CURRENT REGULATORY ISSUES

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1 Nuclear Decommissioning Trust Fund Study Group 2014 Annual Conference May 18 21, 2014 CURRENT REGULATORY ISSUES Shawn W. Harwell, U.S. NRC Financial Analyst Financial Analysis and International Projects Branch 1

2 Topics for Discussion 2013 Decommissioning Funding Status (DFS) Report 2015 DFS Report Decommissioning Planning Rule (DPR) Implementation 10 CFR Reporting Part 72 Reporting Other Current Regulatory Issues Foreign Ownership, Control, or Domination Investment reviews Financial Qualifications for Power Reactors 2

3 2013 DFS Report Amount accumulated in DTFs for the purpose of radiological decommissioning, as of December 31, 2012 totaled $45.7 billion Total amount accumulated represents a 13.1 percent increase from total amount accumulated reported in 2010 ($40.4 billion) As of December 31, 2012, 100 of 104 operating power reactor licensees were providing funding assurance 3

4 2013 DFS Report All four reactors not providing funding assurance as of December 31, 2012, provided information to resolve their shortfalls in conjunction with their 2012 DFS reports Two units committed to increase amount of supplemental Parent Company Guarantees Two units submitted information showing DTF balances increased sufficiently to meet requirements as of report date Complete report can be found in NRC s Agencywide Documents Access and Management System (ADAMS) under Accession Nos. ML13266A068 Review underway of annual DFS reports for operating reactors, pursuant to 10 CFR (f)(2), reflecting information as of December 31,

5 2015 DFS Report Report on Waste Burial Charges: Changes in Decommissioning Waste Disposal Costs at Low-Level Waste Burial Facilities (NUREG-1307, Revision 15) Published January 2013 Will not be revised for the 2015 Biannual DFS Reporting cycle What does this mean for the 2015 DFS reports? The NRC and licensees will use the LLW burial factors (Bx) listed in NUREG-1307, Rev 15 Updated Energy and Labor factors (Ex, Lx) can still be derived from factors provided by U.S. BLS And the 2017 DFS reports? NUREG-1307 is slated for revision prior to the 2017 report cycle NRC Staff is currently preparing a Regulatory Issue Summary for notification purposes 5

6 DPR Implementation 10 CFR Reporting Review underway of annual DFS reports for reactors currently in decommissioning (or SAFSTOR) due March 31, 2014, reflecting information as of December 31, 2013 Part 72 (ISFSI) Reviews Review of remaining submittals ongoing Guidance for industry on reporting will be developed and issued after completion of reviews of remaining licensees 6

7 Other Current Regulatory Issues Foreign Ownership, Control, or Domination On March 11, 2013, SRM issued directing staff to provide a fresh assessment on issues relating to FOCD including: FOCD up to and including 100 percent indirect foreign ownership Criteria for assessing proposed negation action plans for direct or indirect foreign ownership or financing of more than 50 percent but less than 100 percent The availability of alternative methods for resolving FOCD NRC s interpretation of ownership Paper incorporates comments from stakeholders such as the public, industry, and other government agencies Paper is scheduled to be delivered to Commission in June

8 Other Current Regulatory Issues Spot Checks and DTF Investment Reviews GAO report suggested that: 1) NRC increase DTF reporting oversight; 2) staff sample licensees to ensure compliance with investment standards in 10 CFR 50.75(h) (GAO ) There has some been correspondence from both the Chairman of the NRC and Members of Congress directing the staff to look into the topic Staff is currently developing an Commission paper on the topic that will include information related to investment restrictions and options for addressing GAO recommendations (Fall 2014) 8

9 Other Current Regulatory Issues Financial Qualifications for Reactors On April 24, 2014, the Commission issued Staff Requirements (SRM) SECY Policy Options for Merchant Plant Financial Qualifications to NRC Staff Option 2 engage in a rulemaking to amend 10 CFR Part 50 financial qualifications requirements to 10 CFR Part 70 standards ( appears to be financially qualified ) Staff further directed to perform a careful examination of decommissioning funding regulations to ensure against unintended impacts on the agency s decommissioning funding rules 9

10 Questions? Shawn Harwell Financial Analysis and International Projects Branch, DIRS Office of Nuclear Reactor Regulation U.S. Nuclear Regulatory Commission 10

11 Bio Shawn W. Harwell, U.S. NRC Shawn Harwell is a financial analyst in the Financial Analysis and International Projects Branch with the U.S. Nuclear Regulatory Commission s (NRC) Office of Nuclear Reactor Regulation. Mr. Harwell has over 5 years of experience with the Federal government, where he has been concentrating on the areas of financial qualifications, decommissioning funding assurance, foreign ownership, control, and domination compliance, and financial policy as it relates to nuclear reactor regulation. Prior to joining the NRC, Mr. Harwell served in the U.S. Navy as a Chief Reactor Auxiliaries Operator aboard the USS Enterprise. He holds a B.A. in Economics with a concentration in Explorations in Conflict and Resolution from Old Dominion University and a Master of Public Policy with specialization in International Security and Economic Policy from the University of Maryland School of Public Policy. 11