NRC Fiddles Around as Reactor Decommissioning Funds Burn

From Beyond Nuclear

Background: The same day that the US stock market suffered its fourth largest point loss in market history and the economy was officially declared to be in a "recession," NRC called nuclear industry representatives into a meeting regarding the now evaporating decommissioning funds. Despite the fact that utilities are reporting between 10% to 29% losses from set-aside decommissioning funds over the past three months, the NRC politely asked that the nuclear industry "volunteer" additional information on invested decommissioning trust funds. In addition to reporting every two years on available funds accumulated to pay for radioactive cleanup once reactors close, NRC asked industry to volunteer information on the amount of money accumulated to pay for state clean-up costs, on-site nuclear waste management costs, whether such money is co-mingled with radiological decommissioning funds, and what amount of trust funds accumulated to pay state costs are available for radiological cleanup without prior state approval. The nuclear industry's legal firm, Winston and Strawn, was on hand to reject volunteering any more information and said if NRC wants it they should try to get it through a rulemaking. NRC said it had no intention of asking for a rule change.
The view from Beyond Nuclear: It ‘s time for increased mandatory oversight of these funds and binding upfront agreements that assure that nuclear power companies will make up for any cleanup fund shortfalls. It is not appropriate for NRC to wait two years between fund status reports. The State of Vermont, which still regulates its nuclear power station (Vermont Yankee), has increased reactor owner Entergy's fund reporting requirement to monthly. For reactor operators now protected behind so-called Limited Liability Corporations (LLC) with no real assets, the parent companies should be legally required to post bond to assure states and communities that shuttered nuclear power plants be fully decontaminated, dismantled and environmentally secured.