ML112351241

2010 DFS Report Analysis for Brunswick Steam Electric Plant, Unit 2

ML112351241
Person / Time
Site:	Brunswick
Issue date:	11/14/2011
From:	Szabo A Division of Inspection and Regional Support
To:
Szabo, A L, NRR/DPR, 415-1985
References
Download: ML112351241 (5)

Text

Datasheet 1Signature: Aaron L. SzaboDate: 7/26/2011Signature: Jo Ann SimpsonDate: 8/10/2011Spreadsheet created by: Aaron Szabo, Shawn HarwellFormulas verified by: Clayton Pittiglio 1 2% Owned:Category:81.67%118.33%1 3 4variable 13.00%variable 1 Y N N Y N Y 5 6Any modifications to a licensee's method of providing decommissioning funding assurance? (Y/N) 7 1 Rates provided are variable because the rates are not consistent throughout the funds of the licensee Y 2Any material changes to trust agreements? (Y/N)If a change has occurred, the reviewer will document on this sheet that a change has occurred and identify the reviewer who will evaluate the change: (see below)

NPost-RAIRates Determined (Y/N)Total Trust Fund Balance NAssumptions used in determining rates of escalation in decommissioning costs, rates of earnings on decommissioning funds, and rates of other factors used in funding projections: (see below)Any contracts upon which the licensee is relying? (Y/N)Schedule of the annual amounts remaining to be collected: (provided/none)Rate of Return on EarningsAllowed through Decom (Y/N)Y$587.9millionThe total amount of dollars accumulated at the end of the appropriate year: (see below)North Carolina Eastern Municipal Power AgencyProgress Energy Carolinas, Inc.Licensee:$247,040,027Amount in Trust Fund:Rate(s) of Other Factors$334,055,045Real Rate of ReturnPUC Verified (Y/N)2 Effective 2/16/2010 Progress Energy Service Company, LLC engaged Watson Wyatt Investment Consulting, Inc., a Tower Watson company as its new investment advisor. Towers Watson Advises Progress Energy on its trust investments including its nuclear decommissioning trusts.Plant name:Brunswick Steam Electric Plant, Unit 250-324RAI Needed (Y/N)PUC Verified (Y/N)$87,015,018providedDocket Number:Did the licensee identify the amount of estimated radiological funds? (Y/N)The minimum financial assurance (MFA) estimate pursuant to 10 CFR 50.75(b) & (c):Escalation RateAllowed through Decom (Y/N)

Datasheet 2Signature: Aaron L. SzaboDate: 7/26/2011 Signature: Jo Ann Simpson Date: 8/10/2011Spreadsheet created by: Aaron Szabo, Shawn HarwellFormulas verified by: Clayton PittiglioMonth:1212BWR 2923$130,307,000112.81.980.652.231.676191.4114.23.049250.082.00.132.3070.2212.54% Owned:Category81.67%118.33%1 2%23.99See Annuity SheetSee Annuity Sheet 2%7 Bx Ex LxECIBase LxBase PxNRC Minimum:$587,750,866Trust Fund Balance:Step 1:$46,537,164Total Earnings for Decom:Decom Period:Total Earnings:Real Rate of Return per year2010Year:Brunswick Steam Electric Plant, Unit 2Docket Number:Date of Operation:Latest Month Fx$625,980,497Years remaining after annuity Px50-3242731Termination of Operations:2034 1986$DayBase FxPlant name:Value of Annuity per year (amount/See Annuity Sheet)Licensee:$480,016,132 FxSite Specific:Total Step 2:Years Left in LicenseN/AReal Rate of Return per yearDoes Licensee Pass:

NOSee Total Step 2Latest Month PxAmount of NRC Minimum/Site Specific:BWR/PWRMWthProgress Energy Carolinas, Inc.North Carolina Eastern Municipal Power Agency$107,734,734Total Annuity:Step 3:$87,015,018$247,040,027Amount in Trust Fund:$88,790,510Total Earnings:$537,189,987Real Rate of Return per yearTotal of Steps 1 thru 3:see annuity sheetNumber of Annual Payments:Accumulation:Step 2:Earnings Credit:$334,055,045Decom Period:See Total Step 2Total AnnuityReal Rate of Return per yearTotal Fund Balance:$334,055,045Total Step 1 + Step 2$625,980,497 NOShortfall:YESDoes Licensee Pass:Does Licensee Pass:YES$672,517,661 Datasheet 2Signature: Aaron L. SzaboDate: 7/26/2011 Signature: Jo Ann Simpson Date: 8/10/2011Spreadsheet created by: Aaron Szabo, Shawn HarwellFormulas verified by: Clayton PittiglioMonth:12122010Year:Brunswick Steam Electric Plant, Unit 2Docket Number:Date of Operation:50-3242731Termination of Operations:2034DayPlant name:3.00%23.992.00%See Annuity SheetSee Annuity Sheet2.00%7Does Licensee Pass:$153,364,633YESAll Others$180,690,412Earnings Credit:Step 4:Shortfall:

