ML112371908

2010 DFS Report Analysis for South Texas Project, Unit 1

ML112371908
Person / Time
Site:	South Texas
Issue date:	11/14/2011
From:	Szabo A Division of Inspection and Regional Support
To:
Szabo, A L, NRR/DPR, 415-1985
References
Download: ML112371908 (5)

Text

Datasheet 1 Signature: _Shawn Harwell Date: 7/13/2011 Secondary Signature: Jo Ann Simpson Date: 7/26/2011 Spreadsheet created by: Aaron Szabo, Shawn Harwell Formulas verified by: Clayton Pittiglio 1

2

% Owned:

Category:

44.00%

1 40.00%

1 16.00%

1 3

4 Variable1 Variable1 Variable1 N

N Y

Y Y

N2 5

6 Any modifications to a licensee's method of providing decommissioning funding assurance? (Y/N) 7 N

1 Rates provided are considered variable because the rates are not consistent throughout the licensee(s) and/or years of operation/decommission.

Y 2 Year-to-year rates cannot be determined from the submitted information.

3 For NRG South Texas LP - The PUCT approved the Decommissioning Funds Collections Agreement by and between AEP Texas Central Company (TCC) and NRG South Texas LP in which TCC collects the non-bypassable charges and deposits them directly into trust. No additional review required.

$132,346,137 The total amount of dollars accumulated at the end of the appropriate year: (see below)

Any contracts upon which the licensee is relying? (Y/N)

Schedule of the annual amounts remaining to be collected: (provided/none)

Rate of Return on Earnings Allowed through Decom (Y/N)

Rate(s) of Other Factors

$310,437,076 Real Rate of Return PUC Verified (Y/N)

CPSB of SA 4 For CPSB of SA - The Master Trust Agreement was revised effective Jan 1, 2011, in accordance with a PUCT order authorizing transfer of funds from Unit 1 to a spent fuel subaccount to be used only for fuel-related costs incurred after shutdown commences. Additionally, the Mater Trust Agreement was revised to allow for creation of a pre-shutdown decommissioing cost subaccount to fund large component replacement and disposal costs. No additional review required.

Allowed through Decom (Y/N)

City of Austin

$49,778,721 Total Trust Fund Balance Post-RAI Rates Determined (Y/N)

Any material changes to trust agreements? (Y/N)

If a change has occurred, the reviewer will document on this sheet that a change has occurred and identify the reviewer who will evaluate the change: (see below)

Y4 Y3 Assumptions used in determining rates of escalation in decommissioning costs, rates of earnings on decommissioning funds, and rates of other factors used in funding projections: (see below)

RAI Needed (Y/N)

PUC Verified (Y/N)

$128,312,218 provided Did the licensee identify the amount of estimated radiological funds? (Y/N)

Escalation Rate Amount in Trust Fund:

NRG South Texas Licensee:

Plant name:

South Texas Project, Unit 1 50-498 Docket Number:

The minimum financial assurance (MFA) estimate pursuant to 10 CFR 50.75(b) & (c):

$466,924,483

Datasheet 2 Signature: _Shawn Harwell Date: 7/13/2011 Secondary Signature: Jo Ann Simpson Date: 7/26/2011 Spreadsheet created by: Aaron Szabo, Shawn Harwell Formulas verified by: Clayton Pittiglio Month:

12 8

PWR 3853

$105,000,000 112.8 1.98 0.65 2.23 1.676 191.4 114.2 3.049 250.0 82.0 0.13 2.253 0.22 12.28

% Owned:

Category 44.00%

1 40.00%

1 16.00%

1 2%

16.64 See Annuity Sheet See Annuity Sheet 2%

7

$565,599,946 NO Shortfall:

YES Does Licensee Pass:

Does Licensee Pass:

YES Total of Steps 1 thru 3:

See Annuity Sheet Number of Annual Payments:

Accumulation:

Step 2:

Earnings Credit:

$310,437,076 Decom Period:

See Total Step 2 Total Annuity Real Rate of Return per year Total Fund Balance:

$310,437,076 Total Step 1 + Step 2

$526,461,320

$39,138,626 Total Earnings for Decom:

Decom Period:

Total Earnings:

Real Rate of Return per year Latest Month Px Amount of NRC Minimum/Site Specific:

BWR/PWR MWth NRG South Texas CPSB of SA City of Austin

$74,695,662

$186,739,154 Total Annuity:

Step 3:

$128,312,218

$132,346,137 Amount in Trust Fund:

$94,891,967 Total Earnings:

$431,569,353 Real Rate of Return per year Fx Site Specific:

Total Step 2:

Years Left in License N/A Real Rate of Return per year Does Licensee Pass:

