From a financial perspective, what is the main difference between the NFW Act and the NSC Act with respect to the long-term management of nuclear fuel waste?
The NFW Act requires owners of nuclear fuel waste to establish a trust fund and to set aside monies, to pay for the long-term management of the waste. Deposits to the fund will be made on an annual basis. The NSC Act has the authority to require licensees to provide financial assurances to ensure the full costs of decommissioning, including the disposal of nuclear fuel waste, will be covered. Financial assurances can include cash, irrevocable letters of credit, surety bonds, insurance and legally binding commitments from a government (either federal or provincial).
