RS-05-035, Report on Status of Decommissioning Funding for Reactors
| ML050840550 | |
| Person / Time | |
|---|---|
| Site: | Dresden, Peach Bottom, Salem, Oyster Creek, Byron, Braidwood, Limerick, Clinton, Quad Cities, Zion, LaSalle, Crane  |
| Issue date: | 03/24/2005 |
| From: | Jamie Benjamin AmerGen Energy Co, Exelon Generation Co, Exelon Nuclear |
| To: | Document Control Desk, NRC/FSME |
| References | |
| +sispjld120050520, RS-05-035 | |
| Download: ML050840550 (9) | |
Text
RS-05-035 npany LLC D555 March 24, 2005 www.exeloncorp.com U.S. Nuclear Regulatory Commission ATTN : Document Control Desk Washington, DC 20555-0001 Braidwood Station, Units 1 and 2 Facility Operating License Nos. NPF-72 and NPF-77 NRC Docket Nos. STN 50-456 and STN 50-457 Byron Station, Units 1 and 2 Facility Operating License Nos. NPF-37 and NPF-66 NRC Docket Nos. STN 50-454 and STN 50-455 Clinton Power Station Facility Operating License No. NPF-62 NRC Docket No. 50-461 LaSalle County Station, Units 1 and 2 Facility Operating License Nos. NPF-1 1 and NPF-1 8 NRC Docket Nos. 50-373 and 50-374 Limerick Generating Station, Units 1 and 2 Facility Operating License Nos. NPF-39 and NPF-85 NRC Docket Nos. 50-352 and 50-353 Oyster Creek Generating Station Facility Operating License No. DPR-16 NRC Docket No. 50-219 Peach Bottom Atomic Power Station, Units 1, 2, and 3 Facility Operating License No. DPR-12 Renewed Facility Operating License Nos. DPR-44 and DPR-56 NRC Docket Nos. 50-171, 510-277, and 50078 Salem Generating Station, Units 1 and 2 Facility Operating License Nos. DPR-70 and DPR-75 NRC Docket Nos. 50-272 and 50-311 10 CFR 50.75(f)(1)
Dresden Nuclear Power Station, Units 1, 2 and 3 Renewed Facility Operating License Nos. DPR-2, DPR-19 and DPR-25 N RC Docket Nos. 50-10 1 50237 and 50049 Ex 1<
i Generation 4300 MUM Road WwrevAd, IL 6055
March 24, 2005 U
. S. Nuclear Regulatory Commission Page 2 Quad Cities Nuclear Power Station, Units 1 and 2 Renewed Facility Operating License Nos. DPR-29 and DPR-30 NRC Docket Nos. 50-254 and 50-265 Three Mile Island Nuclear Station, Unit 1 Facility Operating License No. DPR-50 NRC Docket No. 50-289 Zion Nuclear Power Station, Units 1 and 2 Facility Operating License Nos. DPR-39 and DPR-48 NRC Docket Nos. 50-295 and 50-304 Subject :
Report on Status of Decommissioning Funding for Reactors
Reference:
Letter from J. J. McNulty (Pennsylvania Public Utility Commission),
"Approval of Restructuring Plan for PECO Energy Company under Section 2806 of the Public Utility Code ; Docket No. R-00973953," to B. D. Crowe (PECO Energy Company) dated May 3, 2001 In accordance with 10 CFR 50.75, "Reporting and recordkeeping for decommissioning planning," paragraph (f)(1), we are submitting a report on the status of decommissioning funding for the reactors owned by Exelon Generation Company, LLC (EGC) and AmerGen Energy Company, LLC (AmerGen). contains the amount of decommissioning funds for the operating reactors estimated to be required pursuant to 10 CFR 50.75(b) and (c), and for the permanently shutdown reactors based on site-specific decommissioning cost estimates. These decommissioning cost estimates do not include the costs of dismantling non-radiological systems and structures or the costs of managing and storing spent fuel onsite. contains the amount of decommissioning funds accumulated through December 31, 2004. Attachment 3 contains a schedule of annual amounts to be collected through the final year of collection. With respect to each of the above units, there are no contracts relied upon pursuant to 10 CFR 50.75(e)(1 }(v}, nor have there been any material changes to the trust agreements.
Additional information regarding assumptions used for decommissioning cost escalation roes and hut fund earnings rates and the method of providing financial assurance is included below.
