Funds To Shut Nuclear Plants Fall Short

Nuclear power critics say those plans are not enough.

"No one at the NRC wants to acknowledge what is absolutely obvious to us, that the funds are inadequate and that the industry has bare assets," said Arnold Gundersen, a retired nuclear engineer and decommissioning expert.

Those critics say the industry is making assumptions about their investments that do not account for another market collapse, political obstacles to getting the licenses renewed and unforeseen safety problems that could make nuclear power less palatable.

Last week, British officials reported on a 2007 leak in a cooling tank at the decommissioned Sizewell-A nuclear plant. If the leak had not been promptly discovered, officials said, nuclear fuel rods could have caught fire and sent airborne radioactive waste along the English coast, harming plant operators or the public.

The average cost of dismantling a nuclear reactor is now estimated now at $450 million. The average plant owner has about $300 million saved up for the job. Typically, the money is raised through a small surcharge on electric rates.

NRC records show utilities are trying to close the gaps: