[Federal Register Volume 62, Number 204 (Wednesday, October 22, 1997)]
[Notices]
[Page 54866]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-28001]


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NUCLEAR REGULATORY COMMISSION

[Docket No. 50-483]


In the Matter of Union Electric Company (Callaway Plant, Unit 1); 
Order Approving Application Regarding the Corporate Merger Agreement 
Between Union Electric Company and Cipsco Incorporated To Form a 
Holding Company

I

    Union Electric Company (UEC) is sole owner of Callaway Plant, Unit 
1. UEC holds Facility Operating License No. NPF-30 issued by the U.S. 
Nuclear Regulatory Commission (NRC) pursuant to Part 50 of Title 10 of 
the Code of Federal Regulations on October 18, 1984. Under this 
license, UEC has the authority to own and operate Callaway Plant, Unit 
1. Callaway Plant is located in Callaway County, Missouri.

II

    By letter dated February 23, 1996, as supplemented by letters dated 
April 24, 1996, and November 15, 1996, UEC informed the Commission that 
it had entered into a merger agreement with CIPSCO Incorporated 
(CIPSCO) which would provide for UEC to become a wholly-owned operating 
company of Ameren Corporation (Ameren). Ameren was formed to implement 
the merger agreement, and is presently owned equally by UEC and CIPSCO. 
Under the merger agreement, current holders of UEC common stock and 
holders of CIPSCO common stock will become holders of common stock in 
Ameren. UEC requested, to the extent necessary, the Commission's 
approval, pursuant to 10 CFR 50.80. Notice of this application for 
approval was published in the Federal Register on June 10, 1996 (61 FR 
29434), and an Environmental Assessment and Finding of No Significant 
Impact was published in the Federal Register on November 22, 1996 (61 
FR 59469).
    Under 10 CFR 50.80, no license 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 submitted in the letter of February 23, 1996, as 
supplemented by letters dated April 24, 1996, and November 15, 1996, 
and other information before the Commission, the NRC staff has 
determined that consummation of the merger agreement between UEC and 
CIPSCO, resulting in UEC becoming a wholly-owned subsidiary of a 
holding company, Ameren, will not affect the qualifications of UEC as 
holder of the license for Callaway Plant, and that the transfer of 
control of the license, to the extent effected by the consummation of 
the merger agreement between UEC and CIPSCO, is otherwise consistent 
with applicable provisions of law, regulations, and orders issued by 
the Commission, subject to the conditions set forth herein. These 
findings are supported by the Safety Evaluation dated October 16, 1997.

III

    Accordingly, pursuant to Section 161b, 161i, 161o, and 184 of the 
Atomic Energy Act of 1954, as amended, 42 USC 2201(b), 2201(i), 2201(o) 
and 2234, and 10 CFR 50.80, It Is Hereby Ordered that the Commission 
approves the application regarding the merger agreement between UEC and 
CIPSCO, under which Ameren will become the holding company of UEC, 
subject to the following: (1) UEC shall provide the Director of the 
Office of Nuclear Reactor Regulation a copy of any application, at the 
time it is filed, to transfer (excluding grants of security interests 
or liens) from UEC to its proposed parent or to any other affiliated 
company, facilities or other assets for the production, transmission, 
or distribution of electric energy having a depreciated book value 
exceeding ten percent (10%) of UEC's consolidated net utility plant, as 
recorded on UEC's books of account; and (2) should the merger agreement 
between UEC and CIPSCO not be implemented by September 30, 1998, this 
Order shall become null and void, provided, however, on application and 
for good cause shown, such date may be extended.
    This Order is effective upon issuance.

IV

    By November 21, 1997, any person adversely affected by this Order 
may file a request for a hearing with respect to issuance of the Order. 
Any person requesting a hearing shall set forth with particularity how 
that interest is adversely affected by this Order and shall address the 
criteria set forth in 10 CFR 2.714(d).
    If a hearing is to be held, the Commission will issue an order 
designating the time and place of such hearing.
    The issue to be considered at any such hearing shall be whether 
this Order should be sustained.
    Any request for a hearing must be filed with the Secretary of the 
Commission, U.S. Nuclear Regulatory Commission, Washington, DC 20555-
0001, Attention: Rulemakings and Adjudications Staff, or may be 
delivered to 11555 Rockville Pike, Rockville, Maryland between 7:45 am 
and 4:15 pm Federal workdays, by the above date. Copies should be also 
sent to the Office of the General Counsel, and to the Director, Office 
of Nuclear Reactor Regulation, U.S. Nuclear Regulatory Commission, 
Washington, DC 20555, and to Gerald Charnoff, Esquire/Thomas A. Baxter, 
Esquire, Shaw, Pittman, Potts & Trowbridge, 2300 N. Street, N.W., 
Washington, D.C. 20037, attorneys for UEC.
    For further details with respect to this Order, see the application 
dated February 23, 1996, and supplemental letters dated April 24, 1996 
and November 15, 1996, which are available for public inspection at the 
Commission's Public Document Room, the Gelman Building, 2120 L Street, 
NW., Washington, DC, and at the local public document room located at 
the Callaway County Public Library, 710 Court Street, Fulton, Missouri 
65251.

    Dated at Rockville, Maryland, this 16th day of October 1997.

    For the Nuclear Regulatory Commission.
Samuel J. Collins,
Director, Office of Nuclear Reactor Regulation.

[FR Doc. 97-28001 Filed 10-21-97; 8:45 am]
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