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| issue date = 11/14/2011
| issue date = 11/14/2011
| title = 2010 DFS Report Analysis for North Anna Power Station, Unit 2
| title = 2010 DFS Report Analysis for North Anna Power Station, Unit 2
| author name = Szabo A L
| author name = Szabo A
| author affiliation = NRC/NRR/DIRS
| author affiliation = NRC/NRR/DIRS
| addressee name =  
| addressee name =  
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| page count = 5
| page count = 5
}}
}}
=Text=
{{#Wiki_filter:Datasheet 1 Plant name:                                  North Anna Power Station, Unit 2                                                          Docket Number:                                  50-339 1      The minimum financial assurance (MFA) estimate pursuant to 10 CFR 50.75(b) & (c):                                                                            $450,040,000 Did the licensee identify the amount of estimated radiological funds? (Y/N)                                                                            Y 2                          The total amount of dollars accumulated at the end of the appropriate year: (see below)
Licensee:                  % Owned:1 Category:                      Amount in Trust Fund:
Virginia Electric and Power Company        89.26%          1                            $209,700,000 Old Dominion Electric Cooperative        10.74%          1                            $34,830,000 Total Trust Fund Balance        $244,530,000 3      Schedule of the annual amounts remaining to be collected: (provided/none)                                                                                        None 4      Assumptions 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)
Post-RAI Rate of                                                              PUC                                        RAI        PUC        Allowed        Rates Rate(s) of Real Rate                    Allowed through Decom Return on        Escalation Rate                                    Verified                                    Needed    Verified    through    Determined Other Factors of Return                            (Y/N)
Earnings                                                              (Y/N)                                      (Y/N)      (Y/N)    Decom (Y/N)      (Y/N) variable2            variable2                        variable2        N                    N                    Y          N            N              Y 5      Any contracts upon which the licensee is relying? (Y/N)                                                                                                            Y3 N
6      Any modifications to a licensee's method of providing decommissioning funding assurance? (Y/N) 7      Any material changes to trust agreements? (Y/N)                                                                                                                    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) 1 Old Dominion ownes 11.6% of North Anna Power Station, but is only responsible for 10.74% of the decommissioning funding obligation.
2 Rates provided are variable because the rates are not consistent throughout the licensee(s) and/or years of operation/decommission 3
ODEC has wholesale power contracts with 11 member distribution cooperatives. For NRC reference, ODEC has attached its Second Amended and Restated Wholesale Power Contract with A&N Electric Cooperative.
Signature: JoAnn Simpson Date: 07/12/2011 Secondary Check: Kosmas Lois                                                                                                                                Spreadsheet created by: Aaron Szabo, Shawn Harwell Signature: 7/26/2011                                                                                                                                                        Formulas verified by: Clayton Pittiglio
Datasheet 2 Plant name:                            North Anna Power Station, Unit 2                                        Docket Number:                50-339 Month:                Day                    Year:
Date of Operation:                                        12                  31                      2010 Termination of Operations:                                      8                  21                      2040 Latest                  Latest BWR/PWR                  MWth          1986$            ECI      Base Lx                      Lx          Px                Base Px    Fx            Base Fx        Ex                      Bx Month Px                Month Fx PWR                  2940      $100,872,000        112.8        1.98        0.65        2.23        1.676        191.4  114.2    3.049  250.0    82.0  0.13  2.253        0.22        12.28 NRC Minimum:                                  $448,494,095                                Site Specific:
Amount of NRC Minimum/Site Licensee:                % Owned:        Category                  Specific:                Amount in Trust Fund:
Virginia Electric and Power Company        89.26%            1                  $400,325,829                    $209,700,000 Old Dominion Electric Cooperative        10.74%            1                    $48,168,266                    $34,830,000 Total Fund Balance:          $244,530,000 Step 1:
Earnings Credit:
Real Rate of Return Years Left Trust Fund Balance:            per year      in License      Total Earnings:        Does Licensee Pass:
                $244,530,000                    2%            29.64          $439,779,474                  NO Step 2:
Accumulation:
Value of Annuity per year (amount/See Real Rate of Return    Number of Annual Annuity Sheet)              per year              Payments:              Total Annuity:
See Annuity Sheet          See Annuity Sheet                                See Total Step 2 Real Rate of Return  Years remaining after Total Annuity                per year                annuity                Total Step 2:
See Total Step 2          See Annuity Sheet            N/A                    $10,449,043 Total Step 1 + Step 2    Does Licensee Pass:
                                                                                            $450,228,518                  YES Step 3:
Decom Period:
Real Rate of Return  Decom        Total Earnings for Total Earnings:              per year        Period:          Decom:
                $450,228,518                    2%              7            $33,471,264 Total of Steps 1 thru 3:  Does Licensee Pass:    Shortfall:
