VIRGINIA QUESTIONS NUCLEAR WASTE FUND PAYMENTS TO FEDS
SEPTEMBER 15, 1995
The Virginia Corporation Commission (CC) has launched an investigation into whether Virginia ratepayers should continue contributing to the federal government's nuclear waste fund (Case No. PUE950060). The CC noted that despite $343 million already contributed, and the possibility of $400 million in future payments, the federal government has made little progress in resolving the spent nuclear fuel problem. Also, the present federal budget process has Congress using the unspent nuclear waste fund dollars (em now $4 billion (em to reduce the federal budget.
Through the first quarter of 1995, ratepayers nationwide have paid about $10 billion into the fund, according to the CC. Payments will continue at the rate of almost $600 million per year. Virginia Power alone paid nearly $23 million in 1994; this year the company should pay about $18.2 million.