CLINTON, Ill., March 8 /PRNewswire-FirstCall/ -- The Nuclear Regulatory Commission today voted to approve an Early Site Permit (ESP) for Exelon Generation Company, LLC. Exelon is now waiting for the NRC staff to issue the permit, which must occur within 10 days of the commission's vote. If granted, Exelon would be the first company to receive an early site permit under a never before used licensing process. The ESP resolves with finality certain environmental, site suitability and emergency planning issues with regard to the possible construction and operation of a new nuclear plant next to the Clinton Power Station in Clinton, Ill. Exelon has not decided to move forward with building a new nuclear plant. "This is the last major hurdle in the process. We are very pleased with how the early site permit process has progressed," said Marilyn Kray, Exelon Nuclear Vice President of Project Manager, who has led this effort for the company since it began in 2002. The 20-year permit allows Exelon to "bank" a site for a possible power plant; however, it does not authorize construction of a new plant. Should the company decide to build a power plant, it would need to apply for a combined operating license. "Certain conditions would have to fall into place before Exelon would consider building a plant: a workable solution to the spent fuel disposal problem; community acceptance; the right reactor technology; and the economics must be favorable," Kray said. Exelon Generation was the first company to submit an application for an early site permit. Exelon Corporation (NYSE: EXC) is one of the nation's largest electric utilities with 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 5.4 million customers in northern Illinois and Pennsylvania and natural gas to approximately 480,000 customers in the Philadelphia area. Exelon is headquartered in Chicago and trades on the NYSE under the ticker EXC.
SOURCE Exelon Nuclear