AN INDEPENDENT COST ASSESSMENT OF THE NATION'S HIGH-LEVEL NUCLEAR WASTE PROGRAM

 
February
1998

By          
 
PLANNING INFORMATION CORPORATION
THOMPSON PROFESSIONAL GROUP
DECISION RESEARCH INSTITUTE

 

PEER REVIEW
KPMG Peat Marwick LLP
725 South Figueroa Street
Los Angeles, CA 90017

April 23, 1998

Mr. Robert R. Loux
Executive Director
Nevada Agency for Nuclear Projects
1802 N. Carson Street, Suite 252
Carson City, Nevada 89701

Re:   Peer Review of "An Independent Cost Assessment of the Nation's
High-Level Nuclear Waste Program". February 1998

Dear Mr. Loux:

Pursuant to your request, KPMG Peat Marwick LLP ("KPMG") has completed its review of "An Independent Cost Assessment of the Nations's High Level Nuclear Waste Program", February 1998 ("Study"), prepared by Planning Information Corporation, Thompson Professional Group and Decision Research Institute, and hereby submits this summary letter describing work performed and conclusions reached.

KPMG was retained to provide the agreed upon procedures of "Peer Review" of the Study, pursuant to the engagement letter dated June 4, 1997. Of the limited tasks set forth below, the calculations tested were found to be accurate, the Study's assumptions appear to be supportable, and KMPG's peer review is complete.

The agreed upon procedures which constitute the peer review include the following:

a.     Review the reasonableness of Study assumptions
b. Review the cost categories and cost components for completeness
c. Review the supporting documentation
d. Test selected mathematical calculations for accuracy
e. Review the Study for internal consistency
f. Review the Study for overall consistency

To complete the above described agreed upon procedures, KPMG performed certain tasks including the following:

1.     Detailed Review of Study
2. Site visits and interviews with authors of various Study components including:
Planning Information Corporation, Thompson Professional Group and Decision Research Institute
3. Verify calculations/assumptions in narrative and charts to underlying data
4. Verify assumptions/citations in narrative to source documents (i.e. DOE Reports)
5. Review literature and supporting materials outside the body of the Study

The procedures performed do not constitute an audit, examination or review in accordance with standards established by the American Institute of Certified Public Accountants and therefore, we do not make any representations regarding the sufficiency of the procedures performed for your informational needs. The term "review" has a defined meaning in U.S. accounting and auditing literature; however, the term "review" as used in this letter is intended to refer to obtaining and analyzing information, and does not encompass the term or scope of engagement defined in the accounting and auditing literature.

Should you have and questions or comments regarding KPMG's completion of these services, please call me at (213) 955-8994.

Sincerely,

KPMG Peat Marwick LLP

Joseph S. D'Antoni
Principal


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