BVY 25-029, Documentary Evidence of Performance Bond
| ML25315A009 | |
| Person / Time | |
|---|---|
| Site: | Vermont Yankee File:NorthStar Vermont Yankee icon.png |
| Issue date: | 11/11/2025 |
| From: | Reid B NorthStar Vermont Yankee |
| To: | Office of Nuclear Material Safety and Safeguards, Office of Nuclear Reactor Regulation, Document Control Desk |
| References | |
| BVY 25-029 | |
| Download: ML25315A009 (1) | |
Text
Billy E. Reid, Jr.
Site Vice President 10 CFR 50.80 10 CFR 72.50 BVY 25-029 November 11, 2025 ATTN: Document Control Desk U.S. Nuclear Regulatory Commission Washington, DC 20555-0001
SUBJECT:
Documentary Evidence of Performance Bond Vermont Yankee Nuclear Power Station Docket Nos. 50-271 and 72-59 License No. DPR-28
REFERENCE:
Letter, USNRC to Entergy Nuclear Operations, Inc., Order Approving Transfer of the License for the Vermont Yankee Nuclear Power Station and Conforming License Amendment (EPID# L-2017-LLM-0002), dated October 11, 2018 (ML18242A638)
Dear Sir or Madam:
By letter dated October 11, 2018 (Reference), the USNRC transmitted an Order that provided consent to the direct and indirect transfer of the Vermont Yankee (VY) license from Entergy Nuclear Operations, Inc. and Entergy Nuclear Vermont Yankee, to NorthStar Nuclear Decommissioning Company, LLC (NDC). The third of the three conditions of the Order state the following:
Performance Bond NorthStar Vermont Yankee, LLC shall obtain a performance bond if a Settlement Agreement with the U.S. Department of Energy (DOE), on DOE reimbursements for spent fuel management expenses, is not entered into by January 1, 2022. The performance bond will be effective January 1, 2022, initially in the amount of $4.3 million, and it will be renewed annually. This amount covers the annual amount of Independent Spent Fuel Storage Installation (ISFSI) operation and maintenance (O&M) costs projected for 2022-2024. If a settlement is not reached by January 1, 2024, this amount will be increased to $9.3 million, which covers the annual amount of ISFSI O&M costs projected for years after 2024.
In accordance with the subject condition of the Order, NorthStar Vermont Yankee hereby submits documentary evidence that a performance bond in the amount of $9.3 million has been obtained, effective December 20, 2025. Documentary evidence of the performance bond is contained in the Attachment to this letter.
NorthStar Vermont Yankee, LLC Vermont Yankee Nuclear Power Station 320 Governor Hunt Rd.
Vernon, VT 05354 802-451-5354
BVY 25-029 / Page 2 of 2 This letter contains no new regulatory commitments.
Should you have any questions concerning this letter or require additional information, please contact Mr. Thomas B. Silko at 802-451-5354, Ext 2506.
Sincerely, BER/tbs
Attachment:
Documentary Evidence of Performance Bond cc: Director, Office of Material Safety and Safeguards U.S. Nuclear Regulatory Commission Washington, DC 20555 Regional Administrator, Region 1 U.S. Nuclear Regulatory Commission 475 Allendale Rd, Suite 102 King of Prussia, PA 19406 Commissioner Vermont Department of Public Service 112 State Street - Drawer 20 Montpelier, Vermont 05602-2601
BVY 25-029 Docket Nos. 50-271 and 72-59 Attachment Vermont Yankee Nuclear Power Station Documentary Evidence of Performance Bond (2 pages excluding this cover sheet)
CONTINUATION CERTIFICATE The Everest Reinsurance Company (hereinafter called the Surety) hereby continues in force its Bond No. ES00010335 in the sum of Nine Million Three Hundred Thousand Dollars and 00/100 ($9,300,000.00) Dollars, on behalf of Northstar Nuclear Decommissioning Company, LLC in favor of Northstar Vermont Yankee, LLC for Annual Amount of Independent Spent Fuel Storage Installation (ISFSI) security, operation and maintenance (O&M) - License No.
DPR-28 subject to all the conditions and terms thereof through 19th Day of December, 2026 at location of risk.
This Continuation is executed upon the express condition that the Surety's liability shall not be cumulative and shall be limited at all times by the amount of the penalty stated in the bond.
IN WITNESS WHEREOF, the Surety has caused this instrument to be signed by its duly authorized Attorney-in-Fact and its corporate seal to be hereto affixed this 15th Day of October, 2025.
