Approximately $6.5 billion in 2016 present value is required to fund the costs to select a site, design, construct, operate, and monitor the repository, and to transport the 2.6 million used fuel bundles produced in Canada so far. Approximately $3.8 billion of this will be needed to cover costs of implementing Adaptive Phased Management (APM) after a construction licence is received.
In accordance with the Nuclear Fuel Waste Act (NFWA), this portion of the total cost is to be funded out of the NFWA trust funds established by the waste owners. With a trust fund balance of $3.7 billion as of the end of 2015, the cost of implementing APM from the start of the construction phase is approximately 97 per cent funded.
Under the funding formula, annual trust fund contributions will continue until the cost of implementing APM is fully funded for all fuel bundles produced.
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