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Recorded June 15, 2011
90 minutes
Agenda
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Who should attend
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Overview
It remains to be seen whether the Fukushima Dai-ichi disaster in Japan will be a "game changer" for the U.S. nuclear power industry. Change, however, is happening, as more utilities are making strategic decisions regarding nuclear power plants. For example:
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Exelon Corporation and Constellation Energy Group announced a planned merger that would create the nation's largest nuclear fleet with nearly 19,000 MW. |
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NRG Energy Inc. said that it would stop funding the development of two new nuclear units at the South Texas Project. |
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Dominion Resources put its 556 MW Kewaunee nuclear power plant in Wisconsin up for sale in late April. |
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If the proposed merger with Duke Energy and Progress Energy becomes reality, the combined company would have 9,000 MW of nuclear generation from seven power plants and 12 nuclear reactor units spread across the Carolinas and Florida. |
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Entergy Corp., which has 10 nuclear stations, has
filed a complaint in U.S. District Court in an
effort to stop the state of Vermont from forcing the
closure of the Vermont Yankee nuclear power plant in
March 2012. |
One key reason nuclear plants remain a viable choice is that options are
limited. The regulatory environment for fossil fuels is increasingly more
stringent and costly, and renewables generally cannot economically provide baseload capacity.
Join us for a vital discussion with top industry experts on the current regulatory environment, the actions and challenges facing nuclear power, and the risks and values associated with nuclear power plant acquisitions and projects.
Agenda
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Overview of background and current status of nuclear industry
- The U.S. “Nuclear Renaissance”
- The Fukushima Dai-ichi disaster in Japan
- Tighter regulatory restrictions and scrutiny for coal-fired plants and
hydraulic fracturing for natural gas
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Regulatory perspective
- The nuclear regulatory environment post-Fukushima Dai-ichi
- What is and is not taken into consideration
- How best to work with regulators to achieve mutual benefit |
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Industry perspective
- What companies are doing in light of policy uncertainties
- The value of nuclear plants: The risks, costs, and benefits associated
with construction and acquisition of nuclear plants |
Learning Objectives
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Understand how Federal regulations are impacting the nuclear sector |
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Know how Wall Street views the risks and values associated with nuclear
plants |
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Become familiar with the financial options available for nuclear plants |
Panelists
Margaret Harding – President, 4 Factor Consulting, LLC
Ms. Harding is an engineering and business leader with a broad background in nuclear technology, regulatory compliance and sound business practices. She has a BS in Nuclear Engineering from Iowa State and nearly 30 years of experience in the nuclear industry. She currently is on the technical advisory board for WizNucleus, a start-up company working cyber-security for the nuclear industry. In addition, she serves on the Industrial Advisory Council for Iowa State University Engineering College and as vice-president of the board of the local chapter of Girls, Inc.
Jim Hempstead – Senior Vice President, Global Infrastructure Finance Group, Moody's Investors Service
Mr. Hempstead joined Moody's in December 2002. He covers a portfolio of U.S.-based electric and natural gas utility companies and not-for-profit generation and transmission cooperatives. Prior to joining Moody's, Jim spent approximately four years with Merrill Lynch & Co., working in the Global Energy & Power Group, and provided financial and advisory services to electric, natural gas distribution, interstate pipeline, energy merchant, water and energy technology companies. Prior to joining Merrill Lynch, Jim was with Salomon Smith Barney Corporate Finance, working in their Global Energy & Power Group.
John E. Matthews – Partner, Morgan, Lewis & Bockius LLP
Mr. Matthews is a partner in Morgan Lewis's Energy Practice. He has successfully assisted clients in obtaining NRC regulatory approvals for “first of its kind” commercial transactions involving nuclear power plants. He advises clients regarding commercial issues relating to nuclear power plants and other nuclear assets, nuclear export controls, certain government contracts matters, NRC's review of license transfers, decommissioning funding issues, and the unique insurance and liability issues associated with the ownership and operation of nuclear assets. He also has directed litigation teams in contested licensing proceedings before the NRC and in complex commercial litigation involving nuclear assets.
In addition, Mr. Matthews assists clients in commercial transactions involving the acquisition and/or financing of nuclear assets, issues relating to government contracts (including due diligence and security-related reviews) in connection with mergers and acquisitions or financings, and the development of new nuclear power plant projects. He advises clients regarding corporate structures for owning NRC licensed assets, license transfer applications, vendor contracts, decommissioning funding issues, nuclear decommissioning trusts, nuclear insurance, and other unique U.S. and international liability issues associated with ownership and operation of nuclear assets.
Jennifer Zajac (moderator)
Senior Program Manager, SNL Center
for Financial Education (SNL CFE)
Ms. Zajac recently joined SNL CFE from SNL Energy's editorial staff. During her nine years in the newsroom, she founded and edited SNL Energy's Renewable Energy Week, covered environmental policies that impact the power and natural gas sectors, and launched SNL's podcast series. Currently, she is a graduate student in the University of Colorado-Denver's Global Energy Management program.
Who will benefit
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Financial, legal, regulatory, procurement and strategy leaders in electric
utilities
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Managing directors, directors and staff at financial institutions
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Investment analysts, portfolio managers and investors
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Attorneys and consultants working in the sector
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