{"id":13780,"date":"2016-11-04T17:50:25","date_gmt":"2016-11-04T21:50:25","guid":{"rendered":"https:\/\/digital.hbs.edu\/platform-rctom\/submission\/exelon-leader-of-nuclear-powers-future\/"},"modified":"2016-11-04T17:50:25","modified_gmt":"2016-11-04T21:50:25","slug":"exelon-leader-of-nuclear-powers-future","status":"publish","type":"hck-submission","link":"https:\/\/d3.harvard.edu\/platform-rctom\/submission\/exelon-leader-of-nuclear-powers-future\/","title":{"rendered":"Exelon – Leader of Nuclear Power’s Future"},"content":{"rendered":"

As both an energy generation and power delivery company, Exelon has invested heavily in its Energy Generation Division to utilize alternative energy production sources, most notably nuclear power[1]<\/a>. \u00a0Exelon leads the U.S. by owning and operating 14 nuclear reactors[2]<\/a>. Through Exelon\u2019s nuclear power assets, the company provides regions of the U.S. with a high-capacity and reliable baseload output of electricity, while additional forms of renewable energy supply the variable demand for power. Despite the controversy regarding the future of nuclear power, the U.S. can significantly benefit from its continued employment as a carbon-free baseload of electricity, and Exelon stands ready to deliver that output.<\/p>\n

The U.S. generates 19% of its total electricity and 60% of its carbon-free electricity from nuclear power. The reactors generating this power, however, average over 30 years old, and need continued maintenance and investment[3]<\/a>. Regulators have long opposed nuclear power citing incidents such as Three Mile Island, Chernobyl, and most recently Fukushima in 2011. These vestiges of nuclear power, and enormous upfront capital investment costs, have prevented any new construction reactors since the late 1990s.<\/p>\n

Continued improvement in the political landscape for nuclear power and emphasis on climate change and carbon reduction has begun to shift the public perception of nuclear power\u2019s contribution to national energy production. Recent discussions in December, 2015 at the U.N. Climate Change Convention in Paris specified\u00a0carbon reduction targets, and experts noted that achieving the targets will be nearly impossible without any emphasis on nuclear power for a baseload.[4]<\/a> This shift in perspective will certainly not offset the high cost of building a new nuclear reactor. However, it may provide incentives to continue to fund active reactors by encouraging support for the maintenance and permits required to operate the aging reactor population.<\/p>\n

Exelon is well suited to accept this shift in energy preferences and continues to invest in its reactors through its Reactors Improvement Program. The funds associated with this program ensure that the reactors can contribute their greatest strength: dependable, reliable power output at a low variable cost. The Exelon reactors, on average, have a utilization capacity of 93.7%, and only need to shut down for routine maintenance. The variable costs associated with operating the reactors once critical are very low compared to competitive sources of energy \u2013 the upfront costs, which Exelon endured decades ago \u2013 deter future capital investments by other firms. [5]<\/a><\/p>\n

To continue to improve the maintenance process for its reactors and to reduce the shutdown maintenance time, Exelon has invested in additional technological resources. For example, it now uses drones to conduct inspections on components that are difficult for employees to view. Additionally, the firm invested in virtual reality software for the technicians whom perform the reactor maintenance, to be able to visualize the working conditions within a specific reactor and become familiar with the job. This serves to minimize the time the technicians are exposed to potentially hazardous conditions and allows\u00a0reactors to return back to operation faster[1]<\/a>.<\/p>\n

Though Exelon stands ready to assume the additional energy demand on its reactors, it also prides itself on its sustainability program and commitment to clean energy and nuclear waste management. As reactors age, depleted nuclear fuel and waste associated with the radioactive components of the reactor are an increased concern. Exelon\u2019s robust process for nuclear waste serves to reassure the public of its commitment to the highest standards of social responsibility. Though the U.S. government has yet to determine where to store nuclear waste indefinitely, Exelon maintains all by-products safely on site, in reinforced concrete vaults underground[6]<\/a>. Exelon is the leader of its nuclear industry, prides itself on its nuclear infrastructure, and is excited for the new opportunities as the country mitigates climate change.<\/p>\n

(705 words)<\/p>\n

[1]<\/a> Exelon Annual Report. (2015). Exelon 2015 Summary Report. <\/em>Retrieved from \u00a0http:\/\/www.exeloncorp.com\/company\/Documents\/Annual%20Report%20Final%20High-Res.pdf<\/a><\/p>\n

 <\/p>\n

[2]<\/a> Unknow, (2015, 31 Oct). The Future of Nuclear Energy: Half Death. The Economist. <\/em>Retrieved from http:\/\/www.economist.com\/news\/international\/21677243-nuclear-power-emits-no-greenhouse-gases-yet-it-struggling-rich-world-half-death?zid=298&ah=0bc99f9da8f185b2964b6cef412227be<\/a><\/p>\n

 <\/p>\n

[3]<\/a> Harder, Amy (2016, 16 June). Environmental Groups Change Tune on Nuclear Power. The Wall Street Journal<\/em>. Retrieved from http:\/\/www.wsj.com\/articles\/environmental-groups-change-tune-on-nuclear-power-1466100644<\/a><\/p>\n

 <\/p>\n

[4]<\/a> Levitan, Dave (2016, 6 March). Is Nuclear Power Our Energy Future, or in a Death Spiral? Ensia Magazine. <\/em>Retrieved from http:\/\/www.climatecentral.org\/news\/nuclear-power-energy-future-or-dinosaur-death-spiral-20103<\/a><\/p>\n

 <\/p>\n

[5]<\/a> Exelon 10-K. (2015) Exelon Form 10-K. <\/em>Retrieved from http:\/\/www.exeloncorp.com\/investor-relations\/Documents\/10K%20for%202015.pdf<\/a><\/p>\n

 <\/p>\n

[6]<\/a>Exelon Sustainability Report. (2015). Exelon Corporation Sustainability Report 2015. Retrieved from http:\/\/www.exeloncorp.com\/sustainability\/Documents\/dwnld_Exelon_CSR%20(1).pdf<\/p>\n","protected":false},"excerpt":{"rendered":"

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