The Nuclear Regulatory Commission is issuing an exemption that allows Vermont Yankee Nuclear Power Plant owner Entergy to reduce its on-site insurance from about $1 billion to $50 million.
In a notice issued this week, NRC reasoned that because Vermont Yankee is shut down, the severity of potential accidents that could occur at the plant has been greatly reduced, and therefore there is much less risk for property damage. The notice is effective Monday.
“The proposed reduction in the amount of onsite insurance coverage does not impact the probability or consequences of potential accidents,” the notice reads. “The proposed level of insurance coverage is commensurate with the reduced consequences of potential nuclear accidents at VY. Therefore, the NRC staff concludes that granting the requested exemption will not present an undue risk to the health and safety of the public.”
