ML20010H098
| ML20010H098 | |
| Person / Time | |
|---|---|
| Site: | Millstone  |
| Issue date: | 09/09/1981 |
| From: | NRC |
| To: | |
| Shared Package | |
| ML20010H096 | List: |
| References | |
| NUDOCS 8109230321 | |
| Download: ML20010H098 (3) | |
Text
-_
y a; 4 g
L-gr d'
{
g g
y
. gr f;-
'p u
n 7590-01 UtlITED STATES NUCLEAR REGULATORY C0!! MISSION DOCKET NO. 50-423 NORTHEAST NUCLEAR ENERGY C0WA!!Y, ET AL.*
MILLSTONE NUCLEAR P0tER STATION, UNIT NO. 3 NOTICE OF ISSUANCE OF AFENDfENT TO CONSTRUCTION PERMIT The U. S. Nuclear Regulatory Comission (the Commission) has issued Amendment No. 7 to Construction Pemit No. CPPR-113. The amendment adds Connecticut thnicipal Electric Energy Cooperative as a co-ouler and reflects a transfer of 1.739% ownership shares from Public Service Company of New Hampshira to Connecticut Municipal Electric Energy Cooperative for the Millstone Nuclear Powr Station, Unit No. 3 (the facility), located in New London County, Connecticut. The amendment is effective as of its date of issuance. -
/
/
- The following are holders of ConsIruction Pemit No. CPPR-ll3: Ashburnham Municipal Light Plant, Boylston Hunicipal Lighting Plant, Central 11aine Power Company, Central Vemont Public Service Corporation, Chicopee Municipal Lighting P1 ant, City of Burlington, Yemont, City of Holyoke, Connecticut Municipal Electric Energy Cooperative, Massachusetts Gas and Electric Department, The Connecticut Light and Power Cmpany, Fitchburg Gas and Electric Light Company, Green flountain Powr Corporation, The Hartford Electric Light Company, Marblehead Municipal' Light Department,' Massachusetts Municipal Wholesale Electric Company,
!!iddleton Municipal Light Department, Montaup Electric Company, New England Power Cmpany, North Attleboroujh Electric Department, Northeast Nuclear Energy Company,,Paxton Municipal Light Department, Peabody Municipal Light Plant, Public. Service Company of New Hampshire, Shrewsbury Light Plant, Templeton 11unicipal Lighting Plant, Town of South Hadley Electric Light Department, The United, Illuminating Company, Vemont Electric Cooperative, Inc., Yemont Electric Power Company, Inc., The Village of Lyndonville Electric Department, Wakefield Municipal Light Department, West Boylston Municipal Lighting Plant, Western Massachusetts Electric Company, Westfield Gas and Electric Light Department.
/
"'c ' >........'......
'^% Q$$1 S h.....................................................
o urc rom. A -....- ouo OFFICIAL RECORD COPY
' " ' w a2 n2.
\\.
3 6
Ci
,f V
7 y The appl', cation for the amendaent complies with the standards.nd requirements of the Atomic Energy Act of 1954, as amended (the Act), and the Comission's rules and regulations. The Comission has made appropriate findings 7.s required by the Act and the Comission's rules and regulations in 10 CFR Chapter I, which are set forth in the anendient. Prior public notice of this amendment was not required since the amendment does not involve a significant hazards consideration.
For further details with respect to this action, see (1) the application for amendaent, dated June 10,1931,; (2) /cendment tio. 7 to Construction Pemit CPPR-ll3; ar,d (3) the Commission's related Safety Evaluation. All of these items are
.tvailable for public inspection in the Comnission's Public Document Room, 1717 li Street, N. W., Washington, D. C., and at the Waterford Public Library, Rope Ferry Road, Route 156, Waterford, Connecticut 06305.
Itens 2 and 3 may be requested by writing to the U. S. Iluclear Regulatory Conmission, Washington, D. C., 20555. Attention:
Director, Technical Infomation and Document Control.
4 7
Dated at Bethesda, Maryland, this k day of g h,1981.
