First and foremost, the safety of the site will be completely protected. The nuclear decommissioning trust fund, which is managed by an independent, highly regulated trustee will remain as an asset for use in the safe caretaking and decommissioning of the site. The NRC will continue to regulate the site. Given this, the decommissioning projects will suffer little disruption if the unthinkable were to happen and Holtec files for bankruptcy. In such an event, the company will have to be reorganized under Chapter 11 and its ownership may migrate to another company. However, the Decommissioning Trust Fund (DTF) will continue to be used exclusively for its purpose as is required by federal regulation; and cannot be diverted by the acquirer for another purpose, without a specific exemption from the NRC.
Holtec’s Decommissioning Management Manual (CD-31) ensures strong governance and controls are in place to ensure fund expenditures are prudent and checked using a Decommissioning Cost Control Committee (DCCC), and to ensure that the fund is managed in a manner that supports sufficient funding throughout the project using a Decommissioning Trust Fund Management Board. Holtec additionally has a Decommissioning Advisory Board made up of independent industry leadership at the executive level who advise on matters related to safety, risk and performance.
These autonomously constituted entities provide a web of checks and controls to ensure that the expenditures on the decommissioning projects are made responsibly.