ML20140E986
| ML20140E986 | |
| Person / Time | |
|---|---|
| Site: | Hope Creek  |
| Issue date: | 04/30/1997 |
| From: | Oneill J SHAW, PITTMAN, POTTS & TROWBRIDGE |
| To: | NRC OFFICE OF INFORMATION RESOURCES MANAGEMENT (IRM) |
| Shared Package | |
| ML20140E990 | List: |
| References | |
| NUDOCS 9705020030 | |
| Download: ML20140E986 (2) | |
Text
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a SHAW, PITTMAN, PoTTs & TROWBRIDGE a PAMrNa RsHIP DNCLUDtNG PROFESS 40NAL CORPORATIONS 2300 N STREET. N.W.
WASHINGTON. D.C. 20037-1128 J
(202) 663-8000 FACSIMILE
(*O2) 663-8007
)
d April 30,1997 JOHN H. O'NEILL. JR. P C.
(202) 663-8148 i
By Hand Deliverv U.S. Nuclear Regulatory Commission Document Control Desk One White Flint North 11555 Rockville Pike Rockville, MD 20852 l
Re:
Application for Transfer of Control Regarding Operating License No. NPF-57 for the Hope Creek Nuclear Generating Station (Docket No. 50-354)
Ladies and Gentlemen:
{
)
Pursuant to Section 184 of the Atomic Energy Act, as amended,10 C.F.R. 50.80, and i
NRC Administrative Letter 96-02, Atlantic City Electric Company t/a Atlantic Electric (" ACE")
l hereby submits an application for transfer of control ofits interest in the Hope Creek Operating License, No. NPF-57. The Application requests the consent of the Nuclear Regulatory Commission ("NRC") to the indirect transfer of control of ACE's possessory interest in the Hope Creek license that will occur under a proposed merger of Atlantic Energy, Inc. (the parent holding company of ACE) and Delmarva Power & Light Company, resulting in the formation of a new holding company, Conectiv, Inc. ("Conectiv"). Public Service Electric & Gas Company, the licensed operator of Hope Creek, is not involved in the merger.
The merger will achieve significant cost savings and efficiencies and create a stronger, more competitive enterprise. It is expected to generate about $500 million in net savings during the first ten years of Conectiv's operation, thereby enhancing the ACE's financial resources to possess its 5% ownership interest in Hope Creek.
In order to maximize the significant cost savings and efficiencies upon consummation of the merger, the applicant requests expeditious review of this Application by the NRC and the issuance of a 10 C.F.R. 50.80 consent. ACE believes that the NRC should be able to consent to the indirect transfer of control occasioned by the proposed merger, since the merger will have I
no adverse affect on either the technical management or operation of Hope Creek, will not If
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l 9705020030 970430 l
PDR ADOCK 05000354 P
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SHAW, PITTMAN, POTTS & TROWBRIDGE
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U.S. Nuclear Regulatory Commission April 30,1997 Page 2
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i require a specific demonstration of financial qualifications since ACE's status as an utility under 10 C.F.R. Q 50.2 will remain unchanged, and will not require any additional NRC antitrust review for the reasons stated in the Application.
1 The proposed merger requires approval ofother regulatory agencies in addition to
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consent from the NRC. The NRC Project Manager for Hope Creek will be kept informed of the j
progress made by the other regulatory agencies. The merger is expected to be completed by December 31,1997, enabling Conectiv to come into corporate existence on that date.
l Accordingly, it is requested that the NRC consent to the indirect transfer of control of the Hope l
Creek license by September 30,1997.
If you have any questions or require additional information, please contact me at the telephone number below or Paul Gaukler at (202) 663-8304.
l Very ruly y( rs,0lr
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f l
I Jo% H. O'Neill, Jr. f l
SHnW PITTMAN PO i & TROWBRIDGE I
23
) N Street, N.W.
Washington, D.C. 20037 l
(202) 663-8148 Enclosure cc (w/ encl.):
Regional Administrator, NRC Region 1 Resident Inspector, Hope Creek David H. Jaffe, Project Manager, Hope Creek l
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