PNO-III-97-048, 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.States of Wi & Mn Will Be Informed of Info in Notification

PNO-III-97-048: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.States of Wi & Mn Will Be Informed of Info in Notification

ML20141C807
Person / Time
Site:	Point Beach
Issue date:	05/19/1997
From:	Jeffrey Jacobson, Schweibinz E NRC OFFICE OF INSPECTION & ENFORCEMENT (IE REGION III)
To:
References
PNO-III-97-048, PNO-III-97-48, NUDOCS 9705190227
Download: ML20141C807 (1)

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May 19, 1997 l j

PRELIMINARY NOTIFICATION OF EVENT OR UNUSUAL OCCURRENCE PNO-III-97-048 i This preliminary notification constitutes EARLY notice'of events of POSSIBLF. ,

safety or public interest significance. The information is as initially received without verification or evaluation, and is basically all that is '

known by Region III staff (Lisle. Illinois) on this date.

4. Facility Licensee Emergency Classification  ;

t Wisconsin Electric Power Co. Notification of Unusual: Event  !

Point Beach 1 2 -Alert i

Two Rivers. Wisconsin- Site Area Emergency  ;

Dockets: 50-266.50-301' General Emergency X Not Applicable

Subject:

PROPOSED MERGER TERMINATED 4

On May 16, 1997. Wisconsin Energy Company (Wisconsis Electric Power 1 Company) and Northern States Power Company announced they were

terminating their plans for a proposed merger of the two com)anies into a new com)any. Primergy Corporation. A May 14 decision by the r ederal Energy legulatory Commission (FERC) had remanded the ccae to an FERC settlement judge for further negotiations, including the possible sale of some generating facilities and other actions. ,

The utilities attributed their decision to changing reguletery policies on mergers and to further regulatory delays as a result of the FERC decision. The proposed merger had been announced May 1. 1995.

4 The merger had previously been approved by state agencies in Michigan and  ;

. North Dakota, but decisions were still pending before the Minnesota and Wisconsin public service commissions. Other federal agency decisions were i

also pending.  ;

? t 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.

i

Contact:

EDWARD SCHWEIBINZ JOHN JACOBSON (630)829-9712 (630)829-9736

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9705190227 970519 PDR ISrE i PNO-III-97-048 PDR '

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