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| {{#Wiki_filter:~~UNITED STATES OF AMERXCA NUCLEAR REGULATORY COMMISSION In the matter of ARIZONA PUBLIC SERVXCE COMPANY, et al., (Palo Verde Nuclear Generating Station, Unit 2)X DOCKET NO.STN 50-529 SUPPLEMENTAL APPLICATXON IN RESPECT OF SALE AND LEASEBACK TRANSACTIONS BY EL PASO ELECTRIC COMPANY October 15, 1986 8610270067 861016 PDR ADOCK 05000529,. | | {{#Wiki_filter:~ |
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| UNITED STATES OF AMEIHCA NUCLEAR REGULATORY COMMISSION X.Xn the matter of ARIZONA PUBLIC SERVXCE COMPANY, et al., (Palo Verde Nuclear Generating Station, Unit 2)X DOCKET NO.STN 50-529 SUPPLEMENTAL APPLICATXON XN RESPECT OF SALE AND LEASEBACK TRANSACTIONS BY EL PASO ELECTRIC COMPANY Arizona Public Service Company (APS), as Project Manager and Operating Agent of Palo Verde Nuclear Generating Station (PVNGS)Units 1, 2 and 3, submits this Supplemental Application in Respect of Sale and Leaseback Transactions by El Paso Electric Company, with.respect to PVNGS Unit 2 (Unit 2), on behalf of El Paso Electric Company (El Paso), a licensee under Facility Operating License No.NPF-51'(the Unit 2 License).Background (i)The Unit 2 Application.
| | UNITED STATES OF AMERXCA NUCLEAR REGULATORY COMMISSION In the matter of ARIZONA PUBLIC SERVXCE COMPANY, et al., |
| On April 15, 1986, APS filed in Docket STH 50-529, on behalf of El Paso, an Application in Respect 1 of Sale and Leaseback Transactions by El Paso Electric Company.Such application was supplemented by subsequent submissions dated June 3, I N e~gc k July 30, August,7, August 8 and August 13, 1986 (such Application, as so supplemented, is hereinafter referred to as the Unit 2 Application)
| | DOCKET NO. STN 50-529 (Palo Verde Nuclear Generating Station, Unit 2) |
| .On August 15, 1986, the Commission issued Amendment No.3 to the Unit 2 License (Amendment No.3).The Staff's related evaluation of Amendment No.3 is contained in a Safety Evaluation dated August 15, 1986.On August 18, 1986 and August 22, 1986, as permitted by Amendment No.3, El Paso sold and leased back, in the aggregate, an 11.6%(approximate) undivided ownership interest in Unit 2 and a 3.87: (approximate) undivided ownership interest in cer-tain related PVNGS common facilities, in addition to certain PVNGS real property interests (such transactions being referred to herein as the August 1986 Sale and Leaseback Transactions).(ii)Remaining Unit 2 Ownership Interests.
| | X SUPPLEMENTAL APPLICATXON IN RESPECT OF SALE AND LEASEBACK TRANSACTIONS BY EL PASO ELECTRIC COMPANY October 15, 1986 8610270067 861016 PDR ADOCK 05000529,. |
| E l P a s o proposes to enter into additional sale and leaseback financing trans-actions relating to all or a portion of El Paso's remaining 4.2: (approximate) undivided ownership interest in Unit 2 and up to 1.4: (approximate) undivided ownership interest in certain related PVNGS common facilities, in addition to certain real property interests (all of such interests being herein collectively called the Remaining Unit 2 Interest).The estimated fair market value of the Remaining Unit 2 Interest is approximately
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| $181 million.
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| I v 1.Relief Requested The relief requested by, this Supplemental Application is the issuance of a further amendment to the Unit 2 License, in sub-stantially the form of Amendment No.3, so as to permit additional sale and leaseback transactions relating to all or a portion of the Remaining Unit 2 Interest.2.Description of, the Proposed Transactions The additional sale and leaseback transactions with respect to the Remaining Unit 2 Interest are expected to'e consummated sub-stantially on the basis of documentation executed in connection with the August 1986 Sale and Leaseback Transactions, modified, however, to incorporate terms relating to the Financial Support Facilities referred to below.Subject to such modifications, the structure of any such further sale and leaseback transactions will be substan-tially similar to that of the August 1986 Sale and Leaseback Transactions (as previously described in the Unit 2 Application), although the terms of various transaction and financing documents, as finally negotiated and executed, may not necessarily be the same as for the August 1986 Sale and Leaseback Transactions.
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| Additionally, such further sale and leaseback transactions may include financial support for the benefit of the Equity Investors for the term of the leases in an amount equal to their respective investments in such transactions, as such investments change over time.Such financial support could take the form of bank letters of credit, financial guarantees, cash escrow accounts and/or other o~
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| financial support facilities (hereafter collectively referred to as the Financial Support Facilities).
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| Although Financial Support Facilities would provide the Equity Investors with added protection in respect of their invest-ments, the inclusion of such Financial Support Facilities in any sale and leaseback transactions with respect to the Remaining Unit 2 Interest would not involve the creation of any security interests in, or liens on, any part of PVNGS.In any event,.neither (a)any differences between the terms'of transaction and financing documents executed in connection with sale and leaseback transactions relating to the Remaining Unit 2 Interest, and the terms of transaction and financing documents exe-cuted in connection with the.August 1986 Sale and Leaseback Transactions, nor (b)the inclusion of Financial Support Facilities in sale and leaseback transactions relating to the Remaining Unit 2 Interest will alter.the representations and conditions material to the Commission's action on the Unit 2 Application and this Supplemental Application, including, specifically, the acknowledgment by the Lessors and the Equity Investors that before taking possession of any part of PVNGS, they will be subject to applicable requirements concerning (i)=the issuance of a license by the Commission authoriz-ing such possession or (ii)the transfer of the Commission license authorizing El Paso to possess an interest in PVNGS upon application for transfer of such license filed pursuant to applicable law.
