ML061320020
| ML061320020 | |
| Person / Time | |
|---|---|
| Site: | Wolf Creek  |
| Issue date: | 05/05/2006 |
| From: | Stull A Wolf Creek |
| To: | Document Control Desk, Office of Nuclear Reactor Regulation |
| References | |
| CT 06-0034 | |
| Download: ML061320020 (7) | |
Text
W~LF CREEK NUCLEAR OPERATING CORPORATION Annette Stull Vice President and Chief Administrative Officer May 5, 2006 CT 06-0034 ATTN: Document Control Desk Director, Office of Nuclear Reactor Regulation U. S. Nuclear Regulatory Commission Washington, D.C. 20555-0001
Subject:
Docket No: 50-482 - Guarantee of Payment of Deferred Premiums, 10 CFR 140.21 Gentlemen:
Pursuant to the requirements of 10CFR 140.21, each operating reactor licensee is required to maintain financial protection through guarantees of payment of deferred premiums.
The owners of Wolf Creek Generating Station are providing the enclosed documentation of their ability to pay deferred premiums in the amount of fifteen million dollars, as required by 10 CFR 140.21 (e).
Kansas Gas and Electric Company (KGE), a wholly-owned subsidiary of Westar Energy, Inc.,
Kansas City Power & Light Company (KCPL), a wholly-owned subsidiary of Great Plains Energy Incorporated, and Kansas Electric Power Cooperative, Inc. (KEPCo) have each provided audited Consolidated statements of Cash Flows in order to demonstrate sufficient funds are available to meet their share of the deferred premiums.
If you have any questions concerning this matter, please contact me at (620) 364-4004 or Mr.
Kevin Moles at (620) 364-4126.
Very truly yours, Annette F. Stull AFS/rIt Enclosures ;-
cc:
J. N. Donohew (NRC), w/e W. B. Jones (NRC), w/e B. S. Mallett (NRC), w/e Senior Resident Inspector (NRC), w/e P.O. Box 411 I Burlington, KS 66839 Phone: (620) 364-8831 I
04 An Equal Opportunity Employer M/F/HC/NET
Westar Energy.
LEE WAGES Vice Presient, Con"ler May 4, 2006 Mr. Thomas J. Robke Wolf Creek Nuclear Operating Corporation PO Box 411 Burlington, KS 66839
Dear Mr. Robke:
Pursuant to the requirements of 10 CFR 140.21(e), Westar Energy, Inc., including its wholly-owned subsidiary, Kansas Gas and Electric Company since March 31, 1992, is providing the attached audited Consolidated Statements of Cash Flows of its ability to make payment of its share of deferred premiums in an amount of $7.05 million.
The undersigned certifies that the foregoing memorandum with respect to Westar Energy, Inc.'s cash flow for the year 2005 is true and correct to the best of his knowledge and belief.
Sincerely, eWages Vice President, Controller Ims attachment cc: Carla Zoetmulder 818 South Kansas Avenue / P.O. Box 889 / Topeka, Kansas 66601 Telephone: (785) 575-6320 / Fax: (785) 575-6496 Mobile: (785) 220.5471 Internet: lee.wages@wr.com
WESTAR ENERGY, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS (Dollars in Thousands)
CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES:
Net income..........................................................................................................................
Adjustments to reconcile net income to net cash provided by operating activities:
Discontinued operations, net of tax...............................................................................
Depreciation and amortization......................................................................................
Am ortization of nuclear fuel.........................................................................................
Am ortization of deferred gain from sale-leaseback.......................................................
Am ortization of corporate-owned life insurance............................................................
Non-cash stock com pensation.......................................................................................
Net changes in energy marketing assets and liabilities...................................................
Loss on extinguishment of debt and settlement of putable/callable notes.......................
Net changes in fair value of call option.........................................................................
Gain on sale of ONEOK, Inc. stock..............................................................................
Accrued liability to certain form er officers....................................................................
Gain on sale of utility plant and property.......................................................................
Net deferred incom e taxes and credits...........................................................................
Changes in working capital items, net of acquisitions and dispositions:
Accounts receivable, net...............................................................................................
Inventories and supplies................................................................................................
Prepaid expenses and other...........................................................................................
Accounts payable..........................................................................................................
Accrued taxes...............................................................................................................
Other current liabilities.................................................................................................
Changes in other, assets.......................................................................................................
Changes in other, liabilities..................................................................................................
Cash flows from operating activities.........................................................................
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES:
Additions to property, plant and equipm ent.........................................................................
Purchase of securities within the nuclear decommissioning trust fund.................................
Sale of securities within the nuclear decommissioning trust fund........................................
Investm ent in corporate-owned life insurance......................................................................
Proceeds from investment in corporate-owned life insurance.......................................
Proceeds from sale of Protection One, Inc..........................................................................
Proceeds from sale of Protection One, Inc. bonds................................................................
Proceeds from sale of plant and property.............................................................................
