42 USC 16014 - Standby support for certain nuclear plant delays

U.S Code last checked for updates: Nov 26, 2024

§ 16014.

Standby support for certain nuclear plant delays

(a)

Definitions

In this section:

(1)

Advanced nuclear facility

(2)

Combined license

(3)

Commission

(4)

Sponsor

(b)

Contract authority

(1)

In general

(2)

Requirement for contracts

(A)

Definition of loan cost

(B)

Establishment of accounts

There is established in the Department 2 separate accounts, which shall be known as the—

(i)

“Standby Support Program Account”; and

(ii)

“Standby Support Grant Account”.

(C)

Requirement

The Secretary shall not enter into a contract under this section unless the Secretary deposits—

(i)

in the Standby Support Program Account established under subparagraph (B), funds appropriated to the Secretary in advance of the contract or a combination of appropriated funds and loan guarantee fees that are in an amount sufficient to cover the loan costs described in subsection (d)(5)(A); and

(ii)

in the Standby Support Grant Account established under subparagraph (B), funds appropriated to the Secretary in advance of the contract, paid to the Secretary by the sponsor of the advanced nuclear facility, or a combination of appropriations and payments that are in an amount sufficient 1

 So in original. Probably should be followed by “to”.

cover the costs described in subparagraphs (B), (C), and (D) of subsection (d)(5).

(c)

Covered delays

(1)

Inclusions

Under each contract authorized by this section, the Secretary shall pay the costs specified in subsection (d), using funds appropriated or collected for the covered costs, if full power operation of the advanced nuclear facility is delayed by—

(A)

the failure of the Commission to comply with schedules for review and approval of inspections, tests, analyses, and acceptance criteria established under the combined license or the conduct of preoperational hearings by the Commission for the advanced nuclear facility; or

(B)

litigation that delays the commencement of full-power operations of the advanced nuclear facility.

(2)

Exclusions

The Secretary may not enter into any contract under this section that would obligate the Secretary to pay any costs resulting from—

(A)

the failure of the sponsor to take any action required by law or regulation;

(B)

events within the control of the sponsor; or

(C)

normal business risks.

(d)

Covered costs

(1)

In general

(2)

Initial 2 reactors

In the case of the first 2 reactors that receive combined licenses and on which construction is commenced, the Secretary shall pay—

(A)

100 percent of the covered costs of delay; but

(B)

not more than $500,000,000 per contract.

(3)

Subsequent 4 reactors

In the case of the next 4 reactors that receive a combined license and on which construction is commenced, the Secretary shall pay—

(A)

50 percent of the covered costs of delay that occur after the initial 180-day period of covered delay; but

(B)

not more than $250,000,000 per contract.

(4)

Conditions on payment of certain covered costs

(A)

In general

(B)

Non-Federal sources

(5)

Types of covered costs

Subject to paragraphs (2), (3), and (4), the contract entered into under this section for an advanced nuclear facility shall include as covered costs those costs that result from a delay during construction and in gaining approval for fuel loading and full-power operation, including—

(A)

principal or interest on any debt obligation of an advanced nuclear facility owned by a non-Federal entity; and

(B)

the incremental difference between—

(i)

the fair market price of power purchased to meet the contractual supply agreements that would have been met by the advanced nuclear facility but for the delay; and

(ii)

the contractual price of power from the advanced nuclear facility subject to the delay.

(e)

Requirements

(f)

Reports

(g)

Regulations

(1)

In general

(2)

Interim final rulemaking

(3)

Notice of final rulemaking

(h)

Authorization of appropriations

(Pub. L. 109–58, title VI, § 638, Aug. 8, 2005, 119 Stat. 791.)

cite as: 42 USC 16014