ML18100B010

Forwards 1993 Annual Repts for Public Svc Enterprise Group, Inc,Atlantic Energy & Delmarva Power

ML18100B010
Person / Time
Site:	Salem, Hope Creek
Issue date:	04/13/1994
From:	Miltenberger S Public Service Enterprise Group
To:	NRC OFFICE OF INFORMATION RESOURCES MANAGEMENT (IRM)
Shared Package
ML18100B011	List: ML18100B010 ML18100B013 ML18100B014 ML18100B015
References
NLR-N94065, NUDOCS 9404210184
Download: ML18100B010 (5)

Text

• • Public Service Electric and Gas Company

• Steven E. Miltenberger Public Service Electric and Gas Company P.O. Box 236, Hancocks Bridge, NJ 08038 609-339-4199 Vice 1 President and Chief Nuclear Officer APR 1 3 1994 NLR-N94065 United States Nuclear Regulatory Commission Document Control Desk Washington, DC 20555 Gentlemen:

GUARANTEED RETROSPECTIVE PREMIUMS FOLLOWING A NuCLEAR ACCIDENT SALEM AND HOPE CREEK GENERATING STATIONS DOCKET NOS. 50-272, 50-311 AND 50-354 FACILITY OPERATING LICENSE NOS. DPR-70,-75 AND NPF-57 Pursuant to the 1975 Amendments to the Price-Anderson Act (Public Law 94-197), the owners of Salem Generating Station, Unit Nos. 1 and 2, and the Hope Creek Generating station submit the following statements and supporting documents to satisfy guarantee requirements as provided under Alternative No. 5: 1. 1993 Stockholders' Annual Report of each owner. (except PECO Energy Company) 2. Individual certified Internal Cash Flow Statements showing 1993 Actual and 1994 Projected with Explanation of Significant Variations. (except PECO Energy Company) Similar documents will be filed by the PECO Energy Company for the owners of the Peach Bottom Atomic Power Station, Unit Nos. 2 and 3. Sincerely, Enclosures (6) ( 9404210184 9404!3 .. PDR . ADOCK 05000272 . . I .. * *.. .PDR Document Control Desk NLR-N94065 C All w/o 1993 Stockholders' Annual Reports Mr. T. T. Martin, Administrator

-Region I U. S. Nuclear Regulatory Commission 475 Allendale Road King of Prussia, PA 19406 Mr. J. c. Stone, Licensing Project Manager u. S. Nuclear Regulatory Commission One White Flint North 11555 Rockville Pike Rockville, MD 20852 Mr. c. s. Marschall (S09) USNRC Senior Resident Inspector Mr. K. Tosch, Manager IV NJ Department of Environmental Protection Division of Environmental Quality Bureau of Nuclear Engineering CN 415 Trenton, NJ 08625 Ms. Pamela J. Curham Manager Joint Generation Atlantic Electric Company 6801 Black Horse Pike P.O. Box 1264 (MLC) Pleasantville, NJ 08232 Mr. J. Ted Robb Director -Joint Owner Affairs PECO Energy Company 965 Chesterbrook Blvd. 61C-1 Wayne, PA 19807-5691 Carl D. Schaefer Manager External Operations Delmarva Power & Light Company 800 King Street P.O. Box 231 -Wilmington, DE 19899-Mr. R. Wood, Financial Analyst Office of State Programs

• APR 13 1994 Net Incaoo less Dividen:ls Paid Retained in Business Adjustments:

Depreciation RJBLIC SERVICE AND GAS CXJ.IPANY (SAI>>I AND OOPE CREEK) Projected Internal Cash Flow statement For Year 1994 -Cgtpared to 1993 Actual ('lhrusams of Dollars) Actual -1993 Projected

$ 614,868 531,314 $ 83,554 $ 502,206 $ 661,547 539,072 $ 122.475 $ 521,408 Explanation of Sicmif icant Variations Am:>rtization of Nuclear F\lel. 102,718 82,928 Anticipated acklitional a.rt:ages.

