ML050960371

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Decommissioning Financial Assurance Reports
ML050960371
Person / Time
Site: Oconee, Mcguire, Catawba, McGuire  Duke Energy icon.png
Issue date: 03/30/2005
From: Morris J
Duke Energy Corp, Duke Power Co
To:
Document Control Desk, Office of Nuclear Reactor Regulation
References
Download: ML050960371 (17)
v • d • e


Text

JAMES R MORRIS kDue Vice President, Nuclear Support Nuclear Generation Duke Power 526 South Church St.

Charlotte, NC 28202 Mailing Address:

EC07H / P0 Box 1006 March 30, 2005 Charlotte, NC 28201-1006 U. S. Nuclear Regulatory Commission 704 382 6401 Washington, DC 20555-0001 WahngoDC255-01james. 704 382 6056 fax morris@duke-energy. corn Attention: Document Control Desk

Subject:

Duke Energy Corporation Oconee Nuclear Station, Units 1,2, and 3 Docket Nos. 50-269, 50-270,50-287 McGuire Nuclear Station, Units 1 and 2 Docket Nos. 50-369, 50-370 Catawba Nuclear Station, Units 1 and 2 Docket Nos. 50-413, 50-414 Decommissioning Financial Assurance Reports Enclosed are the required Decommissioning Financial Assurance reports pursuant to 10 CFR 50.75(f)(1) for Oconee, McGuire, and Catawba Nuclear Stations. The report contains the following information for each nuclear plant:

(1) Amount of decommissioning funds estimated to be required pursuant to 10 CFR 50.75 (b) and (c).

(2) Amount accumulated to the end of the calendar year preceding the date of the report.

(3)Schedule of annual amounts remaining to be collected.

(4) Assumptions used regarding rates of escalation in decommissioning costs, rates of earnings on decommissioning funds, and rates of other factors used in funding projections.

(5) Contracts upon which the licensee is relying pursuant to paragraph 10 CFR 50.75 (e)(1)(v).

(6) Modifications occurring to a licensee's current method of providing financial assurance since the last submitted report.

(7) Material changes to trust agreements.

If there are any questions concerning this information, please contact Carl Council at (704) 382-7387.

Very truly yours, J s R. Morris Attachments www. dukepower. corn

U. S. Nuclear Regulatory Commission March 30, 2005 Page 2 xc: (w/attachments)

W. D. Travers, Regional Administrator U. S. Nuclear Regulatory Commission Region II Sam Nunn Atlanta Federal Center 61 Forsyth St., SW, Suite 23T85 Atlanta, GA 30303-8931 Michael A. Dusaniwskyj U. S. Nuclear Regulatory Commission Mail Stop 012-D3 Washington, DC 20555-0001 L. N. Olshan (addressee only)

NRC Senior Project Manager (ONS)

U. S. Nuclear Regulatory Commission Mail Stop 0-8 H12 Washington, DC 20555-0001 J. J. Shea (addressee only)

NRC Project Manager (MNS)

U. S. Nuclear Regulatory Commission Mail Stop 0-8 H12 Washington, DC 20555-0001 S. E. Peters (addressee only)

NRC Senior Project Manager (CNS)

U. S. Nuclear Regulatory Commission Mail Stop 0-8 H12 Washington, DC 20555-0001 M. C. Shannon, NRC Senior Resident Inspector Oconee Nuclear Station J. B. Brady, NRC Senior Resident Inspector McGuire Nuclear Station E. F. Guthrie, NRC Senior Resident Inspector Catawba Nuclear Station

NRC Decommissioning Funding Status Report Report Date March 31, 2005 Duke Power Company Oconee Nuclear Station 100% Ownership Unit #1 Oconee Unit 1

1. The minimum decommissioning fund estimate, pursuant to 10 CFR 50.75 (b) and (c). $ 339,814,205
2. The amount accumulated at the end of the calendar year preceding the date of the report for items included in 10 CFR 50.75 (b) and (c). (Alternatively, the total amount accumulated at the end of the calendar year preceding the date of the report can be reported here ifthe cover letter transmitting the report provides the total estimate and Indicates what portion of that estimate Is Qualified Non Qualified for Items not Included in 10 CFR 50.75 (b) and (c)). $ 93,913,484 $ 88,313,958
3. A schedule of the annual amounts remaining to be collected; Yer Qualified Non Qualified for Items In 10 CFR 50.75 (b) and (c). (Alternatively, the annual 2005 $ 3,104,759 $ 3,515,472 amounts remaining to be collected can include Items beyond those 2006 $ 3,104,759 S 3,515,472 required In 10 CFR 50.75 (b) and (c) it the cover letter 2007 $ 3,104,759 $ 3,515,472 transmitting the report provides a total cost estimate and 2008 $ 3,104,759 $ 3,515,472 indicates what portion of that estimate is for hems that are not 2009 $ 3,104,759 $ 3,515,472 Included In 10 CFR 50.75 (b) and (c). 2010 $ 3,104,759 $ 3,515,472 2011 $ 3,104,759 $ 3,515,472

^ Annual amounts are based on the likelihood that units will be 2012 $ 3,104,759 $ 3,515,472 shut down five years prior to the license expiration date. 2013 $ 3,104,759 $ 3,515,472 2014 $ 3,104,759 $ 3,515,472 2015 $ 3,104,759 $ 3,515,472 2016 $ 3,104,759 $ 3,515,472 2017 $ 3,104,759 $ 3,515,472 2018 $ 3,104,759 $ 3,515,472 2019 $ 3,104,759 $ 3,515,472 2020 $ 3,104,759 $ 3,515,472 2021 $ 3,104,759 $ 3,515,472 2022 $ 3,104,759 $ 3,515,472 2023 $ 3,104,759 $ 3,515,472 2024 $ 3,515,472 2025 $ 3,104,759 $ 3,515,472 2026 $ 3,104,759 $ 3,515,472 2027 $ 3,104,759 $ 3,515,472 2028 $ 3,104,759 $ 3,515,472 2029 $ - S 2030 $ - $

2031 $ - $

2032 $ - 4 2033 $ - $

$ 74,514,218 S 84,371,324

4. The assumptions used regarding escalation in decommissioning inflation - 4%

cost, rates of earnings on decommissioning funds, and rates of qualified rate of return - 5%

other factors used In funding projections; non-qualified rate of return - 4.5%

5. Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v). NIA
6. Any modifications to a licensee's current method providing financial assurance occurring since the last submitted report. N/A
7. Any material changes to trust agreements.