Byron Station, Braidwood Station, Dresden Nuclear Power Station, LaSalle County Station, Quad Cities Nuclear Power Station, and Zion Nuclear Power Station For each of these stations, the rate of escalation assumed in decommissioning costs is 4.09%. The rate of earnings assumed on the tax qualified decommissioning funds is 7.49%. The rate of earnings assumed on the non-tax qualified decommissioning funds is 6.83%. The Illinois Commerce Commission (ICC) approved the above escalation and
March 24, 2005 U. S. Nuclear Regulatory Commission Page 3 earnings rates in its Amended Order, dated February 21, 2001, in Docket No. 000361, "Commonwealth Edison Company, Petition for Approval of a Revised Decommissioning Expense Adjustment Rider." Financial assurance for decommissioning these reactors continues to be provided by the external sinking fund method in accordance with 10 CFR 50.75(e)(1)(ii). The funding mechanism being used as the source of revenues for the external sinking funds is a cot of service charge approved by the ICC authorizing Commonwealth Edison Company to continue to collect decommissioning funds for EGC.
Limerick Generating Station, Peach Bottom Atomic Power Station, and Salem Generating Station For each of these stations, the rate of escalation assumed in decommissioning costs is approximately 3.5%. The rate of earnings assumed on the decommissioning funds is 6.5%. As documented in the referenced letter, the Pennsylvania Public Utility Commission (PaPUC) approved these escalation and earnings rates as part of the approval of the restructuring plan for PECO Energy Company. Financial assurance for decommissioning these reactors continues to be provided by the external sinking fund method in accordance with 10 CFR 50.75(e)(1)(ii). The funding mechanism being used as the source of revenues for the external sinking funds is a non-bypassable charge approved by the PaPUC authorizing PECO Energy Company to continue to collect decommissioning funds for EGC.
Clinton Power Station, Oyster Creek Nuclear Generating Station, and Three Mile Island Nuclear Station, Unit 1 For each of these stations, a 2.0% annual real rate of return is being assumed on the decommissioning trust funds. Financial assurance for decommissioning continues to be provided by the prepayment method, coupled with an external trust fund, in accordance with 10 CFR 50.75(e)(1)(i).
If you have any questions about this letter, please contact Y A. Bauer, Manager --
Licensing, at (630) 657-2801.
Respectfully, JeM y
?
A-
. Benjamin Vice President - Licensing and Regulatory Affairs Exelon Generation Company, LLC AmerGen Energy Company, LLC Attachments
ATTACHMENT I AMOUNT OF DECOMMISSIONING FUNDS ESTIMATED TO BE REQUIRED")12)
Reactor
$, in millions Braidwood Station, Unit 1 35&5 Braidwood Station, Unit 2 35&5 Byron Station, Unit 1 35&5 Byron Station, Unit 2 35&5 Clinton Power Station 437.2 Dresden Nuclear Power Station, Unit 1 201 0(3)
Dresden Nuclear Power Station, Unit 2 427.0 Dresden Nuclear Power Station, Unit 3 427.0 LaSalle County Station, Unit 1 441.4 LaSalle County Station, Unit 2 441.4 Limerick Generating Station, Unit 1 443.0 Limerick Generating Station, Unit 2 4410 Oyster Creek Nuclear Generating Station 370.1 PA)
Peach Bottom Atomic Power Station, Unit 1 14Z9(3)
Peach Bottom Atomic Power Station, Unit 2 22Q)
Peach Bottom Atomic Power Station, Unit 3 22Q')
Quad Cities Nuclear Power Station, Unit 1 320.315 >
Quad Cities Nuclear Power Station, Unit 2 32K')
Salem Generating Station, Unit 1 150.5 1'}
Salem Generating Station, Unit 2 15W)
ATTACHMENT 1 AMOUNT OF DECOMMISSIONING FUNDS ESTIMATED TO BE REQUIRED")12 )
The amount of decommissioning funds for the operating reactors is determined in accordance with 10 CFR 50.75(b) and the applicable formulas in 10 CFR 50.75(c) and is reported in beginning of year 2005 dollars.
(2)
The amount of decommissioning funds for the permanently shutdown reactors is based upon site-specific decommissioning cost estimates and is reported in beginning of year 2005 dollars.
This amount reflects the radiological-only funds required for those units utilizing site-specific decommissioning cost estimates reported in beginning of year 2005 dollars.
(4)
The site-specific, radiological-only, Delayed DECON preliminary cost estimate for Oyster Creek is $441.6 million before adjusting for growth of the trust funds through the decommissioning period.
Since Exelon Generation Company, LLC is a 50% owner of Peach Bottom Atomic Power Station, Units 2 and 3, the value shown is 50% of the amount estimated to be required pursuant to 10 CFR 50.75(b) and (c). The other licensee, PSEG Nuclear, LLC, is submitting decommissioning funding information separately for its 50%
ownership interest.