Def erred Incane Taxes arxi Investirent Tax Credits 76,787 Statement of Financial Acccuntin;J (4,853) stan:lards No. 90 -Regulated Enterprises

-AcxnJntin;J for Abarrlorments arxi Disallowance of Plant Costs (SFAS 90) Allowance for F\ll'rls Used Durin;J Construction (27,080) Total Adjustments Internal cash Flow Average Quarterly cash Flow $ 649,778 $ 733,332 $ 183,333 54,778 (4,221) (37, 000) $ 617.893 $ 740,368 $ 185,092 Primarily Deferred Taxes on Loss on Reacquired Debt. Ao::retion to Incane related to varioos abarrlonments.

Increased oon.st.J:uction experrli tures. 'As irrlicated by this statement, the Average Quarterly Cash Flow covers the maximum oontin;Jent liability of Public Service Electric arxi Gas carpany, as defined by the Nuclear Regulatory Ccmnission.

'lhe presentation of this statement is oonsistent with that of prior years' filings.

Net Income Less Dividends Retained in Business Major Adjustments:

Depreciation and Amortization Levelized Energy Clause -Net Deferred Income Taxes and Investment Tax Credits Unrecovered Purchased Power Costs Allowance for Funds Used During Construction State Excise Tax Other Total Adjustments Average Quarterly Cash Flow Nuclear Generating Station Percentage OWnership Salem Unit #1 Salem Unit #2 Hope Creek #1 Maximum Contingent Liability (Severally and Not Jointly) Actual 1993 $109,026 98,752 10,274 67,950 (15,269) 16,213 (6,050) (3,816) (35,982) 42,581 65,627 $ 75,901 ATLANTIC CITY ELECTRIC COMPANY PROJECTED INTERNAL CASH FLOW STATEMENT FOR YEAR 1994 -COMPARED TO 1993 ACTUAL (Thousands of Dollars) Projected 1994 $110,596 99,853 10,743 76,023 (3,157) 16,210 14,580 (7,089) (36,748) (20,452) 39,367 $ 50,110 7.41% 7.41% 5.00% $1,982 Explanation of Significant Variations Increased rates to recover deferred costs. 1993 includes payment to independent power producers for contract renegotiations versus projected amortization of deferred costs. Primarily changes in working capital components.

l As indicated by this statement, the Average Quarterly Cash Flow fully covers the maximum contingent liability of Atlantic City Electric Company which amounts to shown above. W' Atlantic City Electric Company By:

Frank F. Frankowski Date _.3-F-,J,__*.f'-;;..._9

_y! __ V.P. -Controller

& Assistant Treasurer 1993 Actual Net Income $111,076 Dividends Paid (98,031 Retained in Business 13,045 Adjustments:

Depreciation 102,970 Deferred Income Taxes and Investment Tax Credits (3,686 Allowance for Funds 1-Jsed During Construction (8,713 Other non-cash expense (income) (5,438 Total Adjustments 85,133 Internal Cash Flow $98,178 Average Quarterly Cash Flow * $24,545 Delmarva Power & Light Company Projected Internal Cash Flow Statement ForYear 1994 Compared to 1993 Actual ($000) 1994 Projected Explanation of Significant Variances

$109,184 (100,854) 8,330 110,836 Higher projected average plant-In-service balances In 1994. 8,905 The sale of certain assets resulted in a net deferred tax expense credit in 1993. (5,209 3,888 Certain expenses that were deferred in 1993 are expected to expensed in 1994. Also, amortization of debt refinancing losses and expenses are expected to increase in 1994. 118,420 $126,750 $31,688 anynassufficient cash flow to ensure that its respective premiums would be available for payment.

\_-)L t::r Date March 7, 1994 .. P. Lavin troller and Chief Accounting Officer .. .e