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
 
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==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)


Enclosure I to WM 23-0009 Wolf Creek Nuclear Operating Corporation Decommissioning Funding Status Report as of 3/31/2023 (1 page)
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)
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 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           Great Plains Energy (KGE, 47% ownership)       (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
Westar Energy Great Plains Energy (KGE, 47% ownership) (KCPL, 47% ownership) 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 $318.77 $334.54 $33.40 $686.71 included 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.
: 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; 3.25% 3.25% 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%
Kansas Missouri N/A 3.48% N/A
(d) Real rate of return for current period, rate reduces in subsequent years;                                                           1.47%                       2.07%                 1.95%
 
Kansas Missouri                                                           N/A                       1.84%                   N/A
(b)Rates of earning on decommissioning funds; Variable. See attached Variable. See attached Variable. See attached
: 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 None                       None                   None submitted report?
(c)Rates of other factors used in funding projections; and 0.00% 0.00% 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.
(d)Real rate of return for current period, rate reduces in subsequent years; 1.47% 2.07% 1.95%
Other information; estimated corporate tax rate                           20.00%                     20.00%             Non-taxable
Kansas 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 None None be consistent with Evergy Metro and the Evergy Pension plans.
Other information; estimated corporate tax rate 20.00% 20.00% Non-taxable Enclosure II to WM 23-0009


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 p ursuant to 10 CFR 50.75 (b) and (c)
(1 page)
(1 page)
WOLF CREEK NUCLEAR OPERATING CORPORATION Minimum Decommissioning Funds Estimate pursuant to 10 CFR 50.75 (b) and (c)
MINIMUM ESTIMATE


WOLF CREEK NUCLEAR OPERATING CORPORATION Minimum Decommissioning Funds Estimate pursuant to 10 CFR 50.75 (b) and (c)
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 = 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 (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)
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 (2020 $s)   (Q1 2023 $s)   (2045 $s)
Decommissioning Alternative Decon-Alt
Decon-Alt Period                                                   Millions     Millions     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%
Cost escalation rate 3.25%
Other Systems/Structures and Site Restoration                                 $         0.0 $       0.0   0%
Obtained from KCC Docket 21-WCNE-103-GIE
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%
(2020 $s) (Q1 2023 $s) (2045 $s)
Decon-Alt Period Millions Millions 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.
August 2020 study is approved by the KCC for the Decon Alt method.
Enclosure III to WM 23-0009


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)
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%)
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%
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)
TOTAL KGE (47%) KCPL (47%) KEPCo (6%)
 
Market Value of External Sinking $ 318,770.7686,711.9 $ 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%
 
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)
(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%
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)
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%
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)
(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%
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)
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%
 
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)
(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%
 
Missouri               N/A                                                   N/A After Tax Earnings on Funds Kansas 2015 - 2025       6.74%                                                 5.20%
KEPCo
2026 - 2035       5.33%
 
2036 - 2043       4.15%
Market Value of External Sinking 33,401.0 Fund as of 12/31/22
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}}
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}}

Revision as of 17:33, 14 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)

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 Great Plains Energy (KGE, 47% ownership) (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 $318.77 $334.54 $33.40 $686.71 included 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.

See Attached Schedules $128.45 $73.83 $12.10 $214.38

4) The assumptions used regarding:

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

(d)Real rate of return for current period, rate reduces in subsequent years; 1.47% 2.07% 1.95%

Kansas 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 None None be consistent with Evergy Metro and the Evergy Pension plans.

Other information; estimated corporate tax rate 20.00% 20.00% Non-taxable Enclosure II to WM 23-0009

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

(1 page)

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

(2020 $s) (Q1 2023 $s) (2045 $s)

Decon-Alt Period Millions Millions 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 $ 318,770.7686,711.9 $ 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%

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 $ 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%

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 $ 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%

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 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%

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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