[Federal Register Volume 61, Number 67 (Friday, April 5, 1996)]
[Notices]
[Pages 15314-15315]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-8448]



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NUCLEAR REGULATORY COMMISSION
[Docket Nos. 50-133, 50-275 and 50-323]


Pacific Gas and Electric Company; Humboldt Bay Power Plant, Unit 
3; Diablo Canyon Nuclear Power Plant, Units 1 and 2

    Notice is hereby given that the United States Nuclear Regulatory 
Commission (the Commission) is considering approval under 10 CFR 50.80 
of the proposed corporate restructuring of Pacific Gas and Electric 
(PG&E), the licensee for Humboldt Bay Power Plant, Unit 3 and Diablo 
Canyon Nuclear Power Plant, Units 1 and 2. By letter dated November 1, 
1995, PG&E informed the Commission that a corporate restructuring of 
PG&E has been proposed that will result in the creation of a holding 
company under the name PG&E Parent Co., Inc. (``Parent Company'') of 
which PG&E would become a wholly-owned subsidiary. PG&E will remain 
holder of its licenses for Humboldt Bay Power Plant, Unit 3 and Diablo 
Canyon Nuclear Power Plant, Units 1 and 2. Under the restructuring, the 
holders of PG&E common stock will become the holders of common stock of 
the holding company on a share-by-share basis. After the restructuring, 
PG&E will continue to be a public utility providing the same utility 
services as it did immediately prior to the reorganization. According 
to the proposed plan, there will be no significant change in ownership, 
management, or sources of funds for operation, maintenance, or 
decommissioning of the Humboldt Bay Power Plant, Unit 3 and Diablo 
Canyon Nuclear Power Plant, Units 1 and 2 due to the corporate 
restructuring.
    Pursuant to 10 CFR 50.80, the Commission may approve the transfer 
of control of a license after notice to interested persons. Such 
approval is contingent upon the Commission's determination that the 
holder of the license following the transfer is qualified to have 
control of the license and that the transfer of such control is 
otherwise consistent with applicable provisions of law, regulations, 
and orders of the Commission.
    For further details with respect to this proposed action, see the 
licensee's letter dated November 1, 1995, with the following 
attachments: letter dated October 20, 1995, application filed before 
the Public Utilities Commission of the State of California from Harry 
W. Long, Jr. and Pilar Garcia, attorneys for Pacific Gas and Electric 
Company, and Testimony of Kent M. Harvey (Exhibit PG&E-1) and Keith O. 
Fukui (Exhibit PG&E-2). These documents are available for public 
inspection at the Commission's Public Document Room, the Gelman 
Building, 2120 L Street, N.W., Washington DC, and at the local public 
document rooms located at Humboldt County Library, 1313 3rd Street, 
Eureka, California 95501 and at the California Polytechnic State 
University, Robert E. Kennedy Library, Government Documents and Maps 
Department, San Luis Obispo, California 93407.

    Dated at Rockville, Maryland, this 29th day of March 1996.


[[Page 15315]]

    For the Nuclear Regualtory Commission.
Steven D. Bloom,
Project Manager, Project Directorate IV-2, Division of Reactor Projects 
III/IV, Office of Nuclear Reactor Regulation.
[FR Doc. 96-8448 Filed 4-4-96; 8:45 am]
BILLING CODE 7590-01-P