NEWS UPDATE

DEC Chair & CEO Discusses 'The Nuclear Renaissance'
at the Detroit Economic Club

DETROIT, February 12, 2007 - The Detroit Economic Club (DEC) hosted Anthony Earley, Jr., chairman & CEO, DTE Energy. Earley shared his perspectives on the challenges and opportunities facing the nuclear energy industry. His speech, titled "The Nuclear Renaissance: Is It Real?" addressed the nationwide need for more electricity, and the inevitability that there will be new nuclear power plants in our future.

In anticipation of this "nuclear renaissance," Earley announced that DTE Energy is beginning preparations for a new nuclear power plant in Michigan.

“Today I’m pleased to announce that DTE Energy has started work on preparing a license application for a new nuclear plant at our existing Fermi site near Monroe. This is the first step to providing clean, reliable and affordable energy for the better part of the rest of this century. And with it, we will provide thousands of highly-paid jobs to skilled Michigan workers. But despite my enthusiasm for this first step, let me be clear - we haven’t made a final decision to build, but rather we’re preserving our option to build at some point in the future by beginning the long and complex licensing process right now. Given the four to five year timeframe for the federal licensing process and the five to six year construction period, we need to take this step immediately to have any chance of having the plant ready to operate in the next decade.”

Download a broadcast-quality audio file of the above selection from Earley's remarks. Size: 1.20 Mb. Duration: 52 seconds.

Earley emphasized the continually growing needs for energy over the next couple of decades.

“The U.S Energy Information Administration predicts that by 2030, electricity sales in our country will increase by about 45 percent. So just to keep our current fuel mix, by 2030 we would need to add 50 additional nuclear plants, 93 wind farms consisting of thousands of windmills, 279 natural gas plants, and 261 coal plants. You don’t believe those numbers? Cut them in half, and you still have a massive infrastructure construction program that’s required. Closer to home, our state will require at least one new base load plant by 2015, according to the just-published 21st Century Energy Plan. And we’ll need additional plants soon after that.”

Download a broadcast-quality audio file of the above selection from Earley's remarks. Size: 1.08 Mb. Duration: 47 seconds.

Click here to download a print-quality photograph of Anthony Earley, Jr. at the Detroit Economic Club on February 12, 2007. Photo credit: Jeff Kowalsky.

The Detroit Economic Club was formed in 1934 as a platform for the discussion and debate of important business, government and social issues. It is known internationally as a top speaking forum for prominent business and government leaders, who address members and their guests at the Club's 35 meetings a season. With more than 3,000 members, the DEC is about vital issues, prominent voices, a commitment to education and inspiring leadership. The Club is proud to have hosted every sitting U.S. President since Richard Nixon and proud to have been ranked among the top speaking platforms for CEOs.

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