CEG Constellation Energy Grp. Common Stock

Work Will Serve as Basis for Engineering, Procurement and Construction of Proposed U.S. Fleet of Advanced Design Nuclear Power Plants BALTIMORE, Feb. 4 /PRNewswire/ -- UniStar Nuclear Energy (UNE), a strategic joint venture between Constellation Energy (NYSE:CEG) and the EDF Group, today announced it has engaged an AREVA-Bechtel Power consortium to begin initial development of the detailed design engineering that will form the basis of UniStar's proposed fleet of at least four advanced nuclear power plants in the United States. George Vanderheyden, president and chief executive officer of UNE, said starting detailed design engineering for UniStar's advanced reactor technology -- AREVA's 1600-megawatt U.S. Evolutionary Power Reactor (U.S. EPR) -- demonstrates why UniStar provides companies pursuing new nuclear the clearest path forward with the greatest certainty of cost, licensing and schedule. "The fact that there are two EPRs currently under construction in Finland and France, and EDF is bringing its experience from the Flamanville project to UniStar puts us in a unique position in the marketplace," said Vanderheyden. "Not only do we benefit from design information from the previous two EPRs, we can more precisely lock down costs for a U.S. EPR and provide greater certainty to our partners and customers." The announcement continues to build momentum for UniStar. On January 25, the U.S. Nuclear Regulatory Commission (NRC) accepted for detailed review UniStar's partial Combined License (COL) application for its reference plant -- a proposed third reactor adjacent to Constellation Energy's Calvert Cliffs Nuclear Power Plant in Lusby, Md. UniStar plans to submit the remaining portions of the COL application in March. In December 2007, UniStar's partner in the U.S. nuclear renaissance, reactor-manufacturer AREVA, submitted the design certification application for the U.S. EPR to the NRC. Late last year, UniStar announced an agreement with turbine-generator supplier Alstom to secure the turbine-generator systems for the first four U.S. EPRs. UniStar is also working with Constellation Energy, EDF, PPL, and AmerenUE and emerging energy companies such as AEHI and Amarillo Power to develop potential U.S. EPRs in New York, Pennsylvania, Missouri, Idaho and Texas. UniStar Nuclear Energy, a strategic joint venture between Constellation Energy (NYSE:CEG) and EDF, is powering the nuclear renaissance in North America through industry leadership, disciplined business practices and effective risk-management. Based in Baltimore, Md., UniStar Nuclear Energy provides the licensing, construction and operating services needed to support the expansion of clean, safe and sustainable nuclear energy in the United States. Constellation Energy (http://www.constellation.com/), a FORTUNE 125 company with 2007 revenues of $21 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. An energy market leader in Europe, the EDF Group is an integrated energy company operating in all branches of the industry: generation, transmission, distribution, and the trading and sale of energy. The top electricity producer in Europe, the Group has predominantly nuclear and hydroelectric power plants in France, supplying electricity that is 95 percent CO2-free. Its transmission and distribution subsidiaries operate 1,246,000 km of medium and low voltage overhead and underground electricity lines and around 100,000 km of high and very high voltage networks. The Group is involved in the supply of energy and services to over 38 million customers worldwide with more than 28 million of them in France. The Group's consolidated sales stood at euro 58.9 Billion in 2006 of which 42 percent was in Europe excluding France. EDF, which is listed on the Paris Bourse, is a member of the CAC 40 index. DATASOURCE: UniStar Nuclear Energy CONTACT: Maureen Brown or Lori A. Vidil, +1-410-470-7433, both of UniStar Nuclear Energy Web site: http://www.constellation.com/ Company News On-Call: http://www.prnewswire.com/comp/084087.html

Copyright