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| ~E It I i 3.Schedule In the event that the Financial Support Facilities referred to in Section 2 of this Application are not incorporated in further sale and leaseback transactions relating to the Remaining Unit 2 Interest, the only regulatory or other approvals necessary to consum-mate such transactions, other than clearance of the public offering of the lease obligation bonds under Federal and state securities laws, approvals of the parties to such transactions and approvals already obtained, are: (i)The determination by the ANPP Administrative Committee required by Section 15.6 of the ANPP Participation Agreement; and (ii)The amendment to the Unit 2 License requested in this Supplemental Application.
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| In the event that Financial Support Facilities are incorpo-rated in such sale and leaseback transactions, regulatory approvals in addition to those approvals referred to in the preceding paragraph will be required in order to consummate such transactions.
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| Specifically, such additional regulatory approvals are orders from the New Mexico Public Service Commission (NMPSC)and the Federal Energy Regulatory Commission (FL'RC)authorizing the transactions pertaining to the use of Financial Support Facilities.
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| The ANPP Administrative Committee is expected to act in due course, either at a regularly convened meeting or a meeting convened specifically for that purpose.Both the NMPSC and FERC are expected to act, if so required, by mid November 1986.The timing of the amendment to the Unit 2 License requested by this Supplemental Application is, therefore, the primary scheduling consideration.
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| If El Paso is successful in negotiating commitments from Equity Investors, it is desirable that El Paso be in a position to consummate the proposed sale and leaseback transactions with respect to the Remaining Unit 2 Interest as soon as possible after securing such commitments.
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| Although tax considerations make it advantageous to close transactions by the end of the year, El Paso would like to have the flexibility to consummate transactions in 1987.To complete the sale and leaseback transactions in an orderly and timely manner, and toprovide El Paso with some discretion in the timing of such transactions, it is desirable that: (a)notice of receipt of this Supplemental Application and a proposed no significant hazards determination be pub-lished in the Federal Register as soon as practicable;(b)El Paso notify the Commission as soon as possible of the date (the Closing Date)on which El Paso proposes to consummate a sale and leaseback transaction; provided that such Closing Date shall not occur prior to (i)the t
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| ninth (9th)day following the date on which El Paso so notifies the Commission, or (ii)the seventh (7th)day following the expiration of the comment period specified in the Federal Register notice, whichever is later;(c)'the requested amendment to the Unit 2 License be issued and become ef fective not later than two (2)business days prior to the proposed Closing Date;and (d)the requested amendment be made effective for sale and leaseback transactions having Closing Dates during a period of six months after the date hereof or such other period as the Commission deems appropriate.
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| 4.Supporting Information V With respect to particular Equity Investors, the undertak-ing of El Paso to submit publicly available financial and other information will continue to apply to newly identified Equity Investors.
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| El Paso will endeavor to supply the Commission with that information as soon as it is known, but in any event not later than nine (9)days prior to the proposed Closing Date.Copies of the most recent interim financial statements and reports on Form 10-Q for El Paso and Bank of Boston Corporation (parent corporation of The First National Bank of Boston, the Owner Trustee)will be provided to the Commission at or prior to the time f I 1" 4 that supporting information concerning Equity Investors is provided pursuant to the preceding paragraph.
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| 5.Basis for Relief Requested As set forth above in Section 2, the proposed transactions described in this Supplemental Application will be similar to the August 1986.Sale and Leaseback Transactions previously consummated by El Paso in all respects material to the Commission's action.In addition, the relief requested in this Supplemental Application by.APS, on behalf of El Paso, is the same relief (based upon similar facts)as was previously granted by the'ommission in respect of the Unit 2 Application.'t is respectfully submitted that the Staff's action in response to this Supplemental Application should be'gov-erned by the Commission's response to the Unit 2 Application.
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| i, 1'f II WHEREFORE, APS requests on behalf of El Paso that the Commission grant the relief requested in Section 1 hereof or in sue/other form and/or subject to such conditions in addition 1 to those stated in such Section as the Commission may deem appropriate.
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| Respectfully submitted, ARIZONA PUBLIC SERVICE COMPANY By Edwin E.Van Brunt, Jr.Executive Vice President-ANPP Dated: October 15, 1986 h%~9'0 4L tk'h'4*Pl, 1'V'1 (AC V'0/P'a 4 VT"'ll
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| STATE OF ARIZONA t County of Maricopa'))ss.)I, Edwin E.Van Brunt, Jr., represent that I am the Executive Vice President-ANPP, that the foregoing document has been signed by me on behalf of Arizona Public Service Company with full authority to do so, that I have read such document and know its contents, and that to the best of my knowledge and belief, the statements made therein are true.Edwin E.Van Brunt, Jr'worn before me this 15th day of October, 1986.Notary Public My Commission Expires:;'t" Cornr;ission Expires pci i 1989 Lfv
