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Vermont Yankee nuclear plant’s ‘decommissioning’ funds inadequate

Vermont Yankee’s decommissioning fund is no exception

Auditor: More Oversight on Yankee Shutdown Fund Needed. Report on Fund Doesn’t Reveal Details Of Shortfall , WPTZ Plattsburgh, August 31, 2010 MONTPELIER, Vt. — Perhaps you’ve noticed your 401-k account isn’t what it used to be? Neither are the balances in most of the nation’s nuclear power plant decommissioning funds, money used to pay to decontaminate and cleanup each site.

Vermont Yankee’s decommissioning fund is no exception, though a new report by State Auditor Tom Salmon does not attempt to quantify by how much.Instead, auditors judged VY investment funds are too exposed to market ups and downs, and said fund managers lack adequate state oversight……
The report also recommended “increasing the frequency of how often the fund is evaluated.” Salmon said, suggesting that “rather than every 5 years every 2.5 years would be more prudent.”VY is scheduled to stop producing electricity in March, 2012 unless owners win an extension from state and federal regulators.Administration officials were unavailable for comment Tuesday afternoon on Salmon’s review.

Auditor: More Oversight on Yankee Shutdown Fund Needed – News Story – WPTZ Plattsburgh

September 2, 2010 - Posted by Christina Macpherson | decommission reactor, USA | antinuclear, nuclear, nuclear costs, nuclear decommissioning, radiation, reactor