S T A T E O F N E W Y O R K
________________________________________________________________________
1217
2011-2012 Regular Sessions
I N A S S E M B L Y
(PREFILED)
January 5, 2011
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Introduced by M. of A. PAULIN, THIELE, JAFFEE -- Multi-Sponsored by --
M. of A. BARRON, GOTTFRIED -- read once and referred to the Committee
on Corporations, Authorities and Commissions
AN ACT to amend the public service law, in relation to returning to
ratepayers costs paid by them in excess of estimated costs for nuclear
electric generating facility decommissioning
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Section 5 of the public service law is amended by adding a
new subdivision 7 to read as follows:
7. A. NO LATER THAN ONE YEAR FROM THE EFFECTIVE DATE OF THIS SUBDIVI-
SION, THE COMMISSION SHALL DEVELOP AND ADOPT A METHODOLOGY FOR DETERMIN-
ING ALL COSTS WHICH WERE OR ARE TO BE PASSED ON TO RATEPAYERS BY LICEN-
SEES OF NUCLEAR ELECTRIC GENERATING FACILITIES FOR PURPOSES OF FINANCIAL
ASSURANCE FOR DECOMMISSIONING, PURSUANT TO TITLE 10, PART 50 ET SEQ. OF
THE CODE OF FEDERAL REGULATIONS, IN EXCESS OF THE ACTUAL COSTS OF DECOM-
MISSIONING. IN DEVELOPING SUCH METHODOLOGY, THE COMMISSION SHALL TAKE
INTO ACCOUNT AND STRICTLY SCRUTINIZE THE ROLE OF INFLATION, INTEREST,
ACTUAL COSTS OF DECOMMISSIONING, COST ADJUSTMENTS, DEPOSITS INTO AND
WITHDRAWALS FROM ANY AND ALL FINANCIAL ASSURANCE ACCOUNTS FOR DECOMMIS-
SIONING COSTS, AND THE ROLE OF OTHER FACTORS THE COMMISSION DEEMS NECES-
SARY TO ENSURE THAT RATEPAYERS ARE FULLY REIMBURSED FOR ALL SUCH COSTS.
B. UPON ADOPTING SUCH METHODOLOGY, THE COMMISSION SHALL REQUIRE LICEN-
SEES OF NUCLEAR ELECTRIC GENERATING FACILITIES TO (1) RETURN ANY AND ALL
COSTS WHICH IT DETERMINES, BY USING SUCH METHODOLOGY, WERE PASSED ON TO
RATEPAYERS FOR PURPOSES OF FINANCIAL ASSURANCE FOR DECOMMISSIONING
COSTS, REQUIRED PURSUANT TO TITLE 10, PART 50 ET SEQ. OF THE CODE OF
FEDERAL REGULATIONS, IN EXCESS OF THE ESTIMATED COSTS OF DECOMMISSIONING
AND (2) CEASE TO CHARGE OR COLLECT ANY SUCH EXCESSIVE AMOUNTS.
S 2. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.