News Release — October 18, 2007
UniStar Nuclear Energy Names President and Chief Executive Officer, Other Officers
BALTIMORE, October 18, 2007 - UniStar Nuclear Energy, LLC (UniStar), a strategic joint venture between Constellation Energy and EDF, today announced the appointment of three senior executives. The appointments include George Vanderheyden as president and chief executive officer, Kathleen Hyle as chief financial officer and Steven Miller as secretary of the company.
"These seasoned energy executives have the skills to lead this dynamic and innovative organization and solidify UniStar's role at the forefront of our nation's nuclear renaissance," said Michael J. Wallace, chairman of the board of directors of UniStar Nuclear Energy and executive vice president of Constellation Energy. "The UniStar Nuclear Energy joint venture brings together EDF's unmatched global leadership in the nuclear arena with Constellation Energy's extensive nuclear ownership and operating experience in the U.S. The considerable resources united under this joint venture provide greater certainty and momentum to our efforts to build the first fleet of new nuclear plants in North America in three decades."
In his new role, Vanderheyden, who also serves as a senior vice president for Constellation Energy's nuclear subsidiary, Constellation Energy Nuclear Group, will be responsible for overseeing the potential development and deployment of Evolutionary Power Reactors (EPR) in the United States and Canada.
In December 2005, Vanderheyden was named president of UniStar Nuclear, LLC, a joint venture with reactor-manufacturer AREVA NP, to market the U.S. EPR as Constellation Energy's technology of choice for potential new nuclear development in the United States.
In leading the marketing venture, Vanderheyden developed and executed UniStar's innovative business model. Previously, he served as site vice president of Constellation Energy's Calvert Cliffs Nuclear Power Plant in Southern Maryland, the designated site of UniStar's first combined construction and operating license application (COLA). A partial application containing the site's environmental report was submitted to the Nuclear Regulatory Commission (NRC) in July. UniStar Nuclear Energy plans to submit the full COLA by March 15, 2008.
Bernard Dupraz, UniStar Nuclear Energy board member and senior vice president of generation for EDF, said Vanderheyden's expertise will play an important role in the success of the enterprise.
"The experience we gain with the EPR at Flamanville in France will be of great help to George and his team moving forward in the U.S.," said Dupraz, who noted that EDF also will contribute executives to UNE in the future. "UniStar's objectives require successful leadership of large, complex projects with global suppliers. George and his team have demonstrated such success in the past."
As UniStar Nuclear Energy's chief financial officer, Hyle will be responsible for managing the financial risk associated with the potential fleet of new nuclear assets. Hyle also serves as senior vice president of finance and chief financial officer for Constellation Energy Nuclear Group. Previously, Hyle held senior-level finance positions with Constellation Energy where she oversaw accounting, treasury, tax and financial planning and analysis. Prior to joining Constellation Energy, Hyle held treasurer and chief financial officer positions with ANC Rental Corp., the parent company of Alamo Rent-A-Car and National Rent-A-Car, AutoNation, Inc., and Black and Decker Corporation.
Miller brings a wealth of energy-related legal experience to his new position as UniStar's secretary. He also currently serves as general counsel and secretary as well as senior vice president of strategy for Constellation Energy Nuclear Group. Prior to joining Constellation Energy, Miller was a member of the energy practice groups at the law firms of Miller, Balis & O'Neil, and Dickstein, Shapiro, Morin & Oshinsky, both in Washington. Miller also served eight years on active duty in the U.S. Navy's Judge Advocate General's Corps before entering civilian practice.
"Kathi and Steve each have played vital roles in the continuing development and implementation of the UniStar business model," said Vanderheyden. "Their experience and insight will help ensure that we continue to deliver value for our investors, partners and customers."
UniStar Nuclear Energy, a strategic joint venture between Constellation Energy and EDF, is powering the nuclear renaissance in North America through industry leadership, disciplined business practices and effective risk-management. Based in Baltimore, 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 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.
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.