Tokyo-based Electric Power Subsidiary partners with AP Solar in 400 MW Texas Solar Project

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Industry News

Constellation Announces Plans to Develop Nuclear Reactor

LCG, October 28, 2005--Constellation Energy announced yesterday that it plans to submit a combined construction and operating license (COL) application to construct a nuclear reactor with the U.S. Nuclear Regulatory Commission (NRC). Sites currently under evaluation include Constellation's Calvert Cliffs Nuclear Power Plant and the Nine Mile Point Nuclear Station. Constellation expects to complete its evaluation and select a site by early next year.

Constellation Energy stated that the development and deployment will be pursued by UniStar Nuclear, a new joint venture between Constellation Energy and AREVA Inc. Bechtel Power Corporation will support the venture with its expertise as an architect-engineer and constructor.

Unistar Nuclear will develop plants using AREVA's 1,600-MW, U.S. Evolutionary Power Reactor (US EPR) as the platform. The companies stated that engineers are now working in support of obtaining a design certification for the US EPR as a standard plant from the United States Nuclear Regulatory Commission (NRC). The companies expect that new plants will be ready to begin production in 2015.

The US EPR is based upon AREVA's 1,600-MW, European pressurized water reactor (EPR) that is currently being deployed in Europe. One reactor is under construction in Finland and another is to be built in France.

The announcement from Constellation follows similar announcements this month from Duke Power and Progress Energy. Earlier this week, Duke Power stated that it is preparing a combined COL application to construct two nuclear reactors. Duke Power, a business unit of Duke Energy, plans to submit the application to the U.S. Nuclear Regulatory Commission (NRC) within the next 24-30 months. Duke plans to use Westinghouse Electric Co.'s Advanced Passive 1000 (AP1000) reactors, which are each able to generate 1,100 MW of electricity. The AP1000 design incorporates passive safety features that rely upon natural forces, such as gravity, in order to reduce reliance on active, mechanical systems, like pumps and valves. According to Westinghouse, the AP1000 is scheduled to receive Design Certification in December 2005.

On October 6, Progress Energy announced that it may develop another nuclear power plant in Florida, with the site and design to be selected by the end of this year. The application for the combined COL may be filed in early 2008, according to Progress. Given timely approval by the NRC, construction could commence in 2010, with commercial operation in about 2015.

Progress Energy, Duke Energy and Constellation are all participants in NuStart Energy Development, LLC, a consortium founded in 2004 to support the development of new nuclear power stations. Other participants include Exelon, Entergy, Southern Company, the Tennessee Valley Authority, Florida Power & Light, EDF International, and the two reactor vendors, GE and Westinghouse.

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