ML18096B403
| ML18096B403 | |
| Person / Time | |
|---|---|
| Site: | Saint Lucie  |
| Issue date: | 12/31/1970 |
| From: | Florida Power & Light Co |
| To: | US Atomic Energy Commission (AEC) |
| References | |
| Download: ML18096B403 (26) | |
Text
EXHIBIT II.
Index 350 0
FLORIDA POMfEB & LIGHT COMPANY SUPPLEMENT TO ANNUAL REPORT FOR 1970 300 250 200 150 TOTAL ELECTRIC SALES Kilowatt Hours 10-Year Growth Trend/Index: 1960 =100 CII I
O 100
This booklet has been prepared primarily for the information of security analysts and institutional investors and is available to other interested persons.
It is not intended for use in connection with any sale, or offer for sale, or solicitation of an offer to buy any securities.
iiAnA FLORIDA POWER 4 LIGHTCOMPANY P.o. BOX 3 I00, MIAMI,FLORIDA 33101
F I.
0 R
I D
A P
0 W
E R
at L-I G
H T
C 0
M P
A N
Y The Company was organized and incorporated under the laws of Florida in December, 1925 and supplies electric service to 560 communities.
The territory served lies wholly within peninsular Florida. It includes the Cape Kennedy area, famous Atlantic and Gulf Coast winter and summer tourist areas, thc State's largest and most rapidly developing manufacturing ccntcr, and areas having extensive develop-ments of citrus, bccf and dairy cattle and winter vegctablcs.
This booklet provides comparative figures for the 6-year period, 1965-70 reflecting the continued sound and rapid growth of the Company's business.
All financial statements shown should be considered in conjunction with notes in the Company's annual reports.
INDEX Page Balance Sheet.
Summary of Net Change in Plant.
Statement of Income Common Stock Earnings and Dividends.
Resources Provided and Applied Financial Statistics.
Operating Statistics.
Generating and Distribution Statistics.
Capitalization Data Generating Capability Chart Inside Back Cover
FLORIDA POWER IL LIGHT COMPANY BALANCE SHEET (YEAR END)
(Thousands of Dollars)
ASSETS 1970 1969 1968 1967 1966 1965 Plant at original cost In service Held for futur'e use.
Construction work in progress...
Total plant.
Less accumulated dcprcciation.....
Total plantnet.
Storm damage reserve fund........
Other investments.
Current assets Cash and cash items.
Receivables, less reserve.
Fuel stock....................
Materials and suppliesnet.....
Other current assets.
Total current assets.
Dcferrcd debits.
Total assets.
$ 1,402,214 18,852 242,221 1,663>287 297,225 I>366,062 11,712 434 10,685 26,239 3,390 34,334 4,960 79,608 235
$ 1,458,051
$ 1,268,966 12,701 148,256 1,429,923 266,393 1,163,530 11,268 475 26,767 24,267 3,352 29,914 3,875 88,175 625
$ 1,264,073
$ 1,143,489 9,629 135,523 1,288,641 234,704 1,053,937 10,899 549
$ 1,040,429 5,533 77,224 1,123,186 209,518 913,668 10,591
~
633 14,339 21,472 2,873 25,375 2,664 7,946 16,501 3,113 25,573 2,555 55,688 66,723 316 369
$ 1,132,424 S
980,949 938,031 4,274 58,748 1,001,053 187,927 813,126 10,305 1,356 32,598 15,929 2,557 19,752 2 223 73,059 685 898,531
$860,206 3,389 37,938 901,533 166,878 734,655 9,518 2,114 17,252 15,389 2,583.
23,383 1,931 60,538 844
$807,669 LIABILITIES Long-term debt.
Preferred stock.
Common stock.
Capital stock premium and expcnsc...
Retained earnings.
Total common equity.
Total proprietary capital.........
Total capitalization Customers'eposits.
Current liabilities Notes payable Taxes accrued.
Other current liabilities.
Total current liabilities..........
Dcfcrred investmcnt credit.
Other dcfcrrcd credits Contract retentions.
Storm damage and other reserves.....
Contributions in aid ofconstruction...
Deferred income taxes.
Total liabilities.
S 670,519 S
600,926 S
551,459 S
442,260 382,802 36,250 299,242 (2,105) 200,774 36,250 299,242 (2,039) 172,800 36,250 255,283 (2,039) 147,537 36,250 255,283 (2,039) 125,128 36,250 255,283 (2,033) 103,024 497,911 534,161 1,204,680 470,003 506,253 1,107,179 400,781 437,031 988,490 378,372 414,622 356,274 392,524 8>6,8>2 77>,326 35,037 32 233 29,750 27 733 26,034 71,600 26,456 50,227 24,125 34,704 21,101 33,608 19,785 27,457 148,283 58,829 54,709 47,242 16,864 4,602 8,505 13,452 10,113 12,296 17,160 5,332 8,742 13>522 12,941 l2,354 14,480 5,819 5,071 13,199 7,687 13,219 11,694 3,852 I
12,935 6,468 14,143 29,868 20,869 50,737 9,303 3,570 12,753 5,742 15,066 898,531
$ 1,458,051
$ 1,264,073
$ 1,132,424 S
980,949
$343,389 36,250 234,202 (2,008) 78,372 310,566 346,816 690,205 24,381 30,841 17,803 48,644 7,279 3,122 12,626 5,423 15,989
$807,669
SUMMARY
OF NET CHANGE IN PLANT Construction cxpcnditurcs.
