As chairman of NEI’s Board of Directors, it is my responsibility to report to you on the state of the nuclear power industry.

Audiences generally expect a pep talk at times like these—a rosy forecast of sunny skies, smooth seas and a following breeze.

Those of you who know me recognize that “pep” is not my thing, particularly in matters of business.

I believe we are best served by cold-blooded analysis, and I fear that we place ourselves at risk if we start believing our own press releases.

Many people—in the political world, in the policy community, especially within our own industry—have great expectations for nuclear power.

Let me be clear—so do I.

Our nation needs more nuclear power, and it will come.

But we must keep these expectations harnessed to fact.

So this morning I will ask you to join me in a clear-eyed assessment of where we stand.

On the one hand, the outlook for nuclear energy is bright and growing brighter.

Our plants are operating well—better than ever, certainly better than any other type of power plant in the United States, and among the best nuclear power fleets anywhere in the world.

Our plants are reliable—turning in an average fleet capacity factor of around 90 percent, year in, year out.  Our best plants run at an astounding 95 percent capacity factor.