ML19322E138

Requests Approval of Encl Suppl 4 to Amend 40 of OL Application for Partial Transfer of CPs

ML19322E138
Person / Time
Site:	Seabrook
Issue date:	03/14/1980
From:	Merrill D PUBLIC SERVICE CO. OF NEW HAMPSHIRE
To:	Office of Nuclear Reactor Regulation
Shared Package
ML19322E137	List: ML19322E136 ML19322E138 ML19322E139 ML19322E140
References
NUDOCS 8003200232
Download: ML19322E138 (7)

Text

l s e PUBLIC SERVICE companyof New Hampshre March 14, 1980 United States Nuclear Regulatory Commission Directorate of Licensing Office of Regulation Washington, D. C. 20045 Attention: Director Re: Supplement No. 4 to Amendment 40 to License Application Dated March 30, 1973 (Docket Nos.

50 443 & 50-444) and Request for Partial Transfer of Construction Permits Nos.

CPPR-135 and CPPR-136 Gentlemen:

Pursuant to the Atomic Energy Act of 1954, as amended, and the Commission's Rules and Regulations thereunder, Public Service Company of New Hampshire (PSCo), on behalf of itself and the other licensees named in the above Construction Per-mits, hereby further supplements Amendment 40 to the above License Application as filed on May 16, 1979 To supplement the information heretofore supplied and in further support of the request for partial transfer, the Applicants hereby supply the following information:

A. Supporting Material

1. Since the filing of Supplement No. 3 to Amendment 40 to the License Application in October, 1979, there have been various developments with respect to the requested modifications 8003200 , Q $L

1 and partial transfers'of the Construction Permits which relate to the pending Request:

(a) As indicated in Supplement No. 3, there have been changes in the acceptances of the March offer by PSCo (e.g., the withdrawal by Central Vermont Public Service Cor-poration and Green Mountain Power Corporation and the reduct' ion by Massachusetts Municipal Wholesale Electric Company) which have reduced the proposed adjustments of ownership interests pursuant to that offer to an aggregate of 12.12645%. The Tenth Amendment to the Joint Ownership Agreement (heretofore filed as part of Supplement No. 3 to Amendment No. 40) has been executed and, when effective, would provide for readjustments between PSCo and the following participants:

Additional Licensee Ownership Share Massachusetts Municipal Wholesale Electric Company 6.000915 New Bedford Gas and Edison Light Company 2.17390 Bangor Hydro-Electric Company 1.80142-Montaup Electric Company 1.00000 Central Maine Power Company 1.00000 Taunton Municipal Lighting Plant Commission 0.13065 Town of Hudson, Massachusetts Light and Power Department 0.01957 12.12645%

The Tenth Amendment will not become effective until all requisite regulatory approvals'have been obtained which presently include the Commission-and the Massachusetts Department of Public Utili-ties. ,

l

-(b) On October 11, 1979, PSCo made a.further offering of a 10% Ownership Share of the- Seabrook Project. Acceptances of that offer have been received from:

Transferee Ownership Share New Hampshire Electric Coopera-tive, Inc. 2.17391%

Fitchburg Gas and Electric Light Company 0.26080 Taunton Municipal Lighting Plant Commission 0.21380 The latter two of these offerees are present participants in the Seabrook Project and licensees herein and New Hampshire Electric Cooperative, Inc. would become a new participant.

(c) As a result of these two offerings, PSCo antici-pates that its ownership interest will be reduced to 35.23497%

and the other entities' respective interests will be increased by-the percentages indicated above.

2. Each of the participants named in paragraph 1(a) above has previously filed supporting material demonstrating its finan-cial qualifications to acquire at least the additional interest shown in said paragraph.

3 Enclosed herewith are twenty-five copies of revised pages'for Part IIof the " General and Financial Information" section of the License Application to reflect the-foregoing-in-formation.

