Reference Docs

Presentation of the World Nuclear Association Award For Distinguished Contribution to the Peaceful Worldwide Use of Nuclear Energy


To Corbin A. McNeill, Jr.
Chairman, President & CEO, Exelon Corporation

September 6, 2001

Remarks by John B. Ritch, Director General and Agneta Rising, Chairman

JOHN RITCH:

Ladies and gentlemen, during its 25-year history, the organisation from which we grew, the Uranium Institute, chose from time to time to award a Gold Metal for distinguished service to nuclear energy.

I mentioned earlier this morning that a recent recipient of this award was our honorary chairman, Hans Blix, who was cited in 1997 for his historic service in building the International Atomic Energy Agency into a great intergovernmental institution.

This year, as we embark on a new century as the World Nuclear Association, we have continued this award but modified it slightly.

First, we have altered the title. The award now refers explicitly to distinguished contribution to the peaceful "worldwide" use of nuclear energy. Our purpose was to emphasize the nuclear industry's wide horizons and the need for visionary leadership if this marvelous technology is to be employed on an expanding global scale to meet humanity's accelerating demand for clean energy.

Second, we have changed the physical character of the award , from a gold metal to what I hope you will agree is a handsome crystalline plaque. This is so that its recipient might be more inclined to display the award than to place it in a safety deposit box , or to melt it down.

Our overall intention remains the same , to honor one among our industry's numbers whose role in the world of nuclear energy has been truly distinguished.

Unchanged also is our intent to bestow this award not as a ritual, on an annual timetable, but rather only when our Board of Management identifies a qualified recipient of such caliber as to warrant a rare and special honor.

This year the Board found that an easy task. In our deliberations, we quickly discerned a remarkable coming together of a man and a moment:

Thus, with no doubt as to merit , and with great enthusiasm , our Board of Management decided to present the World Nuclear Association's first distinguished service award to Corbin A. McNeill, Chairman and Co-CEO of Exelon Corporation.

Nuclear power today is in the forefront of clean energy technology for the 21 st century , in large part because Corbin McNeill has been in the forefront of a nuclear revival in America.

Corbin's leadership has spurred the spectacular growth in efficiency in the American industry, so that nuclear energy today is not only clean, reliable and safe but also increasingly cost-competitive in the world's largest energy market. He has led an American nuclear renaissance that can truly inspire the entire global industry.

Corbin, I would have taken great pride in bestowing this award myself. But our dynamic chairman was also eager to do the honors. So I yield happily to rank and beauty , in order that Agneta may talk further about the achievements that made you such a deserving recipient of this award.

AGNETA RISING:

Ladies and gentlemen, Corbin McNeill's career is indeed a tale of great achievement and one that reflects an interesting phenomenon in the American nuclear industry.

Since the end of the Cold War, there has been much talk about converting large quantities of enriched uranium and plutonium from military to civilian uses in a way that removes the material safely and permanently from weapons and extracts from it valuable quantities of clean energy to meet the needs of society. This process represents a modern-day opportunity to turn swords into plowshares.

Although it has not been so widely discussed, a second process of constructive conversion from military to civilian use has also been under way. I am referring to the recycling of people, from the American nuclear navy into the world of civil nuclear power. That process has brought us three leaders here today: Zack Pate, who heads the World Association of Nuclear Operators; Joe Colvin, who heads the Nuclear Energy Institute; and our honoree this morning, Corbin McNeill, who is leading not just Exelon but the American nuclear renaissance.

I trust that these colleagues will not object to being described as the products of recycling, for I mean this in the most positive way. Like other kinds of recycling, I see this one as having a highly beneficial effect on the environment!

When Corbin McNeill retired from the Navy some twenty years ago, he began to recycle immediately. He entered the civilian nuclear industry near the top, first serving in a series of senior executive capacities with the New York Power Authority and with Public Service Electric and Gas.

Then in 1988 Corbin joined PECO Energy, and the rest is history. By 1990 he had been elected President and Chief Operating Officer, and by 1997 he was PECO's Chairman, President and CEO.

At that point Corbin had reached the summit of his profession. But he was not content simply to preside over a major American utility. He also made it the best. Under Corbin's leadership, PECO Energy was named Utility of the Year and was recognized for its "exemplary performance" in the full range of business practices , from finance to investor relations to operating efficiency and market competitiveness.

But there was more to come. Only a few years ago, pessimists were certain that deregulation in the energy industry would mean the end of nuclear power. But Corbin McNeil viewed these developments through a different lens. He saw that, by consolidating, the nuclear industry could achieve great gains in efficiency and cost , gains that would enable nuclear not just to survive but to thrive in a deregulated market.

Under Corbin's direction, PECO began to expand its fleet of nuclear plants. Corbin McNeill had perceived the possibility of a revival of nuclear power in America and was now moving to bring it about.

Last year , together with John Rowe of Unicom , Corbin brought about the $32 billion merger of PECO Energy and Unicom to form Exelon. This merger represents the most significant step thus far in rationalizing and revitalizing nuclear electricity generation in America.

Today, Exelon is the largest US nuclear generator and one of America's largest utility service companies. Exelon operates 17 nuclear reactors, three of them purchased in its AmerGen joint venture with British Energy.

But Corbin McNeill also had his eye on the horizon. His vision translated to the global scene when Exelon joined with British Nuclear Fuels to support South Africa's Eskom Corporation to develop the pebble-bed modular reactor. A PBMR prototype will be constructed this year, with the aim of achieving operational status in 2005.

In supporting new nuclear technology with worldwide applications, Corbin has served notice that we can expect far-sighted American leadership in an expanding global nuclear market.

Over the years, Corbin McNeill's style has been marked by a focus on the way people work together in an organization. He is noted for building teamwork to achieve ever-greater levels of efficiency and reliability.

Corbin, it is for the combination of those management skills and your strategic vision that we offer this Award today.

The World Nuclear Association and its members are grateful for your leadership and proud to honour your "Distinguished Contribution to the Peaceful Worldwide Use of Nuclear Energy."

We present this Award with only one condition , that your work is not yet finished. We need your continued leadership in taking this industry on toward "new build" , to constructing modern, 21 st century nuclear power plants in large numbers in America and around the world!

Our warmest congratulations to Corbin McNeill.