Constellation plans to file for reactor


Business Digest

October 28, 2005|By BLOOMBERG NEWS

Constellation Energy Group Inc., the owner of three nuclear power plants, said it plans to begin the license application process with U.S. regulators to build a reactor.

The plant will be built through the Baltimore company's nuclear power design and marketing joint venture with Areva SA of Paris, Constellation said yesterday. The venture was announced last month.

Sites under consideration include the company's existing Calvert Cliffs nuclear plant in Maryland and its Nine Mile Point station in New York. The company said a decision on the site would be made by early next year.

About a dozen utility owners, including Entergy Corp. and Exelon Corp., have said they may build the first nuclear power plants in several decades amid record prices for natural gas, a competing power-plant fuel. None have committed to proceed with the projects beyond the application process.

Areva, the largest reactor maker, wants to build the first U.S. version of its European pressurized reactor. Constellation would own and operate the plant, which would cost $2.6 billion to $3.2 billion, said Tracy Imm, a Constellation spokeswoman.

The 1,600-megawatt plant would supply enough power for 1.3 million average U.S. homes, based on Energy Department estimates.

Duke Energy Corp. announced Wednesday that it would prepare a license application for two new nuclear reactors that would be built by the Westinghouse unit of British Nuclear Fuels PLC at a cost of up to $6 billion. A site hasn't been selected.

Entergy Corp. said last month it will pursue licensing for a reactor at its River Bend nuclear plant site near Baton Rouge, La.

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