PNO-I-97-020, on 970407,Allegheny Power Sys Inc & Dqe Inc, Parent Co of Duquesne Light Co,Announced Billion Dollar Agreement to Merge Companies.Merger Unanimously Approved by Both Companies Boards of Directors

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PNO-I-97-020:on 970407,Allegheny Power Sys Inc & Dqe Inc, Parent Co of Duquesne Light Co,Announced Billion Dollar Agreement to Merge Companies.Merger Unanimously Approved by Both Companies Boards of Directors
ML20137L755
Person / Time
Site: Beaver Valley
Issue date: 04/07/1997
From: Eselgroth P, David Kern
NRC OFFICE OF INSPECTION & ENFORCEMENT (IE REGION I)
To:
References
PNO-I-97-020, PNO-I-97-20, NUDOCS 9704070302
Download: ML20137L755 (1)


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&4 April 7, 1997 j PRELIMINARY NOTIFICATION OF EVENT OR UNUSUAL OCCURRENCE PNO-I-97-020 This preliminary notification constitutes EARLY notice of events of POSSIBLE cafety or public interest significance. The information is as initially l received without verification or evaluation, and is basically all that is  ;

known by Region I staff in King of Prussia, Pennsylvania on this date.

Facilit.y Licensee Emercency Classification !

Duquesne Light Co. Notification of Unusual Event I Beaver Valley 1 2 Alert Shippingport, Pennsylvania Site Area Emergency a Dockets: 50-334,50-412 General Emergency X Not Applicable

Subject:

DUQUESENE LIGHT COMPANY ANNOUNCES MERGER WITH ALLEGHENY POWER On April 7, 1997, Allegheny Power System Incorpora'ced and DQE Inc. ,

parent ccmpany of Duquesne Light Company, announced a 10.6 billion dollar agreement to merge the two companies. The new company, Allegheny Energy, will have approximately 8600 employees and generating capacity of 11,000 l megawatts. Allegheny Energy's generation assets will primarily be coal fired stations. As part owner of Beaver Valley 1 and 2 and Perry Nuclear generating stations, nuclear power will account for approximately 6 percent (662 megawatts) of total generation capacity for the new company. I The merger has been unanimously approved by both companies' boards of directors. Shareholder and regulatory approval are scheduled within the next 12 to 18 months. Alan J. Noia, President and Chief Executive Officer (CEO) of Allegheny Power will be the Chairman and CEO of Allegheny Energy. David D. Marshall, President and CEO of DQE will become the President and Chief Operating Officer of Allegheny Energy.

The contents of th:.a PN have been communicated to the Maryland, New York, Pennsylvania, Ohio and West Virginia state governments.

The resident inspectors were informed of the merger announcement and observed related employee information briefings on-site on April 7, 1997. l

Contact:

Peter W. Eselgroth David M. Kern (610)337-5234 (412)643-2000 nL 9704070302 970407 9,

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