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| | UNITED STATES OF AMEIHCA NUCLEAR REGULATORY COMMISSION X. |
| | Xn the matter of ARIZONA PUBLIC SERVXCE COMPANY, et al., |
| | DOCKET NO. STN 50-529 (Palo Verde Nuclear Generating Station, Unit 2) |
| | X SUPPLEMENTAL APPLICATXON XN RESPECT OF SALE AND LEASEBACK TRANSACTIONS BY EL PASO ELECTRIC COMPANY Arizona Public Service Company (APS), as Project Manager and Operating Agent of Palo Verde Nuclear Generating Station (PVNGS) |
| | Units 1, 2 and 3, submits this Supplemental Application in Respect of Sale and Leaseback Transactions by El Paso Electric Company, with . |
| | respect to PVNGS Unit 2 (Unit 2), on behalf of El Paso Electric Company (El Paso), a licensee under Facility Operating License No. NPF-51 '(the Unit 2 License). |
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| | ===Background=== |
| | (i) The Unit 2 Application. On April 15, 1986, APS filed in Docket STH 50-529, on behalf of El Paso, an Application in Respect 1 |
| | of Sale and Leaseback Transactions by El Paso Electric Company. Such application was supplemented by subsequent submissions dated June 3, I |
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| | July 30, August,7, August 8 and August 13, 1986 (such Application, as so supplemented, is hereinafter referred to as the Unit 2 Application) . On August 15, 1986, the Commission issued Amendment No. 3 to the Unit 2 License (Amendment No. 3) . The Staff's related evaluation of Amendment No. 3 is contained in a Safety Evaluation dated August 15, 1986. On August 18, 1986 and August 22, 1986, as permitted by Amendment No. 3, El Paso sold and leased back, in the aggregate, an 11.6% (approximate) undivided ownership interest in Unit 2 and a 3.87: (approximate) undivided ownership interest in cer-tain related PVNGS common facilities, in addition to certain PVNGS real property interests (such transactions being referred to herein as the August 1986 Sale and Leaseback Transactions). |
| | (ii) Remaining Unit 2 Ownership Interests. E l P a s o proposes to enter into additional sale and leaseback financing trans-actions relating to all or a portion of El Paso's remaining 4.2: |
| | (approximate) undivided ownership interest in Unit 2 and up to 1.4: |
| | (approximate) undivided ownership interest in certain related PVNGS common facilities, in addition to certain real property interests (all of such interests being herein collectively called the Remaining Unit 2 Interest) . The estimated fair market value of the Remaining Unit 2 Interest is approximately $ 181 million. |
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| | : 1. Relief Requested The relief requested by, this Supplemental Application is the issuance of a further amendment to the Unit 2 License, in sub-stantially the form of Amendment No. 3, so as to permit additional sale and leaseback transactions relating to all or a portion of the Remaining Unit 2 Interest. |
| | : 2. Description of, the Proposed Transactions The additional sale and leaseback transactions with respect to the Remaining Unit 2 Interest are expected to'e consummated sub-stantially on the basis of documentation executed in connection with the August 1986 Sale and Leaseback Transactions, modified, however, to incorporate terms relating to the Financial Support Facilities referred to below. Subject to such modifications, the structure of any such further sale and leaseback transactions will be substan-tially similar to that of the August 1986 Sale and Leaseback Transactions (as previously described in the Unit 2 Application), |
| | although the terms of various transaction and financing documents, as finally negotiated and executed, may not necessarily be the same as for the August 1986 Sale and Leaseback Transactions. |
| | Additionally, such further sale and leaseback transactions may include financial support for the benefit of the Equity Investors for the term of the leases in an amount equal to their respective investments in such transactions, as such investments change over time. Such financial support could take the form of bank letters of credit, financial guarantees, cash escrow accounts and/or other |
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| | o~ |
| | financial support facilities (hereafter collectively referred to as the Financial Support Facilities). |
| | Although Financial Support Facilities would provide the Equity Investors with added protection in respect of their invest-ments, the inclusion of such Financial Support Facilities in any sale and leaseback transactions with respect to the Remaining Unit 2 Interest would not involve the creation of any security interests in, or liens on, any part of PVNGS. |
| | In any event,. neither (a) any differences between the terms |
| | 'of transaction and financing documents executed in connection with sale and leaseback transactions relating to the Remaining Unit 2 Interest, and the terms of transaction and financing documents exe-cuted in connection with the .August 1986 Sale and Leaseback Transactions, nor (b) the inclusion of Financial Support Facilities in sale and leaseback transactions relating to the Remaining Unit 2 Interest will alter. the representations and conditions material to the Commission's action on the Unit 2 Application and this Supplemental Application, including, specifically, the acknowledgment by the Lessors and the Equity Investors that before taking possession of any part of PVNGS, they will be subject to applicable requirements concerning (i) =the issuance of a license by the Commission authoriz-ing such possession or (ii) the transfer of the Commission license authorizing El Paso to possess an interest in PVNGS upon application for transfer of such license filed pursuant to applicable law. |
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| | ~ E It I i |
