Re:Nuclear turn green as EU parliament approves new taxonomy
by neuronexmachina on Thursday July 07, 2022 @01:42PM
(#32017014)
> In the US it's $0.35 billion.
I was curious about this figure, found info here. Also, apparently the Price-Anderson Act which created the liability limit was passed in 1957, and there's a reasonable argument to be made that it no longer makes sense now that nuclear technology has matured: https://www.nrc.gov/reading-rm/doc-collections/fact-sheets/n...
> Over time, the "limit of liability" for a nuclear accident has increased the insurance pool to more than $13 billion.
>
> Currently, owners of nuclear power plants pay an annual premium for $450 million in private insurance for offsite liability coverage for each reactor site (not per reactor). This primary, or first tier, insurance is supplemented by a second tier. In the event a nuclear accident causes damages in excess of $450 million, each licensee would be assessed a prorated share of the excess, up to $131.056 million per reactor. With 95 reactors currently in the insurance pool, i this secondary tier of funds contains about $12.9 billion. Payouts in excess of 15 percent of these funds require a prioritization plan approved by a federal district court. If the court determines that public liability may exceed the maximum amount of financial protection available from the primary and secondary tiers, each licensee would be assessed a pro rata share of this excess not to exceed 5 percent of the maximum deferred premium ($131.056 million); approximately $6.553 million per reactor. If the second tier is depleted, Congress is committed to determine whether additional disaster relief is required.
I was curious about this figure, found info here. Also, apparently the Price-Anderson Act which created the liability limit was passed in 1957, and there's a reasonable argument to be made that it no longer makes sense now that nuclear technology has matured: https://www.nrc.gov/reading-rm/doc-collections/fact-sheets/n...
> Over time, the "limit of liability" for a nuclear accident has increased the insurance pool to more than $13 billion. > > Currently, owners of nuclear power plants pay an annual premium for $450 million in private insurance for offsite liability coverage for each reactor site (not per reactor). This primary, or first tier, insurance is supplemented by a second tier. In the event a nuclear accident causes damages in excess of $450 million, each licensee would be assessed a prorated share of the excess, up to $131.056 million per reactor. With 95 reactors currently in the insurance pool, i this secondary tier of funds contains about $12.9 billion. Payouts in excess of 15 percent of these funds require a prioritization plan approved by a federal district court. If the court determines that public liability may exceed the maximum amount of financial protection available from the primary and secondary tiers, each licensee would be assessed a pro rata share of this excess not to exceed 5 percent of the maximum deferred premium ($131.056 million); approximately $6.553 million per reactor. If the second tier is depleted, Congress is committed to determine whether additional disaster relief is required.