Old Dominion Electric Cooperative Nuclear Decommissioning Trust

The trust is a single-purpose vehicle funded by ODEC's ratepayers to cover the future cost of decommissioning ODEC's 11.6% ownership stake in the North Anna Nuclear Power Station. Its portfolio is managed to a liability-driven investment mandate, matching asset duration and liquidity to the projected decommissioning schedule. The trust operates under Nuclear Regulatory Commission financial assurance regulations.

Dominion Energy (Virginia Electric and Power Company) operates North Anna as the 88.4% majority owner. ODEC holds an 11.6% undivided interest and purchases its proportional share of the plant's output under a cost-of-service contract. ODEC's Nuclear Decommissioning Trust is funded by the cooperative to cover its share of decommissioning costs.

ODEC is governed by the 11 member distribution cooperatives that own the organization. The trust's investment program is administered by ODEC management, currently led by President and CEO Chris Cosby, with oversight consistent with state and federal regulatory frameworks for nuclear decommissioning trusts. Investment policy is shaped by the need to reliably meet a long-dated terminal outflow.

The trust is funded through the rates charged to ODEC's 11 member distribution cooperatives. Contributions are collected as part of the wholesale power cost and are irrevocably committed to decommissioning activities. The trust assets are legally segregated and cannot be used for ODEC's general corporate purposes or operating expenses.

Yes. ODEC wholly owns the Clover Power Station (coal) in Halifax County, Virginia, and the Wildcat Point Generation Facility (natural gas) in Cecil County, Maryland. The cooperative also integrates renewable generation through power purchase agreements. The decommissioning trust is specific to the nuclear liability at North Anna.