Talen Energy Corp
For the period ended Sep 30, 2024. Filed Nov 14, 2024.
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Sep 30, 2024 · Filed Nov 14, 2024
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9. Asset Retirement Obligations and Accrued Environmental Costs
- Asset Retirement Obligations and Accrued Environmental Costs
| Successor | ||
|---|---|---|
| September 30, 2024 | December 31, 2023 | |
| Asset retirement obligations | $495 | $464 |
| Accrued environmental costs | 22 | 23 |
| Total asset retirement obligations and accrued environmental costs | 517 | 487 |
| Less: asset retirement obligations and accrued environmental costs due within one year (a) | 42 | 18 |
| Asset retirement obligations and accrued environmental costs due after one year | $475 | $469 |
(a)Presented as “Other current liabilities” on the Consolidated Balance Sheets.
Asset Retirement Obligations
The changes of the ARO carrying value were:
| ARO Rollforward | |
|---|---|
| Carrying value, December 31, 2023 (Successor) | $464 |
| Obligations settled | (9) |
| Accretion expense | 40 |
| Carrying value, September 30, 2024 (Successor) | $495 |
Supplemental information for the ARO:
| Successor | ||
|---|---|---|
| September 30, 2024 | December 31,2023 | |
| Supplemental Information | ||
| Nuclear (a) | $234 | $214 |
| Non-Nuclear (b) | 261 | 250 |
| Carrying value | $495 | $464 |
(a)Obligations are expected to be settled with available funds in the NDT at the time of decommissioning. See Note 12 for additional information on the NDT.
(b)Certain obligations are: (i) partially supported by surety bonds, some of which have been collateralized with cash and (or) LCs; or (ii) partially prefunded under phased installment agreements.
As a result of environmental regulations issued by the EPA or other rule-making entities, the Company may be required to revise and (or) recognize new AROs. See “Environmental Matters” in Note 10 for additional information. See “Talen Montana Financial Assurance” in Note 10 for information on Talen Montana’s requirement to provide financial assurance for certain environmental decommissioning and remediation liabilities related to Colstrip.
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