ML20248M286
| ML20248M286 | |
| Person / Time | |
|---|---|
| Site: | Millstone  |
| Issue date: | 06/02/1998 |
| From: | Collins S NRC (Affiliation Not Assigned) |
| To: | |
| Shared Package | |
| ML20248M280 | List: |
| References | |
| NUDOCS 9806150253 | |
| Download: ML20248M286 (4) | |
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7590-01-P UfRTED STATES OF AMERICA NUCLEAR REGULATORY COMMISSION in the Matter of
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CENTRAL MAINE POWER COMPANY
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Docket No. 50-423
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(Millstune Nuclear Power Station, Unit 3)
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ORDER APPROVING APPLICATION REGARDING THE RESTRUCTURING OF CENTRAL MAINE POWER COMPANY BY ESTABLISHMENT OF A HOLDING COMPANY 1.
Central Maine Power Company (CMP), a 2.5 percent owner of the Millstone Nuclear Power Station, Unit 3 (Millstone Unit 3), one of the 13 other owners of Millstone Unit 3, is a co-holder of Facility Operating License No. NPF-49 issued by the U.S. Nuclear Regulatory Commission (NRC) pursuant to Part 50 of Title 10 of the Code of Federal Regulations (10 CFR l
Part 50) on January 3i,1986. Under this license, Northeast Nuclear Energy Company (NNECO),
I has the exclusiv' authority to operate Millstone Unit 3. Millston. Unit 3 is located in New London e
County, Connecticut, ll.
By an application dated March 4,1998, CMP, by and through its counsel, Morgan, Lewis,
' and Bockius, requested consent pursuant to 10 CFR 50.80 regarding the proposed restructuring of CMP. Under the restructuring, CMP would become a wholly owned subsidiary of a newly created holding company but would continue to hold its 2.5 percent ownership interest in Millstone Unit 3. No direct transfer of the license would occur. NNECO, which is not involved in
~ he proposed transaction, would continue to be the licensed operator for Millstone Unit 3. The t
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2 holders of CMP common stock would automatically become holders of common stock of the new holding company on a share-for-share basis, according to the application.
Notice of this application fu consent was published in the FEDERAL REGISTER on I
April 24,1998 (63 FR 20434); and an Environmental Assessment and Finding of No Significant Impact was published in the FEDERAL REGISTER on May 4,1998 (63 FR 24576).
I 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 review of the infom1ation submitted in the application dated March 4,19L8, the NRC staff has determined that the proposed restructuring of CMP by creation of a holding company will not affect the qualifications of CMP as a holder of Fac!!ity Operating License No. NPF-49, and that the transfer of control of the license, to the extent effected by the proposed restructuring, 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 dated June 2
,1998.
Ill.
Accordingly, pursuant to Sections 161b,1611,161o, and 184 of the Atomic Energy Act of 1954, as amended; 42 U.S.C. Subsections 2201(b),2201(i),2201(o), and 2234; ano 10 CFR 50.80,. IT IS HEREBY ORDERED that the Commission approves the application regarding the proposed restnJcturing of CMP subject to the following: (1) CMP 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 CMP to its proposed parent or to any other affiliated company, facilities for the production, transmission, or distribution of electric energy having a depreciated book value exceeding 10 percent (10%) of CMP'.s consolidated net utility plant, as recorded on CMP's books of account; and (2) should the restructuring of CMP not be
. completed by December 31,1998, this Order shall become null and void, provided, however, on application end for good cause shown, such date may be extended.
This Order is effective upon issuance.
IV.
By July 13th
,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 OFR 2.714(d).
If a hearing is to be held, the Commission willissue 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.
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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 Adjudications Staff, or may be delivered to the Commission's Public Document Room, The Gelman Building,2120 L Street, NW., Washington, DC by the aoove 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 Regu'atory Commission, Washington, DC 20555-0001; Lillian M.
Cuoco, Esq., Northeast Utilities Service Company, P.O. Box 270, Hartford, Connecticut, 06106-5127, Senior Nuclear Counsel to NNECO; and to Kevin P. Gallen, Esq., Morgan, Lewis, and Bocklus,1800 M Street, NW., Washington, DC 20036-5869, Counsel for CMP.
For further details with respect to this action, see the application for approval regarding Cle corporate restructuring dated March 4,1998, the NRC staff's Safety Evaluation dated
,1998, and Environmental Assessment and Finding of No Significant impact dated April 24,1998, which are available for public inspection at the Commission's Public Document Room, The h__-
4 Gelman Building,2120 L Street, NW., Washington, DC, and at the local public document room located at the Leaming Resources Center, Thim. nivers 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 2nd day of June 1998.
FOR THE NUCLEAR REGULATORY COMMISSION r
Office of Nuclear Reactor Regulation
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