ML19260A002

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Notifies That Recent Interim Rate Increase & Addl Increase Expected by Mar 1980 Will Enable Resumption of Const Around 800601
ML19260A002
Person / Time
Site: Braidwood  Constellation icon.png
Issue date: 10/19/1979
From: Peoples D
COMMONWEALTH EDISON CO.
To: Moon C
Office of Nuclear Reactor Regulation
References
NUDOCS 7910260275
Download: ML19260A002 (2)


Text

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Commonwealth Ediso-one First National Plaza. Chit... Illinois Address Reply to: Post Office Box 767 Chicago, lilinois 60690 October 19, 1979 Mr. Calvin W. Moon, Project Manager Light Water Reactors - Branch #4 Division of Project Management U.S. Nuclear Regulatory Commission Washington, DC 20555

Subject:

Braidwood Station Units 1 and 2 Resumption of Construction NRC Docket Nos. 50-456 and 50-457

Dear Mr. Moon:

Recently, Commonwealth Edison Company halted construction at Braidwood Nuclear Station because of a temporary cash flow squeeze caused by inadequate rate relief. In September,the Illinois Commerce Commission granted a 1.65% across-the-board interim rate increase. The funds which will be generated by this rate increase will be inadequate to allow Commonwealth Edison to issue new first-mortgage bonds necessary to raise the capital for Braidwood Station construction.

Last week a re-hearing of this interim rate order was completed. The Illinois Commerce Commission did not allow any additional rate increase.

The Company expects to receive an additional rate increase no later than March, 1980, at the conclusion of the full, ll-month, rate proceeding.

Assuming that the Illinois Commerce Commission will grant an appropriate increase in rates and allowing 3 months for the gen-eration of cash flow, Commonwealth Edison expects to resume con-struction at Braidwood Station about June 1, 1980.

The net effect of this change is to return the Byron end Braidwood Station start-up schedules to their original position of approximately one year apart. From the standpoint of efficient utilization of engineers at both Commonwealth Edison and the NRC it is important that the licensing process for both Byron and Braidwcod Stations go forward, as it has. g$

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Mr. Calvin W. Moon October 19, 1979 Page two You may expect our full cooperation and presentation of documents which should help you conduct the necessary reviews of both Byron and Braidwood Nuclear Stations.

Should you have any questions, please call or write this office.

Sincerely, D. L. Peoples Director of Nuclear Licensing g

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