NRC Accepts USEC's American Centrifuge Plant License Application for Detailed Review; -Milestone Achieved Seven Months Ahead of Schedule-.BETHESDA, Md. -- USEC USEC Microsecond USEC United States Enrichment Corporation USEC United States East Coast USEC Unity Security Force (gaming) USEC Universal Services Echo Canceller USEC Umts Security USEC User Based Security Model Inc. (NYSE NYSE See: New York Stock Exchange :USU USU Usually USU Utah State University (Logan, UT) USU Uniformed Services University USU Ural State University (Ekatherinburg, Russia) USU Universidade Santa Úrsula ) announced today that the U.S. Nuclear Regulatory Commission Nuclear Regulatory Commission (NRC), an independent U.S. government commission, created by the Energy Reorganization Act of 1974 and charged with licensing and regulating civilian use of nuclear energy to protect the public and the environment. (NRC NRC abbr. 1. National Research Council 2. Nuclear Regulatory Commission Noun 1. NRC - an independent federal agency created in 1974 to license and regulate nuclear power plants ) has determined that USEC's license application for the American Centrifuge Plant is complete and acceptable for detailed review. NRC's acceptance of the application comes seven months ahead of USEC's original schedule and completes the seventh milestone in the Company's June 2002 agreement with the U.S. Department of Energy to deploy what is expected to be the world's most efficient uranium enrichment technology. USEC submitted its application for a license to construct and operate the American Centrifuge Plant in Piketon, Ohio on August 23. The application seeks a license term of 30 years and authorization to produce enriched uranium up to an assay level of 10 percent. The commercial plant would have an initial production capacity of 3.5 million SWU SWU Srinakharinwirot University (Thailand) SWU Star Wars Universe SWU Southwestern University (Cebu City, Philippines) SWU Showa Women's University (Tokyo, Japan) (separative work units) per year. USEC's environmental report submitted with the license application also evaluates the potential expansion of the American Centrifuge Plant to an annual production capacity of 7 million SWU. NRC's detailed review will include an extensive safety and environmental analysis. USEC is hopeful the commission will be able to complete its review and issue the construction and operating license in approximately 24 months. USEC's American Centrifuge Plant is expected to provide a reliable, competitive fuel source for the world's nuclear power plants and play a key role supporting U.S. energy security and national security interests. The plant is scheduled to be operational by the end of the decade. This news release contains forward-looking information (within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995) that involves risks and uncertainty, including certain assumptions regarding the future performance of USEC. Actual results and trends may differ materially depending upon a variety of factors, which are described in USEC's periodic filings with the Securities and Exchange Commission. These SEC filings are available on USEC's website, www.usec.com. USEC Inc., a global energy company, is the world's leading supplier of enriched uranium fuel for commercial nuclear power plants. |
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