Everest Reinsurance Company Surety i/J z*
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BY:
O('J!J ':
e Kath
"'erine Acosta, Attorney-in-Fact -
BVY 25-029 / Attachment / Page 1 of 2
BVY 25-029 / Attachment / Page 2 of 2 1J.. everest*.*
POWER OF ATTORNEY EVEREST REINSURANCE COMPANY and EVEREST NATIONAL INSURANCE COMPANY KNOW ALL PERSONS BY THESE PRESENTS: That Everest Reinsurance Company and Everest National Insurance company, corporations of the State of Delaware ("Company") having their principal offices located at 100 Everest Way, warren Corporate Center. Warren. New Jersey. 07059, do hereby nominate.
constitute. and appoint: Katherine Acosta 80nd No.:
ES00010335 Principal: NorthStar Nuclear Decommissioning Company, LLC Obligce: NorthStar Vermont Yankee, LLC its true and lawful Attorney(s)-in-fact to make. execute. attest. seal and deliver for and on its behalf, as surety. and as its act and deed, where required, any and all bonds and undertakings in the nature thereof, for the penal sum of no one of which is in any event to exceed UNLIMITED, reserving for itself the full power of substitution and revocation.
Such bonds and undertakings, when duly executed by tne aforesaid Attorney(s)-in-fact shall be binding upon the Company as fully and to the same extent as if such bonds and undertakings were signed by the President and secretary of the Company and sealed with its corporate seal.
This Power of Attorney is granted and is signed by facsimile under and by the authority of the following Resolutions adopted by the Board of Directors of Company ("Board") on April 21. 2016:
RESOLVED. C11at me President, any Executive Vice President. and any Semor Vice President are /Jereby appointed by the Board as authonzed to make, execute. sea/ and deliver for and on behalf of tne Company, any and all bonds, undertakings, contracts or obligations m surety or co-surety with otners a,1d that the Secretary or any Assistant Secretary of tile Company be and tl1at each of them hereby is authorized to attest to tile execution of any suc/1 bonds, undertakings, contracts or obligations m surety or co-surety and attach thereto t/Je corporate seat of the Company.
RESOLVED, FURTHER, t/Jat tile President. any Executive Vice Preside Ill, and any senior Vice President are hereby au//Jorlzed to execute powers of attorney qualifying the attorney named in Ille given power of attorney to execute, on behalf of the Company, bonds and undertakings in surety or co-surety with otners. and t/Jat tile secretary or any Assistant Secretary of the company /Je. and that each of tnem 1s /Jere by authorized to attest tile execution of any suc/1 power of attorney, and to attacll ll1ereto the corporate seal of t11e Company_
RESOLVED, FURTHER_. that tile signature of such officers named in tile preceding resolutions and the corporate seal of tile Company may oe affixed to such powers of attorney or to any certificate relating thereto by facsimile, and any such power or attorney or certificate bearing sucil facsimile signatures or facsimile seal shall be thereafter valid and /Jindillg upoll tile Company with respect to any bond. undertaking, contract or obligation in surety or co-surety with others to which it is attached.
IN WITNESS WHEREOF, Everest Reinsurance Company and Everest National Insurance Company have caused their corporate seals to be affixed hereto, and these presents to be signed by their duly authOrized officers this 22nd day of March 2023.
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197 Everest Reinsurance Company and Everest National Insurance Company By: Anthony Romano, Senior Vice President on this 22nd of March 2023, before me personally came Anthony Romano, known to me, who. being duly sworn. did execute the above instrument. that he knows the seal of said Company; that the seal affixed to the aforesaid instrument is such corporate seal and was affixed thereto; and that he executed said instrument by like order.
LINDA ROBINS Notary Public, State of New York No 01 R062397J6 Qualified in Queens County Term Expires April 25, 2027 Linda Robins, Notary Public 1, Sylvia semerdjian, Assistant secretary of Everest Reinsurance company and Everest National Insurance Company do hereby certify that I have compared c;uran
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SEAL 1971
°!<AWA¢ ES00010416 the foregoing copy of the Power of Attorney and affidavit. and the copy of the section of the bylaws and resolutions of said Corporation as set forth in said Power of Attorney. with the ORIGINALS ON FILE IN THE HOME OFFICE OF SAID CORPORATION. and that the same are correct transcripts thereof. and of the whole of the said originals, and that the said Power of Attorney has not been revoked and is now in full force and effect.IN WITNESS WHEREOF. I have hereunto set my hand and affixed the seal of said Company. this 15th day of October 2025.
By: Sylvia Semerdjian, Assistant Secretary