ML17312B558

Forwards Projected Cash Flow Statements for PVNGS Participants,Per 10CFR140.21(e).Cash Flow Statemement for El Paso Electric Co Should Be Withheld from Public Disclosure

ML17312B558
Person / Time
Site:	Palo Verde
Issue date:	07/10/1997
From:	LEVINE J M ARIZONA PUBLIC SERVICE CO. (FORMERLY ARIZONA NUCLEAR
To:	NRC OFFICE OF INFORMATION RESOURCES MANAGEMENT (IRM)
Shared Package
ML17312B559	List: ML17312B558 ML17312B560 ML17312B561 ML17312B562
References
102-03970-JML-A, 102-3970-JML-A, NUDOCS 9707180212
Download: ML17312B558 (10)

Text

j ATEQORY j.REGULATOIINPORMATION:DISTRIBUTION TEM (SIDS)AUTH.NAME'UTHOR AFFIIIATION LEVINE,J.M.

Arizona Public Service Co.(formerly Arizona Nuclear Power RECIP.NAME RECiPIENT AFFILIATION Document Control Branch (Document Control Desk)

SUBJECT:

Forwards projected cash flow statements for PVNGS Participants,per

.10CFR140.21(e},Cash flow statemement for El Paso Electric Co should be withheld from public disclosure, DISTRIBUTION CODE: MOOID COPIES RECEIVED:LTR L ENCL!SIZE!++/I5 TITIE: Insurance:

Indemnity/Endorsement Agreements ACCE!FUSION NBR:'3707 180 2 1 2 DOC.DATE: 97/07/1 0 NOTARY Z ED: YES DOCK FT FACA'~:STN-50-528 Palo Verde Nuclear Station,'Unit.

1, Arizona Publ,i 05000528 STN-50-529 Palo Verde'Nuclear Station,"Unit 2, Ar'zona Publi 05000529 STN-50-530 Pa1o Verde Nuclear Station, Ua,'.t 3, Arizona Publi 05000530 NOTES:STANDARDIZED PLANT Standardized plant.Standardized plant.05000528 05000529 G 05000530 0 RECIPIENT ID CODE/NAME THOMAS,K INTERNAL: CENTER 01 COPIES LTTR ENCL 1 0 RECiPIENT ID CODE/NAME COPIES LTTR ENCL EXTERNAL: NRC PDR E NOTE TO ALL NRIDSrI RECIPIENTS:

PLEASE HELP US TO REDUCE WASTE!CONTACT THE DOCUMENT CONTROL DESK/ROOM OWFN 5D"5(EXT.415-2083)TO ELIMINATE YOUR NAME FROM DISTRIBUTION LISTS FOR DOCUMENTS YOU DON'T NEED!TOTAL NUMBER OF COPIES REQUIRED: LTTR 3 ENCL 2 l"~4**~'

Co rl~rn~lron, ecmy.Palo Verde Nuclear Generating Station James M.Levine Senior Vice President Nuclear TEL (602)393-5300 FAX (602)3934077.

Mail Station 7602 P.O.Box 52034 Phoenix, AZ 85072-2034 U.S.Nuclear Regulatory Commission ATl N: Document Control Desk Mail Station P1-37 Washington, DC 20555-0001 10CFR 140.21 (e)102-03970-JML/AKK/JRP July 10, 1997

Subject:

Palo Verde Nuclear Generating Station (PVNGS)Units 1, 2, and 3 Docket Nos.STN 50-528/529/530 Licensee Guarantee of Payment of Deferred Premium Pursuant to the requirements of 10 CFR 140.21(e), Arizona Public Service Company (APS), for itself and on behalf of the PVNGS Participants, herewith submits the projected cash flow statements (enclosure).

Please note that the projected cash flow statement for the El Paso Electric Company is considered a CONFIDENTIAL DOCUMENT, for which an affidavit is provided.The affidavit sets forth the basis on which the information may be withheld from public disclosure by the Commission and specifically addresses the considerations listed in 10CFR 2.790 (b)(1)(ii).Accordingly, it is requested that the El Paso Electric Company projected cash flow statement be withheld from public disclosure in accordance with 10CFR 2.790(b)(1).Should you have any questions, please contact Scott A.Bauer at (602)393-5978.Sincerely, JML/AKK/J RP/mah Enclosure cc: E.W.Merschoff K.E.Perkins K.M.Thomas F.L.Brush tQOOJd 9707i802i2 9707i0 PDR ADOCK 05000528,,'DR LI IIIIIII!Illlllllllllllllllllllllllllllll

