ML091520029

Annual Report of Guarantee of Payment of Deferred Premium

ML091520029
Person / Time
Site:	Palo Verde, San Onofre
Issue date:	05/27/2009
From:	Scherer A Southern California Edison Co
To:	Document Control Desk, Office of Nuclear Reactor Regulation
References
Download: ML091520029 (3)

Text

SOUTHERN CALIFORNIA A. Edward Scherer EDISON oDirector Nuclear Regulatory Affairs An EDISON INTERNATIONAL Company May 27, 2009 U. S. Nuclear Regulatory Commission ATTN: Document Control Desk Washington, D. C. 20555

Subject:

Docket Nos. 50-361, 50-362, 50-528, 50-529, and 50-530 Annual Report of Guarantee of Payment of Deferred Premium San Onofre Nuclear Generating Station Units 2 and 3 Palo Verde Nuclear Generating Station Units 1, 2, and 3

Dear Sir or Madam:

10 CFR 140.21 requires Southern California Edison (SCE), as agent for the owners of the San Onofre Nuclear Generating Station Units 2 and 3 and SCE's 15.8% ownership share of Palo Verde Units 1, 2, and 3, to provide evidence that it maintains a guarantee of payment of deferred premium in an amount of $17.5 million for each reactor SCE is licensed to operate. In accordance with option (e) of 10 CFR 140.21 and with 10 CFR 50.71(b), SCE has provided its quarterly Form 10-Q report to the Securities and Exchange Commission in lieu of an annual certified financial statement.

SCE is providing the enclosed 2008 Internal Cash Flow statement which is from the consolidated financial statements included in SCE's 2008 annual report.

There are no commitments contained in this letter or its enclosure.

If you have any questions or require further information about this matter, please contact Ms. L. T. Conklin at 949-368-9443.

Sincerely, P.O. Box 128 San Clemente, CA 92674

Document Control Desk May 27, 2009 Enclosure cc: E. E. Collins, Regional Administrator, NRC Region IV R. Hall, NRC Project Manager, San Onofre Units 2 and 3 G. G. Warnick, NRC Senior Resident Inspector, San Onofre Units 2 and 3

SOUTHERN CALIFORNIA EDISON COMPANY 2008 Internal Cash Flow (Dollars in Millions) 2008 Actual Net Income After Taxes $734 Dividends Paid ($376)

Retained Earnings $358 Adjustments:

Depreciation & Decommissioning $1,114 Net Deferred Taxes & ITC $131 Allowance for Funds Used During Construction ($81)

Total Adjustments $1,164 Internal Cash Flow $1,522 Average Quarterly Cash Flow $381 Percentage Ownership in All Nuclear Units:

San Onofre Nuclear Generating Station Units 2 & 3 o Southern California Edison Company 78.21%

o San Diego Gas & Electric Company 20.00%

o City of Riverside 1.79%

Palo Verde Nuclear Generating Station Units 1, 2 & 3 15.80%

Maximum Total Contingent Liability:

San Onofre Nuclear Generating Station Unit 2 $17.50 (1)

San Onofre Nuclear Generating Station Unit 3 $17.50 (1)

Palo Verde Nuclear Generating Station Unit I $2.77 (2)

Palo Verde Nuclear Generating Station Unit 2 $2.77 (2)

Palo Verde Nuclear Generating Station Unit 3 $2.77 (2)

Total $43.30 (1) The value represents 100% of the SONGS Annual Per Incident Contingent Liability. The Maximum Total Contingent Liability was increased to $17.50 (Dollars in Millions) per reactor, as announced in the Federal Register, Volume 73, No. 189, Monday, September 29, 2008, Page 56,451, and became effective on October 29, 2008.

(2) The value represents 15.8% (SCE's Share) of the Palo Verde Annual Per Incident Contingent Liability