                                                                                            $483,699,781                  YES                NO Signature: JoAnn Simpson Date: 07/12/2011 Secondary Check: Kosmas Lois                                                                                                                                                  Spreadsheet created by: Aaron Szabo, Shawn Harwell Signature: 7/26/2011                                                                                                                                                                        Formulas verified by: Clayton Pittiglio
Datasheet 2 Plant name:                                    North Anna Power Station, Unit 2                                  Docket Number:      50-339 Month:                Day                  Year:
Date of Operation:                                              12                31                  2010 Termination of Operations:                                            8                  21                  2040 If licensee is granted greater than 2% RRR Step 4:
Earnings Credit:
Real Rate  Years Left Owner                                  Trust Fund Balance:          of Return  in License      Total Earnings:      Does Licensee Pass:
Virginia Electric Power
                                          $209,700,000              2.00%        29.64          $469,923,366              YES Company Old Dominion                              $34,830,000              3.36%
Step 5:
Accumulation:
Real Rate of Return  Number of Annual Value of Annuity per year                    per year          Payments:              Total Annuity:
See Annuity Sheet                  See Annuity Sheet          0                        $0 Real Rate of Return Years remaining after Total Annuity                        per year            annuity                Total Step 5
                      $0                        See Annuity Sheet          N/A                  $10,449,043 Total Step 4 + Step 5  Does Licensee Pass:
                                                                                                  $480,372,409              YES Step 6:
Decom Period:
Real Rate of Return  Decom        Total Earnings for Total Earnings:                        per year      Period:          Decom:
                $480,372,409                          2.00%          7            $35,712,246 Total of Steps 4 thru 6: Does Licensee Pass: Shortfall:
                                                                                                  $516,084,655              YES            NO Signature: JoAnn Simpson Date: 07/12/2011 Secondary Check: Kosmas Lois                                                                                                                                Spreadsheet created by: Aaron Szabo, Shawn Harwell Signature: 7/26/2011                                                                                                                                                      Formulas verified by: Clayton Pittiglio
Datasheet 2 ANNUITY Termination of Operations:              8            21 2040 Real Rate    Total Year          Annuity:    of Return: Accumulation 2011        $254,320        2%      $457,401 2012        $254,320        2%      $448,432 2013        $254,320        2%      $439,640 2014        $254,320        2%      $431,019 2015        $254,320        2%      $422,568 2016        $254,320        2%      $414,282 2017        $254,320        2%      $406,159 2018        $254,320        2%      $398,195 2019        $254,320        2%      $390,387 2020        $254,320        2%      $382,733 2021        $254,320        2%      $375,228 2022        $254,320        2%      $367,871 2023        $254,320        2%      $360,658 2024        $254,320        2%      $353,586 2025        $254,320        2%      $346,653 2026        $254,320        2%      $339,856 2027        $254,320        2%      $333,192 2028        $254,320        2%      $326,659 2029        $254,320        2%      $320,254 2030        $254,320        2%      $313,974 2031        $254,320        2%      $307,818 2032        $254,320        2%      $301,782 2033        $254,320        2%      $295,865 2034        $254,320        2%      $290,064 2035        $254,320        2%      $284,376 2036        $254,320        2%      $278,800 2037        $254,320        2%      $273,333 2038        $254,320        2%      $267,974 2039        $254,320        2%      $262,719 2040        $254,320        2%      $257,568 Total:      $10,449,043 Signature: JoAnn Simpson Date: 07/12/2011 Secondary Check: Kosmas Lois                                Spreadsheet created by: Aaron Szabo, Shawn Harwell Signature: 7/26/2011                                                      Formulas verified by: Clayton Pittiglio
Datasheet 2 ANNUITY Termination of Operations:                      8            21 2040 If licensee is granted greater than 2% RRR Real Rate      Total Year          Annuity:      of Return: Accumulation 2011          $254,320          2.00%        $457,401 2012          $254,320          2.00%        $448,432 2013          $254,320          2.00%        $439,640 2014          $254,320          2.00%        $431,019 2015          $254,320          2.00%        $422,568 2016          $254,320          2.00%        $414,282 2017          $254,320          2.00%        $406,159 2018          $254,320          2.00%        $398,195 2019          $254,320          2.00%        $390,387 2020          $254,320          2.00%        $382,733 2021          $254,320          2.00%        $375,228 2022          $254,320          2.00%        $367,871 2023          $254,320          2.00%        $360,658 2024          $254,320          2.00%        $353,586 2025          $254,320          2.00%        $346,653 2026          $254,320          2.00%        $339,856 2027          $254,320          2.00%        $333,192 2028          $254,320          2.00%        $326,659 2029          $254,320          2.00%        $320,254 2030          $254,320          2.00%        $313,974 2031          $254,320          2.00%        $307,818 2032          $254,320          2.00%        $301,782 2033          $254,320          2.00%        $295,865 2034          $254,320          2.00%        $290,064 2035          $254,320          2.00%        $284,376 2036          $254,320          2.00%        $278,800 2037          $254,320          2.00%        $273,333 2038          $254,320          2.00%        $267,974 2039          $254,320          2.00%        $262,719 2040          $254,320          2.00%        $257,568 Total:      $10,449,043 Signature: JoAnn Simpson Date: 07/12/2011 Secondary Check: Kosmas Lois                                        Spreadsheet created by: Aaron Szabo, Shawn Harwell Signature: 7/26/2011                                                              Formulas verified by: Clayton Pittiglio}}

