HR 1242

Nuclear Power Plant Safety Act of 2011 - Amends the Atomic Energy Act of 1954 to direct the Nuclear Regulatory Commission (NRC) to initiate a rulemaking proceeding to revise nuclear power plant safety regulations to ensure that each licensed utilization facility can withstand and adequately respond to: (1) an earthquake, tsunami (for a facility located in a coastal area), strong storm, or other event that threatens a major impact to the facility; (2) a loss of the primary operating power source for at least 14 days; and (3) a loss of the primary backup operating power source for at least 72 hours.

Amends the Energy Policy Act of 2005, in connection with loan guarantees, to require the Secretary of Energy (DOE) to ensure, in the case of a guarantee for advanced nuclear energy facilities, that the cost of the obligation is calculated using a consideration of the Tohoku earthquake of 2011 to estimate the risk characteristics of the project.