NRC to look at longer-term storage of nuclear spent fuel, hoping to triple
Washington - September 13, 2010
Also on Platts Energy Week TV: Nat. Gas Fueling Ships & Utility Dividend Tax Increases
Nuclear Regulatory Commission (NRC) plans to consider the consequences of storing spent reactor fuel at power-plant and other industry sites for up to 300 years are intended to provide assurances that the material can be managed safely, especially in light of doubts over government efforts to provide permanent disposal, NRC Chairman Gregory Jaczko said Sunday.
Speaking on the all-energy television program Platts Energy Week, Jaczko said, "This effort is to make sure, with the uncertainty we have right now with the program for geologic disposal, that we've covered all the bases and made sure no matter what happens in the future, we can ensure that spent fuel will be safe and secure." To watch the full Jaczko interview, click here.
Jaczko said NRC remains confident that utilities can continue to store spent fuel at reactors or other sites "probably for the next several decades, up to 100 years." But he added that he wants the commission to take a longer perspective as it conducts a rulemaking to arrive at a new "waste-confidence determination."
"What the commission is looking at right now is what happens in the next century or several centuries after that to make sure we have everything in place right now to ensure that fuel will continue to be safe and secure for the next several hundred years," he said. "That's a new effort that the commission is taking a look at right now, and over the next several years."
Under the Obama administration, the U.S. Department of Energy (DOE) has abandoned a project to build an underground repository for spent fuel and nuclear waste at Yucca Mountain in Nevada. Earlier this year, DOE sought NRC's permission to withdraw the department's application for a license for the project. The request is pending before the commission.
With its decision, the administration also appointed a blue-ribbon commission to study options for dealing with spent fuel and nuclear waste. The commission is scheduled to report to Energy Secretary Steven Chu next year.
NRC's waste-confidence determination, last made by the commission in 1990, reflects its belief that the U.S. can safely store and dispose of spent fuel. It is a key consideration for NRC in approving applications to build reactors or extend operations at existing reactors. It is also critical to industry decisions to build and finance nuclear projects.
NRC has never relied on the success of a government repository program in making the determination, looking instead at prospects for storing spent fuel at reactors or other industry sites.
Also on the program: Natural gas heads out to sea. Platts Energy Week host Bill Loveless spoke with John Hatley, vice president of ship power for Wartsila North America, regarding the growing market for natural gas as fuel for ships. Hatley explained how tighter environmental regulation and ample supply could make gas a fuel of choice in marine engines. Click on this link to hear the discussion in full.
With regard to the electric utility industry, program guests told Bill Loveless about potential for serious problems ahead for the investment environment when taxation on dividends could jump from 15% to 40%. The investing climate for power could change significantly as the pending expiration of Bush Administration tax cuts approaches, suggesting higher taxes on utility dividends. Click on this link to hear the panel discussion by Richard McMahon, executive director of energy supply for the Edison Electric Institute, and Kevin Book, managing director of research at ClearView Energy Partners.
To hear Sunday’s “Market Spotlight,” where Bill Loveless reviews the factors shaping the outlook for crude oil and gasoline in the weeks and months ahead and invites viewer opinion, click this link.
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