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UNITED STATES
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- NUCLEAR REGULATORY COMMISSION f'
WASHINGTON. D.C. 2006H001 1
January 3, 1996
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MEMORANDUM-TO:
Carl J. Paperiello, Director Office of Nuclear Material Safety and Safeguards William T. Russell, Director Office of Nuclear Reactor Regulation William J. Olmstead, Associate General Counsel for Licensing and Regulation' Office of the General Counsel FROM:
David L. Morrison, Director
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SUBJECT:
ADVANCE NOTICE OF PROPOSED RULEMAKING NUCLEAR POWER REACTOR DECOMMISSIONING FINANCIAL ASSURANCE IMPLEMENTATION REQUIREMENTS-Your review and concurrence is requested on the attached Cominission Paper which includes the advance notice of proposed rulemaking. entitled below.
1.
Title:
- Nuclear Power Reactor Decomissioning Financial Assurance Implementation Requirements-2.
RES Task Leader:
BriahJ. Richter (415-6221) 3.
Cognizant Individuals:
NRR Anthony W.- Markley (415-1169)
Robert S. Wood (415-1255)
NMES - Larry Bell (415-7302) t
-0GC - Bradley W. Jones (415-1628) 4.-
- Requested Action:
Review and coment 5.
Requested Completion Date: January 10, 1996
'6.
Sumary: This action has a rulemaking plan which was signed by the ED0
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and sent to the Comission on. September 1,1995 -(SECY-95-223).
In a briefing for the ED0'on November 13, 1995,' the EDO recommended that, because of the uncertainty associated with deregulation of the electric utility ' industry, this action should more appropriately have an Advance Notice of Proposed Rulemaking. This advance notice is being issued to invite public comment on issues pertaining to the form and content of the NRC's nuclear power electric utility decommissioning financial assurance requirements as they relate to electric utility deregulation.
Attachment:
Commission Paper w/att.
cc w/atts:
L.J. Norton, DIG R.M. Scroggins, OC 9710150124 971003 PDR PR 50 62FR47588 PDR
. January 3, 1996' MEMORANDUM TO:
Carl J. Paperiello, Director :
Office of Nuclear Material Safety and _ Safeguards Wtiliam T. Russell, Director Office of Nuclear Reactor-Regulation William ~J. Olmsteadi Associate General Counsel for
- Licensing and Regulation' Office of the General Counsel FROM:
David L. Morrison,- Director /s/ David L' Morrison Office of Nuclear Regulatory Research s-
SUBJECT:
ADVANCE NOTICE OF PROPOSED RULEMAKING -
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NUCLEAR POWER REACTOR DECOMISSIONING FINANCIAL ASSURANCE l
IMPLEMENTATION REQUIREMENTS-i
-Your review-and concurrence is requested on the attached Commission Paper which includes the advance notice of proposed rulemaking entitled below, l
l..
Title:
Nuclear Power Reactor Decommissioning Financial Assurance-l-
Implementation Requirements l-l
- 2. -
RES Task Leader: Brian J. Richter-(415-6221) 3.~
Cognizant Individuals:
NRR - Anthony W. Markley (415-1169)
Robert S. Wood (415-1255)
NMSS - Larry Bell (415-7302)
OGC - Bradley W. t'ones (415-1628) 4.
' Requested Action:. Review and comment
'5.
Requested Completion Date: January 10, 1996 16.
Summary: This-action has-a rulemaking plan which was signed by the EDO and sent to the Commission on. September 1, 1995'(SECY-95-223).
In a briefing for the EDO on November 13, 1995,. the EDO recommended that,
. because of the uncertainty associated with deregulation of the electric utility industry, this Lction should more appropriately have an Advance Notice of Proposed Rulemaking. This advance notice is being issued to invite public comment on issues pertaining to the form and content of the NRC's nuclear _ power electric utility decommissioning financial assurance requirements as they~ relate to electric-utility deregulation.
