LR-N25-0018, Report on Status of Decommissioning Funding for Reactors and Independent Spent Fuel Storage Installations

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Report on Status of Decommissioning Funding for Reactors and Independent Spent Fuel Storage Installations
ML25085A298
Person / Time
Site: Peach Bottom, Salem, Hope Creek  
Issue date: 03/26/2025
From: Mannal D
Public Service Enterprise Group
To:
Office of Nuclear Material Safety and Safeguards, Office of Nuclear Reactor Regulation, Document Control Desk
References
LR-N25-0018
Download: ML25085A298 (1)
v • d • e


Text

David J. Mannai Vice President - Regulatory Affairs & Oversight, PSEG Nuclear 2200 Alloway Creek Neck Road PO Box 236 Hancocks Bridge, New Jersey 08038-0221 David.Mannai@pseg.com 10 CFR 50.75(f)(1) 10 CFR 72.30 LR-N25-0018 March 26, 2025 U. S. Nuclear Regulatory Commission ATTN: Document Control Desk Washington, DC 20555-0001 Hope Creek Generating Station Renewed Facility Operating License No. NPF-57 NRC Docket No. 50-354 and 72-48 Salem Generating Station, Units 1 and 2 Renewed Facility Operating License Nos. DPR-70 and DPR-75 NRC Docket Nos. 50-272, 50-311, and 72-48 Peach Bottom Atomic Power Station, Units 2 and 3 Renewed Facility Operating License Nos. DPR-44 and DPR-56 NRC Docket Nos. 50-277, 50-278, and 72-29

Subject:

Report on Status of Decommissioning Funding for Reactors and Independent Spent Fuel Storage Installations In accordance with 10 CFR 50.75, Reporting and recordkeeping for decommissioning planning, paragraph (f)(1), PSEG Nuclear LLC (PSEG) is submitting a report on the status of decommissioning funding for each reactor or part of a reactor owned by PSEG. Additionally, in accordance with 10 CFR 72.30, Financial assurance and recordkeeping for decommissioning, paragraphs (b) and (c), PSEG is submitting an update to the decommissioning funding plans for the independent spent fuel storage installations (ISFSIs) owned in full or in part by PSEG.

The estimated cost of decommissioning each Part 50 licensed reactor is determined in accordance with 10 CFR 50.75(c). Decommissioning costs for each sites ISFSI are based on a detailed decommissioning cost estimate. PSEG provides financial assurance for decommissioning using the prepayment method in 10 CFR 50.75(e)(1)(i). The information provided in the attachments shows that funding assurance for each facility met or exceeded NRC requirements for providing reasonable assurance that adequate funds will be available for decommissioning.

PSEG I N u C LE AR

March 26, 2025 Page 2 LR-N25-0018 On May 28, 2024, PSEG requested exemptions from 10 CFR 50.82(a)(8)(i)(A) and 10 CFR 50.75(h)(1)(iv) to allow earnings from decommissioning trust funds to be periodically transferred to Non-50.75 Subaccounts within the trust (ML24150A003). The purpose of these subaccounts is to fund nuclear decommissioning costs as defined by the Treasury Department regulations under section 468A of the Internal Revenue Code (26 CFR Part 1), without being limited to the definition of decommission in 10 CFR 50.2. Therefore, consistent with NRC Regulatory Issue Summary (RIS) 2001-07, Revision 1, 10 CFR 50.75 Reporting and Recordkeeping for Decommissioning Planning, dated January 8, 2009 (ML083440158), funds accrued in these subaccounts are not to be included with the amounts of decommissioning trust funds reported under 10 CFR 50.75(f)(1). Enclosure 2 included with the exemption request proposed an amendment to the decommissioning trust agreement with material changes relating to the use of Non-50.75 Subaccount funds, contingent upon the NRC granting the requested exemptions. On December 23, 2024, the NRC issued the exemptions (ML24324A331) with no objection to the proposed amendment to the trust agreement, which was subsequently executed on February 26, 2025.

There are no regulatory commitments contained in this submittal. If you have any questions or require additional information, please contact Mr. Michael Wiwel at Michael.Wiwel@pseg.com.