Sixth Postellective Amendment to the Duke Power Company Master Decommissioning Trust Agreement was executed April 27 2004 allowing for the establishment of the General Nonqualited Fund which consists of contributions by the company for Non-NRC decommissioning of any or all of the plants, plus earnings and appreciation thereon.

Amendment to the Investment management agreement with AllianceBemstein was executed January 30, 2004 which changed the investment mandate from the manager's International Value strategy to its International Style Blend strategy. The International Style Blend strategy is a targeted 50/50 combination of the manager's International Value and Intemational Growth strategies and was selected to reduce the value bias of the qualified trust's international equity portfolio.

NRC Decommissioning Funding Status Report Report Date March 31, 2005 Duke Power Company Oconee Nuclear Station 100% Ownership Unit #2 Oconee Unft 2

1. The minimum decommissioning fund estimate, pursuant to 10 CFR 50.75 (b) and (c). $ 339,814,205
2. The amount accumulated at the end of the calendar year preceding the date of the report for items Included In 10 CFR 50.75 (b) and (c). (Alternatively, the total amount accumulated at the end of the calendar year preceding the date of the report can be reported here ifthe cover letter transmitting the report provides the total estimate and Indicates what portion of that estimate Is Qualified Non Qualified for Items not included in 10 CFR 50.75 (b) and (c)). $ 100,803,325 $ 91,886,598
3. A schedule of the annual amounts remaining to be collected; Year Qualified Non Qualified for Items In 10 CFR 50.75 (b) and (c). (Alternatively, the annual 2005 $ 3,508,726 $ 2,483,791 amounts remaining to be collected can Include Items beyond those 2006 $ 3,508,726 $ 2,483,791 required In 10 CFR 50.75 (b) and (c) If the cover letter 2007 $ 3,508,726 $ 2,483,791 transmitting the report provides a total cost estimate and 2008 $ 3,508,726 $ 2,483,791 Indicates what portion of that estimate Is for items that are not 2009 $ 3,508,726 $ 2,483,791 Included In 10 CFR 50.75 (b) and (c). 2010 $ 3,508,726 $ 2,483,791 2011 $ 3,508,726 $ 2,483,791 Annual amounts are based on the likelihood that units will be 2012 $ 3,508,726 $ 2,483,791 shut down five years prior to the license expiration date. 2013 $ 3,508,726 $ 2,483,791 2014 $ 3,508,726 $ 2,483,791 2015 $ 3,508,726 $ 2,483,791 2016 $ 3,508,726 $ 2,483,791 2017 $ 3,508,726 $ 2,483,791 2018 $ 3,508,726 $ 2,483,791 2019 $ 3,508,726 $ 2,483,791 2020 $ 3,508,726 $ 2,483,791 2021 $ 3,508,726 $ 2,483,791 2022 $ 3,508,726 $ 2,483,791 2023 $ 3,508,726 $ 2,483,791 2024 $ 3,508,726 $ 2,483,791 2025 $ 3,508,726 $ 2,483,791 2026 $ 3,508,726 $ 2,483,791 2027 $ 3,508,726 $ 2,483,791 2028 $ 3,508,726 $ 2,483,791
  • 2029 2030 S - S -

2031 S - $

2032 S - $

2033 S - $

S 84,209,414 $ 59,610,978

4. The assumptions used regarding escalation in decommissioning Inflation - 4%

cost, rates of earnings on decommissioning funds, and rates of qualified rate of return - 5%

other factors used in funding projections; non-qualified rate of return - 4.5%

5. Any contracts upon which the licensee Is relying pursuant to 10 CFR 50.75(e)(1)(v). N/A
6. Any modifications to a licensee's current method providing financial assurance occurring since the last submitted report. N/A
7. Any material changes to trust agreements.

Sixth Posteffective Amendment to the Duke Power Company Master Decommissioning Trust Agreement was executed April 7, 2004 allowing for the establishment of the General Nonqualifed Fund which consists of contributions by the company for Non-NRC decommissioning of any or all of the plants, plus earnings and appreciation thereon.

Amendment to the Investment management agreement with AllianceBemstein was executed January 30, 2004 which changed the investment mandate from the manager's International Value strategy to its International Style Blend strategy. The International Style Blend strategy is a targeted 50/50 combination of the manager's Intemational Value and International Growth strategies and was selected to reduce the value bias of the qualified trust's International equity portfolio.