NOReal Rate of Return per yearYears remaining after annuity$90,884,537Total AnnuityTotal Earnings:Type of FundReal Rate of Return per yearYES$51,527,644Total Step 5Total of Steps 4 thru 6:$744,636,056Does Licensee Pass:Total Earnings:N/A 0$693,108,412see annuity sheetSee Total Step 4Decom Period:Step 6:$693,108,412See Total Step 4Does Licensee Pass:Real Rate of Return per yearYESTotal Step 4 + Step 5Total Earnings for Decom:Decom Period:Accumulation:Value of Annuity per yearNorth Carolina Qualified FundTotal Annuity:Number of Annual Payments:Step 5:$602,223,875If licensee is granted greater than 2% RRRReal Rate of Return Years Left in Trust Fund Balance:

Datasheet 2Signature: Aaron L. SzaboDate: 7/26/2011Signature: Jo Ann SimpsonDate: 8/10/2011Spreadsheet created by: Aaron Szabo, Shawn HarwellFormulas verified by: Clayton Pittiglio12272034YearAnnuity: 2011$7,060,354 2%$11,354,032 2012$7,060,354 2%$11,131,403 2013$7,060,354 2%$10,913,141 2014$7,060,354 2%$10,699,157 2015$7,060,354 2%$10,489,370 2016$7,060,354 2%$10,283,696 2017$7,060,354 2%$10,082,055 2018$678,033 2%$949,234 2019$678,033 2%$930,621 2020$678,033 2%$912,374 2021$678,033 2%$894,484 2022$678,033 2%$876,945 2023$678,033 2%$859,750 2024$678,033 2%$842,893 2025$678,033 2%$826,365 2026$678,033 2%$810,162 2027$678,033 2%$794,276 2028$678,033 2%$778,702 2029$678,033 2%$763,434 2030$678,033 2%$748,464 2031$678,033 2%$733,789 2032$678,033 2%$719,401 2033$678,033 2%$705,295 2034$678,033 2%$691,465Total:$88,790,510ANNUITYTotal AccumulationTermination of Operations:Real Rate of Return:

Datasheet 2Signature: Aaron L. SzaboDate: 7/26/2011Signature: Jo Ann SimpsonDate: 8/10/2011Spreadsheet created by: Aaron Szabo, Shawn HarwellFormulas verified by: Clayton Pittiglio12272034ANNUITYTermination of Operations:YearAnnuity:YearAnnuity:YearAnnuity: 2011$4,847,0823.00%$9,850,394 2011$82.00%$13 2011$2,213,2642.00%$3,559,236 2012$96,9023.00%$191,192 2012$4,750,1882.00%$7,489,180 2012$2,213,2642.00%$3,489,447 20133.00%$0 2013$4,847,0902.00%$7,492,114 2013$2,213,2642.00%$3,421,027 20143.00%$0 2014$4,847,0902.00%$7,345,209 2014$2,213,2642.00%$3,353,948 20153.00%$0 2015$4,847,0902.00%$7,201,186 2015$2,213,2642.00%$3,288,184 20163.00%$0 2016$4,847,0902.00%$7,059,986 2016$2,213,2642.00%$3,223,710 20173.00%$0 2017$4,847,0902.00%$6,921,555 2017$2,213,2642.00%$3,160,500 20183.00%$0 2018$445,8862.00%$624,232 2018$232,1472.00%$325,002 20193.00%$0 2019$445,8862.00%$611,992 2019$232,1472.00%$318,629 20203.00%$0 2020$445,8862.00%$599,993 2020$232,1472.00%$312,381 20213.00%$0 2021$445,8862.00%$588,228 2021$232,1472.00%$306,256 20223.00%$0 2022$445,8862.00%$576,694 2022$232,1472.00%$300,251 20233.00%$0 2023$445,8862.00%$565,386 2023$232,1472.00%$294,364 20243.00%$0 2024$445,8862.00%$554,300 2024$232,1472.00%$288,592 20253.00%$0 2025$445,8862.00%$543,432 2025$232,1472.00%$282,933 20263.00%$0 2026$445,8862.00%$532,776 2026$232,1472.00%$277,386 20273.00%$0 2027$445,8862.00%$522,330 2027$232,1472.00%$271,947 20283.00%$0 2028$445,8862.00%$512,088 2028$232,1472.00%$266,615 20293.00%$0 2029$445,8862.00%$502,047 2029$232,1472.00%$261,387 20303.00%$0 2030$445,8862.00%$492,203 2030$232,1472.00%$256,262 20313.00%$0 2031$445,8862.00%$482,552 2031$232,1472.00%$251,237 20323.00%$0 2032$445,8862.00%$473,090 2032$232,1472.00%$246,311 20333.00%$0 2033$445,8862.00%$463,814 2033$232,1472.00%$241,481 20343.00%$0 2034$445,8862.00%$454,719 2034$232,1472.00%$236,746Total:Total:Total:Total:$90,884,537If licensee is granted greater than 2% RRRReal Rate of Return:Total Accumulation$10,041,585$52,609,120$28,233,832Real Rate of Return:Total AccumulationReal Rate of Return:Total AccumulationNorth Carolina QualifiedNorth Carolina NonQualifiedSouth Carolina and Wholesale