NOC-AE-03001498, Decommissioning Funding Status Report

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Decommissioning Funding Status Report
ML030900671
Person / Time
Site: South Texas  STP Nuclear Operating Company icon.png
Issue date: 03/26/2003
From: Mallen F
South Texas
To:
Document Control Desk, Office of Nuclear Reactor Regulation
References
G25, NOC-AE-03001498
Download: ML030900671 (14)
v • d • e


Text

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March 26, 2003 NOC-AE-03001498 File No.: G25 10CFR50.75 U. S. Nuclear Regulatory Commission Attention: Document Control Desk One White Flint North 11555 Rockville Pike Rockville, MD 20852 South Texas Project Units 1 and 2 Docket Nos. STN 50-498, STN 50-499 Decommissioning Funding Status Report Pursuant to 10CFR50.75(f), the South Texas Project submits the attached reports on the status of funds available for decommissioning Units 1 and 2. The reports were prepared by the individual co-owners of the South Texas Project:

"* Texas Genco, LP;

"* AEP Texas Central Company;

"* City Public Service Board of San Antonio; and

"* City of Austin - Austin Energy.

The attached reports provide the following information for each co-owner:

"* Estimated amount of decommissioning funds required;

"* Amount accumulated by the end of calendar year 2002;

"* A schedule of the annual amounts remaining to be collected;

"* Assumptions used regarding rates of escalation in decommissioning cost, rates of earnings on decommissioning funds, and rates of other factors used in funding projections;

"* Contracts upon which the owners rely pursuant to 10CFR50.75(e)(1)(v);

"* Modifications to method of providing financial fund assurance; and

"* Material changes to trust agreements.

If there are any questions, please contact me at (361) 972-8085.

Frank H. Mallen General Manager, Attachments:

Financial Support A i (*

1. 2002 Decommissioning Funding Status Report - Texas Genco, LP
2. 2002 Decommissioning Funding Status Report - AEP Texas Central Company
3. 2002 Decommissioning Funding Status Report - City Public Service Board of San Antonio
4. 2002 Decommissioning Funding Status Report - City of Austin - Austin Energy

NOC-AE-03001498 Page 2 of 2 cc:

(paper copy) (electronic copy)

Ellis W. Merschoff A. H. Gutterman, Esquire Regional Administrator, Region IV Morgan, Lewis & Bockius LLP U.S. Nuclear Regulatory Commission 611 Ryan Plaza Drive, Suite 400 L. D. Blaylock/W. C. Gunst Arlington, Texas 76011-8064 City Public Service U. S. Nuclear Regulatory Commission Mohan C. Thadani Attention: Document Control Desk U. S. Nuclear Regulatory Commission One White Flint North 11555 Rockville Pike R. L. Balcom Rockville, MD 20852 Texas Genco, LP Richard A. Ratliff A. Ramirez Bureau of Radiation Control City of Austin Texas Department of Health 1100 West 49th Street C. A. Johnson Austin, TX 78756-3189 AEP Texas Central Company Cornelius F. O'Keefe Jon C. Wood U. S. Nuclear Regulatory Commission Matthews & Branscomb P. O. Box 289, Mail Code: MN116 Wadsworth, TX 77483 C. M. Canady City of Austin Electric Utility Department 721 Barton Springs Road Austin, TX 78704

ATTACHMENT 1 SOUTH TEXAS PROJECT 2002 DECOMMISSIONING FUNDING STATUS REPORT TEXAS GENCO, LP

Attachment 1 NOC-AE-03001498 Page 1 of 2 Texas Genco, LP 30.8% Ownership of South Texas Project Unit 1 NRC Decommissioning Funding Status Report As provided in 10CFR50.75(f)(1), each power reactor licensee is required to report to the NRC on a calendar year basis, beginning on March 31, 1999, and every 2 years thereafter, on the status of its decommissioning funding for each reactor or share of reactor it owns. Please reference the information below for the requested information:

