However, US Gov has estimated that some plants like Palisades in Michigan could cause up to $200B in damage, which is nothing compared to the triple meltdown in Fukushima which has estimates over $1000 Billion.
UK is requiring 1.2B per plant, and the plants and insurers are squaking.
Another smoking gun--if the risk of nuke was forced on the operators, it would become so costly that no one would run nuke. SIMPLE
Nuclear operators are to be liable for damages amounting up to seven times the current limit in the event of a nuclear incident, the Government has confirmed.
A phased increase to a limit of €1.2bn (£999m) will be introduced over five years following the coming into force of an international treaty on nuclear third party liability. Liability will initially be capped at €700m and will rise by a further €100m each year until the €1.2bn level is reached. Currently, operator liability is limited to £140m per incident.
"This is an important step in transferring the cost of nuclear third party liability from taxpayers to operators, particularly as we move forward with new nuclear," he said.
A lower liability level of €70 million, up from the current £10 million, will apply to incidents occurring at certain 'low risk' sites, with a level of €80 million for incidents occurring during low risk transport of nuclear substances. These are the minimum limits that can be set under the revised Conventions, the Government said.