ML12214A254

Guarantee of Payment of Deferred Premiums for the Period of July 1, 2012 to June 30, 2013

ML12214A254
Person / Time
Site:	Fort Calhoun
Issue date:	07/31/2012
From:	Baughn S E Omaha Public Power District
To:	Office of Nuclear Reactor Regulation, Document Control Desk
References
LIC-12-0111
Download: ML12214A254 (3)

Text

July 31, U. S. Nuclear Regulatory Attn: Document Control Washington, DC Docket No. 50-285 Guarantee of Payment of Deferred Premiums for the Period of July 1, 2012 to June 30,2013 The Omaha Public Power District (OPPD) is providing the attached, "2012/2013 Statement of Cash Flow from Operations," as its guarantee of payment of deferred prerniums for the period of July 1, 2012 to June 30, 2013. The Statement provides evidence that OPPD maintains a guarantee of payment of deferred premiums in the amount of $17.5 miUion for Fort Calhoun Station, Unit No.1 in compliance with 10 CFR 140.21 . The cash flow statement deviates slight 1 ly from the format of NRC Regulatory Guide (RG) 9.4 because OPPD is a political subdivision of the State of Nebraska.

However, the pertinent information identified in RG 9.4 is provided. A copy of Bond Resolution 1788, which established the payment pr , iorities I'isted on the cash flow statement, was filed with our 1979 guarantee report. No commitments are made to the NRC in this letter. If you should have any questions, please contact Mr. Bill Hansher at (402) 533-6894.

Sincerely, S. E. Manager-Nuclear SEB/brh Attachment c: E. E. Collins Jr., NRC Regional Administrator, Region IV L. E. Wilkins, I NRC Project Manager J. C. Kirkland, NRC Senior Resident Inspector Empl o vm e nt w ith Equ a l Opportullitv Attachment LIC-12-0111

Page 1 OMAHA PUBLIC POWER DISTRICT 2012/2013 Statement of Cash Flow From Operations (a) (Dollars in Thousands) Actual Projected 12 Months 12 Months ended 5/12 ended 6/13 Operating Revenues $1,050,158$1,094,525 Debt Retirement Transfer $34,000$4,000 Interest Receipts (b) $875$850 Total Cash Receipts $1,085,033$1,099,375 Less: Operating Expenses (c) $835,007$806,154 Payments in Lieu of Taxes (c) $28,218$32,184 Funds Available for Debt Service $221,808$261,037 Less: Debt Service Payments (d) $100,146$115,359 Funds Available for Other Valid Corporate Purposes (e) $121,662$145,678 Average Quarterly Cash Flow $30,416$36,420

Percentage Ownership - Fort Calhoun Power Station Unit No. 1 - 100%

Attachment LIC-12-0111

Page 2 Notes: (a) The format of this cash flow statement is in accordance with the payment priorities as established by Bond Resolution 1788. The payment priority scheduled for funds realized from operations is as follows:

First Priority: Operations and maintenance expenses and payments in lieu of taxes.

Second Priority: Debt service (principal and interest) on all outstanding bonds.

Third Priority: All other valid corporate purposes. These purposes would include construction, nuclear fuel, working capital, and any other use of the funds to provide for an ongoing utility business. The payment of any funds for the NRC guarantee would fall into the third priority.

(b) Interest collections have been normalized to reflect only the types of interest collections from normal ongoing funds and do not reflect any interest collections made from special construction funds.

(c) Operating and maintenance expenses and payments in lieu of taxes have first priority on use of funds derived from operating revenues.

(d) Debt service payments have second priority on the use of funds derived from operating revenues.

(e) These funds represent the internal cash flow available for all other corporate purposes and have third priority on funds derived from operating revenues.

(f) Cash flow is based on projected re-start of the Fort Calhoun Station Unit No. 1 and may be further evaluated based on actual start-up date.

Supplementary General Statements:

The following statements are offered to explain some of the District's policies as they relate to its financial management:

The District maintains a working fund balance of approximately 100-days of cash on hand in addition to special construction and restricted funds in order to take advantage of potential opportunities and manage risks.

As an all-public power state, Nebraska does not have a state commission with electric rate jurisdiction.

The District's Board of Directors is empowered to establish electric rates.