Decommissioning is on track
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By JAY THAYER - Published: June 25, 2009
The financial markets' tumult has made any long-term financial planning process challenging. When you mix in the technological complexity of decommissioning a nuclear power plant, the challenges can seem daunting.
They are, however, eminently solvable, as the federally managed system for long-term planning for plant decommissioning is sound and sensible.
A recent June 17 Rutland Herald story ("Short for shutdown") from The Associated Press addresses the state of nuclear plant decommissioning nationwide, raising some important issues, including at Vermont Yankee. However, important facts in the story merit clarification.
First, it is fundamental to the decommissioning process to have a federal repository for used nuclear fuel. Since 1983, electric ratepayers have paid more than $30 billion into a dedicated fund for such a repository, with Vermonters' contribution totaling $92 million.
Unfortunately, due to national politics, it is highly unlikely such a facility at Yucca Mountain, Nev., or anywhere else will open soon. More than any other factor, the existence or non-existence of such a repository will impact decommissioning costs for all plants nationwide.
Whether one supports or opposes nuclear power, we should all agree that such a facility is needed and should be built as soon as possible.
Second, the U.S. Nuclear Regulatory Commission has a long and successful track record of addressing decommissioning matters successfully. Before any plant is sold or transferred, the NRC evaluates the sufficiency of a fund and the ability of the new license holder to meet financial decommissioning requirements.
This is an ongoing, systematic process. The NRC can compel additional fund contributions as it deems necessary and appropriate. Because of the NRC's scrutiny, there have never been insufficient funds for a decommissioning project.
The article raises the hypothetical possibility of leaks and fires at closed nuclear facilities and even the theft of used nuclear material.
Closed facilities, and their owners, must follow well-established procedures and are under close regulatory supervision to ensure such problems do not occur.
If we are going to look decades down the road at the worst possible scenarios for retired nuclear power plants, we should also consider the reasonable possibility that America's technological ingenuity will lead to more rapid and lower-cost cleanup processes.
Many countries around the world already reprocess spent nuclear fuel instead of simply storing it. Reprocessing can dramatically reduce the amount of radioactive material and allows for the fuel to be re-used for electric power generation, as is already done in France, the world's leading nuclear power-producing nation. In the United States the Department of Energy has taken the first steps to return to this approach after a 30-year hiatus.
Vermont Yankee is proud to serve Vermont. We provide low-cost power which has saved Vermonters more than $324 million since Entergy purchased the plant in 2002. Furthermore, we have also managed the plant for the long run, making over $250 million in capital investments as we also seek license renewal so that the plant can continue to operate safely and efficiently until 2032.
License renewal will help address decommissioning costs. It will also provide a foundation for Vermont to have abundant, clean, and affordable electricity in the years to come.
Jay Thayer of Stowe is vice president for nuclear operations for Entergy Nuclear, the owner of the Vermont Yankee nuclear power plant.
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