Economic deregulation is a reality in the United States electricity markets and in many places abroad. Sixteen of the 31 states in the United States of America with operating nuclear power plants have already deregulated their electricity supply. It is not the only changing economic factor. In the U.S., sustained performance improvements at nuclear power plants, license renewal, sales of existing plants, and mergers are making headlines. Ten days ago, I had the privilege of participating in a ceremony marking the first 20-year license renewal for a U.S. nuclear power plant, the Calvert Cliffs units, an issue of interest to the General Chairman of this conference, Mr. Poindexter.
Good changes are in the air, and yes, there are regulatory changes.
The question, therefore, is not whether to change or not to change, but how to make change serve the best interest of each country, in a manner compatible with the worldwide market place. And, talking about change, let's look back 3 years. There have been 6, and I am not counting. The article attempts to describe the present merger-buyout financial picture, as other significant changes take place. In this article, the decommissioning gloom of 1997 is replaced by the license renewal boom, and the compliance orientation has been replaced by safety-focused regulation.