Attachment:
Commission Paper w/att.
ccw/atts:
L. J. Norton, OIG
.R. M. Scroggins, OC
-DISTRIBUTION:
.RDB/Subj/Rdg BMorris w/atts RAuluck AMarkley RWood LBell BJones DOCUMENT-NAME: 0:\\ RICHTER \\ANPR2\\ CONCUR LTo receive a copy.of this document, indicate in the box:
"C" - Copy without attachment / enclosure "E" - Copy with attachment /e0 closure "N" - No copy 0FFICE-RDB:DRA M2-L RDB:DRA k7,1 D:Dilpi$ES l
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?)FFICIAL (ECORD COPY _ _(RES File Code) RES
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I Connission Paper with Attachments
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4 FOR:
-The Commissioners 4 -
FROM:-
-James M. Taylor Executive Director for Operations L
S_UBJECTil ADVANCE NOTICE OF PROPOSED RULEMAKING - NUCLEAR POWER REACTOR i
DECOP911SSIONING FINANCIAL ASSURANCE IMPLEMENTATION
. REQUIREMENTS l
PURPOSE:
--To seek Comission approval to publish in the Federal Reaister an' advance-
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- notice of proposed rulemaking on Nuclear Power Reactor Decomissioning Financial Assurance Implementation Requirements.
BACKGRGUND:.
The staff is aware of the uncertainty that restructuring and deregulation of-the electric-power industry may have on the availability ~of' funds for
- decommissioning. Therefore, the-staff prepared a-rulemaking plan to -amend
- NRC's requirements pertaining to assuring availability.'of decomissioning funds, as-part of the staff's broader effort to update.NRC's financial-assurance requirements for the decomissioning of nuclear' power reactors.- In l
1 t order for the staff to have a better information base with which to work.in i preparing the proposed rule, the staff decided to seek Comission approval to first publish the attached advance notice of proposed rulemaking-(Attachment 1).-
1 DISCUSSION:-
I The staff submitted a rulemaking plan (Attachment 2) on Nuclear Power Reactor LDecomissioning Financial Assurance Implementation Requirements as
~Attachmeat~3 to SECY-95-223, September 1, 1995.
Subsequently, the staff CONTACT:
Brian J. Richter, RES (301) 415-6221 L
..The-Comi ssioners 2
4 decided that the action should first be~ published as an advance notice of proposed rulemaking (ANPR). This decision was based on the fact that the potential deregulation of the power generating industry has created uncertainty with respect to the availability of funds for.decommisrioning.
This uncertainty will likely require-a modification of the financial mechanisms that are presently required by-the NRC to provide decommissioning funds when needed.
Electric utilities, as defined in 10 CFR 50.2, are allowed to set aside funds annually over the estimated life of a reactor by collecting funds through ratepayers. With_the advent of electric industry restructuring and deregulation, a nuclear power licensee could lose its direct access to a rate base or source of funds to cover the unfunded balance of decommissioning-costs. To address this situation, the staff is considering revising the definition of " electric utility" and requiring periodic reports detailing the progress of decommissioning fund collections. The staff is also considering allowing' licensees the opportunity to take credit for earnings on their. trust funds during an extended safe storage period.
On De'cember 14, 1995, the Commission was briefed on electric utility industry 1
restructuring and deregulation. At the briefing, representatives of State and Federal agencies, industry, and the financial community ) resented their views on this issue. The opinion of the representatives was tlat the Commission should be careful to not pursue regulatory action too quickly because of the general uncertainty about restructuring and deregulation and because.a premature regulatory action may have a potentially harmful impact on the industry.
5 In order to obtain relevant.information on this topic, the staff is now seeking-permission to publish in the Federal Register the attached advance notice of proposed rulemaking (Attachment 1).
COORDINATION:
The Office of the General Counsel has no legal objection to this paper.
RECOMMENDATION:
That the Commission:
1.
Approve the Advance Notice of Proposed Rulemaking (ANPR) for publication (Attachment 1).
2.
Note:
a.
The ANPR would be published in the Federal Register for a 75-day public comment period; b.
A public announcement will be issued (Attachment 3);
-The Commissioners 3
c.
The appropriate-congressional committees will be informed (Attachment 4);.and-d.
Copies of the ANPR as published in the Federal Register will be distributed to all Commission power reactor licensees. The notice will be sent to other interested parties upon request.
James M. Taylor Executive Director for Operations Attachments:
1.
Federal Register Notice + disk 2.
