View source for PNO-III-97-047, 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.Two Utils Issued News Releases on Decision

{{Adams
| number = ML20141C831
| issue date = 05/19/1997
| title = PNO-III-97-047: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.Two Utils Issued News Releases on Decision
| author name = Jacobson J, Schweibinz E
| author affiliation = NRC OFFICE OF INSPECTION &amp; ENFORCEMENT (IE REGION III)
| addressee name = 
| addressee affiliation = 
| docket = 05000282, 05000306
| license number = 
| contact person = 
| document report number = PNO-III-97-047, PNO-III-97-47, NUDOCS 9705190235
| document type = PRELIMINARY NOTIFICATION OF EVENT OR OCCURRENCE (PNO,, TEXT-INSPECTION &amp; AUDIT &amp; I&amp;E CIRCULARS
| page count = 1
}}
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           *,       ..                                                                                            j i                   lMay19.1997 PRELIMINARY NOTIFICATION OF EVENT OR UNUSUAL OCCURRENCE PNO-III-97-047 l
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This preliminary notification constitutes EARLY notice of events of POSSIBLE                       i safety or public interest significance. The information is as initially                             i received without s.erification or evaluation, and is basically all that is                          l known by Region III staff (Lisle. Illinois) on this date.                                           l l            Facility                                           Licensee Emergency Classification 3
Northern States Power Co.                            Notification of Unusual Event
             -Prairie Islar.d-1 2                                   Alert                                          l Welch. Minnesota                                      Site Area Emergency   ,                      , '
Dockets: 50-282.50-306                               General Emergency X Not Applicable
]             

==Subject:==
PROPOSED MERGER TERMINATED 1
On May 16. 1997. Wisconsin Energy Company (Wisconsin Electric Power-Company) and Northern States Power Company announced they were terainating their plans for a proposed merger of the two com)anies into a new com)any. Primergy Corporation. A May 14 decision by the rederal Energy Regulatory Commission (FERC) had remanded the cace to an FERC 1
settlement judge for further negotiations, including Lne possible sale of some generating facilities and other actions.                                                        ,
,             The utilities attributed their decision to changing regulatory Jolicies on mergers and to further regulatory delays as a result of the ERC                                   i decision. The proposed merger had been announced May 1. 1995.
The merger had previously been approved by state agencies in Michigan and                            1 North Dakota, but decisions were still pending before the Minnesota and                              ,
l Wisconsin public service commissions. Other federal agency decisions were also pending.
The States of Wisconsin and Minnesota will be informed of the information i
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                        ,
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9705190235 970519                                                                           (, ) ' g
                -I     97-047 PDR    ,                                                                 f           i 19004L
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