NO

$49,778,721 See Total Step 2

$526,461,320 Years remaining after annuity Px 50-498 20 31 Termination of Operations:

2027 1986$

Day Base Fx Plant name:

Value of Annuity per year (amount/See Annuity Sheet)

Licensee:

$205,413,070 NRC Minimum:

$466,847,886 Trust Fund Balance:

Step 1:

Bx Ex Lx ECI Base Lx Base Px 2010 Year:

South Texas Project, Unit 1 Docket Number:

Date of Operation:

Latest Month Fx

Datasheet 2 Signature: _Shawn Harwell Date: 7/13/2011 Secondary Signature: Jo Ann Simpson Date: 7/26/2011 Spreadsheet created by: Aaron Szabo, Shawn Harwell Formulas verified by: Clayton Pittiglio Month:

12 8

50-498 20 31 Termination of Operations:

2027 Day Plant name:

2010 Year:

South Texas Project, Unit 1 Docket Number:

Date of Operation:

2.00%

16.64 See Annuity Sheet See Annuity Sheet 2.00%

7 Real Rate of Return per year Accumulation:

Value of Annuity per year

$310,437,076 Total Annuity:

Number of Annual Payments:

Step 5:

Real Rate of Return per year Total Earnings:

$431,569,353 NO If licensee is granted greater than 2% RRR YES

$39,138,626 Total Step 5 Total of Steps 4 thru 6:

$565,599,946 Does Licensee Pass:

Total Earnings:

N/A 0

$526,461,320 See Annuity Sheet See Total Step 4 Decom Period:

Step 6:

$526,461,320 See Total Step 4 Does Licensee Pass:

Real Rate of Return per year YES Total Step 4 + Step 5 Total Earnings for Decom:

Decom Period:

Total Annuity Does Licensee Pass:

Trust Fund Balance:

Years Left in License Shortfall:

NO Real Rate of Return per year Years remaining after annuity

$94,891,967 Earnings Credit:

Step 4:

Datasheet 2 Signature: _Shawn Harwell Date: 7/13/2011 Secondary Signature: Jo Ann Simpson Date: 7/26/2011 Spreadsheet created by: Aaron Szabo, Shawn Harwell Formulas verified by: Clayton Pittiglio 8

20 2027 Year Annuity:

2011

$4,682,194 2%

$6,509,388 2012

$4,682,194 2%

$6,381,753 2013

$4,682,194 2%

$6,256,621 2014

$4,682,194 2%

$6,133,942 2015

$4,682,194 2%

$6,013,668 2016

$4,682,194 2%

$5,895,753 2017

$4,682,194 2%

$5,780,150 2018

$4,682,194 2%

$5,666,814 2019

$4,682,194 2%

$5,555,700 2020

$4,682,194 2%

$5,446,765 2021

$4,682,194 2%

$5,339,965 2022

$4,682,194 2%

$5,235,260 2023

$4,682,194 2%

$5,132,608 2024

$4,682,194 2%

$5,031,969 2025

$4,682,194 2%

$4,933,303 2026

$4,682,194 2%

$4,836,571 2027

$4,682,194 2%

$4,741,736 Total:

$94,891,967 ANNUITY Total Accumulation Termination of Operations:

Real Rate of Return:

Datasheet 2 Signature: _Shawn Harwell Date: 7/13/2011 Secondary Signature: Jo Ann Simpson Date: 7/26/2011 Spreadsheet created by: Aaron Szabo, Shawn Harwell Formulas verified by: Clayton Pittiglio 8

20 2027 ANNUITY Termination of Operations:

Year Annuity:

2011

$4,682,194 2.00%

$6,509,388 2012

$4,682,194 2.00%

$6,381,753 2013

$4,682,194 2.00%

$6,256,621 2014

$4,682,194 2.00%

$6,133,942 2015

$4,682,194 2.00%

$6,013,668 2016

$4,682,194 2.00%

$5,895,753 2017

$4,682,194 2.00%

$5,780,150 2018

$4,682,194 2.00%

$5,666,814 2019

$4,682,194 2.00%

$5,555,700 2020

$4,682,194 2.00%

$5,446,765 2021

$4,682,194 2.00%

$5,339,965 2022

$4,682,194 2.00%

$5,235,260 2023

$4,682,194 2.00%

$5,132,608 2024

$4,682,194 2.00%

$5,031,969 2025

$4,682,194 2.00%

$4,933,303 2026

$4,682,194 2.00%

$4,836,571 2027

$4,682,194 2.00%

$4,741,736 Total:

$94,891,967 If licensee is granted greater than 2% RRR Real Rate of Return:

Total Accumulation