[Federal Register Volume 70, Number 141 (Monday, July 25, 2005)]
[Notices]
[Pages 42592-42593]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E5-3942]
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NUCLEAR REGULATORY COMMISSION
[Docket Nos. 50-498 AND 50-499]
STP Nuclear Operating Company, et al. South Texas Project, Units
1 and 2; Notice of Consideration of Approval of Application Regarding
Proposed Corporate Restructuring and Opportunity for a Hearing
The U.S. Nuclear Regulatory Commission (NRC or the Commission) is
considering issuance of an order under Section 50.80 of Title 10 of the
Code of Federal Regulations (10 CFR) approving the indirect transfer of
Facility Operating License Nos. NPF-76 and NPF-80 for South Texas
Project (STP), Units 1 and 2, respectively, to the extent held by Texas
Genco, LP (Texas Genco).
The June 28, 2005, application requests the consent of the NRC to
the proposed indirect transfer of control of the STP, Units 1 and 2,
licenses to the extent held by Texas Genco. Texas Genco is a 44 percent
owner and non-operating licensee of STP, Units 1 and 2. According to
the application, filed by STP Nuclear Operating Company (STPNOC) on
behalf of Texas Genco, Texas Genco is indirectly owned by Texas Genco
Holdings, Inc., which in turn is wholly owned by Texas Genco LLC. Texas
Genco LLC is owned by investment funds affiliated with The Blackstone
Group, Hellman & Friedman LLC, Kohlberg Kravis Roberts & Co. L.P., and
Texas Pacific Group (the Investment Funds) and certain members of the
management team (Management owners).
As stated in the application, the ultimate owners of Texas Genco
are proposing a corporate restructuring such
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that several new entities would be interposed between (i) the
Investment Funds and Management owners and (ii) Texas Genco LLC. This
proposed restructuring is in anticipation of a proposed initial public
offering of a minority interest in Texas Genco Inc. Texas Genco Inc.,
was incorporated on May 20, 2005, as a wholly-owned subsidiary of
another new entity, Texas Genco Sponsor LLC. Immediately prior to the
initial public offering, Texas Genco Sponsor LLC and Texas Genco Inc.,
will form a new limited liability company, Texas Genco Holdings LLC.
Following certain transactions described in the application, and
following the initial public offering, Texas Genco Inc., will become
the sole managing member of Texas Genco Holdings LLC, and Texas Genco
Holdings LLC will become the sole owner of Texas Genco LLC and the
indirect owner of licensee Texas Genco, which shall at all times
continue to be a licensed owner of STP. According to the application,
the Investment Funds and Management owners would control Texas Genco
Inc., through their ownership of a majority of the voting power in
Texas Genco Inc., and continue to ultimately control Texas Genco.
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 the transfer of
a license, if the Commission determines that the proposed transferee is
qualified to hold the license, and 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.
Within 20 days from the date of publication of this notice, 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 C, ``Rules of General Applicability:
Hearing Requests, Petitions to Intervene, Availability of Documents,
Selection of Specific Hearing Procedures, Presiding Officer Powers, and
General Hearing Management for NRC Adjudicatory Hearings,'' of 10 CFR
Part 2. In particular, such requests and petitions must comply with the
requirements set forth in 10 CFR 2.309. Untimely requests and petitions
may be denied, as provided in 10 CFR 2.309(c)(1), 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 2.309(c)(1)(i)-(viii).
Requests for a hearing and petitions for leave to intervene should
be served upon Mr. John E. Matthews, Morgan, Lewis, & Bockius, LLP,
1111 Pennsylvania Avenue, NW., Washington, DC 20004, attorney for
STPNOC; Nicholas S. Reynolds, Winston & Strawn LLP, 1700 K Street, NW.,
Washington, DC 20006-3817, attorney for Texas Genco; the General
Counsel, U.S. Nuclear Regulatory Commission, Washington, DC 20555-0001
(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 2.302
and 2.305.
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, within 30 days from the date of publication of this notice,
persons may submit written comments regarding the license transfer
application, as provided 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 June 28, 2005, available for public
inspection at the Commission's Public Document Room (PDR), located at
One White Flint North, Public File Area O1 F21, 11555 Rockville Pike
(first floor), Rockville, Maryland. Publicly available records will be
accessible electronically from the Agencywide Documents Access and
Management System's (ADAMS) Public Electronic Reading Room on the
Internet at the NRC Web site, http://www.nrc.gov/reading-rm/adams.html.
Persons who do not have access to ADAMS or who encounter problems in
accessing the documents located in ADAMS, should contact the NRC PDR
Reference staff by telephone at 1-800-397-4209, 301-415-4737 or by e-
mail to [email protected].
Dated at Rockville, Maryland this 18th day of July, 2005.
For the Nuclear Regulatory Commission.
David H. Jaffe,
Senior Project Manager, Section 1, Project Directorate IV, Division of
Licensing Project Management, Office of Nuclear Reactor Regulation.
[FR Doc. E5-3942 Filed 7-22-05; 8:45 am]
BILLING CODE 7590-01-P