Power Group Online Article |  | |
18 December 2007 -- Exelon Nuclear has selected Victoria County in southeast Texas as its site for a federal license application that would allow construction and operation of a new nuclear plant should the company decide to build one. The company expects to submit the combined construction and operating license application (COL) to the Nuclear Regulatory Commission in September 2008.
In June, Exelon announced that two Texas counties were being considered as possible sites for the license application. The preferred Victoria County site is an 11,500-acre tract. If built, the facility would use a man-made freshwater lake for cooling.
Among the various conditions that must be resolved to Exelon's satisfaction before any formal decision to build is made are a solution to used fuel disposal, broad public acceptance of a new nuclear plant and assurances that a new plant using new technology can be financially successful, the company has said.
Exelon said it expects the license application to cost about $23 million. Submitting the application in 2008 allows the company to participate in nuclear production tax credits, financial risk insurance and federal loan guarantees specified in the 2005 Energy Policy Act.
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