[Federal Register Volume 62, Number 247 (Wednesday, December 24, 1997)]
[Notices]
[Pages 67413-67414]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-33546]


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NUCLEAR REGULATORY COMMISSION

Docket No. 50-354


Atlantic City Electric Company (Hope Creek Generating Station); 
Order Approving Application Regarding Merger Agreement Between Atlantic 
Energy, Inc. (Parent of Atlantic City Electric Company) and Delmarva 
Power and Light Company

I

    Atlantic City Electric Company (ACE) and Public Service Electric 
and Gas Company (PSE&G) are co-holders of Facility Operating License 
No. NPF-57, issued by the U.S. Nuclear Regulatory Commission (NRC or 
Commission) pursuant to Part 50 of Title 10 of the Code of Federal 
Regulations (10 CFR Part 50) for operation of the Hope Creek Generating 
Station (Hope Creek). Under the license, PSE&G is authorized to 
possess, use, and operate the facility, and ACE is authorized to 
possess the facility. Hope Creek is located in Salem County, New 
Jersey.

II

    By application filed by ACE under cover of a letter dated April 30, 
1997, from John H. O'Neill, Jr., of Shaw, Pittman, Potts & Trowbridge, 
attorney for ACE, supplemented by letter dated November 7, 1997, ACE 
requested the Commission's approval, pursuant to 10 CFR 50.80, of the 
indirect transfer of the license, to the extent held by ACE, that would 
result from the consummation of a merger agreement between Atlantic 
Energy, Inc. (parent of ACE) and Delmarva Power and Light Company 
(DP&L). Under the merger agreement, Atlantic Energy, Inc. and DP&L 
would form a new holding company, Conectiv, Inc., under which ACE and 
DP&L would become wholly owned subsidiaries. No direct transfer of the 
license would occur. PSE&G is not involved in the merger.
    A Notice of Consideration of Approval of Application Regarding 
Proposed Corporate Restructuring was published in the Federal Register 
on December 8, 1997 (62 FR 64600), and an Environmental Assessment and 
Finding of No Significant Impact was published in the Federal Register 
on December 8, 1997 (62 FR 64603).
    Under 10 CFR 50.80, no license shall be transferred, directly or 
indirectly, through transfer of control of the license, unless the 
Commission gives its consent in writing. Upon review of the information 
submitted in the letter and application of April 30, 1997, and 
supplement dated November 7, 1997, the NRC staff has determined that 
the proposed merger of Atlantic Energy, Inc. and DP&L will not affect 
the qualifications of ACE as a holder of the license, and that the 
transfer of control of the license for Hope Creek, to the extent 
effected by the proposed merger, is otherwise consistent with 
applicable provisions of law, regulations, and orders issued by the 
Commission, subject to the conditions stated herein. These findings are 
supported by a safety evaluation dated December 18, 1997.

III

    Accordingly, pursuant to Sections 161b, 161i, 161o, and 184 of the 
Atomic Energy Act of 1954, as amended, 42 USC Secs. 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 proposed merger of 
Atlantic Energy, Inc. and DP&L subject to the following conditions: (1) 
ACE 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 ACE to 
its proposed parent or to any other affiliated company, facilities for 
the production, transmission, or distribution of electric energy having 
a depreciated book value exceeding 10 percent (10%) of ACE's 
consolidated net utility plant, as recorded on ACE's books of account; 
and (2) should the merger of Atlantic Energy, Inc. and DP&L, as 
described herein, not be completed by December 31, 1998, this Order 
shall become null and void, provided, however, on application and for 
good cause shown, such date is extended.
    This Order is effective upon issuance.

IV

    By January 23, 1998, 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 the Commission's Public Document Room, The Gelman 
Building, 2120 L Street, NW., Washington, DC 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 20555-0001, and to John H. O'Neill, Jr., 
Shaw, Pittman, Potts & Trowbridge, 2300 N Street, NW., Washington, DC, 
20037, attorney for ACE.
    For further details with respect to this action, see the 
application filed by ACE under cover of a letter dated April 30, 1997, 
from John H. O'Neill, Jr., of Shaw, Pittman, Potts & Trowbridge, as 
supplemented by a letter dated November 7, 1997, and the safety 
evaluation dated December 18, 1997, 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

[[Page 67414]]

at the Pennsville Public Library, 190 South Broadway, Pennsville, NJ.

    Dated at Rockville, Maryland, this 18th day of December 1997.

    For the Nuclear Regulatory Commission.
Samuel J. Collins,
Director, Office of Nuclear Reactor Regulation.
[FR Doc. 97-33546 Filed 12-23-97; 8:45 am]
BILLING CODE 7590-01-P