1. The minimum decommissioning fund estimate, pursuant to 10CFR50.75(b) and (c)1 :

Total Required: $109,632,600 Required by 12/31/2002: $35,556,519

2. The amount accumulated at the end of the calendar year preceding the date of the report for items included in 10CFR50.75(b) and (c):

$67,644,241

3. A schedule of the annual amounts remaining to be collected for items in 10CFR50.75(b) and (c):

Amount remaining: $49,548,077 Number of years to collect: 24.6

4. The assumptions used regarding escalation in decommissioning cost, rates of earnings on decommissioning funds, and rates of other factors used in funding projections:

Escalation rate: 3.01%

Earnings rate assumption range: 4.64% to 5.20%

5. Any contracts upon which the licensee is relying pursuant to 10CFR50.75(e)(1)(v):

None

6. Any modifications to a licensee's current method of providing financial assurance occurring since the last submitted report:

None

7. Any material changes to trust agreements:

The trust agreement was assigned by Reliant Energy, Incorporated, to Texas Genco, LP. In connection with the assignment, the agreement was amended and restated.

'The NRC formulas in section 10CFR50.75(c) include only those decommissioning costs incurred by licensees to remove a facility or site safely from service, and reduce residual radioactivity to levels that permit: (1) release of the property for unrestricted use and termination of the license; or (2) release of the property under restricted conditions and termination of the license. The cost of dismantling or demolishing non-radiological systems and structures is not included in the NRC decommissioning cost estimates. The costs of managing and storing spent fuel on site until transfer to DOE are not included in the cost formulas.

Attachment 1 NOC-AE-03001498 Page 2 of 2 Texas Genco, LP 30.8% Ownership of South Texas Project Unit 2 NRC Decommissioning Funding Status Report As provided in 10CFR50.75(f)(1), each power reactor licensee is required to report to the NRC on a calendar year basis, beginning on March 31, 1999, and every 2 years thereafter, on the status of its decommissioning funding for each reactor or share of reactor it owns. Please reference the information below for the requested information:

1. The minimum decommissioning fund estimate, pursuant to 10CFR50.75(b) and (c)':

Total Required: $109,632,600 Required by 12/31/2002: $34,620,821

2. The amount accumulated at the end of the calendar year preceding the date of the report for items included in 1 OCFR50.75(b) and (c):

$92,092,412

3. A schedule of the annual amounts remaining to be collected for items in 10CFR50.75(b) and (c):

Amount remaining: $23,134,590 Number of years to collect: 25.9

4. The assumptions used regarding escalation in decommissioning cost, rates of earnings on decommissioning funds, and rates of other factors used in funding projections:

Escalation rate: 3.01%

Earnings rate assumption range: 4.64%-5.20%

5. Any contracts upon which the licensee is relying pursuant to 10CFR50.75(e)(1)(v):

None

6. Any modifications to a licensee's current method of providing financial assurance occurring since the last submitted report:

None

7. Any material changes to trust agreements:

The trust agreement was assigned by Reliant Energy, Incorporated, to Texas Genco, LP. In connection with the assignment, the agreement was amended and restated.

'The NRC formulas in section 10CFR50.75(c) include only those decommissioning costs incurred by licensees to remove a facility or site safely from service, and reduce residual radioactivity to levels that permit: (1) release of the property for unrestricted use and termination of the license; or (2) release of the property under restricted conditions and termination of the license. The cost of dismantling or demolishing non-radiological systems and structures is not included in the NRC decommissioning cost estimates. The costs of managing and storing spent fuel on site until transfer to DOE are not included in the cost formulas.

