PNO-III-97-046, on 970516,WI Energy Co & Northern States Power Co Announced They Were Terminating Plans for Proposed Merger of Two Companies Into New Co,Primergy Corp.Utils Attributed Decision to Changing Regulatory Policies
| ML20141C821 | |
| Person / Time | |
|---|---|
| Site: | Monticello  |
| Issue date: | 05/16/1997 |
| From: | Jeffrey Jacobson, Schweibinz E NRC OFFICE OF INSPECTION & ENFORCEMENT (IE REGION III) |
| To: | |
| References | |
| PNO-III-97-046, PNO-III-97-46, NUDOCS 9705190231 | |
| Download: ML20141C821 (1) | |
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7 i May 19, 1997 PRELIMINARY NOTIFICATION OF EVENT OR UNUSUAL OCCURRENCE PNO-III-97-046 This preliminary notification constitutes EARLY notice of events of POSSIBLE safety or public interest significance. The information is as initially received without verification or evaluation, and is basically all that is known by Regicn III staff (Lisle, Illinois) on this date.
Facility Licensee Emergency Classification Northern States Power Co.
Notification of Unusual Event Monticello 1 Alert
-Monticello, Minnesota Site Area Emergency Dockets: 50-263 General Emergency X Not Applicable
~
Subject:
PROPOSED MERGER TERMINATED t
On May 16. 1997, Wisconsin Energy Company (Wisconsin Electric Power Company) and Northern States Power Company announced they were terminating their plans for a proposed merger of the two companies into a new com]any. Primergy Corporation. A May 14 decision by the Federal Energy legulatory Commission (FERC) had remanded the case to an FERC settlement judge for further negotiations, including the possible sale of some generating facilities and other actions 4
The utilities attributed their decision to changing regulatory Jolicies on mergers and to further regulatory @ lays as a result of the ;ERC 4
. decision. The proposed merger had been announced May 1, 1995.
i The merger had previously been approved by state agencies in Michigan and l
North Dakota, but decisions were still pending before the Minnesota and Wisconsin public service commissions. Other federal agency decisions were also pending.
The States of Wisconsin and Minnesota will be informed of the information in this preliminary notification.
^
The two utilities issued news releases on their decision on May 16, 1997.
This information is current as of 9 a.m. on May 19, 1997.
Contact:
EDWARD SCHWEIBINZ JOHN JACOBSON (630)829 9712 (630)829-9736
/7 9705190231 970516 NO-I 97-046 PDR
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