(6)
Since Exelon Generation Company, LLC is a 75% owner of Quad Cities Nuclear Power Station, the value shown is 75% of the amount estimated to be required pursuant to 10 CFR 50.75(b) and (c). The other licensee, MidAmerican Energy Company, is submitting decommissioning funding information separately for its 25%
ownership interest.
Since Exelon Generation Company, LLC is a 42.59% owner of Salem Generating Station, the value shown is 42.59% of the amount estimated to be required pursuant to 10 CFR 50.75(b) and (c). The other licensee, PSEG Nuclear, LLC, is submitting decommissioning funding information separately for its 57.41% ownership interest.
Reactor
$, in millions Three Mile Island Nuclear Station, Unit 1 332.5 Zion Nuclear Power Station, Unit 1 313.4(3 )
Zion Nuclear Power Station, Unit 2 345.2(3 )
ATTACHMENT 2 AMOUNT OF DECOMMISSIONING FUNDS ACCUMULATED THROUGH DECEMBER 31, 2004 Reactor
$, in millions Braidwood Station, Unit 1 169.0 Braidwood Station, Unit 2 180.6 Byron Station, Unit 1 18?9 Byron Station, Unit 2 1710 Clinton Power Station 292.3 Dresden Nuclear Power Station, Unit 1 Val)
Dresden Nuclear Power Station, Unit 2 360.1 Dresden Nuclear Power Station, Unit 3 357.7 LaSalle County Station, Unit 1 255.4 LaSalle County Station, Unit 2 255.0 Limerick Generating Station, Unit 1 156.9 Limerick Generating Station, Unit 2 1217 Oyster Creek Nuclear Generating Station 39TS')
Peach Bottom Atomic Power Station, Unit 1 2af')
Peach Bottom Atomic Power Station, Unit 2 131.1 (2)
Peach Bottom Atomic Power Station, Unit 3 14a 1(2)
Quad Cities Nuclear Power Station, Unit 1 230.1 (2)
Quad Cities Nuclear Power Station, Unit 2 2511 (2)
Salem Generating Station, Unit 1 82.9 2}
Salem Generating Station, Unit 2 72.3P)
ATTACHMENT 2 AMOUNT OF DECOMMISSIONING FUNDS ACCUMULATED THROUGH DECEMBER 31, 2004 (2)
This amount reflects the percentage of Exebn Generation Company, LLC ownership interest.
This amount reflects the radiological-only funds available for those units utilizing site-specific decommissioning cost estimates.
Reactor
$, in millions Three Mile Island Nuclear Station, Unit 1 37?8 Zion Nuclear Power Station, Unit 1 282W)
Zion Nuclear Power Station, Unit 2 34310)
ATTACHMENT 3 SCHEDULE OF THE ANNUAL AMOUNTS REMAINING TO BE COLLECTED Reader Annual Amount in thousands Final Year of Collection Braidwood Station, Unit 1 64 2006 Braidwood Station, Unit 2 845 2006 Byron Station, Unit 1 10 2006 Byron Station, Unit 2 396 2006 Clinton Power Station 0
N/A Dresden Nuclear Power Station, Unit 1 26,258 2006 Dresden Nuclear Power Station, Unit 2 1,234 2006 Dresden Nuclear Power Station, Unit 3 8,275 2006 LaSalle County Station, Unit 1 920 2006 LaSalle County Station, Unit 2 664 2006 Limerick Generating Station, Unit 1 5,584 2024 Limerick Generating Station, Unit 2 11,859 2029 Oyster Creek Nuclear Generating Station 0
OVA Peach Bottom Atomic Power Station, Unit 1 2,637 2034 Peach Bottom Atomic Power Station, Unit 2 0
N/A Peach Bottom Atomic Power Station, Unit 3 0
N/A Quad Cities Nuclear Power Station, Unit 1 1,084( l) 2006 Quad Cities Nuclear Power Station, Unit 2 4,380( l )
2006 Salem Generating Station, Unit 1 6,840 2016 Salem Generating Station, Unit 2 5074 1 )
2020
ATTACHMENT 3 SCHEDULE OF THE ANNUAL AMOUNTS REMAINING TO BE COLLECTED This amount reflects the percentage of Exelon Generation Company, LLC ownership interest.
Reactor Annual Amount in thousands Final Year of Collection Three Mile Island Nuclear Station, Unit 1 0
N/A Zion Nuclear Power Station, Unit 1 15,564 2006 Zion Nuclear Power Station, Unit 2 24,267 2006