Equipment refunds and adjustments...
Total cxpcnditurcs.
Less plant rctircd or sold Net change in plant.
S 250,345 250,345 16,981 S
233,364 S
149,245 (48) 149,197 7,915 141,282 S
133,117 S
176,258 (43) 176,215 10,760 133,117 10,984 S
165,455 S
122,133 109,614 (295) 109,319 9,799 99,520 S 88,351 (6,344) 82,007 22,449 S 59,558 Pago 2
FLORIDA POWER
&, LIGHT COMPANY STATEMENT OF INCOME (Thousands of Dollars)
OPERATING REVENUES ELECTRIC Revenues from energy sales.
Other revcnucs.
Total operating rcvcnucs.............
1970
$414,295 1,757
.. 5416,052 1969
$367,794 1,716 369.510 1968
$323,159 1.450 324,618 1967
$284,044 1,282 285,326 1966
$267,577 1,095 268,672 1965
$247,973 1,118 249,091 OPERATING EXPENSES Generation Fueloil.
Fuel gas.
Other expenses.
Total generation.
Interchange powernet.
Transmission.
Distribution.
Customer accounting.
Sales promotion.
Administrative and general............
Total operation and maintenance..
Taxes other than income Federal income tax Deferred income taxesAcccl. amortization.
Dcfcrrcd income taxesAccel. dcprcciation.
Charge equivalent to investment credit.....
Amortization of invcstmcnt credit.........
Depreciation and amortization.............
Total operating expenses..............
44,508 42,249 14,535 101,292 (I,G94) 6,051 41,641 10,547 7,664 32,938 198,439 35,26G 42,203 (1,272) 1,331 1,056 (761) 42,327 318,589 35,111 37,797 10,923 83,831 (1,051) 5,208 33,236 9,133 7,613 25,744 163,714 31,365 49,386 (923) 3,024 (640) 38,247 284,173 37,405 26,380 9,928 73,713 (49) 4,034 26,411 7,456 5,775 21,660 139,000 28,269 46,639 (923) 3,294 (508) 34,562 250,333 39,662 14,618 10,136 64,416
~
18 3,476 22;782 7,319 5,222 19,756 122,989 27,097 35,713 (923) 2,787 (396) 31,331 218,598 36,623 13,724 8,057 58,404 182 3,342 21,254 7,153 4,772 18,348 113,455 22,505 39,348 (923) 2 327 (303) 28,598 205,007 32,581 12,219 7,390 52,190 (139) 2,787 20,024 6,701 4,687 17,178 103,428 19,823 37,892 (923) 3,243 (177) 30,935 194,221 OPERATING INCOME....
Other income and deductions..................
INCOME BEFORE INTEREST CHARGES.....
Interest charges.
NET INCOME.
Prel'erred dividends.
EARNINGS AVAILABLEFOR COMMON...
Common dividends RETAINED EARNINGS.
97,4G3 139 97,602 38,375 59,227 1,615 57,612 29,638
$ 27,974 85,337 613 85,950 32,523 53,427 1,615 51,812 26,549
$ 25,263 74,276 (90) 74,186 25,276 48,910 1,615 47,295 24,881
$ 22,414 66,728 (68) 66,660 19,728 46,932 1,615 45,317 23,213
$ 22,104 63,665 (93) 63,572 16,275 47,297 1,615 45,682 21,080
$ 24,602 54,870 (244) 54,626 14,039 40,587 1,615 38,972 19,448
$ 19,524 COMMON STOCK Shares year cnd (000)
Shares weighted average (000).............
Earnings per share wcightcd average (000)..
Dividends paid per sharc Per cent payout.
14,600 14,600
$3.95
$2.03 51.4 14,600 13,938
$3.72
$ 1.91 51.2 13,900 13,900
$3.40
$ 1.79 52.6 13,900 13,900
$3.26
$ 1.67 51.2 13,900 13,625
$3.35
$ 1.55 46.1 13,600 13,600
$2.87
$ 1.43 49.9 Pago,3
FLORIDA POWER a LIGHT COMPANY STATEMENT OF RESOURCES PROVIDED AND APPLIED (Thousands of Dollars)
PROVIDED 1970 1969 1968 1967 Total 1966 1966-70 Retained earnings.
Charges against income not requiring current cash outlay:
.. $ 27,974 S 25,263
$ 22,414 S 22,104 S 24,602
$ 122,357 Depreciation and other rcscrvcs..
