Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Holtec files lawsuit against New York's radioactive materials discharge law

Published 04/18/2024, 03:27 PM
Updated 04/18/2024, 05:26 PM
© Reuters. The Indian Point Energy Center nuclear power plant, which New York Governor Andrew Cuomo announced will shutdown as planned, is pictured along the eastern shore of the Hudson River in Buchanan, New York, U.S., April 30, 2021. REUTERS/Mike Segar/File Photo

(Reuters) - Holtec International, which is in charge of decommissioning the Indian Point nuclear power plant in New York, on Thursday filed a lawsuit against the state over its rules regarding the discharge of radioactive materials from nuclear power plants.

The company said the authority to monitor radioactive discharge was with the U.S. Nuclear Regulatory Commission (NRC) and not the state of New York.

The state in 2023 passed a law that makes it unlawful to move "any radiological substance into the Hudson (NYSE:HUD) River in connection with the decommissioning of a nuclear power plant."

"The passage of the bill has already delayed the planned completion of the decommissioning of Indian Point an additional eight years...we look forward to the legal process moving along on this important decision," the company said in its lawsuit in the Southern District Court of New York.

"The failure of New York State to respect Federal Law, and follow the facts and science of the issue, left us no other means for remedy," a Holtec spokesperson said.

New York's law would lead to Holtec having to "choose an alternative method of disposal for tritiated water...even if the discharge of the tritiated water to the Hudson River would meet the NRC's regulations," the filing said.

The alternative method could likely add to the costs of the decommissioning.

New York's concerns about Indian Point's practice of storing spent nuclear fuel in densely packed cooling pools played a significant role in the facility's closure in 2021.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Separately, the Indian Point Decommissioning Oversight Board, which is led by New York's Department of Public Service, said while it would forego the discussion, it plans to continue presenting alternative methods of wastewater removal next week.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.