ML20217K473

Summary of 980423 Meeting W/Great Bay Power Corp Re Great Bay Power Corp Response to Request for Addl Re Decommissioning Funding Assurance

ML20217K473
Person / Time
Site:	Seabrook
Issue date:	04/29/1998
From:	Casey Smith NRC (Affiliation Not Assigned)
To:	NRC (Affiliation Not Assigned)
References
TAC-MA0851, TAC-MA851, NUDOCS 9805010228
Download: ML20217K473 (5)

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April'29, 1998 LICENSEE: Great Bay Power Corporation ,

FACILITY: Seabrook Station, Unit No.1

SUMMARY

OF MEETING ON . APRIL 23,1998 REGARDING  ;

DECOMMISSIONING FUNDING ASSURANCE (TAC NO. MA0851) ]

j- On April 23,1998, NRC staff from DRPE, DRPM, and OGC met with representatives from j Great Bay Power Corporation (Great Bay) to discuss Great Bay's response to a request for l additional information (RAI) concerning decommissioning funding assurance.

Great Bay is the holder of a 12.1% ownership interest in Seabrook Station, Unit 1. In a l previous ruling, the NRC staff determined that Great Bay does not meet the definition of

" electric utility" as provided in 10 CFR 50.2, and as such must meet the requirements of 10 CFR 50.75(e)(2) for assurance of decommissioning funding obligations. On July 23,1997, Great Bay was granted a 1-year exemption from the requirements of 10 CFR 50.75(e)(2) to  !

allow additional time to obtain an acceptable method of providing financial assurance for l decommissioning as required by the regulations. On January 30,1998, Great Bay submitted to the NRC a petition for a determination that acceleration of decommissioning trust fund payments would provide reasonable assurance of decommissioning funding. In response to this petition, on February 25,1998, the NRC staff requested that Great Bay provide additional l information for the staff to better understand the financial analysis used by Great Bay to arrive  !

I at the conclusions as stated in its January 30,1998 submittal. Great Bay provided a written i response to the RAI on March 31,1998.

At the April 23,1998, meeting Great Bay responded to questions by the staff conceming the projected cash flow, balance sheet, and income statements covering tho next 5 years of I operation submitted in response to the RAl. The information provided showed a comparison of the financial projections using both the current and proposed accelerated payment schedules to l the decommissioning trust fund, in addition, Great Bay discussed the decommissioning funding assurance legislation pending before the New Hampshire state legislature. The legislation, referred to as Senate Bill 140, would make the joint owners of Seabrook Station proportional -

l guarantors of Great Bay's decommissioning obligation in the event of a default of payment. f-

! The legislation was passed by the Senate on February 12,1998 and by the House on April 23, 1998. Signature by the governor is expected, however Great Bay can not predict the exact /

date the bill will be enacted into law.

I ORIGINAL SIGNED BY Craig W. Smith, Project Manager Project Directorate 1-3 h

Division of Reactor Projects -l/II Office of Nuclear Reactor Regulation Docket No. 50-443 --

Enclosure:

List of Attendees y cc w/ encl: See ne.xt page DOCUMENT NAME: G:\ SMITH \mtgsum.498 h k k h h % %f To receive a copy of this document, indicate in the box: "C" - Copy without attachment /enclospre "E" - Copy with attachment / enclosure "N" - No copy OfflCE PDI 3/PM /// l PDI-3/LA sf W) lR PDI 3/D , l l NAME CSmith C ^ TClark < AT L CThomas PM DATE 04/ T 9 /96 04/ A 4 /98 04/ 77 /98 OfflCIAL RECORD COPY 9605010228 990429 PDR ADOCK 05000443 P PDR

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North Atlantic Energy Service Corporation Seabrook Station, Unit No.1 cc:

Lillian M. Cuoco, Esq. Mr. Dan McElhinney Senior Nuclear Counsel Federal Emergency Management Agency Northeast Utilities Service Company Region i P.O. Box 270 J.W. McCormack P.O. &

