[Federal Register Volume 60, Number 148 (Wednesday, August 2, 1995)]
[Rules and Regulations]
[Pages 39251-39252]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-19034]



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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

18 CFR Part 35

[Docket No. RM94-14-001]


Nuclear Plant Decommissioning Trust Fund Guidelines; Order 
Granting Rehearing for Purpose of Further Consideration and Granting 
Limited Stay of Certain Portions of Final Rule

Issued July 27, 1995.
AGENCY: Federal Energy Regulatory Commission.

ACTION: Final rule; order granting rehearing for purpose of further 
consideration and granting limited stay of certain provisions of final 
rule.

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SUMMARY: The Federal Energy Regulatory Commission (Commission) is 
granting rehearing for the purpose of further considering the matters 
that parties have raised in requests for rehearing and clarification 
and is staying certain provisions of the Final Rule. The provisions 
that the Commission is staying involve the requirements that: Public 
utilities create a separate fund for Commission-jurisdictional Fund 
collections; and Fund investment managers have a net worth of at least 
$100 million. The grant of rehearing for the purpose of further 
consideration and the stay of these provisions will afford the 
Commission time to consider the merits of the parties' requests.

EFFECTIVE DATE: July 31, 1995.

FOR FURTHER INFORMATION CONTACT:
Joseph C. Lynch (Legal Information), Federal Energy Regulatory 
Commission, Office of the General 

[[Page 39252]]
Counsel, 825 North Capitol Street NE., Washington, D.C. 20426, 
Telephone: (202) 208-2128
James K. Guest (Accounting Information), Office of Chief Accountant, 
825 North Capitol Street NE., Washington, D.C. 20426, Telephone: (202) 
219-2602.

SUPPLEMENTARY INFORMATION: In addition to publishing the full text of 
this document in the Federal Register, the Commission also provides all 
interested persons an opportunity to inspect or copy the contents of 
this document during normal business hours in Room 3401, at 941 North 
Capitol Street NE., Washington, D.C. 20426.
    The Commission Issuance Posting System (CIPS), an electronic 
bulletin board service, provides access to the texts of formal 
documents issued by the Commission. CIPS is available at no charge to 
the user and may be accessed using a personal computer with a modem by 
dialing (202) 208-1397. To access CIPS, set your communications 
software to 19200, 14400, 12000, 9600, 7200, 4800, 2400 or 1200bps, 
full duplex, no parity, 8 data bits and 1 stop bit. The full text of 
this document will be available on CIPS in ASCII and WordPerfect 5.1 
format. The complete text on diskette in WordPerfect format may also be 
purchased from the Commission's copy contractor, La Dorn Systems 
Corporation, also located in Room 3104, 941 North Capitol Street NE., 
Washington, D.C. 20426.

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DEPARTMENT OF ENERGY
[Docket No. RM94-14-001]

Nuclear Plant Decommissioning Trust Fund Guidelines; Order Granting 
Rehearing for Purpose of Further Consideration and Granting Limited 
Stay of Certain Portions of Final Rule

Issued July 27, 1995.

    Before Commissioners: Elizabeth Anne Moler, Chair; Vicky A. 
Bailey, James J. Hoecker, William L. Massey, and Donald F. Santa, 
Jr.

    On June 16, 1995, the Commission issued a Final Rule in Nuclear 
Plant Decommissioning Trust Fund Guidelines,1 setting forth 
requirements for the formation, organization and purpose of nuclear 
plant decommissioning trust funds (Fund) and for Fund investments. The 
Commission has received motions for stay and/or requests for rehearing 
and for clarification from: a group of investment management firms and 
trust companies; a group of public utility companies; Strong Capital 
Management, Inc.; Commonwealth Edison Company; Indiana Michigan Power 
Company; Maine Yankee Atomic Power Company; New England Public Power 
Nuclear Customers; and Edison Electric Institute.

    \1\ Nuclear Plant Decommissioning Trust Fund Guidelines, Order 
No. 580, 60 FR 34109 (June 30, 1995), 71 FERC para. 61,350 (1995).
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    In the absence of Commission action within 30 days, the requests 
for rehearing would be deemed to have been denied. 18 CFR 385.713. In 
order to allow sufficient time for due consideration of the matters 
raised, we will grant rehearing for the limited purpose of further 
consideration.
    A number of the parties request that the Commission stay the 
following provisions of the Final Rule while the requests for rehearing 
are pending:
    1. The requirement that public utilities must establish a separate 
nuclear decommissioning trust fund for Commission-jurisdictional Fund 
collections; and
    2. The requirement that a Fund investment manager must have a net 
worth of at least $100 million.2

    \2\ See 60 FR 34117, 34123; slip op. at 37, 71-72.
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    In acting on stay requests, the Commission applies the standard set 
forth in the Administrative Procedure Act,3 i.e., the stay will be 
granted if the Commission finds that ``justice so requires.'' 4 In 
this instance, we will grant a stay of the two challenged provisions of 
the Final Rule so that we may further consider them while the requests 
for rehearing are pending.

    \3\ 5 U.S.C. 705.
    \4\ See Power Authority of the State of New York, 71 FERC para. 
61,321 (1995).
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    The remaining provisions of the Final Rule will go into effect on 
July 31, 1995.
    The Commission orders:
    (A) Rehearing is hereby granted for the limited purpose of further 
consideration.
    (B) The following note is added to the end of Sec. 35.32 (18 CFR 
35.32):

    Note: The following provisions of this section are stayed as of 
July 31, 1995:

    1. The requirements in 18 CFR 35.32(a)(1) and (f) that public 
utilities must establish a separate nuclear decommissioning trust fund 
for Commission-jurisdictional Fund collections.
    2. The requirement in 18 CFR 35.32(a)(4) (the words ``and any other 
Fiduciary'') that a Fund investment manager must have a net worth of at 
least $100 million.

    Authority: 16 U.S.C. 791a-825r, 2601-2645; 31 U.S.C. 9701; 42 
U.S.C. 7101-7352.

    By the Commission.
Lois D. Cashell,
Secretary.
[FR Doc. 95-19034 Filed 7-28-95; 3:37 pm]
BILLING CODE 6717-01-P