Rulemaking P1an (Att 3-SECY-95-223 dtd 9/1/95)
- 3. ' Draft Public-Announcement 4._ _ Draft Congressional Letters 1
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Advanced Notice of Proposed Rulemaking I'
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NUCLEAR REGULATORY COPMISSION -
10..CFR 50.2, 50.75, and 60.82 RIN 3150-AF41 Financial Assurance Requirements -
for-Decomissioning Nuclear Power peactors -
t AGENCY: Nuclear Regulatory Comission.
ACTION: Advance notice of proposed rulemaking.
- o SUPMARY
- ; The NuclearLRegulatory Comission is considering amending its
< regulations relating to financial assurance requirements for the decomissioning of nuclear power. plants.
Potential-deregulation of-the power -
generating industry has created uncertainty with respect to.the availability _
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of decommissioning funds:and the financial. mechanisms required by the NRC will i
- 1ikely require a modification to provide decommissioning funds when needed.
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' Additionally, the NRC is considering requiring power reactor licensees to
- periodically report on the status' of their decomissioning funds. Allowing-credit for earnings on decomissioningctrust funds during extended storage b
will also be considered. This advance notice of-proposed rulemaking is issued P -
-to invite public coment on issues pertaining to the form and content of the T NRC's nuclear power _ reactor'decomissioning financial assurance requirements as,they relate.to electric utility deregulation.
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r DATE:.' Submit comments by' [ insert a date to allow:75 -days public comment)-
.-1996.- Comments received after-this date will be considered if Lithis practical-toLdo'so, but the Commission-is able to assure consideration only for coments received on or before-this date.
'r LADORESSES: Mail comments to: The Secretary of the Commission, U.S. Nuclear
. Regulatory Commission, Washington, DC 20555, Attention: Docketing and Service
. Branch.
Deliver comments to:- 11555 Rockville Pike, Rockville, Maryland,-between
- 7:45 a.m. and 4:15 p.m. Federal workdays.
' Comments may be" submitted electronically, in either ASCII text or
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Wordperfect format (version 5.1 or later), by callf r.g the NRC Electronic i
- Bulletin Board (BBS) on FedWorld. The bulletin board may be accessed-u' sing a c
. personal computer,- a mocem,' and one of the comonly available communications software. packages, or directly via Internet.
Bsckground documents on the I
adv,.:.ce notice of proposed rulemaking are also available, as practical, for Ldownloading and viewing on the bulletin _ board.
If using a personal; computer and-modem, the NRC rulemaking subsystem on
- FedWorld can be accessed direstly by dialing the toll free number
-(800) 303-9672. Communication software parameters should be set as follows:
F parity to none, data bits to 8, and stop bits to 1 (N,8,1). Using ANSI or 1
I VT-100 terminal emulation, the NRC rulemaking subsystem can then be accessed.
L by selecting the " Rules Menu" option from the "NRC Main Menu." Users will find-the "FedWorld Online User's Guides" particularly helpful. Many NRC
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subsystems and data bases also have a " Help /Information Center" option that is tailored to the particular subsystem.
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The NRC subsystem on FedWorld can also be accessed by a direct dial phone number for the main.FedWorld BBS, (703) 321-3339, or by using Telnet via Internet: fedworld. gov.
If using (703) 321-3339 to contact FedWorld, the NRC subsystem will be accessed'from the main FedWorld menu by selecting the.
" Regulatory, Government Administration and State Systents," then selecting
" Regulatory Information Mall." At that point, a menu will be displayed that has an option "U.S. Nuclear Regulatory Commission" that will take you to the NRC Online main menu. The NRC Online area also can be accessed directly by typing "/go nrc" at a FedWorld command line.
If you access NRC from FedWorld's main menu, you may return to FedWorld by selecting the " Return to FedWorld" option from the NRC Online Main Menu. However, if you access NRC at FedWorld by using NRC's toll-free number, you will have full acces.; to all NRC systems, but you will not have access to the main FedWorld system.
If you contact FedWorld using Telnet, you will see the NRC area and menus,-including the Rules Menu. Although you will be able to download documents and leave messages, you will not be able to write comments or upload files (comments).
If you contact FedWorld using FTP, all files can be accessed and downloaded but uploads are.not allowed; all you will see is a list of files without descriptions (normal Gopher look). An index file listing all files within a subdirectory, with descriptions, is available.
