Exelon Generation set to apply for nuclear licence

Electricity firm, Exelon Generation, is set to apply for a combined construction and operating licence that would allow for the possible development of a nuclear plant in Texas

Electricity firm, Exelon Generation, is set to apply for a combined construction and operating licence that would allow for the possible development of a nuclear plant in Texas.

The company's intentions have been outlined in a report to the Nuclear Regulatory Commission (NRC). The filing of the report launches a process that gives Exelon the option to develop a new nuclear plant without immediately committing to the full project.  

Among the various conditions that must be resolved before any formal decision to build is made are a permanent solution to used fuel disposal, broad public acceptance of a new nuclear plant and assurances that a new plant using new technology can be financially successful.

Exelon expects to submit the application to the NRC for the combined construction and operating licence, known as a COL, in 2008.

Exelon expects to acquire a site, apply for a COL and develop project cost estimates and economic projections for a new nuclear energy plant with 'next-generation' technology.

"We view Texas as a logical area for expansion of nuclear power," said Jack Skolds, executive vice president of Exelon Corporation and president of Exelon Generation.

"Exelon also sees the state's burgeoning need for more electricity with fewer carbon emissions, which is precisely what nuclear energy delivers. We want to fully explore all possibilities for our mutual benefit."

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