WM 23-0009, Financial Assurance Requirements for Decommissioning Nuclear Power Reactors 10 CFR 50.75(f)(1): Difference between revisions

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{{#Wiki_filter:WM 23-0009 Page 2 of 2 COR/jkt
{{#Wiki_filter:WM 23-0009 Page 2 of 2 COR/jkt  


==Enclosures:==
==Enclosures:==
I     Wolf Creek Nuclear Operating Corporation Decommissioning Funding Status Report as of 3/31/2023 II     Wolf Creek Nuclear Operating Corporation Minimum Decommissioning Funds Estimate pursuant to 10 CFR 50.75 (b) and (c)
I Wolf Creek Nuclear Operating Corporation Decommissioning Funding Status Report as of 3/31/2023 II Wolf Creek Nuclear Operating Corporation Minimum Decommissioning Funds Estimate pursuant to 10 CFR 50.75 (b) and (c)
III   Wolf Creek Nuclear Operating Corporation Decommissioning Funds as of December 31, 2022 10 CFR 50.75 (b) and (c) cc: S. S. Lee (NRC), w/e R. J. Lewis (NRC), w/e G. E. Werner (NRC), w/e Senior Resident Inspector (NRC), w/e
III Wolf Creek Nuclear Operating Corporation Decommissioning Funds as of December 31, 2022 10 CFR 50.75 (b) and (c) cc:
S. S. Lee (NRC), w/e R. J. Lewis (NRC), w/e G. E. Werner (NRC), w/e Senior Resident Inspector (NRC), w/e  


Enclosure I to WM 23-0009 Wolf Creek Nuclear Operating Corporation Decommissioning Funding Status Report as of 3/31/2023 (1 page)
Enclosure I to WM 23-0009 Wolf Creek Nuclear Operating Corporation Decommissioning Funding Status Report as of 3/31/2023 (1 page)  


Wolf Creek Nuclear Operating Corporation Decommissioning Funding Status Report as of 3/31/2023 Owned by Kansas Gas & Electric (KGE), Kansas City Power and Light (KCPL) and Kansas Electric Power Cooperative (KEPCo)
Westar Energy (KGE, 47% ownership)
Westar Energy            Great Plains Energy (KGE, 47% ownership)       (KCPL, 47% ownership)   KEPCo, 6% ownership   TOTAL 10 CFR 50.75(f)(1) Requirement
Great Plains Energy (KCPL, 47% ownership)
: 1) NRC minimum decommissioning estimate pursuant to 10 CFR 50.75( b ) and ( c ) Dollars in Millions.                             $272.81                   $272.81                 $34.82         $580.44
KEPCo, 6% ownership TOTAL 10 CFR 50.75(f)(1) Requirement
: 2) The amount of accumulated funds at the end of the calendar year preceding the date of the report for items                   $318.77                    $334.54                $33.40        $686.71 included in 10 CFR 50.75 ( b ) and ( c ). Dollars in Millions.
: 1) NRC minimum decommissioning estimate pursuant to 10 CFR 50.75( b ) and ( c ) Dollars in Millions.
$272.81  
$272.81  
$34.82  
$580.44
: 2) The amount of accumulated funds at the end of the calendar year preceding the date of the report for items included in 10 CFR 50.75 ( b ) and ( c ). Dollars in Millions.
$318.77
$334.54
$33.40
$686.71
: 3) A schedule of the annual amounts to be collected; for items in 10 CFR 50.75 ( b ) and ( c ). Dollars in Millions.
: 3) A schedule of the annual amounts to be collected; for items in 10 CFR 50.75 ( b ) and ( c ). Dollars in Millions.
                                                                          $128.45                     $73.83                 $12.10         $214.38 See Attached Schedules
See Attached Schedules
$128.45  
$73.83  
$12.10  
$214.38
: 4) The assumptions used regarding:
: 4) The assumptions used regarding:
(a) Rates of escalation in decommissioning costs;                       3.25%                       3.25%                 3.25%
(a) Rates of escalation in decommissioning costs; Kansas 3.25%
Kansas Missouri                                                           N/A                       3.48%                   N/A (b) Rates of earning on decommissioning funds; Variable. See attached     Variable. See attached Variable. See attached (c) Rates of other factors used in funding projections; and             0.00%                       0.00%                 0.00%
3.25%
(d) Real rate of return for current period, rate reduces in subsequent years;                                                           1.47%                       2.07%                 1.95%
3.25%
Kansas Missouri                                                           N/A                       1.84%                   N/A
Missouri N/A 3.48%
: 5) Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v)?                                                   None                       None                   None
N/A (b) Rates of earning on decommissioning funds; Variable. See attached Variable. See attached Variable. See attached (c) Rates of other factors used in funding projections; and 0.00%
: 6) Any modifications to a licensee's current method of providing financial assurance occurring since the last None                       None                   None submitted report?
0.00%
: 7) Any material changes to trust agreements?                   Yes, effective 4/1/2021 Evergy Kansas South has moved its trustee agreement to BNYM to None                  None be consistent with Evergy Metro and the Evergy Pension plans.
0.00%
Other information; estimated corporate tax rate                           20.00%                     20.00%             Non-taxable
(d) Real rate of return for current period, rate reduces in subsequent years; Kansas 1.47%
2.07%
1.95%
Missouri N/A 1.84%
N/A
: 5) Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v)?
None None None
: 6) Any modifications to a licensee's current method of providing financial assurance occurring since the last submitted report?
None None None
: 7) Any material changes to trust agreements?
Yes, effective 4/1/2021 Evergy Kansas South has moved its trustee agreement to BNYM to be consistent with Evergy Metro and the Evergy Pension plans.
None None Other information; estimated corporate tax rate 20.00%
20.00%
Non-taxable Wolf Creek Nuclear Operating Corporation Decommissioning Funding Status Report as of 3/31/2023 Owned by Kansas Gas & Electric (KGE), Kansas City Power and Light (KCPL) and Kansas Electric Power Cooperative (KEPCo)


