Omaha Public Power District Nuclear Decommissioning Trust

The trust funds the full decommissioning of the Fort Calhoun Nuclear Generating Station, a 478 MW reactor that closed in 2016. NRC regulations require OPPD to maintain dedicated financial assurance for radiological cleanup, and the trust holds those assets separately from the utility's general funds.

The trust is managed internally through OPPD's treasury division. Brad Underwood, appointed CFO in 2025, and John Thurber, Director of Treasury and Financial Operations, oversee the financial strategy. OPPD has not disclosed whether external investment advisors are retained for specific allocations.

OPPD does not publicly disclose the trust's current asset allocation in real time, but utility filings indicate a conservative mix centered on fixed-income instruments and public equities designed to match the decommissioning liability schedule. The emphasis is on capital preservation over growth.

OPPD has estimated the total decommissioning cost for Fort Calhoun at approximately $1.2 billion (per utility regulatory filings). The trust balance fluctuates as funds are drawn down for contractor payments and investment returns accrue.

No. NRC rules restrict decommissioning trust funds exclusively to radiological decommissioning activities. Any remaining balance after license termination may be subject to ratepayer refund, depending on regulatory determinations at that time.

The qualified '90 Fund' holds the tax-advantaged core decommissioning reserves under Section 468A of the Internal Revenue Code, while the Supplemental Trust holds additional contributions that exceeded the deductible limits. Both sub-trusts serve the same liability but offer different tax-treatment flexibility for withdrawals.

No. OPPD administers the trust through its internal treasury function. Exelon Generation provided operational support for the plant during its operating years, but the financial management of the decommissioning trust has remained with OPPD.