| | : 3. Schedule In the event that the Financial Support Facilities referred to in Section 2 of this Application are not incorporated in further sale and leaseback transactions relating to the Remaining Unit 2 Interest, the only regulatory or other approvals necessary to consum-mate such transactions, other than clearance of the public offering of the lease obligation bonds under Federal and state securities laws, approvals of the parties to such transactions and approvals already obtained, are: |
| | (i) The determination by the ANPP Administrative Committee required by Section 15.6 of the ANPP Participation Agreement; and (ii) The amendment to the Unit 2 License requested in this Supplemental Application. |
| | In the event that Financial Support Facilities are incorpo-rated in such sale and leaseback transactions, regulatory approvals in addition to those approvals referred to in the preceding paragraph will be required in order to consummate such transactions. |
| | Specifically, such additional regulatory approvals are orders from the New Mexico Public Service Commission (NMPSC) and the Federal Energy Regulatory Commission (FL'RC) authorizing the transactions pertaining to the use of Financial Support Facilities. |
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| | The ANPP Administrative Committee is expected to act in due course, either at a regularly convened meeting or a meeting convened specifically for that purpose. Both the NMPSC and FERC are expected to act, if so required, by mid November 1986. The timing of the amendment to the Unit 2 License requested by this Supplemental Application is, therefore, the primary scheduling consideration. |
| | If El Paso is successful in negotiating commitments from Equity Investors, it is desirable that El Paso be in a position to consummate the proposed sale and leaseback transactions with respect to the Remaining Unit 2 Interest as soon as possible after securing such commitments. Although tax considerations make it advantageous to close transactions by the end of the year, El Paso would like to have the flexibility to consummate transactions in 1987. To complete the sale and leaseback transactions in an orderly and timely manner, and to provide El Paso with some discretion in the timing of such transactions, it is desirable that: |
| | (a) notice of receipt of this Supplemental Application and a proposed no significant hazards determination be pub-lished in the Federal Register as soon as practicable; (b) El Paso notify the Commission as soon as possible of the date (the Closing Date) on which El Paso proposes to consummate a sale and leaseback transaction; provided that such Closing Date shall not occur prior to (i) the |
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| | t ninth (9th) day following the date on which El Paso so notifies the Commission, or (ii) the seventh (7th) day following the expiration of the comment period specified in the Federal Register notice, whichever is later; (c) 'the requested amendment to the Unit 2 License be issued and become ef fective not later than two (2) business days prior to the proposed Closing Date; and (d) the requested amendment be made effective for sale and leaseback transactions having Closing Dates during a period of six months after the date hereof or such other period as the Commission deems appropriate. |
| | : 4. Supporting Information V With respect to particular Equity Investors, the undertak-ing of El Paso to submit publicly available financial and other information will continue to apply to newly identified Equity Investors. El Paso will endeavor to supply the Commission with that information as soon as it is known, but in any event not later than nine (9) days prior to the proposed Closing Date. |
| | Copies of the most recent interim financial statements and reports on Form 10-Q for El Paso and Bank of Boston Corporation (parent corporation of The First National Bank of Boston, the Owner Trustee) will be provided to the Commission at or prior to the time |
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| | If 1" |
| | 4 |
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| | that supporting information concerning Equity Investors is provided pursuant to the preceding paragraph. |
| | : 5. Basis for Relief Requested As set forth above in Section 2, the proposed transactions described in this Supplemental Application will be similar to the August 1986. Sale and Leaseback Transactions previously consummated by El Paso in all respects material to the Commission's action. In addition, the relief requested in this Supplemental Application by. |
| | APS, on behalf of El Paso, is the same relief (based upon similar facts) as was previously granted by the'ommission in respect of the Unit 2 Application.'t is respectfully submitted that the Staff's action in response to this Supplemental Application should be'gov-erned by the Commission's response to the Unit 2 Application. |
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| | WHEREFORE, APS requests on behalf of El Paso that the Commission grant the relief requested in Section 1 hereof or in sue/ other form and/or subject to such conditions in addition 1 |
| | to those stated in such Section as the Commission may deem appropriate. |
| | Respectfully submitted, ARIZONA PUBLIC SERVICE COMPANY By Edwin E. Van Brunt, Jr. |
| | Executive Vice President-ANPP Dated: October 15, 1986 h % ~ 9'0 4L tk' h'4*Pl, 1'V'1 (AC V '0 /P 'a 4 VT "'ll |
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| | STATE OF ARIZONA ') |
| | t ) ss. |
| | County of Maricopa ) |
| | I, Edwin E. Van Brunt, Jr., represent that I am the Executive Vice President-ANPP, that the foregoing document has been signed by me on behalf of Arizona Public Service Company with full authority to do so, that I have read such document and know its contents, and that to the best of my knowledge and belief, the statements made therein are true. |
| | Edwin E. Van Brunt, Jr'worn before me this 15th day of October, 1986. |
| | Notary Public My Commission Expires: |
| | ;'t" Cornr;ission Expires pci Lfv i 1989 |
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Category:LEGAL TRANSCRIPTS & ORDERS & PLEADINGS