44,008 Defcrrcd fcdcral income taxesAccel. amortization,...
(1,272) 39,520 (923) 35,798 (923) 32,390 (923) 29,513 (923) 181,229 (4,964)
Dcfcrrcd fcdcral income taxes-Accel. dcprcciation Dcfcrrcd invcstmcnt credit-nct.....
Customers'eposits.
Contributions in aid of construction...
1,331 295 2,804 2,828 2,384 2,483 2,426 2,78G 2,017 1,219 2,391 1,699 726 1,331 1,653 319 10,656 7,518 2,024
',880 Net salvage Manufacturers'rice adjustmcnt.
Other rcsourccs.
Financing Common stock.
3>42 I I >714 34 2,020 43,960 (51) 43 G,256 1,431 1>121 295 1,547 21,081 4,636 338 12,968 65,041 Mortgage bonds.
Decrease in working capital.
Total resources provided.
70,071 98,022
.. $251,196 50,265
$ 167,432 111,376 60,140 40,184 332,036 13,876 111,898 S180,935
$ 133,945
$ 121,41G S 854,924
'Due largely to $7I.G million incrcasc in short-term notes payable which were liquidated upon consummation of Bond Sale in January, 1971.
APPLIED Construction cxpcnditurcs.
Sinking fund requirements.
407 533 801 542 587 2,870
$250,345
$ 149,245
$ 176,258
$ 133,117
$ 109,614
$818,579 Storm fund income and tax adjustments..
444 369 308 286 787 2,194 Increase in working capital.
Total rcsourccs applied...
$251,196 17,285
$ 167,432 3,568
$ 180,935
$ 133,945 10,428 31,281
$ 121,416
$854,924 Page 4
il,g
~
FLORIDA POWER & LIGHT COMPANY FINANCIALSTATISTICS CAPITALIZATIONPERCENTAGES Debt.
Preferred stock Common stock equity.
1970 1969 54.3 3.0 3.3 41.3 424 1968 55.8 3.7 40.5 1967 SI.G 4.2 44.2 196G 1965 49.4 49.8 4.7 5.2 45.9 45.0 PERCENTAGE OF DEBT TO:
Total plant.
Net plant.
,. 40.3 42.0 42.8
.. 49.1 51.6 52.3 39.4 48.4 38.2 47.1 38.1 4G.7 PERCENTAGE OF ACCRUED DEPRECIATION TO:
Total plant.
17.9 18.G 18.2 18.7 18.8 18.5 DISTRIBUTION OF OPERATING REVENUES (%)
Taxes.
Fuel.
Operating payroll and benefits.
Depreciation and amortization.
Supplies and other expenses.
Interest and other deductions.
Dividends.................................
~ ~.
~
~
~
~
Retained in business
,. 18.9 22.4 23.8 20.8 19.8 19.7 17.2 16.2 IS.3 10.0 10.2 10.5 9.6 8.4 7.8 9.3 8.6 7.8 7.5 7.6 8.2 6.7 6.8 6.9 22.7 19.0 15.8 10.8 8.3 6.9 8.7 7.8 23.5 18.7 15.5 10.5 8.0 6.1 8.5 9.2 24.1 18.0 15.0 12.4 8.5 5.7 8.5 7.8 DISTRIBUTION OF INCOME BEFORE INTEREST (%)
Interest charges.
Preferred dividends.
Available for common.
INCOME BEFORE INTEREST (times earned)
Interest on mortgage bonds.
Interest on total long-term debt.
Interest charges.
Interest charges and preferred dividends.
39.3 37.8 1.7 1.9 59.0 60.3 2.8 2.8 2.8 2.8 2.5 2.6 2.4 2.5 34.1 2.2 63.7 3.2 3.2 2.9 2.8 29.6 2.4 68.0 4.0 3.9 3.4 3.1 25.6 2.5 71.9 4.5 4.4 3.9 3.6 25.7 3.0 71.3 4.6 4.5 3.9 3.5 PERCENTAGE OF OPERATING REVENUES Income before interest.
Net income Available for common.
AVERAGE COST LONG TERM DEBT (%)
.. 23.5 23.3 14,2 14.5
.. 13.8 14.0 5.51 5.28 22.9 23.4 15.1 16.4 14.6 15.9 4.88 4.39 23.7 21.9 17.G 16.3 17.0 15.6 4.19 4.09 Page 5
FLORIDA POWER 8E LIGHT COMPANY OPERATING STATISTICS KWH GENERATEDINTERCHANGED (000) 1970 Generated net.
~
~
~
~
~ 25,394,200 Interchanged net..........
(281,477)
Company usc and losses 1,997,342 Energy sold.
23,115,381 1969 1968 1967 196G 1965 19,354,531 16,640,181
'(7,183) 235 1,596,031 1,350,996 22,363,866 (145,802) 1,772,892 IS,026,735 29,333 1,320,186 13,387,104 (14,941) 1,283,974 20,445,172 17,751,317 15,289,420 13,735,882 12,088,189 KWH SALES (000)
Residential..
