Nuclear, Reactors

Exelon Nuclear reports 94.4% capacity factor, record generation

WARRENVILLE, Ill., Jan. 25, 2002 — Exelon Nuclear’s 17 generating units ran at a 94.4 percent fleet-average capacity factor in 2001, the highest performance ever for the nation’s largest operator of commercial nuclear reactors.

The units — at 10 sites in Illinois, Pennsylvania and New Jersey — generated a total of 118.8 million megawatt-hours of electricity during the year, 3.8 million megawatt-hours more than in 2000. A megawatt-hour is a million watts generated over an hour and is enough electricity to power 100 typical homes.

The record performance totals came during a year that began with a renewed, widespread public interest in nuclear power as a reliable, expandable non-emitting source of electricity. During the year, eight of Exelon Nuclear’s 17 units either completed or were approved for power uprates totaling more than 500 megawatts of new generation from existing plants.

Exelon Nuclear’s parent company also restated its earnings downward for the third quarter of 2001, Reuters News Service reported.

The utility holding company Exelon Corp. restated its third-quarter earnings per share $1.16 from $1.25 but said it would stand by its 2001 earnings forecast.

The company blamed the restatement on a mistake in the loss it recorded in its nuclear decommissioning trust funds.

Exelon said it records actual income or loss on the funds based on an estimate that the custodian of the funds provides. But earlier this month Exelon discovered that the actual loss was greater than the original estimate. Exelon said that overall 2001 earnings were still expected to be in the $4.30 to $4.45 range.

Exelon Corporation is one of the nation’s largest electric utilities with approximately five million customers and more than $15 billion in annual revenues. The company has one of the industry’s largest portfolios of electricity generation capacity, with a nationwide reach and strong positions in the Midwest and Mid-Atlantic.

Exelon distributes electricity to approximately five million customers in Illinois and Pennsylvania and gas to 425,000 customers in the Philadelphia area. The company also has holdings in such competitive businesses as energy, infrastructure services and energy services.