GE Hitachi Alliance Heralds More Nuclear Plants

Date: November 12, 2006

Source: News Room

General Electric Co. and Japan's Hitachi Ltd. announced plans to pool their units in a $2 billion enterprise meant to capitalize on increasing demand for nuclear energy. A growing economy, population and ever more computers and appliances are driving demand for energy at a time when consumers are increasingly concerned about volatile oil and gas prices and an over-dependence on foreign sources. John Krenicki, President of GE Energy, expects 20 new plants to be built over the next decade. And that is only in keeping pace with the ratio of nuclear power to that of other sources. Dale Klein, director of the Nuclear Regulatory Commission, predicts the agency will experience a groundswell of applications for licenses to construct new nuclear plants. According to Klein, "We do have 14 different entities that have expressed an interest in almost 30 new reactors, so it should be an interesting and exciting time over the next five years."

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