Chairman Bingaman and distinguished members of the Senate Energy and Natural Resources Committee, I am Marvin Fertel, Senior Vice President of the Nuclear Energy Institute. The Institute is the Washington, D.C.-based policy organization for the nuclear industry. I am pleased to have this opportunity to testify regarding the renewal of the Price-Anderson Act, nuclear energy research and development funding and industry workforce issues.

The Nuclear Energy Institute (NEI) establishes public policy on various issues affecting the nuclear energy industry, including federal regulations that help ensure the safety of the 103 commercial nuclear power plants operating in 31 states. NEI represents nearly 275 companies, including every U.S. utility licensed to operate a commercial nuclear reactor, their suppliers, fuel fabrication facilities, architectural and engineering firms, labor and law firms, radiopharmaceutical companies, research laboratories, universities and international nuclear organizations.

Congress should renew the Price-Anderson Act, and it should do so with an indefinite renewal. This is a proven framework that has worked for nearly 50 years. Given this proven record, Congress should renew it indefinitely. Congress can reopen the law if modifications are needed. In addition, Congress can request updates on the status of Price-Anderson Act implementation from the NRC.

The Price-Anderson Act is necessary to assure the public that the industry is prepared for contingencies. The law assures the availability of billions of dollars to compensate members of the public who suffer a loss as the result of a nuclear incident. It establishes a simplified claims process for the public to expedite recovery for losses and provides immediate reimbursement for costs associated with any evacuation that may be ordered near nuclear power plants.