Respectfully, David J. Mannai Vice President, Regulatory Affairs & Oversight PSEG Nuclear Attachments:

1.

Labor, Energy, and Burial Factors Used in Calculations (All Facilities) 2.

Radiological Decommissioning Funding Assurance Report for Hope Creek Generating Station 3.

Radiological Decommissioning Funding Assurance Report for Salem Generating Station, Unit 1 4.

Radiological Decommissioning Funding Assurance Report for Salem Generating Station, Unit 2 5.

Radiological Decommissioning Funding Assurance Report for Peach Bottom Atomic Power Station, Unit 2 6.

Radiological Decommissioning Funding Assurance Report for Peach Bottom Atomic Power Station, Unit 3 Mannai, David J

Digitally signed by Mannai, David J Date: 2025.03.26 13:56:03

-04'00'

March 26, 2025 Page 3 LR-N25-0018 cc:

Administrator, Region I, NRC NRC Project Manager, Hope Creek NRC Project Manager, Salem NRC Senior Resident Inspector, Hope Creek NRC Senior Resident Inspector, Salem Manager, NJ Bureau of Nuclear Engineering PSEG Commitment Tracking Coordinator

LR-N25-0018 Labor, Energy, and Burial Factors Used in Calculations (All Facilities)

LR-N25-0018 1

Labor, Energy, and Burial Factors Used in Calculations (All Facilities)

The labor, energy, and burial indexes and the calculations in the adjustment factors are consistent with those described in NUREG-1307, Revision 20, Report on Waste Burial Charges, published in February 2025.

The current labor cost indexes used are obtained from the Employment Cost Index, published by the U.S. Department of Labor, Bureau of Labor Statistics (BLS). Specifically, PSEG used the Employment Cost Index for total compensation for private industry workers by region. The labor adjustment factors were calculated according to Section 3.2 of NUREG-1307 using fourth quarter 2024 data updated as of February 2025. Table 1 shows the data used for this calculation.

Table 1: Labor Adjustment Factors Region Applicable Sites Series ID 4Q2024 Index Number Base Lx Labor Adjustment Factor (Lx)

Northeast Hope Creek Salem Peach Bottom CIU2010000000210I 168.4 2.16 3.637 The current energy cost indexes used are obtained from Producer Price Indexes (PPI) -

Commodities, published by the U.S. Department of Labor, BLS. Specifically, PSEG used the PPI for industrial electric power (WPU0543) and light fuel oils (WPU0573). The energy adjustment factors were calculated according to Section 3.3 of NUREG-1307 using December 2024 data updated as of February 2025. Table 2 shows the data used for this calculation.

Table 2: Energy Adjustment Factors WPU0543 - January 1986 (base value) 114.2 WPU0573 - January 1986 (base value) 82.0 WPU0543 - December 2024 (preliminary value) 295.399 WPU0573 - December 2024 (preliminary value) 277.481 Industrial electric power adjustment factor - Px 2.587 Light fuel oil adjustment factor - Fx 3.384 Energy Adjustment Factor (PWR) - Ex(PWR) 2.922 Energy Adjustment Factor (BWR) - Ex(BWR) 2.953 The waste burial adjustment factors used are taken from Table 2-1 of NUREG-1307 based on 2024 data. The adjustment factors PSEG used assume a combination of compact-affiliated and non-compact facilities, consistent with current waste disposal practices at PSEG and consistent with typical waste disposal practices during decommissioning. Table 3 summarizes the data used for the waste adjustment factors.

LR-N25-0018 2

Table 3: Waste Adjustment Factors LLW Burial Site Reactor Type Applicable Site Combination of Compact-Affiliated and Non-Compact Disposal Facilities Waste Adjustment Factor (Bx)

Generators Located in the Unaffiliated States and those Located in Compact-Affiliated States having no Disposal Facility Waste Adjustment Factor (Bx)

South Carolina Site Atlantic Compact BWR Hope Creek 15.017 N/A South Carolina Site Atlantic Compact PWR Salem 12.813 N/A Generic LLW Disposal Site BWR Peach Bottom N/A 11.658

LR-N25-0018 Radiological Decommissioning Funding Assurance Report for Hope Creek Generating Station

