SOURCE: EnergySolutions

October 14, 2010 01:57 ET

EnergySolutions Delivers Extended Generation at UK Plant

SALT LAKE CITY, UT--(Marketwire - October 14, 2010) -  EnergySolutions (NYSE: ES) has been notified by the United Kingdom Government's Nuclear Decommissioning Authority (NDA), that the Wylfa nuclear power plant in north Wales will continue electricity generation for up to two years beyond its previously scheduled closure date.

The plant, operated by EnergySolutions International Group through its subsidiary Magnox North Ltd and under contract to the NDA, was due to cease generation in December 2010 but will now continue well into 2012. The extra generation will bring additional revenue in excess of £100 million ($158 million) for the NDA in its core work of cleaning-up the UK's nuclear legacy. EnergySolutions will continue to earn fees from the NDA as a result of the extended generation.

 "This fantastic achievement is a testament to the hard work put in by all at the plant and in the wider Group. It has been made possible through our strong relationships with all stakeholders, in particular the workforce and the regulators, and is great news for the local community and national government alike," said Mark Morant, President of EnergySolutions International Group. "Through its ownership of the Magnox sites, EnergySolutions continues to make a huge impact in the UK nuclear sector, generating extra revenue and power at the front end while delivering accelerated clean-up and significant cost savings at the back end."

"I applaud the work done by the Nuclear Decommissioning Authority and by Magnox North's management and staff at Wylfa which has enabled the power station to continue generating low-carbone electricity," said Charles Hendry, the UK Government's Energy Minister. "Extending generation for a further two years is very welcome news. The additional income it generates will make a significant contribution to meeting the costs of decommissioning other legacy sites, reducing the bill for the taxpayer."

The Magnox reactors are the UK's first generation nuclear reactors and Wylfa has been in operation since 1971. EnergySolutions took over the management and operation contract for 10 Magnox sites in 2007, two of which -- Wylfa and Oldbury, in the south west of England -- are still generating while the other eight are at varying stages of defueling, decommissioning, and clean-up.

EnergySolutions offers customers a full range of integrated services and solutions, including nuclear operations, characterization, decommissioning, decontamination, site closure, transportation, nuclear materials management, processing, recycling, and disposition of nuclear waste, and research and engineering services across the nuclear fuel cycle.

Statements in this news release may contain forward-looking statements that involve risks and uncertainties. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Forward-looking statements are not guarantees of future performance and the Company's actual results may differ significantly from the results discussed in the forward-looking statements.

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