Ameren seeks to build new nuclear reactor in Mo.

NEW YORK, July 28 (Reuters) - Ameren Corp's (AEE.N) AmerenUE subsidiary on Monday applied to the U.S. Nuclear Regulatory Commission for a license to build a potential new nuclear power plant in Missouri to help meet the state's growing electric demand, the company said in a release.

The company wants to build one of French nuclear engineering firm Areva SA's (CEPFi.PA) 1,600-megawatt U.S. Evolutionary Power Reactors (U.S. EPR) adjacent to its existing 1,190 MW Callaway reactor near Fulton in Callaway County.

The new plant would be capable of powering some 1.2 million Missouri homes.

Ameren noted however it has made no decision to build a new reactor at this time but was seeking NRC approval to preserve the nuclear option for the future, in part because the plant would produce power without greenhouse gases.

The application would also place the company in a position to seek nuclear-specific federal loan guarantees and production tax credits, made possible by the Energy Policy Act of 2005.

The NRC has estimated the combined construction and operating license application (COLA) process takes about 42 months.

The company said it would base its decision on the forecast power demand, the effectiveness of energy efficiency initiatives, the projected costs of building a reactor compared to building other generating facilities and state and federal regulatory and legislative actions.

Ameren signed an agreement with UniStar Nuclear Energy in 2007 to help prepare the NRC application. UniStar is a joint venture between Constellation Energy Group Inc (CEG.N) and the EDF Group (EDF.PA).

Ameren did not estimate the cost of a new reactor in its release.