Commercial.
Industrial.
Government and municipal..
Other utilities.
Total sales.
6,495,328 4,176,799 1,867,558 874,717 321,480 10,277,902 5,689,152 1,813,880 2,015,657 648,581 7,211,301 4,677,840 2,025,476 994,289 380.514 8,640,243 5,252,163 2,216,921 1,135,277 506,713 11,814,172 6,475,639 2,044,013
~
~
1,995,258 786,299 5,539,803 3,793,056 1,719,306 783,591 252,433 23,115,381 20,445,172 17,751,317 15,289,420 13,735,882 12,088,189 KWH SALES (%)
Residential.
Commercial Industrial.
Governmental and municipal...
Other utilitics.
Total..
51.1 28.0 8.9 8.6 3.4 100.0 50.3 27.8 8.9 9.8 3.2 100.0 48.7 29.6 12.5 6.4 2.8 100.0 47.2 30.6 13.2 6.5 2.5 100.0 47.3 30.4 13.G 6.4 23 100.0 45.8 31.4 14.2 6.5 2.1 100.0 REVENUE FROM ENERGY SALES (000)
Residential.
Commercial Industrial.
Govcrnmcntal and municipal................
Other utilitie's.
Total revcnucs from cncrgy sales.........
$223,330 129,028 26,555 28,581 6,801 S414,295
$ 196,009 114,566 23,786 27,912 5,521
$367,794
$ 168,330 104,592 26,583 19,326 4,328
$323,159 S144,501 94,458 24,522 17,300 3,263
$284,044
$ 132,983 90,129 25,326
- 16,353 2,786
$267,577
$ 116,433 90,334 23,675 15,290 2,241 S247,973 REVENUE FROM ENERGY SALES (%)
Residential.
Commercial.....
Industrial.
Government and municipal................
Other utilitics.
Total..
53.9 31.1 6.4 6.9 1.7 100.0 53.3 31.1 6.5 7.6 1.5 100.0 52.1 32.4 8.2 6.0 1.3 100.0 50.9 33.3 8.6 6.1 I.I 100.0 49.7 33.7 9.5 6.1 1.0 100.0 47.0 36.4 9.5 6.2
.9 100.0 CUSTOMERS (Average)
Rcsidcnt ial.
Commercial.
Industrial.
Government and municipal."..
Other utilities.
Total.
1,115,070 121,353 5,055 11,616 30 1,045,744 115,712 4,924 10,938 29 1,253,124 1,177,347 985,706 108,343 4,G70 10,473 28 1,109,220 934,843 101,782 4,454 10,230 25 1,051,334 887,896 98,327 4,3GI 9,412 24 1,000,020 841,604 94,929 4,321 8,715 22 949,591 RESIDENTIAL SERVICE Annual KWH per customer...........
Annual revenue per customer..........
Average rcvenuc pcr KWH 10,595 S200.28 1.89c 9,828
$ 187.43 1.9lc 8,766
$ 170.77 1.95c 7,714
$ 154.57 2.00c 7,315 6,582
$ 149.77
$ 138.35 2.05c 2.10c Page 6
ITLOIttOA POWER 8, LIGHT COMPANY GENERATING STATISTICS GROSS CAPABILITYKW (year end)
Fort Lauderdale Riviera.
Miami.
Cutler.
Sanford.
Palatka.
Ft. Mycrs.
Port Evcrgladcs.
Cape Kennedy.
Turkey Point.
Total.
1970 770,000 737,000 5 I FOOO 371,000 165,000 128,000 597,000
. 1,350,500 864,000 877,500 5,911,000 1969 330,000 737,000 51,000 371,000 165,000 128,000 597,000 1,350,500 864,000 8~77 500 5,471,000 1968 330,000 737,000 51,000 371,000 165,000 128,000 165,000 1,337,000 432,000 864,000 4,580,000 1967 330,000 737,000 51,000 371,000 165,000 128,000 165,000 1,337,000 432,000 432,000 4,148,000 1966 330,000 737,000 51,000 371,000 165,000 128,000 165,000 1,337,000 432,000 3,716,000 1965 330,000 737,000 51,000 371,000 165,000 128,000 165,000 1,337,000 432,000 3,716,000 PEAK DEMANDKW (60 minute net)....
5 001 000 4,329,000 3,789,000 3,160,000 2,914,000 2,529,000 LOAD FACTOR LAD mieule) 57 59 58 60 59 FUEL Barrels oil used (000).
Cost per barrel.
MCF gas used (000).
Cost per MCF.
Total barrels equivalent used (000)...
Avcragc cost pcr barrel equivalent...
Fuel cost per million BTU.
22,762
$ 1.96 115,870
$0.365 40,318
$2.15 33.6c 18,687
$ 1.88 108,634
$0.348 35,147
$2.07 32.2c 18,731
$2.00 77,370
$0.341 30,454
$2.09 32.7c 19,522
$2.03 43,909
$0.333 26,174
$2.07 32.5c 17,687
$2.07 40,475
$0.339 23,820
$2.11 33.2c 15,744
$2.07 35,438
$0.345 21,113
$2.12 33.3c KWH PER BARREL EQUIVALENT..
