nuticar enerp). I:lectric energy lucis our toattract 4ubstantialeconomit growth NPPI) nanon, and this ccuntry must not be held has a 30-> cal hntory of promoting the eco-capt n e by dejendence solely on losdl f uelt nomic des clopment of this state. We pledge We m e opt im ht it ihat the nut lear option w ill ta contmue to suppor1 our state % adminktra-bemme more acteptable as a contributor to tion in continuir/ economic desclopment our country's emnonne well-tring. unlew actn itses and unhl better sources of electric enerp) lt is w ith miwd emotion that i le,n e this in ome as adable. We are also hopeful that floard alter sen ing f or 12 y ears. I am proud pnwedures for rel cendng hydnvlectric ta- of therolethisuuhty hasplayedasaleaderin cihnes willinome less encumbered. the state and nation. I am confident that we We h.n e made the statement that NPPI) ha e recruited and dewtoped capable man-n in an enuable pwihon compared to other apement Irrsonnel who will continue to utdinct We not only hase sutficient re- maintain this leadenhip pwition. Also. I am sources to supply our customers' enetp> proud of the tact that, esen though the indi-needs but are also apprewhel) marketing sidual memlers of the lloard me elected, the 1)ntricti surplus penerating capauty. there base tren no decidons dictated by Tinwtuation k pond not only Ior NPPI). but partisan pohnct The people of the state has e for all Nebiastans as u umtributes signiti. come first alaa)s. cantly lo the economic health of thh state and
; heljwkcepcostsdow nlon.llof ont customert '
e We are optimhtic that the cunent na-nonai rewsdon wdi hm oniy a moaesi
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Q d .g~ ,, w m ellect on the Nebraska economy. Much of ; ,, j t m m , our industry h related to the agriculune and (p hul procewing sectors w hich traduionally 1are much better than other induurial sectors during recewionary geriodt P:ojections by the limem of fludnew Research at the l'ni-wnity of Nebraska anticipate a relatkely 4
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.N e A liusinewnm York j Sened Since January 1979 Wa3 ne 1:. Iloy d Daild I .. Duren Ralph 1:. Ilolifeter Attorney CPA/itanker Agnbusiriew/l:anner i South Sious City L olumbus l'aston Sened Since March 1982 Sen ed Sins e jant.ary 14.'73 Sen ed Since January 14NI Warren R. Cook liruce W. Gustalbn Italph II. Johnson liusinessma i 1 anner/ Rancher lxonomist i
Norfolk !!oldrere 1.incoln , Sened Since January 1987 Sened Since January 1983 Sened Since January 1985 Guen 31. Cooper l' red A. lierrington Thomas O. %11chels l 1lome 1.cononust/f lomem.iker liosinewman l'rol'ewional lingineer llevince 1.incoln Kearney - Sened Since August 10SK Sened Since January 1979 Sened Since January 1983 J l d.- s . h John D. llamiltmi Railroad Emplo)ce l.incoln Seated January 1991 5 Succeeding I red A. Ilerrington l
VICEPRESIDENTS'YEARINPEVtE - n we scranio sch insure a i.upe pon,on mohde poie,atois ana ahem,ne tenis noe.
.%, ,' ' (St th'l Illstf h th w(Hkets . otilpen%llh Hl.
shif e ser s h c hiall t Listonlei s w ithin l 2 hltut s a u ne,an, u ,o a,a aun,b.ashiy msmante dusmy the yc.u We pngett tlus plan uill annua ab hno wp.uwa sudun s,s dar
~lonudowrud ap u,un May alesuoy-au emit f or annual sio ings ot $s325 W mp laut talkkel sttuelurcuupix H ung doch,e
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1he iluins s r ien n n,<ai on x niop t oc.ni 3as tv ime< Tius ome a o.no acmr O resenues for ihe year were WM3 nulhon, was needed to re}uit the ime behue the F and toul opei unip espt nses wete %3ht.7 unumer peak loadt 1 t'
.! nuthon. K dow a't hout sales were down 1w ke donny June .mothet serin of I
OM cotop.ued to the pies ious y cat. toin hlos swept through ibe state, dow nitip
. Utound w as broken f oi a new two- 49 situt twes on nine traasnusdon kne.
I story, 67.0n0 squ.uc het adihtion to the Ihne stonns caused approtonately (ienetal()thee hmhhny, w hk h w di intlude $2.7 mdlion in danupes; but smte sucral
, a turdened tor nailo- reustant set hon to house uiunun were dechoed disaster arca% the out t omputet tas ihhes. ( kcupant y is u heil. Ibuict retcised appiosinutely 5750.onuin uled tot cady 1492. dnastei tchet payinentt ihh il l _ Gann t, The Ibtoct was one of snen inajot uhhues to upo of hcial dot uments enabbnp Re hc Am i 1 ;m ut u , m oa the construchoti of a tuaior interconnet ting 7 ggMglj trammisuon hue. ihe Mnsouri lowa Ne-W hraska ~ltansmissuto (MIN I ) Protect m-()ut ahility to hold the line on eates s oh es hulldilly a 10b-lnlle. 34b kh' hne wnhnned to be an encouragmp aqvs t of our a hctweco out Coopet Nut lear Stahon and St.
hnant ial t otidttioli(lutilip l*3ll, Josepil. Mnsouri. Wliciitoriipleted in 109', I or the thud wnset uuse year, there al the 1 tie will interconneti ses en utthties and w as no iih tcase in the lusic t rtail lates es en '4 will implos e teliabihty and e spanti the mar-though w e uh teaseil paunents to om ihstn. ket f or Midwest electricav in the Midsouth. hullon le.he unlith lpalilles h) 2'i lot 1900, 4 s M.uiutactunny and proerssing indus-llie hbt haNh wlail rate bhicase wih in inn t oillllhied uptid idilll prow lh in olli set's - Man h loss. ahhough theic lus been some we aica dunny 1990.1)uring the ihree-; car nunor flutluanon m the Pnduction Cost penod hom 195S-1940, Nebraska led the Adju linciit f actot on iales nation in tiew plants and espandons pet one luuc wlHile%dc rates were d.cicased iiillhon popllbltHHl. 1)urilip 1990, the state 2 % etlesin e July 1,1000.and are cunently w as thini among the states m new plants and lowet than rates m ellest hom los 1.loso expandons per one nullion population.
% dham L Meri d. l. A long-ranpc lorecast u as completed A new w holesale rate settmp method A ' i.o +!mt i p i .m. e during the pasi ) cat whkh piojects annual ology pioposal was deseloped duimp the scar by a wnumuce of customets and Ib. denund pionth at I.6% and encipy pionth int t uatt and pinented in all wholesale 1u90 was a Scar of eureme tonudo at 2.0% oser the next 10 years customeis f oi theit in icw and wnunents oa unences w hh h 4 aused w idespicad d un-A sepaiate Nos leat 1)ccomuniwiomnp are to ttansnussion hues. As cally as Man h, liust 1 und was estabbshed woh an ouldde a stonn sptem spawned toet 20 tonudos trustee, and its purtwse is to septegate de- whk h took out nine separate transmisuon t oinmlWonilip hiiids llom othel i bliict as- line% ses er;d snbtraihiniwion lines and des -
set ( The lbtucti wntuhution to the l'und astated one conunumty. (lor etews used w as M.4 million. 6
I I i . 1 i w nmn - satepuank.ictisiots ana niepory :nwans -
"pt'rltinnalls c 8.il nus lear sately of salepuards 4,, actn :Ites n ptkid '
; Station lvnennelakocamulthe Doard ', ,-
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[Q of threcton Gold Salety Awardlot wotLmp ','a'
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j , Plant operatio n went es ta mely welb .' , ' " ' ,, l. . . -
~lhe annual retut hop and maintenance out.
3 / , l .]? arc was the shortest in recent hhtory, and , ,- ,
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2 tht te w as only one forced outare during the - I
's car.
Cocper Station's prow pencration was 5.3 bilhon Lilowatt-houn dunny the 3 car. { Our largest eencratine plant, the coal, e hred Gerald (ientlent.ul Station, had an eb l li h r ., iso p cellent eitrating Scar cwept for the fall ca p g, g, j maintenance outage on l'mt 1. That outare r, ,j(3 m.; I nearly douh! d from its planned length and l estended past the end of UMI due la dilh- ! l'M) was an esentlui Scar both in culty in obt.unmp nc(cuary repain for the The Datnci's General Counsel has nutlear and towd pasluction. pencrator-rotor. peneral t harpe and supen hion of the legal l l Our Cooper Notlear Station athwsed Gemleman Station's prow peneration af f ain of the Dntrict. Ihe olhce prosecutes ! the highest ranny an arded by d.e Institute of was 5.4 bilhon Lilowatt-hours m PML and defends actions and legal pnweedmps i I Nuclear Power OperahonulNPOL h h the Our co.d f ned Sheldon Station penet- that athe in the course of the conduct of' the f unt nuclear facihty operated by a pubhc atcd 1.1 bdhon Ldow att-houM ptoss)during I)istrict's at!'ain. The General Counsel acts rm e, dn,ncOe -08c ,ep ,aomg. ,he3 m.anawea,ep,eedennen&i,pu,s a m p. dam he,,ed Dh,c .ac,mp,h,oern The nuslear plant aho carned high m ot.c pow er supply . Wh ncations continue the lioard of Ditettors, the of Occrs, Presi-m,ukson us 15 month"reportcan!"homthe to iv made to Sheldon Station to allow it to dent and staf f. by identity my legal thks and Nuslear Regulatory Commiwion tNRC), operate rehald) w hile buniing a lower lil U potential legal thLs and causing an uware-imprm iap f rorn the last repoit. The S3 stem- coal it was not designed to burn. One eo new among personnel of'sigmlicant legal ane Awessment of IJcernee Perlonnance ample of thh redeugmnp h the new inte- iwues. IS Al.19 es aluated management and olrra. prated s3 stem that was completed daring tion of Cooper Station from April 16,1989, l'M L to July 15.19(% and pase Car epory I and 2 ratings for all areas. Categor) i Indleates "elliphash on su-perior letionnance ol' nuclear safety and l l i l 7 i i_.____._~._.-..__-----_.-.------.-~---_---_-._
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. .A 3ESPOF GBU!LPTVTOCUSTOMEMS 1
i l l 1990 was a succruful 3rar. We Welistentoonrcustomersintentl3 to I m. untamed our custo.ner b.nc alwl wared .
,, . dncun pertincnt utility inue% and bi-long4cnn wutrash. Sinse the cifon to ac- .
.. ,- '- monthly meetings are held w ith a w holesale quire new wnuach with esisting w holesaic .. , ,.
; customeri comnnnec selected by all the
( ustome". bepan n iWS. thue has e been s . t . . w holesale customen. In addition to wn ices agreements s.pned with 40 mumcipalitieg - the wholesale customers' committer tvpan and .m of these agreemenh are for a tenn of , puhume a new wholesale rate philosophy l M ) ears. 'lhlee others are f or lO) ear % atld . w hich. if finah/ed,is e ynected to nupros e the one oti rr n for the Scan, g cificiency of themerailsptemload factor by Twenty 4is of the wholesale power ; establkinnp ddlering winter and summer supply contrasts became citectise dunny rates 'lhis philosophy reflech the high sum-FrK), and ibree ethen w ere apprm ed dunny - mer loadwn the spiem due to irtipation and PrMi to bewme ellectne January 1. lW1. ' air-conditioning, in contr ast to u inter, spring One of the contracts signed was with the - and fail loath. municipahty of inlpepole, whhh has an-
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I)unny the summer of 19tM),w e w an ed other piwer suppher; and that contract will demand charge on 73.34 of the onivak not be ettectne unnl Ostoher IW3. or on 7 hourt 'this allowed w holesale customers to tennination or assipulinent of the existing .
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provide nR4e enerp) lo their customen. afkl wntract whicheser wmes first. :~ . J.) 4 .D { ' g.1 additional flexibilin in their load motrol Also wmpleted during FFMI was the setning of a retad contrast wah the city of f }, , ' . ' IE]G h4 3 M ' pmprann, w ithout incurring additional cost. Norf olk, w his h means that all 201 cuies and 3.f r {Qe%g c,
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- The demand waner program is available to wholesale wstomers uith load controf uhapes wned ai retait renewed their wn. < .- . - - -
pn,prann.
