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Yucca Mountain Project Update

Yucca Mountain Project Update. Presented to: National Association of Regulatory Utilities Commissioners Winter Meeting. Presented by: Edward F. Sproat, III Director, Office of Civilian Radioactive Waste Management U.S. Department of Energy February 18, 2008 Washington, DC.

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Yucca Mountain Project Update

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  1. Yucca Mountain Project Update Presented to: National Association of Regulatory Utilities Commissioners Winter Meeting Presented by: Edward F. Sproat, III Director, Office of Civilian Radioactive Waste Management U.S. Department of Energy February 18, 2008 Washington, DC

  2. Program Key Milestones • Design for License Application Complete- Nov. 2007 • Actual: Completed 12/1/07 • LSN Certification- December 2007 • Actual: October 19, 2007 • Supplemental EIS- May 2008 • Actual: Draft Issued October 2007/Hearings completed • License Application Submittal- June 2008 • On schedule as of January 1, 2008 • Impact of $108M FY 08 appropriations reduction currently being evaluated

  3. Program Key Milestones(cont’d) • Start Nevada Rail Construction- October 2009 • Delayed- Inadequate funding to proceed with design • YM Construction Authorization- September 2011 • Best achievable date • Operating License Submittal- March 2013 • Predicated on Funding and Construction Schedule • Rail Line Operational- June 2014 • 2016 is achievable only if adequate funding is provided • Begin Receipt- March 2017 (Best Achievable Date) • Currently under evaluation and expected to slip due to FY ’07 and ’08 actual funding shortfalls • Firm date cannot be set until funding issue resolved

  4. OCRWM Releases • Independent Assessments (on website) • QAMA • Quality Assurance Programs • Engineering Processes • TSLCC • Being revised to include current and constant dollars • Final SEIS • License Application • Fee Adequacy Determination • Second Repository Report • Interim Storage Report

  5. The Nuclear Waste Fund • Current Balance • Approximately $20.5B • Held in laddered portfolio of Treasury instruments • Interest is reinvested • Annual Revenues Approximately $750M • Access • Current scoring of revenues does not allow offset against appropriations • Repository funding competes against other government priorities • Opening date cannot be accurately forecast unless funding mechanism is fixed per the intent of the NWPA

  6. Program Challenges • FY ’08 Appropriations • Access to Nuclear Waste Fund • Program Structure for Management and Funding Continuity • Government Financial Liability

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