630 636 636 636 631 634 HEAT RATE (BTU per KWH)..
10,128 10,112 10,081 10 025 10,096 10,041 MILES OF ELECTRIC LINES Transmission..
Distribution.
Total.
3,255 25,155 28,410 3 223 24,050 27273 3,204 22,915 26,119 3,115 21,998 25,113 2,912 21,248 24,160 2,700 20,553 23,253 CUSTOMERS PER MILE DISTRIBUTION (end of year).
52 51 50 49 48 48 Page 7
FLORIDA POWER a LIGHT COMPANY CAPITALIZATIONDATA (YEAR END)
(Thousands of Dollars)
LONG-TERM DEBT Mortgage bonds 3YR% series due January 1974....
8Ys% series due July 1975 3% series due July 1977.
3Ys% series due June 1978.
3% series due June 1979.
3Ys% series due November 1981..
3Ys% series due April 1983.
3Ys% series due November 1984..
3Ys% series duc April 1986.
4 Vs% series due December 1986...
4Ys% scrics duc May 1987 4Ys% series duc April 1988.
5% series due June 1989 4Ys% series due August 1992 4N% series due April 1994.
4Ys% series due March 1995......
5% series duc December 1995.....
6% series due December 1996.....
6V4% scrics due December 1997...
I% series due June 1998 7% series due December 1998.....
8% series duc Junc 1999..
Total mortgage bonds Sinking fund debcnturcs 3Y4%series due July 1972 Total long-term debt.
PREFERRED STOCK 48%;including series A, 8, C)..
4.32% series D.
4 35% series E Total preferred stock COMMON STOCK EQUITY Common stock Capital stock premium and expense-Prcmium on prcfcrred stock Preferred stock expense (deduction)..........
Common stock cxpensc (deduction)..........
Total capital stock premium and expense...
Retained earnings Total common stock equity...............
Total proprietary capital 1970
$36,894 70,000 10,000 11,000 10,000 10,000 15,000 10,000 15,000 15,000 15,000 20,000 25,000 25,000 35,000 40,000 40,000 40,000 60,000 60,000 50,000 50,000 662,894 7,625 670,519 26,250 5,000 5,000 36,250 299,242 118 (442)
(1,781)
(2,105) 200,774 497,911 534,161 1969
$37,301 10,000 11,000 10,000 10,000 15,000 10,000 15,000 15,000 15,000 20,000 25,000 25,000 35,000 40,000 40,000 40,000 60,000 60,000 50,000 50,000 593,301 7,625 600;926 26,250 5,000 5,000 36,250 299,242 118 (442)
(1,715)
(2,039) 172,800 470,003 506,253 TOTAL CAPITALIZATION
$ 1,204,680
$ 1,107,179 page S
FLORIDA POWER 8 LIGHT COMPANY GENERATING CAPABILITY 1961 - 1975 (Location Undetermined) 850 MW Hutchinson Island No. 1 890 NW (Nuclear)
Port Manatee No. 1 850 MW Sanford No. 5 419 MW Sanford No. 4 419 MW Turkey Point No. 4 760 MW (Nuclear)
Turkey Point No. 3 760 MW (Nuclear)
Gas Turbines 444 MW YEAR-END CAPABILITY (MEGAWATTS) 11,307 10,457 8,717 8,298 7,119 5,911
'>Y
(',471
.,j@4
- ghee,
)(@
gpV@
gj<kqR 44+4:
j~~jb,:
~;:p'(g(p<
p?Pg~,R gg>?@
m'4('(.':".~(
,"<<.'(K:N
- g&($x<<
i"~jj5.
<(AS('+'<%(
, ?(qz
.>g(."<~4>'<m>N+(( j>
>(;.>p9g>($(
pgam5$
(@>0'.,
$i,g~",
- >(p',(@::(
(<<(gkmg C("g'V'(
>'p~j%
<<>:( (<<>>
,g;;N(jt);:
.',(Ngj(:
,ji'jig(%g!l (Igj!.'-iji@'I<gk:::,::.
g'ed@'rr;:
le!(?)l,'g~y4:S~k4 k'.K?k".<<
v?
'(';re.', A?g<
NIgN
- 'ibad'44.:)p)i~@:.,:,:<$ (~>~5:.<>~K@
~jib>(<<g;..:j:pj~jyc craig<<~4>P jjVjN (<>t$k~ ';:
<<0..<>K >(,,>Q.?.,. >>.<<.,3'.
