[Federal Register Volume 65, Number 170 (Thursday, August 31, 2000)]
[Notices]
[Pages 53037-53038]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-22336]


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NUCLEAR REGULATORY COMMISSION

[Docket No. 50-271]


AmerGen Vermont, LLC; Vermont Yankee Nuclear Power Station; 
Notice of Consideration of Approval of Proposed Direct and Indirect 
License Transfers and Opportunity for a Hearing

    The U.S. Nuclear Regulatory Commission (the Commission) is 
considering the issuance of an order or orders under 10 CFR 50.80 
approving certain proposed direct and indirect transfers of Facility 
Operating License No. DPR-28 for Vermont Yankee Nuclear Power Station 
(Vermont Yankee) currently held by Vermont Yankee Nuclear Power 
Corporation, as the owner and licensed operator. The facility is 
located in Vernon, Vermont.
    A direct transfer of this license from Vermont Yankee Nuclear Power 
Corporation to AmerGen Vermont, LLC (AmerGen Vermont) was approved by 
the Nuclear Regulatory Commission by an order dated July 7, 2000. The 
approved direct transfer has not yet occurred. At this time, AmerGen 
Vermont is a wholly-owned subsidiary of AmerGen Energy Company, LLC 
(AmerGen), which in turn is 50 percent owned by PECO Energy Company 
(PECO) and British Energy, Inc. PECO and Unicom Corporation intend to 
merge and create a new holding company, Exelon Corporation, which will 
become the direct or indirect parent of PECO, Exelon Generation 
Company, LLC (EGC), and other subsidiaries. PECO intends to transfer to 
EGC all of its generating assets, including its 50 percent interest in 
AmerGen, which currently owns and holds the operating licenses for the 
Three Mile Island, Unit 1, Clinton, and Oyster Creek nuclear 
facilities. Depending upon the time of the above events, AmerGen 
Vermont plans to ultimately acquire the license for Vermont Yankee, or, 
following such acquisition, hold such license, under the following 
possible scenarios, which may be in addition to those already approved 
or subject to a pending application dated February 28, 2000, as 
supplemented, referenced below: (1) AmerGen Vermont acquires the 
license

