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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