@AN<'.g$(
5A> CN Q4P 4x ~
j4$
Q7@
4,580 4,148 3,716 2,963 2 698 2,398 2,128 C(>
M
~
LO CC>
(<<OO C>>
(C>
(C>
CC>
(C>
(C>
(C>
(C>
C>>
C>>
C>>
C>>
~
C>>
C>>
C>>
CT>
C(>
C>>
C>>
C>>
C>>
At FPL, we add more electric customers each year than any other utilityin the nation. To stay ahead of our state's tremendous growth, we'e currently engaged in a $ 1.9 billion expansion program.
We must nearly double our present generating capacity by 1975.
During this growth process, we'e taking care to protect Florida's natural environment. That's because we consider our job to be twofold: to serve the community while protecting the environment and its natural beauty.
%pal
EXHIBIT IV.
Page 8
Combustions'hattanooga Plant includes a separate facility which is equipped and staffed to design and fabricate, and to provide quality control for large reactor pressure components.
The facility has such special equipment as heavy duty cranes and large capacity machine tools capable of performing work on large, heavy parts to close tolerances and fine surface finishes.
It is also equipped with the latest testing and quality control equipment, including a linear accelerator for weld examination.
Combustion's UtilityDivision nuclear activities are centered in three locations:
The Nuclear Power Department at Windsor, Connecticut; the Naval Reactors Division at Windsor, Connecticut; and the Nuclear Components Department at Chattanooga, Tennessee.
EXHIBIT III.
FLORIDA POWER 6 LIGHT COMPANY HUTCHINSON ISLAND UNIT NO.
2 Estimate of Construction Costs I.
Total Nuclear Production Plant Costs
$ 220,400,000 (Note 1)
II.
Transmission, Distribution, and General Plant Costs 4,600,000 (Note 2)
III.
Nuclear Fuel Inventory Cost for First Core 23)931,000 (Note 3)
(Note 1)
The nuclear production plant cost is based on (1) a contract with Combustion Engineering and estimated escalation, (2) a contract with Ebasco providing a firm price for engineer-ing and home office services, (3) engineering estimates of labor, materials, and construction costs including escalation, (4) Applicant's estimated costs for engineering, consulting
- services, training, startup, and sales tax, and (5) a firm price contract with Westinghouse Electric Corporation for a turbine-generator.
In accordance with Applicant's established policy, the cost of land is excluded.
(Note 2)
Of those costs which are classified as "Transmission",
"Distribution", and "General Plant" costs by the Uniform System of Accounts of the National Association of Railroad and Public Utility Commissioners, only those associated with the plant switchyard are allocated to the power plant project and are herewith set forth.
(Note 3)
Nuclear fuel inventory costs for first core are based on a contract with Combustion Engineering for the supply of a complete core including uranium, enrichment and fabrication, at a firm price except for enrichment escalation.
No special nuclear material leased from the Atomic Energy Commission will be utilized in the plant.
C
EXHIBIT IV.
FLORIDA POWER & LIGHT COMPANY HUTCHINSON ISLAND UNIT NO.
2 Technical ualifications of Contractors EBASCO SERVICES INCORPORATED Ebasco Services Incorporated furnishes services in engineering and construction of thermal, both conventional and nuclear, and hydroelectric projects in the United States and throughout the world.
The company's present technical staff totals more than 2,000 persons engaged in all phases of public utility engineering,
- design, construction purchasing, inspection and expediting of material and consultation on utility operating matters.
The company has available and is able to bring to bear on any given project a broad range of engineering, construction and consult-ing experience.
Since its organization in 1905 Ebasco has planned,
- designed, constructed and placed into operation more that 41,500,000 kilowatts of electric generating capacity.
Presently in process of design or construction are 58 thermal electric and hydroelectric units totaling 22,500,000 kilowatts including 5,000,000 kilowatts of nuclear capacity.
Of these, 35 units are in the United States.
The total dollar value of projects constructed or being constructed by Ebasco exceeds
$ 8 billion.
Ebasco's nuclear experience includes engineering
- studies, the evaluation of reactor
- systems, selection of the nuclear sites, hazards evaluations, detailed engineering
- design, construction and startup and testing of nuclear power facilities as described below:
a.
Louisiana Power
& Light Co. - Waterford Steam Electric Station Units Nos.
3 & 4 Ebasco is providing engineering and construction management services for a two-unit plant of 1100 Mwe each using Combustion Engineering, Inc. nuclear steam supply system.
b.
Taiwan Power Company - Chin-Shan Units Nos.
1 & 2 Ebasco is responsible for the engineering design and construction supervision for Chin-Shan Units Nos.
1
c
EXHIBIT IV.
Page 2
& 2.
General Electric A.P.E.D. is supplying the BWR nuclear steam supply system.
Unit output is rated at 636 Mwe.
Unit No.
1 is scheduled for commercial operation in February 1975 and Unit No.
2 is scheduled for operation in March 1976.
c ~
Public Service Company of Colorado - Ft. St, Vrain Plant Ebasco is engaged by Gulf General Atomic Incorporated to construct a 330 Mwe nuclear power plant utilizing a high temperature gas-cooled reactor (HTGR).
The plant will be owned and operated by the Public Service Company of Colorado.
