|
BETHESDA, Md., June 12, 2003 -- USEC Inc. has a nearly $700 million agreement with Exelon Generation Co., LLC, subject to Exelon's internal approval, to supply separative work units (SWUs) for a period of six years for the 17 nuclear power reactors operated by Exelon.
A SWU, a unit of measurement used in the nuclear power industry, pertains to the process of enriching uranium so it can be used as fuel for nuclear power plants.
Exelon President and Chief Operating Officer Oliver D. Kingsley Jr. and USEC President and Chief Executive Officer William H. Timbers agreed to the new terms at the utility's headquarters in Chicago. The nearly $700 million agreement would establish USEC as Exelon's primary SWU supplier from 2005 through 2010.
"This agreement will strengthen and extend USEC's long-term partnership with Exelon, the nation's leading nuclear utility," Timbers said. "Exelon is our largest customer and we look forward to supplying its nuclear fuel needs into the next decade and beyond."
Kingsley said, "Exelon Generation Company is pleased to move forward towards a strategic partnership with USEC. Through this agreement, we will play an important role in USEC's Megatons to Megawatts national security program as well as its demonstration and deployment of American Centrifuge enrichment technology."
With 17 reactors at 10 sites in Illinois, Pennsylvania and New Jersey, Exelon Generation's nuclear operations produce about one-fifth of all nuclear-generated electricity in the United States.
USEC Inc., a global energy company, is a supplier of enriched uranium fuel for commercial nuclear power plants.
| 
Articles 
| View all PennWell sites | View all PennWell events
Add RSS Feed
