ML100990173

Annual Report - Guarantees of Payment of Deferred Premiums

ML100990173
Person / Time
Site:	Salem, Hope Creek
Issue date:	04/01/2010
From:	Joyce T Public Service Enterprise Group
To:	Document Control Desk, Office of Nuclear Reactor Regulation
References
LR-N10-0115
Download: ML100990173 (7)

Text

Thomas P. Joyce President & Chief Nuclear Officer President & Chief Nuclear Officer P. 0. Box 236, Hancocks Bridge, NJ 08038 tel: 856.339.1100 fax: 856.339.1104 email: Thomas.Joyce@pseg.com 0 PSEG Nuclear LLC 10 CFR 140.21 APR01 2010 10 CFR 50.71(b)

LR-N10-0115 U. S. Nuclear Regulatory Commission ATTN: Document Control Desk Washington, DC 20555-0001 Salem Nuclear Generating Station Units 1 and 2 Facility Operating License Nos. DPR-70 and 75 NRC Docket Nos. 50-272 and 50-311 Hope Creek Generating Station Facility Operating License No. NPF-57 NRC Docket No. 50-354

Subject:

2010 Annual Report - Guarantees of Payment of Deferred Premiums PSEG Nuclear LLC (PSEG) as the licensee of the Salem Generating Station Unit Nos.

1 and 2 and the Hope Creek Generating Station, submits the following statements and supporting documents to satisfy the guarantee of payment of deferred premium requirements as provided under 10 CFR 140.21(e) of the Regulations of the Nuclear Regulatory Commission:

1.

2009 PSEG Annual Report and/or Form 10-K. (Enclosure) Submitted in accordance with 10 CFR 50.71(b).

2.

Individual certified Internal Cash Flow Statements showing 2009 Actual and 2010 Projected with Explanation of Significant Variations. (Attachment 2)

3.

A non-proprietary version of the Internal Cash Flow Statement is contained in. contains information proprietary to PSEG. PSEG requests that the contents of Attachment 2 be withheld from public disclosure in accordance with 10 CFR 2.390(a)(4). An affidavit in support of PSEG's request to withhold proprietary information from public disclosure, in accordance with 10 CFR 2.390(a)(4), is included as Attachment 1.

This letter forwards Proprietary Information in accordance with IOCFR 2.390. The balance of this letter may be considered non-proprietary upon removal of Attachment 2.

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'APR 012010 Document Control Desk LR-NI10-0115 Page 2 Should you have any questions regarding this transmittal, please contact Mrs. Erin West at (856) 339-5411.

Sincerely, 7h omyasRJovc President & Chief Nuclear Officer - PSEG Nuclear Enclosure 2009 PSEG Annual Report Attachments (3)

Affidavit to withhold proprietary information PSEG Power LLC, Internal Cash Flow Statement (Proprietary)

PSEG Power LLC, Internal Cash Flow Statement (Non-Proprietary)

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 2.

'APR o 2010 Document Control Desk LR-N10-0115 Page 3 C

All w/o 2009 PSEG Annual Report and Attachments 1 and 2 Mr. S. Collins, 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. R. Ennis, Project Manager - Hope Creek and Salem U. S. Nuclear Regulatory Commission Mail Stop 08B2 11555 Rockville Pike Rockville, MD 20852 Mr. P. Mulligan, Manager IV Bureau of Nuclear Engineering P. O. Box 415 Trenton, NJ 08625 This letter forwards Proprietary Information in accordance with IOCFR 2.390. The balance of this letter may be considered non-proprietary upon removal of Attachment 2.

LR-N10-0115 Affidavit to withhold proprietary information in accordance with 10 CFR 2.390(a)(4)

AFFIDAVIT I, Thomas P. Joyce, President & Chief Nuclear Officer of PSEG Nuclear LLC (PSEG),

do hereby affirm and state:

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.

PSEG is providing information pursuant to 10 CFR 140.21(e), which constitutes proprietary financial information that should be held in confidence by the NRC pursuant to the policy reflected in 10 CFR 2.390(a)(4), because:

This information is and has been held in confidence by PSEG.

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.

The information is being transmitted to the NRC in confidence.

This information is not available in public sources and could not be gathered readily from other publicly available information.

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.

Accordingly, PSEG requests that the designated documents be withheld from public disclosure pursuant to the policy reflected in 10 CFR 2.390(a)(4).

Thomas P. Joyde' President & Chief Nuclear Officer - PSEG Nuclear Subscribed-and Sworn to before me Notary Public of New4ersey My Commission expires on Z/7 Ann L Shimp Notary Public of New Jersey My Commission Expires October 17, 2012 LR-N10-0115 Non-Proprietary PSEG Power LLC (Salem and Hope Creek)

Internal Cash Flow Statement

PSEG Power LLC Internal Cash Flow Statement (Millions) 2009 Actual Net Income 1,189 Less: Dividends Paid 940 Subtotal 249 Adjustments:

Depreciation and Amortization 203 Amortization of Nuclear Fuel 121 Deferred Income Taxes and Investment Tax Credits 133 Accretion on Asset Retirement Obligations 27 Net Realized Earnings on NDT Funds (50)

Net Realized and Unrealized Gains on Energy Contracts 25 Employee Benefit Plan Funding in Excess of Non-Cash Costs (38)

Interest Capitalized During Construction (58)

Total Adjustments 363 Internal Cash Flow 612 Average Quarterly Cash Flow 153