Construction began in March 1968 with commercial operation previously scheduled for March 1971.
This station will be the first HTGR in the United States with a prestressed concrete reactor vessel.
d.
Vermont Yankee Nuclear Power Corporation - Vermont Yankee Plant Ebasco is engaged as Agent of the Vermont Yankee Nuclear Power Corporation for the engineering and construction of a 540 Mwe nuclear power plant using a General Electric Company boiling water nuclear steam supply system.
The nuclear plant will be owned and operated by the Yankee group of 11 investor-owned electric utility companies.
e.
Carolina Power
& Light Company - H. B. Robinson No.
2 Ebasco is working with Westinghouse Electric Corpora-tion, the prime contractor, in the design engineering and construction of a 670 Mwe nuclear power plant.
Using a Westinghouse pressurized water nuclear steam supply system, the plant will be owned and operated by the Carolina Power
& Light Company.
Millstone Point Company - Northeast Utilities Millstone Unit No.
1 Ebasco is a subcontractor to GE, the prime contractor, performing the design engineering and construction of the 650 Mwe Millstone Nuclear Power Plant, Using a GE boiling water nuclear steam supply system the plant will be located at Millstone Point, Connecticut.
The
EXHIBIT IV.
Page 3
plant will be owned and operated by the Millstone Point Company which is comprised of The Connecticut Light and Power
- Company, The Hartford Electric Light
- Company, and Western Massachusetts Electric Company.
Centrales Nucleares del Norte - Nuclenor (Spain)
Ebasco is a subcontractor to GE, the prime contractor, in the design engineering and construction management of a 440 Mwe nuclear power plant.
The plant, using a
General Electric boiling water nuclear steam supply system, will be located at Santa Maria de Garona on the Ebro River in Spain.
It will be owned and operated by Centrales Nucleares del Norte, S A (Nuclenor),
comprised of the investor-owned electric utilities, Iberduero and Viesgo.
Japan Atomic Power Company - Tsuruga Ebasco is a subcontractor to GE for design engineering and inspection of construction of the 350 Mwe Tsuruga Nuclear Power Plant.
The plant, using a
GE boiling water nuclear steam supply system, will be located on the Tsuruga Peninsula in Japan and will be owned by The Japan Atomic Power Company.
Tokyo Electric Power Company - Fukushima No.
1 and No.
2 Ebasco is a subcontractor to GE, providing design engineering and inspection of construction of the 440 Mwe Unit No.
1 and has initiated work on the 780 Mwe Unit No.
2 of the Fukushima Nuclear Electric Station.
This station will be owned and operated by The Tokyo Electric Power
- Company, Inc.
Advanced Test Reactor Ebasco has prime contract responsibility for the engineering, design and the engineering inspection of construction of the Advanced Test Reactor Project.
This project is being built for the Atomic Energy Commission at the National Reactor Testing Station in Idaho.
This is a 250 Mwt test reactor facility containing a total of nine test loops, "hot cells" and other supporting services and installations.
The basic design and construction are now complete and criticality was attained on July 2, 1967.
I'
EXHIBIT IV.
Page 4
k.
Power Burst Facility Ebasco has responsibility for engineering, design and inspection of the Power Burst Facility being constructed for the U. S. Atomic Energy Commission at the National Reactor Testing Station in Idaho.
The reactor will have the capability of generating power bursts as high as 3000 Mw-second with initial asymptotic periods as short as one millisecond.
Completion of the PBF was scheduled for October 15, 1969.
1.
SENN Nuclear Plant Ebasco performed engineering design and construction management for the 150 Mwe (upgraded to 180 Mwe) nuclear power plant for the Societa Elettronucleare Nazionale (SENN) in Italy.
Engineering and construc-tion are now complete.
The plant is operating satisfactorily.
m.
JPDR Nuclear Plant The scope of Ebasco's design and construction work on this project (the Japan Power Demonstration Reactor
-- JPDR) was similar in nature to that described for the SENN project.
Criticality was attained in June 1963 and the first commercial power delivered to the system the first quarter 1964.
COMBUSTION ENGINEERING INCORPORATED Combustion's nuclear power activities are of three general types:
- design, development, construction and operation of reactor systems; design and fabrication of nuclear components; and support of design, development and analytical projects.
A summary of the company's principal efforts and accomplish-ments in the light water cooled and moderated reactor field is provided on the following pages.
a.
Naval Propulsion System During the period 1955 through 1960, Combustion was a major contributor to the U. S. Naval Reactors program.
The company designed and built, at its
EXHIBIT IV.
Page 5
Windsor, Connecticut site, the prototype of a small attack submarine power plant.
This prototype (SIC) went into operation in 1959 and has been operated by Combustion as a naval training facility.
A second plant of this type was also designed and built by Combustion for installation in the SSN Tullibee which has been operated as a part of the United States nuclear submarine fleet for ten years.
