WASHINGTON--(BUSINESS WIRE)--June 15, 2007--The government can play a very important role in supporting first-of-a-kind energy technology projects, John K. Welch, USEC Inc. president and chief executive officer, said today. Welch presented the Company's views on the U.S. Department of Energy's loan guarantee program at the department's public hearing on proposed rules for the program.
He noted, "With regard to nuclear power, in many areas we are a generation behind the rest of the world in investing in new nuclear technologies. But prompt implementation of the Act (Energy Policy Act of 2005), and in particular the guarantee program, will help support critical investments that will enable us to recover lost ground and strengthen our nation's energy security."
Welch offered the Company's American Centrifuge Plant project to be a pilot loan guarantee noting that, in addition to helping USEC finance the plant's construction, the experience gained could assist utilities later who apply for loan guarantees to support construction of new nuclear reactors.
"It's no secret that USEC supports the resurgence of nuclear power," he said. "We firmly believe the renewal of the U.S. nuclear industry must begin with the deployment of our American Centrifuge uranium enrichment plant."
Welch's statement is available at www.usec.com in the Newsroom section under Speeches: http://www.usec.com/v2001_02/HTML/News_speeches.asp
USEC Inc. (NYSE:USU), a global energy company, is a leading provider of enriched uranium fuel for commercial nuclear power plants.
CONTACT: USEC Inc.
Media: Elizabeth Stuckle, 301-564-3399
Investors: Steven Wingfield, 301-564-3354
SOURCE: USEC Inc.