The U.S. Department of Energy will allocate up to $1.6 million this year to fund industry studies on the best ways to utilize energy from existing commercial nuclear reactors to produce hydrogen. Energy Secretary Samuel Bodman noted that using electricity from nuclear reactors shows potential for producing hydrogen without emitting greenhouse gases. He also said that hydrogen is a key component to the United States’ energy future to help reduce American dependence on foreign sources of energy.

GE Energy has entered into a $27 million partnership with DOE to design a next-generation offshore wind turbine. The turbine’s power rating will be optimized for minimal cost of energy but is expected to be between 5 and 7 cents/KWh. In 2005, GE Energy delivered 1,346 wind turbines worldwide generating revenue exceeding $2 billion - a 200 percent increase over 2004 and 400 percent higher than in 2002, GE’s first year of wind operations.

Babcock & Wilcox has emerged from Chapter 11 bankruptcy protection. In accordance with its previously announced settlement, B&W’s financial results will be re-consolidated with McDermott International.

Duke Power and Southern Co. have selected a site in Cherokee County, S.C. for a potential nuclear power plant. Duke would develop and operate the plant, which would be co-owned by Southern. The utilities expect to file an application to build the plant late next year or in early 2008.

Exelon was named the nation’s most admired electric and gas utility by FORTUNE Magazine. Exelon ranked first in each of the eight evaluation areas by the magazine’s survey group of 10,000 executives, directors and securities analysts. Other “most admired” utilities included FPL Group, Southern Company, Dominion Resources, and Entergy.

Invensys Process Systems and Westinghouse have signed a long-term teaming agreement establishing a structure for working together to provide safety related application solution for nuclear power plants. The teaming agreement provides customers the option of combining complementary products and services of both companies in a unified solution.