ML021840767

Consumers Energy, Statement of Internal Cash Flow for Twelve Months Ended November 30, 2001 & Projected for Twelve Ended November 30, 2002, as Evidence of Guarantee of Payment of Deferred Premiums in Connection with Palisades Nuclear Plant

ML021840767
Person / Time
Site:	Palisades
Issue date:	01/14/2002
From:	Dapra D Consumers Energy
To:	Dinitz I Office of Nuclear Reactor Regulation
References
Download: ML021840767 (3)

Text

A CMS Energy Company 212 West MichiganAvenue Tel: 517 788 0135 Jackson, MI 49201-2277 Fax: 517 788 7290 DennisDaPra Senior Vice President Accounting and Regulatory Affairs January 14, 2002 U. S. Nuclear Regulatory Commission Attn: Mr. Ira P. Dinitz Senior Specialist Mail Stop 12E4 Washington, DC 20555 PALISADES NUCLEAR PLANT DOCKET NO. 50-255 In accordance with Section 140.21 of 10 CFR Part 140 of the Commission's Regulations and Regulatory Guide 9.4, enclosed are, as evidence of guarantee of payment of deferred premiums in connection with the above-named nuclear power plant, two copies of a statement of internal cash flow for the twelve months ended November 30, 2001 and projected for the twelve months ended November 30, 2002.

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Consumers Energy Company Internal Cash Flow Twelve Months Ended November 2001 and 2002 (In Millions)

Palisades Nuclear Plant 2001 Actual 2002 Projected Net Income/(loss) After Taxes 118

• 222 Dividend - Preferred (2) (2)

Common (247) (176)

Change in Retained Eamings (131)- 44 Adjustments:

Change in Working Capital 13 13 Depreciation and Amortization 332 346 Deferred Income Taxes and Investment Tax Credit 61 8 MCV Capacity Issues and Accretion 146 * (16)

Undistributed Subsidiary Earnings, Net of Dividends (48) (13)

AFUDC (6) (20)

Total Adjustments 498 318 IntemaJ Cash Flow 367 362 Average- Quarterly Cash Flow 92 91 Percentage Ownership in Palisades Nuclear Plant 100%

Maximum Total Contingent Liability: $10 Million

• Includes $126 million non-cash loss on MCV purchases Dennis DaPra Senior Vice President Accounting and Regulatory Affairs January 11, 2002

Consumers Energy Company Internal Cash Flow Twelve Months Ended November 2001 and 2002 (In Millions)

Palisades Nuclear Plant 2001 Actual 2002 Projected Net Income/(loss) After Taxes 118

• 222 Dividend - Preferred (2) (2)

Common (247) (176)

Change in Retain-ed-Eamings . .. .-.. .~~~~

.-1. . . . 44 Adjustments:

Change in Working Capital 13 13 Depreciation and Amortization 332 346 Deferred Income Taxes and Investment Tax Credit 61 8 MCV Capacity Issues and Accretion 146 * (16)

Undistributed Subsidiary Earnings, Net of Dividends (48) (13)

AFUDC (6) (20)

Total Adjustments 498 318 Internal Cash Flow 367 362 Average Quarterly Cash Flow 92 91 Percentage Ownership in Palisades Nuclear Plant 100%

Maximum Total Contingent Liability: $10 Million

_ *-Includes$126 mfflionr non-cash loss on MCV purchases Dennis DaPra Senior Vice President Accounting and Regulatory Affairs

)

January 11, 2002