- tracts Norfolk is the largest retail city we ,; ,," I)emand w ais er is a means of w an ing w n e. _ panicipaiingcusmmen houd3demanash,r Apptoumately 779 of ourencrpy sales bilknp purpo es w hen the total system loads n to w holesde customen whde 234 n to are not at or near peak les ch and there are no retad customers Our transmksion sptem operatmp constrainh on the system.
I delken electneity to an estimated 760. Ole l'or man 3y years we base pnwided a We continue to supply low-ctni scro l Nebraskant I)uring the y ear w e paid urious wide array of unhty senices to wholesale ice with electric rates that are well below Nebraska pmclamental enuties $16.3 mil. and retail customers mehnhng such sen ices ec Minnalinerge. h wem reduced hon in lease paymenh, prou resenue pay- in emnomic and ateti deselopment a""' during BrX) bec;nne energy sales in 1989 , menh, and in heu of tas paymenh as re. tance, pubhcanon of, we qvciGe mdustnal were preater than budpeted. We were not l quired under wntract and by law, lach N'oks power ana yses encrpy man- only able to meet the requiremenh of cus-Success in maintainmp the strong cus agement and encrp) conservation seniceN tonien in the state, but we w ere aho able to tomer base can be attnbuted primarily to enetpy aikhh and load calculations electne wH esccw capac ty to out-of state utihties continuing emphasis on customer senice heat incentis e programs, PC it od samphop. 1)Mo s@e@n amicipatedw* for and stable ratet pres entain e m.nntenance and customer and Nel and Nel wbted mh ihes dudng UFX), Ahhough w e are a statew ide netw mk in energy education auistance. I)aring UFM) duw win a de0 cit M k Pmduction Cost a totally pubhc power state, there esish a we dedicated oursches to pursuing other Adjustment (PCA) Account at theendof the comlvtith e enuronment that makes wn ice related sen ices that are of interest toctntom-ers Such things as electncal maintenance Mr w hich will mit in an inewine W eb - I a sital knk in maintaining our broad cuw n e biUinp 61991. tomer base. for city equipment, central stores suplert, lh en with that slicht increase in clee. There is a wide range of unkt) equip. an4corntruction sen-ices requiring special nic NWem A Wimh of UF)l, Anic ment, stationed at strategic locations u hich eqtupment am among senices our custom- cmh br Nuh w holch aM retad cmmon n h capable of responding to senice callu Ch wok-wem less than in F#89 terardleu of the dNnter. We hase also i instaHed toll-f rec 800 numbers m key loca-l tions for the use of outage or wnice calb j f rom either retail or w holesale customen. 9
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A C G. E. F 1 . ' - CoELITY YOTHEEUVERONMENT i l _ _ ,4, w,:b
, .- rreumnal delerat uin arni othe n to amoul an inanct nLuJs to pnnide penn. ment leasi c t 4 W;i carhet s etsiom.f theI..ll; ,unt the Gnalicudt tern and pipmp pbn er habitat at .m apptosi.
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- hQ n etputable to Nchtaska. m.de uist of $12 niilhon. 1hese 4uds Am menacame um w,h ahow our
, d. q" = ]g p' ants to olvf ate ut a nonnal cap.icity. An-we,mdu, paul irRn unmi h nse wrkhtiorn As part of the einittmmental f; naal ennuion :dlowances thit required for s tih inyment ellott. w e h.n e g olunteered lo
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; g f' , i cun ent rencration can tv meti m iuture y cars or soki to other nuhnes construs i t w o esionment:d oll stream habi.
i q tal i land, which nun pime to be a tuote p M - j Ctihties that are unable to budd new cost-ellectne tneans of prm idmp habitat.
- p( ], planh of remodel oki plink w illun the Clean ai,adrim anemmanmeimmemaynma 1 jneudcommumcamin h.n e tem.uned open w hn ,nay,, nae,nt gn,upandua,ny
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to purc hase pow er itom "t ican utihhet" We the Plane Rner Whooping Ctane Critical E arc in a p nition to supply some ni this pm er, liabnat Mamtenance 1ru .t, the U. S. Ihh L ! thereb) Leeping uists hm for out customets, [ and WikthR Sen ice and the Nebraska Game [ ' We contmue to actisely pursue the and Parks Cotumiwion as well as other en.
- i lonpaenn rehccmmy of our hydniclearic uronmental. irrigation and recreational in-N pmject and iclated impahon f acihues on the telests.
PI Af te Ris er m u ntern and cena al Nebtaska. We runsider it scry imporiant Ihat
- - * "> 4 negotiations lead to a mrau solu-1he Cenu erao Pubhc Power el Irnr.nion i)ntrict ow m a separate but related lion." Such a solution mus.t comkler inipa.
Indroeledne pmject, and the Iwo I)ntrich tion threatened and endangerni spe :in and I'miromnental iwun tuntinue to bled joint appik ations u nh the lie deral lin. other w ikthic habitat. hy dro penention ; nut play important ruin in utility detidon err) Regulatory Commnsion (II RC) for rencation. A compromise solunon would making, lhe em nonment uniin pf esen a_ hsense tenewat in 1%1 s.ne all gurtin rondderable dollars com. tion has been identined as an "iwuc of the The Projech mdude more than 150 pared to inipatmp our dillerentes and may I W sJ l m ironmental t are and presen a. mdn of supply canali, and sn etal lakes and proude ll.RC with omditiom on u hich to tion. and mdced enhancement, is a senous resece that pimide water f rom the Nonh hsue new long-term hvense% topomibihi) that u e au ept on a d.nly basn and South Platte R h ers f or recreation, w iht. The two I)ntricts hase completed in. tinoughout Nebraska hfe habitat. conhng water hit two towd. depth em ironmental and operanonal stud-l he new I ederal(' lean An lepidation, blebd pencraling planl% w aler' lor irtlpation, hen and donny IN,llMC held a selin ol clhnh to acqune new long tenn ik ensn f or and h)droelectne peneration. Since de 50 puhhc hearings in the Project area to gather om by da rlecint and related unpanon pn gect year hcenses opued in IW7. the Projech input lot an Imimomental impact State. Itoln the i Vdetal linef p) Nepulatory Coln. has e Iven o[vGiled tin antugal hccine% nient nmsmn.and the samp and comtruction of a liarly m the Scar we released 77,lM 1here ttmamu omiderable tont ern m low In cl rathoadis e w aste dnposal taala) aue-leet of uater hom 1. ale %Conauphy the state m er the selet uon ot a site in nonhern m Nebtaska w cic among the mart em non to meet mterim minimum flow requnemenh Net rnkatiloy dCounty itor thewnstruction mental asun m w lut h w e had t onsidetable f or w ihlble dow nstream. Il RC of dered the of a low inel rathoacthe waste thspaal nuernt dming l99n. releasn as parl ot ih annu.d hccme condiuons faciht). 1 hat location was chmen b) Congrew,in enacting the Clean Air but indelnutely stayed the onlet whcn it inemben of the lis catate Central Intentate At t, rcoignited that ou r plants arc among lvcame apparent that we wouhl run out of Compact Comminion. the deannt in the country, lhus, the new water tot our surtace iropation omtomers ILning nuclear experience with the Clean Air Act udl hase knuted unpad on We bonow ed w ater imm the Central l)isn ict oltration ol a nudcar plant, w e at e confident out operatiom unot well into the nnt ten. to supplement out 125jimaue feet of stor. that sus h a laalii) can be buih to potect the lur), lhe Act u dl ntahlnh llew (outrols are w ater to nice! Irnpation demantis. Cn. salety of the state's citirein and maintain the based on an allow ance sy stem that considen lottunately, the third year of a drought in emironmentalintegrity of the atea. hhtoncal enussions in onter to reduce con, mn h of the area including Coloiado, Wy o. 'lhe Nebraska 1)epartment of I'mi-taminank released to the atmosphete, nung and Montana h.n reduced inflow s into ronmental Control b sheduled to rule in Smte out two m.qos wal lired planh, l .ake McConauph),ihm depletmp the m ad. 149I on the ik ense apphcation to construct the 13m mepw att Getahl Gentlemen $ta. able storage watet to sainly the competmp the f acility.and there is one thing we car. tv tion and the 225-mcpaw att hhchion $tanon, needs on the rh et. sure ol-the iwue w dl wntinue to be de bated. already are buining hm-sullut untem coal and olvrating at w ell below wnent enmsion i1
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eated and trained people that make the year. Intohne h a dady telephone senice or resene a conf eictice n nun on the ni.un-1)htrict what it is Imlay. 'lopether, out w hert by employ ees tan as ccw a pxtecohled tram. computer udog one of two otike n nwion o tounphasve sen h e liu mtomers vauimary of major actnities imching the auhimation pogrann slut allow elettionic alid IDjhinse lo the pubhc in an citorl 181 I)htrit t of utlIltft s in pifit ral. (In a ltloisthl) colninnlbeatlof t. t )f,8!!n 1) be ib tfn eb ed as ilhnnt. tin a Kl es("I ellhancC out c*ll.!)'s nm hash wlillen Munillatic' of board ol bitet- colbtruilllip new laillllies to albm for th!
.ipe alnong Nebiaskant ton' inectings are wnt to utlhes afkt f acih- ofdelly espansion of our operatiom. Wtuk in ashht nin to h.uned prolewionah, w e ties actoss out s ast sen is e atea so w e w di all proprewed ia risl~acionly during the ycar on has c a w ide range ol cqWpinefit stralepit all) be aw afe of lYnitleill board actiofL torblrucllon of all ihhillion to out (ienetal la aled atound the state to pro. ede sen icc on A sariety of ethseational prograrm Otthe lunhhnp and site wiectnin for a irw Nhorl floth t*, da) or Inght. bel lW tis linprose our lleidtb atld illneW s) stem conliol cenler.
