Constellation Energy Seeks Combined Construction and Operating License From Nuclear Regulatory Commission
October 27 2005 - 5:50PM
PR Newswire (US)
Next Generation of Nuclear Power Moves One Step Closer to Reality
WASHINGTON, Oct. 27 /PRNewswire-FirstCall/ -- Constellation Energy
(NYSE:CEG) today announced its intent to file with the Nuclear
Regulatory Commission (NRC) for a combined construction and
operating license (COL) for the next generation of nuclear power
plants. This is the first step in a multi-phase process that could
ultimately lead to the development and deployment of its first
nuclear power plant in more than 30 years. Sites under
consideration include the company's Calvert Cliffs Nuclear Power
Plant and the Nine Mile Point Nuclear Station. Final site selection
is expected by early next year. The development and deployment will
be done under the auspices of UniStar Nuclear, a joint venture
between Constellation Energy and AREVA Inc. that brings together an
experienced nuclear fleet operator and owner and a preeminent
nuclear reactor vendor. The U.S. EPR, a 1,600 megawatt evolutionary
power reactor, will be the technology of choice for all UniStar
Nuclear plants. "Constellation Energy and AREVA created the UniStar
Nuclear business framework with the intent to develop and deploy
new nuclear power plants in North America," said Michael J.
Wallace, co-chief executive of UniStar Nuclear and executive vice
president of Constellation Energy. "While no decision has been made
on specific site locations, this is the next logical step in the
process." "The fleet approach that UniStar Nuclear is taking
generates significant cost savings and efficiencies during their
construction and operations," said Thomas A. Christopher, co-chief
executive officer of UniStar Nuclear and CEO of AREVA Inc.
"Standardized plants also create an unprecedented degree of
certainty in operations and allow operators to move from plant to
plant," he said. The U.S. EPR is based on AREVA's advanced nuclear
power plant and represents a new standard in nuclear plant safety,
with four separate safety systems, each of which is capable of
performing the entire safety function for the reactor. Two such
reactors are planned for Europe, with one already under
construction in Finland. AREVA, as prime contractor to any
potential new nuclear project under the UniStar fleet model, would
provide the nuclear reactor and all support systems,
instrumentation and control system and the initial load of nuclear
fuel. As locations are firmed up, it is envisioned that
Constellation Energy would operate the proposed fleet of U.S. EPRs
and hold the plant's operating licenses. UniStar Nuclear
(http://www.unistarnuclear.com/) is headquartered in Annapolis, Md.
Constellation Energy (http://www.constellation.com/), a FORTUNE 200
company based in Baltimore, is the nation's largest competitive
supplier of electricity to large commercial and industrial
customers and the nation's largest wholesale power seller.
Constellation Energy also manages fuels and energy services on
behalf of energy intensive industries and energy companies. It owns
a diversified fleet of more than 100 generating units located
throughout the United States, totaling approximately 12,000
megawatts of generating capacity. The company delivers electricity
and natural gas through the Baltimore Gas and Electric Company
(BGE), its regulated utility in Central Maryland. In 2004, the
combined revenues of the integrated energy company totaled $12.5
billion. As the leading U.S. nuclear supplier and a key player in
the electricity transmission and distribution sector, AREVA's 6,500
American employees are committed to serve the nation and pave the
way for the future of the electricity market. The company's
commitment to America is reflected in its initial investment of
$200 million in the U.S. EPR. With 40 locations across the nation
and more than $2 billion in revenues in 2004, AREVA combines
homegrown leadership, access to worldwide expertise and a proven
track record of performance. In the U.S. and in over 100 countries
around the world, AREVA is engaged in the 21st century's greatest
challenges making energy available to all, protecting the planet
and acting responsibly towards future generations. AREVA Inc. is
headquartered in Bethesda, Md. Visit us at http://www.us.areva.com/
DATASOURCE: Constellation Energy CONTACT: Media: Penny Phelps of
AREVA, +1-301-841-1600; or Tracy Imm, +1-410-234-7433 or Investor
Relations: Kevin Hadlock, +1-410-783-3647, both of Constellation
Energy Web site: http://www.constellation.com/
http://www.unistarnuclear.com/ http://www.us.areva.com/
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