Funds To Shut Nuclear Plants Fall Short

The Callaway Unit 1 reactor near Fulton, Mo., reported in March that meeting the NRC savings target for decommissioning would leave it far short of the real cost of cleaning up the site.

It began with a story similar to those told by other plants: The cost to meet the minimum federal requirement for decommissioning rose from $358 million to $406 million in two years. Its savings to pay for it dwindled from $268 million to $236 million.

But a detailed study of the cost of decommissioning Callaway showed something far worse: The federal savings target was about $288 million less than what it would actually cost for a full dismantling, cleanup and safe storage of spent nuclear waste.

The waste disposal problem has become especially acute since the federal government scrapped plans to store nuclear waste at a secure facility in Yucca Mountain, Nev. Instead, radioactive fuel rods are now stored in large concrete and steel canisters on plant grounds that are guarded around the clock and tested often for leaks.

The Vermont Yankee plant, in southeastern Vermont along the banks of the Connecticut River, was hailed as the future of power production for New England when it opened in 1972. Its license is set to expire in 2012, and its decommissioning fund has less than half the money expected to be needed.