ML20125C387

Returns Util 790503 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

ML20125C387
Person / Time
Site:	Palo Verde
Issue date:	12/21/1979
From:	Parr O Office of Nuclear Reactor Regulation
To:	Master V SAN DIEGO GAS & ELECTRIC CO.
References
NUDOCS 8001080695
Download: ML20125C387 (3)

Text

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UNITED STATES NUCLEAR REGULATORY COMMISSION l

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,gn i, 1979 Docket Nos. STN 50-592 and STN 50-593 1

Mr. Vincent P. Master, Jr., Esquire  !

San Diego Gas & Electric Company P. O. Box 1831 j San Diego, California 92112

SUBJECT:

REQUEST FOR tlITHHOLDING FINAf4CIAL If;F0PMATIOff FPON PUBLIC DISCLOStlRE By your letter, dated May 3,1979, which included an affidavit signed by Mr. Richard Korean, Acting Treasurer of the San Diego Cas & Electric Companv.

you submitted financial schedules and forecasts relating to the company's share of the Palo Verde Nuclear Generating Station, Units 4 and 5, and requested that they be withheld from public disclosure pursuant to 10 CFR

2. 790.

Your reasons for requesting our withholding of this information 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 confidence 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, from E. E. Van Brunt, Jr.,

we were requested that concurrent with the withdrawal of the application for Palo Verde, 4 and 5, we return the above financial information 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information since it is no longer necessary for us to make a finding regarding your financial qualifications for the withdrawn application.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 i that the concern about releasing the information was the potential harm from 1 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. 90009227 i

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Mr. Vi ncent P. N'a ster , Jr . , Es qui re " iF At the meeting held with the SEC, the SEC informed us of the following:

(1) It is the opinion of the SEC's Division of Cernoration of Finance that disclosure of the projections to a rogulm.ory agency such as the NRC are distinguishable from the type of frojecticns presented in a prosrectus for the marketing of securities.

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

(3 ) The SEC stated that it felt that disclosure nf rart:a1 projections and prediction of dividends would be "deec ed not to be false or misleading under the federal securities laws unless they were prepared without a reasonable basis or disclosed othor than in orod faith".

(4 ) Consequently, the SEC felt that there would be no viat'le liability to an NRC applicant in its projections being nede public by the i;RC.

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

Sincerely, dr Gf Light Water Peactors, 3 ranch No. 3 Division of Project i'anagement

Enclosure:

As Stated cc: w/o

Enclosure:

See Next Page 90009228

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Mr. E . E . Va n B rur't , J r . e-

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Vice President-M!rar Prefect 7E 3 2 N Management Arizona Public 'er"icn c orrany P. O. Bo x 2160 t.,

Phoenix, Arizoni 85nM ,

'anice E. Kerr, Esq.

cc: Arthur C. Gehr. Esq. J. Calvin Simpson, Esq.

Snell & Wilmer li ncent Ar:enzie , Esq.

3100 Valley Center r a t if ornia Public Utilities Phoenix, Ariz,rvi 85073 Conunis s i on LCe6 State Guilding Charles S. rio son , Assistant ;qn Francisco, CA 94 102 Attorney R eeral 200 State Capitol Pa thryn Burkett Di ckson , Esq.

1700 West Mshirujton "a rk J. Urt;an , Esq.

Phoenix, Arizona 35007 "consels f or the Californio i re' gy Pesources Conservation am!

Dona ld G. 'ii l bert . Executive Cirector Eewlement Comission Arizona Atem: i.nergy Commission 111 hn.e toenue 2929 Indian Scheni Road lacrarroM, CA 95825 Phoenix , Ar ' nN 85017 George Cam be , '3 airman Maricopa CoqM, Soard of Supervisors 111 South Ibird .bienue Phoenix, Arizona 85003 Mr. Larry Car't P. O. Box 733 Tempe , Ari zon a '9281 '

Dr. Stanley L. Dolins As sistant Di rac'.or Energy Programs (OEPAD )

Office of the c overror 1700 West '.lashingtor, Executive Tower - n'n . 507 Phoeni x , Ar i 7 "n.i 35007 Tom Di amond , Esa.

1208 First City flational Bank Buiding El Paso, Texas 79901 90009229 I

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