Decision maintains option for new nuclear construction; does not imply intent to build WARRENVILLE, Ill., Dec. 18 /PRNewswire-FirstCall/ -- Exelon Nuclear has selected Victoria County as its site in southeast Texas for a federal license application that would allow construction and operation of a new nuclear plant should the company decide to build one, the company announced today. Exelon Nuclear expects to submit the Combined Construction & Operating License application (COL) to the federal Nuclear Regulatory Commission in September 2008. In June, Exelon announced that both Victoria County and Matagorda County were being considered as possible sites for the license application. After conducting in-depth field investigations and research at both locations as part of the company's site selection process, Victoria County was identified as the site best suited to satisfy NRC requirements as well as other federal and state laws and regulations. As this process moves forward, Exelon Nuclear is committed to actively communicating with neighbors, state and local officials and other stakeholders as well as the community at large in Victoria County. "We are delighted that Exelon Nuclear has selected Victoria County as the site for the license application," Victoria Mayor Will Armstrong said. "We're impressed with Exelon's excellent safety record and expertise in the arena of nuclear generated electricity. Furthermore, Exelon -- with its long history of being a good corporate citizen -- would be a great company to do business with in Victoria County and the State of Texas." The Victoria County site, which will be identified in the license application, is an 11,500-acre tract about 20 miles south of Victoria in Victoria County. If built, the facility at the site will use a man-made freshwater lake for cooling. A combined construction and operating license is required for construction of a new nuclear energy plant, but the application does not imply that Exelon has made a commitment to build a plant. Among the various conditions that must be resolved to Exelon's satisfaction before any formal decision to build is made are a solution to used fuel disposal, broad public acceptance of a new nuclear plant and assurances that a new plant using new technology can be financially successful, the company has said. "Nuclear energy is safe and clean and has a low operating cost," Exelon Nuclear's Vice President of New Plant Development Thomas S. O'Neill said. "That's why we believe nuclear energy is a key part of Texas' future energy mix -- because of its inherent environmental and energy independence benefits." "The leaders and people of Victoria made us feel at home in their community from our very first visit," O'Neill said. "We are both impressed and humbled by the generous welcome and the very broad expressions of support we have received. The reception in Matagorda was the same. I cannot stress enough how important this is to our overall business model -- that we become a partner with the communities where we wish to do business. And we know the deep responsibility we have in such a partnership." Exelon expects the license application to cost about $23 million. Submitting the application in 2008 allows the company to participate in nuclear production tax credits, financial risk insurance and federal loan guarantees specified in the 2005 Energy Policy Act. O'Neill said Exelon has made no decision about when or if it will build on the site. Exelon Corporation is one of the nation's largest electric utilities with more than $15 billion in annual revenues. The company has one of the industry's largest portfolios of electricity generation capacity, with a nationwide reach and strong positions in the Midwest and Mid-Atlantic. In Texas, the company owns or controls about 3,700 megawatts of natural gas fired generation within Electric Reliability Council of Texas (ERCOT). Exelon distributes electricity to approximately 5.4 million customers in northern Illinois and Pennsylvania and gas to approximately 480,000 customers in the Philadelphia area. Exelon is headquartered in Chicago and trades on the NYSE under the ticker EXC. Contact: Craig Nesbit 630-657-4208 (o) 630-640-9461 (c) DATASOURCE: Exelon Nuclear CONTACT: Craig Nesbit of Exelon Nuclear, +1-630-657-4208, cell, +1-630-640-9461

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