NRC-07-0059, Price-Anderson Act Guarantee of Payment of Deferred Premiums

Price-Anderson Act Guarantee of Payment of Deferred Premiums

ML073460035
Person / Time
Site:	Fermi
Issue date:	11/28/2007
From:	Gaston R Detroit Edison
To:	Document Control Desk, Office of Nuclear Reactor Regulation
References
NRC-07-0059
Download: ML073460035 (3)

Text

Fermi 2 6400 North DMde Hiy, Newport, Mi 48106 Detroit Edison 10 CFR 140.21 November 28, 2007 NRC-07-0059 Director, Office of Nuclear Reactor Regulation U. S. Nuclear Regulatory Commission Attention: Document Control Desk Washington D C 20555-0001

Reference:

Fermi 2 NRC Docket No. 50-341 NRC Operating License No. NPF-43

Subject:

Price-Anderson Act Guarantee of Payment of Deferred Premiums Enclosed please find Consolidated Statements of Cash Flows as of December 31, 2006 (AUDITED) and September 30, 2007 (UNAUDITED). These statements have been prepared in accordance with Generally Accepted Accounting Principals (GAAP) and the Secondary Financial Protection section of the amended Price-Anderson Act.

Should you have any questions or require additional information, please contact me at (734) 586-5197.

Sincerely, Ronald W. Gaston Manager - Nuclear Licensing Enclosures cc: Ira P. Dinitz NRC Project Manager NRC Resident Office Reactor Projects Chief, Branch 4, Region III Regional Administrator, Region III Supervisor, Electric Operators, Michigan Public Service Commission

ýWoq A DTE Energy Company

AZ_~ of Contents The Detroit Edison Company Consolidated Statement of Cash Flows Year Ended December 31 (in Millions) 2006 2005 2004 Operating Activities Net Income $ 321 $ 274 $ 150 Adjustments to reconcile net income to net cash from operating activities:

Depreciation and amortization 812 640 523 Deferred income taxes 2 40 142 Gain on sale of assets (6) (26) (1)

Cumulative effect of accounting change (1) 3 -

Changes in assets and liabilities, exclusive of changes shown separately (Note 1) (213) 98 376 Net cash from operating activities 915 1,029 1,190 Investing Activities Plant and equipment expenditures (972) (722) (702)

Proceeds from sale of assets, net 28 30 Restricted cash for debt redemptions (48) (9) 6 Notes receivable from affiliate -85 (78)

Proceeds from sale of nuclear decommissioning trust fund assets 253 201 254 Investment in nuclear decommissioning trust funds (284) (235) (287)

Other investments' (29) (71) (33)

Net cash used for investing activities (1,052) (721) (839)

Financing Activities Issuance of long-term debt 314 857 266 Redemption of long-term debt, (126) (997) (206)

Short-term borrowings, net 114 163 (100)

Capital contribution by parent company 150 - -

Dividends on common stock (305) (305) (303)

Other (9) (6) (8)

Net cash from (used for) financing activities 138 (288) (351)

Net Increase in Cash and Cash Equivalents 1 20 -

Cash and Cash Equivalents at Beginning of the Period 26 6 6 Cash and Cash Equivalents at End of the Period $ 27 $ 26 $ 6 See Notes to Consolidated Financial Statements 22

le"*°"ble of Contents The Detroit Edison Company Consolidated Statements of Cash Flows (Unaudited)

Nine Months Ended September30 2007 2006 (in Millions)

Operating Activities Net Income S 207 S 254 Adjustments to reconcile net income to net cash from operating activities:

Depreciation and amortization 583 646 Deferred income taxes (191) 31 Asset (gains) and reserves, net 12 (1)

Changes in assets and liabilities, exclusive of changes shown separately 367 (252)

Net cash from operating activities 978 678 Investing Activities Plant and equipment expenditures (598) (735)

Proceeds from sale of assets, net - 22 Restricted cash for debt redemptions 45 43 Proceeds from sale of nuclear decommissioning triist fund assets 227 136 Investment in nuclear decommissioning trust funds (254) (163)

Notes receivable from affiliates (139) -

Other investments (16) (12 Net cash used for investing activities (735) (709 Financing Activities Issuance of long-term debt - 247 Redemption of long-term debt (132) (123)

Short-term borrowings, net (37) (16)

Capital contribution by parent company 175 150 Dividends on common stock (228) (229)

Other L.. ()

Net cash from (used for) financing activities (227) 23 Net Increase (Decrease) in Cash and Cash Equivalents 16 (8)

Cash and Cash Equivalents at Beginning of the Period 27 26 Cash and Cash Equivalents at End of the Period S 43 5 18 See Notes to Consolidated Financial Statements (Unaudited)

II Source: DETROIT EDISON CO, 10-Q, November 13, 2007