There is a 15-minute time limit for FTP access.
Although Fedk'orld also can be accessed through the World Wide Web, like FTP that mode.only provides access for downloading files and does not display the NRC Rules Menu.
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l For more information>on-NRC bulletin-boards call Mr. Arthur Davis, 3 Systems Integration and Development Branch, NRC, Washington, DC 20555,.
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telephone-(301);415-5780;e-mailAXD39nrc. gov.
l Examine copies of. comments' received at: The NRC Public Document Room,.
H 2 20 L Street NW (Lower Level), Washington, DC.
FOR FURTHER INFORMATION~ CONTACT:
Brian J. Richter, Office of Nuclear Regula-tory Research, U.S. Nuclear Regulatory Commission, Washington,-DC 20555,
. telephone (301) 425-6221, e'-mail bjrerirc. gov.
I SUPPLEMENTARY INFORMATION:
Background
Requirements pertaining to financial assurance for the decommissioning of nuclear-power reactors are contained in 10 CFR 50.75. Under l 50.75(e)(3),
the NRC allows power reactor licensees, who are defined as " electric
. utilities"2 under i 50.2,--to set aside funds annually over the -estimated life j
g, of the-reactor for decommissioning. The NRC provided more flexibility to its electric utility licensees than other licensees because electric utilities have existed in a highly structured environment regulated by State public
" Electric utility means any entity that generates-or distributes elec-tricity and which recovers the cost of this electricity, either directly or indirectly,- through rates established by the entity itself or by-a separate regulatory. authority.- Investor-owned utilities, including generation or i
distribution subsidiaries, public utility districts, municipalities, rural electric cooperatives, and State and Federal agencies,-including associations of any of the. foregoing, are included within the meaning of ' electric utili-ty.'"-
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. utility commissions 1(PUCs) or the Federal Energy Regulatory Commission-(FERC).
- l Under i 50.75(e)(2), the NRC requires licensees other than electric' utilities
.to-set-aside-an external sinking fund coupled with a surety method or insurance for any unfunded balance. However,' with the advent of deregulation, the distinction between electric utility licensees and other licensees will
'likely.be" reduced or eliminated. Thus, the NRC needs to clarify the difinition of " electric utility" and to require additional assurance of those p
licensees whose power reactor costs:are no longer regulated.
Typically, power: reactor licensees place decommissioning funds in external trust or escrow accounts that are reserved for decomissioning a
activities."
Under the definition of external sinking fund, power reactor L"
" licensees.must accumulate all the funds estimated to be needed for decommis-sioningbythetimetheirfacilitiesarepermanentlyshutdown. Although L
150.75(e) also allows power reactor _llcensees to use surety Sonds, letters of credit, and prepayment to provide funding assurance, virtually all power reactor licensees use the external sinking fund method of assurance.
The intent of i 50.75 is to _ provide reasonable assurance that funds for decommissioning will be available-when necessary..The inability of the licensee to provide funding for decommissioning may adversely affect-protection-.of public health and safety. Also, a lack of decomissioning funds Note: Many licensees that have established decomissioning. trust funds for their power reactors are making deposits into their trust: accounts both forz decommissioning costs as defined under i 50.2 and for other decomission-ing-associated costs such as. interim spent feel management and storage and-
" green field" costs.
The NRC all' ws licensees ~to deposit funds in the same o
trust account as long 'as the trust has ub-accounts that clearly-delineate the purposes of the sub-account. A trust or sub-account established to provide-assurance of NRC-defined decommissioning costs should be sti NRC-defined decomissioning costs before any other purpose. pulated to cover 5
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- x Lisf a financial risk to taxpa'yers-(i.e., if the_ licensee cannot pay for
.: decommissioning-. taxpayers would ultimately pay the bill).
--In a related issue, when the Commission issued the decommissioning rule,
.the Commission believed that,- for a regulated electric utility,-an external reserve account collected.over-the estimated remaining reactor life would-IL provide the necessary reasonable assurance. -However, as a conservatism built
-intoithe rule, the NRC decided not.to allow licensees to take credit for.
earnip;, on-their trust funds while their reactors were in extended safe
-storage. Rather, the NRC. assumed that during safe storage the rate of return on external. decommissioning trust funds vould equal the decommissioning cost-escalation rate.: Thus, the after-tax, after-inflation earnings rate ~
4 effectively would be zero.,
- When the NRC' promulgated the 1988 decommissioning rule, it did not require licensees to report periodically on the status of their-
- decommissioning funds. NRC viewed licensee compliance with the funding
~ assurance' requirements as'a matter to be determined;through the inspection.
