Inflation Adjustment to the Price-Anderson Act Financial Protection Regulations, 56451-56452 [E8-22784]

Agencies

• NUCLEAR REGULATORY COMMISSION

[Federal Register Volume 73, Number 189 (Monday, September 29, 2008)]
[Rules and Regulations]
[Pages 56451-56452]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-22784]


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NUCLEAR REGULATORY COMMISSION

10 CFR Part 140

RIN 3150-AI44
[NRC-2008-0512]


Inflation Adjustment to the Price-Anderson Act Financial 
Protection Regulations

AGENCY: Nuclear Regulatory Commission.

ACTION: Final rule.

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SUMMARY: The Atomic Energy Act of 1954, as amended, (AEA) requires the 
NRC to adjust the maximum total and annual standard deferred premiums 
specified in the Price-Anderson Act for inflation at least once during 
each 5-year period following August 20, 2003. The NRC is amending its 
regulations to satisfy this requirement.

DATES: This rule is effective on October 29, 2008.

FOR FURTHER INFORMATION CONTACT: Maxwell C. Smith, Office of the 
General Counsel, U.S. Nuclear Regulatory Commission, Washington, DC 
20555-0001, telephone (301) 415-1246, e-mail: maxwell.smith@nrc.gov.

SUPPLEMENTARY INFORMATION:

I. Background
II. Discussion of Final Rule
III. Voluntary Consensus Standard
IV. Environmental Impact: Categorical Exclusion
V. Paperwork Reduction Act Statement
VI. Regulatory Analysis
VII. Regulatory Flexibility Certification
VIII. Backfit Analysis
IX. Congressional Review Act

I. Background

    Section 604 of the Energy Policy Act of 2005, Public Law 109-58, 
amended section 170 of the AEA (``Price-Anderson Act'') to require the 
NRC to adjust the maximum total and annual standard deferred premiums 
not less than once during each 5-year period following August 20, 2003 
in accordance with the aggregate percentage change in the Consumer 
Price Index. The NRC made the initial changes to the Price-Anderson Act 
amounts required by section 604 of the Energy Policy Act on October 27, 
2005 (70 FR 61885). This final rule makes the required inflation 
adjustments to the maximum total and annual standard deferred premiums.
    This rule simply incorporates mandatory statutory requirements. 
Accordingly, good cause exists under 5 U.S.C. section 553(d)(3) to 
publish this final rule without soliciting public comment because the 
Commission has no discretion in these matters and public comment would 
serve no useful purpose. The NRC is required only to perform 
ministerial computations. The revisions are being published as a final 
rule that will become effective 30 days from the date of publication in 
the Federal Register.

II. Discussion of the Final Rule

    Section 170t. ``Inflation Adjustment'' of the AEA requires the NRC 
to ``adjust the amount of the maximum total and annual standard 
deferred premium under subsection b.(1) not less than once during each 
5-year period following August 20, 2003 in accordance with the 
aggregate percentage change in the Consumer Price Index.'' The NRC's 
implementing regulations for the Price-Anderson Act are found in 10 CFR 
part 140. Accordingly, the Commission is amending 10 CFR 140.11, 
``Amounts of financial protection for certain reactors'', to adjust for 
the increase in inflation since August 20, 2003. Specifically, as set 
forth in section 170t. of the AEA, the Commission is adjusting the 
amount of the maximum total and annual standard deferred premium.
    The current maximum total deferred premium in 10 CFR 140.11(a)(4) 
is $95,800,000 and the maximum annual deferred premium is $15,000,000. 
The Consumer Price Index in August 2003 was 183.9. The most recent 
Consumer Price Index, April 2008, is 214.823. This represents an 
increase of approximately 16.82%. When this increase is applied to the 
maximum total and annual standard deferred premium and rounded, the new 
maximum total deferred premium is $111,900,000, and the maximum annual 
deferred premium is $17,500,000. Section 140.11(a)(4) is being changed 
accordingly.

III. Voluntary Consensus Standards

    The National Technology Transfer and Advancement Act of 1995, 
Public Law 104-113, requires that Federal agencies use technical 
standards that are developed or adopted by voluntary consensus 
standards bodies unless using such a standard is inconsistent with 
applicable law or is otherwise impractical. In this rule, the NRC is 
revising its regulations to reflect statutory mandates contained in the 
Energy Policy Act of 2005. This action does not constitute the 
establishment of a standard that contains generally applicable 
requirements.

