Price-Anderson Act

Price-Anderson Act

Legislation in the United States seeking to incentivize nuclear power by limiting the liability of nuclear plants in the event of an accident. Under the Act, the nuclear power industry is responsible for the first $10 billion of damages resulting from a spill or other accident, while the federal government is responsible for any losses exceeding that amount. It was passed in 1957 and has been renewed several times since.
References in periodicals archive ?
The article's authors pointed out that the Price-Anderson Act of 1957 limits the legal liability of the nuclear industry at $13.6 billion, meaning that in the event of a catastrophe, any costs upward of that (from a potential $2 trillion in damages) would be covered by U.S.
This is done by comparing three cases: (1) safety regulation in the United States under the US Nuclear Regulatory Commission and with the Price-Anderson Act defining US electric utility liability should a nuclear power plant accident occur; (2) France under the Autoritede Surete Nucleaire (and related European Union authorities and regulations) with the Paris Convention on Nuclear Third-Party Liability; and (3) Japan at the time of the Fukushima-Daiichi accident under the Nuclear Industrial Safety Agency with Japanese liability law and, since November 2014, with the "Convention on Supplementary Compensation for Nuclear Damage."
In the United States, nuclear liability is governed by the Price-Anderson Act, which was adopted in 1957.
Congress's attempt to answer that question is the Price-Anderson Act, a broad statute addressing claims by the victims of a major nuclear accident.
Naam also wants to jettison the Price-Anderson Act, a law limiting liability for nuclear accidents to just $12 billion.
District Judge Audrey Fleissig, Eastern District of Missouri, found that prior cases interpreting the Price-Anderson Act (42 U.S.C.
Price-Anderson Act lends itself to interesting observations.
The US had to draft the Price-Anderson act to protect the industry from large-scale nuclear accidents.
The American nuclear insurance industry, concerned about possible renewal of the Price-Anderson Act and tort claims from nuclear workers, is still receiving claims in connection with the 1979 accident at Three Mile Island.
The insurance industry can take some comfort in the fact that the Price-Anderson Act, which was passed by Congress in 1957, offers a disaster fund.
delays, and extension of the Price-Anderson Act nuclear liability
The nuclear industry's very existence is predicated on the Price-Anderson Act, which limits the liability of a nuclear reactor operator for any accident.