PNO-I-22-001, Susquehanna Notification of Bankruptcy Filing by Talen Energy Supply
| ML22131A329 | |
| Person / Time | |
|---|---|
| Site: | Susquehanna  |
| Issue date: | 05/11/2022 |
| From: | Jon Greives NRC/RGN-I/DORS |
| To: | |
| References | |
| PNO-I-22-001 | |
| Download: ML22131A329 (2) | |
PRELIMINARY NOTIFICATION May 11, 2022 PRELIMINARY NOTIFICATION OF EVENT OR UNUSUAL OCCURRENCE - PNO-I-22-001 This preliminary notification constitutes EARLY notice of events of POSSIBLE safety or public interest significance. Some of the information may not yet be fully verified or evaluated by the Region I staff.
Facility Susquehanna Steam Electric Station Units 1 & 2 Susquehanna Nuclear, LLC Docket: 50-00387 50-00388
SUBJECT:
NOTIFICATION OF BANKRUPTCY FILING BY TALEN ENERGY SUPPLY AND SUSQUEHANNA NUCLEAR On May 9, 2022, Talen Energy Supply, LLC, and its subsidiary Susquehanna Nuclear, LLC, the owner and operator of Susquehanna Steam Electric Station, Units 1 and 2, filed for bankruptcy under Chapter 11 of the United States Bankruptcy Code. Chapter 11 grants protection from creditors to a company in financial difficulties for a limited period to allow it to reorganize its debt.
Based on inspection activities conducted prior to and immediately following the May 9th bankruptcy filing, NRC Region I inspectors have not identified any apparent adverse impacts on the safe operations of the plants.
The NRC will continue to complete the baseline inspection program under the Reactor Oversight Process at Susquehanna.
Now that Talen and Susquehanna Nuclear have filed for bankruptcy, the NRC will implement inspection activities to assess whether any identified performance issues, which could be related to the licensees financial condition, impact safe operation of the plants. The areas for review include: impacts on regulatory required plant staffing; corrective maintenance and corrective action program backlogs; changes to the planned maintenance schedule; and any impacts on emergency preparedness capabilities. Region I will use the flexibilities in inspection sample selection allowed by the Reactor Oversight Process to conduct these reviews rather than utilizing additional inspection resources. The results of these focused inspections will be documented in the routine quarterly inspection report for each site, beginning with the second quarter of 2022.
Decommissioning funding for each site continues to be sufficiently funded under NRC regulations. Susquehanna Nuclear reported the status of decommissioning funding in March 2021 and NRC staff concluded that the licensee met the minimum funding requirements in 10 CFR 50.75 (ML21285A227). The NRCs Office of Nuclear Materials Safety and Safeguards will continue to monitor decommissioning funding for the two units to ensure continued sufficient funding. The NRCs Office of the General Counsel notified the Department of Justice on May 10, 2022, that the NRC has an interest in the bankruptcy proceeding, including protection and preservation of the decommissioning trust funds, the maintenance of nuclear accident insurance, and continued compliance with NRC requirements.
This preliminary notification is issued for information only and no additional action by the staff is anticipated.
The state of Pennsylvania has been notified.
Region I received initial notification of this occurrence by telephone from the licensee and received written confirmation in a letter from the licensee on May 10, 2022.
The information presented herein has been discussed with the licensee and is current as of 12:00 p.m. EST, on May 11, 2022.
ADAMS Accession Number: ML22131A329 Contacts:
Jonathan Greives 610-337-5337 jonathan.greives@nrc.gov