ML19092A293

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Decommissioning Funding Status Report
ML19092A293
Person / Time
Site: Millstone Dominion icon.png
Issue date: 03/26/2019
From: Gerald Bichof
Dominion Energy Nuclear Connecticut
To:
Document Control Desk, Office of Nuclear Reactor Regulation
References
19-048
Download: ML19092A293 (6)
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Text

{{#Wiki_filter:Dominion Energy Nuclear Connecticut, Inc. 5000 Dominion Boulevard, _Glen Allen, VA 23060 \r Dominion Energy.com March 26, 2019 United States Nuclear Regulatory Commission Serial No. 19-048 Attention: Document Control Desk NRA/TJS Rev. 0 Washington, D. C. 20555-0001 Docket No. 50-245 License No. DPR-21 DOMINION ENERGY NUCLEAR CONNECTICUT, INC. MILLSTONE POWER STATION UNIT 1 DECOMMISSIONING FUNDING STATUS REPORT Pursuant to 10 CFR 50.75(f)(1) and 10 CFR 50.82(a)(8)(v)-(vii), Dominion Energy Nuclear Connecticut, Inc. (DENC), is providing this report on the status

  • of decommissioning funding for Millstone Power Station Unit 1 (MPS1).

Attachment 1 proviqes the following information for MPS1: Table I - Decommissioning Funding Status Re.port for MPS1 Summary Information as of December 31, 2018 

    . Table II~ Decommissioning Funding Status Report for MPS1
  • Annual Cash Flow Analysis Starting January 1, 2019 through End of Decommissioning The following information is provided in support and as part of this filing:
1. The escalation of decommissioning costs from the Cost Study's 2014 dollars to 2018 dollars is 1.61 % and is based upon the average of CPI-U rates, Bureau of Labor Statistics, FCPIU.US CPI: Consumer Price Index for All Urban Consumers, (Index 1982-84= 100, SA) for that period.
2. The escalation rate of decommissioning costs, shown in Table II is 0% based on assuming a 2% Real Rate of Return.
3. The growth rate on Trust Funds is the allowed 2% Real Rate of Return over the escalation rate.
4. No rate regulatory authority citation for MPS1 is referenced because MPS1 is a merchant unit.
5. There are no contracts upon which DENC is relying under paragraph 10 CFR
50. 75(e)(1 )(v) and there were no modifications to the current method of providing financial assurance since the last submitted report.
6. There are no annual funding amounts for MPS1.
7. Trust Fund balances shown in this report are market value and after-tax on realized gains and losses. The Trust Fund balances have not been adjusted for unrealized gain or loss positions that are not currently taxable.
8. Since the previous annual submittal on March 21, 2018 (Serial No. 18-090, ADAMS Accession No. ML18092A080) for MPS1 there have been no material changes to the Trust agreements established for nuclear decommissioning.
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Serial No. 19-048 MPS1 Decommissioning Funding Status Report Page 2 of 2 -.- Please contact Mr. Craig D. Sly at (804) 273-2784 if you have any questions or require additional information. Sincerely, i.~rfZ--!J Senior Vice President- Nuclear Operations & Fleet Performance Dominion Energy Nuclear Connecticut, Inc.

Attachment:

1. Decommissioning Funding Status Report for MPS1, Summary Information as of December 31, 2018 Commitments made in this letter: None cc: U. S. Nuclear Regulatory Commission Region I 2100 Renaissance Blvd, Suite 100 King of Prussia, PA 19406-2713 Mr. T. H. Carter NRC Senior Project Manager (MPS1)

U. S. Nuclear Regulatory Commission Two White Flint North Mail Stop T-8 F5 11545 Rockville Pike Rockville, MD 20852-2738

Serial No. 19-048 Docket No.50-245 Attachment 1 Decommissioning Funding Status Report for MPS1 Summary Information as of December 31, 2018 Millstone Power Station - Unit 1 Dominion Energy Nuclear Connecticut, Inc. (DENC)

Serial No. 19-048 Docket No.50-245 Attachment 1 Page 1 of 3 ',1 Millstone Power Station Unit 1 Decommissioning Funding Status Report as of December 31, 2018 Table I Decommissioning Funding Status Report for MPS1 Summary Information as of December 31, 2018 10 CFR 50.82 {a)(8)(v)-{vii) (in millions) Decommissionina Trust Fund Balances 10 CFR Reference l50.S2(a)(8)(v)(A) l50.82(a)(8)(vii)(A) Fund Balance Tvoe of Trusts Comments 