NRC Decommissioning Funding Status Report Report Date March 31, 2005 Duke Power Company Oconee Nuclear Station 100% Ownership Unit #3 Oconee Unit 3

1. The rninimum decommissioning fund estimate, pursuant to 10 CFR 50.75 (b) and (c). $ 339,814,205
2. The amount accumulated at the end of the calendar year preceding the date of the report for items included In 10 CFR 50.75 (b) and (c). (Alternatively, the total amount accumulated at the end of the calendar year preceding the date of the report can be reported here if the cover letter transmitting the report provides the total estimate and indicates what portion of that estimate is Qualified Non Qualified for items not Included In 10 CFR 50.75 (b) and (c)). S 132,789,564 $ 92,537.753
3. A schedule of the annual amounts remaining to be collected; Year Qualified Non Qualified for Items in 10 CFR 50.75 (b) and (c). (Alternatively, the annual 2005 $ 4,937,465 $* 4,024,208 amounts remaining to be collected can include Items beyond those 2006 $ 4,937,465 $ 4,024,208 2007 $ 4,937,465 $ 4,024,208 required In 10 CFR 50.75 (b) and (c) if the cover letter transmitting the report provides a total cost estimate and 2008 $ 4,937,465 $ 4,024,208 indicates what portion of that estimate is for items that are not 2009 $ 4,937,465 $ 4,024,208 included in 10 CFR 50.75 (b) and (c). 2010 $ 4,937,465 $ 4,024,208 2011 $ 4,937,465 $i 4,024,208 2012 $ 4,937,465 S 4,024,208 Annual amounts are based on the likelihood that units will be shut down five years prior to the license expiration date. 2013 $ 4,937,465 $i 4,024,208 2014 $ 4,937,465 $ 4,024,208 2015 $ 4,937,465 $ 4,024,208 2016 S 4,937,465 $ 4,024,208 2017 $ 4,937,465 $ 4,024,208 2018 $ 4,937,465 5 4,024,208 2019 $ 4,937,465 $ 4,024,208 2020 $ 4,937,465 $ 4,024,208 2021 $ 4,937,465 $ 4,024,208 2022 $ 4,937,465 $ 4,024,208 2023 $ 4,937,465 $ 4,024,208 2024 $ 4,937,465 $ 4,024,208 2025 $ 4,937,465 $ 4,024,208 2026 $ 4,937,465 $ 4,024,208 2027 $ 4,937,465 $ 4,024,208 2028 $ 4,937,465 $ 4,024,208 2029 $ 4,937,465 $ 4,024,208 2030 $

2031 $

2032 $

2033 S 2034 S

$ 123,436,618 $ 100,605,208

4. The assumptions used regarding escalation in decommissioning inflation - 4%

cost, rates of earnings on decommissioning funds, and rates of qualified rate of return - 5%

other factors used in funding projections; non-qualified rate of return -4.5%

5. Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v). N/A
6. Any modifications to a licensee's current method providing financial assurance occurring since the last submitted report. N/A
7. Any material changes to trust agreements.

Sixth Posteffective Amendment to the Duke Power Company Master Decommissioning Trust Agreement was executed April 27, 2004 allowing for the establishment of the General Nonqualifed Fund which consists of contributions by the company for Non-NRC decomrissioning of any or all of the plants, plus earnings and appreciation thereon.

Amendment to the investment management agreement with AllianceBemstein was executed January 30, 2004 which changed the investment mandate from the manager's Intemational Value strategy to its Intemational Style Blend strategy. The Intemational Style Blend strategy is a targeted 50/50 combination of the manager's Intemational Value and International Growth strategies and was selected to reduce the value bias of the qualified trusts international equity portfolio.

NRC DecomrnissIoning Funding Status Report Report Date March 31, 2005 Duke Power Company McGuire Nuclear Station 100%/ Ownership Unit #1 McGutre Unit 1

1. The minimum decommissioning fund estimate.

pursuant to 10 CFR 50.75 (b) and (C). S 370,066,200

2. The amount accumulated at the end of the calendar year preceding the date of the report for Items Included In 10 CFR 50.75 (b) and (c). (Altematfvely, the total amount accumnlated at the end of the calendar year preceding the date of the report can be reported here If the cover letter transmitting the report provides the total estimate and Indicates what portion of that estimate Is Oualified Non Oualified for Hems not Included In 10 CFR 50.75 (b) and (c)). $ 136,797,219 $ 48,763,822
3. A schedule of the annual amounts remaining to be collected; ye2r Qualified Non Oualified for Hems in 10 CFR 50.75 (b) and (c). (Altematively. the annual 2005 S 7,799,571 1,327,020 amounts remaining to be collected can Include items beyond those 2007 S 7,799571 S 1,327,020 required in 10 CFR 50.75 (b) and (c) I the cover letter 2007 S 7,799,571 S 1,327.020 transmitting the report provides a total cost estimate and 2008 S 7,799.571 S 1,327,020 Indicates what portion of that estimate Is for Items that are not 2009 S 7,799,571 1 1,327.020 Included in 10 CFR 50.75 (b) and (c). 2010 $ 7,799,571 1 1,327,020 2011 S 7,799,571 S 1,327,020 Annual amounts are based on the likelihood that units will be 2012 S 7,799,571 3 1,327,020 shut down five years prior to the license expiration date. 2013 $ 7,799,571 S 1,327,020 2014 $ 7,799,571 S 1,327,020 2015 S 7,799,571 S 1,327,020 2016 S 7,799,571 S 1,327,020 2017 $ 7,799,571 S 1,327,020 2018 S 7,799,571 S 1,327,020 2019 $ 7,799,571 S 1,327020 2020 $ 7,799.571 S 1,327,020 2021 $ 7,799,571 S 1,327.020 2022 S 7,799,571 S 1,327,020 2023 $ 7,799,571 1 1,327,020 2024 $ 7,799,571 1 1,327,020 2025 S 7,799,571 1.327.020 2026 S 7,799,571 S 1,327,020 2027 S 7,799,571 1 1,327,020 2028 S 7.799,571 1,327,020 2029 S 7,799,571 1,327,020 2030 S 7,799,571 1 1.327,020 2031 $ 7,799,571 1,327,020 2032 $ 7,799,571 1 1 327,020 2033 S 7,799,571 SS 1,327,020 2034 S 7,799.571 S 1,327,020 2035 S 7,799.571 1,327,020 2036 $ 7,799,571 S 1,327,020
  • 2037 S 2038 S 2039 S 2 8 2040 S - S 2041 S -1S S 249,586,277 1 42,464.649
4. The assumptions used regarding escalation in decommissioning infilation -4%

cost, rates of earnings on decommissioning funds, and rates of qualified rate Ofretum - 5%

other factors used in funding projections; non-qualified rate of retum - 4.5%

5. Any contracts upon which the licensee Is relying pursuant to 10 CFR 50.75(a)(1)(v). N/A
6. Any modifications to a Ikensee's current method providing financial assurance occurring since the last submitted report. NIA
7. Any material changes to trust agreements.

