SECTION 252:653-11-5. Cost estimates for closure

(a)   Closure cost estimate. Closure cost estimates shall be submitted to DEQ for approval. The estimate shall be a detailed written estimate, in current dollars, of the cost of hiring a third party to close the ASR facility in accordance with the permit, the approved closure plan, and the rules of this Chapter at any time during its active life.

(b)   Amount. The cost estimate shall be set by DEQ and be equal to the cost of closing the ASR facility when the extent and manner of its operation would make closure the most expensive, as indicated by its closure plan.

(c)   DEQ approval. A copy of the cost estimate shall be submitted to DEQ for approval.

(d)   Increases required. Closure cost estimates and the amount of financial assurance provided must be increased if, at any time during the active life, changes to the closure plan or facility conditions increase the maximum cost of closure.

(e)   Reductions allowed. Proposals for reduction of closure cost estimates and the amount of financial assurance required may be approved by DEQ.

(1)   Conditions. To qualify for a reduction:

(A)   part of the closure plan must have been completed and approved by DEQ; or

(B)   the cost estimate must be demonstrated to exceed the maximum cost of closure during the remaining life of the facility.

(2)   Adequate assurance remains. The amount of security remaining after the reduction must adequately cover the estimated closure cost yet to be performed.

(3)   DEQ approval required. Financial assurance shall not be reduced until DEQ approval has been granted.

[Source: Added at 35 Ok Reg 1333, eff 9-15-18]