A'TACHMENT 2 SOUTH TEXAS PROJECT 2002 DECOMMISSIONING FUNDING STATUS REPORT AEP TEXAS CENTRAL COMPANY

Attachment 2 NOC-AE-03001498 Page 1 of 2 AEP Texas Central Company 25.2% Ownership of South Texas Project Unit 1 NRC DECOMMISSIONING FUNDING STATUS REPORT As provided in 10CFR50.75(f)(1), each power reactor licensee is required to report to the NRC on a calendar year basis, beginning on March 31, 1999, and every 2 years thereafter, on the status of its decommissioning funding for each reactor or share of reactor it owns. Please reference the information below for the requested information:

1. The minimum decommissioning fund estimate, pursuant to 10CFR50.75(b) and (c)1 :

Total Required: $89,831,700 Required by 12/31/2002: $29,134,605

2. The amount accumulated at the end of the calendar year preceding the date of the report for items included in 10CFR50.75(b) and (c):

$44,495,556

3. A schedule of the annual amounts remaining to be collected for items in 10CFR50.75(b) and (c):

Amount remaining: $84,007,834 Number of years to collect: 25

4. The assumptions used regarding escalation in decommissioning cost, rates of earnings on decommissioning funds, and rates of other factors used in funding projections:

Escalation factor: 4.18%

Net earnings rate (after taxes and fees): 5.76%

(These percentages are based upon AEP Texas Central's most recent rate case.)

5. Any contracts upon which the licensee is relying pursuant to 10CFR50.75(e)(1)(v):

No contracts. The source of funds for the external decommissioning fund is cost-of-service regulation.

6. Any modifications to a licensee's current method of providing financial assurance occurring since the last submitted report:

None

7. Any material changes to trust agreements:

None

'The NRC formulas in section 10CFR50.75(c) include only those decommissioning costs incurred by licensees to remove a facility or site safely from service, and reduce residual radioactivity to levels that permit: (1) release of the property for unrestricted use and termination of the license; or (2) release of the property under restricted conditions and termination of the license. The cost of dismantling or demolishing non-radiological systems and structures is not included in the NRC decommissioning cost estimates. The costs of managing and storing spent fuel on site until transfer to DOE are not included in the cost formulas.

Attachment 2 NOC-AE-03001498 Page 2 of 2 AEP Texas Central Company 25.2% Ownership of South Texas Project Unit 2 NRC DECOMMISSIONING FUNDING STATUS REPORT As provided in 10CFR50.75(f)(1), each power reactor licensee is required to report to the NRC on a calendar year basis, beginning on March 31, 1999, and every 2 years thereafter, on the status of its decommissioning funding for each reactor or share of reactor it owns. Please reference the information below for the requested information:

1. The minimum decommissioning fund estimate, pursuant to 10CFR50.75(b) and (c)':

Total Required: $89,831,700 Required by 12/3112002: $28,367,905

2. The amount accumulated at the end of the calendar year preceding the date of the report for items included in 10CFR50.75(b) and (c):

$53,941,428

3. A schedule of the annual amounts remaining to be collected for items in 10CFR50.75(b) and (c):

Amount remaining: $120,195,738 Number of years to collect: 26

4. The assumptions used regarding escalation in decommissioning cost, rates of earnings on decommissioning funds, and rates of other factors used in funding projections:

Escalation factor: 4.18%

Net earnings rate (after taxes and fees): 5.76%

(These percentages are based upon AEP Texas Central's most recent rate case).

5. Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v):

No contracts. The source of funds for the external decommissioning fund is cost-of-service regulation.

6. Any modifications to a licensee's current method of providing financial assurance occurring since the last submitted report:

None

7. Any material changes to trust agreements:

None

'The NRC formulas in section 10CFR50.75(c) include only those decommissioning costs incurred by licensees to remove a facility or site safely from service, and reduce residual radioactivity to levels that permit: (1) release of the property for unrestricted use and termination of the license; or (2) release of the property under restricted conditions and termination of the license. The cost of dismantling or demolishing non-radiological systems and structures is not included in the NRC decommissioning cost estimates. The costs of managing and storing spent fuel on site until transfer to DOE are not included in the cost formulas.