Latest revision as of 16:38, 12 November 2019

2010 DFS Report Analysis for North Anna Power Station, Unit 2
ML112370156
Person / Time
Site: North Anna Dominion icon.png
Issue date: 11/14/2011
From: Szabo A
Division of Inspection and Regional Support
To:
Szabo, A L, NRR/DPR, 415-1985
References
Download: ML112370156 (5)
v • d • e


Text

Datasheet 1 Plant name: North Anna Power Station, Unit 2 Docket Number: 50-339 1 The minimum financial assurance (MFA) estimate pursuant to 10 CFR 50.75(b) & (c): $450,040,000 Did the licensee identify the amount of estimated radiological funds? (Y/N) Y 2 The total amount of dollars accumulated at the end of the appropriate year: (see below)

Licensee:  % Owned:1 Category: Amount in Trust Fund:

Virginia Electric and Power Company 89.26% 1 $209,700,000 Old Dominion Electric Cooperative 10.74% 1 $34,830,000 Total Trust Fund Balance $244,530,000 3 Schedule of the annual amounts remaining to be collected: (provided/none) None 4 Assumptions 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)

Post-RAI Rate of PUC RAI PUC Allowed Rates Rate(s) of Real Rate Allowed through Decom Return on Escalation Rate Verified Needed Verified through Determined Other Factors of Return (Y/N)

Earnings (Y/N) (Y/N) (Y/N) Decom (Y/N) (Y/N) variable2 variable2 variable2 N N Y N N Y 5 Any contracts upon which the licensee is relying? (Y/N) Y3 N

6 Any modifications to a licensee's method of providing decommissioning funding assurance? (Y/N) 7 Any material changes to trust agreements? (Y/N) 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) 1 Old Dominion ownes 11.6% of North Anna Power Station, but is only responsible for 10.74% of the decommissioning funding obligation.

