Nuclear Energy Industry Transitions

Tom Kilgore, president and chief operating officer of the Tennessee Valley Authority, is set to serve a three-year term on the Nuclear Energy Institute's executive committee. The committee unanimously elected Kilgore at its July 6 meeting.

As their merger nears closure, Exelon Corporation and Public Service Enterprise Group Incorporated (PSEG) have announced an operating structure for their new combined company, Exelon Electric & Gas.

The new company’s president and chief executive officer will be John W. Rowe, now chairman, president and CEO of Exelon. PSEG’s current chairman, president and CEO, E. James Ferland, will become non-executive chairman of the board. Ferland plans to retire in spring 2007.

Key senior management changes within the new operating structure include the following:

• John Skolds will transition from executive vice president of Exelon, and president of Exelon Energy Delivery and Exelon Generation, to senior executive vice president of operations for Exelon Electric & Gas.
• Frank Clark, current executive vice president and chief of staff for Exelon, will continue these roles for Exelon Electric & Gas. He will also shift from president to chairman of ComEd.
• Exelon Electric & Gas’ new executive vice president of and president of Exelon Energy Delivery will be Ralph Izzo, the current PSE&G president and chief operating officer.
• Ian McLean, Exelon executive vice president, will continue in this role for Exelon Electric & Gas. He will also remain president of Exelon Power Team.
• Randall Mehrberg, who now serves as Exelon’s executive vice president, general counsel and chief integration officer, will become the combined company’s executive vice president, chief administrative officer and chief legal officer.
• Elizabeth Moler will be Exelon Electric & Gas’ executive vice president, government and environmental affairs and public policy. She currently holds these positions with Exelon.
• Thomas O’Flynn, PSEG executive vice president and chief financial officer, will transition to executive vice president of generation finance and business planning for Exelon Generation.
• R. Edwin Selover will become executive vice president of governance for the newly merged company. He is currently senior vice president and general counsel for PSEG, PSE&G and PSEG Services Corporation.
• Exelon’s S. Gary Snodgrass will continue in his role as executive vice president and chief human resources officer for Exelon Electric & Gas.
• John Young, Exelon’s executive vice president of finance and markets, will become executive vice president of finance and holdings for the combined company.
• Christopher Crane will continue as Exelon Nuclear’s president and chief nuclear officer. Crane is currently also senior vice president, Exelon, and president and CEO, AmerGen.
• Ruth Ann Gillis will be the president of Exelon Services Company. She currently serves as senior vice president, Exelon, and executive vice president, ComEd.
• Denis O’Brien will remain president of PECO Energy.
• Exelon’s David Woods will continue in his role as senior vice president, governmental and public affairs, for the new company.

Toshiba America Medical Systems Inc. has appointed Mark G. Mindell vice president of human resources.

Tom Palmisano began this week as site vice president of Prairie Island Nuclear Generating Plant, owned by Xcel Energy and operated by Nuclear Management Co. Previously, Palmisano was site vice president of Monticello Nuclear Generating Plant for about two years. Site Director John Conway will replace Palmisano at Monticello.

Technorati tags: Nuclear Energy, Environment, Energy, Politics, Technology, Economics

Wednesday Update

From NEI’s Japan micro-site: NRC, Industry Concur on Many Post-Fukushima Actions Industry/Regulatory/Political Issues • There is a “great deal of alignment” between the U.S. Nuclear Regulatory Commission and the industry on initial steps to take at America’s nuclear energy facilities in response to the nuclear accident in Japan, Charles Pardee, the chief operating officer of Exelon Generation Co., said at an agency briefing today. The briefing gave stakeholders an opportunity to discuss staff recommendations for near-term actions the agency may take at U.S. facilities. PowerPoint slides from the meeting are on the NRC website. • The International Atomic Energy Agency board has approved a plan that calls for inspectors to evaluate reactor safety at nuclear energy facilities every three years. Governments may opt out of having their country’s facilities inspected. Also approved were plans to maintain a rapid response team of experts ready to assist facility operators recoverin...

Fluor Invests in NuScale

You know, it’s kind of sad that no one is willing to invest in nuclear energy anymore. Wait, what? NuScale Power celebrated the news of its company-saving $30 million investment from Fluor Corp. Thursday morning with a press conference in Washington, D.C. Fluor is a design, engineering and construction company involved with some 20 plants in the 70s and 80s, but it has not held interest in a nuclear energy company until now. Fluor, which has deep roots in the nuclear industry, is betting big on small-scale nuclear energy with its NuScale investment. "It's become a serious contender in the last decade or so," John Hopkins, [Fluor’s group president in charge of new ventures], said. And that brings us to NuScale, which had run into some dark days – maybe not as dark as, say, Solyndra, but dire enough : Earlier this year, the Securities Exchange Commission filed an action against NuScale's lead investor, The Michael Kenwood Group. The firm "misap...

Nuclear Utility Moves Up in Credit Ratings, Bank is "Comfortable with Nuclear Strategy"

Some positive signs that nuclear utilities can continue to receive positive ratings even while they finance new nuclear plants for the first time in decades: Wells Fargo upgrades SCANA to Outperform from Market Perform Wells analyst says, "YTD, SCG shares have underperformed the Regulated Electrics (total return +2% vs. +9%). Shares trade at 11.3X our 10E EPS, a modest discount to the peer group median of 11.8X. We view the valuation as attractive given a comparatively constructive regulatory environment and potential for above-average long-term EPS growth prospects ... Comfortable with Nuclear Strategy. SCG plans to participate in the development of two regulated nuclear units at a cost of $6.3B, raising legitimate concerns regarding financing and construction. We have carefully considered the risks and are comfortable with SCG’s strategy based on a highly constructive political & regulatory environment, manageable financing needs stretched out over 10 years, strong partners...

NEI Nuclear Notes

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