Hartford, CT 06141-0270 Courthouse Building, Room 401 Boston, MA 02109 Mr. Peter Brann Assistant Attomey General Mr. Peter LaPorte, Director State House, Station #6 ATTN: James Muckerheide Augusta, ME 04333 Massachusetts Emergency Management Agency Resident inspector 400 Worcester Road U.S. Nuclear Regulatory Commission P.O. Box 1496 Seabrook Nuclear Power Station Framingham, MA 01701-0317 P.O. Box 1149 Seabrook, NH 03874 Jeffrey Howard, Attomey General G. Dana Bisbee, Deputy Attomey

, Jane Spector General Federal Energy Regulatory Commission 33 Capitol Street 825 North Capital Street, N.E. Concord, NH 03301 Room 8105 Washington, DC 20426 Mr. Woodbury Fogg, Director New Hampshire Office of Emergency Town of Exeter Management 10 Front Street State Office Park South Exeter, NH 03823 107 Pleasant Street Concord, NH 03301 Mr. George L. Iverson, Director New Hampshire Office of Emergency Mr. Roy E. Hickok Management Nuclear Training Manager State Office Park South Seabrook Station 107 Pleasant Street North Atlantic Energy Service Corp.

Concord, NH 03301 P.O. Box 300 Seabrook, NH 03874 Regional Administrator, Region i U.S. Nuclear Regulatory Commission Mr. Terry L. Harpster 475 Allendale Road Director of Licensing Services King of Prussia, PA 19406 Seabrook Station North Atlantic Energy Service Corp.

Office of the Attomey General P.O. Box 300 One Ashburton Place Seabrook, NH 03874 20th Floor Boston, MA 02108 Mr. D. M. Goebel Vice President-Nuclear Oversight Board of Selectmen Northeast Utilities Service Company Town of Amesbury P.O. Box 270 Town Hall Hartford, CT 06141-0270 Amesbury, MA 01913

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I l Mr. W. A. DiProfio I. Station Director Seabrook Station North Atlantic Energy Service Corporation P.O. Box 300 Seabrook, NH 03874 l Mr. Frank W. Getman, Jr.

l Great Bay Power Corporation Cocheco Falls Millworks 100 Main Street, Suite 201 Dover, NH 03820 l Mr. B. D. Kenyon President - Nuclear Group l Northeast Utilities Service Group l P.O. Box 128 Waterford, CT 06385

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Mr. Ted C. Feigenbaum Executive Vice President and Chief Nuclear Officer Seabrook Station North Atlantic Energy Service Corporation c/o Terry L. Harpster P.O. Box 300 Seabrook, NH 03874 Mr. David E. Carriere l Director, Production Services Canal Electric Company 2421 Cranberry Highway Wareham, MA 02571 l

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i List of Attendees Meeting with Great Bay Power Corporation April 23,1998

Name Organization Craig Smith NRC/NRR Anthony Callendrello NAESCO Terry Harpster NAESCO Frank Getman Great Bay Gerry Charnoff Shaw Pittman Paul Gaukler Shaw Pittman Cecil Thomas NRC/NRR Robert Wood NRC/NRR Steve Hom NRC/OGC l

Jean Liaw Winston & Strawn Bonnie Williamson Nucleonics Week Steve L>wis NRC/OGC i

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/ (( S Distnbutton E: Mail S. Collins /F. Miraglia (SJC1/FJM)

B. Boger(RPZ)

J. Zwolinski(JAZ)

C. Smith (CXS1)

T. Clark (TLC 1)

T. Martin (e-mail SLM3)

OPA (OPA)

R. Wood (RSW1)

S. Hom (SRH)

- S. Lewis (SHL)

C. Hehl(CWH)

B. McCabe (BCM)

D. Screnci(BCM)

Hard Conv Docket File PUBLIC PDl-3 r/f OGC ACRS E.