LR-N25-0018 2

Radiological Decommissioning Funding Assurance Report for Hope Creek Generating Station for Year Ending December 31, 2024 (December 31, 2024 dollars, thousands)

Formula cost amount per 10 CFR 50.75(c)

$817,023 Note (a)

Site-specific cost amount per 10 CFR 72.30(b)

$15,717 Note (a)

Note (b)

Note (g)

Amount of decommissioning funds accumulated in the trust as of December 31, 2024

$679,984 Note (c)

Schedule of annual amounts remaining to be collected

-None-Projected value of decommissioning funds

$1,129,614 Note (d)

Assumptions used in funding projections 2%

April 11, 2046 Note (e)

Contracts relied upon pursuant to 10 CFR 50.75(e)(1)(v)

-None-Modifications to current method of providing financial assurance since the last submitted report

-None-Amounts transferred to Non-50.75 Subaccounts

$56,200 Note (f)

Material changes to trust agreements Yes Note (h)

Notes:

(a) Amount is based on activities related to the definition of decommission in 10 CFR 50.2 and does not include the cost of removal and disposal of spent fuel or of nonradioactive structures and materials beyond that necessary to terminate the license.

(b) The following statements specifically address the events defined in 10 CFR 72.30(c):

1. No spills of radioactive material producing additional residual radioactivity in onsite subsurface material have occurred.
2. Facility modifications have not had an effect on ISFSI decommissioning costs.
3. There were no changes in authorized possession limits.
4. No active decommissioning has occurred; thus, there have not been any actual remediation costs that exceed the previous cost estimate.

(c) Amount reported is the amount accumulated for items included in 10 CFR 50.75(b) and (c).

Consistent with NRC RIS 2001-07 Revision 1, Non-50.75 Subaccount funds are not included.

(d) Value taking credit for projected earnings on decommissioning funds up to the expected permanent termination of operations (shutdown) and for pro-rata credit during the immediate dismantlement period as allowed by 10 CFR 50.75(e)(1)(i). Accounting for the 10 CFR 50.75(c) formula amount, the surplus is more than sufficient to fund the estimated ISFSI decommissioning costs as authorized by 10 CFR 50.75(e)(1)(i) and 10 CFR 72.30(e)(5).

(e) 2% annual real rate of return as allowed by 10 CFR 50.75(e)(1)(i). For the purposes of this report, permanent termination of operations (shutdown) is expected on April 11, 2046.

LR-N25-0018 3

(f) Amounts transferred to Non-50.75 Subaccounts since last reported under 10 CFR 50.75(f)(1) by PSEG letter LR-N23-0006 dated March 24, 2023 (ML23083A089), in accordance with the exemptions issued to PSEG by NRC letter dated December 23, 2024 (ML24324A331).

Transfers consisted entirely of earnings from decommissioning funds as indicated by an increase in the amounts accumulated in the trust since the last submitted report. At the time of the transfers, the amount of funding assurance provided by the decommissioning funds exceeded the amount required by 10 CFR 50.75(b) and (c) for Hope Creek by at least $100 million.

(g) An updated decommissioning funding plan was submitted by letter dated December 17, 2015 (ML15351A336). The site-specific decommissioning cost estimate was updated in 2024 and is provided in the table below.

(h) The proposed amendment to the trust agreement provided in Enclosure 2 to the exemption request dated May 28, 2024 (ML24150A003), with material changes relating to the use of funds in Non-50.75 Subaccounts, was executed on February 26, 2025.

Activity Description Removal Costs Packaging Costs Transport Costs LLRW Disposal Costs Other Costs Total Costs Burial Volume Class A (cubic feet)

Craft Manhours Oversight and Contractor Manhours Decommissioning Contractor Planning (characterization, specs and procedures) 389 389 690 Decontamination (activated disposition) 847 636 2,860 4,798 9,141 34,964 5,974 License Termination (radiological surveys) 2,039 2,039 11,885 Subtotal 847 636 2,860 4,798 2,428 11,569 34,964 17,859 690 Supporting Costs NRC and NRC Contractor Fees and Costs 488 488 1,153 Insurance 47 47 Property taxes 14 14 Plant energy budget 8

