ML20135C909

Forwards Annual Cashflow Statements for Util & Nine Sponsor Companies for FY95

ML20135C909
Person / Time
Site:	Vermont Yankee
Issue date:	11/22/1996
From:	Wiggett B VERMONT YANKEE NUCLEAR POWER CORP.
To:	NRC OFFICE OF INFORMATION RESOURCES MANAGEMENT (IRM)
References
BVY-#96-149, NUDOCS 9612090148
Download: ML20135C909 (3)

Text

. VERMONT YANKEE l NUCLEAR POWER CORPORATION

. Ferry Road, Brattleboro, VT OLi301-7002 M

BVY # 96-149 Noven.ber 22,1996

../

(802) 257-5271 United States Nuclear Regulatory Commission ATTN: Document Control Desk Washington, DC 20555

References:

(a) License No. DPR-28 (Docket No. 50-271)

(b) 10CFR, Section 140.21

Subject:

Vermont Yankee 10CFR 140.21 Submittal:

Licensee Guarantees of Payment of Deferred Premiums In accordance with the requirements of 10CFR 140.21(e), enclosed herewith are the annual cashflow ,.

statements for Vermont Yankee and each of Vermont Yankee's nine sponsor companies for the year 1995.

This information is submitted as evidence that Vermont Yankee maintains an approved guarantee of payment should a $10 million retrospective premium be assessed under the Price-Anderson Act.

Under the Power Contracts between Vermont Yankee and its nine sponsor companies, Vermont Yankee would bill retrospective premium assessments to its sponsors as part of the monthly Power Contract Billing. As such, the " Cost of Purchased Power" as expressed in the enclosed sponsor financial ,

information has been adjusted to reflect the effect of including the maximum annual retrospective  ;

premium obligation for each sponsor company. Purchased power costs are paid for by our nine sponsor companies out of onerating revenues rather than net income or sponsor financing and, as such, we suggest j that each sponsor shown on the enclosed table has operating revenues which are more than adequate to l pay all purchased power costs including the pro-rated minimum premium assessment.  !

Should you have any questions or require further information regarding this matter, please contact this office.

Very truly yours, ,

, L ,

9612090148 961122 Y2 )

ADOCK 0500 2 1 gDR ruce W. Wiggett Vice President, Finance and Treasurer i I

Enclosure s g cc: USNRC Region I Administrator USNRC Resident Inspector - VYNPC h{(d USNRC Project Manager

VERMONT YANKEE NUCLEAR POWER CORPORATION 1996 ESTIMATED CASHFLOW (dollars in 000's)

Sept 30,1996 Dec 31,1996 TOTAL actual estimate estimate CashflowJrom OperatingActivities; (9 mos) (3 mos) (12 mos)

Net Income 5,035 1,685 6,720 Depreciation and Amortization 10,963 4,093 15,056 Fuel Amortization 11,575 4,673 16,248 Decommissioning Expense 9,522 3,227 12,749 Nuclear Fuel Disposal Fee Interest 3,531 1,700 5,231 Disposal Fee Defeasance Fund Eamings (2,929) (1,743) (4,672)

Income Tax Deferred & ITC (7,917) (2,639) (10,555)

Interest and Taxes Payable 1,066 0 1,066 Other Sources /Uses 12,361 0 12,361 Pro-Forma Power Cost Assessment Under Power Contracts for Retrospective Premiums Payable by Sponsors per 10 CFR, Section 140.21 _

0 10,000 10,000 Sub-Total from Operating Activities 43,207 20,996 64.204 CashEowsimmlnyestingActivities; Electric Plant Additions (incid removal costs) (12,140) (5,251) (17,391)

NuclearFuel Additions (21,427) 0 (21,427)

Payments to Decommissioning Fund (9,679) (3,226) (12,905)

Payments to DOE Defeasance Fund (8,000) 0 (8,000)

Other 0 0 0 Pro-Forma Retrospective Premium 0 (10,000) (10,000)

Sub-Total from Investing Activities (51,245) (18,478) (69,723)

Cashflow_fromlixternallinancing:

Payments of Long-Term Obligations (19,857) 0 (19,857)

Borrowing under Long-Term Agreements 19,857 0 19,857 Changes in Short-Tenn Borrowing 0 0 0 Common Stock Dividends Paid (4,309) (1,820) (6,129)

Other Financing Costs 0 0 0 Sub-Total from F;nancing Activities (4,309) (1,820) (6,129)

Net Change in Cash & Equivalents (12,347) 699 (11,649)

Cash and Cash Equivalents at beginning of period 14,002 1,654 14,002 Cash and Cash Equivalents at end of period 1,654 2,.353 2,353 I hereby certify that I am Vice President, Finance and Treasurer of Vermont Yankee Nuclear Power Corporation and that this statement fairly represents the estimated cashflow of the Company for the period ended 12/31/96. ~

> /

~ r~dce W. Wiggd ~ ~

Vice President, Finance and Treasurer

m _ m _. _ m_ . .. _ .. m_, m _ _ _ _ . - _ . . .__m- m - ~ _ _ . m __m ..___m =-.___...-__m .m_- .. .. . . .. .

