ML25111A049
| ML25111A049 | |
| Person / Time | |
|---|---|
| Site: | Yankee Rowe |
| Issue date: | 02/28/2025 |
| From: | Conry T Yankee Atomic Electric Co |
| To: | Document Control Desk, Office of Nuclear Material Safety and Safeguards |
| References | |
| BYR 2025-007 | |
| Download: ML25111A049 (1) | |
Text
YANKEE ATOMIC ELECTRIC COMPANY 49 Yankee Road, Rowe, Massachusetts 01367 A 1TN: Document Control Desk U.S. Nuclear Regulatory Commission Washington, DC 20555 - 0001 Yankee Atomic Electric Company February 28, 2025 BYR 2025-007 10 CFR 50.4 10 CFR 50.82(a)(8)(vii)
Yankee Nuclear Power Plant lndependent Spent Fuel Storage Installation
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NRC License No. DPR-3 (NRC Docket No.50-029) 1 Z -
0 3
Subject:
Funding Status Report for Managing Irradiated Fuel and GTCC Waste On February 26, 1992, Yankee Atomic Electric Company (Y AEC) informed the USNRC that the Board of Directors ofYAEC had decided to permanently cease operations at the Yankee Nuclear Power Plant and that fuel had been permanently removed from the reactor (Reference 1 ). In accordance with 10 CFR 50.82(a)(2), the certifications in the letter modified the Y AEC license to permanently withdraw Y AEC's authority to operate the reactor. In 1993, Y AEC commenced decommissioning the power plant. On August 10, 2007, the NRC released most of the formerly licensed land for unrestricted use, shrinking the licensed land to that utilized to support the Independent Spent Fuel Storage Installation (ISFSl) (Reference 2). Presently, Y AEC is storing irradiated fuel and Greater than Class C (GTCC) waste on site until the Department of Energy (DOE) satisfies its contractual obligations to take title and possession of the spent fuel and GTCC waste and remove them from the site.
[n Attachment 1, Y AEC provides the attached Funding Status Report for Managing Irradiated Fuel and GTCC Waste at the Yankee Nuclear Power Plant [SFSI to comply with 10 CFR 50.82(a)(8)(vii).
This letter contains no regulatory commitments.
f-JH S 5 D l IJf-1552(,c
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Yankee Atomic Electric Company BYR 2025-007\\February 28, 2025\\Page 2 If you have any questions regarding this letter, please do not hesitate to contact me at (508) 612-3322.
Respectfully, Timothy Conry Treasurer
Attachment:
- 1. Funding Status Report for Managing Irradiated Fuel and GTCC Waste at the Yankee Nuclear Power Plant Independent Spent Fuel Storage Installation (Status as of 12/31 /2024)
References:
- 1. A. C. Kadak (Y AEC) letter to USNRC, "Permanent Cessation of Power Operations at the Yankee Nuclear Power Station," BYR-92-024, dated February 26, 1992
- 2. USNRC letter to Yankee Atomic Power Company, "Yankee Nuclear Power Station - Release of Land from Part 50 License," dated August l 0, 2007 cc:
A. Kock, NRC Region I Administrator A. Dimitriadis, Chief, Decommissioning Branch, NRC, Region I Y. Diaz-Sanabria, Chief, Division of Fuel Management, Storage and Transportation Licensing Branch J. Viveiros, Planning, Preparedness & Nuclear Section Chief, MEMA
ATTACHMENT 1 TO BYR 2025-007 FUNDING STATUS REPORT FOR THE MANAGING OF IRRADIATED FUEL AND GTCC WASTE ATTHEYANKEENUCLEARPOWERPLANT INDEPENDENT SPENT FUEL STORAGE INSTALLATION (STATUS AS OF 12/31/2024)
Attachment l to BYR 2025-007 Funding Status Report for the Managing of Irradiated Fuel and GTCC Waste at the Ya nkee Nuclear Power Plant Independent Spent Fuel Storage Installation (Status as of 12/31/2024) 10 CFR Requirement
Response
Comment IO CFR S0.82(a)(8)(vii) Requirements J.
