Holtec International believes it can complete decommissioning of the three-reactor Indian Point Energy Center by 2036, assuming it receives federal authorization to buy the nuclear power plant.
The Camden, N.J., energy technology company laid out its schedule in a presentation to be given today to the U.S. Nuclear Regulatory Commission in advance of the application for transfer of the site’s federal licenses.
Power company Entergy plans to retire Indian Point’s reactor Unit 2 by April 30, 2020, and Unit 3 a year later. Reactor Unit 1 has been shuttered since 1974.
In April, Entergy announced plans to sell the plant to Holtec, which would then assume full responsibility for decommissioning, site restoration, and spent fuel management. First, the NRC must approve the transfer of the plant’s reactor operations and spent fuel storage licenses. There was no immediate word from Holtec and Entergy on when they would file an application with the industry regulator. The companies hope to complete the sale by the third quarter of 2021.
Entergy had previously planned to transfer used fuel from the two reactors into dry storage by 2024, then place the facilities in “safe storage” (SAFSTOR) mode until 2069. Units 1, 2, and 3 would then be decommissioned in sequence through 2077, at which time their NRC licenses would be terminated.
Holtec is offering a significantly expedited schedule, with decommissioning and site restoration conducted from 2024 to 2036, according to the presentation. At that point the site license would be amended solely to address the spent fuel storage pad. That license would remain in effect until the used fuel is removed for off-site storage or disposal.
The decommissioning trusts for Indian Point’s reactors held $2.1 billion as of Sept. 30. While the presentation does not provide a specific cost estimate for decommissioning, it says the trusts would be sufficient to cover Holtec’s costs for all cleanup and spent fuel management at Indian Point. The company would expect to retain some portion of the trusts once decommissioning is complete.
Holtec plans to buy several retired or soon-to-close power plants for decommissioning.
