Decommissioning

Rutland Herald     Aug. 20, 2009

Entergy: Yankee shortfall less short

By Susan Smallheer STAFF WRITER

BRATTLEBORO — Entergy Nuclear has claimed the $87 million gap between what it has saved for the decommissioning of Vermont Yankee and what it needs to do the job has shrunk to $58 million.

In a filing with the Nuclear Regulatory Commission, the owner of the Vernon reactor said it would provide federal regulators with an unspecified "financial assurance mechanism" later this year to prove it was good for the money.

By ANDREW MIGA (AP) 

BETHESDA, Md. — Federal regulators said Thursday they hope to resolve funding shortfalls with the owners of 26 nuclear plants, who aren't saving enough money to dismantle them when they've run their course.

Nuclear Regulatory Commission officials are reviewing action plans owners were asked to submit, explaining how they'd address funding shortfalls for shutting down reactors. NRC officials in June notified owners of the shortfalls, caused in part by the nation's financial meltdown.

By Marlene Lang 

Think you are the only one who can't manage to set aside a nest egg? Don't feel lonely. Your neighborhood nuclear power plant may be busily creating a remedial savings plan of its own. 

Twenty-six plants nationwide showed shortfalls in the funds they are required by federal law to set aside for dismantling the reactors someday and cleaning up after themselves. The closely watched Three Mile Island plant was not on the shortfall list. 

Every year the Nuclear Regulatory Commission checks on the state of so-called "decommissioning funds." Most years there are only a handful of plants running short of having those estimated costs laid up, usually four or five one official said. Those billions set aside for close-down and clean-up don't just pile up under a mattress, of course; the money is invested in the stock market. According to an Associated Press report, some $4.4 billion in decommissioning funds was lost in the downturn, even as the actual costs for shutting down plants has risen by $4.6 billion because of (I love this part) rising energy costs – and labor costs. 

By Ad Crable

Staff Writer, Lancaster New Era

The economic downturn has caused funds set aside for the safe closure of the Three Mile Island and Peach Bottom nuclear plants to drop dramatically in the last two years.

Since 2007, estimates of dismantling costs at the nation's 104 nuclear plants have risen by more than $4.6 billion while the investment funds that are supposed to pay for the closures — or decommissioning as it's called — have dropped $4.4 billion, according to an investigation by the Associated Press.

According to decommissioning fund statements filed by Exelon Corp., owners of the two plants, the balance in the closure fund for Three Mile Island's Unit 1 dropped $69 million from 2007 to 2009.

For Peach Bottom, decommissioning funds dropped $64 million over the last two years for Unit 2 and nearly $70 million for the Unit 3 reactor.

The fund losses are tied to investments.

Is it a cause for concern?