The agreement provides for an initial payment to Duke Energy of approximately $56 million for storage costs incurred through to 31 July, 2005, with additional amounts reimbursed annually for future storage costs.
The settlement relates to a 1983 contract with the DoE for the removal of used fuel beginning in 1998. However, delays in a national repository at Yucca Mountain in Nevada have left utilities storing used fuel on site.
Under this settlement, the government will reimburse Duke Energy for qualifying storage costs from the U.S. Treasury’s Judgment Fund.
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