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EMD-82-131 1 (1982-09-23)

handle is hein.gao/gaobabmps0001 and id is 1 raw text is: UNITED STATES GENERAL ACCOUNTING OFFICE WASHINGTON, D.C. 2054 CHMEOY AND MINKERAB DIVISION September 23, 1982 B-164105 The Honorable John D. Dingell Chairman, Subcommittee on Oversight and Investigations 119621 Committee on Energy and Commerce House of Representatives Dear Mr. Chairman: Subject: Interim Report on GAO's Review of the Total Cost Estimate for the Clinch River Breeder Reactor Project (GAO/EMD-82-131) On April 28, 1982, you requested that we analyze the most current cost estimate for designing, constructing, and operating the Clinch River Breeder Reactor (CRBR). You requested that we include such factors as inflation rates, offsets, contingencies, and plutonium costs. Our analysis should be completed within the next few months. On August 31, 1982, you requested that we provide you with an interim report on our work. This report is in response to that request. At your request, in order to provide the information you need on a timely basis, we did not obtain the Department of Energy's (DOE's) comments on this interim report. Information developed during the remainder of our analysis may, or may not, verify our preliminary findings. In addition, as discussed with your office, all financial information contained in this report is based on current dollars 1/ and our review included the costs included by DOE in the CRBR project cost estimate as well as other related costs incurred by the Government. The following sections discuss (1) the process used by the DOE to estimate CRBR project costs; (2) the inflation allowance used in DOE's cost estimate, which could overstate CRBR costs; (3) the cost of plutonium, revenue projections, and contingency allow- ances, which may understate the total cost estimate; and (4) sev- eral items which are not included in the cost estimate but which, in our view, either will or could result in cost to the Government. 1/The dollar value of a good or service in terms of prices current at the time the good or service is bought or sold. This is in contrast to the value of the good or service inconstant dollars. r, ')_ (305182)

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