While the nuclear industry estimates the U.S. Energy Department’s remaining liabilities for nuclear waste disposal at $50 billion, DOE regards that number as “highly inflated,” projecting remaining damages at $24.7 billion.
That’s according to the department’s Nuclear Waste Fund audit report for fiscal 2016, which was monitored by the DOE Inspector General’s Office and made public Monday. DOE is involved in several lawsuits tied to its failure to accept nuclear waste from utilities by 1998, as mandated in the amended Nuclear Waste Policy Act of 1982. The Yucca Mountain geologic repository in Nevada was supposed to hold that material, but the Obama administration killed the project in 2010 in favor of a “consent-based” approach in which one or more permanent waste storage sites would be ready by the late 2040s.
DOE has entered into agreements to accept nuclear waste from 45 utilities. According to the report, 79 cases with the utilities have either been settled or are subject to a judgment in trial court. The Treasury Department’s Judgment Fund has paid $6.1 billion in damages through Sept. 30, according to the report, and based on settlement projections, the total liability estimate is $30.8 billion, leaving $24.7 billion as of the end of fiscal 2016 on Sept. 30.
The OIG-monitored audit was conducted by independent public accounting firm KPMG, which was tasked with offering opinions on the fund’s financial statement, internal controls, and compliance with laws and regulations. According to KPMG, DOE’s financial statements have been presented fairly.