MONTHYEARML20217E1551999-09-28028 September 1999 Comment Supporting Pr 10CFR50 Re Elimination of Requirement for Licensees to Revise ISI & IST Programs Beyond Baseline Edition & Addenda of ASME B&PV Code ML17313B0651999-07-30030 July 1999 Comment on Draft Rg DG-1076, Service Level I,Ii & III Protective Coatings Applied to Npps. ML17313B0161999-07-0101 July 1999 Comment on Draft Rg DG-1074, SG Tube Integrity. ML20196K5631999-06-29029 June 1999 Comment Supporting Proposed Rule 10CFR50.55a Re Elimination of 120-month Requirement to Update ASME Code ISI & Inservice Testing Program ML20207D1591999-05-20020 May 1999 Comment on Proposed Rules 10CFR21,50 & 54 Re Use of Alternative Source Terms at Operating Reactors ML17313A9791999-05-20020 May 1999 Comment Opposing Draft Reg Guide DG-1084, Qualification & Training of Personnel for Nuclear Power Plants. as General Comment,Util Believes That Many of Proposed Changes Will Limit Ability to cross-train Mgt Level Personnel ML20205A4271999-03-18018 March 1999 Comment on Petition for Rulemaking PRM-50-64 Which Requested Greater Clarification by NRC Re Possible Financial Obligations of NPP Licensees as Reflected in NRC Final Policy Statement on Restructuring & Economic Deregulation ML17313A8521999-03-0505 March 1999 Comment Supporting Proposed Change to NRC Enforcement Policy.Suggested Rewording of Sections Provided ML17313A8191999-02-24024 February 1999 Comment Supporting Secy 99-007, Recommendation for Reactor Oversight Process Improvements, & Comments Provided by NEI & Regional Utility Group Iv.Offers Comments on NRC Approach to Using Performance Indicators in Assessment Process ML20198J4031998-12-11011 December 1998 Comment Opposing Proposed Rule 10CFR50 Re Requirement for Monitoring Effectiveness of Maint at NPPs ML20217B9761998-04-0909 April 1998 Comment Re Draft RG DG-1029, Guidelines for Evaluating Electromagnetic & Radio-Frequency Interference in Safey-Related Instrumentation & Control Sys ML20216A9091998-04-0303 April 1998 Comment Opposing Proposed Rule 10CFR50.55a Re Industry Codes & Stds ML17313A3361998-03-27027 March 1998 Comment Opposing Proposed GL Re Lab Testing on Nuclear-Grade Activated Charcoal. Believes That Proposed 60 Day Implementation Schedule Would Severely Challenge Resources of Limited Number of Qualified Vendors ML20217E8781998-03-27027 March 1998 Comment Supporting Proposed GL, Lab Testing of Nuclear- Grade Activated Charcoal ML17313A2511998-03-0303 March 1998 Comment on Proposed GL 98-XX Re Yr 2000 Readiness of Computer Sys at Npps. ML20203L5521998-02-25025 February 1998 Forwards Comments on Draft Reg Guide DG-5008, Reporting of Safeguards Events ML20202E4251998-01-30030 January 1998 Comment on Draft RG DG-1070, Sampling Plans Used for Dedicating Simple Metallic Commercial Grade Items for Use in Npps. Draft RG Should Be Revised to Clarify That Alloy Analyzer Can Be Used Consistent W/Guidance in EPRI NP-5652 ML20199E0871998-01-17017 January 1998 Comment Opposing PRM 50-63A by Pg Crane Re Amending Emergency Planning Regulations to Require Consideration of Prophylactic Use of Potassium Iodide for General Public ML20202G4461997-12-0101 December 1997 Comment on Proposed Final Rule 10CFR50.Licensee Requests That Effective Date Be Delayed from 980101 to 0601,in Order to Provide Enough Time to Request & Obtain NRC Review of Exemption from Rule ML20212D1391997-10-17017 October 1997 Comment on Pr 10CFR55 Re NUREG-1021,Interim Rev 8, Operator Licensing Exam Stds for Power Reactors ML17312B4241997-04-23023 April 1997 Comment Supporting Draft Rg DG-1068 (Proposed Rev 3 to Rg 1.134, Medical Evaluation of Licensing Personnel at Npps) ML20134J9671997-02-0606 February 1997 Comment Supporting Proposed Rule 10CFR50, Draft Policy Statement on Restructuring & Economic Deregulation of Electric Util Industry ML20134N2521996-11-14014 November 1996 Comment on Draft RG DG-1012,proposed Rev 3 to RG 1.8, Qualification & Training of Personnel for Npp ML20117E3871996-08-0707 August 1996 Comment Supporting Proposed Rule 10CFR26 Re Mod to fitness-for-duty Program Requirements ML20113C6981996-06-24024 June 1996 Comment Supporting Proposed Rule 10CFR50, Financial Assurance Requirements for Decommissioning Nuclear Power Reactors. Cautions NRC Not to Adopt Rules That Are Too Restrictive & Could Lead to Premature Decommissioning ML20117P1261996-06-24024 June 1996 Comment on Proposed Rule 10CFR50, Financial Assurance Requirements for Decommissioning Nuclear Power Reactors. Urges NRC to Approach Rulemaking Re Decommissioning Costs in Manner That Will Facilitate Federal Legislative Solution ML20095A8461995-11-28028 November 1995 Comment on Petition for Rulemaking PRM-50-62 Re Proposed Changes to 10CFR50.54.Util Endorses Industry Petition & Response Provided by NEI ML17311B2931995-11-27027 November 1995 Comment Opposing Draft NUREG/CR-6354, Performance Testing of Electronic Personnel Dosimeters. ML17311B1601995-08-31031 August 1995 Comment Opposing Review of Revised NRC SALP ML20087H7241995-08-16016 August 1995 Comment Opposing Proposed Rule 10CFR2 Re Comment on Revision of NRC Enforcement Policy ML20087H7501995-08-0404 August 1995 Comment on Proposed Rule 10CFR52 Re Std Design Certification for ABWR Design & Std Design Certification for Sys 80+ Design ML20087H7331995-08-0404 August 1995 Comment on Proposed Rule 10CFR52 Re Standard Design Certification for ABWR Design & Standard Design Certification for Sys 80+ Design.Concurs w/ABB-CE Comments & NEI Recommendations ML17311B0071995-06-27027 June 1995 Comment on Proposed Review of NRC Insp Rept Content,Format & Style. Insp Detail Should Be Brief & Ref Previous Rept by Section or at Min IR Number ML20083N5031995-05-0505 May 1995 Comment on Proposed Rev to 10CFR50,app J, Primary Reactor Containment Leakage Testing for Water-Cooled Power Reactors. Proposed Rev Will Result in Highly Efficient Regulation ML20082P7461995-04-19019 April 1995 Comment Supporting Proposed Rules 10CFR170 & 171 Re Proposed Revs of NRC Fee Schedule for FY95 in Fr ML20082H0971995-04-10010 April 1995 Draft Policy Statement Re Freedom of Employees in Nuclear Industry to Raise Safety Concerns W/O Fear of Retaliation ML20081B5721995-03-0808 March 1995 Motion of Plains Electric Generation & Transmission Cooperative,Inc to Withdraw,W/Prejudice,Petition for Leave to Intervene,Request for Finding of Significant Change & for Antitrust Hearing & Comments.