[Federal Register Volume 59, Number 10 (Friday, January 14, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-951]


[[Page Unknown]]

[Federal Register: January 14, 1994]


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NUCLEAR REGULATORY COMMISSION

[Docket No. 50-443; License No. NPF-86]

 

North Atlantic Energy Service Corp.; Seabrook Station, Unit No. 
1; Order Approving Transfer of License

I

    Vermont Electric Generation and Transmission Cooperative, Inc., 
(Vermont) is the holder of a 0.41259-percent ownership share in 
Seabrook Station, Unit No. 1. Vermont's interest in Seabrook Station, 
Unit No. 1, is governed by License No. NPF-86 issued by the U.S. 
Nuclear Regulatory Commission (the NRC) pursuant to 10 CFR part 50 on 
March 15, 1990, in Docket No. 50-443. Under this license, only North 
Atlantic Energy Service Corporation (North Atlantic), acting as agent 
and representative of 12 joint owners listed in the license, has the 
authority to operate Seabrook Station, Unit No. 1. Seabrook Station, 
Unit No. 1, is located in Rockingham County, New Hampshire.

II

    By letter dated August 27, 1993, North Atlantic proposed an 
amendment to License No. NPF-86 which would change the license to 
reflect the transfer of Vermont's 0.41259-percent ownership share in 
Seabrook Station, Unit No. 1, to North Atlantic Energy Corporation 
(NAEC).
    In 1990, Vermont filed a claim against Public Service Company of 
New Hampshire (PSNH) with the United States Bankruptcy Court which was 
then hearing a petition from PSNH for reorganization under Chapter II 
of the United States Bankruptcy Code. Vermont's claim sought redress 
for damages that were alleged to have been incurred while PSNH had been 
the managing agent for the Seabrook Station. In November 1990, the two 
parties reached a settlement which included an agreement by PSNH or its 
designee to purchase Vermont's share of the Seabrook Station, Unit No. 
1, subject to obtaining the necessary approvals from all regulatory 
agencies. In December 1990, the Bankruptcy Court issued an order 
approving the stipulation that PSNH and Vermont had filed describing 
the settlement.
    In June 1992, in accordance with the Plan of Reorganization for 
PSNH that was confirmed by the Bankruptcy Court, Northeast Utilities 
(NU) acquired PSNH in merger transactions and, after receipt of NRC 
approval, NAEC (a weekly formed and wholly owned subsidiary of NU) 
acquired PSNH's interest in Seabrook Station, Unit No. 1. The transfer 
of Vermont's ownership share in Seabrook to NAEC will consummate the 
settlement entered into by Vermont and PSNH.
    The transfer of rights under License No. NPF-86 is subject to the 
NRC's approval under 10 CFR 50.80(a). After reviewing information 
submitted in the August 27, 1993, letter and other information before 
the Commission, the NRC staff has determined that the transfer of 
Vermont's interest in Seabrook Station, Unit No. 1 to NAEC (which is 
already a licensee) does not affect NAEC's technical or financial 
qualifications to be a holder of License No. NPF-86, and the license 
transfer is otherwise consistent with applicable provisions of law, 
regulations, and orders issued by the Commission.

III

    Pursuant to 10 CFR 51.21, 51.32, and 51.35, an environmental 
assessment and finding of no significant impact was published in the 
Federal Register on January 5, 1994 (59 FR 605). Accordingly, based 
upon the environmental assessment, the Commission has determined that 
issuance of this order will not have a significant effect on the 
quality of the human environment.
    Accordingly, pursuant to Sections 161b and 161i of the Atomic 
Energy Act of 1954 (as amended), 42 U.S.C. 2201, and 10 CFR 50.80, it 
is hereby ordered that the transfer of control of Vermont Electric 
Generation and Transmission Cooperative, Inc.'s 0.41259-percent 
undivided ownership interest in Seabrook Station, Unit No. 1, to North 
Atlantic Energy Corporation is approved subject to the following: (1) 
Should the transfer not be completed by May 30, 1994, this Order will 
be null and void and (2) on application and for good cause shown, this 
Order may be extended for a short period beyond May 30, 1994.

    Dated at Rockville, MD, this 7th day of January 1994.

    For the Nuclear Regulatory Commission.
Thomas E. Murley,
Director, Office of Nuclear Reactor Regulation.
[FR Doc. 94-951 Filed 1-13-94; 8:45 am]
BILLING CODE 7590-01-M