ML20206F123
| ML20206F123 | |
| Person / Time | |
|---|---|
| Site: | Peach Bottom, Salem, Hope Creek, 05000000 |
| Issue date: | 04/09/1987 |
| From: | Muller D Office of Nuclear Reactor Regulation |
| To: | Atlantic City Electric Co, Delmarva Power & Light Co, Philadelphia Electric Co, Public Service Electric & Gas Co |
| Shared Package | |
| ML20206F126 | List: |
| References | |
| NUDOCS 8704140135 | |
| Download: ML20206F123 (4) | |
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7590-01 UNITED STATES NUCLEAR REGULATORY COMMISSION PHILADELPHIA ELECTRIC COMPANY PUBLIC SERVICE ELEGIRIC AND GA5 COMPANY DELMARVA POWER AND LIGHT COMPANY ATLANTIC CITY ELEGIRIC COMPANY DOCKETS NOS. 50-272, 50-277,59-278, 50-311, AND 50-354 ENVIRONMENTAL ASSESSMENT AND FINDING OF NO SIGNIFICANT IMPACT The United States Nuclear Regulatory Commission (Commission) is considering approval under 10 CFR 50.80 of the corporate reorganization of Atlantic City Electric Company (ACEC), one of the co-owners and co-licensees for the Peach Bottom Atomic Power Station, Units 2 and 3, the Salem Nuclear Generating Station, Units 1 and 2, and the Hope Creek Generating Station, Unit 1.
ENVIRONMENTAL ASSESSMENT Identification of Proposed Action:
By letters dated December 18, 1986, ACEC advised the Commission that ACEC's Board of Directors authorized the formation under the laws of the State of New Jersey of a holding company, Atlantic Energy, Inc., to hold all of the voting stock of ACEC.
ACEC would become a generating subsidiary of the holding company and would remain as the co-holder of the licenses for Peach Bottom, Salem and Hope Creek.
In each of the relevant licenses, ACEC is ' authorized to possess but not to operate the facility; in each case facility operation is 8704140135 870409 PDR ADOCK 05000272 P
PDR carried out by another NRC licensee.
Pursuant to the proposed reorganization, Atlantic Energy, Inc., would become the sole holder of ACEC's common stock and l
the current holders of ACEC's common stock would become holders of shares of the common stock of Atlantic Energy, Inc., on a share-for-share-basis.
Pursuant to 10 CFR 50.80 the Commission may approve the transfer of control of a license, after notice to interested persons, upon the Commission's determination that the holder of the license following the transfer of control is qualified to have the control of the license and the transfer of the control is otherwise consistent with applicable provisions of law, regulations and orders of the Commission.
Notice of the proposed action was published in the Federal Register on March 5, 1987 (52 FR 6895).
The Need for the Proposed Action:
ACEC stated that the purpose of the restructuring is to permit diversification on a limited basis into non-utility activities.
The goal of such diversification is to enhance the financial strength and operating results of the entire system.
ACEC contemplates that the holding company's diversification may initially be into energy-related activities such as cogeneration and other alternate energy forms.
ACEC also indicated that the new structure will insulate its utility ratepayers from the risks associated with ventures of non-utility subsidiaries of the holding company and will enable utility managers to focus on utility operations.
Environmental Impact of the Proposed Action ACEC is authorized to own but not to operate Peach Bottom Units 2 and 3, Salem Units 1 and 2, and Hope Creek Unit 1.
The corporate reorganization of ACEC will not affect the management or operation of the facilities and will not reduce the funds available for the operators of these facilities to carry out activities required by the Operating Licenses (e.g., the environmental protectionprograms). On this basis, the Commission concludes that there are no significant radiological or nonradiological impacts associated with the proposed action.
Alternative Use of Resources:
This action involves no use of resources not previously considered in the Final Environmental Statement (construction permit and operating license) for the Peach Bottom Atomic Power Station, Units 2 and 3, the Salem Nuclear Generating Station, Units 1 and 2, and the Hope Creek Generating Station, Unit 1.
Agencies and Persons Consulted:
The NRC staff reviewed the licensee's request in consultation with the New Jersey Board of Public Utilities (who approved the corporate reorganization on '
January 5,1987) and the Federal Energy Regulatory Commission.
FINDING OF NO SIGNIFICANT IMPACT The Commission has determined not to prepare an environmental impact statement for the proposed action.
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Based upon the foregoing environmental assessment, we conclude that the proposed action will not have a significant effect on the quality of the human environment.
Dated at Bethesda, Maryland this 9th day of April 1987.
FOR THE NUCLEAR REGULATORY COPMISSION Af4 V
Daniel R. Muller, Director BWRProjectDirectorate#2 Division of BWR Licensing
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