Sec. 16-19o. Decommissioning financing plan. Updates. Hearing approval. - Connecticut Statutes

      Sec. 16-19o. Decommissioning financing plan. Updates. Hearing approval. (a) The Department of Public Utility Control shall hold a public hearing on each proposed decommissioning financing plan submitted under section 16-19n. The department may hold such hearing in conjunction with its proceedings on a proposed rate amendment filed by an owner of the facility under section 16-19.

      (b) The department shall approve such a plan if it finds that the licensee has provided reasonable assurances that: (1) The estimated time of closing of the nuclear power generating facility and the estimated cost of decommissioning are reasonable; (2) the licensee and the owners of the facility can adequately fund the decommissioning; (3) the share of the estimated cost of decommissioning for each owner of the facility is reasonable; (4) the plans and options for insuring against or otherwise financing any shortfall in decommissioning funds resulting from a premature closing are adequate and reasonable; (5) the owners are legally bound to accept their respective shares of the ultimate financial responsibility for decommissioning as provided under section 16-19q; and (6) the plan will periodically be reviewed and revised to reflect more closely the costs and available techniques for decommissioning. The licensee shall update its plan any time any significant economic or technological change in the decommissioning, as determined by the department, in consultation with the Department of Environmental Protection, occurs, provided the plan is updated in years seven, five, three, two and one prior to the expiration of its operating license.

      (c) If the department finds that the decommissioning plan does not meet the criteria under subsection (b) of this section, it shall reject the plan and order that it be modified as the department deems necessary to meet such criteria.

      (P.A. 83-343, S. 3; P.A. 92-21, S. 2, 3.)

      History: P.A. 92-21 amended Subsec. (b) requiring the updating of a decommissioning plan in certain years prior to decommissioning.