Holtec to take down Oyster Creek NPP in 8 Years

14 August 2018

Exelon Generation and Holtec International have announced an agreement for Holtec to purchase Oyster Creek Generating Station.

Under the terms of the agreement, Holtec will assume ownership of the site, real property and used nuclear fuel. As the site’s owner, Holtec will manage all site decommissioning and restoration activities.

As the new owner of the plant, Holtec will contract with Comprehensive Decommissioning International, LLC (CDI) to perform the decontamination and decommissioning of the plant. With its experience and advanced technologies, CDI will decommission Oyster Creek within eight years, more than 50 years ahead of the industry-allowed 60-year timeline.

Holtec will submit a new Oyster Creek decommissioning plan, which must be reviewed and approved by the NRC. The process provides opportunities for public review and comment on the plan during the NRC evaluation period.

Holtec recently submitted a license application for an autonomous consolidated interim storage facility (CISF) in New Mexico to accept spent nuclear fuel from all nuclear plants in the U.S., including from Oyster Creek. Once licensed, fuel could be sent to the New Mexico CISF based upon the established use of interim storage locations by the federal government which would allow Holtec to return the full site to unrestricted use once the fuel has been transported off-site.

The funds from the site’s decommissioning trust will be transferred to Holtec upon closing and will be used by Holtec to cover the cost of the decommissioning.