TVA, NuStart Submit Application to NRC

October 30, 2007

ROCKVILLE, Md. — As the site owner and applicant utility, TVA joined NuStart Energy today in submitting an application for a combined operating license for a new nuclear power plant to the Nuclear Regulatory Commission in Rockville, Md.

“TVA is pleased to be the applicant for the combined operating license that we are seeking as part of NuStart for two new advanced nuclear reactors at our Bellefonte site in North Alabama,” said TVA Chief Operating Officer Bill McCollum. “Submitting the reference application — developed by NuStart—for a Westinghouse AP1000 nuclear plant is the first step of a comprehensive NRC review process that will simplify license applications for future plants of the same design.”

Under the new application process, utilities will seek a combined construction and operating license at the same time, reducing their financial risks and simplifying the licensing of nuclear power plants. NRC review of the license application is expected to take about four years.

If approved by the NRC, the license to build and operate a two-unit plant at the Bellefonte site in Hollywood, Ala., would be issued to TVA. The TVA Board would decide whether to build a new nuclear plant at the site.

“Participating with NuStart in this application is a cost-effective way to preserve TVA’s nuclear power option for the future as we continue to explore and develop the best alternatives to meet growing demand for electricity in the Tennessee Valley,” said McCollum. “Like other utilities, we face long lead times to build and start new plants needed to meet around-the-clock baseload power demand.”

TVA’s Bellefonte site was selected in September 2005 by NuStart as one of two sites for the development of a combined operating license application. Bellefonte was selected for the Westinghouse Advanced Passive (AP1000) design, and Entergy’s Grand Gulf site in Mississippi was selected for a General Electric plant design.

McCollum said that any decision by TVA on whether to build a plant at Bellefonte would come later. However, obtaining the necessary license will give TVA more certainty about the cost and schedule of a nuclear option for future decisions.

TVA is the nation’s largest public power provider and is completely self-financing.

TVA provides power to large industries and 158 power distributors that serve approximately 8.7 million consumers in seven southeastern states. TVA also manages the Tennessee River and its tributaries to provide multiple benefits, including flood damage reduction, navigation, water quality and recreation.

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