Sixth Posleftective Amendment to the Duke Power Company Master Decommissioning Trust Agreement was executed April 27, 2004 allowing for the establishment of the General Nonqualifed Fund which consists of contributions by the company for Non-NRC decommissioning of any or all of the plants. plus earnings and appreciation thereon.

Amendment to the Investment management agreement with AllianceBernstein was executed January 30, 2004 which changed the Investment mandate from the manager's Intemational Value strategy to Its intemational Style Blend strategy. The Intemational Style Blend strategy Is a targeted 50/50 combination of the manager's Intemational Value and International Growth strategies and was selected to reduce the value bias of the qualified trusts international equity portfolio.

NRC Decommissioning Funding Status Report Report Date March 31, 2005 Duke PowerCompany McGuire Nuclear Station 100% Ownership Unit #2 McGulre Unit 2

1. The minimum decommissioning fund estimate.

pursuant to iO CFR 50.75 (b) and (c). $ 370,068,200

2. The amount accumulated at the end of the calendar year preceding the date of the report for items included ki 10 CFR 50.75 (b) and (c). (Alternatively; the total amount accumulated at the end of the calendar year preceding the date ot the report can be reported here it the cover letter transmitting the report provides the total estimate and indicates what portion of that estimate is ouased Non Cualified for items not included In10 CFR 50.75 (b) and (c)). $ 155,240,512 $ 27,459,773
3. A schedule of the annual amounts remaining to be collected; Qualfied Non CuaMfed for hems in 10 CFR 50.75 (b) end (c). (Alternatively the annual 2006 $ 11,527171 5t 2866068 amounts remaining to be collected can include items beyond those 2006 $ 11,527,171 286,068 required In 10 CFR 50.75 (b) and (c) It the cover letter 2007 S 11,527,171 S* 28i,068 transmitting the report provides a total cost estimnate and 2008 $ 11,527,171 St 26.068 indicates what portion of that estimate Is for items that are not 2009 $ 11,527,171 5i 286,068 inciuded in 10 CFR 50.75 (b) and (c). 2010 $ 11,527,171 $ 2B86068 2011$ 11,527,171 5 286,068 Annual amounts are based on the bkelihood that units will be 2012 $ 11,527,171 S 285,068 shut down five years prior to the icense expiration date. 2013 $ 11,527171 5 286.068 2014 $ 11,527,171 5* 286,068 2015 $ 11,527,171 S 286,068 2016 S 11,527,171 S 28068 2017 $ 11,527,171 S 286,068 2018 $ 11,527,171 5t 286,068 2019 $ 11,527,171 S 286,0i8 2020 S 11,527,171 S 266.068 2021 $ 11,527,171 S 288,068 2022 $ 11,527,171 5 286.068 2023 S 11,527,171 5* 286,068 2024 $ 11,527,171 5 288,068 2025 $ 11,527,171 S 286,068 2026 $ 11.527.171 Si 2866068 2D27 S 11,527,171 5; 286.068 2028 $ 11,527,171 S 286,068 2029 $ 11,527,171 S 286,068 2030 S 11,527,171 Si 286,068 2031 $ 11,527,171 S 286,068 2032 S 11.527,171 S 286,068 2033 S 11,527,171 S 288,068 2034 S 11,527,171 S 286,068 2035 $ 11,527,171 S 2B56068 2036 $ 11527171 5* 288,068 2037 5 11.527,171 5 2868068 2038 S 11527,171 S 28,068 20S9 $

2040 $ -5 2041 $ -5S 2042 S - S 2043 $ -5S S 391,923.818 B 5 9,7268306

4. The assumptions used regarding escalation Indecommissioning inflation -4%

cost, rates of earnings on decommissioning funds, and rates of quatfied rate of return -5%

other factors used in tunding proqections; non-qualified rate of return - 4.5%

5. Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v). 4,A
6. Any modifications to a iicensee s current method providing financial assurance occurring since the lest submtlted report. N/A
7. Any material changes to trust agreements.

Sixth Posteffective Amendment to the Duke Power Company Master Decommissioning Trust Agreement was executed April 27, 2004 allowing for the establishment of the General Nonqualifed Fund which consists of contrbutions by the company for Non-NRC decommissioning of any or all of the plants, plus earrmgs and appreciation thereon.

Amendment to the investment management agreement with AiiianceBernstein was executed January 30, 2004 which changed the investment mandate from the manager's International Value strategy to its International Styb Blnd strategy. The international Style Blend strategy is a targeted 50/50 combination of the manager's International Value and International Growth strategies and was selected to reduce the value bias of the qualified trusrs international equity portfolio.

NRC Decommissioning Funding Status Report Report Date March 31, 2005 Duke Power Company Catawba Nuclear Station 12.5% Ownership Unit #1 Catawba Unit I 1.The minimum decommissioning fund estimate, pursuant to 10 CFR 50.75 (b) and (c). $ 45,698,101