8 Barnwell Annual Access Fee 168 168 Security Staff Cost 114 114 2,110 Utility Staff Cost 165 165 1,658 Subtotal 1,005 1,005 4,920 Total (w/o contingency) 847 636 2,860 4,798 3,432 12,573 34,964 17,859 5,611 Total (w/25% contingency) 1,059 795 3,575 5,997 4,291 15,717 Hope Creek Generating Station ISFSI Decommissioning Cost Estimate (thousands of $2024 dollars)

LR-N25-0018

Radiological Decommissioning Funding Assurance Report for Salem Generating Station, Unit 1

LR-N25-0018 1

Radiological Decommissioning Funding Assurance Report for Salem Generating Station, Unit 1 for Year Ending December 31, 2024 (December 31, 2024 dollars, thousands)

Formula cost amount per 10 CFR 50.75(c)

$335,340 Note (a)

Site-specific cost amount per 10 CFR 72.30(b)

$5,535 Note (a)

Note (b)

Note (g)

Amount of decommissioning funds accumulated in the trust as of December 31, 2024

$510,986 Note (c)

Schedule of annual amounts remaining to be collected

-None-Projected value of decommissioning funds

$713,851 Note (d)

Assumptions used in funding projections 2%

August 13, 2036 Note (e)

Contracts relied upon pursuant to 10 CFR 50.75(e)(1)(v)

-None-Modifications to current method of providing financial assurance since the last submitted report

-None-Amounts transferred to Non-50.75 Subaccounts

$52,663 Note (f)

Material changes to trust agreements Yes Note (h)

Notes:

(a) Amount is prorated for PSEGs 57.41% ownership of Salem. Amount is based on activities related to the definition of decommission in 10 CFR 50.2 and does not include the cost of removal and disposal of spent fuel or of nonradioactive structures and materials beyond that necessary to terminate the license.

(b) The following statements specifically address the events defined in 10 CFR 72.30(c):

1. No spills of radioactive material producing additional residual radioactivity in onsite subsurface material have occurred.
2. Facility modifications have not had an effect on ISFSI decommissioning costs.
3. There were no changes in authorized possession limits.
4. No active decommissioning has occurred; thus, there have not been any actual remediation costs that exceed the previous cost estimate.

(c) Amount reported is the amount accumulated for items included in 10 CFR 50.75(b) and (c).

Consistent with RIS 2001-07 Revision 1, Non-50.75 Subaccount funds are not included.

(d) Value taking credit for projected earnings on decommissioning funds up to expected permanent termination of operations (shutdown) and pro-rata credit during the immediate dismantlement period as allowed by 10 CFR 50.75(e)(1)(i). Accounting for the 10 CFR 50.75(c) formula amount, the surplus is more than sufficient to fund the estimated ISFSI decommissioning costs as authorized by 10 CFR 50.75(e)(1)(i) and 10 CFR 72.30(e)(5).

(e) 2% annual real rate of return as allowed by 10 CFR 50.75(e)(1)(i). For the purposes of this report, permanent termination of operations (shutdown) is expected on August 13, 2036.

LR-N25-0018 2

(f) Amounts transferred to Non-50.75 Subaccounts since last reported under 10 CFR 50.75(f)(1) by PSEG letter LR-N23-0006 dated March 24, 2023 (ML23083A089), in accordance with the exemptions issued to PSEG by NRC letter dated December 23, 2024 (ML24324A331). Transfers consisted entirely of earnings from decommissioning funds as indicated by an increase in the amounts accumulated in the trust since the last submitted report. At the time of the transfers, the amount of funding assurance provided by the decommissioning funds exceeded the amount required by 10 CFR 50.75(b) and (c) for Salem Units 1 and 2 (combined) by at least $100 million.

(g) An updated decommissioning funding plan was submitted by letter dated December 17, 2015 (ML15351A336). The detailed decommissioning cost estimate common for both Salem Units was updated in 2024 and is provided in the table below. The cost stated is one-half of the total costs prorated to PSEGs 57.41% ownership share.

(h) The proposed amendment to the trust agreement provided in Enclosure 2 to the exemption request dated May 28, 2024 (ML24150A003), with material changes relating to the use of funds in Non-50.75 Subaccounts, was executed on February 26, 2025.