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o VERMONT YANKEE NUCLEAR POWER CORPORATION 1996 OPERATIONAL AND CASII FLOW - VERMONT YANKEE SPONSORSlADJUSTED) ,

(DOLLARS IN TIIOUSANDS) i CENTRAL VT OREEN NEW ODNNECTICUT CENTRrL PUBLIC 5ERVICE MMM WONTAUP CAMBRIDGE PUsuCSERVKE . MOUNTAIN ENGLAND UOffI& POWFR MAfME POWER CD OF NEW MASS EUCTRIC ELECTRIC CQREQRADQN POWER CORP. POWERCDMPANY CDMPANT CDMPANY BAARE5 TERE FirTRIC CTL EK3dEAMI UGHT COMPANY OPERAMONALINIORMATIDN OPERAMN0 REVENUES 288,312 178,412 895,101 343,832 ' '118,909 OPERATING EXPENSE 3 I

OPERAT10PR CDST OF PURCHASED POWER

• I57,09I 97,897 94,202 128,287 65,632 UTHER OPERATIONS 72,558 25,5 % 123,144 141,590 33,242 PUEL 0 0 354,903 0 O q omER OPER/.71NG EXPEN5ESStAINT TAXES.DEPREC) 40,223 41,040 233,649 40,442 13,656 TOTAL OPE RAMNO EXPEN5Es 269,872 164,533 805.898 310,319 112,530 MHER INQDfE e ND DEDUCTKH5 (INCINTEREST EXPENSE) (3,396) (3,814) (32,938) (17,425) (3,369)

NET INCOME 15.044 10.065 56.265 L6.088 3.010 i

INTERhALIL'NDHRIEQRMA20N NET INCOME 15.044 10,065 (10,716) (37,669) 56,265 69,226 (2,583) 16.088 3,010 DEPRECIADON AND AMORTIZADON 18,144 16,276 105,000 274,302 47,563 101,179 50,520 20,904 4.344 l c2PERREDINCOMETAXES ANDITC-NET 2,393 1,305 10,000 (51,881) (3,038) 78,494 (4.978) 4,699 64 ,

nufWANCE POR FUND 5 05ED DURINO CDN5TRUCDON (214) (606) 0 (2,365) (1,187) (1,174) (725) (854) (28) i DEFERRED RETURN ASSOCIATED WWIuETONE 3 PHA5E IN (215) 0 0 0 0  ;

cmDENDs (11,719) (11,251) . 0 (153,305) (38,623) (65,250) (21,089) (18,555) (3,017)

OTHER INTERNAL SOURCES. NET I,849 (5,921) 25,000 83,047 41,750 (46,257) I,279 2,342 (1,848) 1UTAL INTEMAL PUNDSCASH PLUW 25,497 9,868 129,284 111,914 102,730 136,218 22,424 24,624 2,525 .

omER sources. NET 0 (25,396) 0 0 0 0 0 0 (67)

EXTTRNAL PINANCING. NET l.250 13,890 (,55,000) 0 (42,746) 0 0 0 2,600 TOTAL FUNDS FROM ALL SOURCES 26.747 (1.638) 74.284 111.914 59.984 136.218 22,424 24.624 5.058 I K3 RAGE. QUARTERLY CASH PLOW.

INTERNAL PUNDs 6,374 2,467 32,321 27,979 25,683 34,055 5,606 6,156 631 ,

ALL 90URCES 6,687 (410) 13,571 27,979 14,996 34,055 5,606 6,156 1,265 PERCENTAGE OF NtnEAR OPERATING PIANTS OWNED:

VERMoNTvANREE 35.00 % 20.00 % 20.00 % 9.50 % 4.00 % 4.00 % 2.50 % 2.50 % 2.50% -

OTHEF OPERATING PLANTS 7.50 % 0.00 % 87.16 % 290.10 % 56.00 % 19.80 % 69.70 % 19.90 % 10.50 %

TOTALPERCENTAOE 42.50 % 20.00 % 107.16 % 299.60 % 60.00 % 23.80 % 72.20 % 22.40 % 13.00 %  !

s MaxrMLW PREMTLM ASSESSMENT 4,250 2,000 10.716 29.960 6,000 2,380 7,220 2,240 1,300  !'

' UNDER VERMONT YANREES POWER CUNTRACTS WTTH TTS SPONSOR ODMPANTES. VERMONT YANKEE WOULD BILL 5PON50RS THE RETROSPECIIVE PREMIUM ASSE55MLNT AS PART OFTHE M0!TIMLY POWER (XPfTRACT

.Iuom As UCH To mT OP PURCHAseo POWER HAs.eEN AD,U TEoTO RE,tECTT= EPPECTOrmuoiNOT MAXmW ANNuAt ,REMiuM As.E MENT ,0R.Ae sPON.OR As sHOWN A.- ,

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