Proceeds from sale of international investment....................................................................
Proceeds from sale of ONEOK, Inc. stock...........................................................................
Issuance of officer loans and interest, net of payments.........................................................
Proceeds from other investm ents.........................................................................................
Cash flows (used in) from investing activities...........................................................
CASH FLOWS FROM (USED IN) FINANCING ACTIVITIES:
Short-term debt, net.............................................................................................................
Proceeds from long-term debt..............................................................................................
Retirem ents of long-term debt.............................................................................................
Funds in trust for debt repayments.......................................................................................
Purchase of call option investment......................................................................................
Repayment of capital leases.................................................................................................
Borrowings against cash surrender value of corporate-owned life insurance........................
Repayment of borrowings against cash surrender value of corporate-owned life insurance..
Issuance of comm on stock, net...........................................................................................
Cash dividends paid.............................................................................................................
Reissuance of treasury stock................................................................................................
Cash flows used in financing activities.....................................................................
CASH FLOWS FROM (USED IN) DISCONTINUED OPERATIONS:
Cash flows from operating activities....................................................................................
Cash flows used in investing activities.................................................................................
Cash flows used in financing activities................................................................................
Net cash (used in) from discontinued operations.......................................................
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS...............................
CASH AND CASH EQUIVALENTS:
Beginning of period.............................................................................................................
End of period.......................................................................................................................
Year Ended December 31.
2005 2004 Revised (See Note 2)
$ 135,610
$ 178,870 (742)
(78,790) 150,520 169,310 13,315 14,221 (8,469)
(11,828) 16,265 12,622 3,219 7,916 5,799 4,383 18,840 2,018 8,384 (503) 25,552 (5,215)
(32,179)
(11,561) 22,745 10,368 (65,635)
(35,114) 6,929 6,439 91,938 43,463 (20,876)
(5,907) 20,374 12,846 (12,492) 6.880 353.891 345.624 (212,814)
(372,426) 367,570 (19,346) 10,997 13.990 (212,029) 642,807 (741,847)
(4,898) 58,039 (13,026) 5,584 (74,593)
(127.934) 13,928 24.611 (197,149)
(313,241) 309,105 (19,658) 81,670 26,640 8,604 11,219 2
16.548 (76.260)
(1,000) 623,301 (1,188,081) 78 (4,977) 57,090 (444) 245,130 (56,189) 1,927 (323.165) 2,265 (3,412)
(1.147)
(54,948) 79.559 24.61 2003 Revised (See Note 2) 85,010 77,905 167,236 12,410 (11,828) 14,320 6,885 (1,855) 26,455 2,178 (99,327) 1,205 (11,912)
(100,275)
(32,031) 8,607 6,426 6,072 81,135 (84,793) 1,783 (7.066) 148.540 (163,314)
(235,890) 228,737 (19,599) 33,303 801,841 438 9.893 655.409 (963,330) 145,182 (65,785)
(5,138) 58,818 (419)
(57,726) 7.260 (881.138) 82,384 (28,882)
(9.803) 43.699 (33,490) 113.049 79.55 The accompanying notes are an integral part of these consolidated financial statements.
55
6PHRT PLEMMtt>Y May 5, 2006 Mr. Todd Laflin Wolf Creek Nuclear Operating Corporation P.O. Box 411 Burlington, KS 66839
Dear Todd:
Pursuant to the requirements of 1 0 CFRI 40.21(e), Kansas City Power & Light Company is providing the attached audited Consolidated Statements of Cash Flows to provide evidence of the ability to make payment of its share of deferred premiums in an amount of $7.1 million.
To the best of my knowledge I certify that the foregoing memorandum with respect to Kansas City Power & Light Company's cash flow for the year 2005 is true and correct.
