LIC-24-0005, Annual Decommissioning Funding / Irradiated Fuel Management Status Report
| ML24067A209 | |
| Person / Time | |
|---|---|
| Site: | Fort Calhoun  |
| Issue date: | 03/01/2024 |
| From: | Uehling T Omaha Public Power District |
| To: | Office of Nuclear Material Safety and Safeguards, Office of Nuclear Reactor Regulation, Document Control Desk |
| References | |
| LIC-24-0005 | |
| Download: ML24067A209 (1) | |
Text
U.S. Nuclear Regulatory Commission LIC-24-0005 ENCLOSURE 1 OMAHA PUBLIC POWER DISTRICT FORT CALHOUN STATION UNIT NO.1 2024 ANNUAL DECOMMISSIONING FUNDING STATUS REPORT As of December 31, 2023
U.S. Nuclear Regulatory Commission LIC-24-0005, Attachment A Page 2 OMAHA PUBLIC POWER DISTRICT FORT CALHOUN STATION UNIT NO. 1 2023 ANNUAL DECOMMISSIONING FUNDING STATUS REPORT as of December 31, 2023 10 CFR 50.75 (f) and 50.82(8)
As required by 10 CFR 50.75 (f) and 50.82(8), OPPD reports the following information:
A. Current Decommissioning Cost Estimate As required by 10 CFR 50.82, OPPD completed a site-specific Decommissioning Cost Estimate (DCE),
contracting with Energy Solutions LLC for the preparation of the report. The study was performed under the DECON decommissioning alternative method. Based on the DCE (completed in 2023), the total estimated cost to decommission Fort Calhoun Station Unit No. 1 is $575,357,701 in 2023 dollars. Of that total cost estimate, the current site-specific cost estimate for license termination expenses (LTE) of Fort Calhoun Station Unit No. 1 is $236,389,903, the current separate estimate of site restoration is
$18,064,182, and the current separate estimate of spent fuel management costs is $320,903,616.
The total cost estimate reported in 2018 dollars was $1,213,203,000 in the DCE, using the SAFSTOR decommissioning alternative method as required by 10 CFR 50.82(a)(8)(iii) (reference 1). The cost estimate included monies anticipated to be spent for operating license termination (radiological remediation), interim spent fuel storage and site restoration activities.
B. Current Decommissioning Fund Balance The total OPPD Decommissioning Fund(s) balance as of December 31, 2023 was $479,998,868. OPPD maintains two separate trust accounts, one for the NRC minimum decommissioning amount as outlined in 10 CFR 50.75 (c) and one for other costs including additional radiological, site restoration and spent fuel management as determined by the consultant cost study. As of December 31, 2023, the balance in the fund for the NRC minimum decommissioning amount was $93,764,749. As of December 31, 2023, the balance in the funds accumulated for other decommissioning costs was $386,234,119.
The two trust funds are not commingled, and the funds accumulated for the additional decommissioning cost are not included as funds for the NRC minimum decommissioning amount. The funds accumulated for the additional decommissioning costs including additional radiological, site restoration and spent fuel management are available for radiological decommissioning without prior approval by a State regulatory authority and are not subject to disapproval for radiological decommissioning by a State regulatory authority.
C. Annual Decommissioning Collections The annual collections for 2022 and 2023 were $207,567,262, and $30,670,233, respectively. The total expected future collections for decommissioning are $62,497,009 beginning in 2024 as shown in Attachment B, Column 1. Financial assurance for required funding is OPPD cost of electric service ratemaking and other District revenues.
D. Rates Used to Escalate Decommissioning Costs and Fund Balances
U.S. Nuclear Regulatory Commission LIC-24-0005, Attachment A Page 3 The rates used for the escalation of the site-specific DCE and earnings rates on the Decommissioning Fund through the completion of decommissioning are shown in Attachment C. Congressional Budget Office data provided the basis for the DCE inflation rate forecasts. Decommissioning costs are inflated using a blending of the Congressional Budget Offices forecasts for Consumer Price Index, All-Urban and Employment Cost Index, Total Private Compensation. Decommissioning trust earnings are projected using Barclays forecasted yield on 2-year Treasury notes.
E. Contracts to Help Fund Decommissioning OPPD does not have any contracts pursuant to 10 CFR 50.75 (e)(1)(ii)(C) and is not relying on contracts with a non-bypassable charge to fund decommissioning.
