ML20083B851

Advises That Eua Power Corps Financial Obligations to Seabrook Project Are Fully Up to Date,Per 910829 Bankruptcy Court Approval of Ui & Cl&P Arrangement

ML20083B851
Person / Time
Site:	Seabrook
Issue date:	09/17/1991
From:	Feigenbaum T PUBLIC SERVICE CO. OF NEW HAMPSHIRE
To:	NRC OFFICE OF INFORMATION RESOURCES MANAGEMENT (IRM)
References
NYN-91150, NUDOCS 9109250229
Download: ML20083B851 (2)

Text

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New Hampshire Ted C. Feigenbovm an ee - . - .

nuef t mutive ohm NYN 91150 September 17, '991 United States Nuclear llegulatory Commission Washington, D.C. 20555 Attention: Document Control Desk iteferences: (a) Facility Operating 1.icense No. NPF46, Docket No. 50 443 (b) New llampshire Yankee letter (NYN.91120) dated August 15, 1091 T. C. Feigenbaum to USNitC;

Subject:

I!UA Power

Subject:

LiU A Power Gentlemen:

On August 15, 1991, New ilampshire Yankee (NilY) informed the NitC llteference (b)) that liUA Power Corporation ('liUA l'ower"), one of the Scabrook Station licensers, had advi6ed the llankruptcy Court that beginning Sep; ember 1,1991, it would not be able to meet ias monthly payments to the Scabrook Project, and th,it it had not determined what part, if a- y, of its August payments would be made. That same letter also stated that an arrangement had becq worked out with othe Scabrook Joint Owners, subject to llantiuptcy Court approval, to assure adequata tunding of its share of project costs.

On Augurst 29, the llankruptcy Court appemed an arrangement whereby two of the Joint Owners, The United Illuminating Company (Ul) and The Connecticut I.ight and Power -

Company (CL&l'), agreed to make advances, in an aggregate amount not to exceed l'ifteen million dollars outstanding at any one time, to emer !!U A Powes',. share of Scabrook expensch as needed to the extent not covered by liUA Power's revenues from energy or capacity sales. As a result, IIU A Power's obligation 6 ,o the Seabrook Project are now fully up to date.

CL&P and liUA Power have applied jointly to the Securitics and lixthange Commission for approval for making and receiving such advances, respectively. l'ending this approval, UI will make advances pursuant to the stipulation as if UI was providing 100%

of the advances up to an aggregate amount of nine million dollars.

Ob 9109250229 910917 \ ()

PDR ADOCK 05000443 I PDR New Hampshire Yonkoe Division of Public Service Company of New Hampshire O O 14 '9 P.O. b 300

• Seabrook, NH 03874 + Telephone (603) 474 9521

Unitec Sthles Nuclear Regulatory Commission September 17, 1991 Attention: Document Control Desk l' age t w<i if you have any (urther questions on this issue, picase call Mr. Terry L. Ilarpster, Director of Licensing Services, at (603) 474 9521 extension 2765.

Very truly yours, p,h, y vb'L Ted C Feigent aum i C":J till/ss cc: Mr. Thomas T. Martin Regional Administrator United States Nuclear Regulatory Commission 4,egion I 475 Allendale Road King of Prussia, PA 19406 Mr. Gordon E Edisoi., Sr. Project Maneger Project Directorate 1-3 Division of Reactor Projects U.S. Nuc! car Regulatory Commission Wasi, ngton, DC 20555 Mr. Noel Dudley NRC Senior Resident inspector l',0. Box 1149 Scabrook, Nil 03874 i

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