2. The amount accumulated at the end of the calendar year preceding the date of the report for ilems hIcluded hi 10 CFR 50.75 (b) and (c). (Atternatlvely, the total amount accumulated at the end of the calendar year preceding the date of the report can be reported here if the cover letter transmitting the report provides the total estimate and indicates what portion of that estimate Is Oualified Non Qualified for Items not included in 10 CFR 50.75 (b) and (c)). $ 20,760,571 $ 729,154
3. A schedule of the annual amounts remalirg to be collected; Year Quaifed Non Qualiied for Items hI 10 CFR 50.75 (b) and (c). (Alternatively, the annual 2005 $ 1,035,813 $ 88,621 amounts remaining to be collected can Include Items beyond those 2006 $ 1,035.813 S 88,621 required hI10 CFR 50.75 (b) and (c) I the cover letter 2007 $ 1,035,813 $ 88,821 transmitting the report provides a total cost estimate and 2008 $ 1,035,813 $ 88.621 Indicates what portion of that estimnate Is for Items that are not 2009 $ 1,035,813 $ 88,621 included In 10 CFR 50.75 (b) and (c). 2010 $ 1,035,813 S 88,621 2011 $ 1,035,813 $ 88,621 Annual amounts are based on the ikelihood that units will be 2012 $ 1,035,813 S 88,621 shut down five years prior to the license expiration date. 2013 $ 1,035,813 $ 88,621 2014 $ 1,035,813 $ 88,621 2015 $ 1.035,813 S 88.621 2018 $ 1.035,813 $ 88,621 2017 $ 1,035,813 $ 68,621 2018 S 1,035,813 $ 88,621 2019 S 1,035,813 $ 88,621 2020 $ 1.035,813 $ 88.621 2021 $ 1,035,813 $ 68,621 2022 $ 1,035,813 $ 88,621 2023 $ 1,035,813 $ 88,621 2024 $ 1,035,813 $ 88,621 2025 $ 1,035,813 $ 88,621 2026 S 1,035,813 $ 88,621 2027 $ 1,035,813 $ 88,621 2028 $ 1,035.813 S 88,621 2029 S 1,035,813 $ 88,621 2030 $ 1,035,813 $ 88,621 2031 $ 1,035.813 S 88,B21 2032 $ 1,035,813 S 88,621 2033 $ 1,035,813 S 88,621 2034 $ 1,035,813 $ 88,621 2035 S 1,035,813 S 88,621 2036 $ 1,035,813 $ 88,621 2037 S 1,035,813 S 88.821 2038 $ 1,035,813 $ 88,621
  • 2039$S - S -

2040 S -

2041S - S 2042 S S 2043 $ $

$ 35,217,633 $ 3,013.100

4. The assumptions used regarding escalation hi decommissioning hiflation - 4%

cost, rates of earnings on decommissioning funds, and rates of quatfied rate of return - 5%

other factors used in fundng projections; non-qualified rate of return -4.5%

5. Any contracts upon which the licensee Is relying pursuant to 10 CFR 50.75(e)(1)(v). NWA
6. Any modifications to a Icensee's current method providing financial assurance occurring since the lest submitted report. NIA
7. Any material changes to trust agreements.

Sixth Posteflectwe Amendment to the Duke Power Company Master Decommissioning Trust Agreement was executed April 27, 2004 allowing for the establishment of the General Nonquallfed Fund which consists of contributions by the company for Non-NRC decommissioning odany or at of the plants, plus earnigs and appreciation thereon.

Amendment to the investment management agreement with AllianceBernstein was executed January 30, 2004 which changed the Investment mandate from the managers International Value strategy to Its International Style Blend strategy. The International Style Blend strategy Is a targeted 5at50 combination of the manager's International Value and International Growth strategies and was setected to reduce the value bias of the qualified trust`s Intemational equity portfolio.

NRC Decommissioning Funding Status Report Report Date March 31, 2005 Duke Power Company Catawba Nuclear Station 12.5% Ownership Unit r2 Catawba UnIt 2

1. The minimum decommissioning fund estimate, pursuant to 10 CFR 50.75 (b) and (c). $ 45,698,101
2. The amount accumulated at the end of the calendar year preceding the date of the report for items Included In10 CFR 50.75(b) artd (c). (Aftematively, the total amount accumulated at the end of the calendar year preceding the date of the report can be reported here If the cover letter transmitting the report provides the total estimate and Indicates what portion of that estimate is Quarif Non Qualified for items not included In 10 CFR 50.75 lb) and (c)). $ 21,698,121 $ 599,462
3. A schedule of the arnual amounts remaining to be collected; Year Qualifled Non Ouasdifd for items in 10 CFR 50.75 ib) and (c). (Alternatively, the annual 2005 11,453,517 $

amounts remaining to be collected can include Items beyond those 2006 $ 1,453,517 $

required in 10 CFR 50.75 (b) and (c) If the cover letter 2007 $ 1,453,517 $

transmitting the report provides a total cost estirnate and 2006 $ 1,453,517 $

Indicates what portion of that estimate is for Items that are not 2009 $ 1,453,517 $

Included in 10 CFR 50.75 (b) and (c). 2010 $ 1,453,517 $

2011 $ 1,453,517 S Annual amounts are based on the ikelihood that units will be 2012 S 1,453,517 $

shut down five years prior to the icense expiration date. 2013 $ 1,453.517 $

2014 $ 1,453,517 $

2015 S 1,453,517 $

2016 $ 1,453,517 $

2017 $ 1,453.517 $

2018 $ 1.453,517 S 2019 S 1,453,517 $

2020 S 1,453,517 $

2021 $ 1,453,517 S 2022 S 1,453,517 $

2023 $ 1.453,517 $

2024 $ 1,453,517 $

2025 $ 1,453.517 $

2026 $ 1,453.517 S 2027 $ 1,453,517 $

2028 $ 1,453,517 $

2029 $ 1,453,517 $

2030 $ 1,453,517 $

2031 $ 1.453.517 $

2032 $ 1,453,517 $

2033 $ 1,453.517 S 2034 $ 1,453,517 S 2035 $ 1,453,517 $

2038 $ 1,453,517 $

2037 S 1,453,517 S 2038 $ 1,453,517 $

2039 $ - $

2040S - $

2041$ - $

2042$ - $

2043$ - S$

$ 49,419,572 $

4. The assumptions used regarding escalation Indecommissioning inflation - 4%

cost, rates of eamings on decommissioning funds, and rates of qualified rate of return - 5%

other factors used Infunding projections; non-qualified rate of return -4.5%

5. Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v). NUA
6. Any modifications to a iicensee's current method providing financial assurance occurring since the last submitted report. NIA
7. Any material changes to trust agreements.