ATTACHMENT 3 SOUTH TEXAS PROJECT 2002 DECOMMISSIONING FUNDING STATUS REPORT CITY PUBLIC SERVICE OF SAN ANTONIO

Attachment 3 NOC-AE-03001498 Page 1 of 2 City Public Service of San Antonio 28% Ownership of South Texas Project Unit 1 NRC Decommissioning Funding Status Report As provided in 10 CFR 50.75(f)(1), each power reactor licensee is required to report to the NRC on a calendar year basis, beginning on March 31, 1999, and every 2 years thereafter, on the status of its decommissioning funding for each reactor or share of reactor it owns. Please reference the information below for the requested information:

1. The minimum decommissioning fund estimate, pursuant to 10CFR50.75(b) and (c)':

Total Required: $107,898,000 Required by 12/31/2002: $34,993,946

2. The amount accumulated at the end of the calendar year preceding the date of the report for items included in 1 OCFR50.75(b) and (c):

$82,810,459

3. A schedule of the annual amounts remaining to be collected for items in 10CFR50.75(b) and (c):

Amount remaining: $183,075,000 Number of years to collect: 25

4. The assumptions used regarding escalation in decommissioning cost, rates of earnings on decommissioning funds, and rates of other factors used in funding projections:

Escalation rate: 6.36%

Earning rate assumption range: 4.78% to 6.76%

5. Any contracts upon which the licensee is relying pursuant to 10CFR50.75(e)(1)(v):

None

6. Any modifications to a licensee's current method of providing financial assurance occurring since the last submitted report:

None

7. Any material changes to trust agreements:

None 1 The NRC formulas in section 10CFR50.75(c) include only those decommissioning costs incurred by licensees to remove a facility or site safely from service, and reduce residual radioactivity to levels that permit: (1) release of the property for unrestricted use and termination of the license; or (2) release of the property under restricted conditions and termination of the license. The cost of dismantling or demolishing non-radiological systems and structures is not included in the NRC decommissioning cost estimates. The costs of managing and storing spent fuel on site until transfer to DOE are not included in the cost formulas.

Attachment 3 NOC-AE-03001498 Page 2 of 2 City Public Service of San Antonio 28% Ownership of South Texas Project Unit 2 NRC Decommissioning Funding Status Report As provided in 10 CFR 50.75(f)(1), each power reactor licensee is required to report to the NRC on a calendar year basis, beginning on March 31, 1999, and every 2 years thereafter, on the status of its decommissioning funding for each reactor or share of reactor it owns. Please reference the information below for the requested information:

1. The minimum decommissioning fund estimate, pursuant to 10CFR50.75(b) and (c)':

Total Required: $107,898,000 Required by 12/31/2002: $34,073,053

2. The amount accumulated at the end of the calendar year preceding the date of the report for items included in 10CFR50.75(b) and (c):

$100,349,428

3. A schedule of the annual amounts remaining to be collected for items in 10CFR50.75(b) and (c):

Amount remaining: $224,406,000 Number of years to collect: 26

4. The assumptions used regarding escalation in decommissioning cost, rates of earnings on decommissioning funds, and rates of other factors used in funding projections:

Escalation rate: 6.36%

Earning rate assumption range: 4.78% to 6.76%

5. Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v):

None

6. Any modifications to a licensee's current method of providing financial assurance occurring since the last submitted report:

None

7. Any material changes to trust agreements:

None 1 The NRC formulas in section 10CFR50.75(c) include only those decommissioning costs incurred by licensees to remove a facility or site safely from service, and reduce residual radioactivity to levels that permit: (1) release of the property for unrestricted use and termination of the license; or (2) release of the property under restricted conditions and termination of the license. The cost of dismantling or demolishing non-radiological systems and structures is not included in the NRC decommissioning cost estimates. The costs of managing and storing spent fuel on site until transfer to DOE are not included in the cost formulas.

