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 ederal r
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.
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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.
Contact:
EDWARD SCHWEIBINZ JOHN JACOBSON i
(630)829-9712 (630)829-9736 9705190227 970519
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PDR ISrE i
PNO-III-97-048 PDR 190039 g
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