[Federal Register Volume 65, Number 200 (Monday, October 16, 2000)]
[Notices]
[Page 61195]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-26481]
[[Page 61195]]
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NUCLEAR REGULATORY COMMISSION
[Docket No. 50-289]
In the Matter of AmerGen Energy Company, LLC (Three Mile Island
Nuclear Station, Unit 1); Order Approving Application Regarding
Proposed Corporate Restructuring
I
AmerGen Energy Company, LLC (AmerGen, the licensee) is the holder
of Facility Operating License No. DPR-50, which authorizes AmerGen to
possess, use, and operate Three Mile Island Nuclear Station, Unit 1
(TMI-1 or the facility). The facility is located at the licensee's site
in Dauphin County, Pennsylvania. British Energy, Inc., and PECO Energy
Company (PECO) each own 50 percent of AmerGen.
II
By application dated July 19, 2000, AmerGen requested approval of
the indirect transfer of the facility operating license to Exelon
Corporation, to the extent such would occur upon PECO becoming a
subsidiary of Exelon Corporation, a new corporation to be formed in
connection with the proposed merger of Unicom Corporation (Unicom), the
parent of Commonwealth Edison Company, and PECO. Supplemental
information was provided by a submittal dated September 15, 2000.
Under the proposed merger, PECO will become a direct or indirect
subsidiary of Exelon Corporation. The merger was previously the subject
of an AmerGen application dated February 28, 2000, in which AmerGen
requested approval of the indirect transfer of the TMI-1 license (and
certain other licenses held by AmerGen) that would occur as a result of
a proposed transfer of PECO's 50 percent interest in AmerGen to Exelon
Generation Company, LLC (EGC). EGC is to be formed in connection with
the merger between Unicom and PECO referred to above, and will also
become a subsidiary of Exelon Corporation. British Energy, Inc., is not
involved in the merger and its interest in AmerGen will remain
unchanged. The February 28, 2000, application is still under review.
According to the July 19, 2000, application, the transfer of PECO's
50 percent interest in AmerGen to EGC may be delayed beyond the closing
of the merger of Unicom and PECO. During this interim period, Exelon
Corporation would become and continue to be the direct parent of PECO
pending the receipt of necessary approvals to allow PECO's generating
assets, including its interest in AmerGen, to be transferred to EGC;
PECO would continue to hold its 50 percent interest in AmerGen, which
will continue to be the sole owner and operator of TMI-1.
Approval of the indirect transfer of the facility operating license
that would occur under the immediately preceding circumstances was
requested by AmerGen pursuant to 10 CFR 50.80. Notice of the request
for approval and an opportunity for a hearing was published in the
Federal Register on August 31, 2000 (65 FR 53036). The Commission
received no comments or requests for hearing pursuant to such notice.
Under 10 CFR 50.80, no license, or any right thereunder, shall be
transferred, directly or indirectly, through transfer of control of the
license, unless the Commission shall give its consent in writing. Upon
review of the information in the July 19, 2000, application by AmerGen,
the September 15, 2000, supplement, and other information before the
Commission, the NRC staff has determined that the proposed corporate
restructuring under which Exelon Corporation will become the parent of
PECO while PECO continues to hold its ownership interest in AmerGen,
will not affect the qualifications of AmerGen as holder of the license
described above, and that the indirect transfer of the license, to the
extent effected by the proposed corporate restructuring, is otherwise
consistent with applicable provisions of law, regulations, and orders
issued by the Commission, subject to the condition set forth below.
The findings set forth above are supported by a safety evaluation
dated October 5, 2000.
III
Accordingly, pursuant to Sections 161b, 161i, and 184 of the Atomic
Energy Act of 1954, as amended, 42 U.S.C. Secs. 2201(b), 2201(i), and
2234; and 10 CFR 50.80, It is Hereby Ordered that the application
regarding the indirect license transfer related to the proposed
corporate restructuring is approved, subject to the following
condition:
(1) Should the proposed merger and restructuring not be
completed by October 5, 2001, this Order shall become null and void,
provided, however, upon written application and for good cause
shown, such date may in writing be extended.
This Order is effective upon issuance.
For further details with respect to this Order, see the application
dated July 19, 2000, the supplemental submittal dated September 15,
2000, and the safety evaluation dated October 5, 2000, which are
available for public inspection at the Commission's Public Document
Room located at One White Flint North, 11555 Rockville Pike (first
floor), Rockville, Maryland, and accessible electronically through the
ADAMS Public Electronic Reading Room link at the NRC Web site (http://www.nrc.gov).
Dated at Rockville, Maryland, this 5th day of October 2000.
For the Nuclear Regualtory Commission.
Samuel J. Collins,
Director, Office of Nuclear Reactor Regulation.
[FR Doc. 00-26481 Filed 10-13-00; 8:45 am]
BILLING CODE 7590-01-P