UniStar Congratulates Bechtel and Building Trades Unions On Historic Project Labor Agreement for Proposed Maryland Nuclear Energy Facility

June 2, 2009

Agreement Adds Certainty for UniStar’s Planned Fleet of Advanced Nuclear Energy Facilities in U.S.

BALTIMORE, June 2 /PRNewswire/ — UniStar Nuclear Energy, LLC (UniStar), a strategic joint venture of Constellation Energy (NYSE: CEG) and EDF Group, the global leader in nuclear power, said today the Project Labor Agreement (PLA) reached by the Building and Construction Trades Department (BCTD), AFL-CIO, the National Construction Alliance II and all affiliated international unions, and Bechtel Construction Company (Bechtel) adds momentum to UniStar’s proposed new nuclear energy facility at Calvert Cliffs in Maryland.

“This historic agreement provides the framework for construction of a third nuclear unit at Calvert Cliffs as well as the potential for other future nuclear energy projects that support the nation’s quest for energy independence and security and clean-air goals,” said Michael J. Wallace, chairman of UniStar and vice chairman of Constellation Energy.

As part of the Calvert Cliffs PLA announced today, the unions have guaranteed to supply enough skilled workers to construct the proposed Calvert Cliffs Unit 3 energy facility. In turn, Bechtel has agreed to provide fair wages, fringe benefits and good working conditions for all union workers during construction of the project.

George Vanderheyden, president and chief executive officer of UniStar, added, “The agreement adds another level of certainty to UniStar’s business model and paves the way for the potential creation of thousands of new, good-paying jobs for skilled and craft workers in the manufacturing and construction industries.”

The announcement closely follows a series of significant milestones that give impetus to UniStar’s potential new reactor at Calvert Cliffs. On May 19, UniStar announced that its Calvert Cliffs Unit 3 project was selected by the U.S. Department of Energy as one of four projects to enter the final phase of due diligence for a portion of $18.5 billion in federal loan guarantees for advanced nuclear projects. Receipt of a conditional loan guarantee commitment by the end of 2009 would position UniStar to make a final decision to proceed with the project.

In April, a hearing examiner assigned by the Maryland Public Service Commission (PSC) issued a proposed order approving UniStar’s application for a Certificate of Public Convenience and Necessity (CPCN) for the project. The proposed CPCN order has been appealed to the PSC and is pending before the commission.

The 1,600-megawatt reactor is proposed to be built next to Constellation Energy’s existing Calvert Cliffs facility in Southern Maryland, and would create up to 4,000 construction jobs and approximately 400 permanent jobs.

In addition, two UniStar partners, AREVA and Alstom, are moving forward with major investments that will create additional nuclear-energy related jobs in the United States. AREVA, in a joint venture with Northrop Grumman, plans to break ground this summer on a Newport News, Va., facility that will construct heavy reactor components for the US EPR(TM) – a $360 million investment that will create 500 jobs. Alstom has announced plans to invest $200 million and create 350 jobs in Chattanooga, Tenn., to manufacture turbine-generator systems, including those that will be used by UniStar’s first four planned nuclear energy facilities.

The Calvert Cliffs PLA is an important step in construction of the proposed Calvert Cliffs Unit 3 facility. If built, the new facility at Calvert Cliffs would generate 1,600 MW of carbon-emissions-free electricity, enough to power 1.3 million homes, and would bring much-needed, 24/7-available power to Maryland and the Mid-Atlantic region.

About UniStar Nuclear Energy

UniStar Nuclear Energy, a strategic joint venture between Constellation Energy (NYSE: CEG) and EDF Group, is powering the nuclear renaissance in North America through industry leadership, disciplined business practices and effective risk-management. Based in Baltimore, Md., 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.

About Constellation Energy

Constellation Energy (www.constellation.com) is a leading supplier of energy products and services to wholesale and retail electric and natural gas customers. It owns a diversified fleet of generating units located throughout the United States, totaling approximately 9,000 megawatts of generating capacity, and is among the leaders pursuing the development of new nuclear plants in the United States. The company delivers electricity and natural gas through the Baltimore Gas and Electric Company (BGE), its regulated utility in Central Maryland. A FORTUNE 500 company headquartered in Baltimore, Constellation Energy had revenues of $19.8 billion in 2008.

About EDF Group

The EDF Group, one of the leaders in the energy market in Europe, is an integrated energy company active in all businesses: generation, transmission, 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% of the electricity output involves no CO2 emissions. EDF’s transport and distribution subsidiaries in France operate 1,274,000 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 more than 38 million customers around the world, including more than 28 million in France. The Group generated consolidated sales of 64.3 billion euro in 2008, of which 47% in Europe excluding France. EDF is listed on the Paris Stock Exchange and is a member of the CAC 40 index.

SOURCE UniStar Nuclear Energy, LLC

Source: newswire

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