Nuclear, Reactors

TVA, Westinghouse announce $70 million in outage services, spare parts contracts

PITTSBURGH, May 23, 2003 — The Tennessee Valley Authority has selected Westinghouse Electric Company to provide refueling and maintenance services at a cumulative nine scheduled outages at the Sequoyah 1 and 2 and Watts Bar 1 nuclear plants in Soddy-Daisy and Spring City, Tennessee.

Concurrently, the companies approved a five-year extension of a spare parts contract for the three Westinghouse-designed pressurized water reactors. Combined, the contracts have a value of approximately $70 million.

Under terms of the outage services contract, Westinghouse will provide a wide range of refueling and maintenance services beginning in January 2004 and continuing through 2008. The spare parts contract will also run through the same time period.

Sequoyah 1 and 2 began commercial operations in 1981 and 1982, respectively, with Watts Bar entering commercial service in 1996. Since those dates, Westinghouse has performed refueling and steam generator services at every outage at the three plants.

TVA is the nation’s largest public power producer and is completely self- financed. TVA provides power to large industries and 158 power distributors that serve 8.3 million consumers in seven southeastern states. TVA operates a total of 5 nuclear units at 3 sites in Tennessee and Alabama.

Westinghouse Electric Company, wholly owned by BNFL plc of the United Kingdom, offers a wide range of nuclear plant products and services to utilities around the world, including fuel, spent fuel management, service and maintenance, nuclear automation, and advanced nuclear plant designs. Westinghouse supplied the world’s first commercial pressurized water reactor nuclear power plant in 1957 and has designed the world’s largest installed base of operating nuclear power plants.