[Federal Register Volume 62, Number 235 (Monday, December 8, 1997)]
[Notices]
[Pages 64601-64602]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-32021]


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NUCLEAR REGULATORY COMMISSION

[Docket Nos. 50-277 and 50-278]


PECO Energy Company, Public Service Electric And Gas Company, 
Delmarva Power And Light Company, Atlantic City Electric Company, Peach 
Bottom Atomic Power Station, Units 2 And 3; Notice Of Consideration Of 
Approval Of Application Regarding Proposed Corporate Restructuring

    Notice is hereby given that the U.S. Nuclear Regulatory Commission 
(the Commission) is considering approval, by issuance of an order, 
under 10 CFR 50.80, of the indirect transfer of control of Atlantic 
City Electric Company's (ACE) and Delmarva Power and Light Company's 
(DP&L) interests in the Peach Bottom Atomic Power Station (PBAPS), 
Units 2 and 3, licenses to the extent effected by a proposed merger and 
restructuring of Atlantic Energy, Inc. (the parent holding company of 
ACE) and DP&L, resulting in the formation of a new holding company, 
Conectiv, Inc., under which ACE and DP&L would become wholly owned

[[Page 64602]]

subsidiaries. Atlantic Energy, Inc., will cease to exist. PECO Energy 
Company, Public Service Electric and Gas Company (PSE&G), DP&L, and ACE 
are co-holders of Facility Operating Licenses Nos. DPR-44 and DPR-56, 
issued for operation of PBAPS, Units 2 and 3, located in Peach Bottom 
Township, York County, Pennsylvania. PECO, the licensed operator of the 
facilities, and PSE&G are not involved in the proposed merger and 
restructuring. An application filed by ACE and DP&L under cover of a 
letter dated April 30, 1997, from John H. O'Neill, Jr., of Shaw, 
Pittman, Potts & Trowbridge, Counsel for ACE and DP&L, informed the 
Commission of the proposed merger and corporate restructuring.
    According to the proposed plan, there will be no significant change 
in ownership, management, or sources of funds for operation, 
maintenance, or decommissioning of PBAPS, Units 2 and 3, due to the 
corporate restructuring. ACE and DP&L will continue to hold the 
licenses, and no direct transfer of the licenses will occur.
    Pursuant to 10 CFR 50.80, the Commission may approve the transfer 
of control of a license after appropriate 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 the proposed action, see the 
application filed by ACE and DP&L under cover of a letter dated April 
30, 1997, as supplemented November 7, 1997, from John H. O'Neill, Jr., 
Shaw, Pittman, Potts & Trowbridge (counsel for ACE and DP&L), which is 
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 Government Publications 
Section, State Library of Pennsylvania, (REGIONAL DEPOSITORY) Education 
Building, Walnut Street and Commonwealth Avenue, Box 1601, Harrisburg, 
Pennsylvania.

    Dated at Rockville, Maryland, this 2nd day of December 1997.

    For the Nuclear Regulatory Commission.
John F. Stolz,
Director, Project Directorate I-2, Division of Reactor Projects--I/II, 
Office of Nuclear Reactor Regulation.
[FR Doc. 97-32021 Filed 12-5-97; 8:45 am]
BILLING CODE 7590-01-P