ML20125C380

Returns Util 790403 Financial Schedules & Forecasts & 10CFR2.790 Request Re Util Share in Facilities.W/O Encl.Nrc Will Investigate Potential Harm from Third Parties in Determining Proprietary Status

ML20125C380
Person / Time
Site:	Palo Verde
Issue date:	12/21/1979
From:	Parr O Office of Nuclear Reactor Regulation
To:	Toler G ARIZONA PUBLIC SERVICE CO. (FORMERLY ARIZONA NUCLEAR
References
NUDOCS 8001080680
Download: ML20125C380 (3)

Text

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pa tto o

g UNITED STATES

[M ES ;q g NUCLEAR REGULATORY COMMISSION

. r wAsstNoTon,o.c.20sss 0 *

'%d m.C 11 197' Docket Nos. STN 50-592 D , ,

)D

,D 3_1. @ .-

and STN 50-593 o a ni o . 2_ diftLa ,

1 Mr. George H. Toler Treasurer Arizona Public Service Company 1 Post Office Box 21666 '

Phoenix, Arizona 85036

SUBJECT:

REQUEST FOR WITHHOLDING FINANCIAL 14Fnmn?!NI repo, pUBLIC DISCLOS""r By your letter, dated April 3,1979, you submitted financial schedules and forecasts relating to the Arizona Public Service Corpeny 3 share of the Palo Ve*

Muclear Generating 5tation, Units 4 and 5, and rewested that they be withheld from public disclosure pursuant to 10 CFR 2.790. ,

Your reasons for requesting our withholding of this infor' ration were that (1) the information was prepared from data available for internal use only, (2) such data have been and will continue to be held in ccnfidence by your )

company, and (3) substantial harm may be caused to the company if the '

submitted information is made publicly available.

Subsequently, by letter, dated September 7,1979, fren E. E. Van Brunt, Jr.,

we were requested that concurrent with the withdrawal of the application fer Palo Verde, 4 and 5, we return the above financial in# creation to you. In compliance with this request, we are returning the subject information since it is no longer necessary for us to make a finding regarding your i financial qualifications for the withdrawn application.

Prior to the withdrawal of the application, a meeting was held with your representatives on May 23, 1979, to discuss your reasons for requesting our withholding of the financial information. Since your representatives stated that the concern about releasing the information was the potential harm from a third party action (not the SEC), we agreed to look into this concern before acting on your request. We subsequently met with the Division of Corporation Finance of the SEC to discuss the above concern and would like to provide for your information what we learned from the SEC. 90009233 080 go -

8001 g-

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Mr. George H. Toler _

At the meeting held with the SEC, the SEC inforned us of the following:

(1) It is the opinicn of the SEC's Division of Corporation of Finance that disclosure of the projections to a regulatory agency such as the NRC are distinguishable from the tyce of projections presented in a prospectus for the marketing of securities.

(2 ) Notwithstanding the above, the SEC is encouraging disclosure of projections and forward looking information both i SEC filings and, in general, through its safe harbor rule effec:ive July 30, 1979.

(3 ) The SEC stated that it felt that disclosure af "nancial projections dnd prediction of dividends Would be "deePed DCt tc De false or misleading under the federal securities laws unless they were prepared without a reasnnable basis or disclosed other th.!n in "ood faith".

(4 ) Consequently, the SEC felt that there would be oc . iable liability to an NRC applicant in its projections being made public by the NRC.

Please advise us if you have any questions regardino this letter.

Sincerely, D.Vs_

lan O. Parr, Chief Light Water Reactors, 3 ranch No. 3 Division of Project Management

Enclosure:

As Stated cc: w/o

Enclosure:

See Next Page 90009234 l

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Mr. E. E. Van Bront , Jr. E " ' 0 79 Vice President f.ocl~c Project Managemont " ~

Arizona Publir '.erv 5 Con pany D*0 f gL1 Y P. O. Box 21666 o '~M ag Phoenix, Arizon i 'M 0 3 6

.'anice E. Kerr, Esq.

cc: Arthur C. Gehr , Es q. ,. Calvin Simpson, Esq.

Snell & Wi tn'cr .t i ncent MacKenzie , Esq.

3100 Valley Center Cali fornia Public Utilities Phoenix, Arizon.i 35073 Cornois s i on 5056 State Building Charles S. Piersen , Assistant c an Francisco, CA 94102 Attorney Geretal 200 State Capitol tathryn Burkett Dickson, Esq.

1700 West Washinaton Park J. Urban , Esq.

Phoenix, Arizona 85007 Counsels f or the Californi.1 ! wgy Resources Conservation an '

Donald G. Gilbart, Executive Director Pevele: rent Comission Arizona Itcric t.:ergy Commission 1111 tior.e Avenue 2929 Indian School Road Sacramento, CA 95825 Phoenix, Arizona 85017 George Camt bel' Chairman Maricopa County '! nard of Supervisors 111 South Third Avenue Phoenix, Arizona 85003 Mr. Larry Card P. O. Box 793 Tempe, Ari rena 35281 Dr. Stanley L. Dolins Assistant Direct or Energy Programs (OEPAC)

Office of the Governor 1700 West Washington Executive Tc.,er - N. 507 Phoenix, Arizena 85007 Tom Di amend , Esq.

1208 First City National Bank Buiding El Paso, Texas 79901 90009235

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