New Hampshire Revised Statutes 162-F:22 – Changes to the Fund; Payment Schedule; Funding Assurance
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I. Every 4 years the committee shall meet to review the fund and may increase or decrease the projected cost of decommissioning the facility and the schedule of payments into the fund. Reasons for increasing or decreasing the projected cost of decommissioning and schedule of payments include, but are not limited to, changes in owner or owners, the financial condition of an owner or owners, need, safety, reliability, technology, or other changes in circumstances.
II. The committee shall meet at least once each calendar year to review the cumulative fund performance and each funding assurance in place pursuant to an order of the committee, and the committee may alter the payment schedule, or require a change in any funding assurance to ensure adequate funding by each owner of its decommissioning obligation.
III. At any time the committee may meet to determine whether the amount of the fund, schedule of payments, or any funding assurance in place pursuant to an order of the committee shall be increased, decreased, or otherwise altered for reasons including changes in owner or owners, the financial condition of an owner or owners, need, safety, reliability, technology, or other changes in circumstances.
IV. Prepayment of a funding obligation by an owner or owners, or the payment of the minimum decommissioning funding requirements of the Nuclear Regulatory Commission pursuant to N.H. Rev. Stat. § 162-F:21-a, shall not require another owner to make such a payment.
V. Prior to altering the projected cost of decommissioning the facility, the committee shall hold at least one public hearing in the city or town where the facility is located. All testimony shall be transcribed and made a permanent record. Prior to changing the projected cost of decommissioning or imposing a funding assurance requirement for an ownership interest, the committee shall conduct an adjudicative proceeding. Prior to the transfer of an ownership interest the committee may, by a non-adjudicative proceeding, approve proposed funding assurances and make any necessary associated changes to a schedule of payments to reflect the approved funding assurances.
II. The committee shall meet at least once each calendar year to review the cumulative fund performance and each funding assurance in place pursuant to an order of the committee, and the committee may alter the payment schedule, or require a change in any funding assurance to ensure adequate funding by each owner of its decommissioning obligation.
Terms Used In New Hampshire Revised Statutes 162-F:22
- Committee: means a nuclear decommissioning financing committee established pursuant to N. See New Hampshire Revised Statutes 162-F:14
- Decommissioning: means , but is not limited to, any or all of the following, as may be required by any federal or state agency with jurisdiction, when any radioactive portion of the facility is permanently removed from service:
(a) Safe removal of the land, facility, or site from service, including, but not limited to, decontamination, stabilization, removal, relocation, shipment, containment, demolition, dismantling, or storage, or a combination thereof, of any buildings, structures, systems, components, materials, or debris containing activation products or radioactive contamination. See New Hampshire Revised Statutes 162-F:14 - Facility: means any nuclear electric generating facility subject to decommissioning pursuant to this chapter. See New Hampshire Revised Statutes 162-F:14
- Fund: means a nuclear decommissioning financing fund established pursuant to N. See New Hampshire Revised Statutes 162-F:14
- Funding assurance: means any prepayment, external sinking funds, parental or self-guarantee, insurance, bonds, letters of credit, form of surety, long-term power sales contract, or other method, or combination of methods approved by the committee, that, in the aggregate, meets or exceeds the decommissioning funding requirements established by the committee. See New Hampshire Revised Statutes 162-F:14
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Projected cost of decommissioning: means the amount, as determined by the committee, that is required to fully fund the cost of decommissioning a facility. See New Hampshire Revised Statutes 162-F:14
- Testimony: Evidence presented orally by witnesses during trials or before grand juries.
III. At any time the committee may meet to determine whether the amount of the fund, schedule of payments, or any funding assurance in place pursuant to an order of the committee shall be increased, decreased, or otherwise altered for reasons including changes in owner or owners, the financial condition of an owner or owners, need, safety, reliability, technology, or other changes in circumstances.
IV. Prepayment of a funding obligation by an owner or owners, or the payment of the minimum decommissioning funding requirements of the Nuclear Regulatory Commission pursuant to N.H. Rev. Stat. § 162-F:21-a, shall not require another owner to make such a payment.
V. Prior to altering the projected cost of decommissioning the facility, the committee shall hold at least one public hearing in the city or town where the facility is located. All testimony shall be transcribed and made a permanent record. Prior to changing the projected cost of decommissioning or imposing a funding assurance requirement for an ownership interest, the committee shall conduct an adjudicative proceeding. Prior to the transfer of an ownership interest the committee may, by a non-adjudicative proceeding, approve proposed funding assurances and make any necessary associated changes to a schedule of payments to reflect the approved funding assurances.