Enclosure II to WM 23-0009 Wolf Creek Nuclear Operating Corporation Minimum Decommissioning Funds Estimate pursuant to 10 CFR 50.75 (b) and (c)
Wolf Creek Nuclear Operating Corporation Minimum Decommissioning Funds Estimate pursuant to 10 CFR 50.75 (b) and (c)
(1 page)
(1 page)
Enclosure II to WM 23-0009


WOLF CREEK NUCLEAR OPERATING CORPORATION Minimum Decommissioning Funds Estimate pursuant to 10 CFR 50.75 (b) and (c)
WOLF CREEK NUCLEAR OPERATING CORPORATION Minimum Decommissioning Funds Estimate pursuant to 10 CFR 50.75 (b) and (c)
MINIMUM ESTIMATE Table (c)(1) - Jan86 dollars in Millions                         $        105
MINIMUM ESTIMATE Table (c)(1) - Jan86 dollars in Millions 105
[Wolf Creek is a PWR licensed for 3,565 MWt]
[Wolf Creek is a PWR licensed for 3,565 MWt]
Escalation Factor (see calculation below)                               5.528 Minimum estimate - Dec22 dollars in Millions                     $    580.44 Escalation per paragraph (c)(2)
Escalation Factor (see calculation below) 5.528 Minimum estimate - Dec22 dollars in Millions 580.44 Escalation per paragraph (c)(2)
Escalation Factor = 0.65 Labor + 0.13 Energy + 0.22 Waste Burial Share     4Q '22           Report Labor                                   65%         3.178             2.066 Energy                                   13%         3.428             0.446 Waste Burial                             22%         13.711             3.016 TOTAL ESCALATION FACTOR                                                 5.528 NOTE: 4Q '22 factors pulled from the NUREG-1307 Revision 19 & Department of Labor Statisitcs.
Escalation Factor = 0.65 Labor + 0.13 Energy + 0.22 Waste Burial Share 4Q '22 Report Labor 65%
3.178 2.066 Energy 13%
3.428 0.446 Waste Burial 22%
13.711 3.016 TOTAL ESCALATION FACTOR 5.528 NOTE: 4Q '22 factors pulled from the NUREG-1307 Revision 19 & Department of Labor Statisitcs.
NEW SITE SPECIFIC STUDY (August 2020) (Updated Method)
NEW SITE SPECIFIC STUDY (August 2020) (Updated Method)
Decommissioning Alternative                                       Decon-Alt Cost escalation rate                                                 3.25%
Decommissioning Alternative Decon-Alt Cost escalation rate 3.25%
Obtained from KCC Docket 21-WCNE-103-GIE (2020 $s)   (Q1 2023 $s)   (2045 $s)
Obtained from KCC Docket 21-WCNE-103-GIE Decon-Alt Period (2020 $s)
Decon-Alt Period                                                    Millions     Millions      Millions  % Total Radioactive Systems/Structures and License Termination           $    1,013.9 $    1,126.7   $ 2,255.5     94%
Millions (Q1 2023 $s)
Preparation for Decommissioning/Spent Fuel Mgmt                 $        59.7 $        62.7 $    132.9     6%
Millions (2045 $s)
Other Systems/Structures and Site Restoration                                 $          0.0 $      0.0   0%
Millions
Subtotal - Not Applicable to NRC Minimum                       $        59.7 $        62.7 $    132.9     6%
% Total Radioactive Systems/Structures and License Termination 1,013.9 1,126.7 2,255.5 94%
TOTAL COST ESTIMATE                                             $    1,073.6 $    1,189.4   $ 2,388.4   100%
Preparation for Decommissioning/Spent Fuel Mgmt 59.7 62.7 132.9 6%
Other Systems/Structures and Site Restoration 0.0 0.0 0%
Subtotal - Not Applicable to NRC Minimum 59.7 62.7 132.9 6%
TOTAL COST ESTIMATE 1,073.6 1,189.4 2,388.4 100%
August 2020 study is approved by the KCC for the Decon Alt method.
August 2020 study is approved by the KCC for the Decon Alt method.


Enclosure III to WM 23-0009 Wolf Creek Nuclear Operating Corporation Decommissioning Funds as of December 31, 2022 10 CFR 50.75 (b) and (c)
Enclosure III to WM 23-0009 Wolf Creek Nuclear Operating Corporation Decommissioning Funds as of December 31, 2022 10 CFR 50.75 (b) and (c)
(4 pages)
(4 pages)  


