H.R. 5803: Reactor Expenditure Accountability and Compliance Transparency Act

This bill, titled the Reactor Expenditure Accountability and Compliance Transparency Act (REACT Act), aims to enhance the financial reporting requirements for power reactor licensees that utilize decommissioning trust funds. Decommissioning trust funds are designated for covering the costs associated with safely shutting down and dismantling nuclear reactors after they are no longer in service.

Key Provisions

The bill mandates the Nuclear Regulatory Commission (NRC) to make revisions to an existing regulation (section 50.82 of title 10 of the Code of Federal Regulations) that pertains to the financial assurance status reports submitted by power reactor licensees. The revisions include the following requirements:

• Reporting of Earned Interest: Licensees must report any interest earned on their decommissioning trust funds.
• Projected Annual Rate of Return: Licensees are required to provide an estimate of the annual rate of return projected for these trust funds.
• Expenditure Details: Licensees need to include a comprehensive list detailing expenditures made for decommissioning purposes, specifying how much money has been withdrawn from the decommissioning trust fund for these activities.

Goals of the Bill

The primary goals of the REACT Act are to ensure transparency and accountability in the use of decommissioning trust funds. By requiring detailed financial reporting, the bill seeks to provide greater oversight regarding how these funds are managed and spent. This aims to protect public interests by ensuring that sufficient resources are available for decommissioning activities, thus promoting safety and environmental protection.

Impact on Power Reactor Licensees

Power reactor licensees will be subject to the new reporting requirements if this bill is enacted. This could lead to increased administrative responsibilities as they will need to track and report financial data related to their decommissioning trust funds more rigorously.

Potential Benefits

Supporters may argue that these changes could lead to better management of decommissioning funds, thus ensuring that reactors are decommissioned in a safe and cost-effective manner. Additionally, increased transparency might enhance public confidence in the nuclear energy sector.

Relevant Companies

• EXC - Exelon Corporation: As a major operator of nuclear power plants, Exelon could be directly impacted by any changes in the reporting requirements surrounding decommissioning funds.
• DNN - Denison Mines Corp: This company focuses on the uranium sector and could be indirectly affected through changes in the visibility and regulation of decommissioning practices.
• NEE - NextEra Energy, Inc.: As a significant player in the utility sector with nuclear facilities, NextEra might need to adjust their reporting and expenditure practices if this bill passes.