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B-207463 1 (1984-12-27)

handle is hein.gao/gaobabknc0001 and id is 1 raw text is: COMPTROLLER GENERAL OF THE UNITED STATES WASHINGTON D.C. 20548 B-207463 December 27, 1984 The Honorable Richard L. Ottinger Chairman, Subcommittee on Energy, Conservation and Power Committee on Energy and Commerce 126052 House of Representatives Dear Mr. Chairman: This is in response to your joint request of May 11, 1984, along with Chairman John D. Dingell, House Committee on Energy and Commerce for our opinion on several questions related to the Department of Energy's (Energy) new Utility Services Contract for uranium enrichment services. Specifically, you asked: 1. What obligations have been and will be incurred by the Government as a result of the issuance of the Utility Ser- vices Contract and by any further execution of the contract? 2. What is the legality and propriety of the Depart- ment's actions with regard to the unilateral establishment of a ceiling price and implementation of accounting changes? 3. Is it within generally accepted accounting principles and/or the statutory requirements governing this program to: (a) write off approximately $1.2 billion of Government investment in enrichment equipment, and (b) to defer the recapture of deprecia- tion expenses to an unspecified future date? In addition, you subsequently informally asked that we include in our discussion (1) Energy's revaluation of its uranium feed stock from market price to acquisition cost and (2) whether any of Energy's foregoing actions were subject to the provisions of the Administrative Procedure Act. We requested Energy's comments on these questions, and have taken their responses into consideration in formulating our answers. After carefully researching and analyzing the issues you posed, we have very serious concerns about the actions Energy has taken associated With its new Utility Services Contract, both substantively and procedurally. Before providing the results of our research and analysis, it is important to set

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