The amount of funds accwnulated
- $108.4 Yankee Atomic Electric Company (Y AEC) has established an account within its to cover the cost of managing the million (as of Nuclear Decommissioning Trnst (NDT) entitled, "lSFSI Radiological Decom," that irradiated fuel.
12/3 l /2024) segregates the funds for decommissioning of the Yankee N uclear Power Plant Independent Spent Fuel Storage Installation (ISFSI) from the larger balance of funds for ongoing management of irradiated fuel and Greater than Class C (GTCC) waste held in the NOT. 111e market balance represented here as of December 3 1, 2024, excludes the funds set-aside for decommissioning the ISFSI.
- 2. The projected cost of managing
- $2 19. 1 The current cost estimate for management of spent fuel and Greater than Class C irradiated fuel until title to the million (2025 (GTCC) waste was submitted to the NRC on December 10, 2024, and corrected on fuel and possession of the fuel is
-2043*)
January 8, 2025.
transferred to the Secretary of (In 2024 Energy.
dollars)
- Currently, the irradiated fuel and GTCC waste are scheduled to be removed from the site by 2043, with decommissioning, licen e termination, and business closure occurring after that time period.
- 3. If the funds accumulated do not See Comment The Company has several methods of obtaining additional funds to cover projected cover the projected cost, a pl an to costs.
obtain additional funds to cover the cost.
First, Y AEC may collect funds through its power contracts and amendatory agreements under FERC regulation. The power contracts and the an1endatory agreements specify the obligations of the purchasers for the costs of Y AEC, including the ongoing costs of managing irradiated fuel and GTCC waste. Pursuant to these power contracts, Y AEC has the ongoing ability to seek collections from its purchasers for additional funds that may be required to cover these costs.
Second, Y AEC has received proceeds from the successful litigation of several phases of its breach of contract damages claims against the DOE for failure to begin the removal of spent nuclear fuel (SNF) and GTCC waste from the site in 1998. Y AEC will continue to file claims against the DOE, as long as the DOE continues to breach its contract obligations related to SNF and GTCC waste.
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Attachment I to BYR 2025-007 Funding Status Report for the Managing of Irradiated Fuel and GTCC Waste at the Yankee Nuclear Power Plant Independent Spent Fuel Storage Jnstallation (Status as of 12/31/2024) 10 CFR Requirement
Response
Comment A YAEC FERC fil ing approved in June 20 13, implemented a fifteen-year funding mechanism. Until the 20 13 FERC fi ling, the Company had employed a "full funding" assumption in developing funding requirements. The fifteen-year funding mechanism was put in place to incorporate the potential for the receipt of future DOE breach of contract damages as a source of funding. If future damage recovery does not occur, the Company may apply to FERC for more funding, if necessary. The approved FERC fi ling also requires Y AEC to provide an informational filing regarding the adequacy of funding if fi ve years pass without receipt of dan1age awards from litigation with the DOE.
Third, Y AEC expects to utilize the investment return on Decommissioning Trust assets to offset future costs. The current assumed rate of investment return, after fees and taxes is 5.0%.
Fourth, On April 4, 2024, the NRC granted exemptions from the requirements of I 0 CFR 50.82(a)(8)(i)(A) and 10 CFR 50.75(h)(2) to permit YAEC to make withdrawals from the segregated account, on an annual basis, for spent nuclear fuel (SNF) and Greater than Class C (GTCC) waste management and non-radiological site restoration, without prior notification to the NRC. More specifically, with these exemptions, YAEC would be able to annually transfer funds exceeding 11 0 percent of their inflation-adjusted Decommissioning Cost Estimate from the segregated account to its overarching Nuclear Decommissioning Trust and use those funds for SNF and GTCC waste management and non-radiological site restoration. Y AEC made one such transfer in 2024 while maintaining a fund balance that exceeded the 110 percent cost estimate threshold.
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