[Federal Register Volume 65, Number 142 (Monday, July 24, 2000)]
[Notices]
[Pages 45626-45627]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-18654]


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NUCLEAR REGULATORY COMMISSION

[Docket No. 50-443]


In the Matter of United Illuminating Company (Seabrook Station, 
Unit 1); Order Approving Application Regarding Restructuring of United 
Illuminating Company

I

    United Illuminating Company (UI) holds 17.5-percent ownership 
interest in Seabrook Station, Unit 1. Ten other investor-owned and 
municipal entities unaffiliated with UI are co-owners of Seabrook 
Station, Unit 1.
    In connection with its ownership interest, UI is a co-holder of 
Facility Operating License No. NPF-86 issued by the U.S. Nuclear 
Regulatory Commission (NRC) pursuant to 10 CFR Part 50 on March 15, 
1990, for Seabrook Station, Unit 1. Under this license, North Atlantic 
Energy Service Corporation, an affiliate of Northeast Utilities, has 
the exclusive authority to operate Seabrook Station, Unit 1. Seabrook 
Station is located in Rockingham County, New Hampshire.

II

    Pursuant to 10 CFR 50.80, UI filed an application dated February 
17, 2000, which was supplemented by letters dated March 1, April 24, 
April 28, and May 10, 2000 (collectively herein referred to as the 
application). In the application, UI informed the Commission that it 
was in the process of implementing a corporate restructuring under 
which UIL Holdings Corporation (Holdings) would become the parent 
corporation to, and sole owner of UI. In addition, unregulated 
subsidiaries of UI would become direct or indirect subsidiaries of 
Holdings. UI would continue to hold its respective ownership percentage 
of and possession only license for Seabrook Station, Unit 1. UI would 
remain an ``electric utility'' as defined in 10 CFR 50.2, engaged in 
the generation, transmission, and distribution of electric energy for 
wholesale and retail sale. No physical

[[Page 45627]]

changes to the facility or operational changes are being proposed in 
the application, and none of the other co-owners of Seabrook Station, 
Unit 1, are involved in the proposed restructuring of UI. UI requested 
the Commission's approval of the indirect transfer of the license as 
held by UI to Holdings, to the extent effected by the proposed 
corporate restructuring, pursuant to 10 CFR 50.80. Notice of this 
request for approval was published in the Federal Register on May 8, 
2000 (65 FR 26640). No hearing requests were received.
    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 application, and other information before the 
Commission, the NRC staff has determined that the proposed corporate 
restructuring will not affect the qualifications of UI as a holder of 
the license, and that the indirect transfer of the license, to the 
extent effected by the restructuring, 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 a Safety Evaluation dated July 18, 2000.

III

    Accordingly, pursuant to Sections 161b, 161i, 161o, and 184 of the 
Atomic Energy Act of 1954 (the Act), as amended, 42 U.S.C. 2201(b), 
2201(i), 2201(o), and 2234; and 10 CFR 50.80, it is hereby ordered that 
the application regarding the proposed corporate restructuring of UI 
and the indirect transfer of the license held by UI is approved, 
subject to the following conditions:
    (1) UI 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 UI 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 ten percent (10%) of UI's 
consolidated net utility plant, as recorded on UI's books of account, 
and (2) should the corporate restructuring of UI not be completed by 
June 30, 2001, 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.
    For further details with respect to this action, see the initial 
application dated February 17, 2000, and supplements thereto dated 
March 1, April 24, April 28, and May 10, 2000, and the Safety 
Evaluation dated July 18, 2000, which are available for public 
inspection at the Commission's Public Document Room, the Gelman 
Building, 2120 L Street, NW., Washington, DC and accessible 
electronically through the ADAMS Public Electronic Reading Room link at 
the NRC Web site (http://www.NRC,gov).

    Dated at Rockville, Maryland this 8th day of July, 2000.

    For the Nuclear Regulatory Commission.
Samuel J. Collins,
Director, Office of Nuclear Reactor Regulation.
[FR Doc. 00-18654 Filed 7-21-00; 8:45 am]
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