ML20203A383
| ML20203A383 | |
| Person / Time | |
|---|---|
| Site: | Pilgrim |
| Issue date: | 02/11/1998 |
| From: | Collins S NRC (Affiliation Not Assigned) |
| To: | BOSTON EDISON CO., NRC OFFICE OF THE GENERAL COUNSEL (OGC) |
| Shared Package | |
| ML20203A389 | List: |
| References | |
| NUDOCS 9802240025 | |
| Download: ML20203A383 (4) | |
Text
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9 7590-01-P
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l UNITED STATES OF AMERICA NUCl FAR REGUI.ATORY COMMISSION in the Matter of
)
)
BOSTON EDISON COMPANY
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Docket No. 50-293
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(Pilgrim Nuclear Power Station)
)
ORDER APPROVING APPLICATION REGARDING THE CORPORATE RESTRUCTURING OF BOSTON EDISON COMPANY BY ESTABLISHMENT OF A HOLDING COMPANY 1.
Boston Edison Company (BECo) is sole owner of the Pilgrim Nuclear Power Station -
(Pilgrim). BECo holds Facility Operating License No. DPR-35 issued by the U.S. Atomic Energy Commission pur uant to Part 50 of Title 10 of the Code of Federal Reaulations (10 CFR. Part 50) on June 8,1972. Under this license, BECo has the authority to own and operate Pilgrim. Pilgrim is located in Plymouth County, Massachusetts.
II.
By an application dated June.9,1997, BECo requested that the Commission approve under 10 CFR 50.80 the transfer of control of the license that would result from a proposed corporate restructuring of BECo. Under the restructuring, a holding company under the name
'BEC Energy" will be created of which BECo would become a wholly owned subsidiary. The holders of BECo common stock would automatically become holders of common stock of the 9802240025 980211
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PDR ADOCK 05000293 P
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new parent company on a share-for share basis, according to the application. Notice of this k
application for consent was published in the FEDERAL REGISTER on December 12,1997 (62 4
FR 65448); and an Environmental Assessment and a Finding of No Significant impact was published in the FEDERAL REGISTER on December 15,1997 (62 FR 65716).
Under 10 CFR 50.80, no license shall be transferred, directly or indirectly, through transfer of control of the license unless the Commission shall give its consent in writing. Upon i
review of the information submitted in the application dated June 9,'1997, the staff of the U.S.
i Nuclear Regulatory Commission has determined that the proposed restructuring of BECo will not affect the qualifications of BECo as holder of the license for Pilgrim and that the transfer of control of the license, to the extent effected by the restructuring of BECo, is otherwise consistent with applicable provisions of law, regulations, and orders issued by the Commission, subject to the conditions set forth herein. These findings are supported by a safety evaluation i
j dated February 11,1998.
Ill.
Accordingly, pursuant to Sections 161b,1611,161o, and 164 of the Atomic Energy Act of r
1954, as amended; 42 USC $$ 2201(b),2201(i),2201(o), and 2234; and 10 CFR 50.80, IT IS i
HEREBY ORDERED that the Commission approves the application regarding the proposed j
restructuring of BEco subject to the following: (1) BECo shall provide the Director of the Office of Nuclear Reactor Regulation a copy of any application, at the tirr.a it is filed, to transfer i
(excluding grants of security interests or liens) from BECo to its proposed parent or to any other j
affiliated company, facilities for the production, transmission, or distribution of electric energy i
having a depreciated book value exceeding 10 percent (10%) of BECo's consolidated not utility plant, as recorded on BECo's books of account, and (2) should the restructuring of i
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3 BECo not be completed by December 31,1998, this Order shall become null and void, 4
provided, however, on application and for good cause shown, such date may be extended.
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This Order is effective upon issuance.
i IV.
d By March 19
,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 i
. 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 I.
place of such hearing.
The issue to be considered at any such hearing shall be whether this Order should be sustained.
l Any request for a hearing must be filed with the Secretary of the Commission, U.S.
Nuclear Regulatory Commission, Washington, DC 20555-0001, Attention: Rulemakings and i
Adjudications Staff, or may be delivered to the Commission's Public Document Room, The Gelman Building,2120 L Street, NW., Washington, D.C. by the above date. Copies should be f
also sent to the Office of the General Counsel and to the Director, Office of Nuclear Reactor Regulation, U.S. Nuclear Regulatory Commission, Washington, DC 20555-0001, and to William S. Stowe, Esq., Boston Edison Company,800 Boylston Street, Boston, MA 02199, Assistant 4
General Counsel for BECo.
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For further details with respect to this action, see the application for approval regarding the corporate restructuring dated June 9,1997, and the safety evaluation dated - Fe b ru a ry 11, 1998, which are available for public inspection at the Commission's Public Document Room, The Gelman Building,2120 L Street, NW., Washington, DC, and at the local public document i
room located at the Plymouth Public Library,11 North Street, Plymouth, Massachusetts.
Dated at Rockville, Maryland, this 11th ay of Februa ry 1998.
d 1
FOR THE NUCLEAR REGULATORY COMMISSION Orig!nalsignedby St.muelJ.Colrins i
Samuel J, Collins, Director Office of Nuclear Reactor Regulation DOCUMENT NAME: G:\\ PILGRIM \\beco.0RD
- PREVIOUS CONCURRENCE To receive a copy of this document, indicate in the box:
"C" - Copy without 4
attachment / enclosure "E" - Copy with attachment / enclosure "N" - No copy 0FFICE PDI-3/PM*
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