* W/Certificate of Svc ML17311A6691995-02-0202 February 1995 Comment Supporting Draft Rg DG-8014 (Proposed Rev 3 to Rg 8.13, Instruction Concerning Prenatal Radiation Exposure) ML20078H0671995-01-20020 January 1995 Comment Supporting NUMARC Position on Proposed Rules 10CFR20,30,40,50,51,70 & 72 Re Radiological Criteria for Decommissioning of Lands & Structures ML20077M5471995-01-0404 January 1995 Comment Opposing Proposed Rule 10CFR50 Re Shutdown & low-power Operations for Nuclear Power Reactor Proposed Rule ML17311A2461994-08-25025 August 1994 Comment on Draft Reg Guide (DG-1031), Monitoring Effectiveness of Maint at Npps. Term Maint Preventable Failure Needs to Be Defined & Compared to Term Maint Preventable Functional Failure. ML17310B1911994-04-12012 April 1994 Petition to Intervene of Public Utility Commission of Texas. W/Certificate of Svc ML17310B2041994-04-12012 April 1994 Petition to Intervene of Public Utility Commission of Tx ML20062M4141993-12-27027 December 1993 Comment Supporting Petition for Rulemaking PRM-21-2 Re Procurement of Commercial Grade Items ML20056G3351993-08-27027 August 1993 Comment Opposing Proposed Rule 10CFR2 Re Review of 10CFR2.206 Process ML17306B2461993-01-15015 January 1993 Comment Supporting in Part,Draft Reg Guide DG-1020, Monitoring Effectiveness of Maint at Npps. ML17306A9571992-09-0808 September 1992 Comments on Proposed Rev to Staff Technical Position on Radwaste Classification.Supports Rev ML20099E0621992-07-29029 July 1992 Comment Opposing Proposed Rule 10CFR50.63, Loss of All AC Power ML20090F9661992-03-0909 March 1992 Comment Supporting Proposed Rule 10CFR50 & 52 Re Training & Qualification of Nuclear Power Plant Personnel ML17306A4501992-02-0404 February 1992 Comment on Draft Reg Guide Task DG-8007 (Proposed Rev 1 to Reg Guide 8.7) Re Instructions for Recording & Reporting Occupational Radiation Exposure Data 1999-09-28
[Table view] Category:OTHER LEGAL DOCUMENT
MONTHYEARML20090D8441992-01-27027 January 1992 Notice of Voluntary Dismissal of Petition for Leave to Intervene.* Proceeding Should Be Dismissed Due to Listed Reasons.W/Certificate of Svc ML20083B3381991-08-30030 August 1991 Licensee Notice to Take Deposition Upon Oral Exam.* Informs That Licensee Will Take Deposition Upon Oral Exam of Representative,Or Those Designated to Speak on Intervenors Behalf.W/Certificate of Svc & Related Correspondence ML20081G9901991-05-28028 May 1991 Notice of Appeal.* Notice of Appeal of Memorandum & Order (Granting Mitchell Petition for Leave to Intervene & Request for Hearing) ML20081H0671991-05-28028 May 1991 Brief of Licensee on Appeal of LBP-91-19.* NRC Should Reverse Board Decision to Admit Contention 1 & Should Deny Petitioner Request from Hearing Based on Listed Reasons.W/Certificate of Svc ML20073E2031991-04-22022 April 1991 Joint Rept of Settlement Negotiations.* Settlement of Contention 1 Impossible.W/Certificate of Svc ML20214G5541987-05-20020 May 1987 Comments of Plains Electric Generation & Transmission Cooperative,Inc on El Paso Electric Co 870422 Submittal.* Description of Contract Amend at Odds W/Terms of Amend. Certificate of Svc Encl ML17300A8291987-05-0707 May 1987 Comments of Plains Electric Generation & Transmission Cooperative,Inc,On Issuance of Facility OL to Operate at 5% of Full Power.Commission Must Consider Antitrust Issues Raised in 861128 & 870317 Comments.Certificate of Svc Encl ML17300A6111986-10-15015 October 1986 Supplemental Application Re Sale & Leaseback Transactions ML17300A3121986-08-0606 August 1986 Sale & Leaseback Transactions Re Palo Verde Nuclear Generating Station,Unit 2. ML17299B3011986-06-10010 June 1986 Supplemental Application Re Sale & Leaseback Transactions by Public Svc Co of New Mexico ML17299B1851986-04-15015 April 1986 Application in Respect of Sale & Leaseback Transactions by El Paso Electric Co ML17299B0291986-02-21021 February 1986 Memorandum Re Antitrust Reviews ML17299B0401986-02-21021 February 1986 Views & Comments Opposing Coalition for Responsible Energy Educ 860112 Petition for Suspension of License NPF-46. Petition W/O Merit.Relief Ill Conceived ML17299A6791985-10-18018 October 1985 Memorandum in Support of Application Requesting Relief by Issuance of Order Authorizing Transfer of Facility Through Sale & Leaseback Financing Transaction by PSC of Nm ML17299A6781985-10-18018 October 1985 Application Requesting Relief by Issuance of Order Authorizing Transfer of Facility Through Sale & Leaseback Financing Transaction by PSC of Nm ML20126C4701985-06-10010 June 1985 Notice of Appearance in Proceeding.Certificate of Svc Encl ML20094P8271984-08-16016 August 1984 Certifies Svc of Assessment of Salt Drift on Productivity of Agricultural Crops in Vicinity of Palo Verde Nuclear Generating Station & Data Summary Vol on 840814.Related Correspondence ML20024D5971983-08-0303 August 1983 Notice of Intent to File Motion to Reopen Re Unit 1 & Motion to Admit Contentions Re Problems Described in PNO-V-83-29 & PNO-V-83-29A,within 2 Wks.Certificate of Svc Encl ML20028G6641983-02-14014 February 1983 Notice of Change of Address of Counsel.Certificate of Svc Encl ML20066H4771982-11-19019 November 1982 Notices of Appearance in Proceeding.Certificate of Svc Encl ML20063P8901982-10-14014 October 1982 Notices of Appearance in Proceeding.Certificate of Svc Encl ML20063P4521982-10-0505 October 1982 Notice of Corrections to Joint Applicants Reply to Pl Hourihan Proposed Findings of Fact & Conclusions of Law ML20062M9991982-08-16016 August 1982 Notice of Corrections to Joint Applicants 820726 Proposed Initial Decision.Certificate of Svc Encl ML20052A3491982-04-22022 April 1982 Notice of Appearance in Proceeding.Certificate of Svc Encl ML20050H7361982-04-0909 April 1982 Notice of Pl Hourihan 820419 Deposition in Phoenix,Az Re Contention 5 & Const Deficiencies Alleged in 820406 Telcon. Certificate of Svc Encl.Related Correspondence ML20054C2121982-03-22022 March 1982 Notice of M Andrews,D Culbertson & MT Palmer 820415 Deposition in Phoenix,Az.Certificate of Svc Encl ML17297B2801981-08-14014 August 1981 Salt River Project - Authority,Palo Verde Nuclear Generating Station Assignment Agreement Between Salt River Project Agricultural