Hoyer Statement on Negotiations for a Loan Guarantee for Constellation Energy

WASHINGTON, DC – Congressman Steny H. Hoyer (MD-5) released the following statement after Constellation informed the U.S. Department of Energy that it cannot move forward with the loan guarantee process regarding UniStar Nuclear Energy's Calvert Cliffs 3 loan guarantee application.

"Over the last year, I and other members of the Maryland delegation and Governor O'Malley have been working very hard to secure a loan guarantee to enable the construction of a third new reactor at Calvert Cliffs that would bring jobs to our area and protect the taxpayer's investment in the next generation of nuclear energy.  We were able to ensure that the companies had a full and thorough hearing from the Administration. Despite significant movement by the Administration on the loan package to more favorable terms for the companies, Constellation Energy has indicated that it cannot move forward with the loan guarantee process at this time.  After months of effort strongly engaging on the project's behalf, I am disappointed but will continue working to see if additional resources can be brought to bear in the days ahead to resume the loan guarantee process and allow the project to proceed."