I mphash n placed on trammg and 1(specully pleasmg h.nc heen the resulh ol l{ath year Mother Nature creates a salcty, and it h with preat pode that we the llat k Pow er Pmptamalesigned to t urtail 5 hallenge f oi many of us in the elet tric utihty uintinue to cu el m both of these catepones, the number and sesenty ol b.sk injunct buenest 'lottutlos, lugh wiinh, f ree/ing At our Cooper Nutlear Station, em- Another proptam that met u ith enthmiashc rain end snow can completely shut dow n an ploy ecs a ese presented the cm cted lloanloi respome was the lheteise Acmss Nebtaska elettrical system l)anny tbc year a sescie 1)acttors' Gohl Sately Award for working promotion m uluth we were 6 hallenged to see uorm hit llemingford, atul a tornado more than one milhon houn wit':out a diu nuaplete an esercise regimen intludmp abhng mjury between july ins 9 and August w alking, l.ath ol m deternuned our own d.mured SuttonN datnbution i.) stein. lie- r cause lwith conununitics are wholesale cuv L UM L At our York Operatiom Center and in lesel of im ohement f rom a list of optiont tomen. we responded inunediately to help the Nonhernliegmn.ptesentatiomof Sihet Interest in pmmoting and maintaimnp restore sen ice and stay ed around to clean up Salety Awards wete made durmy the ycat. pood health is Iw otohl When w e are healthy atter senice was redored. City personnel Also dunny IWO, we were presented the w e sas e money on health insurance cmts and f rom toth tonununitie . cited us for our Amentan Public Powet AwociationN hrst are more pnslucthe on the job. prompt response and professionalism, place 1:lectra Safety Aw and f oi safe operat- Another empham is on f acihties that Were these heroic ef fortd Probably my prac%es for public utihties with more help us to do our jobs more ellecth cly . 't hh not. lim h just what we do, and do wcit. than four nulhon worker-houn el esposure mas be as simple as the aluluy m send a Another indication of satisf action is in
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annually J 1m lonp lustory of sa'e w ork prac- length of senice statistics Mote than 1.W tices has resulicJ m cost sas ings to custom- of us bas e been w uh the Ibtrict 20 or mote ers. because of the good t Lam expeneixe p .,.~,n y ean contnbunny totheesperience required m et the past 10 3cars w e has e been chpible to run an cthaent utihty, tor a 50% docount on uorkers'sompema- Community Im nh ement (hicsn't go tion rates equalmp to an appmsimate annual unnoticed. Our Gentleman Station coal-sas ings ol W5.0Hil , l'ited plant was nominated by the nearby Safety thiesn't jto,t happen, h is a j i 3 conununity of Sutherland and w as presented omdition promulgated by our dedwation to the Nebraska GmernorN Achiesement (ontinual sale wotk piactices and our con 4 Award that recogni/es bu4nesses that con-ccm f oi one another. lif fecth e trammg and shtently pnn ide tchable sen ice, dein er su-repetitn e emphads help mamt.un our salet) penot pnwiucts.acate new jobs and contnb-edge. ute to the quahty o: hie in communities and t raininp rum the pamut irom routine the state. We w erc aho the recipient ol onc ol hne mamtenance and major outage condi- sis Prhate Sector hututhe Awards at the tions to licemed nuclear plant oper aton f acing 1000 Nebraska Gos ernot's Conf erente on attual plant situatiom on our control nom Aging. We w cre recogni/ed f or our partici-simulator. Nothitip b lett to t hance. pation in the Gatekeeper Prograin whah Communication h a key asi ett con-tributmp toemploy ee sathlaction. 't wo w ay (4 jppJ utih/es the customer contact trople w ho act as the " eyes and ears" of social senice communication h encouraged by our ' Talk j* agencies by hicating sulnerable elderly To 'the Top" program u hereby employces people m a community. T5{ c can soice conecrn or seek amwen to their T quesnom. Iwo new conununication teth-13
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i i s bNu F N e oN. u b Nk ou Nbe s i er bi ebVt p) (!ie f " (}Ot i Mi kIlteF SeNk hfm kcquitc* has been inu eh ed in analping and es alu. ated $7% fromuul24G f romnucleiu.179 ments hud was u ntno a lew megawath of oling the District's strengths and weak. f rom hph o.uxionly 2'., from hrpher wst and our all-tmie w inter p al demarnt. Ou: record neweC1he Study Group tonnulated temm 'ew m ailable sources sut h as ml and pas winter peak firm demand of 1.369 mega-
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m etall wmpchtn e position of out ory ant /a- equolel) barnlin our requirementL ist out- $.trangely enough, w 1990 winter peak of non. W th the inwhernent of the 5traicpic state connections, ue are members of the 1.361 rnera a atts ahocame on 1)ecember 20. Pl.uonng Committee of the lhiard ot Dnec- Mid-Conanent Area Power Pool (M APpt 'the highest summer finn Jemaral on the tots and scener nunagement. the Group w as in addition, w e are awociatetl u ith neig hbor . sptem in l'NO w a 1 UU tuerawatts in late
- aho t harged w nh tnak mp recommendainim ing unhan in the comtruchon of major July. 'lhe highest linn peak ner recorded for a strater) for the f uture. trammiwion accew to the south. known as was 1.743 megawatun July 14.19X8. i Key imdmes of a report arulaccompa- the Mwiuri lowa Nebraska 'irammission Internal preparation for the future j n)ing rnoillinend.illolb plnenled during linnel or MINT. of tentitties requaes innovaihe gilantdiip.
the > car desh w nh markennp surptm gener. 't he day of independent planning , During the year, we implemented a major ahnp capacity, desclopmg the marketmg dn elopment u nd use urindh id ual elect ric orpamentional deselopment program. We f uncoon to prm ide unptm ed and npanded spleem luone.1 rom the pencrating plant feel it is cwent mi that management personnel sermes and clanly mp the needs for f uture to the customer meters, uhklin hase f ound hae emerierne in a wide tanety of areas power supply resources. Generating plant / that jomt planning pays of t in maintaining arni the desclopment program will accom-i) stem orcrating ciliciene) anti the ranuli- low rain u hile impmung custorner sen ice plish that goal. More such interfacing h canons of the FNi Tas Act on tavnempt les ch. W e contmue lo promote and partici- opected as we keep pace with the f utme. hnanune were aho adJrewed in adiboon, pate m jont planning and joint use of the l ntabli shing a h s al p uni to manace strategic electric sys tem u ith other utihtin imide and planmnp iwoes w m reconunended. out ,ide the state. Cunently w e are im oh ed g y py,.y- .g,.y , - ,
'lhe study took a broaJ Atrategic look at m a lonnal propram w ith w holnale custom- fI' M
out orpam/ation. and the 33 recommenda- us m jomily plan. ou n and opetate 4, 1 tiom w di proude a blueponi lor f uture ac- subtransnuwion knet 'ihh succewf ul pm-th niet ll ahol.lys sofne of the ptUundwolk pram includes a long-lanpe stud) of thejoint needed for our strategic and busmeu plant s) stem to determine if and w hen adthhom .
- We are now in the pmcess of fonnulaung an are retputed to supply projected loads. g ,/}s l acnon plan to implement the reconunenda- We are a summer peaking utility prin- >
tion ( cipally due to pump inipation and air-condi-We hae a lot poing for u% and out tioning. lloweser we and our wholnale c (( f uture hioks ten die. We are a leader among cmtomers har been pioneers in etforts to ..l . [' , unkties in Nebraska, and we are increasing control summer loads and increase winter ]- , j.N our national sisibiht) as well Our power sales to imprme the metall sptem ef fi- ' 44 l supp!j snuation is the em y of many utiktin ciency. load management equipment is '
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1 in the country, used to teduce peak demand by conuolling a, l We _ , ,__ ,,, . ~,- _ mm__md < . -
x, , e'. nenh of not only our ow n customers but to users. r e make shon and long tenn sain of Onn or liecause of the surplus winter penerat. % gyg > p,Q 3,, nonnnn capacity and eneip) to utduin b nh ing eapacit) . w hen new electric heaung loads ": N 4,J w inhin and outside of the state's borders. We are added. the ti s ed capacity cash are shared M4 k . .W are aggrewh el) pursump thosc eptions u his h by more customers for the benefit of all. Our n . ,? - T/ ' u' 8a p m p ,a,e d _ ,o, _ ,e,.d me. a,p,- me nea, , pmm ee i mcoh s mtomers includo cash incenth e pay menn to w hole- f Our rates are estremely competitis e in sale end users an betail customers u ho in- *M- ' ^ L d'4 4 .. , s'l l,( bMC dei"iNMUS Mk / k the region and nationwide and we use a stall space heating and electric w ater heating ~
- b. danced mis of mailable and low-cmt fue! sptems During 19mk incenthe payments somces in fact, durmy 1990. we supphed totaled 51.5 million w ith additional new load of 35.527 kilowans. Rnenues generated w ill result in a pay back period for the incen.
th e pay menh of lew than two y cart 15
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Report ofIndependent Annuntants I I o the lh unl al I hiet tor s Nebraska Public l'imer lbfik t' ke b.H e .ntdeled lkle as L ollipany ing IMlallic sheets (It lliC !.!ctlllC b) stein 11l bebf Mba P, Hh Ptmel t h strict ta puhhc wtpitanon and pihtwal suhhs iuon of the State of Nebraskal as of IA nnyt 31. DFO and 10%4. and the rclated statements et resenues and e-qvnses and accumu latet nei les enues and sash thm s his cas h of the thf ee years m the perimi ended 1)esernbei 31. Itn t t hese finanu.d staternents ate the respomibihty of the 1)ntheti nianagernent ( lur f c* pin biht) is to cy1f ew an opimon on these finans tal staletDenh beed on out authis.
* % e wnJus ted our authts m ascordanic with generally accepted auditmg st.uidardt t hose standards requne that we plan and pettonn the audit to obt.nn reasonable assurante aboul uhether the huanual statemenb are tree ol tuatenalini statement. An audit inJudes esannmng on a test heis. es idens e suppirtmg the .unounb and thwlo ures in the nuancial staternents. An au;ht also Int hides assewine the .hcoutillity pilnciples used and ilpnificarit estituales ritade h) m.tflagettlefit, as u ell e es atuaung the userall Imancial statement presentahon. We twhes e that our auchts ,
ponidc a reconable basis lot out opirnon - ? Ihe finans ial st.demenh and supplernental w hedulo as 01 and f or the y eats ended lietem-her 31.14W and 109, hase been restated as descnhed in Note I. In our opnuon. the huanual statemenb ref erred to abos e paesent f.urly m elt matenal
- I respc6 b. the Iman, tal podtion of' the I'lestra Sy stem of Nebraska Pubhe l'oact t hstral e of
, lin emlvt 31. Dm and leu. and the resuhs ol ib operations and its cash flow s f or cas h of the three 3 ears m the penod ended I)ctember 31.1091, m motornuly with generally au erted i as counting puns ipies Our aud i c.,a made for the purpwe of tonning an opmion on the bash finar ial state-inenh taken e a w hole lhe supplement.d w hedules of the calculation of the debt senise ranos m acconlant e u oh the lletinc S) stem liond Resolunon f or e.hh of the three years m the penod ended llecelllher 31. (Wt aie presented tof' puiphes of inddlliollalilnal)' sis and are niit a retjulfed
. pJrt Ill the basli finalklal statemenb Nik h st;pp!cinental % hedules h.ls e lvell subjecletl to the audinnp praedures apphed in the aumb of -he bew Onancial stat ments and, m our oponon, are t.urly stated in all matenal respech m re: anon so the bauc tmanual statemenh taken e a w hole.
o , Coopers A la brand a d ( huaha. Nebreka , Starsh I 1041.
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4/ . ' ,.' - . ~ Il= lance Sheets r -'6 ( Decemidr 31,1990 and 19891 ' ' ' 4 A 4- g s' f w- k mt @ y 19W) 19119 i j ASSETS ithousands of flullaru j .y tI . '
- Utility Plant, at Cost,. . 5751,121 5718,672 @
1.ess-Resen e 1or depreciation and amortization (Note 1) . .._360 816 328.696 h 5390,305 5389,976 E .,, p" I)ebi Resene Account , , , , , , . 5 30,132- 5 30,186 L (g t,
,, Receivables %
Adscuce to Power Supply System (Note 3) . ,,5 6,1(K) 5 6,100 4 1i Sale of property , 7,016 824 l
' ' , * * ,, ,5 13,116 5 6,924 i yi Current Assets: {S
' .. $124,170
*' Cash and insestments (Note 1).. $120.351 9 4.
Receivables,less r: serves , 49,529 51,673 tsa
,. , tu g
Materials and supplies, at as erage cost . 9,661 9,984 y Prepay ments and other assets , , , 488 528 h 5183,848 5182,536 ,:y r p.
., Deterred Compensation Plan Assets (Note 5) , , , ,, ,, ",, i 1,563 5 11,250 g'; .
Deferred Charges: PG Nuclear Facility billings (Note 1), , . 5 16,737 5 22,891 s Unamortized fmancing costs , 1.593 I,767 [O Other .. .. ., 2,330 .(613 I
.,= 5 20,660 5 28,271 L 5649,624 $M9,143 v.
LIAlllLITIES AND CAPITAL, n. p t.s
- Accumulated Net Revenues, as restated (Note 1), ,, .,5216,853 -3207,030 m, ~
~ * :' {,
Long/lemi Debt (Note 2), , . 5295,312 5307A83 r0 Commercial Paper Notes (Note 3) . , _ 58,915 58,915 h Less-Current maturities (Note 2), ,
$354,227 12,744 5366,398 12,267 f.]
M
+ 5341,483 5354,131 h, y-Current Liabilities: !y
- W;e Current maturities . ,,5 12,744 5 12,267 [*'
Accounts payable , 16,373 18,243 [
, Accrued lease payments . , 6,819 5,616
<< Other.. , , .. 7,680 9,015 F 5 43.616 5 45.141 3 '
i
='.
Deferred Compensation Plan Liabilities tNote 5), ,.5 ! t ,563 5 11,250 h-m.,r.