Sixth Posteffective Amendment to the Duke Power Company Master Decommissioning Trust Agreement was executed April 27, 2004 allowing for the establishment of the General Nonqualifed Fund which consists of contributions by the company for Non-NRC decommissioning of any or all of the plants, plus earnings and appreciation thereon.

Amendment to the investment management agreement with AllianceBernstein was executed January 30, 2004 which changed the investment mandate from the managerls international Value strategy to Its International Style Blend strategy. The International Style Blend strategy is a targeted 50i50 combination of the manager's International Value and Intemational Growth strategles and was selected to reduce the value bias of the qualified trusts International equity portfolio.

NRC Decommissioning Funding Status Report Report Date March 31, 2005 Saluda River Electric Cooperative Catawba Nuclear Station 9.375% Ownership Unit #1

1. The minimum decommissioning fund estimate, pursuant to 10 CFR 50.75 (b) and (c). $ 34,273,575
2. The amount accumulated at the end of the calendar year preceding the date of the report for items included in 10 CFR 50.75 (b) and (c). (Alternatively, the total amount accumulated at the end of the calendar year preceding the date of the report can be reported here ifthe cover letter transmitting the report provides the total estimate and indicates what portion of that estimate is for items not included in 10 CFR 50.75 (b) and (c)). $ 27,228,988
3. A schedule of the annual amounts remaining to be collected; for items in 10 CFR 50.75 (b) and (c). (Alternatively, the annual amounts remaining to be collected can include items beyond those required in 10 CFR 50.75 (b) and (c) if the cover letter transmitting the report provides a total cost estimate and indicates what portion of that estimate is for items that are not included in 10 CFR 50.75 (b) and (c).

Year Amount 2005 $

2006 $

2007 $

2008 $

4. The assumptions used regarding escalation in decommissioning inflation - 4.5%

cost, rates of earnings on decommissioning funds, and rates of rate of return - 6.5%

other factors used in funding projections;

5. Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v). n/a
6. Any modifications to a licensee's current method providing financial assurance occurring since the last submitted report. n/a
7. Any material changes to trust agreements. n/a

NRC Decommissioning Funding Status Report Report Date March 31, 2005 Saluda River Electric Cooperative Catawba Nuclear Station 9.375% Ownership Unit #2

1. The minimum decommissioning fund estimate, pursuant to 10 CFR 50.75 (b) and (c). $ 34,273,575
2. The amount accumulated at the end of the calendar year preceding the date of the report for items included in 10 CFR 50.75 (b) and (c). (Alternatively, the total amount accumulated at the end of the calendar year preceding the date of the report can be reported here if the cover letter transmitting the report provides the total estimate and indicates what portion of that estimate is for items not included in 10 CFR 50.75 (b) and (c)). $ 26,809,238
3. A schedule of the annual amounts remaining to be collected; for items in 10 CFR 50.75 (b) and (c). (Altematively, the annual amounts remaining to be collected can include items beyond those required in 10 CFR 50.75 (b) and (c) if the cover letter transmitting the report provides a total cost estimate and indicates what portion of that estimate is for items that are not included in 10 CFR 50.75 (b) and (c).

Year Amount 2005 TV 2006 $

2007 TV 2008

4. The assumptions used regarding escalation in decommissioning inflation - 4.5%

cost, rates of earnings on decommissioning funds, and rates of rate of return - 6.5%

other factors used in funding projections;

5. Any contracts upon which the licensee is relying pursuant to 10 CFR 50.75(e)(1)(v). n/a
6. Any modifications to a licensee's current method providing financial assurance occurring since the last submitted report. n/a
7. Any material changes to trust agreements. n/a

NRC Decommissioning Funding Status Report Report Date March 31, 2005 North Carolina Municipal Electric Membership Corporation Catawba Nuclear Station 28.125% Ownership Unit #1

1. The minimum decommissioning fund estimate, pursuant to 10 CFR 50.75 (b) and (c). $ 102,820,725
2. The amount accumulated at the end of the calendar year preceding the date of the report for items included in 10 CFR 50.75 (b) and (c). (Alternatively, the total amount accumulated at the end of the calendar year preceding the date of the report can be reported here if the cover letter transmitting the report provides the total estimate and indicates what portion of that estimate is for items not included in 10 CFR 50.75 (b) and (c)). $ 37,830,558
3. A schedule of the annual amounts remaining to be collected; for items in 10 CFR 50.75 (b) and (c). (Alternatively, the annual amounts remaining to be collected can include items beyond those required in 10 CFR 50.75 (b) and (c) if the cover letter transmitting the report provides a total cost estimate and indicates what portion of that estimate is for items that are not included in 10 CFR 50.75 (b) and (c).

Year Amount 2005 $ 2,954,099 2006 $ 2,954,099 2007 $ 2,954,099 2008 $ 2,954,099 2009 $ 2,954,099 2010 $ 2,954,099 2011 $ 2,954,099 2012 $ 2,954,099 2013 $ 2,954,099 2014 $ 2,954,099 2015 $ 2,954,099 2016 $ 2,954,099 2017 $ 2,954,099 2018 $ 2,954,099 2019 $ 2,954,099 2020 $ 2,954,099 2021 $ 2,954,099 2022 $ 2,954,099 2023 $ 2,954,099 2024 $ 2,954,099 2025 $ 2,954,099 2026 $ 2,954,099 Total $ 64,990,178

4. The assumptions used regarding escalation in decommissioning inflation - 2.46 %

cost, rates of earnings on decommissioning funds, and rates of rate of return - 4.85 %

other factors used in funding projections;

5. Any contracts upon which the licensee is relying pursuant to NA 10 CFR 50.75(e)(1)(v).
6. Any modifications to a licensee's current method providing None financial assurance occurring since the last submitted report.

