The Price-Anderson Nuclear Industries Indemnity Act (commonly called the Price-Anderson Act) is a United States federal law, first passed in 1957 and since renewed several times, which governs liability-related issues for all non-military nuclear facilities constructed in the United States before 2026. The main purpose of the Act is to partially indemnify the nuclear industry against liability claims arising from nuclear incidents while still ensuring compensation coverage for the general public.
At the time of the Act’s passing, it was considered necessary as an incentive for the private production of nuclear power — this was because investors were unwilling to accept the then-unquantified risks of nuclear energy without some limitation on their liability.
The Act understates the risks inherent in atomic power, does not require reactors to carry adequate insurance, and would therefore result in taxpayers footing most of the bill for a catastrophic accident. The United States Public Interest Research Group claims that the value of this “potential subsidy” to the nuclear industry is between $366 million and $3.5 billion annually, or $3.5 million to $33 million per reactor per year. A more recent analysis by economists places the value at $2.3 million per reactor-year, or $237 million annually.
“No other government agency provides this level of taxpayer indemnification to non-government personnel”, Public Citizen
Instead, families are at the mercy of the Price-Andersen Act, which caps the loss potential to a pittance per family in case of an accident with U.S. taxpayers having to pick up the rest.
If this is the situation in US, what about India? Bhopal Gas tragedy happened in 1984. 8000 people dead on that day. 23 years over. Still the survivors are fighting for justice.