. 5 34,902 5 30,203 /
-@,4i Delerred Resenue (Note 1),
s Unamortized Payment Receised for Refinancing Costs . .. $ 1,207 5 1,388 h 5649,624 SM9,143 +.i
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(_, A v y ,e ' Statement 6 of Revenues and thpenses L , -
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) , .1 and AccumulaW Net Revenues 1for each of the a preeYears in the -
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,j s 'l'erkui, Ended ligember 31.1990 . -
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3- , Resenues and thpenses:
- Operating Revenues, as restated (Note I ) .. . . , , , , ,, 9 79,283 5369,660 5376,M4 i r i i '> '
'(
Operating bper. .es: , Power purchawd- ' ^_ Nuclear Facility and Power Supply System (Note 1), , ,, ,,5223,622 5216,406 5218.617 ' .y' Other, , . , , .. . , ,, 33,551 33.880 46,718 : Pniduction- ( Fuel . . < , , 10,803 10.341 -11,571 p Operation and maintenance , , , ,, . 14,707 14.208 11,500 k Other operation and maintenance . , , ,, ,, 35,775 38,619 35,057 s lease payments (Note I) , ,. , ,, . , 12,657- 10,363 9,465 t/ y Depreciaiinn and amortization (Note 1) , , ,, , 25,555 24,424 22,931 ;. ( , t0 . Pevments in lieu of tases . . . 4.984 4.941 4,800 *'J L L ' ~ Total o[,cr'iting espe,bes , , , , , , ,, ,,5361,654 5353,182 5361,159 Net operating resenues , , , ,, , , ,,5 17.629 5 16,478 5 15,682 .
. .1 1 '
interest and Other Resenues: Allowance for lunds used during construction . ,, 5 495 5 591 5 558
, Interest a .d other , ,, 12,903 13,855 12,77i e C
'I otal interest and other res enues , , , .,5 13,898- 5 14,446 5 13,329 p ,
Net res enues before other deductions . , , , ,,5 31,527- 5 30,924 5 29,011 6 V , Other Deductions: g Hond interest. . , ,,5 18,693 5 19,305 5 19,877 L D. 9
, ( Other interest . .
3,011 3,206 2,427 [ , Total other deductions , , , , , . 5 21,7(4 5 22,511 5 22,8(M
+: . ,
d4 Net Resenues, as restated (Note 1)., , , ,,, , . , , ,,5 9,823 5 8,413 $ 6,207 e (,,. < Accumulated Net Revenues, at restated (Note 1): [ .. Beginning balance . ,, ,, 207,030 198.617 192,410 ['>( Ending balance . , ,,5216,853 5207.030 5198,617
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Nebraska Public Power District - ELECTRIC SYSTEM - Statements of Cash flows for . cach of the Three Years in the I'eriod Ended December 31,1990 " 4 ,. 4 4 im im i m_ fl houwnds of lbHaro Cash llow s prm ided by (used in) operating actis ities: h' Net res enues, as restated (Note I) . ..$ 9.823 5 8,413 5 6.207 Adjustments to reconcile net income to
, net cash prosided by operating activities:
Depreciation and amortitation . 25,555 24.424 22,931 . r Depreciation charged to onerations . 842 825 982 Amortization of deferred charges.
+ Nuclear Facihty . 20,300 12,287 13,100 Changes in current and deferred items Receis ables, less resen es . 2,969 (5.975) (l0,798)
Materials and supplies . 323 (567) 902 l' repay ments and other anets , 40 (59) 87 Addition to deferred charpes-Nuclear I acility (14,146) (4,107) (4,358) Other deterred charges . 1,457 1,893 (l.054) Accounts payable and Accrued Lease Payments . (667) (I,923) 1,182 , Defened res enue . 4,699 19,475 5,309 Other liabilities . ( l,401 l 3,5tM) 208 ' Net cash flows prmided by operating actisities . . 5 49,794 5 53,276 5 29,698 Cash flows prosided by tused in)imesting acthities: Utility plant additions . . 5(35,201) 5(33.303) 5 t 15,680) ' Proceeds from sale of property , 1,458 1,9 M - Net change in Debt Resene Account . 54 30 711 Sale of im estment securities . . . 320,926 I88,705 226fi . ' l'urchase of im estment securities . ..(331,6521 1194.677) (213.830) Net cash flows used in investing actisities . . 5j44.415) 5t 37.281 ) 5 (2.002) Cash flow s pros ided by (used in) financing actis ities: E Repayment of long-tenn debt.. . 5(12,286) 5(l1,479) 5(10.8MH Repay ment of notes payable . - (517) (2.220) Net cash flows used in financing actisities. . 5(12.286) 5ti1,9961 5 t 13,110 Net increase (decrease) in cash . ..$ (6.407) 5 3,999 5 14.586 s. Cash beginning of year . 36,919 32,920 18.334 Cash end of year. . 5 30.012 5 36,919 g.920 4 Supplemental Schedule of Non-Cash Imesting Actisities: The Electric System wid property and rect sni:ed a ret rivable qf approximately 57 million in 1990 1hc aavminmung notcr to fmam ta' aatemenn art an onceral stri i of thew statements
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;,7: gg,ht Service Ratim in accordance wkh the : ~ J[- -~ % <
- M . Electric Systeni Ilond Mesoluthm Icc each? -
4 , .4 of the npe,%rsin the Period Ended? (
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Ja .g ed 3 i 1990 19x4 lenn flhousandsof Donaru Operating revenues, as restated (Note I) . 5379,283 5369,660 5376,84i i
.f .. , . . , , .
E;. i~ ,i Operating extrnses (Note 1)t , , ..... 361,654 353,182 361,159 o Net operating revenues . . ., ,. .
$ 17,629 5 16,478 5 15,682 i.
interest and other revenues , , , ., ,, , , . 13,898 14.446 13,329 if 4
,+
interest deductionw... ,,, ,, .. , , 21,7(4 22,5l1 22,804 Net revenues ivr financial statements . ... , , , , 5 9,823 5 8,413 , 5 6,207 4
~
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!)eferred revenues escluded from e operating rnenues (Note 1) ., . . . 5 4.699 $ 19,475 $ 5,309 ..l*
~*
P Interest deductions . .. . 21,7N 22,511 22,8N Depreciation and amortiration ,, , , 26,397 25,249 23,913 5 52,800 $ 67.235 5 52,026 Deduct: ' l'rovision for operating expense resene (Note 1)U 5 4,699 5 19,475 5 5,309 Allow ance for funds used during construction . . . , , 995 591 558 3,863 (
, Im estment income retained in construction funds , ,
3,637 3,736 59,3_3_1 5 23,802 5 9,730 , k 6 Net rnenues availaNe for debt senice ,' under the Electric Sy stem liond Resolution, 5 53,292 5 51,846 5 48,503 J as restated (Note 1)t _.
\. -
*tI Amounts delusited in the Electric System Debt Service Account N
Princip.d . . . . , , , , 5 11,767 $11,160 5 10,595 Interest , , , . . 18,693 19,305 19,877 5 30,460 5 30,465 5 30,472 x I' g Ratio of net revenues available for debt service gy g to debt service deposits, as restated (Note 1) . 1.75 1,70 m w.
- _.- ..= __1.59 .
y 1* p~ ,
- The amorn: anon of Jeterred < harxn is meheJed m these swnmary statemenn as Operanng 1:spenan to awnJ overstatmx Net Rnenun &
, .I Thne deferred < harses w ere JweJed by Commen ial Paper Notn and other manered short term indebtedness. u hu-h corunture subords-
?l_ natrJ mJebtednen under the IJet trk Sntem fiond Roolutwn The I:lectric Rovhawn respurres subordmated undebtednen to be paid ;'
,,}?
n. from the General Rners e Fund created wuler the 1:lectric Roohawn. $ i. 1 o *
- The I:learne knohaton Jefinn Operatmx larann to int lude payments into rnerves in the Operatin.g FtmJlm the payment offoaure p operarme opernes The prmiswn for opnateng n;use roers e un this ratats nent of Supplemental Sct.edules,for ea< h of the years 19M.
1989 and 1940. reps escuas the net chanec rn the a1 + umula is e surplu s revenues in each respecnve year from both n holnale and u etail QJ I,I e - su vicr =
- 1he uecompsm>mg notes sofinam ial statements are an integralpart of thne statements. p.
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*- El,ECTRIC SYSTEM - ,
t .
' Notes to Financiantatemehts : s t 11 St SlSt ARY Of SKNIICANT ACCOl'N1ING Pt11 IClia I; l' nam",terd / mam mg Cmir j; A ( h ea,a anon -. Ik'e cosk reprewnt swuance esiwnses on uH honds and the
't he lbin t has thtee wparate da nions for accounimp purpwes prenuum to reure the Ntnc h wni Wsenue HonA M Senes g poor to their matunty dae tual are hemg amonued met the hfe of the I.lecinc Sptem 'E#d " # h"" """E U* h"" ""h'd"d'"E *# "d , ++
Power Supply Sptem I . l'namorts:cd Pasmera kn ened for Relmam in Cmu- 5 ' Nut leat I aciht) 'Ihn reimburwment from the Nutlear l'.tht) was lor tenain As regimed in llond Resohitnms wparate rct orth an sc.amtamed ' # I*""#
- E ' "'h "' # #"' b 'km uned n and Mring i e for each dn nion' The 1.letinc Sutem fbincra! statemenh en lude .unoni/ed oser me Me of me N Res enue Hond swue usung dr the Nwlear iacda) and Power Supply Fem. for whkh imanttal n s oubtamhng nda
(- statemt nh are pre ented separatel) herem. lhe I:lectqc System R Cad wallio romento - 4 fmancial statemenh should be read m tonjunruon w nh such other lycemler 31,
# fmanual statenrnit 19w 1989 Nebraska Puhlk hmer 1)nin,I n an eltstrk utiht) whk-h sell' 4 i housands of Dollarsi '*: , , electrh encry) to w holesale and ietad s ustomen m the nudwest 'Ihe ,
- lbtnct% ontracts and rale scheduleupn it y the ur r penod in wint h knenue i und . mi 17.440 % ik.477 bdhngs are to be p.nd af ter sen k es are rendered Operatmg l und.. 12,149 1(012 H l&po rt unwn. Mu tanwn smd %wurmms c- Construenon I unds 2.9%2 47 183 *
(,enunercial Paper Account . .u. 67., 16. l t L, lhe Ibtnct reconh depecianon mer the eshmated uselui hfe of. the propens. Ikprecianon on t'uhty Plant was appr.mmately 3.09 ikbt Sen he Atcount . I2 Rewn e and (,ontingene) 1-und .. I .,,37 l ..yTh m e.u h of thi: yean 1%i lW), and 192. t ieneral Rewn e I .und. 67 4n ) 19.151 .*
.lhe Ibinct has long tenu lease agreemenh with approumately
--gg
+
g ,gg Jin mumupahhes 'Ihese lease agreemenh ohhgate the Dntnct to - - - - make leaw pay mems and pas tor nonnal prolyn) adshtiorn dunny the
~
+
tenn ot the leaw .t he lbinct has ret orded prm hions tor amouvahon l umh cone of $41.2 milhon of msestment wt uttues and of leav plant adshuons of $5.3 milhon m l*m $4 4 nullion m IWA WO nnthon of cash depmh at Decemtvr 31,14% and %3 5 md-and t 19 nulhon m lun These leased plant a.hhuons w hk h are fully hon of. msestment wcunt es and 5% 9 nulhon of cash deposih at 4. . sesen ed, totaled 557.7 nulhon at lkt ember 31,1940, and $51.0 nul- December 31, 1989 l.he canung ulue of msestment wcunties ' hon at thember 31, !989. approumates market. Cash deposib, pumanly mterest tranmn at Det ember 31,19'u T. he Dninch harges mamtenant e and repairs, ms ludmg the cmt of ' tenew ak and replat eme nh ol mmoi ttems ol properh , to mamienant e and throughout much of. the ) car, w cre cm ered b) tederal depositon e s penw at t ounit Renewah and replatemenh of propedy tesclusne mwance or umegniered U.S. Gmernmera and mumcipal secunties hdd by 5.u ious dermitones im esimenh at Deceinber 31, lu'% w ere of.mmor items of. propen), as set lonh ahm e) are charged to unht)
.. plant accoumt Upm reurement of propens subject to depeuanon, m umepatered U S G,mernment weunties and I ederal Agency ohh.
gatiom heht m the Dntnci s name by the custothal banks. , the tost of propert) is rema ed f rom the plant acuunk and charyed to the resene for deprenahon. along wnh the remmal cmh. net 01 .f.he Debt Rewne Account m the Ikht Senice Iund h salued i N. semi-annually at Januar) I and July i at the lower of cost or market m W i
'" #~ " accordante with requirements of the 1 lettric Sy stem Resenue llond p.