F. Modifications to Method of Providing Financial Assurance There have been no modifications to OPPDs method of providing financial assurance since the decommissioning funding plan began in 1982 and continued pursuant to NRC Regulations in 1990.
References:
- 1. Letter from OPPD (M. J. Fisher) to USNRC (Document Control Desk), Fort Calhoun Station, Unit No. 1, Post-Shutdown Decommissioning Activities Report, dated March 31, 2017 (LIC 17 0033)
- 2. Letter from OPPD (M. J. Fisher) to USNRC (Document Control Desk), Fort Calhoun Station Irradiated Fuel Management Plan, dated March 31. 2017 (LIC-17-0031) (ML17093A594)
U.S. Nuclear Regulatory Commission LIC-24-0005, Attachment A Page 1 Year Type of Trust Fund Balance 2023 Decommissioning Trust '90 Plan 93,764,749 2023 Decommissioning Suppl '92 Plan 386,234,119 479,998,868 Year Decom Expenditures Spent Fuel Total 2016 574,826 574,826 2017 115,251,711 4,475,227 119,726,938 2018 83,845,046 30,408,102 114,253,148 2019 72,491,721 17,382,073 89,873,794 2020 109,969,342 39,221,912 149,191,254 2020 Cost in 2020 Dollars 2021 131,052,781 7,855,094 138,907,875 2021 Cost in 2021 Dollars 2022 138,050,637 9,667,090 147,717,727 2022 Cost in 2022 Dollars 2023 103,503,190 9,222,343 112,725,533 2023 Cost in 2023 Dollars TOTAL 754,739,254 118,231,840 872,971,095 Year Decom Expenditures Spent Fuel Total 2023 Estimated 114,823,152 6,604,356 121,427,508 2023 Actual 103,503,190 9,222,343 112,725,533 Variance 11,319,962 (2,617,987) 8,701,975 Year Decom Expenditures Spent Fuel Total 2024 254,454,085 320,903,616 575,357,701 See Attachment B, Column 1, Annual Decommissioning Fund Collections Decommissioning Criteria Upon Which the Estimate is Based 50.75(f)(1) 50.82(a)(8)(v)(B)
DECON Any Modification to Method of Providing Financial Assurance 50.75(f)(1) 50.82(a)(8)(v)(C)
No Any Material Changes to Trust Agreement Since Previous Report 50.75(f)(1) 50.82(a)(8)(v)(D)
Updated the Decommissioning Trust '90 agreement in 2021 to allow for a streamlined withdrawal process.
Need for Additional Financial Assurance 50.75(f)(1) 50.82(a)(8)(vi) (vii)(C)
Estimated in 2023 Dollars Comments Variance:
- The variance in SFM was driven largely by the timing of invoice payments associated with GTCC waste processing, packaging, and loading. Lower decommissioning costs were driven by reduced radiological waste costs based on the classification of waste generated and the associated cost, along with lower overall costs to perform the work than estimated, and the timing of invoice payments. The reduction between end of year 2022 and 2023 estimates for remaining expenditures across all categories is consistent with the 2023 expenditures.
