Old Rocks
Diamond Member
$13 billion. I am so impressed.Nuclear Insurance: Price-Anderson Act
The Price-Anderson Act became law on Sept. 2, 1957, to cover liability claims of members of the public for personal injury and property damage caused by a commercial nuclear power plant accident. The legislation helped encourage private investment in commercial nuclear power by placing a cap, or ceiling, on the total amount of liability each nuclear power plant licensee faced in the event of an accident. 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 98 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.
Fukushima’s Final Costs Will Approach A Trillion Dollars Just For Nuclear Disaster
There’s a reasonable case for an identifiable $800 billion in costs for the nuclear portion of the Fukushima disaster. It’s not hard to see that a 40-year recovery period along with costs excluded from this could add 25% to that without breaking a sweat.
Fukushima's Final Costs Will Approach A Trillion Dollars Just For Nuclear Disaster
There’s a case for an identifiable $800 billion in costs for the nuclear portion of the Fukushima disaster so over 40 years hitting a trillion is easy.
cleantechnica.com
Fukushima's Final Costs Will Approach A Trillion Dollars Just For Nuclear Disaster
There’s a case for an identifiable $800 billion in costs for the nuclear portion of the Fukushima disaster so over 40 years hitting a trillion is easy.
cleantechnica.com
Completely cleaning up and taking apart the plant could take a generation or more, and comes with a hefty price tag. In 2016 the government increased its cost estimate to about $75.7 billion, part of the overall Fukushima disaster price tag of $202.5 billion. The Japan Center for Economic Research, a private think tank, said the cleanup costs could mount to some $470 billion to $660 billion, however.
Clearing the Radioactive Rubble Heap That Was Fukushima Daiichi, 7 Years On
The water is tainted, the wreckage is dangerous, and disposing of it will be a prolonged, complex and costly process
