Skip to main content

NARUC's View on Suspension of the Nuclear Waste Fee

Over at our main website, we've just published a Q&A with the National Association of Regulatory Utility Commissioners on what might happen next with the Nuclear Waste Fee. Among the takeaways:
  • As of Dec. 31, 2013, consumers have paid more than $20 billion into fund
  • While fee is no longer being collected, interest accrues on the balance
  • NARUC believes once program "gets back on its feet," collection of the fee would resume
The fee totaled about $750 million a year industrywide and, since its inception, more than $20 billion has been paid into the fund by nuclear energy consumers. See map for totals by state:


Our readers will recall that the fee was suspended last month after an appellate court ruled last November that in light of the department’s termination of the Yucca Mountain repository program, DOE could not continue to collect the surcharge of one-tenth of a cent per kilowatt-hour on consumers of nuclear-generated electricity. Here's what NEI's Marv Fertel had to say last month when the fee was finally suspended.



For more details on nuclear waste management, see our website.

Comments

The nuclear waste fund should be used to finance:

1. The building of temporary Federal spent fuel repositories located in every State that produces spent fuel.

2. The building of spent fuel reprocessing plants to gradually introduce reprocessed fuel into current reactors and eventually into next generation thorium reactors.

Treating spent fuel like hazardous waste instead of as a reusable source of clean energy only helps to demonize the commercial nuclear industry, IMO.

Marcel
Joffan said…
A $20 billion fund has power to change things without even spending it. This could be used as assurance to justify widespread low-interest loans for nuclear construction without any fees or claims of subsidy - it's the nuclear industry that is subsidizing the government right now, after all.
Anonymous said…
The waste fee is/was paid by electricity consumers, not "the nuclear industry." That fee is for management and disposal of spent nuclear fuel from commercial power reactors, not development of the nuclear power industry.
Mitch said…
Marcel F. Williams said...>Treating spent fuel like hazardous waste instead of as a reusable source of clean energy only helps to demonize the commercial nuclear industry, IMO.<

Can't be shouted hard enough!
Anonymous said…
NEI is thumping its chest over Harry Reid smirking while you filed suit to stop the collection of financial resources needed to review an active license application, close the fuel cycle and regain waste confidence? Guys, your lawyers are myopic, you've won a lawsuit this is going to lose you the war. It isn't just about resuming NWF contributions (BTW, that is such a shallow analysis that it hurts my head just reading it) because the momentum and critical mass for the entire program has been obliterated. Stopping the contributions was a totally wasted effort. You guys were duped and diverted. The focus should have been on the Mandamus, contempt of the court with some jail time to think about it, no confidence votes in Congress, and investigations of malfeasance in the Senate ML office and White House, and misfeasance in the Jaczko, MacFarlane, Chu and Moniz regiemes.

Popular posts from this blog

Fluor Invests in NuScale

You know, it’s kind of sad that no one is willing to invest in nuclear energy anymore. Wait, what? NuScale Power celebrated the news of its company-saving $30 million investment from Fluor Corp. Thursday morning with a press conference in Washington, D.C. Fluor is a design, engineering and construction company involved with some 20 plants in the 70s and 80s, but it has not held interest in a nuclear energy company until now. Fluor, which has deep roots in the nuclear industry, is betting big on small-scale nuclear energy with its NuScale investment. "It's become a serious contender in the last decade or so," John Hopkins, [Fluor’s group president in charge of new ventures], said. And that brings us to NuScale, which had run into some dark days – maybe not as dark as, say, Solyndra, but dire enough : Earlier this year, the Securities Exchange Commission filed an action against NuScale's lead investor, The Michael Kenwood Group. The firm "misap...

Wednesday Update

From NEI’s Japan micro-site: NRC, Industry Concur on Many Post-Fukushima Actions 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. • The International Atomic Energy Agency board has approved a plan that calls for inspectors to evaluate reactor safety at nuclear energy facilities every three years. Governments may opt out of having their country’s facilities inspected. Also approved were plans to maintain a rapid response team of experts ready to assist facility operators recoverin...

Nuclear Utility Moves Up in Credit Ratings, Bank is "Comfortable with Nuclear Strategy"

Some positive signs that nuclear utilities can continue to receive positive ratings even while they finance new nuclear plants for the first time in decades: Wells Fargo upgrades SCANA to Outperform from Market Perform Wells analyst says, "YTD, SCG shares have underperformed the Regulated Electrics (total return +2% vs. +9%). Shares trade at 11.3X our 10E EPS, a modest discount to the peer group median of 11.8X. We view the valuation as attractive given a comparatively constructive regulatory environment and potential for above-average long-term EPS growth prospects ... Comfortable with Nuclear Strategy. SCG plans to participate in the development of two regulated nuclear units at a cost of $6.3B, raising legitimate concerns regarding financing and construction. We have carefully considered the risks and are comfortable with SCG’s strategy based on a highly constructive political & regulatory environment, manageable financing needs stretched out over 10 years, strong partners...