V.S.A. tit. 10, ch. 157, subch. 2 — Dry Cask Storage Authorization of 2005 | Vermont Statutes Annotated (through the 2026 session) — Vermont

10 V.S.A. § 6521 Findings

6521. Findings The General Assembly finds: (1) The Vermont Yankee nuclear power station (Vermont Yankee) in Vernon provides a very large fraction of the State’s power supply and is by far the largest power plant operating in the State. (2) Whether the plant runs to the end of its current license, is relicensed by the federal government, or is required to shut down on short notice, that large fraction of the State’s supply will need to be replaced. (3) The State’s future power supply should be diverse, reliable, economically sound, and environmentally sustainable. (4) In order to make a smooth transition to the future, the State needs to accelerate Vermont’s investment in electricity resources that are economically and environmentally sound and that can be acquired in modest increments. (5) In making this transition, there is a great value in investing in renewable energy sources; efficient, combined heat and power facilities; and energy efficiency. (6) In support of these objectives, the General Assembly and Public Service Board have: (A) Created the Statewide Energy Efficiency Fund and authorized significant ratepayer charges to support cost-effective investments in end-use energy efficiency resources. (B) Provided significant support for renewable resources through the creation of a statewide purchasing pool with long-term contracts for qualifying facilities, and a renewable portfolio standard, and are creating a related program to accelerate investments in new renewable and combined-heat and power projects. (C) Assured that these resources are supported financially by Vermont’s utilities and ratepayers, including the former owners of Vermont Yankee. (7) In addition to these existing mechanisms, there is a need for a Clean Energy Development Fund to support investment in clean energy resources in order to permit adequate power supply diversity. Added 2005, No. 74, § 2.

10 V.S.A. § 6522 Public Utility Commission review of proposals for new storage facilities for spent nuclear fuel

6522. Public Utility Commission review of proposals for new storage facilities for spent nuclear fuel (a) Neither the owners of Vermont Yankee nor their successors and assigns shall commence construction or establishment of any new storage facility for spent nuclear fuel before receiving a certificate of public good from the Public Utility Commission pursuant to 30 V.S.A. § 248. Standards generally applicable to substantial modification of facilities with certificates of public good under 30 V.S.A. § 248 shall apply to any future alterations of any permitted facility. (b) In addition to all other applicable criteria of 30 V.S.A. § 248, before granting a certificate of public good for a new or altered spent nuclear fuel facility, the Public Utility Commission shall find that: (1) Adequate financial assurance exists for the management of spent fuel at Vermont Yankee for a time period reasonably expected to be necessary, including through decommissioning, and for as long as it is located in the State. (2) The applicant has made commitments to remove all spent fuel from Vermont to a federally certified long-term storage facility in a timely manner, consistent with applicable federal standards. (3) The applicant has developed and will implement a spent fuel management plan that will facilitate the eventual removal of those wastes in an efficient manner. (4) The applicant is in substantial compliance with any memoranda of understanding entered between the State and the applicant. (c) In addition, the following limiting conditions shall apply: (1) Any certificate of public good issued by the Commission shall permit storage only of spent fuel that is derived from the operation of Vermont Yankee and not from any other source. (2) Any certificate of public good issued by the Commission shall limit the cumulative total amount of spent fuel stored at Vermont Yankee to the amount derived from the operation of the facility up to, but not beyond, March 21, 2012, the end of the current operating license. Authorized capacity may include on-site storage capacity to accommodate full core offload or any order or requirement of the Nuclear Regulatory Commission with respect to the fuel derived from these operations. (3) The requirement to obtain a certificate of public good from the Commission for this purpose applies to Vermont Yankee, regardless of who owns the facility, and the conditions of the certificate of public good and the requirements of this subchapter will apply to any future owner. (4) Compliance with the provisions of this subchapter shall constitute compliance with the provisions of this chapter that require that approval be obtained from the General Assembly before construction or establishment of a facility for the deposit or storage of spent nuclear fuel, but only to the extent specified in this subchapter or authorized under this subchapter. The Public Utility Commission is authorized to hear and issue a certificate of public good for such a facility under 30 V.S.A. § 248 to the extent specified or authorized in this subchapter. Other agencies of the State also may receive and act on applications related to the construction or establishment of such a facility, provided that any approval for such a facility applies only to the extent specified or authorized in this subchapter. Storage of spent fuel derived from the operation of Vermont Yankee after March 21, 2012 shall require the approval of the General Assembly under this chapter. (5) Compliance with the provisions of this subchapter shall not confer any expectation or entitlement to continued operation of Vermont Yankee following the expiration of its current operating license on March 21, 2012. Before the owners of the generation facility may operate the generation facility beyond that date, they must first obtain a certificate of public good from the Public Utility Commission under Title 30. Added 2005, No. 74, § 2.