Maryland
Chamber of Commerce Visits Calvert Cliffs Nuclear Power Plant
Chamber expresses
support for nuclear joint venture between Constellation Energy and EDF Group
and potential for a new nuclear unit at Calvert Cliffs
BALTIMORE, Jun 19,
2009 (BUSINESS WIRE) -- The board of the Maryland Chamber of Commerce visited
Constellation Energy's (NYSE:CEG) Calvert Cliffs Nuclear Power Plant in
Lusby, Md. today. The Chamber expressed support for a nuclear joint venture
between EDF Group and Constellation Energy and the potential for construction
of a new nuclear unit at the site. Calvert Cliffs has been identified as the
possible site for a new 1,600-megawatt pressurized water reactor that would
deliver enough emission-free electricity to power 1.3 million homes.
"Calvert Cliffs
has long been a driver of the Maryland economy, providing jobs and a reliable
supply of emission-free power generation in the state," said Kathleen
Snyder, president and CEO of the Maryland Chamber of Commerce. "The addition of a
third reactor at Calvert Cliffs would add thousands of new jobs in Maryland
and deliver additional baseload electricity for Maryland's businesses."
In addition to helping Maryland meet its energy and climate
change goals, the privately funded initiative to build a new nuclear unit
would be one of the largest industrial development projects in Maryland
history, resulting in 4,000 construction jobs and 400 permanent operational
positions. The Nuclear Energy Institute estimates that nuclear power plants
pay 36 percent more than the average salaries for a local area, and that the
average nuclear power plant generates $430 million in sales of goods and
services in the local community and almost $40 million in total labor income.
As part of the agreement to acquire a 49 percent interest in
Constellation Energy's nuclear subsidiary, EDF plans to develop a new visitor
and environmental center at Calvert Cliffs to showcase sustainable energy
technologies, and move EDF's North American headquarters to Maryland.
"Maryland's business community knows the value of having a
reliable baseload power source in the state, and recognizes the benefits that
a major new infrastructure project and generation asset will bring to the
local economy," said Michael J. Wallace, vice chairman and chief
operating officer of Constellation Energy. "Calvert Cliffs Nuclear Power
Plant continues to be vital to Maryland's business community, and the
potential addition of a new unit at the site will reduce the state's reliance
on out-of-state energy suppliers and, over time, help Maryland's business and
residential consumers better manage the cost of electricity."
Members of the Maryland Chamber's board visited the existing
1,735-megawatt nuclear power plant, which first went online in 1975, and
which is recognized internationally for its high level of performance.
Calvert Cliffs Unit 2 set a world record this year for pressurized water
reactors by operating non-stop for more than 692 days, and in 2008 had a
record capacity factor, a measure of efficiency, of 101.37 percent. The site
was also recognized by the Maryland Occupational Safety and Health
Administration with a Voluntary Protection Program (VPP) Star level rating,
the highest safety rating for employers in Maryland and nationwide.
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.
SOURCE: Constellation Energy
Constellation Energy
Media Contact:
Robert L. Gould
Debra Larsson
410-470-7433