2 Rates provided are variable because the rates are not consistent throughout the licensee(s) and/or years of operation/decommission 3

ODEC has wholesale power contracts with 11 member distribution cooperatives. For NRC reference, ODEC has attached its Second Amended and Restated Wholesale Power Contract with A&N Electric Cooperative.

Signature: JoAnn Simpson Date: 07/12/2011 Secondary Check: Kosmas Lois Spreadsheet created by: Aaron Szabo, Shawn Harwell Signature: 7/26/2011 Formulas verified by: Clayton Pittiglio

Datasheet 2 Plant name: North Anna Power Station, Unit 2 Docket Number: 50-339 Month: Day Year:

Date of Operation: 12 31 2010 Termination of Operations: 8 21 2040 Latest Latest BWR/PWR MWth 1986$ ECI Base Lx Lx Px Base Px Fx Base Fx Ex Bx Month Px Month Fx PWR 2940 $100,872,000 112.8 1.98 0.65 2.23 1.676 191.4 114.2 3.049 250.0 82.0 0.13 2.253 0.22 12.28 NRC Minimum: $448,494,095 Site Specific:

Amount of NRC Minimum/Site Licensee:  % Owned: Category Specific: Amount in Trust Fund:

Virginia Electric and Power Company 89.26% 1 $400,325,829 $209,700,000 Old Dominion Electric Cooperative 10.74% 1 $48,168,266 $34,830,000 Total Fund Balance: $244,530,000 Step 1:

Earnings Credit:

Real Rate of Return Years Left Trust Fund Balance: per year in License Total Earnings: Does Licensee Pass:

$244,530,000 2% 29.64 $439,779,474 NO Step 2:

Accumulation:

Value of Annuity per year (amount/See Real Rate of Return Number of Annual Annuity Sheet) per year Payments: Total Annuity:

See Annuity Sheet See Annuity Sheet See Total Step 2 Real Rate of Return Years remaining after Total Annuity per year annuity Total Step 2:

See Total Step 2 See Annuity Sheet N/A $10,449,043 Total Step 1 + Step 2 Does Licensee Pass:

$450,228,518 YES Step 3:

Decom Period:

Real Rate of Return Decom Total Earnings for Total Earnings: per year Period: Decom:

$450,228,518 2% 7 $33,471,264 Total of Steps 1 thru 3: Does Licensee Pass: Shortfall:

$483,699,781 YES NO Signature: JoAnn Simpson Date: 07/12/2011 Secondary Check: Kosmas Lois Spreadsheet created by: Aaron Szabo, Shawn Harwell Signature: 7/26/2011 Formulas verified by: Clayton Pittiglio

Datasheet 2 Plant name: North Anna Power Station, Unit 2 Docket Number: 50-339 Month: Day Year:

Date of Operation: 12 31 2010 Termination of Operations: 8 21 2040 If licensee is granted greater than 2% RRR Step 4:

Earnings Credit:

Real Rate Years Left Owner Trust Fund Balance: of Return in License Total Earnings: Does Licensee Pass:

Virginia Electric Power

$209,700,000 2.00% 29.64 $469,923,366 YES Company Old Dominion $34,830,000 3.36%

Step 5:

Accumulation:

Real Rate of Return Number of Annual Value of Annuity per year per year Payments: Total Annuity:

See Annuity Sheet See Annuity Sheet 0 $0 Real Rate of Return Years remaining after Total Annuity per year annuity Total Step 5

