;

UniStar Nuclear Energy Submits License Application to NRC for Potential Third Nuclear Reactor at Nine Mile Point

Company press release

UniStar Nuclear Energy, a joint venture of Constellation Energy (NYSE: CEG) and EDF Group, on Tuesday submitted a combined license (COL) application to the U.S. Nuclear Regulatory Commission (NRC) for a potential new reactor at Nine Mile Point Nuclear Station in Scriba, N.Y.

The final decision on whether to proceed with the new reactor has not yet been made. The NRC’s application review process is expected to take 36-42 months, includes public access to project information, and provides opportunities for public comment. The New York State Department of Environmental Conservation and Public Service Commission, along with other regulatory agencies including the U.S. Army Corps of Engineers, will be asked to review and approve various aspects of the project

The COL application seeks federal regulatory approval for a 1,600-megawatt nuclear plant that can generate electricity for more than one million households. UniStar’s technology of choice is AREVA’s U.S. Evolutionary Power Reactor (U.S. EPR), an advanced, evolutionary design based on reactors currently operating in Europe. The project, one of four proposed by UniStar, would leverage the expertise of Constellation Energy, which owns five U.S. nuclear reactors, and EDF Group, the world’s largest nuclear operator and owner of France’s 58 operating nuclear plants.

“EDF’s operating experience is unmatched in the world. The reactor we’re proposing to build is a based on a mature technology that benefits from lessons learned from 40 years of operating nuclear plants,” said George Vanderheyden, president and chief executive officer of UniStar. “We believe it is the safest, most secure technology available.”

Vanderheyden said a final decision on whether to proceed will not be made until UniStar’s expectations have been met for safety, cost, regulatory stability and bipartisan federal, state and local support. UniStar and its partners previously submitted COL applications for proposed U.S. EPRs next to the Calvert Cliffs nuclear plant in southern Maryland and at AmerenUE’s Calloway plant near Fulton, Mo. UniStar also is supporting a fourth COL application, to be submitted in mid-October, for a potential new reactor in Pennsylvania.

On Aug. 21, the NRC held a public-information meeting at the State University of New York at Oswego to outline its review process for UniStar’s application for the proposed Nine Mile reactor. The meeting was attended by about 300 individuals, including community leaders, public officials, members of local organized labor, employees and other interested citizens.

Among those who spoke in support of the project were City of Oswego Mayor Randy Bateman, several members of the Oswego County Legislature, along with representatives from the Greater Oswego Chamber of Commerce, the United Way of Greater Oswego County and the Oswego County Emergency Management Office. Support also came from the International Brotherhood of Electrical Workers (IBEW) Local 97.

Supporters said electricity generated by the proposed new reactor would be critical in meeting New York’s increasing energy needs and also cited economic benefits the project would bring to the region. A new nuclear plant at Nine Mile Point is expected to provide up to 4,000 construction jobs and approximately 360 new, permanent jobs once the plant is operational. It also would provide a significant addition to the property-tax base and benefits to local business.

New power plants are needed to meet rising energy demand in New York State and the Eastern United States. Nuclear power is considered an essential component of a diverse mix of energy sources for its ability to reliably generate baseloadelectricity – power thatis constant 24 hours a day, seven days a week and is not affected by weather or climate.

In addition, nuclear power does not produce greenhouse gases, which contribute to global warming, and does not cause acid rain or emit toxic mercury, making it the most environmentally sound way to meet critical baseload energy requirements.

About UniStar

UniStar Nuclear Energy, a strategic joint venture between Constellation Energy (NYSE: CEG) and EDF Group, is powering the nuclear renaissance in North America through industry leadership, disciplined business practices and effective risk-management. Based in Baltimore, Md., UniStar Nuclear Energy provides the licensing, construction and operating services needed to support the expansion of clean, safe and sustainable nuclear energy in the United States.

About Constellation Energy

Constellation Energy (http://www.constellation.com), a FORTUNE 125 company with 2007 revenues of $21 billion, is the nation’s largest competitive supplier of electricity to large commercial and industrial customers and the nation’s largest wholesale power seller. Constellation Energy also manages fuels and energy services on behalf of energy intensive industries and utilities. It owns a diversified fleet of 78 generating units located throughout the United States, totaling approximately 8,700 megawatts of generating capacity. The company delivers electricity and natural gas through the Baltimore Gas and Electric Company (BGE), its regulated utility in Central Maryland.

About EDF Group

The EDF Group, one of the leaders in the energy market in Europe, is an integrated energy company active in all businesses: production, transport, distribution, energy selling and trading. The Group is the leading electricity producer in Europe. In France, it has mainly nuclear and hydraulic production facilities where 95 percent of the electricity output involves no CO2 emissions. EDF’s transport and distribution subsidiaries operate 1,246,000 km of low and medium voltage overhead and underground electricity lines and around 100,000 km of high and very high voltage networks. The Group is involved in supplying energy and services to more than 38 million customers around the world, including more than 28 million in France. The Group generated consolidated sales of € 59.6 billion in 2007, of which 44 percent in Europe excluding France. EDF is listed on the Paris Stock Exchange and is a member of the CAC 40 index.