    $       508.838 Unit 1 aualified fund balance                                       As of:                    12/31/2018
    $           -     Unit 1 non-aualified fund balance                                 As of:                    12/31/2018
    $          4.228 Less costs incurred but not vet billed to Trust                    Actual Cost in:              2018           Dollars
    $       504.610 Adiusted decommissionina fund balance                               As of:                    12/31/2018 Other Financial Assurance Methods Being Relied Upon                                 10 CFR Reference     l50.82(a)(B)(v)(A)   I None Prior Years Decommissioning Expenditures                                             10 CFR Reference l50.82(a)(B)(v)(A)       I Total           License Term        Spent Fuel Mamt       Site Restoration                               Comments
    $          4.228 $               0.320 $              3.908   $               -     2018 Cost in:                 2018          Dollars
    $        90.980 $             48.296 $              42.684    $               -     2001-2017 Cost in:         As-Spent         Dollars
    $        95.208 $             48.616 $              46.592    $               -     Total Prior Year in:       As-Spent         Dollars Prior Year Decommissioning Expenditures Variance to           Estimated Cost         10 CFR Reference     l50.82(a){B)(v)(B)   I Total           License Term        Soent Fuel Mamt       Site Restoration                               Comments
    $          4.228 $                  - $                  -    $               -     Actual Costin                 2018          Dollars
    $          5.137 $                  - $                  -    $               -     NRC Auth $ in                 2018          Dollars
    $         /0.909) $                 -    $               -    $               -

Variance: Underrun to NRC Authorized Expenditures Remaining Decommissioning Estimated Cost 10 CFR Reference l50.82(a)(8)(v)(B) l50.82(a)(B)(vii)(B) Total License Term Soent Fuel Mamt Site Restoration Comments 

    $       394.764 $            301.206 $              71.163    $          22.395 Estimate in:                      2019          Dollars Decommissioning Criteria Upon Which the Estimate is Based                           10 CFR Reference     l50.82(a)(8)(v)(B)   I SAFSTOR Any Modification To Method of Providing Financial Assurance                         10 CFR Reference     l50.82(a)(B)(v)(C)   I None Any Material Changes To Trust Agreement Since Previous Report                       10 CFR Reference     l50.82(a)(B)(v)(D)   I None Need For Additional Financial Assurance                                             10 CFR Reference     l50.82(a)(B)(vi)     l50.S2(a)(8)(vii)(C)

None See Annual Cash Flow Analysis in Table II Inputs to Remaining Cost and Funding Analysis I I 2019 Start year of Remaininq Cost and Fundinq analysis 1.61% Escalate study dollars from Study Year to Start Year of Analvsis usina an averaae of CPI rates 0.00% Escalation rate 2019 & Bevond 2.00% Fund qrowth rate 2019 & Beyond (Reflects NRC allowed 2% Real Rate of Return) Projected annual expenditures - see Annual Cash Flow Analysis in Table II Notes: Table I

1) Previous decommissioning expenditures represent the withdrawals from the nuclear decommissioning trusts made by Dominion Energy Nuclear Connecticut, Inc. These expenditures do not include the withdrawals made by the former owners of MPS1.
2) Expenditures include withdrawals for spent fuel management, consistent with DENC's previous notices to the NRC, as well as allowed ordinary administrative costs.
3) 2018 NRC Authorized expenditures of $5.137 million are based on $5 million (rounded) in 2017 dollars as described in DENC's submittal dated August 22, 2017 (Serial No. 18-289, ADAMS Accession No. ML17240A170).

Serial No. 19-048 Docket No.50-245 Attachment 1 Page 2 of 3 Millstone Power Station Unit 1 ... Decommissioning Funding Status Report as of December 31, 2018 Table II Decommissioning Funding Status Report for MPS1 Annual Cash Flow Analysis Starting January 1, 2019 through End of Decommissioning 

                                                                    . 10 CFR 50.82 (a)(8)(v)-(vii)

