The Nuclear Regulatory Commission has begun reviewing a license transfer application for the closed Oyster Creek nuclear plant, an NRC spokesman said Tuesday.
Owner Exelon Generation is seeking to sell it to Holtec International, of Camden.
The federal agency has also agreed to try to finish its review in eight months, rather than the typical yearlong process, at the request of Holtec and Exelon, said NRC spokesman Neil Sheehan in an email.
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The review will focus on Holtec’s technical and financial capabilities, Sheehan said.
“Holtec wants to purchase the plant, decommission it and maintain responsibility for the spent nuclear fuel at the site,” Sheehan said.
Holtec would also get control of the $900 million decommissioning fund, which ratepayers financed over the years, to cover the cost of decontamination, demolition and handling of radioactive spent nuclear fuel.
The application was submitted Aug. 31, and NRC staff determined Tuesday after an initial acceptance review it “contains information that is of sufficient scope and depth to allow the staff to conduct a detailed review,” Sheehan said.
NRC license transfer reviews typically take about a year, Sheehan said, but Holtec has requested a decision by May 1, 2019, and the NRC will try to comply with the request.
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However, if complexities or challenges arise, the NRC may have to take more time, he said.
There will be an opportunity for members of the public and governmental entities to request a hearing on the license transfer application, according to Sheehan.
The NRC has also issued a review of the Oyster Creek spent fuel management plan, available here.