ML20198J044
| ML20198J044 | |
| Person / Time | |
|---|---|
| Site: | Hope Creek  |
| Issue date: | 12/18/1997 |
| From: | Collins S NRC (Affiliation Not Assigned) |
| To: | NRC COMMISSION (OCM) |
| Shared Package | |
| ML20198J049 | List: |
| References | |
| NUDOCS 9801140029 | |
| Download: ML20198J044 (6) | |
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i UNITED STATES OF AMERICA NUCLEAR REGULATORY COMISSION In the Matter of ATLANTIC CITY ELECTRIC COMPANY Docket'No. 50-354 (Hope Creek Generating Station)
ORDER APPROV!NG APPLICATION REGARDING MERGER AGREEMENT BETWEEN ATLANTIC ENERGY, INC. (PARENT OF ATLANTIC CITY ELECTRIC COMPANY)
AND DELMARVA POWER AND LIGHT. COMPANY I.
Atlantic City Electric Company (ACE) and Public Service Electric and Gas Company (PSE&G) are co-holders of Facility Operating License No. NPF-57, issued by the U.S. Nuclear Regulatory Commission (NRC or Commission) pursuant to Part 50 of Title 10 of the Code of Federal Reaulations (10 CFR Part 50) for operation of the Hope Creek Generating Station (Hope Creek). Under the
. license, PSE&G.is authorized to possess, use, and operate the facility, and ACE is authorized to possess the facility. Hope Creek is located in Salem 1
-County, New Jersey.-
9901140029 971218 PDR ADOCK.05000354 P
-t-By application filed by ACE under cover oT a letter dated April 30, 1997, from John H. O'Nelli, Jr., of Shaw, Pittman, Potts & Trowbridge, attorney for ACE, supplemented by letter dated November 7,1997, ACE requested the Commission's approval, pursuant-_to 10 CFR 50.80, of the indirect transfer of the license, to the extent held by ACE, that would result from the consummation of a merger agreement between Atlantic Energy, Inc. (parent of ACE) and Delmarva Power and Light Company (DP&L). Under the merger agreement, Atlantic Energy, Inc. and DP&L would form a new holding company, Conectiv, Inc., under which ACE and DP&L would become wholly owned subsidiaries. No direct transfer of the license would occur. PSE&G is not involved in the 1
merger.
A Notice of Consideration of Approval of Application Regarding Proposed Corporate Restructuring was published in the Federal Reaister on December 8, 1997 (62 FR 64600), and an Environmental Assessment and Finding of No Significant Impact was published in the Federal Reaister on December 8,1997 l
(62 FR 64603).
Under 10 CFR 50.80, no license shall be transferred, directly or indirectly, through transfer of control of the license, unless the Commission j-gives its consent in writirg. Upon review of the information submitted in the letter and application of April 30, 1997, and supplement dated November 7, 1997, the NRC staff has determined that the proposed merger of Atlantic Energy, Inc. and DP&L will not affect the qualifications of ACE as a holder of the license, and that the transfer of control of the license for Hope Creek, to the extent effected by the proposed merger, is otherwise l
l
f
-3 consistent with' applicable provisions of law, regulations, and orders issued by the Commission, subject to the conditions stated herein. These findings are supported by a safety evaluation dated December 18, 1997.
Accordingly, pursuant to Sections 161b, 1611, 1610, and 184 of the Atomic Energy Act of 1954, as amended, 42 USC 55 2201(b), 2201(1), 2201(o),
and 2234, and 10 CFR 50.80, IT IS HEREBY ORDERED that the Commission approves the application regarding the proposed merger of Atiratic Energy, Inc. and DP&L subject to the following conditions:
(1) ACE shall provide the Director of the Office of Nuclear Reactor Regulation a copy of any application, at the time it is filed, to transfer (excluding grants of security interests or liens) from ACE to its proposed parent or to any other affiliated company, facilities for the production, transmissien, or distribution of electric energy having a depreciated book value exceeding 10 percent (10%) of ACE's consolidated net utility plant, as recorded on ACE's books of account; and (2) should the merger of Atlantic Energy, Inc. and DP&L, as described herein, not be completed by December 31, 1998, this Order shall become null and void, provided, however, on application and for good cause shown, such date is extended.-
This Order is effective upon issuance.
1
. IV.
By January 23, 1998
, any person-adversely affected by this Order may file a request for a hearing with respect to issuance of the Order. Any person requesting a hearing shall set forth with particularity how that interest is adversely affected by this Order and shall address the criteria set forth in 10 CFR 2.714(d).
If a hearing is to be held, the Commission will issue an order designating the time and place of such hearing.
The issue to be considered at any such hearing shall be whether this Order should be sustained.
Any request for a hearing must be filed with the Secretary of the Comission, U.S. Nuclear Regulatory Comission, Washington, DC 20555-0001, Attention: Rulemakings and Adjudications Staff, or may be delivered to the Comission's Public Document Room, The Gelman Building, 2120 L Street, NW.,
Washington, DC by the above date. Copies should be also sent to the Office of the General Counsel and to the Director, Office of Nuclear Reactor Regulation, U.S. Nuclear Regulatory Comission, Washington, DC 20555-0001, and to John H.
O'Neill, Jr., Shaw, Pittman, Potts & Trowbridge, 2300 N Street, NW.,
Washington, DC, 20037, attorney for ACE.
For further details with respect to this action, see the application filed by ACE under cover of a letter dated April 30, 1997, from John H.
O'Neill, Jr., of Shaw, Pittman, Potts & Trowbridge, as supplemented by a letter dated November 7,1997, and the safety evaluation dated December 18, 1997, which are available for public inspection at the Comission's Public Document Room, The Gelman Building, 2120 L 5treet, NW., Washington, DC, and at the
. local _ public document room at-the Pennsville' Public' Library,190 South b
-Broadway, Pennsville,-NJ.
. Dated at Rockville, Maryland, this 18th day of December 1997 -
FOR THE NUCLEAR REGULATORY COPMISSION
/s/
Samuel = J. Collins, Director Office.of Nuclear Reactor Regulation-
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local public document room at the Pennsv111e Public Library,190' South Broadway, Pennsville, NJ.
Dated at Rockville, Maryland, this 18thday of December 1997.
FOR THE NUCLEAR REGULATORY COMISSION Nd.
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