Sincerely, C
Lo Wright Controller Attachment P.O. BOX 418679 a
KANSAS CITY. MO 64141-9679 TEL 816.556.2200 a
WWW.KCPL.COM WWW.GREATPLAINSENERGY.COM
GREAT PLAINS ENERGY Consolidated Statements of Cash Flows Revised 2004 Revised 2003 Year Ended December 31 2005 Cash Flows from Operating Activities Net income Adjustments to reconcile income to net cash from operating activities:
Depreciation and amortization Amortization of:
Nuclear fuel Other Deferred income taxes, net Investment tax credit amortization Loss from equity investments (Gain) loss on property Minority interest in subsidiaries Other operating activities (Note 2)
Net cash from operating activities (thousands)
$ 162,310
$ 180,811 153,080 13,374 10,580 (23,021)
(3,889) 434 3,295 7,805 92,923 150,090 14,159 11,827 30,319 (3,984) 1,531 (9,686)
(2,131)
(18,866)
$ 144,923 143,712 12,334 11,626 17,058 (3,994) 2,018 30,797 7,764 20,857 416,891 354,070 387,095 Cash Flows from Investing Activities Utility capital expenditures Allowance for borrowed funds used during construction Purchases of investments Purchases of nonutility property Proceeds from sale of assets and investments Purchases of nuclear decommissioning trust investments Proceeds from nuclear decommissioning trust investments Purchase of additional indirect interest in Strategic Energy Hawthorn No. 5 partial insurance recovery Hawthorn No. 5 partial litigation settlements Other investing activities (327,283)
(1,598)
(14,976)
(6,853) 17,369 (34,607) 31,055 10,000 (930)
(190,548)
(1,498)
(35,003)
(6,108) 67,457 (49,720) 46,167 (90,033) 30,810 1,139 (7,081)
(148,675)
(1,368)
(22,746) 33,277 (111,699) 108,179 3,940 17,263 (1,220)
Net cash from investing activities (327,823)
(234,418)
(123,049)
Cash Flows from Financing Activities Issuance of common stock 9,061 153,662 Issuance of long-term debt 334,417 163,600 Issuance fees (4,522)
(14,496)
(266)
Repayment of long-term debt (339,152)
(213,943)
(133,181)
Net change in short-term borrowings 17,900 (67,000) 42,320 Dividends paid (125,484)
(120,806)
(116,527)
Other financing activities (5,975)
(7,309)
(7,598)
Net cash from financing activities (113,755)
(106,292)
(215,252)
Net Change in Cash and Cash Equivalents (24,687) 13,360 48,794 Less: Net Change in Cash and Cash Equivalents from Discontinued Operations (626) 458 73 Cash and Cash Equivalents at Beginning of Year 127,129 114,227 65,506 Cash and Cash Equivalents at End of Year
$ 103,068
$ 127,129
$ 114,227 The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.
60 M
0___
FM=NSM I
Efm -ls KEPCo Kansas Electric
_ Power Cooperative, Inc.
May 4, 2006 Ms. Annette Stull Wolf Creek Nuclear Operating Corporation P.O. Box 411 Burlington, KS 66839
Dear Annette:
Pursuant to the requirements of 10 CFR 140-21 (e), Kansas Electric Power Cooperative, Inc. is providing the attached audited Statement of Cash Flows to show its ability to make payment of its share of deferred premiums in an amount of $900,000.
The undersigned certifies that the foregoing memorandum with respect to Kansas Electric Power Cooperative, Inc.'s. Cash flow for the year 2005 is true and correct to the best of her knowledge and belief.
Sincerely yours, Coleen M. Wells VP Finance, and Controller Enclosure (1)
Phone: 785.273.7010 Fax: 785.271.4888 www.kepco.org PO Box4877 Topeka. KS 66604-0877 600 SW Corporate Mew Topeka, KS 66615 A Uda EK ES C v
RETANEMMI
-l KANSAS ELECTRIC POWER COOPERATIVE, INC. AND SUBSIDIARIES Consolidated Statements of Cash Flows
]
Years ended December 31, 2005 and 2004 I
2005 I
I i
I Cash flows from operating activities:
Net margin Adjustments to reconcile net margin to net cash provided by operating activities:
Depreciation and amortization Decommissioning Amortization of nuclear fuel Amortization of deferred charges Amortization of deferred incremental outage costs Amortization of debt issuance costs Changes in assets and liabilities:
Member accounts receivable Materials and supplies Other assets and prepaid expenses Accounts payable Payroll and payroll-related liabilities Accrued property taxes Accrued interest payable Restricted assets Other long-term liabilities Net cash provided by operating activities 3,451,857 3,911,449 451,304 1,681,987 4,045,720 2,373,628 1,226,873 (1,326,340)
(42,261)
(202,794) 284,122 (2,444)
(16,441) 51,333 (49,836) 249,471 16,087,628 (1,469,394)
(615,088)
(3,556,885)
(451,304)
(6,092,671) 2004 3,186,603 3,817,830 443,300 1,795,148 4,052,034 2,221,663 668,799 (111,404)
(126,980)
(76,018) 1,027,412 20,594 20,129 (1,256,675)
(71,032) 205,374 15,816,777 (2,130,735)
(2,660,067)
(259,634)
(443,300)
Cash flows from investing activities:
Additions to electric plant, net Additions to nuclear fuel Additions to deferred incremental outage costs Investments in decommissioning fund assets Net cash used in investing activities Cash flows from financing activities:
.1 Repayment of long-term debt Increase in debt issuance costs related to debt refinancing Net cash used in financing activities Net increase (decrease) in cash and cash equivalents Cash and cash equivalents at:
I Beginning of year End of year Supplemental disclosures of cash flow information:
Cash paid during the year for interest (5,493,736)
U (9,209,029)
(670,489)
(9,879,518) 115,439 5,229,724 5,345,163 8,852,162 (13,320,150)
(2,997,109) 8,226,833 5,229,724 (13,320,150) 10,543,271 I
I I
See accompanying notes to consolidated financial statements.
8