FOR TliE fluCLEAR REGULATORY C0FlilSS10tl
/s B. J. Youngb ood, Chief Licensing Branch No. 1 Division of Licensing
[
j CC^7m
' p p'Qk1 g*
qV aV D%kv %/
- _Nh, UL:L UL : Ltif71 ULLU
UL : }'
1
"'c'>
1 5""" " > l.Rus,h, 700 (yp..JG ra d,@....
OI,$c,L M f
3./L-/81}oo BJ.Y.ou gb 81 8/O / 1 CjD/3/81 A
em) mac rosu ais no sm uscu eno OFFICIAL RECORD COPY
p m -.
Vk..~.W
'W A7 f
.b s
c.g.
.O f~
eV o
y y
UNITED STATES NUCLEAR REGULATORY COMMISSION DOCKET NO. 50-423 NORTHEAST NUCLEAR ENERGY C01PANY, ET AL.*
MILLSTONE NUCLEAR POWER STATION, UllIT N0d NOTIC 0F ISSUANCE OF AIENDENT TO CONSTRUCTION PERMIT The U. S. Nuc1 car Regu tory Conaission (the Commission) ha ssued Amendment No. 7 to Construction Penait CPPR-ll 3.
The amendnent.refl ts a transfor of owiership shares fron Public Serv e Company of New Hamps re to Connecticut tiuni-
' cipal Electric Energy Cooperative, c wners of the listone Nuclear Power Station, Unit No. 3 (the facility), located in New Londo ounty, Connecticut. The amendment is effective as of its date of issuance.
"The following are hol. ers of Construction Pemit No. C R-il3:
Ashburnham Municipal f.ight Plant, Boylston Municipal Lighting Plant, Central Maine Powe Company, Central Vemont Public Servich Corporation, Chicopee Municipp Lighting Plant, City of Burlington, Yemont, City of Ilolyoke, Massachusetts Gas and Electric Department, the Connecticut Light and Power Company, Fitchburg Gas and Electric Light Company, Green Mountain Power Corporation, The Hartford Electric Light Company, Marblehead Municipal ight Department, Massachusetts flunicipal Wholesale Electric Company,/ iddleton Municipal Light Department, Montaup Electric Company, New England Power Company, North Attleborough Electric Department, North ast Nuclear Energy Company, Paxton 'iunicipal Licht Department Peab y 11unicipal Light Plant, Public Service Conpany of New Hampshire, Shr usbury Light Plant, Templeton Municipal Lighting Plant, Town of South Hadley Electric Light Department, The United Illtrainating Company, Vemont Electric Cooperative, Inc., Yemont Electric Power Company, Inc.,
The Village of Ly idonville Electric Department, Wakefield flunicipal Light nonartmont Wettyylston Municinal Lightino Plant. Western Masstchusetts o,,,eq... Electric Company, Westfleid Gas and Electric Light Department.
- om) une ronu ais.io,soi necu o24o OFFICIAL RECORD COPY
" o " -329 24
SEP 0 91981 ENCLOSURE SAFETY EVALUATION REPORT MILLSTONE NUCLEAR POWER STATION, UNIT NO. 3 INTRODUCTION On June 10,.1931, Northeast Nuclear Energy Company requested an amendment to its construction pennit for the Millstone Nuclear Power Station, Unit No. 3, to secure approval of a transfer in ownership percentages.
This request involved a transfer from Public Service Company of New Hampshire (PSNH) of a 1.7391% ownership share (20MW) in Millsene Unit No. _3 to the Connecticut Municipal Electric Energy Cooperative (CMEEC).
The staff's concern, from a financial qualifications standpoint, is the capability of CMEEC to assume financial responsibility for its proposed increase in ownership interest in the subject facility.
The Nuclear Regulatory Commission's regulations relating to the detennination of an applicant's financial qualifications are Section 50.33(f) and Appendix C to 10 CFR Part 50.
ANALYSIS Description of Busir.ess of Proposed Co-0wner and Co-Applicant CMEEC, the proposed transferee from PSNH, is a public corporation, a public body corporated and politic and political subdivision of the State of Connecticut, organized under Chapter 101a of the Connecticut General Statutes.
$$7-233a to 7-233w.
