NRC proposes to adjust for inflation Price-Anderson surety requirements in the event of a reator accident
On July 12, 2013, NRC published its intent to modify its regulations to take effect September 10, 2013.
The Atomic Energy Act of 1954, as amended (AEA), requires the U.S. Nuclear Regulatory Commission (NRC) to adjust the maximum total and annual standard deferred premiums specified in the Price-Anderson Act for inflation at least once during each 5-year period following August 20, 2003. The NRC is amending its regulations to satisfy this requirement.
This Rule document was issued by the Nuclear Regulatory Commission (NRC)For related information, Open Docket Folder
Action
Final rule.
Summary
The Atomic Energy Act of 1954, as amended (AEA), requires the U.S. Nuclear Regulatory Commission (NRC) to adjust the maximum total and annual standard deferred premiums specified in the Price-Anderson Act for inflation at least once during each 5-year period following August 20, 2003. The NRC is amending its regulations to satisfy this requirement.
This rule is effective on September 10, 2013.
Section 604 of the Energy Policy Act of 2005, Public Law 109-58, amended section 170 of the AEA (Price-Anderson Act) to require the NRC to adjust the maximum total and annual standard deferred premiums not less than once during each 5-year period following August 20, 2003, in accordance with the aggregate percentage change in the Consumer Price Index. The NRC made the initial changes to the Price-Anderson Act amounts on October 27, 2005 (70 FR 61885), and the first periodic inflation adjustments on September 29, 2008 (73 FR 56451). This final rule makes the second required periodic inflation adjustments to the maximum total and annual standard deferred premiums.
II. Discussion of the Final Rule
Section 170t., “Inflation Adjustment,” of the AEA requires the NRC to “adjust the amount of the maximum total and annual standard deferred premium under subsection b.(1) not less than once during each 5-year period following August 20, 2003 in accordance with the aggregate percentage change in the Consumer Price Index.” The NRC's implementing regulations for the Price-Anderson Act are found in part 140 of Title 10 of the Code of Federal Regulations (10 CFR). Accordingly, the Commission is amending 10 CFR 140.11, “Amounts of financial protection for certain reactors,” to adjust for the increase in inflation since the last adjustments on September 29, 2008.The September 2008 inflation adjustments raised the maximum total deferred premium in 10 CFR 140.11(a)(4) to $111,900,000 and the maximum annual deferred premium to $17,500,000. The Consumer Price Index used in calculating the September 2008 inflation adjustments was 214.823 (April 2008). The inflation adjustments promulgated in this rulemaking are based on a Consumer Price Index of 232.773 (March 2013). This represents an increase of approximately 8.36 percent. When this increase is applied to the maximum total and annual standard deferred premiums and rounded to the nearest thousand, the new maximum total deferred premium is $121,255,000, and the maximum annual deferred premium is $18,963,000. Section 140.11(a)(4) is being changed accordingly.
Available at http://www.regulations.gov/#!documentDetail;D=NRC-2013-0072-0001
The Atomic Energy Act of 1954, as amended (AEA), requires the U.S. Nuclear Regulatory Commission (NRC) to adjust the maximum total and annual standard deferred premiums specified in the Price-Anderson Act for inflation at least once during each 5-year period following August 20, 2003. The NRC is amending its regulations to satisfy this requirement.
This Rule document was issued by the Nuclear Regulatory Commission (NRC)For related information, Open Docket Folder
Action
Final rule.
Summary
The Atomic Energy Act of 1954, as amended (AEA), requires the U.S. Nuclear Regulatory Commission (NRC) to adjust the maximum total and annual standard deferred premiums specified in the Price-Anderson Act for inflation at least once during each 5-year period following August 20, 2003. The NRC is amending its regulations to satisfy this requirement.
This rule is effective on September 10, 2013.
Section 604 of the Energy Policy Act of 2005, Public Law 109-58, amended section 170 of the AEA (Price-Anderson Act) to require the NRC to adjust the maximum total and annual standard deferred premiums not less than once during each 5-year period following August 20, 2003, in accordance with the aggregate percentage change in the Consumer Price Index. The NRC made the initial changes to the Price-Anderson Act amounts on October 27, 2005 (70 FR 61885), and the first periodic inflation adjustments on September 29, 2008 (73 FR 56451). This final rule makes the second required periodic inflation adjustments to the maximum total and annual standard deferred premiums.
II. Discussion of the Final Rule
Section 170t., “Inflation Adjustment,” of the AEA requires the NRC to “adjust the amount of the maximum total and annual standard deferred premium under subsection b.(1) not less than once during each 5-year period following August 20, 2003 in accordance with the aggregate percentage change in the Consumer Price Index.” The NRC's implementing regulations for the Price-Anderson Act are found in part 140 of Title 10 of the Code of Federal Regulations (10 CFR). Accordingly, the Commission is amending 10 CFR 140.11, “Amounts of financial protection for certain reactors,” to adjust for the increase in inflation since the last adjustments on September 29, 2008.The September 2008 inflation adjustments raised the maximum total deferred premium in 10 CFR 140.11(a)(4) to $111,900,000 and the maximum annual deferred premium to $17,500,000. The Consumer Price Index used in calculating the September 2008 inflation adjustments was 214.823 (April 2008). The inflation adjustments promulgated in this rulemaking are based on a Consumer Price Index of 232.773 (March 2013). This represents an increase of approximately 8.36 percent. When this increase is applied to the maximum total and annual standard deferred premiums and rounded to the nearest thousand, the new maximum total deferred premium is $121,255,000, and the maximum annual deferred premium is $18,963,000. Section 140.11(a)(4) is being changed accordingly.
Available at http://www.regulations.gov/#!documentDetail;D=NRC-2013-0072-0001
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