Nuclear, Reactors

Exelon to submit application to reserve site for future use

KENNETT SQUARE, Pa., April 30, 2002 — Exelon Generation Tuesday announced it has begun preparing an application seeking Nuclear Regulatory Commission approval of a potential site at Clinton Power Station in DeWitt County, Illinois, for possible addition of a new nuclear power plant. The application is expected to be filed by June of 2003.

Approval from the U.S. Nuclear Regulatory Commission does not authorize construction. Exelon has not yet decided to construct a nuclear power plant.

The application will seek an Early Site Permit, part of a new federal government approval process for evaluating the suitability of a site for possible future nuclear power plants. If Exelon receives approval, it would mean only that the site meets suitability guidelines for new nuclear generation.

Exelon will seek approval of a permit that would be valid for 20 years. Receiving approval from the NRC would mean that Exelon could “bank” the site if it is decided sometime in the future to pursue a Combined Operating License for the operation and construction of a nuclear power plant. This would be a separate process, involving additional public input.

The application review and approval process is expected to take 18 to 30 months. The process examines the suitability of the site for one of several possible reactor designs. Exelon has made no decision on the type of reactor design it may chose to use if it proceeds. The process examines the site in several areas, including: site safety analysis, environmental assessment and emergency preparedness.

The Clinton site was selected by Exelon for a number of reasons. It was originally designed for two units. It is located close to major transmission facilities already in existence, and so is strategically located in a region that needs reliable power and has the infrastructure needed to deliver it.

Earlier this year, Exelon was one of two companies chosen as candidates to receive government funding to help develop a process to screen potential sites for their suitability for new nuclear generation.

Exelon Nuclear operates the largest nuclear fleet in the nation, with 17 reactors at 10 stations, and has achieved a solid record of safety and efficiency.

Clinton Power Station is owned and operated by AmerGen, a 50/50 partnership between Exelon and British Energy. The permit application is solely an Exelon initiative.

Exelon Generation Company, LLC, a subsidiary of Exelon Corporation, headquartered in Chicago, is one of the largest competitive electric generation companies in the United States, as measured by owned and controlled megawatts. As of the end of 2001, Exelon Generation owned or was invested in approximately 40,000 megawatts of generating resources, through three business units: Exelon Nuclear, which owns or has investments in 19 nuclear units in Illinois, Pennsylvania and New Jersey, Exelon Power, which owns or has investments in coal, natural gas, oil, landfill gas and hydro generation assets, consisting of 124 intermediate and peaking units, and Exelon Power Team, Exelon’s wholesale marketing and energy-based financial trading operation, doing business in all of the contiguous 48 states and in Canada and Mexico. In 2001, Exelon Generation, headquartered in Kennett Square, Pa., had assets of $8.2 billion, revenues of $7.0 billion, and approximately 7,200 employees.