Improvement & Power District & Southern CA Public Power Authority. ML17297A5871981-07-20020 July 1981 Notice of Withdrawal as Counsel for Intervenor Pl Hourihan. Certificate of Svc Encl ML17297A5071981-06-11011 June 1981 Notice of Correction to 810522 Request for Admissions by Intervenor.Numbers Appearing Under Total Column for 1985 & 1990 Are Incorrect (Page 2,Statement 2).W/Certificate of Svc.Related Correspondence ML17297A5411981-05-0101 May 1981 Notice of Entrance of Appearance on Behalf of Pl Hourihan ML19275A4581979-08-24024 August 1979 Joint Applicant Withdrawal of Application for CPs & Ols. Certificate of Svc Encl ML19224D0861979-06-28028 June 1979 Certificate of Svc Verifying That CA Energy Commission Comments on NRC Des Were Mailed on 790628 ML19294A7851979-02-26026 February 1979 Notice of Appearance of CA Bischoff on Behalf of Joint Applicants.Certificate of Svc Encl ML20147F0721978-12-13013 December 1978 Provides Notice That V Gilinsky Is Replacing Ga Linenberger as Member of ASLB ML20204D1361978-12-0404 December 1978 Suppl Notice of Hearing & Notice of Opportunity to Intervene Re Environ Issues in Hearing on Applications for Cp.Those Seeking to Intervene Must File Petition for Leave to Intervene by 790108 Per 10CFR2.714 ML20148M6451978-10-26026 October 1978 Notice That V Mackenzie Will Be Counsel of Record on Behalf of St of CA & Pub Utils Comm of St of CA in Proc Re Subj Facils.Cert of Svc Encl ML20148L9281978-10-24024 October 1978 Notice That a Watts Will Appear on Behalf of Cities of Anaheim & Riverside,Ca in Proceedings Re Subj Facils.Cert of Svc & Designation for Svc Encl 1992-01-27
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UNITED STATES OF AMERXCA NUCLEAR REGULATORY COMMISSION In the matter of ARIZONA PUBLIC SERVXCE COMPANY, et al.,
DOCKET NO. STN 50-529 (Palo Verde Nuclear Generating Station, Unit 2)
X SUPPLEMENTAL APPLICATXON IN RESPECT OF SALE AND LEASEBACK TRANSACTIONS BY EL PASO ELECTRIC COMPANY October 15, 1986 8610270067 861016 PDR ADOCK 05000529,.
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UNITED STATES OF AMEIHCA NUCLEAR REGULATORY COMMISSION X.
Xn the matter of ARIZONA PUBLIC SERVXCE COMPANY, et al.,
DOCKET NO. STN 50-529 (Palo Verde Nuclear Generating Station, Unit 2)
X SUPPLEMENTAL APPLICATXON XN RESPECT OF SALE AND LEASEBACK TRANSACTIONS BY EL PASO ELECTRIC COMPANY Arizona Public Service Company (APS), as Project Manager and Operating Agent of Palo Verde Nuclear Generating Station (PVNGS)
Units 1, 2 and 3, submits this Supplemental Application in Respect of Sale and Leaseback Transactions by El Paso Electric Company, with .
respect to PVNGS Unit 2 (Unit 2), on behalf of El Paso Electric Company (El Paso), a licensee under Facility Operating License No. NPF-51 '(the Unit 2 License).
Background
(i) The Unit 2 Application. On April 15, 1986, APS filed in Docket STH 50-529, on behalf of El Paso, an Application in Respect 1
of Sale and Leaseback Transactions by El Paso Electric Company. Such application was supplemented by subsequent submissions dated June 3, I
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July 30, August,7, August 8 and August 13, 1986 (such Application, as so supplemented, is hereinafter referred to as the Unit 2 Application) . On August 15, 1986, the Commission issued Amendment No. 3 to the Unit 2 License (Amendment No. 3) . The Staff's related evaluation of Amendment No. 3 is contained in a Safety Evaluation dated August 15, 1986. On August 18, 1986 and August 22, 1986, as permitted by Amendment No. 3, El Paso sold and leased back, in the aggregate, an 11.6% (approximate) undivided ownership interest in Unit 2 and a 3.87: (approximate) undivided ownership interest in cer-tain related PVNGS common facilities, in addition to certain PVNGS real property interests (such transactions being referred to herein as the August 1986 Sale and Leaseback Transactions).
(ii) Remaining Unit 2 Ownership Interests. E l P a s o proposes to enter into additional sale and leaseback financing trans-actions relating to all or a portion of El Paso's remaining 4.2:
(approximate) undivided ownership interest in Unit 2 and up to 1.4:
(approximate) undivided ownership interest in certain related PVNGS common facilities, in addition to certain real property interests (all of such interests being herein collectively called the Remaining Unit 2 Interest) . The estimated fair market value of the Remaining Unit 2 Interest is approximately $ 181 million.
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- 1. Relief Requested The relief requested by, this Supplemental Application is the issuance of a further amendment to the Unit 2 License, in sub-stantially the form of Amendment No. 3, so as to permit additional sale and leaseback transactions relating to all or a portion of the Remaining Unit 2 Interest.
- 2. Description of, the Proposed Transactions The additional sale and leaseback transactions with respect to the Remaining Unit 2 Interest are expected to'e consummated sub-stantially on the basis of documentation executed in connection with the August 1986 Sale and Leaseback Transactions, modified, however, to incorporate terms relating to the Financial Support Facilities referred to below. Subject to such modifications, the structure of any such further sale and leaseback transactions will be substan-tially similar to that of the August 1986 Sale and Leaseback Transactions (as previously described in the Unit 2 Application),
although the terms of various transaction and financing documents, as finally negotiated and executed, may not necessarily be the same as for the August 1986 Sale and Leaseback Transactions.
Additionally, such further sale and leaseback transactions may include financial support for the benefit of the Equity Investors for the term of the leases in an amount equal to their respective investments in such transactions, as such investments change over time. Such financial support could take the form of bank letters of credit, financial guarantees, cash escrow accounts and/or other
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financial support facilities (hereafter collectively referred to as the Financial Support Facilities).
