Last updated on April 17, 2014 at 12:55 EDT

Westinghouse Electric Company Adopts Principles of Conduct for Exporters of Nuclear Power Plants

September 15, 2011

PITTSBURGH, Sept. 15, 2011 /PRNewswire/ — Westinghouse Electric Company, together with the world’s leading civilian nuclear power plant vendors, today announced the adoption of a common set of principles that reflects global best practices in connection with the export of nuclear power plants. These “Principles of Conduct” reflect the participating companies’ commitment to their customers and all those who stand to benefit from nuclear power to assemble and share best practices that reinforce and enhance existing codes, standards and regulations.

The Principles articulate the nuclear power plant industry’s shared high standards in the areas of safety, security, environmental protection and spent fuel management, compensation in the unlikely event of nuclear-related damage, nonproliferation and ethics. No such voluntary, comprehensive, export-oriented code of conduct has previously existed in the nuclear industry.

“This agreement is unique in the history of the commercial nuclear power plant industry, helping to assure confidence in the safe and peaceful use of nuclear power,” said Dr. Aris Candris, Westinghouse president and CEO. “In adopting these Principles of Conduct, Westinghouse is reaffirming our commitment to deliver safe, clean and reliable energy from nuclear power on a global scale.”

Facilitated by the Carnegie Endowment for International Peace, the voluntary Principles of Conduct were crafted over the past three years by representatives from all the major exporters of nuclear power plants. They have been adopted by nine companies based in Canada, France, Japan, Russia, South Korea and the United States. The Principles take effect immediately.

More information about the Nuclear Power Plant Exporters’ Principles of Conduct is available at www.nuclearprinciples.org.

Westinghouse Electric Company, a group company of Toshiba Corporation (TKY: 6502), is the world’s pioneering nuclear energy company and is a leading supplier of nuclear plant products and technologies to utilities throughout the world. Westinghouse supplied the world’s first pressurized water reactor in 1957 in Shippingport, Pa. Today, Westinghouse technology is the basis for approximately one-half of the world’s operating nuclear plants, including 60 percent of those in the United States.

SOURCE Westinghouse Electric Company

Source: PR Newswire