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when AmerGen Vermont is wholly owned by AmerGen, which is in turn 50 
percent owned by EGC, which in turn is indirectly owned by Exelon 
Corporation (through Exelon Ventures Company); (2) AmerGen Vermont 
acquires the license when AmerGen Vermont is a wholly owned subsidiary 
of AmerGen, which in turn is 50 percent owned by PECO, and PECO is a 
subsidiary of Exelon Corporation; (3) AmerGen Vermont holds the 
license, but indirectly transfers the license by reason of PECO 
becoming a subsidiary of Exelon Corporation; and (4) AmerGen Vermont 
holds the license, but indirectly transfers the license by reason of 
PECO, either as a subsidiary of Exelon Corporation or as PECO exists 
today, transferring its interest in AmerGen to EGC. Under any of the 
above scenarios, British Energy, Inc.'s interest in AmerGen will remain 
unchanged.
    AmerGen Vermont filed an application dated August 14, 2000, 
describing the above possible scenarios and seeking Commission approval 
under 10 CFR 50.80 that would authorize the direct or indirect 
transfers involved to occur. AmerGen Vermont has previously filed an 
application dated February 28, 2000, and supplements thereto, seeking 
approval of a proposed indirect transfer of the license, presuming it 
has been transferred to AmerGen Vermont, that would occur by virtue of 
PECO's interest in AmerGen being transferred to EGC. To the extent the 
February 28, 2000, proposal is not subsumed by the August 14, 2000, 
application, the proposal in the former application will be considered 
in conjunction with those presented in the latter.
    No physical changes to the facility of operational changes, and no 
new changes to the license or technical specifications are being 
proposed in the August 14, 2000, application. According to the 
application, for the scenarios where EGC acquires PECO's 50 percent 
interest in AmerGen, no changes from the information provided by the 
February 28, 2000, application, as supplemented, with respect to 
technical or financial qualifications of AmerGen Vermont are being 
presented in the August 14, 2000, application. The decommissioning 
funding arrangements will be as presented in the application that was 
approved by the July 7, 2000, Order.
    Pursuant to 10 CFR 50.80, no license, or any right thereunder, 
shall be transferred, directly or indirectly, through transfer of 
control of the license, unless the Commission shall give its consent in 
writing. The Commission will approve an application for a direct 
transfer of a license if the Commission determined that the proposed 
transferee is qualified to be the license holder, or for an indirect 
transfer of a license if the Commission determines that the underlying 
transaction effecting the indirect transfer will not affect the 
qualifications of the holder of the license, and in either case if, in 
addition, the Commission determines that the transfer is otherwise 
consistent with applicable provisions of law, regulations, and orders 
issued by the Commission pursuant thereto.
    The filing of requests for hearing and petitions for leave to 
intervene, and written comments with regard to the license transfer 
application, are discussed below.
    By September 20, 2000, any person whose interest may be affected by 
the Commission's action on the application may request a hearing and, 
if not, the applicant may petition for leave to intervene in a hearing 
proceeding on the Commission's action. Requests for a hearing and 
petitions for leave to intervene should be filed in accordance with the 
Commission's rules of practice set forth in Subpart M, ``Public 
Notification, Availability of Documents and Records, Hearing Requests 
and Procedures for Hearings on License Transfer Applications,'' of 10 
CFR Part 2. In particular, such requests and petitions must comply with 
the requirements set forth in 10 CFR 2.1306, and should address the 
considerations contained in 10 CFR 2.1308(a). Untimely requests and 
petitions may be denied, as provided in 10 CFR 2.1308(b), unless good 
cause for failure to file on time is established. In addition, an 
untimely request or petition should address the factors that the 
Commission will also consider, in reviewing untimely requests or 
petitions, set forth in 10 CFR 2.1308(b)(1)-(2).
    Requests for a hearing and petitions for leave to intervene should 
be served upon: Kevin P. Gallen, Esq., Morgan, Lewis & Bockius, LLP, 
1800 M Street, NW., Washington, DC 20036-5869; the General Counsel, 
U.S. Nuclear Regulatory Commission, Washington, DC 20555 (e-mail 
address for filings regarding license transfer cases only: 
[email protected]); and the Secretary of the Commission, U.S. Nuclear 
Regulatory Commission, Washington, DC 20555-0001, Attention: 
Rulemakings and Adjudications Staff, in accordance with 10 CFR 2.1313.
    The Commission will issue a notice or order granting or denying a 
hearing request or intervention petition, designating the issues for 
any hearing that will be held and designating the Presiding Officer. A 
notice granting a hearing will be published in the Federal Register and 
served on the parties to the hearing.
    As an alternative to requests for hearing and petitions to 
intervene, by October 2, 2000, persons may submit written comments 
regarding the license transfer application, as provided for in 10 CFR 
2.1305. The Commission will consider and, if appropriate, respond to 
these comments, but such comments will not otherwise constitute part of 
the decisional record. Comments should be submitted to the Secretary, 
U.S. Nuclear Regulatory Commission, Washington, DC 20555-0001, 
Attention: Rulemakings and Adjudications Staff, and should cite the 
publication date and page number of this Federal Register notice.
    For further details with respect to this action, see the 
application dated August 14, 2000, available for public inspection at 
the Commission's Public Document Room, the Gelman Building, 2120 L 
Street, NW., Washington, DC, and available electronically through the 
ADAMS Public Electronic Reading Room link at the NRC Web site (http://www.NRC.gov).

    Dated at Rockville, Maryland this 23rd day of August 2000.

    For the Nuclear Regulatory Commission.
Richard P. Croteau,
Project Manager, Section 2, Project Directorate I, Division of 
Licensing Project Management, Office of Nuclear Reactor Regulation.
[FR Doc. 00-22336 Filed 8-30-00; 8:45 am]
BILLING CODE 7590-01-P