C, .U!mm c tm / unds I wdDurme ComismIwn MICDCF Resolunon (1.lectne Resolunoni. The secunt es in the remanung , -_ j Thn allowance, represenung the smt of funds uwd to finance lunds are s alued at the low er of tmt or pnncipal amount m accordant e , 9 comtruct.on. n capitahied as a wmponent of the cosi of utilit) plant with requiremenh of the Mectnc Resolution. :j and n credaed io interest and Other Resenues The capitahranon rates .:j
- 11. Dejernd Fncome- .:
W tor wmtructmn hnanced w tth res enue bonds are bawd on the intered As prmided in the Uectnc Resolution, the Dntnct cmenanh to tost of cash nsue leu interest intome, ,lhe capitaivation rate for e charge rates f.or w holesa,e i and retad electne sen ice m that rewnues construction financed by resenues is based on the weighted aserage rate of mierest of the cunent oubtandmg borrow mgv i or oc periods w di be suftkient to pas annual operaune expenses mcluding: 1) presented herem, the All'D(, tates ury Dom 6 04 to K.25%... N,uclear l'acihty and Power Supply System charget 21 operahng expemes other than depreciation. 3idebt senice, and 4)certam y 4 D. Deter red Cha'm" captal adiht ons. y i Deferred charges as of December 31,19% reprewnh Si$ 7 md- Vanahon between actual energy msts (pnmanly fueli and the hen of Nutlear l'auhty bdimps for cen.un capital addshens 'I he estunated energy emts meluded m the bask rates me be recm ered by
, le _nct mtladed amonvation of these deferred charges of 520 3 a Pnstucion Cmt Adphtment tPCAL lidhngs for the PCA pnnide imthon m le'n $123 nulhon in P 49,and $131 milhon m 19n in for the t vmen of the sananon in energy cmts either in current or
- C power purchased emme. The ahm e deterred 6harges are espet ted future yen.
to be amortued as follows luyt.$M milhon: 1992 57.1 nulhon: In the aent the Distnct's rates for wholesale and retad senke. 1993 523 nulhon en ludmg the PCA, result in a surplus or deficit in resenues dunng a [* rate penod. suth surplus u deficit h taken mto account m prosecung d
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p- - F [ ntimated resenue requirements forlulare raie pernit Suc h treatment Principal payments of Olectric S) stem lamp-lerm Debt for the ?I
. , of w %iesale res enue n siipulated by the Dntrict'slong-term w holesale nest the yean are: 1991.il23 tmthon; FM2 5114 nulhurs 144 ,
d power supply contnicb. $14.1 millton; 1994-%I4 9 milhon; 1995-515 N mdhon. ( A_ 1he wmNned surplus w hwh arme m 19% 19M9, and 19hN l rom the PCA. wludesale, aal retad sers ice has been anounied for m thew W CompCN. PAPI.R NO1I:S. b 17
.gg.huthorind to inue up to il00 milhon of comnrrcial <
haancial statenenh by a delertal of rnenue.1he 1989 and IOMM - paper noin. A letter of crnht h maintained w ith a tunk to support the hnancial statements and supplemental sc heduin ha$ e been rotated to renect the proemation of suc h .imounts in prior yeart no deleiral or
@ of ik ommercul y mm h letter of credd expues in $
b , Nmember 1994. The etfectis e interest rain on ouutandmg notes for aa ruat w as made oQer than the PCA to telleet the obhgation to adjust future rain for such surplus or def wit. The ef fect of such rotatenwnt WM 1989 5#4 and 6M respectnely. -E* Tweeds of these notes are Irmg used ( D to fin.mcr certain ' . is to reduce imiously reported net revenues and net revenues
. capital additium of the Nuclear l'acihn. imd 12) for oder law ful !l as adable for den senice by $12.6 tulhon and $17.4 milhon in 1989 alid 1988.respectively.
purpmes of the thstnct,includmg an Advance to the Power Supply \p g , J 'lle 'imulaine surplus at December 31,19% to le reflected in U. luiure resenue requirements h approunntely 5 44 9 milhon. The notes are anticipated to be retired from repayment of the [" ' Adsunce to the Power Supply System and inun Electric System k. I 1. kenne Remmsum- rn enues.. y' , Wholesale resenues are recorded m the penod in w hsch wruce is g gg.TIRDilM Pl,AN AND POSTR'TIREMI:NT lt0NElITS:
- f rendered.and m anonlance w nh industry practice.retait res enun are
- the Dntriet has a retirement acime plan cmeting its regular full- -
- _ . recorded m the month retail customen are billed. Consequently,
# " time empimen, substantially all if whom have elected to pameipate.
rnenues apphtable to service rendered to retad customers from the ,; g g g gg pernlmscred by the last billmg m a ycar to lhe end of the year are not Ihstricticontnbutions are alkiculut to each emploveei trust account . remrded as rnenues unni the follow ing year, Operating res enun are W od Am o tan The plan provides aho impacted by the surpius or deicu in rn enues as dewnbed in Note (t Q-y for retirement income equal to the total of the employee.s trust account,includmg trust camings The Dninct'scontribution was 56.4 J. Ar umulain/ Nct knmww milhon for 1990, $5.6 mdlion for 1989. and $5J milhon for 198M. , o The accumulated net rnenun cothht pnmardy of cumulatne The Dntrict also prmido cenam health care, acculent and hfe ?, j p operatmp rnenun collected for unhty plant additiom net of related insurance benchts for retired employees. Substantially all of the & acsunudated deprniahon. The remaining accumulated net rnenun Dntneti retired employen are chgible for such benentt De cost of I.,' will be fully 00 set by future deprecianon opeme. In addinon. providmg these lynents was 5995Juin for 1990, $ 1 AM 13X U for 1989. {s.y. {$ accumulated net rn enun in( hkle cumulatn e mtetet income earned and $1,012JKin for 1988. E on Construction l unds gy.g % g ,
, K. Clam / nation of Com-Certam arnounts m 1989 and 1988, hase been reclamried to The Dntrict offers its employees a deferred compensation plan created in accontance with Internal Res euue Code Secunn 457, All h W 'i j
+
conform wnh the 1990, presemanon. Ihn recktmficanon had no amounts of wmpemation deterred unkt the plan. all property and h nnr:ict on Net Resenun- rights purchased with such amoimts-a d all income attnbutable to [',4
'V such amounts, property, or rights are umd made asailable to the F (2) i ONG TL.RM DI.it E iwrmher 3:'
employee or other beneficiary) solely 11 e property and 4bts of the ' WA+ Dntrict t w ithout tving restncted to the pn visiom ofivne0ts under the I~4 Roenue llonds. thuwnds uf Ibtlaro Senal liondv-planhsubject only totheclaimsof the Distnci'sperrr dcrediton The blI
'*"004' due 1990 $ $' 375 De & recMed me m of us deferred compensation plan and NM AN m .
4.75%6.309, due 1990.. 9,530 the correspamdmg habihty to re0cct it3 fiduciary rnpomibihty under ' hpb 4,
- 4 *W 6.409. due 1991 to 1995. _.-
the plan. In the past, the plan ; mets has e hcen used for no purpose other O F 34.010 34010 than to pay benefits. The Distnet belines it is unkkely that it w ill uw -OI
$ 01M .h.lui,due 1996 to 2000,. 39350 39.856 . .
IfD;G the assets to sainfy the claims of general crediton m the future, the m1 .. W- - - 5JWL6.304,due 200t to 200$ 49,740 '49,740 , plan is admmistered by h~ e Equitau Life Anurance Society of the WW w& E.; ua - 5.75%6.40% due 20t16 to 2009 - 27,820 27NO t 9:
. Um.ted Statet 3 ,' @"
,, Term tionds with annual Mnking
[. 9 fund requirements- Mi LITIGATION: g'
$N N 5.104.due 1990 to 2002 . 34495 36,545 On August 14.19M5, NUCOK Corporation (NUCORh a large "
'l s i 6 001, due 1993 to 2003.. , 33.200 33,200 17,100 industrial customer, filed a law suit in me Urhied States Distrier Court of Nebraska alleging mercharges from Augmt I,1972,to Janutry 1.
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. 6.75% due 1991 to 1995.. Ii dui 7.004, due 1996 to 2005.. 'L250 57.25o 19m in an undetermmed amount and $ 10 milhon t rom January,1980, 1 1 93.465 $305.420 through Decemtvr,1984 The Dntrict's answer, among other thmgs, Q *
lxase Purchase Pavablev. demed that the Dntricti rates charged NUCOR were unfair, unrea- / a 2.tpl due 1990'to 2005.- 2.9 l 2 3,243 sonable and discrmunatory and funher denied that NUCOR had been !. CyJ Unamormed liond Dncount .. 41JW5) tL180, damaged as allegu and awerted various atfirmatne defenset U\4 k $295.312 $ 107.40 , w
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5 ' lnvestigation and thsun ery indianed thai res enuc collected by the ' amsinutionally pmtected htwrt) mierests NUCOR seeks damayes Dotrict f rom the llTS.2 sate tlaw, of which NUCOR is a member, f3
. 3 against such indnklual defet.dann m an undetermined amount, y
^ M4 from Septemtxt Ll97DoDecember 11.19hfteweededtheresenue includmg punaise damages and attonw)i fees under luth federal ;. -
requirenwnh by 51,527,301. " flus surplus was adjusted by a decreaw and vate civil nyhb statutes. N1otions to dnnuw has e twen Died on F
, m the i fl S 2 clecinc rate s hedule for sen ice pnn ided Inuu %1 art h 1, behalf of such indhklual det'endants bawd on the defense of the W, 1987, through December 31,19K7. absolme kpislatise immumty of such defendants the failure of f At trial, NUCOR evanded then orlymal clami of damayes to NOCOR to state a clum, the statute of lumtauons and other issues
;> N indude the years 19xi and 19% On May 6.19X7, at the concluuon rahed m the Dhttiet% motion. ;- Q '
of toal,the jury returncd a scrdret m fasor of NUCOR for 57,492.340. On July 12,198x, NUCOR hied a law suit m tlw Distrkt Court of - E* lhe judge then entend judgement agaithi the Distnet on May 15. Stanton Count), Nebraska. requeuing judgenwnt for alleged user- b
,. 1987, reduemg this amount as a result of the statute of imulations to charges of at least 51$.744.844 from August 1,1972 to Desciutwt 31.