Act.ivity De!cript,ion Deconuuis.sionin.( ContrRctor Plannin~ (characterization, soecs and orocedures)

Decontamination (activated dis>>oGition)

Licen*e Termination (radiological *urvey*)

Subtotal Supportine: Cost*

NRC and NRC Contractor Fees and Costs Insurance Pronertv taxes Plant energy budget Barnwell Annuol Aoce,, Fee Security Staff Cost Utilitv Staff Cost Subtotal Total (w/o contiue.*ency)

Total (w/25*o contin°*ency)

Salem Ge.nerating Station ISFSI Decommissioning Cost Est imate (thousands of $2024 dollars)

LLRW Removal Packaging Transport, Disposal Other Costs Costs Co.n5 Cost*

Costs 569 1,017 742 3,315 5,570 2,867 1.017 742 3.315 5.570 3.436 547 62 20 11 337 151 219 1.347 1.017 742 3.315 5.570 4.7S2 1.271 92S 4.143 6.962 5,97S Burial Oversight Total Volume Craft and Cosr.s Class A Manhours Contractor (cubic feet)

Manhours 569 958 10,644 40,657 6,964 2,867 17,056 14.0,9 40.657 24.020 958 547 1 153 62 20 11 337 151 2,797 219 2,197 1.347 6.147 15.426 40.657 24.020 7.105 19.2S2

LR-N25-0018

Radiological Decommissioning Funding Assurance Report for Salem Generating Station, Unit 2

LR-N25-0018 1

Radiological Decommissioning Funding Assurance Report for Salem Generating Station, Unit 2 for Year Ending December 31, 2024 (December 31, 2024 dollars, thousands)

Formula cost amount per 10 CFR 50.75(c)

$335,340 Note (a)

Site-specific cost amount per 10 CFR 72.30(b)

$5,535 Note (a)

Note (b)

Note (g)

Amount of decommissioning funds accumulated in the trust as of December 31, 2024

$425,309 Note (c)

Schedule of annual amounts remaining to be collected

-None-Projected value of decommissioning funds

$636,460 Note (d)

Assumptions used in funding projections 2%

April 18, 2040 Note (e)

Contracts relied upon pursuant to 10 CFR 50.75(e)(1)(v)

-None-Modifications occurring to current method of providing financial assurance since the last submitted report

-None-Amounts transferred to Non-50.75 Subaccounts

$37,993 Note (f)

Material changes to trust agreements Yes Note (h)

Notes:

(a) Amount is prorated for PSEGs 57.41% ownership of Salem. Amount is based on activities related to the definition of "decommission" in 10 CFR 50.2 and does not include the cost of removal and disposal of spent fuel or of nonradioactive structures and materials beyond that necessary to terminate the license.

(b) The following statements specifically address the events defined in 10 CFR 72.30(c):

1. No spills of radioactive material producing additional residual radioactivity in onsite subsurface material have occurred.
2. Facility modifications have not had an effect on ISFSI decommissioning costs.
3. There were no changes in authorized possession limits.
4. No active decommissioning has occurred; thus, there have not been any actual remediation costs that exceed the previous cost estimate.

(c) Amount reported is the amount accumulated for items included in 10 CFR 50.75(b) and (c).

Consistent with RIS 2001-07 Revision 1, Non-50.75 Subaccount funds are not included.

(d) Value taking credit for projected earnings on decommissioning funds up to expected permanent termination of operations (shutdown) and pro-rata credit during the immediate dismantlement period as allowed by 10 CFR 50.75(e)(1)(i). Accounting for the 10 CFR 50.75(c) formula amount, the surplus is more than sufficient to fund the estimated ISFSI decommissioning costs as authorized by 10 CFR 50.75(e)(1)(i) and 10 CFR 72.30(e)(5).

(e) 2% annual real rate of return as allowed by 10 CFR 50.75(e)(1)(i). For the purposes of this report, permanent termination of operations (shutdown) is expected on April 18, 2040.

