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UniStar Nuclear Energy Statement on Issuance of First U.S. Department of Energy Loan Guarantee for Advanced Nuclear Energy Projects to Southern Company

February 16, 2010

BALTIMORE, Feb. 16 /PRNewswire/ — UniStar Nuclear Energy (UNE) congratulates Southern Company on receipt of the first U.S. Department of Energy (DOE) conditional commitment for a loan guarantee for advanced new nuclear energy facilities. UNE is encouraged that DOE has taken this significant step to implement a program that is vital to our low-carbon energy future. We also commend President Obama for his proposed $36 billion expansion of loan guarantee financing authority to propel a new generation of clean nuclear energy facilities, and with it, the creation of thousands of construction-related jobs and long-term careers.

We remain hopeful that UNE’s proposed Calvert Cliffs 3 facility in Southern Maryland remains a strong candidate to receive a conditional commitment from DOE for a loan guarantee in the near future. The proposed Calvert Cliffs project would represent one of the largest economic and industrial development projects in Maryland’s history, and provide enough clean, safe, reliable and carbon-free electricity to power 1.3 million Maryland homes. It also would play a meaningful role in helping to rebuild our nation’s economy and manufacturing sector with new construction, engineering and skilled-trades careers. The proposed Calvert Cliffs 3 project alone would result in billions of dollars of private investment as well as 4,000 construction and 400 permanent jobs.

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 in the United States and Canada, totaling approximately 7,100 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