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- 54,401.547;Tiw Dninct appealed thejudgenwnt to the lighth Ciremt 19A7 and for an undetenmned amount of damages for ewcw
,f Courtof Appealt NUCOR thereaf ter filed across-appealcontending pity inents af ter ikceltibet 31,19M7. NL ;COR also sequests dam.iges 2 s
- that jmtgement should has e been entered on the full anmuni of the jur) in an anmunt not yet ascertained for alleged uolatums of the Ne. ' .
s erdict.and that preludgement interest should has e been aw arded. On braska Consumer Protection Act.1 hn law smt in state (mrt (os ers g-y9 December 13, im a three-judy p.mel of the Eighth Circuit Coon of the saine tale periosh as the tuo lawsmts fded in tederal omrt by
$ i Apreah 6ted an oprunn whkh af firms the May i5,1987 judgement NUCOR agamst the Dntrict. For its prehminary response to the in all respects The Dntrict tiled a petition for reheanns by the iull lawsmt, the Dntrict 6ted a motion to sinke imd to requue Nt'COR Coun. w hich w as denied by the Cou.1 on \ larch 16, l om The District k- 4'"
*_. to make more dennite and certam, sarious allegations of NUCOR% - S
,_ thereaher fded a petition for w nt of ternorari m the Supreme Coun of petition, which motion remaitn pendmg twfore the court The state
+ the Umted States uhish was demed on (ktoler I,19% On Octo- R court entered un order that stayed funber pmceedmps in this achon ,
twr 5.1%O, the fhstrict Gled a motion for partial satnfaction of unul the entry of the final demion by the Court of Appeals in the hrst judgment in the Dntnet Court. requesung the Court to det lare that the g Ibtnct n emitted to a credit against the judgment m th( amount of federal law suit. p ~' in 1988. NUCOR twgan withholdmg payment of a ponion of ih g 51,527.301 becauw of a rate refund that was made to NUCOR during monthly bdhngt As ot ikccmber 31, l*80, approsimately 54.9 nul-
*i 19K7. Eh motion remams pendmg. On October 19.19% the lion has been withheki on total bdhngs of $36 5 mdhon. NUCOR Q 'I k
i # - thinct made pa) ment on the jtkipnwnt in NUCOR m the amount of
$2.87tt246. plus $713.208 for interest thereon and tasahle cosh. The continues to withhok! on bilknps rendered in 1991. ' in July l*>R respindmg to NUCORN firs amended complaint ided in the second
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y ' mapoty of thn pa3 nwnt w as resened for .n 1989. federal lawsmt, the Ibtrict fikd an anwer and counterclaim to E 0" On July 11.1985. NUCOR filed a second law suit in the United recover damages trom NUCOR for breach of contract and to enjoin States Dntact Court for the Dntrict of Nebraska. Such action was - NUCOR from wilhhokhny payment. Also in July 19'n the thstrict , stayed pendmg the nutcome of the appeal of the preuaus law smt. On October 10,19% the Dntrict Court granted NFCOR lease to Ide a fileu a monon for a prehminary injuncuon to require NUCOR to pay &f the unpaid principal balances and accrued interest on all billing E'~ second amended cor.iplaim which requesh judgment against the statemenb ror seruce prm iJed suwejanuary 1988,to reymre N UCOR *
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Dntnet for allegetl mertharges in an undetermined amount for each W to make full payment of all bilhng statements rendered dunng tlw hy s of the 3 ears 1987,195M.1989, and 19% trebk damages in an midetennined amount and attonwy s' tecs foralleged unlauons of the pentkney of the action, and to authorize the [htnet to dacominue ;y ;y 3 senice to NUCOR for any failure to make required paymenti Such . pt y' _ . j Iederal Shennan Act; damages in an undeternuned amount and monon for preliminary injunctise rehef was denied by the Dntrict l'f *g y attomeyi fees for alleged vintations of the Nebraska Umsumer Protection Act; and damages in an undetennined amount and attor. Court on l'ebruary 14.1991. The IbtrietN countertlaim for damage 3 ~~ b and pennanent mjunctive rehef remaim penthng.. h - neyi tees for alleged dernvations of NUCORN propen) righh and th CAPITAL ADDITIONS: g{}
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hherty mteresh allegedly secured by the f ourteend- Amendment to the United States Comtitution. The Dntrict has filed a monon to unkc and to dnmm NURTs second amended complamt m w hole The Ekctric SWem comtruction plan meludes authoniatmn for
. esumatedespendnuresof $39A milhon for 1991. Diese ctpenditures x Me' or in part, bawd on lat k of junsthetion, failure to state a claun, and MI be funded fnim resenues and other avadable funds. W
,]h other pleadmg irregularines. The DntrictN amwer to the second f
'%dg amended complaint,if any is required. w ill r.ot be Oled umd ufier dw Ol $
%8 Courti ruhng on the motion. - U -
[j NUCOM N wcond amended compLunt aho names as athbtional .
% pg defendann ten current members aiu four funner memben of the
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. .. MQ' DntrictN lloard of Dnectort allegmg that such inthudual defend- i
+ (4 anh. from 1974 to the present. acted to deprise NUCOR of in 1 M substantne property nght under th United Stato and Nebraska '
?i N3 Constitutiom to recene a fair and reamnable elettne rate,and of iu e 1 i wC '
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~l o (he hoard of Ihrcttists Nhiaska Pubhs Pow er l)lsMit t:
he lla\e atidited tiie accoin;tinying spetial-litir}xwe stateiiterits iit .isseS and liabihties of the Pow er hupply 53 stem of Nebraska Pubhc Power t hstuct ta pubbc (ortwat.on and pohtical sulun mon of the $ tate of Nebraska > as of 1)cteinbel 31, lW) and PM and the iciated special-purpose st ..s.. M re\ enues and tosh f or cash of the three years in the penod ended I)eceiu~ ber ll . I'* M ' hese finanaal st.uemenh are the respondbihty of the lhstricti management (lur responsibiht\ is 10 e\ press an opunon on these l'inancial statements based on our audih We tonJucted situ atidih in accoidan.;e with generally accepted authiing standards. Those standards requiie that w e pl.in and pertonn the auJit to obtain reasonable assurance about w hether lhe linans ial statemenb are tree of matenal nusstatement \n auiht ins ludes e\amining, on a test basis, e\ idense supporting the amounb and disclosures in the tinancial statemenh. An audit also int hides asseuillf the at O)untilly ptlnciples used and signlllCafil estiniates inade b) inJnayCinellt, as wc!! as e\ alGaling the o\ era!! tihantial statement presentation. We behe\e th.It our autbb pun ide a reeonable bash tor oui opunon *
's lle at annipall)lny s}K'clal-pur]khe l'Illaih'lal statelnclib ha\ e been prepared tiir the ptirpswe of mmplsine with, and on the bash of accounting requnemenh spetitied m the Power Supply h)slem Ne\ enue holbl NCsolutlinn adopted b) the Illsinct on bepielnbel 2S 1972, as supDie-menteil. as desented in Note < 1 ih. and are not mtended to be a presentation m conf onr.ih with tenerally accepted accounting ponuples.
In our opnuon. the accompany mg special purixwe financial statement ot' the Power Supply Sy stem ot Nebiaska Pubhc Power 1)istnct present lau ty in all matenal respeth, the auch and li.ibilities as of lleielnber 3I 194(I and l'M alld th le\enues and s osh Ior each of the threC ) ears m the penod ended 1)etember 31.1900. on the beh of accounting de's nhed m Note t I sh.
. Coopers A 13brand
! ( huaha. Nebraska
\larsh I.1041.
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-POWER SUPPIX SYSTEM '
& I): b .;. , -
. Statenwnts of Avts and Liabilities _
December 31,IMO and 1989 . 7 c.c Prepared Pursuant to Requirenwnts of the i F Pownd: poly System Revenue liond Resolution' - 3 , .., . 1996 19M9 ASSI'.TS ri houwnds or iwn.,o Utility Plant, at Cost (Note 1), . 5711,279 5717,464 Lesw Resen e for depreciation (Note 1).. . 105.636 99,(K)S " [" Amounts funded from resenue (Note 1). 13.753 13.750
=
5591.890 56(u,706 Prepaid Capital Costs (Note 3 ) . . 5 67.830 5 67,205 [~, Cash and im estments (Note 1): Ikht resen e account .. . 5 58,553 5 58,566 Resen e and contingency fund . 8,540 6,151 . AdJitions and impros ements account . 6,015 4,290 ; Construction funds . 36,495 34,248 F Resenue fund.. 1,318 663 Operating fund . 28.957 20.919
- General resene fund . 47,157 53,358 5187.035 5178,195 e g-Accounts Receivable . .. $ 80 $ 2,507 interest Receivable. . .. $ 3,453 5 4,~187 Fuei Inv entory, at as erage cost . . 5 11,576 5 12,386 d
Deferred Charges and Other <\ssets (Note 1).. ..$ 41,175 5 41,850 5903,039 -5911,636
~~
1.l Allll.lTIES 4 Res enue Bonds (Note 4 n Serial Bonds-- 5.(W)%6.(K)ci, due 19(M) . .5 - 5 15 # )5
, 5.5046.SfK1, due 199I to 1995 . 92,545 92,545 E 5.70+-7.20ri, due 1996 to 2(KK) . 75,240 75.240 6.(KG, due 2(Wil to 2(W15, 5,405 5,405 '
Term Honds, with annual sinking fund requirements--
; 5.80i, due 1998 to 2012.. I68,930 168,930 6.125% due 1999 to 2016.. 239,635 239,635 P
! 6.759,due 1999 to 2001. 23,025 23,025 6.90%, due 2002 to 200S.. 75,345 75,345 -
7.104. due 2009 to 2016.. I29,005 129,005 7,375% due 2001 to 2006.. I1,595 11,595
' >t 7.50% due 2007 to 2019.. 50,320 50,320 1-
$M71,(M5 5886.650 Advance from Electric System.. 6,1(X) 6,100 s Accounts Payable ar l Other Acerued Liabilities . 13,173 7.368 ?
Operating Resen es (Note 1) . 12,721 11,518 -
, ,5903.039 591 a ,636 The aa vmpanwn: rwtes to financial statenwnts are an nuevalpart of these statemeras 25 7
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, o~ w - POWER SUPPIX SYSTEM -
P 95 ).
, ?* . . ,
,#e -. . . . .- Statements of RtOnues and Costs * -
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. for each of the Three Years in - *
. the Period Ended Denmher 31,1990 - '
J _ Prepared Purmant to Requirements of the : ~ e Power Suppjf Sptem Revenue llond Resolution < ,
... = im im il htmunds of IWtlaru
( Resenues (Notes I and 2t Sales to the lilectric Sptem . . 5139,781 5142.513 5145,294 imestment and other income , 13.SS6 13.623 13.124 Total res enues .. ..,5153,667 _5156 _1 _36 $ ! $S,4_18 - _m_. _ Coste ()pentling e%lYnses-- h Production-- I uel . . 5 53,739 5 58,299 5 60AK0 Operation and maintenance (Note 3).. 21,970 20.231 21,426 Provisions for operating resenes (Note 1) . -- - - 7 General and administratn e . .. 6.096 5,740 4.M 3
- 5 K1,505 5 S4,270 5 S6,549 I)ebt senice.
Itincipal tNote 1) . 15,tir, 14,790 14,030 Interest. 56.257 57,076 $7,839 Total costs .. . 5153,667 v= --- 5T56,136 nc = _Uli; SI5
.= ,,. .p Ihe as i omlsonme noin to fi runi tal stan inrnh ase an nu, *al tur-r vi d :- Jatrmenn.
Nebraska Public Power District POWEll SUPPIX SYSTEM Notes to l'inancial Statenients tli SU\1\l \RY 01 SIGNilICANI \CCul'NilNG Pol.lfil:$: h. / tam of A rounnne- , o A. t Wa,n: anon-Rewnno .uc ret opnved and bihed at an amount equat io msh as
,n The Dntra i has ihlee separate dn nions for aucuntmg purposes E*"#d D d'# I"* " " PPD D * "#"""# U""d " "" i 1.
. as toilow s "" "PP ) I #'"I"""" ' " I"' "' "# "F'd""E " F"'#' *
, l.lecine blem uding deprecianont ami dcN sas'h e on the rewnue hinds. Im l'ower Supph 5sstem nwesonent incone esenues are wmputed and NWd so Otu no Nudear I aciin[ equay h anunndatM m dw Nwer Supph Sptem.
Resenues and t osh as detmed by the Power Supply Resolution As required by Houst kewlunom. separate records aie maintamed ibiler m the following respech troni penerally auerted auounting k for each dn nion. The Power Supply Sy stem financial statemenh print iples eu hule the I .lectric % tem and Nui lear i auhh. f or u ha h fmain.ial statemenh are presented separately herem .I bc P'owo hyply Spiem t Ii Amortuanon of the debt punapal n intladed as a w t m the .tt compan)IDg hlatelncllh of NeWnues and (,osh as "IkN Innanila! si.demenh should be reail in L'onl Unction with sus,h other sen he-Pnnap' al ,.
