UniStar Nuclear Signs Contract with AmerenUE to Prepare Combined Construction and Operating License Application
April 05 2007 - 11:00AM
PR Newswire (US)
Continues Progress toward Fleet of U.S. EPR Advanced Power Plants
BALTIMORE, April 5 /PRNewswire/ -- UniStar Nuclear's development
arm, UniStar Development Company, has entered into an agreement
with Ameren Corporation's (NYSE:AEE) Missouri-based utility,
AmerenUE, to assist in preparing a combined construction and
operating license application (COLA). UniStar Nuclear, the jointly
developed nuclear business enterprise of Constellation Energy
(NYSE:CEG) and AREVA Inc., is working toward developing and
deploying a proposed standardized fleet of advanced U.S.
Evolutionary Power Reactors (U.S. EPR) in the U.S. This agreement
initiates a multi-year process for the possible future investment
decisions required to meet anticipated future energy challenges
through new nuclear. Although no firm decision has been made by
AmerenUE on a location for a possible UniStar Nuclear-developed
power plant, this agreement adds to UniStar Nuclear's growing list
of potential nuclear development projects now under consideration
across the country. "This is an important step forward for the
UniStar Nuclear business model and our value-driven, risk managed
business model," said Michael J. Wallace, co-chief executive
officer of UniStar Nuclear, executive vice president of
Constellation Energy, and president of Constellation Energy
subsidiary, Constellation Generation Group. "As we continue to
bring on new partners, we are expanding our options for potential
projects and moving closer to realizing our vision of a
standardized fleet of U.S. EPR advanced nuclear power plants."
UniStar Nuclear utilizes AREVA's U.S. EPR as its technology of
choice in pursuing the potential for future nuclear power
generating capacity across the country. "The U.S. EPR is the
safest, most secure advanced nuclear power plant design currently
under construction around the world, which provides a reliable
knowledge base for certainty of cost, licensing and construction to
meet the schedule to qualify for incentives in the Energy Policy
Act," said Tom Christopher, CEO of AREVA Inc., headquartered in
Bethesda, Md. By signing on early with UniStar Nuclear, companies
can take advantage of the flexibility and benefits of this
innovative business model and also help refine the model for
standardized fleet operations going forward. UniStar Nuclear is the
standardized nuclear business model jointly developed by
Constellation Energy and AREVA Inc. that provides the platform upon
which to license, construct and operate the safest, most secure and
most reliable fleet of advanced nuclear power plants in the United
States. It brings together industry-leading design, licensing,
construction and operations expertise in a unique business model
that is pioneering a new era of emissions-free American power
generation. UniStar Nuclear's business operations
(http://www.unistarnuclear.com/) are headquartered in Baltimore,
Md. Constellation Energy (http://www.constellation.com/), a FORTUNE
200 company with 2006 revenues of $19.3 billion, 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 utilities. It owns a
diversified fleet of 78 generating units located throughout the
United States, totaling approximately 8,700 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. As the leading U.S. nuclear supplier and a key
player in the electricity transmission and distribution sector,
AREVA's 5000 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 $1.7 billion in revenues in 2006, 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/. Ameren Corporation serves 2.4 million
electric customers and nearly one million natural gas customers in
a 64,000-square-mile area of Missouri and Illinois. AmerenUE serves
1.2 million electric customers and 125,000 natural gas customers in
Missouri. DATASOURCE: UniStar Nuclear CONTACT: Penny Phelps of
AREVA, +1-301-841-1600, or Tracy Imm of Constellation Energy,
+1-410-470-7433 Web site: http://www.unistarnuclear.com/
http://www.constellation.com/ http://www.us.areva.com/
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