WOLF CREEK NUCLEAR OPERATING CORPORATION Decommissioning Funding Status Report as of December 31, 2022 10 CFR 50.75 (b) and (c)
WOLF CREEK NUCLEAR OPERATING CORPORATION Decommissioning Funding Status Report as of December 31, 2022 10 CFR 50.75 (b) and (c)
(Dollars in Thousands)
(Dollars in Thousands)
TOTAL                                 KGE (47%)                                                       KCPL (47%)                                                                     KEPCo (6%)
TOTAL KGE (47%)
Market Value of External Sinking                   $  686,711.9                       $          318,770.7                                             $          334,540.1                                                                     33,401.0 Fund as of 12/31/22 Schedule of Amounts to be Collected (as approved by rate-setting authorities based on Site Specific Study) 2023                                       9,641                                       5,773                                                           3,318                                                                           550 2024                                       9,641                                       5,773                                                           3,318                                                                           550 2025                                       9,641                                       5,773                                                           3,318                                                                           550 2026                                       9,641                                       5,773                                                           3,318                                                                           550 2027                                       9,641                                       5,773                                                           3,318                                                                           550 2028                                       9,641                                       5,773                                                           3,318                                                                           550 2029                                       9,641                                       5,773                                                           3,318                                                                           550 2030                                       9,641                                       5,773                                                           3,318                                                                           550 2031                                       9,641                                       5,773                                                           3,318                                                                           550 2032                                       9,641                                       5,773                                                           3,318                                                                           550 2033                                       9,641                                       5,773                                                           3,318                                                                           550 2034                                       9,641                                       5,773                                                           3,318                                                                           550 2035                                       9,641                                       5,773                                                           3,318                                                                           550 2036                                       9,641                                       5,773                                                           3,318                                                                           550 2037                                       9,641                                       5,773                                                           3,318                                                                           550 2038                                       9,641                                       5,773                                                           3,318                                                                           550 2039                                       9,641                                       5,773                                                           3,318                                                                           550 2040                                       9,641                                       5,773                                                           3,318                                                                           550 2041                                       9,641                                       5,773                                                           3,318                                                                           550 2042                                       9,641                                       5,773                                                           3,318                                                                           550 2043                                       9,641                                       5,773                                                           3,318                                                                           550 2044                                       9,641                                       5,773                                                           3,318                                                                           550 2045                                       2,273                                       1,443                                                             830                                                                               0 214,379                                     128,449                                                         73,826                                                                         12,104 Assumptions re: Rates/Factors specific to Owner and Jurisdiction Cost Escalation Rate                                                                   Prior                 Current                                   Prior                                 Current                                                 Prior Obtained from KCC Docket                                                               18-WCNE-107-GIE 21-WCNE-103-GIE                                   18-WCNE-107-GIE                       21-WCNE-103-GIE                           18-WCNE-107-GIE 2.91%             3.25%                                       2.91%                               3.25%                                     3.15%
KCPL (47%)
Obtained from MPSC Docket                                                                                                                               E0-2018-0062                         EO-2021-0056 N/A                 N/A                                     3.16%                               3.48%                                       N/A After Tax Earnings on Funds Kansas                                                                                                                                                                     From KCC Docket   21-WCNE-103-GIE 2012 - 2025                 5.60%               4.72%             2012 - 2025               0.00%         2018-2084             5.32%             2012 - 2025             6.74%
KEPCo (6%)
2026 - 2035                 4.83%     decr ~ .20%/year           2026 - 2045               0.00%       2052- 2060   decr ~ .40%/year           2026 - 2035             5.33%
Market Value of External Sinking Fund as of 12/31/22 686,711.9 318,770.7 334,540.1 33,401.0 Schedule of Amounts to be Collected (as approved by rate-setting authorities based on Site Specific Study) 2023 9,641 5,773 3,318 550 2024 9,641 5,773 3,318 550 2025 9,641 5,773 3,318 550 2026 9,641 5,773 3,318 550 2027 9,641 5,773 3,318 550 2028 9,641 5,773 3,318 550 2029 9,641 5,773 3,318 550 2030 9,641 5,773 3,318 550 2031 9,641 5,773 3,318 550 2032 9,641 5,773 3,318 550 2033 9,641 5,773 3,318 550 2034 9,641 5,773 3,318 550 2035 9,641 5,773 3,318 550 2036 9,641 5,773 3,318 550 2037 9,641 5,773 3,318 550 2038 9,641 5,773 3,318 550 2039 9,641 5,773 3,318 550 2040 9,641 5,773 3,318 550 2041 9,641 5,773 3,318 550 2042 9,641 5,773 3,318 550 2043 9,641 5,773 3,318 550 2044 9,641 5,773 3,318 550 2045 2,273 1,443 830 0
2036 - 2044                 3.83%     decr ~ .02%/year 2045 - Decommissioning     decr ~ .13%/year       2060- 2079   decr ~ .02%/year           2036 - 2044             4.15%
214,379 128,449 73,826 12,104 Assumptions re: Rates/Factors specific to Owner and Jurisdiction Cost Escalation Rate Prior Current Prior Current Prior Obtained from KCC Docket 18-WCNE-107-GIE 21-WCNE-103-GIE 18-WCNE-107-GIE 21-WCNE-103-GIE 18-WCNE-107-GIE 2.91%
2045 - Decommissioning                 2.31%               0.00%                                                                                   2045 - Decommissioning             1.93%
3.25%
Missouri                                                                                                                                                                   From MPSC Docket   EO-2021-0056
2.91%
                                                                                                          -                  -              2012 - 2025               5.18%                               5.07%                                       -
3.25%
                                                                                                          -                  -              2026 - 2045   decr ~ .154%/year                 decr ~ .20%/year                                         -
3.15%
2045 - Decommissioning   decr ~ .022%/year                 decr ~ .02%/year Power sale contracts                                                                   None                   None                                       None                                 None                                       None Modifications to method of financial assurance                                         None                   None                                       None                                 None                                       None Material changes to trust agreements                                                   None                   None                                       None                                 None                                       None
Obtained from MPSC Docket E0-2018-0062 EO-2021-0056 N/A N/A 3.16%
3.48%
N/A After Tax Earnings on Funds Kansas From KCC Docket 21-WCNE-103-GIE 2012 - 2025 5.60%
4.72%
2012 - 2025 0.00%
2018-2084 5.32%
2012 - 2025 6.74%
2026 - 2035 4.83%
decr ~.20%/year 2026 - 2045 0.00%
2052-2060 decr ~.40%/year 2026 - 2035 5.33%
2036 - 2044 3.83%
decr ~.02%/year 2045 - Decommissioning decr ~.13%/year 2060- 2079 decr ~.02%/year 2036 - 2044 4.15%
2045 - Decommissioning 2.31%
0.00%
2045 - Decommissioning 1.93%
Missouri From MPSC Docket EO-2021-0056 2012 - 2025 5.18%
5.07%
2026 - 2045 decr ~.154%/year decr ~.20%/year 2045 - Decommissioning decr ~.022%/year decr ~.02%/year Power sale contracts None None None None None Modifications to method of financial assurance None None None None None Material changes to trust agreements None None None None None