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process when necessary.- Also,'the NRC recognized =in the 1988 decommissioning.
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l rule the PUCs' end FERC's authority to set annual contribution rates to:-
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. decommissioning funds and to establish investment and other mant.gement-
' criteria for the' funds. The PUCs and FERC.also actively monitor these decommissioning funds as part of their-rate regulatory responsibility.
Moreover, the Financial ~ Accounting Standards Board (FASB), a national orgarnization that sets accounting standards, recently-initiated a review of reporting of decommissioning obligations on electric util'ity financial statements. Although FASB has not' established a final standard, it appears that it will increase the level of detail on power reactor licensees' 6
4 financial statements.
If adopted,- this standard would likely give the NRC and others additional information on the status of decommissioning funds.
4 However, the advent of deregulation, and consequently less oversight by FERC or by PVCS, makes it imperative that the NRC have a source of information to i
monitor the status of decommissioning funds.
Specific Proposal The Commission is considcring amending 10 CFR 50.2, 50.75, and 50.82 to require that electric utility reactor licensees provide assurance that the full estimated cost of decommissioning will be available through an acceptable guarantee mechanism if the licensees are no longer subject to rate regulation by PUCs or FERC, and do not have'a guaranteed source of income.
The amendment would also allow licensees to collect decommissioning funds during the safe storage period and allow licensees to assume a positive real rate of return on decommissioning funds during the safe storage period.
Lastly, a periodic reporting requirement would be established.
Specific Considerations Advice and recommendaticns on a proposed rule reflecting the foregoing
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and_any other points considered pertinent are invited from all interested persons.
Comments and supporting reasons are particularly requested on the
- following questions arranged by topic:
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3 A. Timina and Extent of Electric Utility Industry Dereaulation.
g 2 A.I.
What-is1theilikely timetable for industry restructuring and-
._ deregulation? -
A.2.
Will the-electric utility industry go through several phases as it responds to' deregulation-and other competitive pressures? If so, what_will be theilikely major changes-in business structure that may occur in each phase?-
Will rates remain.regu1'ated-at the _ retail-distribution level, with-Ederegulation~ occurring for ge'neration and transmission? -Will retail wheeling become widespread and lead to deregulation of all sectors of the electric g
' utility industry? Or wil.1 rates remain regulated at the retail distribution-L
- slevel,L.with deregulation occurring within.the generation and transmission I
sectorA?. What will. likely be the final structure of the electric utility industry, assuming either. partial or full deregulation?
i A.3.
Some states appear _to oppose deregulation. Will they be able to L
. maintain their opposition if neighboring states deregulate? What will'be the' industry structure'if_'some' states deregulate more than.others? Can a " hybrid" h
system exist effectively?-
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- 8. Power System Reliability p
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B.1.. The current regulated structure of the electric utility industry
$ has;provided-benefits that have resulted in a' reliable and stable power grid.
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i What. measures will likely be: undertaken to maintain this reliability in terms i
_of reserve margins, spinning reserves, load factor compensation, unanticipated 1
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l load changes, diversity of fuel sources, and potential fuel supply interruptions?
i B.2.
Are there any technical challenges, such as coordinated load dispatching, optimithtion of generation', and real-time management of varying transmission and distribution tariffs, that may slow or otherwise impede deregulationt Will deregulation alter the reliability and quality of service?
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l C. Stranded Costs
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I C.1.
How will restructuring affect-large baseload plants that currently i
receive rate relief to cover construction costs or have a portion yet to-be phased into the rate base? Specifically, what is the probability that and degree to which these costs will be recoverable should a nuclear power plant La deemed to be non-competitive because of high construct. ion costs? What will be the source of operating, maintenance, and capital' improvement funds should such a nuclear generator decide-to continue operations? What will be the source of funds to prematurely and safely shut down an uneconen.ic plant? Are transmission access or other surcharges to cover stranded costs likely?