(In millions) Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Beginning Earnings Remaining Remaining Remaining Remaining End of on License Termination Spent Fuel Mgmt Site Restoration SAFSTOR of Year Trust Funds Expenditures Expenditures Expenditures Expenditures Year Year Balance (Reflects 2% RRoR) (Reflects 0% Esc) (Reflects 0% Esc) (Reflects 0% Esc) (Reflects 0% Esc) Balance 2019 $ 504.610 $ 10.045 $ 1.123 $ 3.609 $ - $ 4.732 $ 509.923 2020 $ 509.923 $ 10.151 $ 1.123 $ 3.609 $ - $ 4.732 $ 515.342 2021 $ 515.342 $ 10.263 $ 1.650 $ 2.756 $ - $ 4.406 $ 521.199 2022 $ 521.199 $ 10.382 $ 1.650 $ 2.516 $ - $ 4.166 $ 527.415 2023 $ 527.415 $ 10.507 $ 1.650 $ 2.516 $ - $ 4.166 $ 533.755 2024 $ 533.755 $ 10.633 $ 1.650 $ 2.516 $ - $ 4.166 $ 540.222 2025 $ 540.222 $ 10.703 $ 7.242 $ 2.916 $ - $ 10.158 $ 540.767 2026 $ 540.767 $ 10.771 $ 1.650 $ 2.756 $ - $ 4.406 $ 547.132 2027 $ 547.132 $ 10.898 $ 1.650 $ 2.789 $ - $ 4.439 $ 553.592 2028 $ 553.592 $ 11.010 $ 1.650 $ 4.568 $ - $ 6.218 $ 558.384 2029 $ 558.384 $ 11.108 $ 1.650 $ 4.276 $ - $ 5.926 $ 563.566 2030 $ 563.566 $ 11.230 $ 1.650 $ 2.516 $ - $ 4.166 $ 570.630 2031 $ 570.630 $ 11.369 $ 1.650 $ 2.756 $ - $ 4.406 $ 577.592 2032 $ 577.592 $ 11.510 $ 1.650 $ 2.516 $ - $ 4.166 $ 584.936 2033 $ 584.936 $ 11.657 $ 1.650 $ 2.516 $ - $ 4.166 $ 592.426 2034 $ 592.426 $ 11.807 $ 1.650 $ 2.516 $ - $ 4.166 $ 600.067 2035 $ 600.067 $ 11.953 $ 2.316 $ 2.516 $ - $ 4.832 $ 607.188 2036 $ 607.188 $ 12.100 $ 1.650 $ 2.756 $ - $ 4.406 $ 614.881 2037 $ 614.881 $ 12.256 $ 1.650 $ 2.516 $ - $ 4.166 $ 622.971 2038 $ 622.971 $ 12.418 $ 1.650 $ 2.516 $ - $ 4.166 $ 631.222 2039 $ 631.222 $ 12.583 $ 1.650 $ 2.516 $ - $ 4.166 $ 639.638 2040 $ 639.638 $ 12.751 $ 1.650 $ 2.516 $ - $ 4.166 $ 648.223 2041 $ 648.223 $ 12.923 $ 1.650 $ 2.516 $ - $ 4.166 $ 656.979 2042 $ 656.979 $ 13.098 $ 1.650 $ 2.516 $ - $ 4.166 $ 665.911 2043 $ 665.911 $ 13.264 $ 2.911 $ 2.516 $ - $ 5.428 $ 673.747 2044 $ 673.747 $ 13.356 $ 11.313 $ 0.627 $ - $ 11.940 $ 675.163 2045 $ 675.163 $ 13.462 $ 4.137 $ - $ - $ 4.137 $ 684.487 2046 $ 684.487 $ 13.675 $ 1.500 $ - $ - $ 1.500 $ 696.662 2047 $ 696.662 $ 13.918 $ 1.500 $ - $ - $ 1.500 $ 709.080 2048 $ 709.080 $ 14.154 $ 2.710 $ - $ - $ 2.710 $ 720.524 2049 $ 720.524 $ 13.804 $ 60.680 $ - $ - $ 60.680 $ 673.647 2050 $ 673.647 $ 12.627 $ 84.633 $ - $ - $ 84.633 $ 601.641 2051 $ 601.641 $ 11.245 $ 78.797 $ - $ - $ 78.797 $ 534.090 2052 $ 534.090 $ 10.669 $ 1.276 $ - $ - $ 1.276 $ 543.482 2053 $ 543.482 $ 10.649 $ 0.110 $ - $ 21.907 $ 22.017 $ 532.115 2054 $ 532.115 $ 10.638 $ 0.041 $ - $ 0.388 $ 0.429 $ 542.323 2055 $ 542.323 $ 10.845 $ - $ - $ 0.100 $ 0.100 $ 553.069 2056 $ 553.069 $ 11.061 $ - $ - $ - $ - $ 564.130 2057 $ 564.130 $ 11.283 $ - $ - $ - $ - $ 575.413 2058 $ 575.413 $ 11.508 $ - $ - $ - $ - $ 586.921 2059 $ 586.921 $ 11.738 $ - $ - $ - $ - $ 598.659 2060 $ 598.659 $ 11.973 $ - $ - $ - $ - $ 610.633 2061 $ 610.633 $ 12.213 $ - $ - $ - $ - $ 622.845 2062 $ 622.845 $ 12.457 $ - $ - $ - $ - $ 635.302 2063 $ 635.302 $ 12.706 $ - $ - $ - $ - $ 648.008 2064 $ 648.008 $ 12.960 $ - $ - $ - $ - $ 660.968 2065 $ 660.968 $ 13.219 $ - $ - $ - $ - $ 674.188 2066 $ 674.188 $ 13.484 $ - $ - $ - $ - $ 687.671 2067 $ 687.671 $ 13.753 $ - $ - $ - $ - $ 701.425 2068 $ 701.425 $ 14.028 $ - $ - $ - $ - $ 715.453 2069 $ 715.453 $ 14.309 $ - $ - $ - $ - $ 729.762 2070 $ 729.762 $ 14.595 $ - $ - $ - $ - $ 744.358 2071 $ 744.358 $ 14.819 $ 6.792 $ - $ - $ 6.792 $ 752.385 Remaining $ In 2019 Dollars $ 301.206 $ 71.163 $ 22.395 $ 394.764 Est. Fund Balance (end of Decommissioning) (In Future $ escalated at 0.0% & 2.0% Real Rate of Return Fund Growth Rate) $ 752.385 Est. Fund Balance (end of Decommissioning) discounted to 2019 Dollars Discount Rate = 2.00% $ 268.678