None

7. Any material changes to trust agreements.

NRC Decommissioning Funding Status Report Report Date March 31, 2005 North Carolina Municipal Electric Membership Corporation Catawba Nuclear Station 28.125% Ownership Unit #2

1. The minimum decommissioning fund estimate, pursuant to 10 CFR 50.75 (b) and (c). $ 102,820,725
2. The amount accumulated at the end of the calendar year preceding the date of the report for items included in 10 CFR 50.75 (b) and (c). (Altematively, the total amount accumulated at the end of the calendar year preceding the date of the report can be reported here If the cover letter transmitting the report provides the total estimate and indicates what portion of that estimate Is for Items not Included In 10 CFR 50.75 (b) and (c)). $ 37,830,558
3. A schedule of the annual amounts remaining to be collected; for Items In 10 CFR 50.75 (b) and (c). (Alternatively, the annual amounts remaining to be collected can include Items beyond those required In 10 CFR 50.75 (b) and (c) I the cover letter transmitting the report provides a total cost estimate and indicates what portion of that estimate Is for items that are not included In 10 CFR 50.75 (b) and (c).

Year Amount 2005 $ 2,954,099 2006 $ 2,954,099 2007 $ 2,954,099 2008 $ 2,954,099 2009 $ 2,954,099 2010 $ 2,954,099 2011 $ 2,954,099 2012 $ 2,954,099 2013 $ 2,954,099 2014 $ 2,954,099 2015 $ 2,954,099 2016 $ 2,954,099 2017 $ 2,954,099 2018 $ 2,954,099 2019 $ 2,954,099 2020 $ 2,954,099 2021 $ 2,954,099 2022 $ 2,954,099 2023 $ 2,954,099 2024 $ 2,954,099 2025 $ 2,954,099 2026 $ 2,954,099 Total $ 64,990,178

4. The assumptions used regarding escalation in decommissioning Inflation - 2.46 %

cost, rates of earnings on decommissioning funds, and rates of rate of return - 4.85 %

other factors used in funding projections;

5. Any contracts upon which the licensee is relying pursuant to NA 10 CFR 50.75(e)(1)(v).
6. Any modifications to a licensee's current method providing None financial assurance occurring since the last submitted report.

None

7. Any material changes to trust agreements.

NRC Decommissioning Funding Status Report Report Date March 31, 2005 North Carolina Municipal Power Agency 1 Catawba Nuclear Station 37.5% Ownership Unit #1

1. The minimum decommissioning fund estimate, pursuant to 10 CFR 50.75 (b) and (c). $ 137,166,750
2. The amount accumulated at the end of the calendar year preceding the date of the report for items Included in 10 CFR 50.75 (b) and (c). (Altematively, the total amount accumulated at the end of the calendar year preceding the date of the report can be reported here if the cover letter transmitting the report provides the total estimate and indicates what portion of that estimate Is for hems not included In 10 CFR 50.75 (b) and (c)). $ 81,262,254
3. A schedule of the annual amounts remaining to be collected; for items in 10 CFR 50.75 (b) and (c). (Altematively, the annual amounts remaining to be collected can include items beyond those required In 10 CFR 50.75 (b) and (c) If the cover letter transmitting the report provides a total cost estimate and Indicates what portion of that estimate Is for items that are not included In 10 CFR 50.75 (b) and (c).

Year Amount

  • 2032 is the last year of the current Participant 2005 $ 437,500 Project Power Sales Agreement. 2006 $ 437,500 2007 $ 437,500 2008 $ 437,500 2009 $ 437,500 2010 $ 437,500 2011 $ 437,500 2012 $ 437,500 2013 $ 437,500 2014 $ 437,500 2015 $ 437,500 2016 $ 437,500 2017 $ 437,500 2018 $ 437,500 2019 $ 437,500 2020 $ 437,500 2021 S 437,500 2022 $ 437,500 2023 $ 437,500 2024 $ 437,500 2025 $ 437,500 2026 $ 437,500 2027 $ 437,500 2028 $ 437.500 2029 $ 437,500 2030 $ 437,500 2031 $ 437,500 2032^ $ 437,500 Amount Remaining $12,250,000
  1. years to collect 28
4. The assumptions used regarding escalation in decommissioning escalation - 4.0 cost, rates of earnings on decommissioning funds, and rates of rate of return - 6.0 other factors used in funding projections;
5. Any contracts upon which the licensee is relying pursuant to N/A 10 CFR 50.75(e)(1)(v).
6. Any modifications to a licensee's current method providing NIA financial assurance occurring since the last submitted report.
7. Any material changes to trust agreements. N/A

NRC Decommissioning Funding Status Report Report Date March 31, 2005 North Carolina Municipal Power Agency 1 Catawba Nuclear Station 37.5% Ownership Unit #2

1. The minimum decommissioning fund estimate, pursuant to 10 CFR 50.75 (b) and (c). $ 137,166,750
2. The amount accumulated at the end of the calendar year preceding the date of the report for items Included in 10 CFR 50.75 (b) and (c). (Alternatively, the total amount accumulated at the end of the calendar year preceding the date of the report can be reported here if the cover letter transmitting the report provides the total estimate and Indicates what portion of that estimate Is for Items not included in 10 CFR 50.75 (b) and (c)). $ 77,905,665
3. A schedule of the annual amounts remaining to be collected; for items In 10 CFR 50.75 (b) and (c). (Alternatively, the annual amounts remaining to be collected can Include Items beyond those required in 10 CFR 50.75 (b) and (c) If the cover letter transmitting the report provides a total cost estimate and Indicates what portion of that estimate is for items that are not Included in 10 CFR 50.75 (b) and (c).