ATTACHMENT 4 SOUTH TEXAS PROJECT 2002 DECOMMISSIONING FUNDING STATUS REPORT CITY OF AUSTIN - AUSTIN ENERGY

Attachment 4 NOC-AE-03001498 Page 1 of 2 City of San Austin - Austin Energy 16% Ownership of South Texas Project Unit 1 NRC Decommissioning Funding Status Report As provided in 10CFR50.75(f)(1), each power reactor licensee is required to report to the NRC on a calendar year basis, beginning on March 31, 1999, and every 2 years thereafter, on the status of its decommissioning funding for each reactor or share of reactor it owns. Please reference the information below for the requested information:

1. The minimum decommissioning fund estimate, pursuant to 10CFR50.75(b) and (c)':

Total Required: $57,078,542 Required by 12/31/2002: $18,511,960

2. The amount accumulated at the end of the calendar year preceding the date of the report for items included in 1 OCFR50.75(b) and (c):

$40,010,174

3. A schedule of the annual amounts remaining to be collected for items in 10CFR50.75(b) and (c):

Amount remaining: $50,436,404 Number of years to collect: 24.5

4. The assumptions used regarding escalation in decommissioning cost, rates of earnings on decommissioning funds, and rates of other factors used in funding projections:

Escalation rate: 5.17%

Earnings rate: 6.70%

5. Any contracts upon which the licensee is relying pursuant to 10CFR50.75(e)(1)(v):

None

6. Any modifications to a licensee's current method of providing financial assurance occurring since the last submitted report:

None

7. Any material changes to trust agreements.

No material changes, external trust agreement services have been extended through October 10, 2005.

1 The NRC formulas in section 10CFR50.75(c) include only those decommissioning costs incurred by licensees to remove a facility or site safely from service, and reduce residual radioactivity to levels that permit: (1) release of the property for unrestricted use and termination of the license; or (2) release of the property under restricted conditions and termination of the license. The cost of dismantling or demolishing non-radiological systems and structures is not included in the NRC decommissioning cost estimates. The costs of managing and storing spent fuel on site until transfer to DOE are not included in the cost formulas.

Attachment 4 NOC-AE-03001498 Page 2 of 2 City of San Austin - Austin Energy 16% Ownership of South Texas Project Unit 2 NRC Decommissioning Funding Status Report As provided in 10CFR50.75(f)(1), each power reactor licensee is required to report to the NRC on a calendar year basis, beginning on March 31, 1999, and every 2 years thereafter, on the status of its decommissioning funding for each reactor or share of reactor it owns. Please reference the information below for the requested information:

1. The minimum decommissioning fund estimate, pursuant to 10CFR50.75(b) and (c)':

Total Required: $57,078,542 Required by 12/31/2002: $18,024,803

2. The amount accumulated at the end of the calendar year preceding the date of the report for items included in 10CFR50.75(b) and (c):

$48,377,561

3. A schedule of the annual amounts remaining to be collected for items in 10CFR50.75(b) and (c):

Amount remaining: $75,389,380 Number of years to collect: 26

4. The assumptions used regarding escalation in decommissioning cost, rates of earnings on decommissioning funds, and rates of other factors used in funding projections:

Escalation rate: 5.17%

Earnings rate: 6.70%

5. Any contracts upon which the licensee is relying pursuant to 10CFR50.75(e)(1)(v):

None

6. Any modifications to a licensee's current method of providing financial assurance occurring since the last submitted report:

None

7. Any material changes to trust agreements:

No material changes, external trust agreement services have been extended through October 10, 2005.

1The NRC formulas in section 10CFR50.75(c) include only those decommissioning costs incurred by licensees to remove a facility or site safely from service, and reduce residual radioactivity to levels that permit: (1) release of the property for unrestricted use and termination of the license; or (2) release of the property under restricted conditions and termination of the license. The cost of dismantling or demolishing non-radiological systems and structures is not included in the NRC decommissioning cost estimates. The costs of managing and storing spent fuel on site until transfer to DOE are not included in the cost formulas.

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