1. Atoms for Peace +50 Andy White – President & CEO, GE Nuclear Energy

2. Sustainable Nuclear Growth The original Atomic Industrial Forum members envisioned an Industry prospering through: Advanced Engineering Business Acumen Enlightened Public Policy Suppliers, Owners & Policy Makers … All Have Key Roles

3. Nuclear Industry Success Safety Plant Performance Economics and owner value Environmental impact The measures of success are the same today as they were 50 years ago: Has The Vision of Atoms for Peace Been Achieved?

4. Nuclear Performance Gains Unparalleled Safety & Performance Gains Are Linked 71 74 7776 74 80 85 87 89 90 Record Performance 778 Billion kWhrs Generation Capacity Factor CDF

5. Nuclear Generation Costs Down 40% Driven by Performance Improvements 30.3 29.9 27.3 25.525.2 27.2 23.5 21.2 20.5 19.4 18.8 Fuel Capital Improve O&M 2002 Dollars

6. The Environment Provides Emission Free & Sustainable Energy Resource Over the past 50 years, US Nuclear Plants Have: Generated 13.7 Trillion Kilowatt-Hours of Electricity Zero Carbon Depletion & Emission Free! Avoiding: 3.1 Billion Metric Tons of Carbon 73.6 Million Tons Sulfur Dioxide 35.6 Million Tons of Nitrogen Oxides

7. BWR PWR The US Nuclear Fleet Anchors the Grid and Stabilizes Generation Costs

8. Where Are We Today? A Key Part of the US Energy Generation Portfolio Installed Capacity Energy 11% 10% 31% 34% 14% Hydro Nuclear Coal Gas Other 8% 19% 51% 18% 4% Hydro Nuclear Coal Gas Other

9. Global Power Generation 335 GW Market Potential over Next 4 Years 35% of Orders Come from China 2003 – 2006 Orders Forecast 187 57 50 28 15 China 125 Rest of Asia 62 Rest of Asia 62 Source: EPM S1 Forecast (GW)

10. Improving Performance Nuclear Economics Good for New Unit Capital O&M Fuel $37.3 $34.4 $29.4 $22.5 Setting the Stage for New Nuclear Plants

11. Next Generation Reactors Design Highlights – 1,400 MWe Plant With Simplified Systems – Passive Safety Features Overall Schedule – Licensing Process Started 2002 – Regulatory Approval Expected 2006 Key Benefits – Faster Construction, Lower Costs – Improved Safety and Security – Improved O&M Costs ESBWR Can Meet U.S. Owner’s New Needs Latest Design for U.S. Markets ESBWR

12. Hydrogen Energy … Advantages Most Abundant Element Catalytic Process Creates Water (Fuel Cells) Energy/kg = 3x Natural Gas or Gasoline Advantages Most Abundant Element Catalytic Process Creates Water (Fuel Cells) Energy/kg = 3x Natural Gas or Gasoline Nuclear Role HTGR - Zero Carbon Depletion & Emissions Nuclear Role HTGR - Zero Carbon Depletion & Emissions H 2 Energy … A Slow Transition The Challenge Infrastructure Not in Place Cost of Energy Drives Market - No Cost of Carbon Dioxide (Greenhouse) Today The Challenge Infrastructure Not in Place Cost of Energy Drives Market - No Cost of Carbon Dioxide (Greenhouse) Today

13. Final Thoughts Nuclear Energy Is Key To a Balanced Energy Portfolio Credits for Emission Free, Zero Carbon depletion Nuclear Energy Next Generation Reactors Address Safety & Economics Need New Unit Incentives For Customers A Key Role In A Sustainable & Balanced Portfolio