ML13333A642
| ML13333A642 | |
| Person / Time | |
|---|---|
| Site: | San Onofre  |
| Issue date: | 12/04/1987 |
| From: | Rood H Office of Nuclear Reactor Regulation |
| To: | |
| Shared Package | |
| ML13333A640 | List: |
| References | |
| TAC-66406, TAC-66407, TAC-66408 NUDOCS 8712240005 | |
| Download: ML13333A642 (2) | |
Text
UNITED STATES NUCLEAR REGULATORY COMMISSION SOUTHERN CALIFORNIA EDISON COMPANY, ET AL.
DOCKET NO. 50-206, 5O-361 AND 50-362 NOTICE OF PROPOSED CORPORATE RESTRUCTURING Notice is hereby given that the United States Nuclear Regulatory Commission (the Commission) is considering approval under 10 CFR 50.80 of the proposed corporate restructuring of Southern California Edison Company (SCE),
the majority owner and operator of the San Onofre Nuclear Generating Station (SONGS), Units 1, 2, and 3. By letter dated August 25, 1987, and supplemental letter dated Decenmber3, 1987, SCE informed the Commission that it has begun the process of implementing a corporate restructurina which will result in the creation of a holding company (referred to as "SCE Holding Company," although no formal name has yet been selected).
The common stock of SCE will be converted on a share-for-share basis into common stock of the holding company. SCE Holding Company will own all of the outstanding commion stock of SCE.
Following the restructurina SCE will continue to be the licensee of the SONGS nuclear plants and no transfer of the operating licenses will be effected. After the restructuring is complete, SCE will remain a public utility providing the same utility services as it did prior to the restructuring. Control of the operating licenses for the SONGS nuclear plants, now held by SCE and other plant co-owners, will remain with SCE and the same owners and will not be affected by the restructuring. The current SCE Chairman of the Board of Directors and Chief Executive Officer will also be Chairman of the Board of the SCE Holding Company.
SCE's Vice Presideft of Nuclear Engineering, Safety and Licensing, and SCE's Vice President and Site Manager of SONGS, will retain the same responsibilities as they have now, and will have no duties, assignments or responsibilities within SCE Holding 8712240005 871204 PDR ADOCK 05000206 H
g-L Company. Thus, there will be no significant change in ownership, management, or sources of funds for operation of the SONGS units, according to the proposed plan.
Pursuant to 10 CFR 50.80, the Commission may approve the transfer of control of a license, after notice to interested persons, upon the Commission's determination that the holder of the license following the transfer is qualified to have the control of the license and that the transfer of such control is otherwise consistent with applicable provisions of law, regulations and orders of the Commission.
The August 25 and December 3, 1987 letteisfrom SCE are available for public inspection at the Commission's Public Document Room, 1717 H Street, Washington, D. C. and at the General Library, University of California at Irvine, Irvine, California 92713.
Dated at Bethesda, Maryland, this 4-th day of December, 1987.
FOR THE NUCLEAR REGULATORY COMMISSION Harry Rood, Senior Project Manager Project Directorate V Division of Reactor Projects -
- III, IV, V and Special Projects