NRC-08-0073, Price-Anderson Act Guarantee of Payment of Deferred Premiums

Price-Anderson Act Guarantee of Payment of Deferred Premiums

ML083440313
Person / Time
Site:	Fermi
Issue date:	11/26/2008
From:	Rachel Johnson Detroit Edison
To:	Document Control Desk, Office of Nuclear Reactor Regulation
References
NRC-08-0073
Download: ML083440313 (3)

Text

Fermi 2 6400 North Dixie Hffy., Newport, M148166 Detroit Edison 10 CFR 140.21 November 26, 2008 NRC-08-0073 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, 2007 (AUDITED) and September 30, 2008 (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) 586-5076.

Sincerely, Rodney W. Johnson 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 DO A DTE Energy Company

Table of Contents THlE DETROIT EDISON COMPANY CONSOLIDATED STATEMENTS OF CASH FLOWS Year Ended December 31 (in Millions) 2007 2006 2005 Operating Activities Net income $ 317 $ 321 $ 274 Adjustments to reconcile net income to net cash from operating activities:

Depreciation and amortization 764 812 .640 Deferred income taxes (111) 2 40 Asset (gains) and reserves, net 8 (6) (26)

Cumulative effect of accounting change (1) 3 Changes in assets and liabilities, exclusive of changes shown separately (Note 1) (213) (213) 98 Net cash from operating activities 765 915 1,029 Investing Activities.

Plant and equipment expenditures (809) (972) (722)

Proceeds from sale of assets, net 3 28 30 Restricted cash for debt redemptions (3) (48) (9)

Notes receivable from affiliate 85 Proceeds from sale of nuclear decommissioning trust fund assets 286 253 201 Investment in nuclear decommissioning trust funds (323) (284) (235)

Other investments (33) (29) (71)

Net cash used for investing activities (879) (1,052) (721)

Financing Activities Issuance of long-term debt 50 314 857 Redemption of long-term debt (185) (126) (997)

Short-term borrowings, net 129 114 163 Short-term borrowings from affiliate 277 Capital contribution by parent company 175 150 Dividends on common stock (305) (305) (305)

Other (7) (9) (6)

Net cash from (used for) financing activities 134 138 (288)

Net Increase in Cash and Cash Equivalents 20 1 20 Cash and Cash Equivalents at Beginning of the Period 27 26 6 Cash and Cash Equivalents at End of the Period $ 47 $ 27 $ 26 See Notes to Consolidated Financial Statements

Table of Contents THE DETROIT EDISON COMPANY CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

Nine Months Ended September 30 (in Millions) 2008 '2007

,kperagnACtiv1tie9 -? _____________

Net Incmn C O Pe *2 S 251 $ 207 Depreciation and amortization 563 583 Asset (gains) and reserves, net . ... ( 12 Net cash from operating activities 850 978 Plant and equipment expenditures (651) 5 Restfited~~ibreteisitn c- .77777 7777 101

[I-45j Proceeds from sale of nuclear decommissioning trust fund assets 180 227 4kInmen minucr onmtrustfiind. -- , 2aqis Notes receivable from affiliates ( 139)

Otheinvetrnet& -~ T~ 3 T ~ (16)

Net cash used for investing activities (60 (735)

Issuance of long-term debt 566

ýR- 777 - ,-

Repurchase of long-term debt (238____ -

Short-term borrowings - affiliates *_.__(68)______

F7- t - 0 -W'dirbtoi -175 7~15 Dividends on common stock (2 Net cash used for financing activities (199 (227)

Cash and Cash Equivalents at Beginning of the Period 47 27 siand&CasWii -quivalentsat End ofthe-Period: - - .--793 .. -

Source: DETROIT EDISON CO, 10-Q, November 14, 2008