[Federal Register Volume 62, Number 216 (Friday, November 7, 1997)]
[Notices]
[Pages 60286-60287]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-29490]


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NUCLEAR REGULATORY COMMISSION

[Docket No. 50-410]


Long Island Lighting Company; Nine Mile Point Nuclear Station, 
Unit No. 2

    Notice is hereby given that the U.S. Nuclear Regulatory Commission 
(the Commission) is considering the issuance of an Order approving, 
under 10 CFR 50.80, an application regarding an indirect transfer of 
control of ownership and possessory rights held by Long Island Lighting 
Company (LILCO) under the operating license for Nine Mile Point Nuclear 
Station, Unit No. 2 (NMP2). The indirect transfer would be to the Long 
Island Power Authority (LIPA). LILCO is licensed by the Commission to 
own and possess an 18 percent interest in NMP2.
    By letter dated September 8, 1997, LILCO informed the Commission 
that LIPA plans to acquire LILCO by purchasing its stock through a cash 
merger, at a time when LILCO consists of its electric transmission and 
distribution system, its retail electric business, substantially all of 
its electric regulatory assets, and its 18 percent share of NMP2. LILCO 
thereby would become a subsidiary of LIPA. After this restructuring, 
LILCO will continue to exist as an ``electric utility'' as defined in 
10 CFR 50.2 providing the same electric utility services it did 
immediately prior to the restructuring. LILCO will continue to be a 
licensee of NMP2, and no direct transfer of the operating license or 
interests in the station will result from the proposed restructuring. 
The transaction would not involve any change to either the management 
organization or technical personnel of Niagara Mohawk Power 
Corporation, which is responsible for operating and maintaining NMP2.
    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 hold the 
license and that the transfer 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 
LILCO letter dated September 8, 1997, as supplemented October 8, 1997. 
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 room

[[Page 60287]]

located at the Penfield Library, State University of New York, Oswego, 
New York 13126.

    Dated at Rockville, Maryland this 28th day of October 1997.

    For the Nuclear Regulatory Commission.
Darl S. Hood,
Senior Project Manager, Project Directorate I-1, Division of Reactor 
Projects--I/II, Office of Nuclear Reactor Regulation.
[FR Doc. 97-29490 Filed 11-6-97; 8:45 am]
BILLING CODE 7590-01-P