CMEEC's present participants are three Connecticut municipalities (the Cities of Groton and Norwich and the Borough of Jewett City)
(" Participants") which own and operate their own municipal electric systems under Chapter 101 of the Connecticut General Statutes, $$7-213 to 7-233, and provide electric power and energy to residential, commercial, and industrial customers within their respective service areas. CMEEC's principal business is the sale of electric power to the three Participants. CMEEC is authorized, among other things, to purchase and sell power, to construct and acquire electric generating facilities, and to finance such purchases, construction, and acquisitions. CMEEC has entered into power supply contracts with the Participants under which CMEEC will supply them with all of their power and energy requirements e
(beyond that which can be provided from their existing generating facilities) on a "take and pay basis."
Cost Estimates and Amount of Ownership Interest Proposed for Transfer The most recent cost infonnation for the proposed partial ownership transfers of Mir stone Unit No. 3 facility are stated in the financial infonnation submitted
- 2.-
SEP 0 91981
- under Northeast Nuclear Energy Company's letter of application, dated June 10, 1981.
These costs and their tic 1,9 are summarized as follows:
ClHULATIVE ESTIMATE OF CMEEC's SHARES OF MILLSTONE UNIT NO. 3 Construction Expenditures YEAR (Million of Dollars) 1981
$15.191 1982 19.697 1983 23.788 1984 27.780 1985 31.498 1986 32.727 The above excludes amcunts projected to be realized for the Westinghouse Nuclear Fuel Settlement, thereby reflecting total unit costs (excluding transmission and allowance for funds used during construction) to be $38 million for CMEEC's 1.7391 percent ownership share of Millstone Unit No. 3.
These costs are based upon total design and construction costs estimated at 52.187 billion for-the facility.
Financing Plan - Sources of Funds for CMEEC's Ownership Participation in Millstone Unit No. 3 CMEEC has entered into Power Sales Contracts with the Participants to supply all of their power requirements (with minor exceptions).
Such Contracts require the Participants to pay all of the costs of CMEEC, including CMEEC's debt service requirements, so long as any power is delivered to the Participants.
CMEEC began delivering power under such Contracts on October 1,1980.
The Power Sales Contracts provide that each Participant will charge rates and charges sufficient to pay its share of all of CMEEC's costs including debt service.
Under a bond resolution to be adopted by CMEEC, CMEEC will pledge all of the revenues derived under the Power Sales Contracts to the payment of the bonds, subject to the prior payment of all operating and maintenance expenses.
CHEEC will establish and maintain a debt service reserve fund to be held by a bank trustee for the benefit of the bondholders, in an amount equal to the maximum annual debt service.
I The bond resolution will also contain certain other conventional requirements and convenants as are necessary to ensure broad market acceptance of the bonds
~
and to safeguard the rights and security o'f the bondholders.
a SEP 0 91981 CONCLUSION Based on the preceding analysis, we have concluded that CMEEC is financially qualified to participate in the construction of Millstone Unit No. 3 at the proposed 1.7391% ownership interest. This conclusion is based on our determination that CMEEC has financing plans that provide a reasonable assurance that funds can be obtained to finance its proposed share of the construction and related fuel cycle costs. Consistent with this, CMEEC possesses rate setting authority that permits -it to set rates at such levels with its member municipality participants that will enable it to repay its obligations. As a condition subsequent to this amendment, however, we require an executed final copy of the Joint Participation and Ownership Agreement for Millstone Unit No. 3.
This must necessarily be in substantial conformity with the provisional agreement heretofore supplied. As a further condition subsequent to this anendment, we will also require a copy of CMEEC's official statement issued in conjuction with the issuance of bonds issued to finance the construction of its share of Millstone Unit No. 3.
On the basis of the above conclLaions, we find that the issuance of the requested snendment transferring ownership percentages from PSNH to CMEEC will not be inimical to the health and safety of the public. We find that the requested snendment does not involve a significant hazards consideration because this action will not involve any significant increase in the probability or consequences of an accident, and this action will not involve any significant decrease in safety margin.
Dated issued: SEP 091981 I