Serial No. 19-048 Docket No.50-245 Attachment 1 Page 3 of 3 Table II Definitions: Column 1: Beginning of Year Balance: Reflects the beginning-of-year Trust Fund balance at a 0.0% cost escalation rate and a 2.0% Real Rate of Return (RRoR) on fund growth. Column 2: Earnings on Trust Funds: Reflects earnings on funds remaining in the trust. A 2.0% RRoR Fund growth rate is used for 2019 through 2071 which reflects the allowed 2.0% RRoR over a 0.0% cost escalation rate. The annual 2.0% RRoR earnings are calculated on the beginning balance less 50% of the projected annual expenditure for each year. Column 3: Remaining License Termination Expenditures: Reflects the annual License Termination Plan cost portion at a 0.0% escalation rate from the Site Specific Estimate. Column 4: Remaining Spent Fuel Management Expenditures: Reflects the annual Irradiated Fuel Management Plan cost portion at a 0.0% escalation rate from the Site Specific Estimate. This column provides funding information for managing irradiated fuel as required by 10 CFR 50.82(a)(8)(vii). Column 5: Remaining Site Restoration Expenditures: Reflects the annual Site Restoration Plan cost portion at a 0.0% escalation rate from the Site Specific Estimate. Column 6: Remaining SAFSTOR Expenditures: Reflects the annual SAFSTOR Decommissioning Plan cost at a 0.0% escalation rate from the Site Specific Cost Estimate. Column 7: End of Year Balance: Reflects the end of year Trust Fund balance after projected earnings are added and projected expenditures are deducted for the year specified at a 0.0% escalation rate and a 2.0% RRoR on fund growth. Tables I and II General Notes: (Any minor differences in totals are due to rounding.)

1) Trust Fund balance reflects market value on December 31, 2018, net of taxes on realized gains and losses.
2) The 2.0% RRoR is based on the rate allowed by 10 CFR 50.75(e)(1)(i) and 10 CFR 50.82(a)(8)(vi).
3) The funding method for providing financial assurance for decommissioning MPS1 remains prepayment. The cash flow analysis in Table II demonstrates that the amounts accumulated in the Trust are sufficient, with credited earnings at a 2.0% RRoR, to cover the estimated cost of radiological decommissioning, spent fuel management and site restoration.}}
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