D. Nuclear Financial Qualifications at d Decommissionino Fundina Asaurance D.I.
If nuclear plants are shut down prematurely, how will licensees who can no longer pass costs. through to ratepayers provide for a shortfall of decommissioning funds?
D.2.
At what point does an operator of a nuclear power plant cease to be a " utility" as defined in 10 CFR 50.2 of the NRC's regulations?
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D.3.
If an electric-utility reorganizes itself, including divesting parts of itself, so that the remaining entity operating a reactor is no longer regulat9d by a rate-setting State or Federal body, or will cease to be regulated by a rate-setting State or Federal body if the reactor ceases operation, would it be appropriate to require financial assurance for the decomissioning costs in full prior to NRC approval of such reorganizations?
Such assurance could take the form of self-guarantee, parent company cuarantee, certification by the rate-regulating entity, or other financial surety mechanism to cover the unfunded decomissioning costs.
Should the NRC require additional assurance for adequate funds for safe operation and decomissioning in anticipation of deregulation? Should the NRC require, as a j
condition of approval of certain reorganizations involving the transfer of control of a nuclear power plant, that newly created organizations or holding 3
companies sign a binding agreement that holds them jointly liable for decomissioning costs associated with that nuclear power plant? What would be the impact of such actions?
D.4.
Should the NRC require a licensee to provide a reasonable assurar:e of the availability of funds for decomissioning by imposing a minimum level of net worth, cash flow, or other financial measure (similar to 10 CFR Part 30, Appendices A and B)?
If below the minimum levels, the licensee would no longer be allowed to accumulate decomissioning costs over remaining facility life, but would need a guarantee that funds would be available for decomissioning through various financial measures. What financial measures would be effective and reasonable?
D.S.
Would PUCs and FERC be willing to certify that licensees under their jurisdict'ons, both electric utility and Part 50 licensees other than 10
electric utility would be allowed to collect sufficient revenues through rates to complete decomissioning funding?
D.6.
What would be the impact if the NRC required licensees to accelerate collection of decomissioning funds such that decomissioning funding for all plants would be complete within 10 years (or some other time period)?
D.7.
Assume that licensees have accumulated funds that are determined to be adequate based on current estimates of decomissioning costs.
If these estimates turn out to be low far in the future (for example, if final dismantlement occurs after a 50 year safe storage period), how will underfunding be remedied? What measures should the NRC consider for obtaining assurance of funds for such situations? Should the NRC require larger contingency factors in estimates to cover such situations?
D.8.
Would it be fetsible for the nuclear industry to develop a captive insurance pool to pay for decomissioning funding shortfalls that result from premature decomissioning? Could such a pool be structured similarly to Nuclear Hutual Limited (NHL) and Nuclear Electric Insurknce Limited (NEIL),
who currently insure on-site property damage and replacement power of member utilitics?
D.9.
If PUC or FERC oversight is either substantially limited or eliminated, are there any other options for financial assurance of decommissioning tLat the NRC should consider?
The preliminary views expressed in this notice may change in light of coments received.
In any case, there will be another opportunity for additional public comment in connection with any proposed rule that may be developed by the Comission.
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i PART 50 - DOMESTIC LICENSING OF PRODUCTION AND UTILIZATION FACILITIES The authority citation for Part 50 continues to read as follows:
AUTHORITY: Secs. 102, 103, 104, 105, 161, 182, 183, 186, 189, 68 Stat.
936, 937, 938, 948, 953, 954, 955, 956, as amended, sec. 234, 83 Stat. 1244, as amended (42 U.S.C. 2132, ?l33, 2134, 2135, 2201, 2232, 2233, 2236, 2239, 2282); secs. 201, as amended, 202, 206, 88 Stat. 1242, as amended, 1244, 1246 (42 U.S.C. 5841, 5E42, 5846).
Section 50.7 also issued under Pub. L.95-601, sec. 10, 92 Stat. 2951 as amended by Pub. L. 102-486, sec. 2902, 106 Stat 3123, (42 U.S.C. 5851).
Section 50.10 also issued under secs. 101, 185, 68 Stat.
