NRC-22-0051, DTE Electric Company - Guarantee of Payment of Deferred Premiums

DTE Electric Company - Guarantee of Payment of Deferred Premiums

ML22333A825
Person / Time
Site:	Fermi
Issue date:	11/29/2022
From:	Frank E DTE Electric Company
To:	Office of Nuclear Reactor Regulation, Document Control Desk
References
NRC-22-0051
Download: ML22333A825 (1)

Text

DTE Electric Company 6400 N. Dixie Highway Newport, MI 48166 10 CFR 140.21 November 29, 2022 NRC-22-0051 Attention: Document Control Desk U.S. Nuclear Regulatory Commission Washington, DC 20555-0001 Fermi 2 Power Plant NRC Docket No. 50-341 NRC License No. NPF-43

Subject:

Guarantee of Payment of Deferred Premiums Pursuant to the requirements of 10 CFR 140.21, DTE Electric Company hereby submits the enclosed DTE Energy Company Consolidated Statements of Cash Flows for three years ending December 31, 2021 (audited) and for the 9 months ending September 30, 2022 (unaudited).

These statements have been prepared in accordance with Generally Accepted Accounting Principles (GAAP) and satisfy the guarantee of payment of deferred premium requirement in accordance with 10 CFR 140.21(e).

No new commitments are being made in this submittal.

Should you have any questions or require additional information, please contact me at (734) 586-4772.

Sincerely, Eric W. Frank Manager - Nuclear Licensing

Enclosures:

1) DTE Energy Company Consolidated Statements of Cash Flows for three years ending December 31, 2021 (audited)

2) DTE Energy Company Consolidated Statements of Cash Flows for the 9 months ending September 30, 2022 (unaudited) cc: NRC Project Manager NRC Resident Office Regional Administrator, Region III DTE to NRC-22-0051 Fermi 2 NRC Docket No. 50-341 Operating License No. NPF-43 DTE Energy Company Consolidated Statements of Cash Flows for three years ending December 31, 2021 (audited) to NRC-22-0051 Page 1 of 2 Operating Activities Net Income Adjustments to reconcile Net Income to Net cash from operating activities:

Depreciation and amortization Nuclear fuel amortization Allowance for equity funds used during construction Deferred income taxes Equity earnings of equity method investees Dividends from equity method investees Loss on extinguishment of debt Asset (gains) losses and impairments, net Changes in assets and liabilities:

Accounts receivable, net Inventories Prepaid postretirement benefit costs Accounts payable Accrued pension liability Accrued postretirement liability Derivative assets and liabilities Regulatory assets and liabilities Other current and noncurrent assets and liabilities Net cash from operating activities Investing Activities Plant and equipment expenditures -

utility Plant and equipment expenditures -

non-utility Acquisitions related to business combinations, net of cash acquired Proceeds from sale of assets Proceeds from sale of nuclear decommissioning trust fund assets Investment in nuclear decommissioning trust funds Distributions from equity method investees Contributions to equity method investees Notes receivable Other Net cash used for investing activities DTE Energy Company Consolidated Statements of Cash Flows 2021 See Combined Notes to Consolidated Financial Statements 903 1,459 58 (27)

(32)

(97) 79 393 50 (146)

(153)

(117) 308 (458)

(49) 187 862 (153) 3,067 (3,633)

(139) 3 1,047 (1,046) 18 (8)

(74)

(31)

(3,863)

Year Ended December 31, 2020 2019 (In millions) 1,371 1,172 1,443 1,263 37 60 (25)

(24) 407 329 (132)

(111) 142 160 6

47 14 111 49 45 59 (107)

(24)

(288)

(11)

(29) 22 (23)

(28) 104 160 260

!113) 3,697 2,649 (3,241)

(2,724)

(616)

(273)

(126)

(2,470) 13 2,350 788 (2,350)

(794) 24 10 (37)

(149)

(85)

(98)

(2 (22)

(4,070)

(5,732) to NRC-22-0051 Page 2 of 2 DTE Energy Company Consolidated Statements of Cash Flows -

(Continued)