LR-N25-0018 2

(f) Amounts transferred to Non-50.75 Subaccounts since last reported under 10 CFR 50.75(f)(1) by PSEG letter LR-N23-0006 dated March 24, 2023 (ML23083A089), in accordance with the exemptions issued to PSEG by NRC letter dated December 23, 2024 (ML24324A331). Transfers consisted entirely of earnings from decommissioning funds as indicated by an increase in the amounts accumulated in the trust since the last submitted report. At the time of the transfers, the amount of funding assurance provided by the decommissioning funds exceeded the amount required by 10 CFR 50.75(b) and (c) for Salem Units 1 and 2 (combined) by at least $100 million.

(g) An updated decommissioning funding plan was submitted by letter dated December 17, 2015 (ML15351A336). The detailed decommissioning cost estimate common for both Salem Units was updated in 2024 and is provided in the table below. The cost stated is one-half of the total costs prorated to PSEGs 57.41% ownership share.

(h) The proposed amendment to the trust agreement provided in Enclosure 2 to the exemption request dated May 28, 2024 (ML24150A003), with material changes relating to the use of funds in Non-50.75 Subaccounts, was executed on February 26, 2025.

Activity Descl'iption Decomm.issionint Contractor Planning (characterization, specs and procedures)

Decontamination (activated disposition)

License Termination (radiolorical surveys)

Subtotal Sunnortinct Costs NRC and NRC Contractor Fees and Costs ln$W'ance ProDertv taxes Plant energy budget Barnwell Annual Acee;; Fee Security Staff Cost Utility Staff Cost Subtotal Total (w/o contine:ency)

Total (w/25', contine:ency)

Salem Generating Station IS FSI Decommissioning Cost Estimate (thousands of $2024 dollars)

LLRW Removal Packaging Transport Disposal Other Costs Costs Costs Costs Costs 569 1,017 742 3,315 5,570 2,867 1.017 742 3,315 5,570 3,436 547 62 20 11 337 151 219 1,347 1.017 742 3.315 5.570 4,782 1.271 928 4.143 6.962 5.978 Burial Over*lfht Total Volume Craft and Costs Class A Manhours Contractor (cubic feet)

Manhours 569 958 10,644 40,657 6,964 2,867 17,056 14.079 40.657 24,020 958 547 U 53 62 20 11 337 151 2,797 219 2,197 1.347 6.147 15.426 40.657 24,020 7.105 19.282

LR-N25-0018

Radiological Decommissioning Funding Assurance Report for Peach Bottom Atomic Power Station, Unit 2

LR-N25-0018 1

Radiological Decommissioning Funding Assurance Report for Peach Bottom Atomic Power Station, Unit 2 for Year Ending December 31, 2024 (December 31, 2024 dollars, thousands)

Formula cost amount per 10 CFR 50.75(c)

$358,630 Note (a)

Site-specific cost amount per 10 CFR 72.30(b)

$3,949 Note (a)

Note (b)

Note (g)

Amount of decommissioning funds accumulated in the trust as of December 31, 2024

$421,656 Note (c)

Schedule of annual amounts remaining to be collected

-None-Projected value of decommissioning funds

$547,641 Note (d)

Assumptions used in funding projections 2%

August 8, 2033 Note (e)

Contracts relied upon pursuant to 10 CFR 50.75(e)(1)(v)

-None-Modifications to current method of providing financial assurance since the last submitted report

-None-Amounts transferred to Non-50.75 Subaccounts

$42,428 Note (f)

Material changes to trust agreements Yes Note (h)

Notes:

(a) Amount is prorated for PSEGs 50% ownership of Peach Bottom, Unit 2. Amount is based on activities related to the definition of decommission in 10 CFR 50.2 and does not include the cost of removal and disposal of spent fuel or of nonradioactive structures and materials beyond that necessary to terminate the license.

(b) The following statements specifically address the events defined in 10 CFR 72.30(c):

1. No spills of radioactive material producing additional residual radioactivity in onsite subsurface material have occurred.
2. Facility modifications have not had an effect on ISFSI decommissioning costs.
3. There were no changes in authorized possession limits.
4. No active decommissioning has occurred; thus, there have not been any actual remediation costs that exceed the previous cost estimate (c) Amount reported is the amount accumulated for items included in 10 CFR 50.75(b) and (c). Consistent with RIS 2001-07 Revision 1, Non-50.75 Subaccount funds are not included.

