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 1

Vice 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

• APR 13 1994 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

RJBLIC SERVICE ~C 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 Explanation of Sicmificant Variations Net Incaoo $ 614,868 $ 661,547 less Dividen:ls Paid 531,314 539,072 Retained in Business $ 83,554 $ 122.475 Adjustments:

Depreciation $ 502,206 $ 521,408 Am:>rtization of Nuclear F\lel. 102,718 82,928 Anticipated acklitional a.rt:ages.

Deferred Incane Taxes arxi Investirent Tax Credits 76,787 54,778 Primarily Deferred Taxes on Loss on Reacquired Debt.

Statement of Financial Acccuntin;J (4,853) (4,221) Ao::retion to Incane related to varioos stan:lards No. 90 - Regulated abarrlonments.

Enterprises - AcxnJntin;J for Abarrlorments arxi Disallowance of Plant Costs (SFAS 90)

Allowance for F\ll'rls Used Durin;J Construction (27,080) (37, 000) Increased oon.st.J:uction experrlitures.

Total Adjustments $ 649,778 $ 617.893 Internal cash Flow $ 733,332 $ 740,368 Average Quarterly cash Flow $ 183,333 $ 185,092

'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.

ATLANTIC CITY ELECTRIC COMPANY PROJECTED INTERNAL CASH FLOW STATEMENT FOR YEAR 1994 - COMPARED TO 1993 ACTUAL Projected 1994 (Thousands of Dollars) l Actual 1993 Explanation of Significant Variations Net Income $109,026 $110,596 Less Dividends 98,752 99,853 Retained in Business 10,274 10,743 Major Adjustments:

Depreciation and Amortization 67,950 76,023 Levelized Energy Clause - Net (15,269) (3,157) Increased rates to recover deferred costs.

Deferred Income Taxes and Investment Tax Credits 16,213 16,210 Unrecovered Purchased Power Costs (6,050) 14,580 1993 includes payment to independent power producers for contract renegotiations versus projected amortization of deferred costs.

Allowance for Funds Used During Construction (3,816) (7,089)

State Excise Tax (35,982) (36,748)

Other 42,581 (20,452) Primarily changes in working capital components.

65,627 39,367 Total Adjustments $ 75,901 $ 50,110 Average Quarterly Cash Flow Nuclear Generating Station Percentage OWnership Salem Unit #1 7.41%

Salem Unit #2 7.41%

Hope Creek #1 5.00%

Maximum Contingent Liability $1,982 (Severally and Not Jointly)

As indicated by this statement, the Average Quarterly Cash Flow fully covers the maximum contingent liability of Atlantic City Electric Company which amounts to $1,982,000~.'

shown above. W' Atlantic City Electric Company By: ~~4=<"-~kJ Frank F. Frankowski Date _.3-F-,J,__*.f'-;;..._9_y!__

V.P. - Controller & Assistant Treasurer

..

Delmarva Power & Light Company Projected Internal Cash Flow Statement ForYear 1994 Compared to 1993 Actual

($000) 1993 1994 Actual Projected Explanation of Significant Variances Net Income $111,076 $109,184 Dividends Paid Retained in Business (98,031 13,045 (100,854) 8,330

.e Adjustments:

Depreciation 102,970 110,836 Higher projected average plant-In-service balances In 1994.

Deferred Income Taxes and Investment Tax Credits (3,686 8,905 The sale of certain assets resulted in a net deferred tax expense credit in 1993.

Allowance for Funds 1-Jsed During Construction (8,713 (5,209 Other non-cash expense (income) (5,438 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.

Total Adjustments 85,133 118,420 Internal Cash Flow $98,178 $126,750 Average Quarterly Cash Flow * $24,545 $31,688 anynassufficient cash flow to ensure that its respective premiums would be available for payment.

~---- \_-)L P. Lavin t::r Date March 7, 1994 ..

troller and Chief Accounting Officer