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Perry Nuclear Power Plant to Expand Fuel Storage Capacity

Posted on: Tuesday, 21 August 2007, 15:14 CDT

NORTH PERRY, Ohio, Aug. 21 /PRNewswire-FirstCall/ -- FirstEnergy Corp. subsidiary FirstEnergy Nuclear Operating Company (FENOC) announced today plans to expand used nuclear fuel storage capacity at its Perry Nuclear Power Plant.

The plans call for installing above-ground, airtight steel and concrete cylindrical canisters, cooled by natural air circulation, to store used fuel assemblies. The canisters will sit on a thick concrete pad located within a highly secured area of the plant, providing additional safety assurance. Once the canisters are in place, they will be monitored closely by trained plant personnel and the Nuclear Regulatory Commission (NRC) to assure their integrity. Initially, six canisters will be installed; up to 74 additional canisters will be added as needed.

Construction of the new fuel storage system is scheduled to begin in spring 2008, and completion is planned for 2010.

"This project is vital to the future operation of the Perry Plant," said Perry Vice President Barry Allen. "With the safety and health of the public and environment the top priorities, much effort went into the planning and selection of this canister system. Expanding our used fuel storage capacity will help ensure Perry remains a safe and reliable source of energy in Northeast Ohio for years to come."

The NRC-approved canister system has been proven safe and effective for the storage of used nuclear fuel. Similar systems are in place at more than 40 other nuclear sites in the United States, including FENOC's Davis-Besse plant near Toledo, Ohio.

Since Perry began operation in 1987, its used fuel assemblies have been stored in an indoor, steel-lined pool of water on the Perry site. Approximately 280 fuel assemblies are replaced and then stored in the pool following each 24-month operating cycle. Because the national repository for used nuclear fuel will not be ready until at least 2017, the plant must plan for additional storage space.

Perry is owned by Akron, Ohio-based FirstEnergy Corp., and is operated by FENOC.

FirstEnergy is a diversified energy company headquartered in Akron, Ohio. Its subsidiaries and affiliates are involved in the generation, transmission and distribution of electricity, as well as energy management and other energy-related services. Its seven electric utility operating companies comprise the nation's fifth largest investor-owned electric system based on serving 4.5 million customers in Ohio, Pennsylvania and New Jersey; and its generation subsidiaries control more than 14,000 megawatts of capacity.

Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements typically contain, but are not limited to, the terms "anticipate,""potential,""expect,""believe,""estimate" and similar words. Actual results may differ materially due to the speed and nature of increased competition and deregulation in the electric utility industry, economic or weather conditions affecting future sales and margins, changes in markets for energy services, changing energy and commodity market prices, replacement power costs being higher than anticipated or inadequately hedged, the continued ability of FirstEnergy's regulated utilities to collect transition and other charges or to recover increased transmission costs, maintenance costs being higher than anticipated, legislative and regulatory changes (including revised environmental requirements), and the legal and regulatory changes resulting from the implementation of the Energy Policy Act of 2005 (including, but not limited to, the repeal of the Public Utility Holding Company Act of 1935), the uncertainty of the timing and amounts of the capital expenditures needed to, among other things, implement the Air Quality Compliance Plan (including that such amounts could be higher than anticipated) or levels of emission reductions related to the Consent Decree resolving the New Source Review litigation, adverse regulatory or legal decisions and outcomes (including, but not limited to, the revocation of necessary licenses or operating permits and oversight) by the NRC (including, but not limited to, the Demand For Information issued to FENOC on May 14, 2007) and the various state public utility commissions as disclosed in our SEC filings, the timing and outcome of various proceedings before the PUCO (including, but not limited to, the Distribution Rate Cases and the generation supply plan filing for the Ohio Companies and the successful resolution of the issues remanded to the PUCO by the Ohio Supreme Court regarding the Rate Stabilization Plan) and the PPUC (including the Pennsylvania Power Company Default Service Plan filing), the resolution of the Petition for Review filed with the Commonwealth Court of Pennsylvania with respect to the transition rate plan for Met-Ed and Penelec, the continuing availability and operation of generating units, the ability of generating units to continue to operate at, or near full capacity, the inability to accomplish or realize anticipated benefits from strategic goals (including employee workforce initiatives), the anticipated benefits from voluntary pension plan contributions, the ability to improve electric commodity margins and to experience growth in the distribution business, the ability to access the public securities and other capital markets and the cost of such capital, the outcome, cost and other effects of present and potential legal and administrative proceedings and claims related to the August 14, 2003 regional power outage, any final adjustment in the purchase price per share under the accelerated share repurchase program announced March 2, 2007, the risks and other factors discussed from time to time in our SEC filings, and other similar factors. We expressly disclaim any current intention to update any forward-looking statements contained herein as a result of new information, future events, or otherwise.

FirstEnergy Corp.

CONTACT: Jennifer Young of FirstEnergy Corp., office, +1-440-280-6327 ormobile, +1-216-337-8789

Web site: http://www.firstenergycorp.com/

Source: PRNewswire-FirstCall

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