Decommission

Industry/Regulatory/Political

  • International Atomic Energy Agency experts are in Japan this week to verify the Japanese government’s recent approval of the safety of Kansai Electric Power Co.’s Ohi 3 and 4, based on the results of European Union-style “stress tests.” James Lyons, director of IAEA’s nuclear installation safety division, said the final decision on restarting reactors shut down for safety inspections will rest with Japanese authorities. Passing the stress tests is a prerequisite for shutdown reactors to resume operation.
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Industry/Regulatory/Political

  • A Japanese panel of independent experts this month will begin an in-depth investigation of the causes of the Fukushima Daiichi accident. The body held its first meeting in December and will establish four working teams. The panel is to begin its work by studying the government and Tokyo Electric Power Co.’s interim investigation, which was released Dec. 26. The panel’s report, to be issued by the summer, is expected to propose changes to Japan’s administrative and nuclear policy.
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Industry/Regulatory/Political Issues

  • There is a “great deal of alignment” between the U.S. Nuclear Regulatory Commission and the industry on initial steps to take at America’s nuclear energy facilities in response to the nuclear accident in Japan, Charles Pardee, the chief operating officer of Exelon Generation Co., said at an agency briefing today. The briefing gave stakeholders an opportunity to discuss staff recommendations for near-term actions the agency may take at U.S. facilities. PowerPoint slides from the meeting are on the NRC website.
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Answer:

U.S. companies that operate nuclear energy facilities are required by the U.S. Nuclear Regulatory Commission to maintain property damage insurance and a separate decommissioning trust fund to ensure funding is available to decommission the facility.

Nuclear Electric Insurance Limited (NEIL), the U.S. industry’s mutual insurance company, provides insurance coverage for accidental property damage and extended down time resulting from an incident. For property damage and on-site decontamination, up to $2.75 billion is available to each nuclear energy facility. The policies provide coverage for direct physical damage to, or destruction of, the insured property as a result of a casualty loss, including an accident. The policies prioritize payment of expenses to stabilize the reactor to a safe condition and then decontaminate the plant site.
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Activity ID: 1002943 Activity Name: NEI Remarketing Safety Activity Group Name: Remarketing Safety First