#2007-243Decree No. 2007-243 on Securing Funding for Nuclear Liabilities
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The decree establishes regulations for securing financing related to nuclear liabilities and outlines the responsibilities of nuclear operators in France. It defines key terms, categorizes associated costs, and prescribes methods for evaluating those costs. The law emphasizes the need for prudent investment strategies and creates a framework for managing the necessary provisions for nuclear waste management, decommissioning, and related activities, ensuring that nuclear operators maintain sufficient coverage and compliance.
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Key Changes
- Introduces specific categories for evaluating nuclear-related costs.
- Sets regulations for the assets that can be used for covering nuclear liabilities.
- Establishes requirements for internal control and risk assessment related to financial risks.
Obligations
What this law requires
Nuclear operators must evaluate nuclear liability charges in five specific categories: (1) decommissioning of nuclear facilities excluding long-term radioactive waste management, (2) spent fuel management excluding long-term radioactive waste management, (3) recovery and conditioning of legacy waste excluding long-term radioactive waste management, (4) long-term management of radioactive waste packages, and (5) post-closure storage surveillance.
Nuclear operators must employ a defined evaluation methodology that includes: (1) analysis of reasonably available options, (2) prudent selection of a reference strategy, (3) accounting for residual technical uncertainties, (4) accounting for implementation contingencies, and (5) incorporation of operational feedback from ongoing operations.
Nuclear operators must decompose the five liability categories into defined operations according to a nomenclature established by ministerial order from the ministries responsible for economy and energy.
The discount rate used for calculating nuclear liability provisions cannot exceed the anticipated return rate of coverage assets, managed with sufficient security and liquidity, and cannot exceed a ceiling established by ministerial order compatible with applicable accounting standards.
Nuclear operators must retain a precise and sustainable method for determining the discount rate and evaluating the return rate of coverage assets.