ML20217D279

Notice of Consideration of Issuance of Order Re Restructuring of Central Maine Power Co.Nrc Considering Issuance of Order Approving Application Re Proposed Corporate Restructuring

ML20217D279
Person / Time
Site:	Millstone
Issue date:	04/20/1998
From:	Mckee P NRC (Affiliation Not Assigned)
To:
Shared Package
ML20217D257	List: ML20217D252 ML20217D279
References
NUDOCS 9804240258
Download: ML20217D279 (2)

Text

,

7590-01-P l

UNITED STATES NUCLEAR REGULATORY COMMISSION I CENTRAL MAINE POWER COMPANY DOCKET NO. 50-423 i i

MILLSTONE NUCLEAR POWER STATION. UNIT 3 l NOTICE OF CONSIDERATION OF ISSUANCE OF AN ORDER REGARDING RESTRUCTURING OF CENTRAL MAINE POWER COMPANY Notice is hereby given that the U.S. Nuclear Regulatory Commission (the Commission) is considering the issuance of an Order approving, under Title 10 of the Code of Federal Reaulations (10 CFR ) Section 50.80, an application regarding the proposed corporate restructuring of Central Maine Power Company (CMP), which holds a partial ownership interest in Millstone Nuclear Power Station, Unit 3. By application dated March 4,1998, CMP, by and through its counsel, Morgan, Lewis, and Bocklus, informed the Commission that it is proposing to become a wholly owned subsidiary of a newly created holding company, HoldCo, which will be renamed later. Northeast Nuclear Energy Company will remain the licensed operator of Millstone Unit 3 and is not involved in the transaction. No direct transfer of the license or any interest therein will occur. Under the restructuring, the holders of CMP common stock will become the holders of the common stock of the holding company. After the restructuring, CMP will continue to be a public utility providing the same utility services as it did immediately prior to the restructuring, and will continue to be an " electric utility" under Commission regulations.

According to the application, there will be no effect on the management, or sources of funds for operation, maintenance, or decommissioning, of Millstone Unit 3 as a result of the corporate 4 res'.ructuring.

Pursuant to 10 CFR 50.80, the Commission may approve the transfer of control of a license after notice to interested persons. Such approvalis contingent upon the Commission's 9804240258 980420 PDR ADOCK 05000423 P PDR

a t

2 i 1

determination that the holder of the license following the transfer is qualified to hold the license l and that the transfer is otherwise consistent with applicable provisions of law, regulations, and orders of the Commission.

For further details with respect to this proposed action, see the application dated March 4, i 1998. This document is 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 I document room located at the Learning Resources Center, Three Rivers Community-Technical College,574 New London Tumpike, Norwich, Connecticut, and at the Waterford Library, ATTN:

Vince Juliano,49 Rope Ferry Road, Waterford, Connecticut.

Dated at Rockville, Maryland, this 20th day of April 1998.

FOR THE NUCLEAR REGULATORY COMMISSION t

j "{

l u  %

i Phillip F. cKee Deputy Director for Licensing Special Projects Office Office of Nuclear Reactor Regulation j l

l l

t