DTE Pursuing Possible New Nuclear Plant at Fermi Site

Earlier today, DTE Energy President and CEO Tony Earley delivered a speech on the future of nuclear energy at the Detroit Economic Club. In that speech, Early revealed that the company is pursuing plans for a possible new nuclear power plant at the company's Fermi site in Monroe, Michigan:

When I addressed this group in 2002, my comments about nuclear energy were brief and pretty discouraging. I predicted that while most nuclear power plants would have their licenses renewed, no new nuclear power plants would be built in the U.S. to accommodate growing demand.

Today I’m here to tell you that I was dead wrong. Despite the condition of our economy, within the next decade, Michigan—and the rest of our country, for that matter— will need more electricity … a lot more, and pollution-free nuclear power has to be an important part of the mix.

Today I am 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 highly skilled Michigan workers. But despite my enthusiasm, let me be clear that we have not yet made a final decision to build. Rather, we are preserving our option to build at some point in the future by beginning the long and complex licensing process now.

Read the rest of the speech right now.