$0 See Annuity Sheet N/A $10,449,043 Total Step 4 + Step 5 Does Licensee Pass:

$480,372,409 YES Step 6:

Decom Period:

Real Rate of Return Decom Total Earnings for Total Earnings: per year Period: Decom:

$480,372,409 2.00% 7 $35,712,246 Total of Steps 4 thru 6: Does Licensee Pass: Shortfall:

$516,084,655 YES NO Signature: JoAnn Simpson Date: 07/12/2011 Secondary Check: Kosmas Lois Spreadsheet created by: Aaron Szabo, Shawn Harwell Signature: 7/26/2011 Formulas verified by: Clayton Pittiglio

Datasheet 2 ANNUITY Termination of Operations: 8 21 2040 Real Rate Total Year Annuity: of Return: Accumulation 2011 $254,320 2% $457,401 2012 $254,320 2% $448,432 2013 $254,320 2% $439,640 2014 $254,320 2% $431,019 2015 $254,320 2% $422,568 2016 $254,320 2% $414,282 2017 $254,320 2% $406,159 2018 $254,320 2% $398,195 2019 $254,320 2% $390,387 2020 $254,320 2% $382,733 2021 $254,320 2% $375,228 2022 $254,320 2% $367,871 2023 $254,320 2% $360,658 2024 $254,320 2% $353,586 2025 $254,320 2% $346,653 2026 $254,320 2% $339,856 2027 $254,320 2% $333,192 2028 $254,320 2% $326,659 2029 $254,320 2% $320,254 2030 $254,320 2% $313,974 2031 $254,320 2% $307,818 2032 $254,320 2% $301,782 2033 $254,320 2% $295,865 2034 $254,320 2% $290,064 2035 $254,320 2% $284,376 2036 $254,320 2% $278,800 2037 $254,320 2% $273,333 2038 $254,320 2% $267,974 2039 $254,320 2% $262,719 2040 $254,320 2% $257,568 Total: $10,449,043 Signature: JoAnn Simpson Date: 07/12/2011 Secondary Check: Kosmas Lois Spreadsheet created by: Aaron Szabo, Shawn Harwell Signature: 7/26/2011 Formulas verified by: Clayton Pittiglio

Datasheet 2 ANNUITY Termination of Operations: 8 21 2040 If licensee is granted greater than 2% RRR Real Rate Total Year Annuity: of Return: Accumulation 2011 $254,320 2.00% $457,401 2012 $254,320 2.00% $448,432 2013 $254,320 2.00% $439,640 2014 $254,320 2.00% $431,019 2015 $254,320 2.00% $422,568 2016 $254,320 2.00% $414,282 2017 $254,320 2.00% $406,159 2018 $254,320 2.00% $398,195 2019 $254,320 2.00% $390,387 2020 $254,320 2.00% $382,733 2021 $254,320 2.00% $375,228 2022 $254,320 2.00% $367,871 2023 $254,320 2.00% $360,658 2024 $254,320 2.00% $353,586 2025 $254,320 2.00% $346,653 2026 $254,320 2.00% $339,856 2027 $254,320 2.00% $333,192 2028 $254,320 2.00% $326,659 2029 $254,320 2.00% $320,254 2030 $254,320 2.00% $313,974 2031 $254,320 2.00% $307,818 2032 $254,320 2.00% $301,782 2033 $254,320 2.00% $295,865 2034 $254,320 2.00% $290,064 2035 $254,320 2.00% $284,376 2036 $254,320 2.00% $278,800 2037 $254,320 2.00% $273,333 2038 $254,320 2.00% $267,974 2039 $254,320 2.00% $262,719 2040 $254,320 2.00% $257,568 Total: $10,449,043 Signature: JoAnn Simpson Date: 07/12/2011 Secondary Check: Kosmas Lois Spreadsheet created by: Aaron Szabo, Shawn Harwell Signature: 7/26/2011 Formulas verified by: Clayton Pittiglio

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