Financing Activities Issuance oflong-term debt, net of issuance costs Redemption oflong-term debt Issuance of equity units, net of issuance costs Short-term borrowings, net Issuance of common stock Repurchase of common stock Dividends paid on common stock Contributions from noncontrolling interests, principally REF entities Distributions to noncontrolling interests Purchases of noncontrolling interest, principally SGG Acquisition related deferred payment, excluding accretion Prepayment cost for extinguishment oflong-term debt Transfer of cash to DT Midstream at separation Other Net cash from financing activities Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash Cash, Cash Equivalents, and Restricted Cash at Beginning of Period Cash, Cash Equivalents, and Restricted Cash at End of Period Supplemental disclosure of cash information Cash paid (received) for:

Interest, net of interest capitalized Income taxesC*l Supplemental disclosure of non-cash investing and fmancing activities Plant and equipment expenditures in accounts payable Separation ofDT Midstream net assets, excluding cash transferred Premium on equity units 2021 (a) 2020 cash received primarily relates to AMT credit and other refunds, of which a portion was accelerated due to the CARES Act See Combined Notes to Consolidated Financial Statements 4,457 (3,522) 720 (66)

(791) 44 (45)

(361)

(37)

(84) 315 (481) 516 35 671 (3) 353 3,973 Year Ended December 31, 2020 2019 (In millions) 3,692 2,506 (882)

(821) 1,265 (790) 219 2

1,023 (760)

(692) 36 38 (39)

(59)

(300)

(380)

(83)

(79) 796 3,100 423 17 93 76 516 93 679 595 (360) $

18 266 311 150 to NRC-22-0051 Fermi 2 NRC Docket No. 50-341 Operating License No. NPF-43 DTE Energy Company Consolidated Statements of Cash Flows for the 9 months ending September 30, 2022 (unaudited)

Table of Contents DTE Energy Company Consolidated Statements of Cash Flows (Unaudited)

Operating Activities Net Income Adjustments to reconcile Net Income to Net cash from operating activities:

Depreciation and amortization Nuclear fuel amortization Allowance for equity funds used during construction Deferred income taxes Equity (earnings) losses of equity method investees Dividends from equity method investees Loss on extinguishment of debt Asset (gains) losses and impairments, net Changes in assets and liabilities:

Accounts receivable, net Inventories Prepaid postretirement benefit costs Accounts payable Accrued pension liability Accrued postretirement liability Derivative assets and liabilities Regulatory assets and liabilities Other current and noncurrent assets and liabilities Net cash from operating activities Investing Activities Plant and equipment expenditures -

utility Plant and equipment expenditures -

non-utility Proceeds from sale of assets Proceeds from sale of nuclear decommissioning trust fund assets Investment in nuclear decommissioning trust funds Distributions from equity method investees Contributions to equity method investees Notes receivable Other Net cash used for investing activities Financing Activities Issuance of long-term debt, net of discount and issuance costs Redemption oflong-term debt Short-term borrowings, net Repurchase of common stock Dividends paid on common stock Contributions from noncontrolling interests Distributions to noncontrolling interests Prepayment costs for extinguishment of long-term debt Transfer of cash to DT Midstream at separation Other Net cash from (used for) financing activities Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash Cash, Cash Equivalents, and Restricted Cash at Beginning of Period Cash, Cash Equivalents, and Restricted Cash at End of Period Supplemental disclosure of non-cash investing and financing activities Plant and equipment expenditures in accounts payable Separation of DT Midstream net assets, excluding cash transferred Nine Months Ended September 30, 2022 2021 (In millions) 818 598 1,093 1,092 26 44 (20)

(20) 15 (36) 15 (90) 4 78 384 (4) 46 (150)

(8)

(204)

(209)

(60)

(59) 228 225 (71)

(65)

(8)

(9) 77 309 (552) 270 205 (178) 1,412 2,372 (2,342)

(2,591)

(55)

(109) 4 2

707 854 (710)

(853) 11 II (12)

(7)

(13)

(65)

(43)

(22)

(2,453)

(2,780) 1,771 4,033 (316)

(3,242) 236 323 (55)

(66)

(514)

(631) 3 35 (5)

(33)

(361)

(37)

(63)

(73) 1,057 (52) 16 (460) 35 516 51 56 331 386 3,962 See Combined Notes to Consolidated Financial Statements (Unaudited) 9 to NRC-22-0051 Page 1 of 1