(d) Value taking credit for projected earnings on decommissioning funds up to expected permanent termination of operations (shutdown) and pro-rata credit during the immediate dismantlement period as allowed by 10 CFR 50.75(e)(1)(i). Accounting for the 10 CFR 50.75(c) formula amount, the surplus is more than sufficient to fund the estimated ISFSI decommissioning costs as authorized by 10 CFR 50.75(e)(1)(i) and 10 CFR 72.30(e)(5).

(e) 2% annual real rate of return as allowed by 10 CFR 50.75(e)(1)(i). For the purposes of this report, permanent termination of operations (shutdown) is expected on August 8, 2033. The subsequently renewed license was issued for an additional 20 years; however, the license expiration date has been reverted to 2033 until

LR-N25-0018 2

completion of the National Environmental Policy Act (NEPA) analysis as directed by NRC Memorandum and Order, CLI-22-04, dated February 24, 2022 (ML22055A557).

(f) Amounts transferred to Non-50.75 Subaccounts since last reported under 10 CFR 50.75(f)(1) by PSEG letter LR-N23-0006 dated March 24, 2023 (ML23083A089), in accordance with the exemptions issued to PSEG by NRC letter dated December 23, 2024 (ML24324A331). Transfers consisted entirely of earnings from decommissioning funds as indicated by an increase in the amounts accumulated in the trust since the last submitted report. At the time of the transfers, the amount of funding assurance provided by the decommissioning funds exceeded the amount required by 10 CFR 50.75(b) and (c) for Peach Bottom Units 2 and 3 (combined) by at least $100 million.

(g) An updated decommissioning funding plan was submitted by letter dated December 17, 2015 (ML15351A336). The detailed decommissioning cost estimate common for Peach Bottom Units 2 and 3 was updated in 2024 and is provided in the table below. The cost stated is one-half of the total costs prorated for PSEGs 50% ownership share.

(h) The proposed amendment to the trust agreement provided in Enclosure 2 to the exemption request dated May 28, 2024 (ML24150A003), with material changes relating to the use of funds in Non-50.75 Subaccounts, was executed on February 26, 2025.

Removal Costs Packaging Costs Transportation Costs LLRW Disposal Costs Other Costs TotalCosts Burial Volume ClassA(ft3)

$1,876

$199

$902

$2,037

$5,013 60,639

$4,713

$4,713

$1,876

$199

$902

$2,037

$4,713

$9,726 60,639

$798

$798

$319

$319

$1,677

$1,677

$83

$83

$13

$13

$20

$20

$20

$0

$0

$0

$2,891

$2,911

$1,896

$199

$902

$2,037

$7,604

$12,637 60,639

$2,370

$248

$1,128

$2,546

$9,505

$15,797 Totalw/ocontingency Totalwith25%contingency SecurityStaffCost InsuranceandNRCFees PropertyTaxes PlantEnergyBudget EquipmentandSupplies Subtotal DecommissioningContractor Decontamination(activated dispositon)

CharacterizationandLicensing Surveys Subtotal SupportingCosts UtilityStaffCost ActivityDescription PeachBottomISFSIRadiologicalDecommissioning (thousandsof$2024dollars)

LR-N25-0018

Radiological Decommissioning Funding Assurance Report for Peach Bottom Atomic Power Station, Unit 3

LR-N25-0018

1

Radiological Decommissioning Funding Assurance Report for Peach Bottom Atomic Power Station, Unit 3 for Year Ending December 31, 2024 (December 31, 2024 dollars, thousands)

Formula cost amount per 10 CFR 50.75(c)

$358,630 Note (a)

Site-specific cost amount per 10 CFR 72.30(b)

$3,949 Note (a)

Note (b)

Note (g)

Amount of decommissioning funds accumulated in the trust as of December 31, 2024

$415,572 Note (c)

Schedule of annual amounts remaining to be collected

-None-Projected value of decommissioning funds

$549,511 Note (d)

Assumptions used in funding projections 2%

July 2, 2034 Note (e)

Contracts relied upon pursuant to 10 CFR 50.75(e)(1)(v)

-None-Modifications to current method of providing financial assurance since the last submitted report

-None-Amounts transferred to Non-50.75 Subaccounts

$40,196 Note (f)

Material changes to trust agreements Yes Note (h)

Notes:

(a) Amount is prorated for PSEGs 50% ownership of Peach Bottom, Unit 3. Amount is based on activities related to the definition of decommission in 10 CFR 50.2 and does not include the cost of removal and disposal of spent fuel or of nonradioactive structures and materials beyond that necessary to terminate the license.

