The Energy Bar Association kicks off its Annual Meeting with two half-day seminars on significant federal and state issues. These will address issues of critical importance to today’s energy practitioners. Attendees will spend the first morning addressing the post-Dodd-Frank regulatory landscape for energy market participants under CFTC regulations.
This year’s program includes:
• Two Seminars on Significant Federal and State Issues
• Preparing for the Future of the Energy Industry
Hogan Lovells partner Daniel Stenger will be moderating a panel titled “New Developments in Nuclear Energy” which includes David Matthews, Director, Division of New Reactor Licensing, U.S. Nuclear Regulatory Commission.
Thursday, 2 May
4:00 – 5:30 p.m.
Session C: New Developments in the Nuclear Industry
• Moderator: Daniel Stenger, Partner, Energy practice, Hogan Lovells US LLP
• David Matthews, Director, Division of New Reactor Licensing Office of New Reactors, U.S. Nuclear Regulatory Commission.
• Andrew C. Kadak, Ph.D., Director Nuclear Services, Principal, Exponent, Inc.
• Charles W. “Chuck” Whitney, Sr. VP and General Counsel, Oglethrope Power Corp.
As we begin a new round of constructing nuclear power plants, pre-approval of cost estimates and new NRC licensing procedures provide a buffer against the billions-of-dollars of cost disallowances that occurred in the 1980s, but recent experience has shown that prudence claims can still prevent full cost-recovery. For instance, cost pre-approvals do not guarantee recovery of cost increases that will almost inevitably occur on these first-of-a-kind plants. Furthermore, pre-approval statutes generally include caveats for fraud, gross mismanagement, concealment, or similar activities. As costs increase, intervening parties and commissions will carefully review company documents and testimony for any evidence on which to base such a claim. Although these claims should be difficult to prove, commissions could use them to pressure utilities to settle for less than full recovery. Utilities therefore need to carefully