In the design, development, construction and operation of the proto-type syst: em and the submarine power plant, Combustion's responsibilities included all safety aspects of the reactor systems.
Boiling Nuclear Superheat (BONUS) Plant Combustion has been responsible for the nuclear design and for the direction of startup and initial operation of the BONUS plant in Puerto Rico.
The BONUS plant achieved full power operation in September 1965 and was the first nuclear power plant in the United States operating with an integral superheating core.
Consumers Power Company - Palisades Plant Early in 1966, Combustion was awarded a contract to design and provide components for an 800 Mwe Nuclear Steam Supply System and fabricate its initial fuel loading.
Site construction has started.
Commercial operation was planned 'for May 1970.
Omaha Public Power District Fort Calhoun Station In October
- 1966, Combustion was awarded a contract to furnish a 475 Mwe Nuclear Steam Supply System>
a matching turbine generator and fuel for three cores.
Commercial operation of this plant is scheduled for May 1971.
Maine Yankee Atomic Power Company In early 1967, Combustion was awarded a contract to furnish an 800 Mwe Nuclear Steam Supply System, and fuel for two cores.
Commercial operation of the plant is scheduled for early 1972.
V 4
II S
P
EXHIBIT IV.
Page 6
f.
Baltimore Gas
& Electric Company - Calvert Cliffs Units 1
& 2 In May 1967, Combustion was awarded a contract to furnish two 850 Mwe Nuclear Steam Supply Systems and fuel for 3-1/3 cores.
Commercial operation of Unit 1
is, scheduled for June 1972.
Unit 2 is scheduled for operation in June 1973.
g.
Northeast Utilities Services
- Millstone Unit No.
2 In December
- 1967, Combustion was awarded a contract to furnish an 850 Mwe Nuclear Steam Supply System and fuel for two (2) cores.
Commercial operation is scheduled for April 1974.
h.
Jersey Central Power
& Light - Forked River No.
2 In December 1969 Combustion Engineering was awarded a contract to furnish 1130 Mwe Nuclear Steam Supply System and fuel for two (2) cores.
Commercial operation is scheduled for February 1976.
Southern California Edison - San Onofre Units Nos.
2 & 3 In February 1970 Combustion was awarded a contract to furnish two 1180 Mwe Nuclear Steam Supply Systems and initial fuel loads.
Commercial operation for Unit No.
1 is scheduled for June 1975.
Unit No.
2 is scheduled for operation in June 1976.
j.
Arkansas Power
& Light - Arkansas Nuclear One - Unit 2 In May 1970 Combustion was awarded a contract to furnish a 950 Mwe Nuclear Steam Supply System and initial fuel.
Commercial operation is scheduled for December 1975.
k.
Louisiana Power
&, Light - Waterford Unit No.
3 In July 1970 Combustion was awarded a contract to furnish 1150 Mwe Nuclear Steam Supply System and initial fuel.
Commercial operation is scheduled for December 1976.
EXHIBIT IV.
Page 7
The development and design by Combustion of a pressurized water reactor for utility service dates back to 1958.
At that time, the company was selected by the AEC to undertake the design, analysis and economic evaluation of a 250 Mwe PWR plant, in conjunction with an architect-engineer.
This effort provided initial technical and economic guidelines for Combustion's commercial development of the PWR.
Combustion's nuclear laboratories have been engaged in the development and testing of fuels, fuel elements, control assem-blies, reactor components and materials for reactor application.
Particular emphasis has been given to U02 and Zircaloy cladding technology, involving both in-pile and out-of-pile investigations.
The initial efforts in the laboratories were associated with submarine reactor programs.
Since 1960, the personnel of the nuclear laboratories have actively participated in the joint United States AEC - Euratom research and development program for fuels development.
In addition to these
- programs, personnel in the nuclear laboratories have been responsible for materials design activities for the HWOCR study and for pressurized
- water, boiling water, nuclear superheat, and fast breeder reactor systems.
During the period 1955 - 1961)
Combustion was a major supplier of nuclear cores for naval propulsion service.
The company has fabricated the boiling and the superheating fuel for the BONUS reactor.
The boiling section of this core is made up of Zircaloy-clad'od type UO fuel elements fundamentally similar to those being utilized iE this plant.
The superheater fuel utilizes Inconel-clad rod type U02 fuel elements.
The superheater cladding is designed for an operating temperature of 1250 F.
Combustion has fabricated and shipped many reactor vessels for utility plant service and for naval service.
Additional vessels for plant sizes up through 850 Mwe are now in process for future service.
The company has been fabricating nuclear steam generators for naval service for approximately ten years.
In addition, the company designed and fabricated the ten steam generators in the Hanford New Production Reactor facility.
The P. F. Avery Company, a subsidiary of Combustion, is a highly experienced organization with the facilities for manufacturing all reactor vessel internal structures.
The Windsor facilities of Combustion are equipped to fabricate and provide the necessary quality control for the fabrication of fuel assemblies, control assemblies, control assembly drive mechanisms, and other specialized nuclear components.