WOLF CREEK NUCLEAR OPERATING CORPORATION Decommissioning Funding Status Report as of December 31, 2022 10 CFR 50.75 (b) and (c)
WOLF CREEK NUCLEAR OPERATING CORPORATION Decommissioning Funding Status Report as of December 31, 2022 10 CFR 50.75 (b) and (c)
(Dollars in Thousands)
(Dollars in Thousands)
Kansas       FERC           TOTAL             KGE Market Value of External Sinking                                                                 $    318,770.7 Fund as of 12/31/22 Schedule of Amounts to be Collected (as approved by rate-setting authorities based on Site Specific Study) 2023                                 5,507,454       265,246       5,772,700               5,773 2024                                 5,507,454       265,246       5,772,700               5,773 2025                                 5,507,454       265,246       5,772,700               5,773 2026                                 5,507,454       265,246       5,772,700               5,773 2027                                 5,507,454       265,246       5,772,700               5,773 2028                                 5,507,454       265,246       5,772,700               5,773 2029                                 5,507,454       265,246       5,772,700               5,773 2030                                 5,507,454       265,246       5,772,700               5,773 2031                                 5,507,454       265,246       5,772,700               5,773 2032                                 5,507,454       265,246       5,772,700               5,773 2033                                 5,507,454       265,246       5,772,700               5,773 2034                                 5,507,454       265,246       5,772,700               5,773 2035                                 5,507,454       265,246       5,772,700               5,773 2036                                 5,507,454       265,246       5,772,700               5,773 2037                                 5,507,454       265,246       5,772,700               5,773 2038                                 5,507,454       265,246       5,772,700               5,773 2039                                 5,507,454       265,246       5,772,700               5,773 2040                                 5,507,454       265,246       5,772,700               5,773 2041                                 5,507,454       265,246       5,772,700               5,773 2042                                 5,507,454       265,246       5,772,700               5,773 2043                                 5,507,454       265,246       5,772,700               5,773 2044                                 5,507,454       265,246       5,772,700               5,773 2045                                 1,369,319         73,857     1,443,176               1,443 128,449 Assumptions re: Rates/Factors specific to Owner and Jurisdiction Cost Escalation Rate Obtained from KCC Docket 18-WCNE-107-GIE                                         Kansas                     2.91% Obtained from KCC Docket 21-WCNE-103-GIE             3.25%
Kansas FERC TOTAL KGE Market Value of External Sinking Fund as of 12/31/22 318,770.7 Schedule of Amounts to be Collected (as approved by rate-setting authorities based on Site Specific Study) 2023 5,507,454 265,246 5,772,700 5,773 2024 5,507,454 265,246 5,772,700 5,773 2025 5,507,454 265,246 5,772,700 5,773 2026 5,507,454 265,246 5,772,700 5,773 2027 5,507,454 265,246 5,772,700 5,773 2028 5,507,454 265,246 5,772,700 5,773 2029 5,507,454 265,246 5,772,700 5,773 2030 5,507,454 265,246 5,772,700 5,773 2031 5,507,454 265,246 5,772,700 5,773 2032 5,507,454 265,246 5,772,700 5,773 2033 5,507,454 265,246 5,772,700 5,773 2034 5,507,454 265,246 5,772,700 5,773 2035 5,507,454 265,246 5,772,700 5,773 2036 5,507,454 265,246 5,772,700 5,773 2037 5,507,454 265,246 5,772,700 5,773 2038 5,507,454 265,246 5,772,700 5,773 2039 5,507,454 265,246 5,772,700 5,773 2040 5,507,454 265,246 5,772,700 5,773 2041 5,507,454 265,246 5,772,700 5,773 2042 5,507,454 265,246 5,772,700 5,773 2043 5,507,454 265,246 5,772,700 5,773 2044 5,507,454 265,246 5,772,700 5,773 2045 1,369,319 73,857 1,443,176 1,443 128,449 Assumptions re: Rates/Factors specific to Owner and Jurisdiction Cost Escalation Rate Obtained from KCC Docket 18-WCNE-107-GIE Kansas 2.91%
Missouri                     N/A                                                         N/A After Tax Earnings on Funds Kansas 2012 - 2025                                                       5.60%                                                       4.72%
Obtained from KCC Docket 21-WCNE-103-GIE 3.25%
2026 - 2035                                                       4.83%                                           decr ~ .20%/year 2036 - 2044                                                       3.83%                                           decr ~ .02%/year 2045 - Decommissioning                                                         2.31%                                                       0.00%
Missouri N/A N/A After Tax Earnings on Funds Kansas 2012 - 2025 5.60%
Missouri Power sale contracts                                                                           None                                                       None Modifications to method of financial assurance                                                 None                                                       None Material changes to trust agreements                                                           None                                                       None
4.72%
2026 - 2035 4.83%
decr ~.20%/year 2036 - 2044 3.83%
decr ~.02%/year 2045 - Decommissioning 2.31%
0.00%
Missouri Power sale contracts None None Modifications to method of financial assurance None None Material changes to trust agreements None None


