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Orlando Utilities Commission Nuclear Decommissioning Trust
Trustees Larry Mills and Buddy Dyer oversee a segregated NRC-compliant funding vehicle for OUC's minority stake in the St. Lucie Unit 2 nuclear reactor.
Orlando Utilities Commission Nuclear Decommissioning Trust
OUC—The Reliable One provides water and energy services to Central Florida. Log in to pay bills and explore energy and water-saving programs.
General information
Firm type
Trust / Investment Trust
Year founded
—
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Orlando
Corporate office
Orlando, FL, United States
Principals
Larry Mills
President of the OUC Board and Trustee
Britta Gross
Immediate Past President and Trustee
Buddy H. Dyer
Mayor of Orlando and Ex-officio Board Member/Trustee
Sector focus
Frequently asked questions
What is the purpose of this trust?
The trust exists solely to fund Orlando Utilities Commission's share of radiological decommissioning for St. Lucie Unit 2 on Hutchinson Island. NRC rules require licensees to demonstrate reasonable assurance of funding. The trust isolates and accumulates the required assets under qualified trust provisions.
How does OUC's trust differ from other nuclear decommissioning trusts?
OUC's is tied to a minority ownership interest — 5.95% of St. Lucie Unit 2 — alongside majority owner Florida Power & Light and co-investor Florida Municipal Power Agency. Unlike single-owner utility trusts that pool decommissioning funds internally, OUC's trust reflects a joint-ownership structure where the NRC-administered minimum funding target is proportional to its percentage stake.
Who governs the trust?
OUC's board members serve as trustees: Larry Mills, president; Britta Gross, immediate past president; and Buddy H. Dyer, mayor of Orlando and ex officio board member. Investment direction flows from the board, with operational execution handled through The Energy Authority.
What assets does the trust hold?
The trust holds OUC's undivided interest in the St. Lucie Unit 2 facility as the underlying asset driving the liability, but the financial portfolio itself is restricted to NRC-permitted, high-quality instruments such as investment-grade fixed income. The precise asset mix is not publicly disclosed as a standalone portfolio.
Does the trust accept external investors or co-invest?
No. The trust is a single-purpose, single-source funding vehicle for OUC's decommissioning obligation only. It does not seek outside commitments, co-investors, or participate in fund structures alongside external GPs.
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