EnergySolutions Welcomes Magnox Contract Extension
Salt Lake City, Utah, – March 31, 2011 – EnergySolutions (NYSE: ES) has today welcomed the extension to its management and operation contract for 22 of the UK’s Magnox nuclear reactor fleet. The extension follows clarification from the Nuclear Decommissioning Authority (NDA) of its competition schedule for the remainder of its sites. The NDA’s Business Plan, published today, points to the competition for its ten Magnox and two Research sites to begin in 2012 with a likely award in mid 2014.
"We are pleased to continue our strategic partnership with the NDA to address the UK’s radioactive waste legacy,” said Val Christensen, President and CEO of EnergySolutions. “We will use this new timeframe to execute the innovative program we have developed with the NDA, including accelerating the achievement of early Care and Maintenance on two sites, helping to save in excess of £1 billion for UK taxpayers.”
EnergySolutions acquired the current Magnox contracts in June 2007 and manages 22 Magnox reactors across ten sites, including operating four reactors that have generated over 30,000 gigawatt hours of electricity for the UK since 2007. EnergySolutions will be bidding for the new contract, which will include the Magnox sites as well as Research Sites Restoration Ltd., which manages and operates the Harwell and Winfrith sites in the UK.
Mark Morant, President, Global Commercial Group at EnergySolutions, added: “Working closely with the NDA since 2007 we have made a number of significant achievements, and this extension presents us with an excellent opportunity to continue the progress we have made with the clean-up of the Magnox sites. Our safety and performance record is a tribute to the dedication and expertise of all our employees in the UK, and I am confident that they will continue to add tremendous value going forward.”
Under the extension, EnergySolutions will continue with its full program of activities across the ten sites. The work program includes achieving the maximum possible value from the remaining generating reactors at Wylfa and Oldbury, the acceleration of the clean-up at two sites to put them into a Care and Maintenance state significantly ahead of schedule, and dealing with the remaining spent fuel on the sites to avoid leaving any legacy materials for future generations.
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 contain forward-looking statements that involve risks and uncertainties including those related to future business opportunities and strategies. 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. In addition, other risks are identified in the Company's most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the SEC. The Company expressly disclaims any obligation to update or revise any forward-looking statements found herein to reflect any changes in company expectations or results or any change in events.
For additional information please contact Mark Walker at (801) 231-9194 or firstname.lastname@example.org (United States) / Ben Russell at +44 1793 733 136 or email@example.com (United Kingdom)