WOLF CREEK NUCLEAR OPERATING CORPORATION Decommissioning Funding Status Report as of December 31, 2022 10 CFR 50.75 (b) and (c)
WOLF CREEK NUCLEAR OPERATING CORPORATION Decommissioning Funding Status Report as of December 31, 2022 10 CFR 50.75 (b) and (c)
(Dollars in Thousands)
(Dollars in Thousands)
Kansas       Missouri       TOTAL             KCPL Market Value of External Sinking                                                             $        334,540.1 Fund as of 12/31/22 Schedule of Amounts to be Collected (as approved by rate-setting authorities based on Site Specific Study) 2023                                 2,036,766     1,281,264     3,318,030                 3,318 2024                                 2,036,766     1,281,264     3,318,030                 3,318 2025                                 2,036,766     1,281,264     3,318,030                 3,318 2026                                 2,036,766     1,281,264     3,318,030                 3,318 2027                                 2,036,766     1,281,264     3,318,030                 3,318 2028                                 2,036,766     1,281,264     3,318,030                 3,318 2029                                 2,036,766     1,281,264     3,318,030                 3,318 2030                                 2,036,766     1,281,264     3,318,030                 3,318 2031                                 2,036,766     1,281,264     3,318,030                 3,318 2032                                 2,036,766     1,281,264     3,318,030                 3,318 2033                                 2,036,766     1,281,264     3,318,030                 3,318 2034                                 2,036,766     1,281,264     3,318,030                 3,318 2035                                 2,036,766     1,281,264     3,318,030                 3,318 2036                                 2,036,766     1,281,264     3,318,030                 3,318 2037                                 2,036,766     1,281,264     3,318,030                 3,318 2038                                 2,036,766     1,281,264     3,318,030                 3,318 2039                                 2,036,766     1,281,264     3,318,030                 3,318 2040                                 2,036,766     1,281,264     3,318,030                 3,318 2041                                 2,036,766     1,281,264     3,318,030                 3,318 2042                                 2,036,766     1,281,264     3,318,030                 3,318 2043                                 2,036,766     1,281,264     3,318,030                 3,318 2044                                 2,036,766     1,281,264     3,318,030                 3,318 2045                                   509,192       320,316       829,508                   830 73,826 Assumptions re: Rates/Factors specific to Owner and Jurisdiction Cost Escalation Rate Obtained from KCC Docket 18-WCNE-107-GIE                                       Kansas                       2.91% Obtained from KCC Docket 18-WCNE-107-GIE             3.25%
Kansas Missouri TOTAL KCPL Market Value of External Sinking Fund as of 12/31/22 334,540.1 Schedule of Amounts to be Collected (as approved by rate-setting authorities based on Site Specific Study) 2023 2,036,766 1,281,264 3,318,030 3,318 2024 2,036,766 1,281,264 3,318,030 3,318 2025 2,036,766 1,281,264 3,318,030 3,318 2026 2,036,766 1,281,264 3,318,030 3,318 2027 2,036,766 1,281,264 3,318,030 3,318 2028 2,036,766 1,281,264 3,318,030 3,318 2029 2,036,766 1,281,264 3,318,030 3,318 2030 2,036,766 1,281,264 3,318,030 3,318 2031 2,036,766 1,281,264 3,318,030 3,318 2032 2,036,766 1,281,264 3,318,030 3,318 2033 2,036,766 1,281,264 3,318,030 3,318 2034 2,036,766 1,281,264 3,318,030 3,318 2035 2,036,766 1,281,264 3,318,030 3,318 2036 2,036,766 1,281,264 3,318,030 3,318 2037 2,036,766 1,281,264 3,318,030 3,318 2038 2,036,766 1,281,264 3,318,030 3,318 2039 2,036,766 1,281,264 3,318,030 3,318 2040 2,036,766 1,281,264 3,318,030 3,318 2041 2,036,766 1,281,264 3,318,030 3,318 2042 2,036,766 1,281,264 3,318,030 3,318 2043 2,036,766 1,281,264 3,318,030 3,318 2044 2,036,766 1,281,264 3,318,030 3,318 2045 509,192 320,316 829,508 830 73,826 Assumptions re: Rates/Factors specific to Owner and Jurisdiction Cost Escalation Rate Obtained from KCC Docket 18-WCNE-107-GIE Kansas 2.91%
Obtained from MPSC Docket E0-2018-0062                                         Missouri                     3.16% Obtained from MPSC Docket EO-2021-0056               3.48%
Obtained from KCC Docket 18-WCNE-107-GIE 3.25%
After Tax Earnings on Funds Kansas 2012 - 2025                                                         0.00% 2018-2051                                           5.32%
Obtained from MPSC Docket E0-2018-0062 Missouri 3.16%
2026 - 2045                                                         0.00% 2052- 2060                                 decr ~ .40%/year 2045 - Decommissioning                                               decr ~ .13%/year 2060- 2079                                 decr ~ .02%/year 2080 - Decommissioning                               0.00%
Obtained from MPSC Docket EO-2021-0056 3.48%
Missouri 2018 - 2027                                                         5.18%                                                       5.07%
After Tax Earnings on Funds Kansas 2012 - 2025 0.00%
2028 - 2047                                           decr ~ .154%/year                                             decr ~ .20%/year 2048 - Decommissioning                                             decr ~ .022%/year                                             decr ~ .02%/year Power sale contracts                                                                         None                                                           None Modifications to method of financial assurance                                               None                                                           None Material changes to trust agreements                                                         None                                                           None
2018-2051 5.32%
2026 - 2045 0.00%
2052-2060 decr ~.40%/year 2045 - Decommissioning decr ~.13%/year 2060- 2079 decr ~.02%/year 2080 - Decommissioning 0.00%
Missouri 2018 - 2027 5.18%
5.07%
2028 - 2047 decr ~.154%/year decr ~.20%/year 2048 - Decommissioning decr ~.022%/year decr ~.02%/year Power sale contracts None None Modifications to method of financial assurance None None Material changes to trust agreements None None


