More Nukes in the Pipeline (CEG, PPL, EXC)

UniStar Nuclear Energy, a joint venture between Electricite de France (EDF) and Constellation Energy Group Inc. (NYSE:CEG), and PPL Corporation (NYSE:PPL), a UniStar partner, have passed the first regulatory review on the road to building four new nuclear power plants. The US Nuclear Regulatory Commission just added the fourth, a plant near Berwick, Pennsylvania, to its docket of combined license applications for new nukes.

The NRC now has docketed 26 new nuclear units at 17 different sites forreview and approval. It can take up to four years for a project toreceive NRC approval, and that’s without any public clamor againstnukes. The timeline can go way out if lawsuits start getting filed.

We noted some of the hurdles nuclear power providers must clear whenExelon Corporation (NYSE:EXC) announced its plans for a new nuke inSeptember [http://www.247wallst.com/2008/09/going-nuclear-i.html]. Sofar, nukes are off nearly everyone’s radar screen because there arejust too many other serious problems to face. But there is no chancethat this many new nuclear plants will stay a secret forever.

Paul Ausick
January 9, 2009