. t. manual staicments. 1 26
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+
W' e b Depreaauon is not iecorded as a t ost flad the Dntnct L Delm rd Ch.nyn - pan uted snaight hne depicaatmninct a 40 ) car hte ta:her than Cosh aramp from the temunahon of mcomplete generahon and
+
unludmp amortvation 01 dt N pnthipal mer the same petul. tr.unmimon proteds are bemp amortved m er thc hk ot Hw tonds the a n, wouu h.ne .nauwa $n nenien m om S u. minion m pn eca, oi whsh wc,e used m pan ia pay inew us,n. ums {" I W ".and M i null in m lV A Accumulated depecianon through anmrtuation n iikluded as part of debt wn tt e cost. Detembet Lt. UP4 would h.nc mucased cmts apprmmtatel) g g ,g g pgg 99
,, %6 2 nulhon 1he imene tot deprecialmn shown on the St.nc-ment .ol Awh andl A Nhtic w as pun Med b) reuirding anmunh
.N I M n d wh k Pe Wih RtdWm m
.t equal to sepay ment of u bt i pm nenrement of propen) subjed s' "M i d m'm bm k Pwer %%
b d M &N m p opW to depicuation. the tost of progyn) n remmed hom plant aaounh and (harged to the fevn e tot deprenanon. uhw w ah c dM m m m & Pom'r M@ hm 6
,g gg g g, g ggw y g. g the teme .at uish. nei of sah age. '
R MN iM Mloddym M@yW , Ci lt ihngs to prm ide tapitai tor tenew als and replat emenh out of revenues of the Power Supply Sf stem. The deh' wt w c of pnyicn) and capital,uldinom are mt luded m the accompan)ing p nh ot Ow howet Suppl) S)Mem Pemue lionds are Ul 9 nul-statemen'i. acO;o anny Resen ci and "Pnn nsom for operat mp Imn per ) car through D645 atul ptuw ipa' paguenb.as a t omponent of . rewnet" Undet pencrally accepted awountmp pnnaplew s are dew.cn ice N nwmorc 516 $ nulk.d W imHmedlO nWimm
- tal .nkhtums and pun idim lor tenew als and replat enwnh are not
%Pt$ nulhon. and $20 7 md ;on toi esl of the years 199I through espemes but icu lusn c ot nunor iteim of pmpen) ) are t har red to D89% te etnck '
unht3 plant Renew ah and repl.nemenh of propen) and capaal , aAhuom lunded imm resemws are tully rewn ed. Renew ab.uul LD PRIPAIDCAPIlAI~CU\TS .e replacemenh and capital ad.hnom are tunemly bemp lunded DCPdd 5dPddl L"'h atC 8"otiated wnh the purchase of the Irom euquig tund pnseeds that h.nc been transtened ' ic ul*") of a 50 W hydroelecinc peneranny f atihiy owned and A General Resene. "Immed by The Cenual Nebrada habhc Power and Irnganon Ib-i h lmerest mcome on con *trudion f und im ee ed. Inct iCentrali. T he prepay ment n bemp amonved met the ble of the , ned to utiht) plant l'nder penciaHy aucpted au inn . bondw the pnseeds of wluch were used to pa) thew emh. 1hn g% aplet sush mmme would h.ne uwreawd resenues n Jhon ainonuahou b mcluded as pan of debt wn we t oM - m 1+R $2 7 nulhon m PM9, and %2.5 nubion m 19xx 1 he Dntnct h.h an apawnwn1 w hen by Centml makeuimlable aH of the production of the laahl) and the lbinct pap all cmb of C. I niin l'l.no operanny and mamtainmy the fauhty plus a (harpe Aned on the huerest eyvnw. lew inteiest camed on unestment wounnes all amoum ofenety) delnered tothe !btnst. Cosh ol %X Unim P34 ' hnans mp cmb and all other cmb related to construction projech are 5495W m 1984, and 5517,1 N N hn 19KX. are m(Imird m"Pnkluction- ' capualved Operanon and m.umenanceJ 11 C m h on./hncu w n M 44) Dlil EAS OCE Of Dl lfl- ' lunds sonsnt of Mx5.5 nulhon of une4mem wtunnes and in Uw6. the Dninct 6 sued Pow er Suppl > Spiem Res enue llonds O 51.5 milhon of cash depmin at llecember 31.1990, and %I77.2 mil- 1986 Senes to ads ant e rehmd the oublandmp Powet Supply Spiem t hon of nuestment wcunnes and $1.0 nuthon of tash deposib at Resenue llondt 19M5 Senet The 1985 lionds were deleased by Det emhet 11. 19hu. 1he carrying salue of imestmem wounnes placmg the pn Aceds of the 1%6 flonds in an uresocable tru t account appmumaics market w uh an ewtow agent to proude for all tuime debt wn we pay menn on Cash degnub. pnmanly mterest beanng. at December 31.19% l 7. the old bonds Act otdmply, the trust awount aswn and the habiht) ami throughout much of the scar, weie cmcred by federal depository for the defeawd bonds are not mtluded m the lbinct's f manaal i msuraxe or unregniered L' S. (nnernment and mumapal secunhes usenienb. At December 31,1990. $6M milhon of lunds ouhtand-heldby sanouulepositones in ewmeno at Decemtrr 31. PNO, were mg are condiered defeased. m unreentered U s Gmemow wnme W 'ehral Ap.y obh- l (Si C APITAl ADDITIONS: ' I patiom held m the DntnetN name by the cuumbat bankt 1kP r Suppl $ 5 tem comiruction plan moludes authon/a. The Debt Rewne Account in the Debt Senke f und and the Rewn e Awount in the Resene and Contmgency I'und are valued W 'd h@m M W Mm W DM lhv (- wmi annually at January I and July I at the lower of cmt or market in dem WH N hmdd hm sq %d pmA du W been tramferred to the Ocneral Rewne. 4 anordante with requiremenn oIthe Power Supply Resolunon Gann or Imses on saluanom are included m nnestment mcome, De wcunhes m the rem.unmg tunds are valued at the lowet of cost or 6 pnnapal amount m accordance wuh reqmremenh of the Power Supply Resolunon.
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b t j lo the lloard of I hicciors Neluaska Publw Power lbtnct: e Id\ ( .NI de t e .ldo!npdn)!!![ spet Idi pt! lhIse skd!(IIIclI!s (If $5ue!s alk llahIiIk!es l't ! h' Nos le.u I atihty ot %braska l'ubth I'ow er I hsinct ia pubhc (orjuu.ition and pohth al suNhs !sion of the Nate of Nebraskal as of I)ct ember 31.1000 and In30, and the related special purpose sta:ements of res enues and costs f or each of the three y ears in the perial ended I)ct ember 31, 1000 t hese huancul statements are the responsibihty of the I hstnct's management ( )ur leslhinsthdit) is It) c\plew .in tipilll4 tfl t ill lhese bil. Int Ial st.lteniclus bilsed oil (1ul alldllt We colhlthled out authis W accoidante W lth pencrall) accepted audinnp $tandahls I hosC stand.uds requie that we plan and pertorm the autht to obtain reasonable awutance about u helhet the tinant tal statenients ine lice ol nutenal nussi.itement. c\n auth! uwludes examinuig, on a test b.tsis et hiens e suppontile the amounts .ubt diw losur es in the linath ial stateinents \n audit aho - in, hides aucul!1p the .h t olluting plinciples itsed and signific.tllt esllinales Illaile b) Inall.tpinient, as w ell as c\ ahlatille the o\ crit lI lithllicial sl.itenlellt piescill,lthill. U e bellen e thJ1 tiul audits lMt1%hi.IIOIMIluh [ IdsIs till slur tilIlllit dl. lllc .It ct'111parl} llly special-ptirlKhe huan-s tal st.ilelliellts l'elerted tti alk n e hJ\ e beell
; lilepaled Itil' thJ pilijk We til coinpl)llip % llh. and t'll the basis Ld .tnounlllly ret lIllletnclits s}W 1t16l m the Nutlear I atilay Res enue llond Resohinon adopted by se lhstuct on August 22. lohN as supplelllellled. .ns tiew ribed lii N ite i 1 ill. and are thit sitterwied hi be a pit sentatiori iil coiiitirinity a uh penerally a<cepted accountmg poik iples in our opunon the a< company my specul purpose tmant ut statements of the Nutleai l'.Alht) ot Nebraska Puhili l'o% ci lhstnct pf esent t. ort), m all malCruI ICspeils, the awels and luNhties as of liecembei 31. looo.uul low. and its res enues and costs f or each of the three years in the penod ended December 31. luuo. on the basis et auountmp descnbal m Note 4 Iill.
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_Statenwnts of Annets and Liabilities ( ( -u . December 31,1990 and 1989 < ., L . Preppred Pursuant to Require'ments of the . > l Nuclear Facility Revenue Ilond Rewlutiem? ;, ow
. -a .
l#90 itN9 - dbl (Ib flhouwndsoflhdldtH j i 3 Utility Plant, at Cost. , , . . . .
..5623,366 5595,N86
- ]
l xss-. .m - 165.595 149.908 -o o Resene for depreciation (Note 11., , . . 222,637 201,757 6 Amounts f unded from revenue (Note i L. . . ...,_ 5235,134 5244.221
- Nuclear Fuel- Net of Amorti/ation (Note 1) . . - ..$ 76.293 5 97.347
..s- .
Cash and imestment ,(Note i n .e d Debt rewrve account . . . . . . , , .
..$ 2X,238 5 28.?i'2
- 7,548 Reserve and contingene) fund . . , 7.234 ..
Additions and improvements account . . . . 12,762 5,319 , General resen e fund . . . . 10,527 - Comtruction fund . . ., . . . . . , , 10.804 1,960 1 Fuel resen e account . , , , , . . , ,, . 39,306 48,978 s . . , . Fuel disposal fund (Note I), - 3.628 !. 0;vrating fund . , . . . . . . . , 7.039 6.743 g Res enue lund . . . , , . -1,501 1.329 t-Decommissioning fund (Note 4) . . . . 12.427 15.661 !g :9 5130,152 5119 IN) V 's
- 1 g4
, . _ 5' Li Accounts Receivable . . ..5 33,897 5 38,541 g,
- 2. ,8 Interest Reecivable. . , ..5 1,934 5 1,763 _
e ,> Deferred Charges and Other Assets . . ..5 488 5 549 I
. J Internal Decommissioning Fund (Note 41. . . ..$ 7,385 5 j
5485.283 5501,581 5 - A- > g t. . I.l Allll.lTIES r. ,- 3 V .,- Res enue llonds: J -q Serial llonds-- [ 4.S09 -7.509, due 1990. . , . . ..$ - 5 8,115 ; N
. 6.009r 8.80%, due 1991 to 1995 . . ,, 24,020 24.020 !. ;i , ;
7.3759-9.209, due 19% to 2003 . , , . . . , , , . . . 26.600 26,600
- i
, .y . Sp Term llonds, with annual sinking fund requirements-. . L j 5,109, due 1900 to 2002.. . . . , , 132,335 140,200
- ' 6,304.due 1993 io 2003.. . . 68,430 68,430 ;
6.609, due 1992 to 2003. . . . . . 67,200 - 67,200
-3 . 5318.585 5334,565 - .
') Operating Resen es (Note 1) .. , , 139,024 131,520
$i Y ]
Accounts Payable and Other Accrued I.iabilities . 20,289 35.496 ihternal Decommissioning Fund (Note 4) . 7,385 -
! =J
- j. 54M5.283 5501.581 ;
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Resenues (Notes i and 21: L Sales-- g Electric Sptem . , . , ..$ 77,422 5 70,322 5 69.282 tow a l'ower Inc. . . . . , ,, .., . , 77.4N 70,351 69,274 Y( - g -w ; Im estment und other income . . .. .. . , , , , , ,
..__20 1401 11,911 10.293 l-Tv ' Total res enues . . .
