Exelon on Friday responded to the media coverage from earlier this week concerning remarks a company official made at the U.S. Energy Association's annual meeting in Washington about the future of nuclear power in the United States.
Exelon's senior Vice President and Chief Strategy Officer William Von Hoene was quoted as saying there was no future for large nuclear plant construction in this country due to unfavorable economic conditions.
S&P Global quoted Von Hoene as saying, "The fact is — and I don't want my message to be misconstrued in this part — I don't think we're building any more nuclear plants in the United States. I don't think it's ever going to happen."
"I'm not arguing for the construction of new nuclear plants. They are too expensive to construct, relative to the world in which we now live," he was quoted as saying. He also said nuclear power was viable as "a bridge to a different kind of carbon-free world."
The statements were picked up by many news outlets.
In response, Exelon President and Chief Executive Officer Chris Crane on Firday said the company was "unequivocally committed to a strong and successful future for nuclear energy, indlucing advancing and investing in new technology, while tirelessly promoting sound energy policies and critically needed market reforms.”
The company also reiterated findings by business research firm The Brattle Group that noted recently that the expected closures of four nuclear power plants in Ohio and Pennsylvania would increase carbon emissions by more than 20 million metric tons "essentially wiping out the environmental benefits of all the wind and solar built in the PJM region over the past 25 years."
However, the company also said, despite its convictions, "it is clear that new, large-scale nuclear plants are not viable in today’s U.S. competitive markets, where even existing nuclear plants are challenged due to the failure of these markets."
Exelon said "with needed reforms … (it) sees tremendous promise in advanced nuclear technologies, including small modular reactors that can be built on a shorter capital cycle."
The company is pursuing development of "innovative technologies … (and) continues to promote advanced nuclear reactor designs and advance international nuclear growth opportunities."
“Exelon is fully engaged in preserving our nation’s existing nuclear fleet and advancing the nuclear technologies of tomorrow,” said Crane. “We can’t imagine a clean energy future without zero-emission nuclear energy. But we also have to be honest with ourselves about the need for changes to markets and energy policy to value resilience and environmental attributes in a technology neutral way. If we do that, then nuclear energy will easily find its place along with renewable energy and next-generation storage in America’s future energy mix.”