Additional generating capacity would help Mid-Atlantic region, including
Maryland, meet future energy demand through clean, economic power
BALTIMORE, Nov. 15 /PRNewswire-FirstCall/ -- UniStar Nuclear Energy
(UNE), a joint venture between Constellation Energy (NYSE: CEG) and The EDF
Group (EDF), has submitted an application to the Maryland Public Service
Commission (PSC) for a Certificate of Public Convenience and Necessity
(CPCN) for the potential construction of a new nuclear unit at
Constellation Energy's Calvert Cliffs Nuclear Power Plant in Southern
Maryland.
While UNE has not made a final decision to build this new
advanced-design reactor at Calvert Cliffs, it has submitted the CPCN to the
PSC as a step toward potential construction of a non-greenhouse gas
emitting, base-load, 1,600-megawatt generating facility to meet increasing
energy demand in the Mid-Atlantic region, and in particular, the state of
Maryland.
"A third reactor at our high-performing Calvert Cliffs site offers the
potential for an economic and environmentally sound means to provide
additional base-load electricity to meet anticipated growth, both
regionally and within the state of Maryland," said Michael J. Wallace,
executive vice president, Constellation Energy and chairman, UNE. "Given
the extreme volatility of energy prices worldwide and the significant
environmental costs associated with new and anticipated regulation
governing coal-fired generation, we believe nuclear energy affords our
nation the most economic and environmentally friendly alternative to meet
what will no doubt continue to be increasing demand for energy."
Wallace noted the ultimate decision to build a third reactor at Calvert
Cliffs will not be made until the overall economics and risks associated
with the project are better defined. Factors include the availability and
cost of federal loan guarantees, and state and local fiscal policies that
affect the tax treatment of the proposed plant.
In addition to potential third reactor at Calvert Cliffs, Constellation
Energy's Nine Mile Point nuclear facility in upstate New York also is under
consideration by UNE as an attractive location for the first of four
advanced design reactors using AREVA Inc.'s U.S. Evolutionary Power Reactor
(EPR) technology. UNE announced plans in July 2007 to develop, own and
operate a fleet of U.S. EPR's, which use an advanced design technology
featuring additional redundant safety systems and higher efficiency.
The CPCN submittal is yet another step in the regulatory process, which
also provides opportunities for public comment. The CPCN application notes
the proposed Calvert Cliffs reactor is supported by the Calvert County
(Maryland) Board of County Commissioners, which cited "trust in the
regulatory process and oversight and Constellation Energy's commitment to
safety and environmental stewardship."
The board estimates a third nuclear unit at Calvert Cliffs would add
$20 million in annual tax revenue, which could be used to fund schools,
roads, law enforcement and police and fire services.
UNE is requesting a PSC decision on the CPCN application by December
2008 to pave the way for preliminary, non-safety-related work that can be
completed prior to required federal approvals.
The application notes that a third reactor at Calvert Cliffs would use
a hybrid cooling tower designed to eliminate any visible water plume from
the tower itself.
In parallel with state regulatory reviews, UNE is seeking approval from
the U.S. Nuclear Regulatory Commission (NRC) to license and operate a
proposed third unit. UNE submitted a partial Combined License Application
to the NRC in July 2007 and plans to submit the remainder of the
application by March 2008.
UNE (http://www.unistarnuclear.com), based in Baltimore, is powering the
nuclear renaissance in North America through industry leadership,
disciplined business practices and effective risk-management. UNE provides
the licensing, construction and operating services 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 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, its regulated utility in
Central Maryland.
The EDF Group, one of the leaders in the energy market in Europe, is an
energy specialist that is active in all the businesses of electricity:
production, transport, distribution, energy supply and trading. The Group
is the leading electricity producer in Europe. In France, it has mainly
nuclear and hydraulic production facilities where 95 percent of the
electricity output involves no CO2 emissions. EDF operates over 1,200,000
km of low and medium voltage overhead and underground electricity lines and
around 100,000 km of high and very high voltage networks. The Group is
involved in supplying energy and services to close to 40 million customers
around the world, including more than 28 million in France. The Group
generated consolidated sales of euro 58.9 billion in 2006, of which 42
percent was in Europe excluding France. Net income (Group share) stood at
euro 5.6 billion, with net income from ordinary operations at euro 4.2
billion. EDF is listed on the Paris Stock Exchange and is a member of the
CAC 40 index.
SOURCE Constellation Energy; UniStar Nuclear Energy
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Related links:
http://www.constellation.com
http://www.unistarnuclear.com
http://www.prnewswire.com/comp/084087.html/
CONTACT:
Maureen Brown or Lori A. Vidil,
+1-410-470-7433, both for Constellation Energy and UniStar
Nuclear Energy
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