LR-N04-0158, Guaranteed Retrospective Premiums Following a Nuclear Accident
| ML040990054 | |
| Person / Time | |
|---|---|
| Site: | Salem, Hope Creek  |
| Issue date: | 03/31/2004 |
| From: | John Carlin Public Service Enterprise Group |
| To: | Document Control Desk, Office of Nuclear Reactor Regulation |
| References | |
| LR-N04-0158 | |
| Download: ML040990054 (7) | |
Text
PSEG Nuclear LLC P.O. Box 236, Hancocks Bridge, New Jersey 08038-0236 MAR 3 1 2004 0 PSEG LR-N04-0158 ANuclear LLC United States Nuclear Regulatory Commission Document Control Desk Washington, DC 20555 GUARANTEED RETROSPECTIVE PREMIUMS FOLLOWING A NUCLEAR ACCIDENT SALEM AND HOPE CREEK GENERATING STATIONS DOCKET NOS. 50-272, 50-311 & 50-354 FACILITY OPERATING LICENSE NOS. DPR-70, -75 AND NPF-57 Pursuant to the 1975 Amendments to the Price-Anderson Act (Public Law 94-197), the owners of Salem Generating Station, Unit Nos. 1 and 2, and the Hope Creek Generating Station submit the following statements and supporting documents to satisfy guarantee requirements as provided under 10CFR140.21(e):
- 1.
2003 Stockholders' Annual Report and/or Form 10-K of each owner (except as noted below).
- 2.
Individual certified Internal Cash Flow Statements showing 2003 Actual and 2004 Projected with Explanation of Significant Variations (except as noted below). contains information proprietary to PSEG Power, LLC. PSEG Power, LLC requests that the contents of Attachment 1 be withheld from public disclosure in accordance with I0CFR2.390(a)(4). An affidavit supporting the 1 OCFR2.390(a)(4) request is contained in Attachment 2. A non-proprietary version of the Internal Cash Flow Statement is contained in Attachment 3.
The Exelon Energy Company LLC files similar documents for the owners of the Peach Bottom Atomic Power Station, Unit Nos. 2 and 3 and are therefore, not included in this submittal.
This letter forwards Proprietary Information in accordance with 10CFR 2.390. The balance of this letter may be considered non-proprietary upon removal of Attachment 1.
95-2168 REV 7/99
Document Control Desk LR-N04-01 58 2
MAR 3 1 2004 Should you have any questions regarding this request, we will be pleased to discuss them with you.
Since ely arlin Vic&President - Nuclear Assessments Enclosure 0 PSEG Power LLC, Annual Report Attachments
- 2. Affidavit to withhold proprietary information
This letter forwards Proprietary Information in accordance with 10CFR 2.390. The balance of this letter may be considered non-proprietary upon removal of Attachment 1.
Document Control Desk LR-N04-01 58 3
MAR 3 1 2004 C
All w/o 2003 PSEG Power LLC, Annual Report and Attachment 1 Mr. H. Miller, Administrator - Region I U. S. Nuclear Regulatory Commission 475 Allendale Road King of Prussia, PA 19406 USNRC Senior Resident Inspector - Salem (X24)
USNRC Senior Resident Inspector - Hope Creek (X24)
Mr. D. Collins, Project Manager - Hope Creek and Salem U. S. Nuclear Regulatory Commission Mail Stop 08C2 Washington, DC 20555 Mr. K. Tosch, Manager IV Bureau of Nuclear Engineering P. O. Box 415 Trenton, NJ 08625 Mr. Ira Dinitz U. S. Nuclear Regulatory Commission Mail Stop 11 F10 Washington, DC 20555 This letter forwards Proprietary Information in accordance with 10CFR 2.390. The balance of this letter may be considered non-proprietary upon removal of Attachment 1.
Affidavit to withhold proprietary information in accordance with 1 OCFR 2.390(a)(4)
AFFIDAVIT I, John Carlin, Vice President - Nuclear Assessment of PSEG Nuclear LLC (PSEG), do hereby affirm and state:
- 1. I am an officer of PSEG authorized to execute this affidavit on its behalf. I am further authorized to review information submitted to the Nuclear Regulatory Commission (NRC) and apply for the withholding of information from disclosure.
- 2. PSEG is providing information pursuant to 1 OCFR140.21 (e), which constitutes proprietary financial information that should be held in confidence by the NRC pursuant to the policy reflected in 10CFR2.390(a)(4), because:
- i. This information is and has been held in confidence by PSEG.
ii. This information is of a type that is held in confidence by PSEG, and there is a rational basis for doing so because the information contains sensitive financial information concerning PSEG's projected revenues and operating expenses.
iii. The information is being transmitted to the NRC in confidence.
iv. This information is not available in public sources and could not be gathered readily from other publicly available information.
- v. Public disclosure of this information would create substantial harm to the competitive position of PSEG by disclosing PSEG's internal financial projections to other parties whose commercial interests may be adverse to those of PSEG.
- 3. Accordingly, PSEG requests that the designated documents be withheld from public disclosure pursuant to the policy reflected in 10CFR2.390(a)(4).
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-Subscribed and Sworn to before me thi.'
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g I t~rJ. Brown NoW Public of New Jersey My Coneswon Expires June 16. 200 Non-Proprietary PSEG Power LLC (Salem and Hope Creek)
Projected Internal Cash Flow Statement For Year 2004 Compared to 2003 Actual
PSEG Power LLC (Salem and Hope Creek)
Projected Intemal Cash Flow Statement For Year 2004 Compared to 2003 Actual (Millions)
Net Income Less: Dividends Paid Retained in Business Adjustments:
Depreciation and Amortization Amortization of Nuclear Fuel Deferred Income Taxes and Investment Tax Credits Accretion on NDT Liability Net Realized Gain and Income on NDT Funds Unrealized (Gains) Losses on Energy Trading Contracts Non-Cash Employee Benefit Plan Contracts Cumulative Effect of a Change in Accounting Principle, net of tax Allowance for Funds Used During Construction and Interest Capitalized During Construction 2003 Actual 844 2004 Protected Explanation of SlInlnfcant Varlations Related to Cumulative Effect of a Change in Accounting Principle-see below 844 102 89 Higher average plant balances due to various completed construction and development activity 151 24 (65) 33 Trading activity not planned at unrearlzed level 54 (370)
Related to the adoption of SFAS 143, 'Accounting for Asset Retirement Obrigations' on January 1, 2003 (109)
Total Adjustments Internal Cash Flow Average Quarterly Cash Flow (91) 753 188 I
As indicated by this statement, the Average Quarterly Cash Flow covers the maximum contingent liability, which amounts to $22 million annually, of PSEG Power LLC as defined under the Price Anderson Act.
BY DATE: 3t-6O V ice P
tawner ofiePresident and Treasurer