.. 5_175.2.-2 7, -515
_2,584 _5148.8 _49 6,
" !i Costs (Note l): '
o, .r i' ' Operating expenses-- , lbluetion-- i I;uel . ,, . . . . . . .- . . ..$ 29,069 $ 28,151 5 25,954
.y.
g Operation and maintenance . I'rovisions for operating tvsenes . 64,244 35,607 52.619 27,37i 49,450 T1,781 0.H ._[ General and administrathe . . , . . ,, . , 10,N4 8,109 5.425 5138.964 5 l 16.340 $112.610 < Delit senice-- l'rincipal . , , ., .. . 15.9MO 15,100 14?90 x ' interest .. . . .. . 20,283 21,949 ___21 t_144_ : ,
, ;.y Total costs . ,, ,, .. . ,,
_ _ 227 5175 . 5152.584
-- 5148__ .849 --
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. Ltes to Financial Statements t i4 st m1 ART t a s1GNil ir Avi Armt N ilNn lul lcil.s i b laierest nh ome on unnous tam tmui ms nimenb a cini ned to uhbly plan- t nder gencially aucpted au ounnny pun
\ ( h non som (iple% sut h okoine woukt has e mercawd res enues 5 7 nnlhon m a +
l l he I behi has the s c wpinte da nioin hit atunmtmg purpan as tollon im% 5 ti nulinin m llM. .mJ % h imlhon m 142 4 116 b part of a settlement w tih (iciteial I les tf k (,onipain ~ I hN trh b) stem iGI i, relaimp to uintainment aint spent mh lear fuel. the Dutral Power hopph $3 dem wdl sesene dmounh im luiure puh hs,es of tenam eqmpment N ucle 1.h ihh athl wn Nes lot (.titi}rl Nh IC ir ilation alh! w i!I fekene s tenhh As requoniin ltond Resolunon% separate re(onk air mamtamed i.nd dm ounh uiulet arnimendment to dk' luel tan h anon uinh.h l iot i u ti dn nion 'I he Nm lear i aohi) imans ul slatemenh cu la le Ihe Dntrki n amoquing mer a two scar perowl startu.g m im%
< the i ks ha N)dem and Powei Nupply System, tot wins h lu. ant ul the enure amount of the trochh alhs sted to op;tatu n l nder ua;ena nh ;ne pesented sepaiairly herm t he Nusleas 1.h ihh generally au cpted aununtmg pot uple% sui.h lwrf.h wouhl tr *
\ tmans ul uatemenh shouhl to read m umnmsbon w ah such other anognved when reenrd wlush m the une ol
- ic wnlement Imanuam.n. . ouM ~ e , dr ,m, i ma,. Dn,ad,m n e ,nelh m an li 16nnc/himame uh reaw m rn enun dunny the two ,was amoni atnin grind and kes enues are res egnved amilulled at an amouni equal to cosh as ins reawd unk dies cahet 1 he aprnnient supul in dui the dohar ,
detmed by the Nhicar I auhi) Resenue Itond Rnotunon i%hica, ulue of the wulement idniuM not k dm iose-Remlunom w hh h un hule o;riatmg cyrines ieutudmg depra u g; g joy p g nom. .md debt wn kr on the sewnue boudt less un ntment mi ome Nudear luel m the rcador s temg amon vn an the basis ol energ Rn enun are t omnic6t .uul bdled m that no tymi) b au umulated m p%g%);n a p.hentage of M.d enem epi ied to be produced ' the Nut lear 1.h ihn he Diond hh enh red mto uintrwh in mom nudear tud Resenun and . mh as defmed b3 the %A lcai Rnolohon thller m tempmenh lor lud loadmps e lohon the Mhm my inin h imm yencrally au epied as (ounimp prmuples br thrma:h i I i Amouvahon of the debt pnas apal n m.luded .n a t ost m %m' car i url M IAh 1(cymrrmenh O the auempany mp Ntatemenh of knenon and Cosh as "liebt Omnpunent supphm W Pa uh , wn h e- porh ipal ' l tanmm ('oncentrates Vanoin PN I al stimatedi lic} .es unon n not ici o:Jed as a wu llaJ ihe Dninst ( omenn,n . Athed . Signal luus pouded m;ustu-Ime dermuahon oser a lo y cai hte rather than Enru hment . U % ikpt of . nhludmp amostvanon of debt punupal m er ur same p nod (n in jny unh wouM hase deocased M 7 mdhon m 1990, $1 fi unthon m Iabneanou Gened [ leco n Co. 2nux low.and \ b untuon m PhX Au umulated deptet unan throuc h I)es emher 11. lu4NI. w oldd h.n e uh r,'.hed unls 4ippHnif natch I tb loi dnpnal of $uct lli lhe h*!khtr are king pna hied ib patt M.I 6 mdhon .t he rnen e f or depreuahon show n on the St.ne- et the f uel uni and i olles ted ihrouch ta rnun t.t the Na lear l a ihts . t' - menhof Am b a=ull uNhaes w as po n hied bs teuerdmg amounn h f M aml/mo%rno > equal to repntuent of dein l pon tetuement of proirny subiest Iunds tonsnt 91 $12h 2 imlhon of unestment sek unties and to depreaanon, the sost of popeny h remmed hom plant M il mdhon ot unh depnih at Durmhei tl,19% and Sil? $ nnt auounh amli harged to tir rnene los depreeunon. along w ah hon of imestment sn.unnes and 517 mdhon of cash depnih at the removal unk net ot sahace Deu mber 11. Iow The unimg ulue of unniment wt unon eli Ibihnps to proude (apual for senewah and icplh emenh appnnimain market on pioped), capital audit ton % a!hl Rhlear luci are H A hhk j m ik f.hh depNt% plImanly mlerest bearmg. al 1)clember 31.19% as t ompany my statemenh n 11peraung Rewn es" and " Pun i and throughout mik h of the y car. were emeird by federal depmiot y sions f oi operanny rewnn ~ l'oder eenerally onepint anount Immante or umegntered LES Gmernment and mumopal secunun ing prWilp!c% capital adddhith ind pfos hhlm tiff fenew ah and heMh) s allomdepalhirle\ hnes!!11cnhilllkt'emIrr 3!,!M % ele repla emenh are not espen,c but Nulusne of mmoi nenh nt m umegntered U S. Gos emment set unnes and I ederal Ayeth 3 obh fin N) l (Uc k bdr[e to ub Nk aNk ros ksimn fler w olkm[ gdbdm hNk! m Ihe }nb KIN bdme hh he Onbhhdi hdnkt t aptal for nudear tu H are not espenso under generally aucpted au ountme p nh ipin unalthe f uel n u ed. Rrnew ah anitiepla<e - menh of prop rty and tantal a.khtiom f undeil tmm ra enno are fully re- ed 31 g ,a w Qi ( $6 . b
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i a 1he Dcht Rewne Account in tric Debt Senice I und and the w ill W asattahk in accordance w uh the NRC decommiwiomng rules , 1J Res.tve Account in the Rewne and Contingency Fund are valued ' to deconunhuon Cooper Nuclear Station at the end of its uwful hfe. wrni annuall) at January I and July I at de lowt'r of unt or market ivi The District w di contiriue to res tew dn* costs and nit thods d bisuhng { accordarne with requiientients of the Nuckar fest lution. Gairn or loswwn s aluatern arc tin luded in mvewnent irs ome, The wcunties as a rvsuti of t hanging corxlitiotis and icquircisents for ikcommtwioti-mg . ['h l( ' f
. in the remammy fuimis n,c salued at etw lower of cost or piiricipal ac , g, ggg gggggg t umount in aumLince with requnenwnts of the Nutleat Remlution. ~
The Nm lear Facihty (onstructmn plan %cludes authori/ation for _< , th RATL COVI N ANT; estimated espendituresof 515.6 milhon tor 1991. These cspeeditures yl
.P Tiw Dntrict is required under the Nudear Resolutuvi to tharge w ill be bdied to participanss acPnw isions for operat my revn es"on ;- .
p rates for ekstric power and energy from the Nuclear Facdtty so that the basis of estimated (ush flow requirements i revenues w di be at kast suff cient to pay sywratmg espenws uprie-
- =
pale debt wrvice on the Nuclear Facibly Revenue lhinds, amounts to M CONTINGl:NCIES: [ We N We of N FWhl Pncednikrwn Act, the _ , be pud mio the Delv Reserve Account and Re ene tuut Contmgency Dewt mbH other ik ensed nuclear power plant ogwrators could each F 1 i und, and all other charges or hens payabk out of resenues of the ?- M W for clacm in urnounts up 10 566,2 tmilmn per unit ow ned Nut kat hicihty.1he debt wrvice pa>nwnts nf the Nuclear i acihiy Resenue Itonds are 5%.3 nulhon per yvar thniugh 1995 and pnneipal in the esent of any nuclear incident icvolving any hcensed facihty in i
- o. pav mentt as a t ompment of debt wrnce paymeost ate $ 16.9 million, the nahon, w ith a maumum of $10.0 millam per > car per irsknt rcr meM i d.
g 5d9 milhon, 5lK=9 nuthon, $20.1 nullum, at $2W inilhon for hw w ould tw liable to lhe District fur one hah'of such awewment under the Power Sales Contract To satisfy the ca h of the years 1941 through 1995, respectnel), obhgatmn, the Dntrict has obtamed a 55.0 milhon ime of credit and 3 (3b POW 1-R sal,l.S CONTRACTS: low a Power has demonstrated its financial mtegrity and revonubihty
- Under terms of a power sales contratI with low a hmer hie,(Iow a for %D milhon.
hmerb the Dntrisi makes asailabk mw-half of the pnxluttion of the As part of a 1989 settlenwnt agreement between GE and the Dn, V Cooper Nuclear Station to lowa hmer with the balance available to i [ the DninctN Eintriv Spiem lowa Power and the DntrictiI:lectric inct, GE has agreed to store at its facdity at Morrit lihnon, the 1,056 spent nuckar fuel as .embhes Imm the first Iw o core loadings at nocost yCy Sptem e,wh on a proportionate share of the noclear fuel costs alwned on energy actually dehveredt plus one-half of all other cosh of the to the Dntrict until May,2002, whkh is the espmuion of the cunent hs lacihtb hvense for the GE facihty, After that date, storage w di be at no cost {_ to the Dninct so long as GE can ma.ntain w ithout cenain adihtional I/lj l he l btnct has aiso agreed to make as ailabk, through ildlectric tosts the NRC heense for the facihty, if after May,2002, storage of tim Splem,121/2 9 of the output of the Cooper Nuckar Station to the itw 1.056 bundks resula in certain, additional costs to UE then the j' Cit; of Lmcoln- District shall be responsible for such costt Such costs would he Q s_, (4) PLANT DECOMMISSIONING COSTS: Punuant to regulatiom promulgated by the Nuclear Regulatory colketed through revenues of the Nuckar l acihty as part of fuel costs. ( EM"
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Comminion t NRCL the Datnet estabbhed in July 19u0, an esternal trust fund wpregated from the Dntricti awels in which unmunts - accumulated to pay inc decommtwionmg costs are to be depaned. M [ , The NRC prewribed minmmm amount to tw accumulated by the b Datnet in said fund for decommiwioning costs, in 1986 dollars is C
. , approsimately $125 4 milhon, This amount dou not indude the cost - SU'
& n e: of n mm al and dngwal of spent fuel or of nonradioactise structures W.y f J. -$.
and materials inond that nnenary to ternnnate the Dntricti oper- # aling twense Ibr purpme of accumulating amounts for compkte hp ji j
# -dismantkment and site restoration of Cooper Nuclear Stanon, the %
Dutnct is esinnatmp the total devommmioning costs in 19MN dollars _ z to be approsimately $3 th milhon. h!Q gf Z,i V h is espected that the cints of decmnminioning will tw funded Q V[ 9 Irom revenue.% certain reserve funds estabhshed under the Nudcar i
- " Remlution, and surplus funds derised from the ou nenhip and opera-J" tmn of the Nuckar I aciht). The Dntrict anucipates sufficient funds C 1 b,-
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- 1 ransmission I acilitiev Miles of 1 ransnuwion L.ine m Senice . . 6.342 Personne': Number of Permanent I;mployees . 2,212 36
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