ML17250A674

Forwards Info Re Actual Cash Flow & Certified Financial Statement for 1979 to Support Util Guarantee That Retrospective Premium Can Be Payed Per Alternative Method 5

ML17250A674
Person / Time
Site:	Ginna
Issue date:	10/02/1980
From:	Kowba S ROCHESTER GAS & ELECTRIC CORP.
To:	Saltzman J Office of Nuclear Reactor Regulation
References
NUDOCS 8010080410
Download: ML17250A674 (7)

Text

'V REG ATORY INFORMATION DISTRIBl'~'ION'YSTEM (RIDS)ACCESSION NBR;8010080410 DOC~DATE: 80/10/02 NOTARIZED:

NO DOCKET FACIL:50 244 Robert El@met Ginna Nuclea'r Plant~Unit-ir Rochester G 050002 AUTH BYNAME AUTHOR AFFILIATION KOI'IBArS~Rochester Gas 8 Electric Corp.REC I P, NAME REC'IP IENT'FFILIATION SAL'TZMANFJ, Utility Finance Branch

SUBJECT:

Forwar'ds info,re actual cash flow 8 certified"financial statement'or 19T9 to-support util guarantee that retrospective premium, can be payed per Al,ternetive Method 5..DISTRIBUTION CODE: MOORS COPIES RECEIVED:LTR j ENCL<g SIZE: 4 TITLE: Annual Financia.l Reports 44 I t NOTES: 1 copy:SEP.Sects Ldr..05000244 REC'IP IENT ID CODE/NA9E ACTION: CRUTCHFIIELD NOVI CKI z S>>, INTERNAL: NRC PDR UT FIN BR EXTERNAL>>LPDR 02 03 COP'IES LITTR ENCL i 0 1.0 1 1 1 1 1 1 REG F L 01 REC IP lENT ID, CODE/NAME:

SMITHr H~05 COPIES LTTR ENCLT 1..~1 OCT 0 198P F TOTAL NUMBER OF COPIES REQUIRED)LiTTR/ENCL' r/II fJ g////////T

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~Ieger IIIttII ROCHESTER GAS AND ELECTRIC CORPORATION

~89 EAST AVENUE, ROCHESTER.

N.Y.14649 STEPHEN KOWBA ASSISTANT CONTROLLER TELEPHONE AREA COOE Tld 546.2700 October 2, 1980 Mr.Jerome Saltzman, Chief Antitrust&Indemnity Group Nuclear Reactor Regulation Nuclear Energy Commission Washington, D C 20555 Re: Docket No.50-244

Dear Mr.Saltzman:

Enclosed is material required under Alternative Method No.5 to support a guarantee by Rochester Gas and Electric Corporation that it can pay the retrospective pre-miums which might be required under the Secondary Financial Protection system.Attachment A summarizes the actual cash flow for the calendar year 1979 and the projected cash flow for the calendar year 1980.Attachment B is a certified financial statement covering the three months ended December 31, 1979 and 12 months ended December 31, 1979.We do not believe that it would be necessary to curtail any capital expenditures if a retrospective premium had to be paid.However, if future circumstances were such as to impact capital expenditures, we probably would delay upgrading distribution facilities which would not have an immediate impact on our service standards.

Very truly yours, Enclosures hen Kowba~OEI 8 5 Attachment A Rochester Gas and Electric Corporation 1980 Cash Flow Projection For R.E.Ginna Nuclear Power Station (000's)1979 Actual 1980 Projected (9 Mos.Actual, 3 Mos.Forecast)Net Income After Taxes Less Dividends Paid Retained Earnings$39,565 28 793$10,772$45,770 34 323$11,447 Adjustments:

Depreciation and Amortization Deferred Income Taxes Deferred Fuel Costs Allowance for Funds Used During Construction

$40,829 2,596 (4,'755)(17 211)$48,616 2,418 (5,060)(18 353)Total Adjustments Internal Cash Flow$21,459 8 32 231$27,621 8 39 068 Average Quarterly Cash Flow 8 8 058$9 767 Percentage Ownership in All Operating Nuclear Units Maximum Total Contingent Liability R.E.Ginna 100%$10,000 P'~'C 3<187.f:A h K Rochester Gas and Electric~poration Statement of Income (000's)Attachment B Three Months Ended December 31 1979 Year Ended December 31 1979 Revenue Electric~Gas Steam Electric sales to other utilities Expense Electric and steam fuels Purchased electricity Deferred fuel-electric and steam Purchased natural gas Other operation Maintenance Total operation and maintenance expense Depreciation Taxes-Local, state and other Federal income tax-current-deferred Regulatory allowance for costs not currently recoverable Operating Income 9 50,457 40,862 5 075 96 394 11 849 108,243 16,011 7,869 (2,173)31,070 19,033 7 190 79,000 6,100 12,090 (2,348)1,502 620 11,279$219,373 140,527 19 988 3794888 37 804 417,692 62,109 31,937 (1,038)89,804 72,264.30 129 285,205 23,703 49,916 (36)6,162 620 52,122 Other Income and Deductions Allowance for other funds used during construction Other-net Income before Interest Charges 2,820 846 3,666 14,945 11,439 3 774 15,213 67,335 Interest Charges Long-term debt Short-term debt Other-net Allowance for borrowed funds used during construction Net Income Dividends on Preferred and Preference Stock Earnings Applicable to Common Stock 7,247 1,759 109 (1 364)7,751 7,194 1 957$5 237 29,084 4,016 441 (5 771)27,770 39,565 6 645 8 32 920 I hereby certify these Financial Statements to be correct to knowledge and belief.the best of my ROCHESTER GAS AND ELECTRIC CORPORATION By L