Price-Anderson - where we've been, where we're going

The Price-Anderson Act, which became law on September 2, 1957, as part of the Atomic Energy Act of 1954, provides a system to pay funds for claims by members of the public for personal injury and property damage resulting from a nuclear accident. The Act as it now operates entails a two-part insurance system for large utility licensees. The first consists of $160 million in primary nuclear liability insurance purchased by utilities operating large nuclear power plants. Under the second part, these utilities could be assessed up to $5 million per reactor per accident for damages exceeding $160 million. With 101 large power reactors now licensed, the primary and secondary insurance presently totals $665 million. The present Price-Anderson Act expires on August 1, 1987. There are presently two bills H.R. 3653 and S. 1225 being actively considered by the Congress for modification and extension of Price-Anderson. Hearings have been held and the two bills have been marked up and reported out by the Senate and House oversight committees