Feds told to reimburse Maine Yankee $35.7M
A federal judge has ordered the U.S. government to pay Maine Yankee Atomic Power Co. $35.7 million in compensation for costs incurred in storing spent nuclear fuel at the Wiscasset power plant from 2003 to 2008.
The Bangor Daily News reported that money will eventually be returned to Maine ratepayers, as with an $81.7 million judgment the company won in 2013 for storing the 550 metric tons of spent nuclear fuel from 1998 to 2002.
The money will be disbursed among the company’s owners, including $13.6 million headed to Central Maine Power Co., $2.5 million to Bangor Hydro Electric Co. and $1.8 million to Maine Public Service Co.
The settlement funds heading to Maine will be disbursed later and used according to the Omnibus Energy law passed during the last legislative session. The law specifies that 55% of the settlement funds will go to the Efficiency Maine trust for electric efficiency and conservation programs and 45% of the funds will contribute to reducing power transmission and distribution rates.
The paper reported the disbursement of the other $81.7 million award will occur over a three-year period, beginning this year.
Following the decision by U.S. Court of Federal Claims Judge James Merow, which also awarded $126.3 million to Connecticut Yankee and $73.3 million to Yankee Atomic, the Department of Energy has 60 days to file an appeal.
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