936, 955, as amended (42 U.S.C. 2131, 2235); sec. 102, Pub. L.91-190, 83 Stat. 853 (42 U.S.C. 4332). Sections 50.13, 50.54(dd), and 50.103 also issued under sec. 108, 68 Stat. 939. as amended (42 U.S.C. 2138).
Sections 50.23, 50.35, 50.55, and 50.56 also issued under sec. 185, 68 Stat. 955 (42 U.S.C.
2235). Sections 50.33a, 50.55a and Appendix Q also issued under sec. 102, Pub.
L.91-190, 83 Stat. 853 (42 U.S.C. 4332). Sections 50.34 and 50.54 also issued under sec. 204, 88 Stat. 1245 (42 U.S.C. 5844). Sections 50.58, 50.91, and 50.92 also issued under Pub. L.97-415, 96 Stat. 2073 (42 U.S.C. 2239).
Section 50.78 also issued under sec.122, 68 Stat. 939 (42 U.S.C. 2152).
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i Sections 50.80 - 50.81' also issued urider sec. 184, 68 Stat. 954, as amended' I
(42U.S.C.2234). Appendix F also issued under sec. 187, 68 Stat. 955 (42 U.S.C2237).
Dated at Rockville, Maryland, this day of
, 1996.
For the Nuclear Regulatory Commission.
John C. Hoyle, Secretary of the Commission, t
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Public Announcement I
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t DRAFT PUBLIC ANN 0sNCEMENT NOTICE OF INTENT TO AMEND REGULATIONS RELATING TO FINANCIAL ASSURANCE REQUIREMENTS FOR THE DECOMMISSIONING OF NUCLEAR POWER PLANTS The Nuclear Regulatory Commission has issted ar. Advance Notice of Proposed Rulemaking (ANPR) on the Nuclear Power Reactor Decommissioning financial Assurance implementation Requirements.
The impact of deregulation of the power generating industry has created uncertainty with respect to the availabi'ity of decommissioning funds and will likely require a modification of the finanadal mechanisms required by the NRC to provide decommissioning funds when needed. Additionally, the NRC is considering requiring power reactor licensees to report periodically on the status of their decommissioning funds and allowing credit for earnings on decommissioning trust funds during extended storage. The advance notice of proposed rulemaking was issued to invite public comment or, issues pertaining to the form and content of the NRC's nuclear power reactor decommissioning i
financial assurance requirements as they relate to electric utility deregulation.
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Congressional Letters
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The Honorable Dan Schaefer, Chairman Subcommittee on Energy and Power Committee on Commerce United States House of Representatives Washington, DC 20515
Dear Mr. Chairman:
Enclosed for the information of the Subcommittee is a copy of the advance notice of proposed rulemaking on Nuclear Power Reactor Decommissioning Financial Assurance Implementation Requirements that the NRC intends to pubitsh shortly in the Federal Eg!11 ster.
This adonce notice is being issued to invite public comment on issues pertaining to the form and content of the NRC's nuclear power electric decommissioning financial assurance requirements as they relate to electric utility deregulation in 10 CFR 50.2, 50.75, and 50.82.
j Sincerely, Dennis K. Rathbun, Director Office of Congressional Affairs
Enclosure:
Federal Register Notice cc: Representative Frank Pallone 0
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NUCLEAR REGULATURY COMMISSION t
W ASHINGTON, o C. POMa$t k...../
s The Honorable Lauch Faircloth, Chairman Subcomittee on Clean Air, Wetlands, Private Property and Nuclear Safety
- Comittee on Environment and Public Works United States Senate Washington, DC 20510
Dear Mr. Chairman:
Enclosed for the information of the Subcomittee is a copy of the advance notice of proposed rulemaking on Nuclear Power Reactor Decomissioning Financial Assurance implementation Requirements that the NRC intends to publith shortly in the Federal Reaister.
This advance notice is being issued to invite public coment on issues pertaining to the form and content of the NRC's nuclear power electric decomissioning financial assurance requirements as they relate to electric utility deregulation in 10 CFR 50.2, 50.75, and 50.82.
Sincerely, Dennis K. Rathbun, Director Office of Congressional Affairs
Enclosure:
Federal Register Notice cc: Senator Bob Graham s
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T Advanced Notice of Proposed Rulemaking 1
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