Although Financial Support Facilities would provide the Equity Investors with added protection in respect of their invest-ments, the inclusion of such Financial Support Facilities in any sale and leaseback transactions with respect to the Remaining Unit 2 Interest would not involve the creation of any security interests in, or liens on, any part of PVNGS.
In any event,. neither (a) any differences between the terms
'of transaction and financing documents executed in connection with sale and leaseback transactions relating to the Remaining Unit 2 Interest, and the terms of transaction and financing documents exe-cuted in connection with the .August 1986 Sale and Leaseback Transactions, nor (b) the inclusion of Financial Support Facilities in sale and leaseback transactions relating to the Remaining Unit 2 Interest will alter. the representations and conditions material to the Commission's action on the Unit 2 Application and this Supplemental Application, including, specifically, the acknowledgment by the Lessors and the Equity Investors that before taking possession of any part of PVNGS, they will be subject to applicable requirements concerning (i) =the issuance of a license by the Commission authoriz-ing such possession or (ii) the transfer of the Commission license authorizing El Paso to possess an interest in PVNGS upon application for transfer of such license filed pursuant to applicable law.
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- 3. Schedule In the event that the Financial Support Facilities referred to in Section 2 of this Application are not incorporated in further sale and leaseback transactions relating to the Remaining Unit 2 Interest, the only regulatory or other approvals necessary to consum-mate such transactions, other than clearance of the public offering of the lease obligation bonds under Federal and state securities laws, approvals of the parties to such transactions and approvals already obtained, are:
(i) The determination by the ANPP Administrative Committee required by Section 15.6 of the ANPP Participation Agreement; and (ii) The amendment to the Unit 2 License requested in this Supplemental Application.
In the event that Financial Support Facilities are incorpo-rated in such sale and leaseback transactions, regulatory approvals in addition to those approvals referred to in the preceding paragraph will be required in order to consummate such transactions.
Specifically, such additional regulatory approvals are orders from the New Mexico Public Service Commission (NMPSC) and the Federal Energy Regulatory Commission (FL'RC) authorizing the transactions pertaining to the use of Financial Support Facilities.
The ANPP Administrative Committee is expected to act in due course, either at a regularly convened meeting or a meeting convened specifically for that purpose. Both the NMPSC and FERC are expected to act, if so required, by mid November 1986. The timing of the amendment to the Unit 2 License requested by this Supplemental Application is, therefore, the primary scheduling consideration.
If El Paso is successful in negotiating commitments from Equity Investors, it is desirable that El Paso be in a position to consummate the proposed sale and leaseback transactions with respect to the Remaining Unit 2 Interest as soon as possible after securing such commitments. Although tax considerations make it advantageous to close transactions by the end of the year, El Paso would like to have the flexibility to consummate transactions in 1987. To complete the sale and leaseback transactions in an orderly and timely manner, and to provide El Paso with some discretion in the timing of such transactions, it is desirable that:
(a) notice of receipt of this Supplemental Application and a proposed no significant hazards determination be pub-lished in the Federal Register as soon as practicable; (b) El Paso notify the Commission as soon as possible of the date (the Closing Date) on which El Paso proposes to consummate a sale and leaseback transaction; provided that such Closing Date shall not occur prior to (i) the
t ninth (9th) day following the date on which El Paso so notifies the Commission, or (ii) the seventh (7th) day following the expiration of the comment period specified in the Federal Register notice, whichever is later; (c) 'the requested amendment to the Unit 2 License be issued and become ef fective not later than two (2) business days prior to the proposed Closing Date; and (d) the requested amendment be made effective for sale and leaseback transactions having Closing Dates during a period of six months after the date hereof or such other period as the Commission deems appropriate.
- 4. Supporting Information V With respect to particular Equity Investors, the undertak-ing of El Paso to submit publicly available financial and other information will continue to apply to newly identified Equity Investors. El Paso will endeavor to supply the Commission with that information as soon as it is known, but in any event not later than nine (9) days prior to the proposed Closing Date.
Copies of the most recent interim financial statements and reports on Form 10-Q for El Paso and Bank of Boston Corporation (parent corporation of The First National Bank of Boston, the Owner Trustee) will be provided to the Commission at or prior to the time
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that supporting information concerning Equity Investors is provided pursuant to the preceding paragraph.
- 5. Basis for Relief Requested As set forth above in Section 2, the proposed transactions described in this Supplemental Application will be similar to the August 1986. Sale and Leaseback Transactions previously consummated by El Paso in all respects material to the Commission's action. In addition, the relief requested in this Supplemental Application by.
APS, on behalf of El Paso, is the same relief (based upon similar facts) as was previously granted by the'ommission in respect of the Unit 2 Application.'t is respectfully submitted that the Staff's action in response to this Supplemental Application should be'gov-erned by the Commission's response to the Unit 2 Application.
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WHEREFORE, APS requests on behalf of El Paso that the Commission grant the relief requested in Section 1 hereof or in sue/ other form and/or subject to such conditions in addition 1
to those stated in such Section as the Commission may deem appropriate.
Respectfully submitted, ARIZONA PUBLIC SERVICE COMPANY By Edwin E. Van Brunt, Jr.
Executive Vice President-ANPP Dated: October 15, 1986 h % ~ 9'0 4L tk' h'4*Pl, 1'V'1 (AC V '0 /P 'a 4 VT "'ll
STATE OF ARIZONA ')
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County of Maricopa )
I, Edwin E. Van Brunt, Jr., represent that I am the Executive Vice President-ANPP, that the foregoing document has been signed by me on behalf of Arizona Public Service Company with full authority to do so, that I have read such document and know its contents, and that to the best of my knowledge and belief, the statements made therein are true.
Edwin E. Van Brunt, Jr'worn before me this 15th day of October, 1986.
Notary Public My Commission Expires:
- 't" Cornr;ission Expires pci Lfv i 1989
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