Chairman Murkowski, Chairman Domenici, and Members of the Committee and Subcommittee:

I am Corbin A. McNeill, Jr., and I am Chairman and Co-Chief Executive Officer of  Exelon Corporation and President of Exelon Generation Company. I appreciate the opportunity to appear before you today to discuss the state of the nuclear energy industry and the role that nuclear power can play in meeting America’s future energy needs.

Exelon Corporation was formed last year by the merger of Unicom Corporation of Chicago and PECO Energy Company of Philadelphia. Exelon is the holding company for three wholly-owned subsidiaries: Exelon Energy Delivery, which includes Commonwealth Edison and PECO Energy, two distribution companies providing electric service in Northern Illinois and electric and natural gas service in Southeastern Pennsylvania, respectively; Exelon Enterprises, which owns a host of unregulated businesses involved in energy and infrastructure services, broadband and telecommunications services, and other ventures; and Exelon Generation Company.

Exelon Generation currently owns and operates approximately 37,000 megawatts of diversified electrical generation, including 17 nuclear reactors which generate 16,970 megawatts of electricity. We have another 8,500 megawatts of non-nuclear generation under construction or development. Exelon is the largest nuclear operator in the country, with approximately 20% of the nation’s nuclear generation capacity, and the third largest private nuclear operator in the world. AmerGen Energy is a partnership between Exelon Generation and British Energy of Edinburgh, Scotland that was created to purchase nuclear power plants in the United States. AmerGen currently owns and operates nuclear plants in Illinois, New Jersey, and Pennsylvania.