1997 PRO FORMA CASH FLOW STATEMENT FOR PUBLIC SERVICE COMPANY OF NEW MEXIOC (EXCLUDING NON-UTILITY SUBSIDIARIES)

• 1996 Actual Net Income AAer Taxes Less Dividends Paid Earnings Retained Adjustmcnts:

Depreciation 4 Amortization Dcfcrrcd Income Taxes Ec Invcstmcnt Tax Credits Allowance for Equity Funds Used During Construction Other, Nct TOTAL ADJUSTMENTS INTERNAL CASH FLOW 72,580 15 560 57,020 91,340 26,960 0~39 162 79 138 136 158 77,929 20 596 57,333 95,588 2,172 0~14 437 83 323 140 656 Avcragc Quarterly Cash Flow Pcrccntagc Entitlcmcnt in all Nuclear Units: Palo Verde Unit 1-10/2%Palo Verde Unit 2-10/2%Palo Vcrdc Unit 3-10.2%34,040 35,164'8Dollazs.

inThousands BY: Tom Satcgna Assistant Controller 0'L j I\

INTERNAL.~H FLOW PROJECTION OF SALT RIVE OJECT (JOINT OWNER OF PALO VERDE NUCLEAR GENERATING STATION)FOR FISCAL YEARS ENDED APRIL 30, 1996 and 1997 ($000)1996 1997 ACTUAL ACTUAL Net Income after taxes Less dividends paid: Preferred dividend requirements Dividends on common stock$94,376$57,212 Retained Earnings 94,376 57,212 Adjustments:

Depreciation and amortization Deferred Income Taxes and Investment Tax Credits Allowance for Funds Used During Construction 9,584 8,743 210,470 238,510 Total Adjustments Internal Cash Flow 220,054 247,253 314,430 304,465 Average Quarterly Cash Flow$78,608$76,116 Percentage Ownership in all nuclear units Unit 1 Unit 2 Unit 3 17 49%17 49 17.49%17 49 17 49%17 49%I, Dean Yee, Corporate Treasurer of the Salt River Project Agricultural Improvement and Power District certify that the above figures are based upon our Accounting Records, and agree, as appropriate with our audited financial statements.

Dean Yee PVNGSICF.XLS6/1 3/97

(~

INTERNAL CASHFLOW PROJECTION OF ARIZONA PUBLIC SERVICE COMPANY (Joint Owner Of Palo Verde Nuclear Generating Station'*)

($000)1995 Actual 1996 Actual 1997 Est/Imate 1.Net Income After Taxes Less: 2.Dividends Paid on Preferred Stock 3.Dividends Paid on Common Stock 4.Retained Earnings 19,134 170,000 50,436 17,416 170,000 56,325 13,796 170,000 55,360$239,570$243,741$239,156 Adjustments:

5.Value to market for office property 6.Accelerated Amortization of Regulatory Assets (1)7.Depreciation and Amortization (2)8.Deferred income Taxes 9.Deferred ITC (Net)10.Allowance for Funds Used During Construction (Equity&Borrowed)11.Decommissioning 12.Total Adjustments 13.Internal Cash Flow (Line 4+Line 12)14.Average Quarterly Cash Flow (Line 13/4)13,451 273,685 15,346 (27,641)(14,047)(12,174)248,620 299,056 74,764 59,649 271,127 (12,717)(27,630)(14,718)(11,115)264,596 320,921 80,230 117.772 283,259 (62,915)(27,630)(11,877)(11,444)287,165 342,525 85,631 NOTES: '-Percentage Ownership in All Nuclear Units: Unit 1-29.1%Unit 2-29.1%(3)Unit 3-29.1%(1)Related to 4/96 ACC settlement agreement.

(2)Includes Nuclear Fuel Amortization.

(3)Includes the leased portion of Palo Verde Unit 2.I, Gary Volkenant, Director of APS Financial Services certify that these cashflow calculations utilize the Company's approach to estimating cash flows for internal management reports and planning purposes.The 1995 and 1996 cashflows agree as appropriate with the Company's Audited Annual Reports.The 1997 estimate of cashflows is based on the 1997 Company Budg/The 1997 estimate does not reflect actua results to date, as the Budget is not revised to refl c anging condi'ons.G olkena Dir ctor, Fin nci Services, APS H.'ISNSSRVC%EOUESPCSHFLPROJCS 7 P