ML17059C679
| ML17059C679 | |
| Person / Time | |
|---|---|
| Site: | Nine Mile Point  |
| Issue date: | 06/07/1999 |
| From: | Lant S CENTRAL HUDSON GAS & ELECTRIC CORP. |
| To: | |
| Shared Package | |
| ML17059C680 | List: |
| References | |
| NUDOCS 9906090159 | |
| Download: ML17059C679 (6) | |
Text
UNITED STATES OF AMERICA NUCLEAR REGULATORYCOMMISSION In the Matter of CENTRAL HUDSON GAS &
Docket No. 50-410 ELECTRIC CORPORATION.
(Nine Mile Point Nuclear
)
Station Unit No. 2)
'EQUEST FOR EXTENSION OF THE EXPIRATION
'F THE ORDER, DATED JULY 19, 1998, Steven V. Lant Chief Financial Officer, Treasurer and Secretary Central Hudson Gas & Electric Corporation
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284 South Avenue Poughkeepsie, New York 12601-4879
, Telephone: (914) 486-5254 William P. Reilly, Esq.
Gould & Wilkie One Chase Manhattan Plaza "New York, New York 10005-1401, Telephone: (212) 344-5680 June 7, 1999 990b090f59 990b07 PDR ADQCK 050004l0 H
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UNITED STATES OF AMERICA NUCLEAR REGULATORYCOMMISSION In the Matter of CENTRAL HUDSON GAS'&
) Docket No. 50-410 ELECTRIC CORPORATION (Nine Mile Point Nuclear Station Unit No. 2)
REQUEST FOR EXTENSION OF THE EXPIRATION OF THE ORDER, DATED JULY 19, 1998, I.
INTRODUCTION By-Order, dated July 19, 1998 ("NRC Order" ), the Nuclear Regulatory Commission ("Commission" ) approved Central Hudson Gas 8 Electric Corporation's
("Applicant") Application, dated April 8, 1998, as resubmitted and supplemented
("Application"), regarding Applicant's pr'oposed holding company restructuring
("Holding Company Restructuring" ). The NRC Order becomes null and void ifsuch Restructuring is not completed by July 19, 1999, but permits extension of such date "on application and for good cause shown". See Part III of the NRC Order.
II.
EXTENSION REQUEST This is an Application for extension of such expiration date to and including June 30, 2000 ("Extension" ) for the following reasons:
In Paragraph VIB6 of the Amended and Restated Settlement Agreement ("Settlement Agreement" ), referred to in Part II of the NRC Order, the New York Public Service Commission ("PSC") permitted Applicant to invest $ 100 million in its unregulated subsidiaries; but only prior to the date the Holding Company Restructuring is effected.
Applicant, as of May 31', 1999, has so invested $25.5 million in unregulated subsidiaries, which subsidiaries, in turn, have acquired utilityrelated assets.
The process of making such investments meet the'long-range goals of Applicant depends on market conditions. As a result, Applicant's investment schedule has been extended.
If Applicant were now to effect the Holding'ompany Restructuring, it would no longer be able to invest the remaining $74.5 million of such funds pursuant to said Paragraph VIB6 ("Remainder" ).
Applicant expects to have suitable investments made through its unregulated subsidiaries by the end of 1999 to exhaust all or most of the Remainder; however, no assurance can be given.
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I III.
NO MATERIALCHANGE FROM APPLICATION There have been no material changes from the facts=-set forth in the Application.
However, the PSC did issue a further Order (issued and effective June 30, 1998) which explains its earlier Order (issued and effective February 19, 1998) in greater detail. The PSC in its June 30, 1998 Order, stated that it reaffirmed its February 19, 1998 Order. A copy of the PSC's June 30, 1998 Order is attached.
'I IV.
REQUEST FOR EXPEDITED CONSIDERATION Applicant respectfully requests expedited consideration of this Application, but no later than July 18, 1999.
N V. CONCLUSION Applicant believes that the information contained in this Application represents "good cause shown" for the relief requested and will be sufficient for the NRC to grant its consent to the Extension as promptly as possible.
Respectfully submitted, CENTRAL HUDSON GAS 8 ELECTRIC CORPORATION By Name: Steven V. Lant
Title:
Chief Financial Officer, Treasurer and Secretary William P. Reilly, Esq.
Gould 8 Wilkie LLP One Chase Manhattan Plaza
.New York, New York 10005-1401 Telephone: (212) 344-5680 June 7, 1999 N
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