ML20212E740
| ML20212E740 | |
| Person / Time | |
|---|---|
| Site: | Seabrook  |
| Issue date: | 08/21/1997 |
| From: | James Anderson NEW HAMPSHIRE, STATE OF |
| To: | Shirley Ann Jackson, The Chairman NRC COMMISSION (OCM) |
| Shared Package | |
| ML20212E722 | List: |
| References | |
| NUDOCS 9711040039 | |
| Download: ML20212E740 (2) | |
Text
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TliE STATE OF NEW HAMPSHIRE v
ASSISTANT CONSLWER ADVOCATT CON 1tHER ADVOCATE JAMES R M ANDERSON MICR4El.W HOLMES OFFICE OF Tile CONSUMER ADVOCATE l
117 MANCHESTER STREET CONCORD, NEW HAMPSHIRE 033015141 foo31271 1872
. TDD ACCESS RELAY NH IMT312964 f AKis03 til 1877 l
August 21,1997
- Honorable Shirley Jackson Chairman U.S. Nuclear Regulatory Commission Washington, DC 20555 RE: Great Bay Power Corporation Seabrook Nuclear Station
Dear Chairman Jackson:
Attorney Robert A. Backus has recently sent you two letters regarding the exemption provided by the NRC Staff to the Great Bay Power Corporation. Said exemption pertains to the requirement of the Federal Regulations that non-utility nuclear plant owners ptovide assurance of det.ommissioning funding through either prefunding, or some external source, such as a bond.
This office would like to indicate that it feels that the NRC should reconsider the exemption decision At a time when the United States electric industry is in the midst of a potentially unprecedented restructuring, and in essence transitioning from cost-based regulation to market determined pricing for generation, it is more imperative than ever that the NRC require adequate assurance of decommissioning funding from both utility and non-utility owners of nuclear plants. With regard to the Seabrook Nuclear Station, it is the understanding of this office -
that the bond ratings of two ofits owners, North Atlantic Energy Corporation and Connecticut Light & Power Company, continues to be below investment grade Both of these companies are subsidiaries of Northeast Utilities. It is a distinct possibility that electric restructuring will require that Northeast Utilities file for bankruptcy. Thus, the financial situation surrounding three of the
- significant owners of the Seabrook Nuclear Station (Great Bay Power Corporation, North Atlantic Energy Corporation, and Connecticut Light & Power Company) does not provide a great degree of comfort that there will be adequate decommissioning funding should there be an early shutdown. In addition, it appears that the decommissioning funds for both Connecticut Yankee 9711040039 971023 o
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= Honorab_le Shirley Jackson
- August 21/1997---
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and Maine Yankee are presently under funde'd due to their early retirements. This is evidence that
'in a newly structured industry, the issue of adequate assurance of decommissioning funding to
' hedge against the possibility of an early shutdown of Seabrook is of critical importance to the ratepayers of New Hampshire.
L
. Very truly yours,-
3.w, J 6'%
Ja s.-Anderson.
. As i ant Consumer Advocate
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