WOLF CREEK NUCLEAR OPERATING CORPORATION Decommissioning Funding Status Report as of December 31, 2022 10 CFR 50.75 (b) and (c)
WOLF CREEK NUCLEAR OPERATING CORPORATION Decommissioning Funding Status Report as of December 31, 2022 10 CFR 50.75 (b) and (c)
(Dollars in Thousands)
(Dollars in Thousands)
KEPCo Market Value of External Sinking                                                             33,401.0 Fund as of 12/31/22 Schedule of Amounts to be Collected (as approved by rate-setting authorities based on Site Specific Study) 2023                                                                             550 2024                                                                             550 2025                                                                             550 2026                                                                             550 2027                                                                             550 2028                                                                             550 2029                                                                             550 2030                                                                             550 2031                                                                             550 2032                                                                             550 2033                                                                             550 2034                                                                             550 2035                                                                             550 2036                                                                             550 2037                                                                             550 2038                                                                             550 2039                                                                             550 2040                                                                             550 2041                                                                             550 2042                                                                             550 2043                                                                             550 2044                                                                             550 2045                                                                                 0 12,104 Assumptions re: Rates/Factors specific to Owner and Jurisdiction Cost Escalation Rate Obtained from KCC Docket 18-WCNE-107-GIE                                   Kansas               3.15%     Obtained from KCC Docket 21-WCNE-103-GIE   3.25%
KEPCo Market Value of External Sinking Fund as of 12/31/22 33,401.0 Schedule of Amounts to be Collected (as approved by rate-setting authorities based on Site Specific Study) 2023 550 2024 550 2025 550 2026 550 2027 550 2028 550 2029 550 2030 550 2031 550 2032 550 2033 550 2034 550 2035 550 2036 550 2037 550 2038 550 2039 550 2040 550 2041 550 2042 550 2043 550 2044 550 2045 0
Missouri               N/A                                                   N/A After Tax Earnings on Funds Kansas 2015 - 2025       6.74%                                                 5.20%
12,104 Assumptions re: Rates/Factors specific to Owner and Jurisdiction Cost Escalation Rate Obtained from KCC Docket 18-WCNE-107-GIE Kansas 3.15%
2026 - 2035       5.33%
Obtained from KCC Docket 21-WCNE-103-GIE 3.25%
2036 - 2043       4.15%
Missouri N/A N/A After Tax Earnings on Funds Kansas 2015 - 2025 6.74%
2044 - Decommissioning         1.93%
5.20%
Missouri Power sale contracts                                                                     None                                                     None Modifications to method of financial assurance                                           None                                                     None Material changes to trust agreements                                                     None                                                     None}}
2026 - 2035 5.33%
2036 - 2043 4.15%
2044 - Decommissioning 1.93%
Missouri Power sale contracts None None Modifications to method of financial assurance None None Material changes to trust agreements None None}}

Latest revision as of 05:52, 27 November 2024

Financial Assurance Requirements for Decommissioning Nuclear Power Reactors 10 CFR 50.75(f)(1)
ML23130A305
Person / Time
Site: Peach Bottom, Wolf Creek  
Issue date: 05/10/2023
From: Reasoner C
Wolf Creek
To:
Office of Nuclear Material Safety and Safeguards, Document Control Desk, Office of Nuclear Reactor Regulation
References
WM 23-0009
Download: ML23130A305 (1)
v • d • e


Text

WM 23-0009 Page 2 of 2 COR/jkt

Enclosures:

I Wolf Creek Nuclear Operating Corporation Decommissioning Funding Status Report as of 3/31/2023 II Wolf Creek Nuclear Operating Corporation Minimum Decommissioning Funds Estimate pursuant to 10 CFR 50.75 (b) and (c)

III Wolf Creek Nuclear Operating Corporation Decommissioning Funds as of December 31, 2022 10 CFR 50.75 (b) and (c) cc:

S. S. Lee (NRC), w/e R. J. Lewis (NRC), w/e G. E. Werner (NRC), w/e Senior Resident Inspector (NRC), w/e

Enclosure I to WM 23-0009 Wolf Creek Nuclear Operating Corporation Decommissioning Funding Status Report as of 3/31/2023 (1 page)

Westar Energy (KGE, 47% ownership)

Great Plains Energy (KCPL, 47% ownership)

KEPCo, 6% ownership TOTAL 10 CFR 50.75(f)(1) Requirement

1) NRC minimum decommissioning estimate pursuant to 10 CFR 50.75( b ) and ( c ) Dollars in Millions.

$272.81

$272.81

$34.82

$580.44

2) The amount of accumulated funds at the end of the calendar year preceding the date of the report for items included in 10 CFR 50.75 ( b ) and ( c ). Dollars in Millions.

$318.77

$334.54

$33.40

$686.71

3) A schedule of the annual amounts to be collected; for items in 10 CFR 50.75 ( b ) and ( c ). Dollars in Millions.

See Attached Schedules

$128.45

$73.83

$12.10

$214.38

4) The assumptions used regarding:

(a) Rates of escalation in decommissioning costs; Kansas 3.25%

3.25%

3.25%

Missouri N/A 3.48%

N/A (b) Rates of earning on decommissioning funds; Variable. See attached Variable. See attached Variable. See attached (c) Rates of other factors used in funding projections; and 0.00%

0.00%

0.00%

(d) Real rate of return for current period, rate reduces in subsequent years; Kansas 1.47%

2.07%

1.95%

Missouri N/A 1.84%

N/A

5) Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v)?

None None None

6) Any modifications to a licensee's current method of providing financial assurance occurring since the last submitted report?

None None None

7) Any material changes to trust agreements?

Yes, effective 4/1/2021 Evergy Kansas South has moved its trustee agreement to BNYM to be consistent with Evergy Metro and the Evergy Pension plans.