4. Filed herewith are -twenty-five . copies -of additional financial information with respect to certain of the entities-listed in. paragraph.1(b) above, demonstrating.its financial qualifications to assum3 its proposed enlarged interest in the Seabrook Project:

(a) Fitchburg Gas and Electric Light Company:

(1) Revised Source of Funds Schedule (with underlying assumptions), reflecting the enlarged in-terest; together with other updated supporting material relating to estimated annual AFUDC, projected generating unit construction expenses, interest coverages and finan-cial statistics. (Other material with respect to Fitch-burg was previously filed as part of Amendment 39 to the License Application - see Tab 16.)

(ii) 1978 Annual Report.

(b) Taunton Municipal Lighting Plant Commission:

(1) Revised Source of Funds Schedule.

5 New Hampshire Electric Cooperative, Inc. (NH Coop) will constitute a new participant. As soon as possible a further supplement will be filed setting forth material demonstrating its financial qualifications and responding to the Information requested by the Attorney General for Antitrust Review (10 CFR.

S 50.33a and Appendix L).

6. PSCo previously filed a Source of Funds Schedule which assumed it remained obligated for 38% of the Seabrook Project (see Attachment 4 to Supplement No. 3). The above information indicates that PSCo presently anticipates ultimate retention of a 35 23497% interest in the Seabrook project. In support of its financial qualifications.to support that interest, there are enclosed herewith twenty-five copies of.each of the follow-ing:

a .

(a) Pro Forma Source of Funds Schedule, dated 1/11/80, based;upon that interest.

Final Prospectus, dated January 22, 1980, (b) relating to $30,000,000 of General and Refunding Mortgage Bonds of PSCo.

(c) Final Prospectus, dated February 20, 1980,-relating to-1,500,000 shares of Common Stock of PSCo.

(d) Report and Order, dated December 26, 1979, of the New Hampshire Public Utilities Commission (NHPUC) relating to emergency rate relief for PSCo.

(e) Sixth Supplemental-Order No. 13,970, dated

- December 31, 1979, of the NHPUC, approvingLthe re-7 allocation of interests in the Seabrook Project.

B. Recuested Modifications of Construction Permits On the basis of the material filed herewith and heretofore.

in connection with Amendment No. 40 to the License Application,-

s the Applicants respectfully request,that the modifications-and partial transfers of the Construction Permits involving the seven participants named in paragraph 1(a) above as well as the

~

further partial transfers involving Taunton and Fitchburg.as described.in paragraph 1(b) above be' approved as soon as possi--

ble. The: Applicants submit that each of-those entities has-demonstrated its financial qualifications to acquire such in--

terests. Such approval.by the-. Commission.would? permit the Adjustment Period provided for in .the Tenth- Amendment to com-  ;

mence'as=soon as the: Massachusetts-Department'of.Public Utilities-y approval'is obtained., I

In addition, the Applicants respectfully request prompt approval of the modifications ar.d parti _1 transfers of the Construction Permits relating to the transfer by The United Illuminating Company to Central Maine Power Company and Montaup Electric Company. Those transfers are unrelated to the foregoing transactions by PSCo and the former transaction can be implemented without any regulatory approval other than that of the Commission. Early implementation of that transfer would permit those two Applicants to more efficiently plan their long-term financing program.

C. General This Supplement No. 4 to Amendment 40 (three signed origi-nals, under oath, and twenty-two copies) is being submitted by PSCo on behalf of all the current participants in the project as well as the above-na.,ed new participant. Copies of the Appointment of Agent form authorizing PSCo to act on behalf of New Hampshire Electric Cooperative, Inc. are enclosed here-with. Appointment of Agent forms authorizing PSCo to act on behalf of the other participants have previously been filed.

Respectfully submitted, PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE By /D. N. Merrill ,

D. N. Merrill Executive Vice President

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STATE OF MEW HAMPSHIRE COUNTY OF HILLSBOROUGH Personally appeared before nie this 17th day of March, 1980, D. N. Merrill, who, being duly sworn, did state that he is Executive Vice President of Public Service Company of New Hampshire, an applicant herein, that he is duly authorized to execute and file the foregoing supplement in the name and on behalf of Public Service Company of New Hampshire,-and that the statements in said supplement are true to the best of his knowledge and belief.

/F. J. Coolbroth Notary Public My Commission Expires: 10/13/81