The Price-Anderson Act The Price-Anderson Act is a key piece of
legislation for the nuclear industry. The consequences of an
attack or an accident at a nuclear power plant are so staggering
that insurance companies won't fully insure them. Unfortunately,
Congress isn't so cautious. It passed a law in 1957, the Price-
Anderson Act, that established a taxpayer-backed insurance
scheme for nuclear power. This law limits the amount of
insurance nuclear power plant owners must carry and caps their
liability in the event of a catastrophic accident or attack at
dollar amounts that fall far, far short of the actual financial
consequences that could be incurred. Even nuclear power
executives acknowledge that their industry is financially
dependent on Price-Anderson to shield nuclear power from free
market forces. Congress reauthorized the Price-Anderson subsidy
for another 20 years as part of the Energy Policy Act of 2005. A
Detailed Analysis Of The Price-Anderson Act: Price-Anderson Act:
The Billion Dollar Bailout for