ML112351241
| ML112351241 | |
| Person / Time | |
|---|---|
| Site: | Brunswick  |
| Issue date: | 11/14/2011 |
| From: | Szabo A Division of Inspection and Regional Support |
| To: | |
| Szabo, A L, NRR/DPR, 415-1985 | |
| References | |
| Download: ML112351241 (5) | |
Text
Datasheet 1 Plant name: Brunswick Steam Electric Plant, Unit 2 Docket Number: 50-324 1 The minimum financial assurance (MFA) estimate pursuant to 10 CFR 50.75(b) & (c): $587.9million Did the licensee identify the amount of estimated radiological funds? (Y/N) Y 2 The total amount of dollars accumulated at the end of the appropriate year: (see below)
Licensee: % Owned: Category: Amount in Trust Fund:
Progress Energy Carolinas, Inc. 81.67% 1 $247,040,027 North Carolina Eastern Municipal 18.33% 1 $87,015,018 Power Agency Total Trust Fund Balance $334,055,045 3 Schedule of the annual amounts remaining to be collected: (provided/none) provided 4 Assumptions used in determining rates of escalation in decommissioning costs, rates of earnings on decommissioning funds, and rates of other factors used in funding projections: (see below)
Post-RAI Rate of Rate(s) of PUC RAI PUC Allowed Rates Real Rate Allowed through Decom Return on Escalation Rate Other Verified Needed Verified through Determined of Return (Y/N)
Earnings Factors (Y/N) (Y/N) (Y/N) Decom (Y/N) (Y/N) variable1 3.00% variable1 Y N N Y N Y 5 Any contracts upon which the licensee is relying? (Y/N) N 6 Any modifications to a licensee's method of providing decommissioning funding assurance? (Y/N) N 7 Any material changes to trust agreements? (Y/N) Y2 If a change has occurred, the reviewer will document on this sheet that a change has occurred and identify the reviewer who will evaluate the change: (see below) 1 Rates provided are variable because the rates are not consistent throughout the funds of the licensee 2
Effective 2/16/2010 Progress Energy Service Company, LLC engaged Watson Wyatt Investment Consulting, Inc., a Tower Watson company as its new investment advisor. Towers Watson Advises Progress Energy on its trust investments including its nuclear decommissioning trusts.
Signature: Aaron L. Szabo Date: 7/26/2011 Signature: Jo Ann Simpson Spreadsheet created by: Aaron Szabo, Shawn Harwell Date: 8/10/2011 Formulas verified by: Clayton Pittiglio
Datasheet 2 Plant name: Brunswick Steam Electric Plant, Unit 2 Docket Number: 50-324 Month: Day Year:
Date of Operation: 12 31 2010 Termination of Operations: 12 27 2034 Latest Latest BWR/PWR MWth 1986$ ECI Base Lx Lx Px Base Px Fx Base Fx Ex Bx Month Px Month Fx BWR 2923 $130,307,000 112.8 1.98 0.65 2.23 1.676 191.4 114.2 3.049 250.0 82.0 0.13 2.307 0.22 12.54 NRC Minimum: $587,750,866 Site Specific:
Amount of NRC Minimum/Site Licensee: % Owned: Category Specific: Amount in Trust Fund:
Progress Energy Carolinas, Inc. 81.67% 1 $480,016,132 $247,040,027 North Carolina Eastern Municipal 18.33% 1 $107,734,734 $87,015,018 Power Agency Total Fund Balance: $334,055,045 Step 1:
Earnings Credit:
Real Rate of Return Years Left Trust Fund Balance: per year in License Total Earnings: Does Licensee Pass:
$334,055,045 2% 23.99 $537,189,987 NO Step 2:
Accumulation:
Value of Annuity per year Real Rate of Return Number of Annual (amount/See Annuity Sheet) per year Payments: Total Annuity:
see annuity sheet See Annuity Sheet See Total Step 2 Real Rate of Return Years remaining after Total Annuity per year annuity Total Step 2:
See Total Step 2 See Annuity Sheet N/A $88,790,510 Total Step 1 + Step 2 Does Licensee Pass:
$625,980,497 YES Step 3:
Decom Period:
Real Rate of Return Decom Total Earnings for Total Earnings: per year Period: Decom:
$625,980,497 2% 7 $46,537,164 Total of Steps 1 thru 3: Does Licensee Pass: Shortfall:
$672,517,661 YES NO Signature: Aaron L. Szabo Date: 7/26/2011 Signature: Jo Ann Simpson Spreadsheet created by: Aaron Szabo, Shawn Harwell Date: 8/10/2011 Formulas verified by: Clayton Pittiglio
Datasheet 2 Plant name: Brunswick Steam Electric Plant, Unit 2 Docket Number: 50-324 Month: Day Year:
Date of Operation: 12 31 2010 Termination of Operations: 12 27 2034 If licensee is granted greater than 2% RRR Step 4:
Earnings Credit:
Real Rate Years Type of Fund Trust Fund Balance: of Return Left in Total Earnings: Does Licensee Pass:
North Carolina Qualified Fund $153,364,633 3.00% 23.99 $602,223,875 YES All Others $180,690,412 2.00%
Step 5:
Accumulation:
Real Rate of Return Number of Annual Value of Annuity per year per year Payments: Total Annuity:
see annuity sheet See Annuity Sheet 0 See Total Step 4 Real Rate of Return Years remaining after Total Annuity per year annuity Total Step 5 See Total Step 4 See Annuity Sheet N/A $90,884,537 Total Step 4 + Step 5 Does Licensee Pass:
$693,108,412 YES Step 6:
Decom Period:
Real Rate of Return Decom Total Earnings for Total Earnings: per year Period: Decom:
$693,108,412 2.00% 7 $51,527,644 Total of Steps 4 thru 6: Does Licensee Pass: Shortfall:
$744,636,056 YES NO Signature: Aaron L. Szabo Date: 7/26/2011 Signature: Jo Ann Simpson Spreadsheet created by: Aaron Szabo, Shawn Harwell Date: 8/10/2011 Formulas verified by: Clayton Pittiglio
Datasheet 2 ANNUITY Termination of Operations: 12 27 2034 Real Rate Total Year Annuity: of Return: Accumulation 2011 $7,060,354 2% $11,354,032 2012 $7,060,354 2% $11,131,403 2013 $7,060,354 2% $10,913,141 2014 $7,060,354 2% $10,699,157 2015 $7,060,354 2% $10,489,370 2016 $7,060,354 2% $10,283,696 2017 $7,060,354 2% $10,082,055 2018 $678,033 2% $949,234 2019 $678,033 2% $930,621 2020 $678,033 2% $912,374 2021 $678,033 2% $894,484 2022 $678,033 2% $876,945 2023 $678,033 2% $859,750 2024 $678,033 2% $842,893 2025 $678,033 2% $826,365 2026 $678,033 2% $810,162 2027 $678,033 2% $794,276 2028 $678,033 2% $778,702 2029 $678,033 2% $763,434 2030 $678,033 2% $748,464 2031 $678,033 2% $733,789 2032 $678,033 2% $719,401 2033 $678,033 2% $705,295 2034 $678,033 2% $691,465 Total: $88,790,510 Signature: Aaron L. Szabo Date: 7/26/2011 Signature: Jo Ann Simpson Spreadsheet created by: Aaron Szabo, Shawn Harwell Date: 8/10/2011 Formulas verified by: Clayton Pittiglio
Datasheet 2 ANNUITY Termination of Operations: 12 27 2034 If licensee is granted greater than 2% RRR Real Rate Total Real Rate Total Real Rate Total Year Annuity: of Return: Accumulation Year Annuity: of Return: Accumulation Year Annuity: of Return: Accumulation North Carolina Qualified North Carolina NonQualified South Carolina and Wholesale 2011 $4,847,082 3.00% $9,850,394 2011 $8 2.00% $13 2011 $2,213,264 2.00% $3,559,236 2012 $96,902 3.00% $191,192 2012 $4,750,188 2.00% $7,489,180 2012 $2,213,264 2.00% $3,489,447 2013 3.00% $0 2013 $4,847,090 2.00% $7,492,114 2013 $2,213,264 2.00% $3,421,027 2014 3.00% $0 2014 $4,847,090 2.00% $7,345,209 2014 $2,213,264 2.00% $3,353,948 2015 3.00% $0 2015 $4,847,090 2.00% $7,201,186 2015 $2,213,264 2.00% $3,288,184 2016 3.00% $0 2016 $4,847,090 2.00% $7,059,986 2016 $2,213,264 2.00% $3,223,710 2017 3.00% $0 2017 $4,847,090 2.00% $6,921,555 2017 $2,213,264 2.00% $3,160,500 2018 3.00% $0 2018 $445,886 2.00% $624,232 2018 $232,147 2.00% $325,002 2019 3.00% $0 2019 $445,886 2.00% $611,992 2019 $232,147 2.00% $318,629 2020 3.00% $0 2020 $445,886 2.00% $599,993 2020 $232,147 2.00% $312,381 2021 3.00% $0 2021 $445,886 2.00% $588,228 2021 $232,147 2.00% $306,256 2022 3.00% $0 2022 $445,886 2.00% $576,694 2022 $232,147 2.00% $300,251 2023 3.00% $0 2023 $445,886 2.00% $565,386 2023 $232,147 2.00% $294,364 2024 3.00% $0 2024 $445,886 2.00% $554,300 2024 $232,147 2.00% $288,592 2025 3.00% $0 2025 $445,886 2.00% $543,432 2025 $232,147 2.00% $282,933 2026 3.00% $0 2026 $445,886 2.00% $532,776 2026 $232,147 2.00% $277,386 2027 3.00% $0 2027 $445,886 2.00% $522,330 2027 $232,147 2.00% $271,947 2028 3.00% $0 2028 $445,886 2.00% $512,088 2028 $232,147 2.00% $266,615 2029 3.00% $0 2029 $445,886 2.00% $502,047 2029 $232,147 2.00% $261,387 2030 3.00% $0 2030 $445,886 2.00% $492,203 2030 $232,147 2.00% $256,262 2031 3.00% $0 2031 $445,886 2.00% $482,552 2031 $232,147 2.00% $251,237 2032 3.00% $0 2032 $445,886 2.00% $473,090 2032 $232,147 2.00% $246,311 2033 3.00% $0 2033 $445,886 2.00% $463,814 2033 $232,147 2.00% $241,481 2034 3.00% $0 2034 $445,886 2.00% $454,719 2034 $232,147 2.00% $236,746 Total: $10,041,585 Total: $52,609,120 Total: $28,233,832 Total: $90,884,537 Signature: Aaron L. Szabo Date: 7/26/2011 Signature: Jo Ann Simpson Spreadsheet created by: Aaron Szabo, Shawn Harwell Date: 8/10/2011 Formulas verified by: Clayton Pittiglio