Remaining Decommissioning Estimated Cost 50.82(a)(8)(v)(B) /(vii)(B)
Comments 2017 Cost in 2017 Dollars 2018 Cost in 2018 Dollars Prior Year Expenditures Variance to Estimated Cost 50.82(a)(8)(v)(B) 2016 Cost in as Spent Dollars 2019 Cost in 2019 Dollars Other Financial Assurance Methods Being Relied Upon 50.75(f)(1)
NONE Prior Years Decommissioning Expenditures 50.82(a)(8)(v)(A)
Comments Decommissioning Funding Status Report OMAHA PUBLIC POWER DISTRICT ATTACHMENT A Summary Information as of December 31, 2023 10 CFR 50.82 (a) (8) (v)-(vii)
Decommissioning Trust Fund Balances 50.75(f)(1) 50.82(a)(8)(v)(A)
Comments As of 12/31/23 As of 12/31/23
U.S. Nuclear Regulatory Commission LIC-24-0005, Attachment B Page 1 Year Column 1 Total Annual Decommissioning Fund Collections1 Column 2 Earnings on Trust Funds Column 3 License Termination Expenditures Column 4 Spent Fuel Management Expenditures Column 5 Site Restoration Expenditures Column 6 Decommissioning Trust Fund Balance2 Column 7 Supplemental Decommissioning Trust Fund Balance3 2023 93,764,749 386,234,119 2024 7,000,000 15,094,597 121,789,158 6,628,245 7,585,976 36,203,869 329,886,218 2025 5,282,712 11,025,631 101,736,056 6,821,605 11,205,532 13,116,951 249,518,284 2026 5,436,820 9,136,817 19,670,311 7,008,995 164,012 3,838,199 246,527,355 2027 5,586,169 9,466,134 10,487,507 3,984,753 250,945,597 2028 8,452,931 10,176,273 10,756,189 4,144,538 258,658,827 2029 8,669,488 10,915,188 11,032,024 4,317,453 267,038,564 2030 8,891,811 11,708,958 11,315,923 4,504,586 276,136,277 2031 9,120,634 12,563,262 11,607,988 4,707,137 286,009,634 2032 4,056,446 13,360,963 11,907,918 4,926,433 291,299,830 2033 13,986,612 12,215,564 5,163,936 292,833,375 2034 8,956,173 12,530,583 5,322,469 289,100,431 2035 8,841,476 12,853,891 5,485,869 284,924,616 2036 8,713,201 13,185,709 5,654,285 280,283,693 2037 8,590,425 12,239,153 5,827,871 276,461,378 2038 8,473,554 12,555,423 6,006,787 272,200,594 2039 8,343,258 12,880,030 6,191,195 267,479,414 2040 8,198,865 13,213,200 6,381,265 262,275,010 2041 8,039,676 13,555,161 6,577,170 256,563,620 2042 7,864,963 13,906,151 6,779,089 250,320,512 2043 7,673,968 14,266,413 6,987,207 243,519,949 2044 7,465,904 14,636,196 7,201,714 236,135,150 2045 7,239,950 15,015,758 7,422,807 228,138,249 2046 6,995,252 15,405,360 7,650,687 219,500,261 2047 6,730,923 15,805,275 7,885,563 210,191,033 2048 6,446,039 16,215,781 8,127,650 200,179,204 2049 6,139,640 16,637,163 8,377,169 189,432,162 2050 5,810,726 17,069,716 8,634,348 177,915,994 2051 5,458,260 17,513,740 8,899,422 165,595,439 2052 5,081,160 17,969,547 9,172,635 152,433,839 2053 4,678,304 18,437,455 9,454,235 138,393,088 2054 4,248,525 18,917,791 9,744,480 123,433,577 2055 3,790,609 19,410,892 10,043,635 107,514,138 2056 3,186,043 27,555,725 10,351,975 82,836,117 2057 2,301,733 36,426,155 10,669,780 48,393,888 2058 1,239,517 37,377,071 10,997,343 11,928,771 2059 346,596 11,163,600 12,109,110 0
(0) 2060 (0) 0 (0) 2061 (0) 0 (0) 2062 0
(0) 62,497,009 278,289,175 254,359,125 547,470,408 18,955,520 1 Annual Decommissioning Fund Collections for 2023 were $30,670,233 with Decommissioning Expenditures of $112,725,533.
2 In 2021, LTE expenses started being disbursed from the Decommissioning Trust ('90) Fund.
3 All collections and some expenditures flow through the Decommissioning Supplemental Trust through 2023. Continuing in 2024, some LTE expenses will be paid out of the Decommissioning Trust ('90) fund.
OMAHA PUBLIC POWER DISTRICT FORT CALHOUN STATION UNIT NO. 1 2024 ANNUAL DECOMMISSIONING FUNDING STATUS REPORT ATTACHMENT B Decommissioning Fund Annual Collections, Earnings, Expenditures and Balances
U.S. Nuclear Regulatory Commission LIC-24-0005 Attachment C Inflation Earnings Year Rate Rate 2024 3.13%
3.63%
2025 2.91%
3.57%
2026 2.74%
3.63%
2027 2.59%
3.82%
2028 2.55%
4.01%
2029 2.55%
4.17%
2030 2.56%
4.33%
2031 2.57%
4.50%
2032 2.57%
4.66%
2033 2.57%
4.82%
2034-2060 2.56%
3.07%
ATTACHMENT C Decommissioning Funds Annual Inflation and Earning Rates