None None Other information; estimated corporate tax rate 20.00%

20.00%

Non-taxable Wolf Creek Nuclear Operating Corporation Decommissioning Funding Status Report as of 3/31/2023 Owned by Kansas Gas & Electric (KGE), Kansas City Power and Light (KCPL) and Kansas Electric Power Cooperative (KEPCo)

Wolf Creek Nuclear Operating Corporation Minimum Decommissioning Funds Estimate pursuant to 10 CFR 50.75 (b) and (c)

(1 page)

Enclosure II to WM 23-0009

WOLF CREEK NUCLEAR OPERATING CORPORATION Minimum Decommissioning Funds Estimate pursuant to 10 CFR 50.75 (b) and (c)

MINIMUM ESTIMATE Table (c)(1) - Jan86 dollars in Millions 105

[Wolf Creek is a PWR licensed for 3,565 MWt]

Escalation Factor (see calculation below) 5.528 Minimum estimate - Dec22 dollars in Millions 580.44 Escalation per paragraph (c)(2)

Escalation Factor = 0.65 Labor + 0.13 Energy + 0.22 Waste Burial Share 4Q '22 Report Labor 65%

3.178 2.066 Energy 13%

3.428 0.446 Waste Burial 22%

13.711 3.016 TOTAL ESCALATION FACTOR 5.528 NOTE: 4Q '22 factors pulled from the NUREG-1307 Revision 19 & Department of Labor Statisitcs.

NEW SITE SPECIFIC STUDY (August 2020) (Updated Method)

Decommissioning Alternative Decon-Alt Cost escalation rate 3.25%

Obtained from KCC Docket 21-WCNE-103-GIE Decon-Alt Period (2020 $s)

Millions (Q1 2023 $s)

Millions (2045 $s)

Millions

% Total Radioactive Systems/Structures and License Termination 1,013.9 1,126.7 2,255.5 94%

Preparation for Decommissioning/Spent Fuel Mgmt 59.7 62.7 132.9 6%

Other Systems/Structures and Site Restoration 0.0 0.0 0%

Subtotal - Not Applicable to NRC Minimum 59.7 62.7 132.9 6%

TOTAL COST ESTIMATE 1,073.6 1,189.4 2,388.4 100%

August 2020 study is approved by the KCC for the Decon Alt method.

Enclosure III to WM 23-0009 Wolf Creek Nuclear Operating Corporation Decommissioning Funds as of December 31, 2022 10 CFR 50.75 (b) and (c)

(4 pages)

WOLF CREEK NUCLEAR OPERATING CORPORATION Decommissioning Funding Status Report as of December 31, 2022 10 CFR 50.75 (b) and (c)

(Dollars in Thousands)

TOTAL KGE (47%)

KCPL (47%)

KEPCo (6%)

Market Value of External Sinking Fund as of 12/31/22 686,711.9 318,770.7 334,540.1 33,401.0 Schedule of Amounts to be Collected (as approved by rate-setting authorities based on Site Specific Study) 2023 9,641 5,773 3,318 550 2024 9,641 5,773 3,318 550 2025 9,641 5,773 3,318 550 2026 9,641 5,773 3,318 550 2027 9,641 5,773 3,318 550 2028 9,641 5,773 3,318 550 2029 9,641 5,773 3,318 550 2030 9,641 5,773 3,318 550 2031 9,641 5,773 3,318 550 2032 9,641 5,773 3,318 550 2033 9,641 5,773 3,318 550 2034 9,641 5,773 3,318 550 2035 9,641 5,773 3,318 550 2036 9,641 5,773 3,318 550 2037 9,641 5,773 3,318 550 2038 9,641 5,773 3,318 550 2039 9,641 5,773 3,318 550 2040 9,641 5,773 3,318 550 2041 9,641 5,773 3,318 550 2042 9,641 5,773 3,318 550 2043 9,641 5,773 3,318 550 2044 9,641 5,773 3,318 550 2045 2,273 1,443 830 0

214,379 128,449 73,826 12,104 Assumptions re: Rates/Factors specific to Owner and Jurisdiction Cost Escalation Rate Prior Current Prior Current Prior Obtained from KCC Docket 18-WCNE-107-GIE 21-WCNE-103-GIE 18-WCNE-107-GIE 21-WCNE-103-GIE 18-WCNE-107-GIE 2.91%

3.25%

2.91%

3.25%

3.15%

Obtained from MPSC Docket E0-2018-0062 EO-2021-0056 N/A N/A 3.16%

3.48%

N/A After Tax Earnings on Funds Kansas From KCC Docket 21-WCNE-103-GIE 2012 - 2025 5.60%

4.72%

2012 - 2025 0.00%

2018-2084 5.32%

2012 - 2025 6.74%

2026 - 2035 4.83%

decr ~.20%/year 2026 - 2045 0.00%

2052-2060 decr ~.40%/year 2026 - 2035 5.33%

2036 - 2044 3.83%

decr ~.02%/year 2045 - Decommissioning decr ~.13%/year 2060- 2079 decr ~.02%/year 2036 - 2044 4.15%

2045 - Decommissioning 2.31%

0.00%

2045 - Decommissioning 1.93%

Missouri From MPSC Docket EO-2021-0056 2012 - 2025 5.18%

5.07%

2026 - 2045 decr ~.154%/year decr ~.20%/year 2045 - Decommissioning decr ~.022%/year decr ~.02%/year Power sale contracts None None None None None Modifications to method of financial assurance None None None None None Material changes to trust agreements None None None None None

WOLF CREEK NUCLEAR OPERATING CORPORATION Decommissioning Funding Status Report as of December 31, 2022 10 CFR 50.75 (b) and (c)

(Dollars in Thousands)

