BETHESDA, Md.--(BUSINESS WIRE)--July 16, 2007--America needs to focus on rebuilding its nuclear power infrastructure by training younger workers, USEC Inc. (NYSE:USU) President and CEO John Welch told attendees at the U.S. Women In Nuclear (WIN) Annual Conference in Anaheim, Calif., earlier today.
"The industry is preparing to meet the fuel supply infrastructure needs of the nuclear renaissance. In so doing, nuclear companies are addressing the technological, regulatory and market challenges that lie ahead," Welch explained. "However, the industry needs to increase its focus on assuring that there are sufficient nuclear-trained professionals to staff the rebuilding of America's nuclear industrial base."
"Low fuel cost is a key advantage of nuclear power," Welch said. "Nuclear utilities need a reliable, competitive source of fuel to be able to compete with alternative forms of power generation." Fuel accounts for approximately 25 percent of costs for generating electricity with nuclear power, versus approximately 80 and 90 percent respectively for power generated by coal, gas and oil.
Welch also highlighted the benefits of USEC's next generation uranium enrichment technology that will be deployed at the American Centrifuge Plant in Piketon, Ohio. The benefits of the American Centrifuge Plant will include lower production costs and a modular design that allows output to be expanded as the demand for nuclear fuel increases. He noted that the American Centrifuge program will create hundreds of skilled, high-paying U.S. manufacturing and construction jobs that will help revitalize America's lost nuclear industrial base. As the only U.S.-owned enrichment technology, the American Centrifuge program is also important to America's energy security and the reliability of our nuclear fuel supply.
USEC Inc., a global energy company, is a leading supplier of enriched uranium fuel for commercial nuclear power plants.
This news release contains forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainty. Economic, business, market, regulatory, technology and other factors could cause our actual future results to differ materially from those expressed in our forward-looking statements. More information about these factors is contained in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K and quarterly reports on Form 10-Q, which are available on our website www.usec.com. We do not undertake to update our forward-looking statements except as required by law.
CONTACT: USEC Inc.
Media: Elizabeth Stuckle, 301-564-3399
Investors: Steven Wingfield, 301-564-3354
SOURCE: USEC Inc.