IV. Environmental Impact: Categorical Exclusion

    The Commission has determined that this final rule is the type of 
action described as a categorical exclusion in 10 CFR 51.22(c)(1). 
Therefore, neither an environmental impact statement nor an 
environmental assessment has been prepared for this final rule.

V. Paperwork Reduction Statement

    This final rule does not contain information collection 
requirements and, therefore, is not subject to the requirements of the 
Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.).

Public Protection Notification

    The NRC may not conduct or sponsor, and a person is not required to 
respond to, a request for information or an information collection 
requirement unless the requesting document displays a currently valid 
OMB control number.

VI. Regulatory Analysis

    A regulatory analysis has not been prepared for this regulation. 
This rule amends NRC regulations to be consistent with provisions of 
the

[[Page 56452]]

Atomic Energy Act of 1954, as amended. This rule does not involve an 
exercise of Commission discretion and, therefore, does not necessitate 
preparation of a regulatory analysis.

VII. Regulatory Flexibility Certification

    As required by the Regulatory Flexibility Act of 1980, 5 U.S.C. 
605(b), the Commission certifies that this final rule would not have a 
significant economic impact upon a substantial number of small 
entities.

VIII. Backfit Analysis

    The NRC has determined that the backfit rule, 10 CFR 50.109, 70.76, 
72.62, 76.76, does not apply to this final rule because these 
amendments are mandated by the Energy Policy Act of 2005.

IX. Congressional Review Act

    In accordance with the Congressional Review Act, the NRC has 
determined that this action is not a major rule and has verified this 
determination with the Office of Information and Regulatory Affairs of 
OMB.

List of Subjects in 10 CFR Part 140

    Criminal penalties, Extraordinary nuclear occurrence, Insurance, 
Intergovernmental relations, Nuclear materials, Nuclear power plants 
and reactors, Reporting and recordkeeping requirements.


0
For the reasons set out in the preamble and under the authority of the 
Atomic Energy Act of 1954, as amended; the Energy Reorganization Act of 
1974, as amended; and 5 U.S.C. 552 and 553, the NRC is adopting the 
following amendment to 10 CFR part 140.

PART 140--FINANCIAL PROTECTION REQUIREMENTS AND INDEMNITY 
AGREEMENTS

0
1. The authority citation for part 140 continues to read as follows:

    Authority: Secs. 161, 170, 68 Stat. 948, 71 Stat. 576 as amended 
(42 U.S.C. 2201, 2210); secs. 201, as amended, 202, 88 Stat. 1242, 
as amended, 1244 (42 U.S.C. 5841, 5842); sec. 1704, 112 Stat. 2750 
(44 U.S.C. 3504 note); Pub. L. 109-58.


0
2. Section 140.11, paragraph (a)(4) is revised to read as follows:


Sec.  140.11  Amounts of financial protection for certain reactors.

    (a) * * *
    (4) In an amount equal to the sum of $300,000,000 and the amount 
available as secondary financial protection (in the form of private 
liability insurance available under an industry retrospective rating 
plan providing for deferred premium charges equal to the pro rata share 
of the aggregate public liability claims and costs, excluding costs 
payment of which is not authorized by section 170o.(1)(D) of the Act, 
in excess of that covered by primary financial protection) for each 
nuclear reactor which is licensed to operate and which is designed for 
the production of electrical energy and has a rated capacity of 100,000 
electrical kilowatts or more: Provided, however, that under such a plan 
for deferred premium charges for each nuclear reactor which is licensed 
to operate, no more than $111,900,000 with respect to any nuclear 
incident (plus any surcharge assessed under subsection 170o.(1)(E) of 
the Act) and no more than $17,500,000 per incident within one calendar 
year shall be charged. Except that, where a person is authorized to 
operate a combination of 2 or more nuclear reactors located at a single 
site, each of which has a rated capacity of 100,000 or more electrical 
kilowatts but not more than 300,000 electrical kilowatts with a 
combined rated capacity of not more than 1,300,000 electrical 
kilowatts, each such combination of reactors shall be considered to be 
a single nuclear reactor for the sole purpose of assessing the 
applicable financial protection required under this section.
* * * * *

    Dated at Rockville, Maryland, this 9th day of September, 2008.

    For the Nuclear Regulatory Commission.
R.W. Borchardt,
Executive Director for Operations.
[FR Doc. E8-22784 Filed 9-26-08; 8:45 am]
BILLING CODE 7590-01-P