(b) The following statements specifically address the events defined in 10 CFR 72.30(c):

1. No spills of radioactive material producing additional residual radioactivity in onsite subsurface material have occurred.
2. Facility modifications have not had an effect on ISFSI decommissioning costs.
3. There were no changes in authorized possession limits.
4. No active decommissioning has occurred; thus, there have not been any actual remediation costs that exceed the previous cost estimate.

(c) Amount reported is the amount of funds accumulated for items included in 10 CFR 50.75(b) and (c).

Consistent with RIS 2001-07 Revision 1, funds accumulated in Non-50.75 Subaccounts are not included.

(d) Value taking credit for projected earnings on decommissioning funds up to expected permanent termination of operations (shutdown) and pro-rata credit during the immediate dismantlement period as allowed by 10 CFR 50.75(e)(1)(i). Accounting for the 10 CFR 50.75(c) formula amount, the surplus is more than sufficient to fund the estimated ISFSI decommissioning costs as authorized by 10 CFR 50.75(e)(1)(i) and 10 CFR 72.30(e)(5).

(e) 2% annual real rate of return as allowed by 10 CFR 50.75(e)(1)(i). For the purposes of this report, permanent termination of operations (shutdown) is expected on July 2, 2034. The subsequently renewed license was issued for an additional 20 years; however, the license expiration date has been reverted to 2034 until completion of the National Environmental Policy Act (NEPA) analysis as directed by NRC Memorandum and Order, CLI-22-04, dated February 24, 2022 (ML22055A557).

LR-N25-0018

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(f) Amounts transferred to Non-50.75 Subaccounts since last reported under 10 CFR 50.75(f)(1) by PSEG letter LR-N23-0006 dated March 24, 2023 (ML23083A089), in accordance with the exemptions issued to PSEG by NRC letter dated December 23, 2024 (ML24324A331). Transfers consisted entirely of earnings from decommissioning funds as indicated by an increase in the amounts accumulated in the trust since the last submitted report. At the time of the transfers, the amount of funding assurance provided by the decommissioning funds exceeded the amount required by 10 CFR 50.75(b) and (c) for Peach Bottom Units 2 and 3 (combined) by at least $100 million.

(g) An updated decommissioning funding plan was submitted by letter dated December 17, 2015 (ML15351A336). The detailed decommissioning cost estimate common for Peach Bottom Units 2 and 3 was updated in 2024 and is provided in the table below. The cost stated is one-half of the total costs prorated for PSEGs 50% ownership share.

(h) The proposed amendment to the trust agreement provided in Enclosure 2 to the exemption request dated May 28, 2024 (ML24150A003), with material changes relating to the use of funds in Non-50.75 Subaccounts, was executed on February 26, 2025.

Removal Costs Packaging Costs Transportation Costs LLRW Disposal Costs Other Costs TotalCosts Burial Volume ClassA(ft3)

$1,876

$199

$902

$2,037

$5,013 60,639

$4,713

$4,713

$1,876

$199

$902

$2,037

$4,713

$9,726 60,639

$798

$798

$319

$319

$1,677

$1,677

$83

$83

$13

$13

$20

$20

$20

$0

$0

$0

$2,891

$2,911

$1,896

$199

$902

$2,037

$7,604

$12,637 60,639

$2,370

$248

$1,128

$2,546

$9,505

$15,797 Totalw/ocontingency Totalwith25%contingency SecurityStaffCost InsuranceandNRCFees PropertyTaxes PlantEnergyBudget EquipmentandSupplies Subtotal DecommissioningContractor Decontamination(activated dispositon)

CharacterizationandLicensing Surveys Subtotal SupportingCosts UtilityStaffCost ActivityDescription PeachBottomISFSIRadiologicalDecommissioning (thousandsof$2024dollars)

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