Maryland PSC Issues State Approval for Proposed Nuclear Energy Facility at Calvert Cliffs

June 29, 2009

State Regulatory Milestone Provides Greater Certainty for UniStar’s Proposed Project in Southern Maryland

BALTIMORE, June 29 /PRNewswire/ — The Maryland Public Service Commission (PSC) today issued a final order approving an application for a Certificate of Public Convenience and Necessity (CPCN) for a proposed new nuclear energy facility at Calvert Cliffs in Lusby, Md. The application was submitted by UniStar Nuclear Energy, LLC (UniStar), a strategic joint venture of Constellation Energy (NYSE: CEG) and EDF Group, the global leader in nuclear power.

The CPCN, which is required prior to the commencement of any construction activities, addresses a range of environmental and reliability impacts of the proposed nuclear energy facility, including air, water, wetlands, and cultural and historic impacts. UniStar’s proposed project has been the subject of numerous public hearings since the submission of the CPCN application to the PSC in November 2007. In April, a hearing examiner assigned by the PSC issued a proposed order approving UniStar’s application.

“This decision serves as another significant milestone in UniStar’s efforts to build certainty for our proposed Calvert Cliffs Unit 3,” said George Vanderheyden, president and chief executive officer of UniStar. “This is a crucial step in the state regulatory process and demonstrates Maryland’s commitment to providing clean, safe, reliable and carbon-free electricity to the region.”

The announcement provides greater momentum for UniStar’s potential new reactor at Calvert Cliffs as well as its planned fleet of U.S. EPR reactors at selected sites throughout the United States. 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. On June 1, Bechtel Construction Company (Bechtel) and the Building and Construction Trades Department (BCTD), AFL-CIO, the National Construction Alliance II and all affiliated international unions announced the approval of a Project Labor Agreement (PLA) for the construction of Calvert Cliffs Unit 3.

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

In parallel with state regulatory reviews, UniStar is pursuing approval from the U.S. Nuclear Regulatory Commission (NRC) to license and operate the proposed new facility. UniStar’s Combined License Application (COLA) is currently under review by the NRC. If built, the facility would generate enough carbon-emissions-free electricity to power 1.3 million homes and would bring much-needed, reliable, around-the-clock 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 euro 64.3 billion 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

Source: newswire

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