News Release —April 5, 2007
UniStar Nuclear Signs Contract with AmerenUE to Prepare Combined Construction and Operating License Application
Continues Progress toward Fleet of U.S. EPR
Advanced Power Plants
BALTIMORE, April 5, 2007 –UniStar Nuclear’s development arm, UniStar Development Company, has entered into an agreement with Ameren Corporation’s (NYSE: AEE) Missouri-based utility, AmerenUE, to assist in preparing a combined construction and operating license application (COLA). UniStar Nuclear, the jointly developed nuclear business enterprise of Constellation Energy (NYSE: CEG) and AREVA NP, is working toward developing and deploying a proposed standardized fleet of advanced U.S. Evolutionary Power Reactors (U.S. EPR) in the U.S.
This agreement initiates a multi-year process for the possible future investment decisions required to meet anticipated future energy challenges through new nuclear. Although no firm decision has been made by AmerenUE on a location for a possible UniStar Nuclear-developed power plant, this agreement adds to UniStar Nuclear’s growing list of potential nuclear development projects now under consideration across the country.
“This is an important step forward for the UniStar Nuclear business model and our value-driven, risk managed business model,” said Michael J. Wallace, co-chief executive officer of UniStar Nuclear, executive vice president of Constellation Energy, and president of Constellation Energy subsidiary, Constellation Generation Group. “As we continue to bring on new partners, we are expanding our options for potential projects and moving closer to realizing our vision of a standardized fleet of U.S. EPR advanced nuclear power plants.”
UniStar Nuclear utilizes AREVA’s U.S. EPR as its technology of choice in pursuing the potential for future nuclear power generating capacity across the country. “The U.S. EPR is the safest, most secure advanced nuclear power plant design currently under construction around the world, which provides a reliable knowledge base for certainty of cost, licensing and construction to meet the schedule to qualify for incentives in the Energy Policy Act,” said Tom Christopher, CEO of AREVA Inc., headquartered in Bethesda, Md.
By signing on early with UniStar Nuclear, companies can take advantage of the flexibility and benefits of this innovative business model and also help refine the model for standardized fleet operations going forward.
UniStar Nuclear is the standardized nuclear business model jointly developed by Constellation Energy and AREVA, NP Inc., that provides the platform upon which to license, construct and operate the safest, most secure and most reliable fleet of advanced nuclear power plants in the United States. It brings together industry-leading design, licensing, construction and operations expertise in a unique business model that is pioneering a new era of emissions-free American power generation. UniStar Nuclear’s business operations (www.unistarnuclear.com) are headquartered in Baltimore, Md.
Constellation Energy (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.
As the leading U.S. nuclear supplier and a key player in the electricity transmission and distribution sector, AREVA’s 5000 American employees are committed to serve the nation and pave the way for the future of the electricity market. The company’s commitment to America is reflected in its initial investment of $200 million in the U.S. EPR. With 40 locations across the nation and $1.7 billion in revenues in 2006, AREVA combines homegrown leadership, access to worldwide expertise and a proven track record of performance. In the U.S. and in over 100 countries around the world, AREVA is engaged in the 21st century’s greatest challenges making energy available to all, protecting the planet and acting responsibly towards future generations. AREVA Inc. is headquartered in Bethesda, Md. Visit us at www.us.areva.com.