Kansas FERC TOTAL KGE Market Value of External Sinking Fund as of 12/31/22 318,770.7 Schedule of Amounts to be Collected (as approved by rate-setting authorities based on Site Specific Study) 2023 5,507,454 265,246 5,772,700 5,773 2024 5,507,454 265,246 5,772,700 5,773 2025 5,507,454 265,246 5,772,700 5,773 2026 5,507,454 265,246 5,772,700 5,773 2027 5,507,454 265,246 5,772,700 5,773 2028 5,507,454 265,246 5,772,700 5,773 2029 5,507,454 265,246 5,772,700 5,773 2030 5,507,454 265,246 5,772,700 5,773 2031 5,507,454 265,246 5,772,700 5,773 2032 5,507,454 265,246 5,772,700 5,773 2033 5,507,454 265,246 5,772,700 5,773 2034 5,507,454 265,246 5,772,700 5,773 2035 5,507,454 265,246 5,772,700 5,773 2036 5,507,454 265,246 5,772,700 5,773 2037 5,507,454 265,246 5,772,700 5,773 2038 5,507,454 265,246 5,772,700 5,773 2039 5,507,454 265,246 5,772,700 5,773 2040 5,507,454 265,246 5,772,700 5,773 2041 5,507,454 265,246 5,772,700 5,773 2042 5,507,454 265,246 5,772,700 5,773 2043 5,507,454 265,246 5,772,700 5,773 2044 5,507,454 265,246 5,772,700 5,773 2045 1,369,319 73,857 1,443,176 1,443 128,449 Assumptions re: Rates/Factors specific to Owner and Jurisdiction Cost Escalation Rate Obtained from KCC Docket 18-WCNE-107-GIE Kansas 2.91%

Obtained from KCC Docket 21-WCNE-103-GIE 3.25%

Missouri N/A N/A After Tax Earnings on Funds Kansas 2012 - 2025 5.60%

4.72%

2026 - 2035 4.83%

decr ~.20%/year 2036 - 2044 3.83%

decr ~.02%/year 2045 - Decommissioning 2.31%

0.00%

Missouri Power sale contracts None None Modifications to method of financial assurance None None Material changes to trust agreements None None

WOLF CREEK NUCLEAR OPERATING CORPORATION Decommissioning Funding Status Report as of December 31, 2022 10 CFR 50.75 (b) and (c)

(Dollars in Thousands)

Kansas Missouri TOTAL KCPL Market Value of External Sinking Fund as of 12/31/22 334,540.1 Schedule of Amounts to be Collected (as approved by rate-setting authorities based on Site Specific Study) 2023 2,036,766 1,281,264 3,318,030 3,318 2024 2,036,766 1,281,264 3,318,030 3,318 2025 2,036,766 1,281,264 3,318,030 3,318 2026 2,036,766 1,281,264 3,318,030 3,318 2027 2,036,766 1,281,264 3,318,030 3,318 2028 2,036,766 1,281,264 3,318,030 3,318 2029 2,036,766 1,281,264 3,318,030 3,318 2030 2,036,766 1,281,264 3,318,030 3,318 2031 2,036,766 1,281,264 3,318,030 3,318 2032 2,036,766 1,281,264 3,318,030 3,318 2033 2,036,766 1,281,264 3,318,030 3,318 2034 2,036,766 1,281,264 3,318,030 3,318 2035 2,036,766 1,281,264 3,318,030 3,318 2036 2,036,766 1,281,264 3,318,030 3,318 2037 2,036,766 1,281,264 3,318,030 3,318 2038 2,036,766 1,281,264 3,318,030 3,318 2039 2,036,766 1,281,264 3,318,030 3,318 2040 2,036,766 1,281,264 3,318,030 3,318 2041 2,036,766 1,281,264 3,318,030 3,318 2042 2,036,766 1,281,264 3,318,030 3,318 2043 2,036,766 1,281,264 3,318,030 3,318 2044 2,036,766 1,281,264 3,318,030 3,318 2045 509,192 320,316 829,508 830 73,826 Assumptions re: Rates/Factors specific to Owner and Jurisdiction Cost Escalation Rate Obtained from KCC Docket 18-WCNE-107-GIE Kansas 2.91%

Obtained from KCC Docket 18-WCNE-107-GIE 3.25%

Obtained from MPSC Docket E0-2018-0062 Missouri 3.16%

Obtained from MPSC Docket EO-2021-0056 3.48%

After Tax Earnings on Funds Kansas 2012 - 2025 0.00%

2018-2051 5.32%

2026 - 2045 0.00%

2052-2060 decr ~.40%/year 2045 - Decommissioning decr ~.13%/year 2060- 2079 decr ~.02%/year 2080 - Decommissioning 0.00%

Missouri 2018 - 2027 5.18%

5.07%

2028 - 2047 decr ~.154%/year decr ~.20%/year 2048 - Decommissioning decr ~.022%/year decr ~.02%/year Power sale contracts None None Modifications to method of financial assurance None None Material changes to trust agreements None None

WOLF CREEK NUCLEAR OPERATING CORPORATION Decommissioning Funding Status Report as of December 31, 2022 10 CFR 50.75 (b) and (c)

(Dollars in Thousands)

KEPCo Market Value of External Sinking Fund as of 12/31/22 33,401.0 Schedule of Amounts to be Collected (as approved by rate-setting authorities based on Site Specific Study) 2023 550 2024 550 2025 550 2026 550 2027 550 2028 550 2029 550 2030 550 2031 550 2032 550 2033 550 2034 550 2035 550 2036 550 2037 550 2038 550 2039 550 2040 550 2041 550 2042 550 2043 550 2044 550 2045 0

12,104 Assumptions re: Rates/Factors specific to Owner and Jurisdiction Cost Escalation Rate Obtained from KCC Docket 18-WCNE-107-GIE Kansas 3.15%

Obtained from KCC Docket 21-WCNE-103-GIE 3.25%

Missouri N/A N/A After Tax Earnings on Funds Kansas 2015 - 2025 6.74%

5.20%

2026 - 2035 5.33%

2036 - 2043 4.15%

2044 - Decommissioning 1.93%

Missouri Power sale contracts None None Modifications to method of financial assurance None None Material changes to trust agreements None None

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