updated 11/15/2010 10:16:56 AM ET 2010-11-15T15:16:56

BOISE, Idaho, Nov. 15, 2010 (GLOBE NEWSWIRE) -- One of the huge debates swirling around nuclear power is its price. Some critics argue that even though nuclear plants offer clean, reliable sources of electricity, building new plants is just too costly.

Not so, says a new report by PricewaterhouseCoopers (http://www.world-nuclear-news.org/NP-Nuclear_is_competitive_in_Sweden_says_report-0710104.html). Commissioned by a Swedish industry group, SKGS, the report concludes that electricity from new nuclear plants would be less than two-thirds the price of electricity generated by new wind farms. "This independent report helps explode the myth that nuclear plants can't compete with wind, solar, and other popular forms of renewable power," says Don Gillispie, CEO of Alternate Energy Holdings, Inc (OTCQB:AEHI), an Eagle, Idaho-based company that plans to a build nuclear power plant in Idaho and market nuclear desalination systems around the world."

The group SKGS represents industries in Sweden that use a lot of electricity, such as steelmakers, mining companies and chemical manufacturers. These companies are worried about having enough affordable electricity in the future to remain competitive in Sweden and in global markets. So the group asked PricewaterhouseCoopers to figure out what new sources of electricity make the most economic sense.

The answer? Nukes and, if available, hydropower. Not wind. In order to get a reasonable return on investment, the report concluded, nuclear plants had to be able to sell power at minimum price 6.3 cents per kilowatt hour (kWh) without government loan guarantees and just 4.4 cents per kWh if such guarantees are available. That compares to 9.67 cents per kWh for wind and 5.8 cents per kWh for hydro.

"The new study suggests that nuclear power will be the cheapest power source," says SKGS president Kenneth Eriksson.

The PricewaterhouseCoopers figures are also very close to those estimated by AEHI's Gillispie, a 45-year veteran of the nuclear industry in the United States. "At AEHI, we are now on track to build a large dual-reactor nuclear power plant in Idaho for a total cost of about $8 - $10 billion," Gillispie says. "That would translate to a cost of about 4-5 cents per kWh according to our calculations for the electricity produced by the plants," he says. "Not only does that make nuclear power a huge bargain compared to wind and solar, but it is also a carbon-free source compared to coal, which is the biggest single contributor to global warming. Further, nuclear has the highest reliability of well over 90% compared to approximately 20% for wind and solar."

About Alternate Energy Holdings, Inc. (http://www.aehipower.com) -- Alternate Energy Holdings develops and markets innovative clean energy sources. The company is the nation's only independent nuclear power plant developer seeking to build new power plants in multiple non-nuclear states. Other projects include Energy Neutral(TM), which removes energy demands from homes and businesses (http://www.EnergyNeutralinc.com), Colorado Energy Park (nuclear and solar generation), and Green World Water(TM), which assists developing countries with nuclear reactors for power generation (http://www.GreenWorld-H2O.com), production of potable water and other suitable applications. AEHI China, headquartered in Beijing, develops joint ventures to produce nuclear plant components and consults on nuclear power.

The Alternate Energy Holdings, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8058

Safe Harbor Statement: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words "believe," "expect," "anticipate," "project," "target," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. Such statements include, among others, those concerning our expected financial performance and strategic and operational plans, as well as all assumptions, expectations, predictions, intentions or beliefs about future events, including our ability to list on a national securities exchange. These statements are based on the beliefs of our management as well as assumptions made by and information currently available to us and reflect our current view concerning future events. As such, they are subject to risks and uncertainties that could cause our results to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, among many others: our significant operating losses; our limited operating history; uncertainty of capital resources; the speculative nature of our business; our ability to successfully implement new strategies; present and possible future governmental regulations; operating hazards; competition; the loss of key personnel; any of the factors in the "Risk Factors" section of our Annual Report on Form 10-K for the most recently completed fiscal year; and any statements of assumptions underlying any of the foregoing. You should also carefully review the reports that we file with the SEC. We assume no obligation, and do not intend, to update these forward-looking statements, except as required by law.

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