News & Events

I want to begin by thanking Gregg Renkes and Washington Policy and Analysis for organizing our discussion this afternoon. It's highly appropriate that the inaugural session of this program deals with the issue of energy. Producing the energy needed by Japan and the US is an issue that has dominated much of the 20th Century and will continue as a major concern in the 21st.

The question before both our nations - indeed every nation - is how to reconcile two objectives - adequate energy supply and a healthy environment. For too long the idea has been put forth that we can have either one or the other - but not both. I strongly disagree.

Angie Howard has just reviewed for you the status of the nuclear generating industry in the U.S. I'll take the next few minutes to discuss how one company - PECO Energy - is responding to the challenges facing nuclear power - both as a company and as an industry.

A few months ago, I held a series of meetings with our employees to discuss with them PECO Energy's vision. As change accelerates in the electric utility industry - especially in our home state of Pennsylvania - I felt employees must clearly understand where we are going.

I think many of them were taken aback by the simplicity of our vision.

Quite simply it is to become the world's leading provider of clean energy. Clearly this is not a goal that will be achieved this year, or even in the next five years. Maybe not even in the careers of many of our current employees.