Year Amount

  • 2032 is the last year of the current Participant 2005 S 437,500 Project Power Sales Agreement. 2006 $ 437,500 2007 $ 437,500 2008 $ 437,500 2009 $ 437,500 2010 $ 437,500 2011 $ 437,500 2012 $ 437,500 2013 $ 437,500 2014 $ 437,500 2015 $ 437,500 2016 $ 437,500 2017 $ 437,500 2018 $ 437,500 2019 $ 437,500 2020 $ 437,500 2021 $ 437,500 2022 $ 437,500 2023 S 437,500 2024 $ 437,500 2025 $ 437,500 2026 $ 437,500 2027 $ 437,500 2028 $ 437,500 2029 $ 437,500 2030 $ 437,500 2031 $ 437,500 2032- $ 437,500 Amount Remaining $12,250,000
  1. years to collect 28
4. The assumptions used regarding escalation in decommissioning escalation - 4.0 cost, rates of earnings on decommissioning funds, and rates of rate of return - 6.0 other factors used in funding projections;
5. Any contracts upon which the licensee is relying pursuant to N/A 10 CFR 50.75(e)(1)(v).
6. Any modifications to a licensee's current method providing N/A financial assurance occurring since the last submitted report.
7. Any material changes to trust agreements. NIA

NRC Decommissioning Funding Status Report Report Date March 31, 2005 Piedmont Municipal Power Agency Catawba Nuclear Station 12.5% Ownership Unit #1

1. The minimum decommissioning fund estimate, pursuant to 10 CFR 50.75 (b) and (c). $ 45,698,101 2 The amount accumulated at the end of the calendar year preceding the date of the report for hems included in 10 CFR 50.75 (b) and (c). (Alternatively, the total amount accumulated at the end of the calendar year preceding the date of the report can be reported here i the cover letter transmitting the report provides the total estimate and indicates what portion of that estimate Is for hems not Included in 10 CFR 50.75 (b) and (c)). $ 20,787,867
3. A schedule of the annual amounts remaining to be collected; for items In 10 CFR 50.75 (b) and (c). (Altematively, the annual amounts remaining to be collected can include items beyond those required in 10 CFR 50.75 (b) and (c) If the cover letter transmitting the report provides a total cost estimate and indicates what portion of that estimate Is for items that are not included in 10 CFR 50.75 (b) and (c).

Amount 2005 $ 48,669 2006 $ 48,669 2007 $ 48,669 2008 $ 48,669 2009 $ 48,669 2010 $ 48,669 2011 $ 48,669 2012 $ 48,669 2013 $ 48,669 2014 $ 48,669 2015 $ 48,669 2016 $ 48,669 2017 $ 48,669 2018 $ 48,669 2019 $ 48,669 2020 $ 48,669 2021 S 48,669 2022 $ 48,669 2023 $ 48,669 2024 $ 48,669 2025 $ 48,669 2026 $ 48,669 2027 $ 48,669 2028 $ 48,669 2029 $ 48,669 2030 $ 48,669 2031 $ 48,669 2032 $ 9,064,455 2033 $ 48,669 2034 $ 5,851,829 2035 $ 48,669

4. The assumptions used regarding escalation in decommissioning inflation - 4.5 cost, rates of earnings on decommissioning funds, and rates of rate of return - 6.5 other factors used in funding projections;
5. Any contracts upon which the licensee is relying pursuant to N/A 10 CFR 50.75(e)(1)(v).
6. Any modifications to a licensee's current method providing N/A financial assurance occurring since the last submitted report.
7. Any material changes to trust agreements. NIA

'I NRC Decommissioning Funding Status Report Report Date March 31, 2005 Piedmont Municipal Power Agency Catawba Nuclear Station 12.5% Ownership Unit #2

1. The minimum decommissioning fund estimate, pursuant to 10 CFR 50.75 (b) and (c). $ 45,698,101
2. The amount accumulated at the end of the calendar year preceding the date of the report for items included in 10 CFR 50.75 (b) and (c). (Altematively, the total amount accumulated at the end of the calendar year preceding the date of the report can be reported here if the cover letter transmitting the report provides the total estimate and Indicates what portion of that estimate Is for items not Included in 10 CFR 50.75 (b) and (c)). $ 20,590,426
3. A schedule of the annual amounts remaining to be collected; for items in 10 CFR 50.75 (b) and (c). (Alternatively, the annual amounts remaining to be collected can include items beyond those required In 10 CFR 50.75 (b) and (c) if the cover letter transmitting the report provides a total cost estimate and indicates what portion of that estimate is for items that are not Included In 10 CFR 50.75 (b) and (c).

Year Amount 2005 $ 63,186 2006 $ 63,186 2007 $ 63,186 2008 $ 63,186 2009 $ 63,186 2010 $ 63,186 2011 $ 63,186 2012 $ 63,186 2013 $ 63,186 2014 $ 63,186 2015 $ 63,186 2016 $ 63,186 2017 $ 63,186 2018 $ 63,186 2019 $ 63,186 2020 $ 63,186 2021 $ 63,186 2022 $ 63,186 2023 $ 63,186 2024 $ 63,186 2025 $ 63,186 2026 $ 63,186 2027 $ 63,186 2028 $ 63,186 2029 $ 63,186 2030 $ 63,186 2031 $ 63,186 2032 $ 9,078,972 2033 $ 63,186 2034 $ 5,866,346 2035 $ 63,186

4. The assumptions used regarding escalation in decommissioning inflation - 4.5 cost, rates of earnings on decommissioning funds, and rates of rate of return - 6.5 other factors used in funding projections;
5. Any contracts upon which the licensee is relying pursuant to N/A 10 CFR 50.75(e)(1)(v).
6. Any modifications to a licensee's current method providing NIA financial assurance occuning since the last submitted report.
7. Any material changes to trust agreements. N/A
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