Saturday, January 28, 2017

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NRC approves transfer of decommissioning trust funds for IP3 to Entergy

BUCHANAN – The Nuclear Regulatory Commission has approved the transfer of the decommissioning trust funds for the Indian Point 3 nuclear power plant from the New York Power Authority to Indian Point owner Entergy.

As of December 31, 2015, the Indian Point 3 fund held $683.84 million.

On November 9, 2000, the NRC approved the transfer of the Indian Point 3 plant operating license from the NYPA to Entergy; however, the decommissioning fund was not transferred at that time.

On August 16, 2016, Entergy requested that the NRC approve the transfer of the trust funds, in preparation for the proposed sale of their other nuclear plant, FitzPatrick, from Entergy to Exelon. The decommissioning fund master trust agreement has to be in the name of the current owner-operator in order to be successfully transferred to the proposed new owner.

Along with the FitzPatrick transfer, Entergy asked the NRC to grant it permission to take over the Indian Point 3 fund as well.  Both have now been approved by the federal agency.


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