[Federal Register Volume 71, Number 155 (Friday, August 11, 2006)]
[Notices]
[Pages 46246-46247]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-13121]


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NUCLEAR REGULATORY COMMISSION

[Docket No. 50-331; License No. DPR-49]


In the Matter of Fpl Energy Duane Arnold, Llc; (Duane Arnold 
Energy Center); Order Approving Application Regarding Proposed 
Corporate Merger

I

    FPL Energy Duane Arnold, LLC (FPL Energy Duane Arnold or the 
licensee) is a holder of Facility Operating License No. DPR-49, which 
authorizes the possession, use, and operation of the Duane Arnold 
Energy Center (the facility). FPL Energy Duane Arnold is licensed by 
the U.S. Nuclear Regulatory

[[Page 46247]]

Commission (NRC or Commission) to operate the facility. The facility is 
located at the licensee's site 8 miles northwest of Cedar Rapids, Iowa.

II

    By application dated January 20, 2006 (the application), FPL Energy 
Duane Arnold requested that the NRC, pursuant to 10 CFR 50.80, consent 
to the proposed indirect transfer of control of the license to the 
extent currently held by FPL Energy Duane Arnold. The other co-owners 
of the facility, Central Iowa Power Cooperative and Corn Belt Power 
Cooperative, are not involved in this action.
    According to the application filed by FPL Energy Duane Arnold, FPL 
Energy Duane Arnold will continue to own a 70 percent ownership 
interest in the facility.
    As stated in the application, in connection with the proposed 
merger of FPL Energy Duane Arnold's ultimate parent company, FPL Group, 
Inc. (FPL Group), and Constellation Energy Group, Inc. (CEG, Inc.), FPL 
Group will become a wholly owned subsidiary of CEG, Inc. At the closing 
of the merger, the former shareholders of FPL Group will own 
approximately 60 percent of the outstanding stock of CEG, Inc., and the 
premerger shareholders of CEG, Inc., will own the remaining 
approximately 40 percent. In addition, the CEG, Inc., Board of 
Directors will be composed of fifteen members, nine of whom will be 
named by FPL Group, and six of whom will be named by the current CEG, 
Inc.
    Approval of the indirect transfer of the facility operating license 
was requested by FPL Energy Duane Arnold pursuant to 10 CFR 50.80. 
Notice of the request for approval and an opportunity for a hearing was 
published in the Federal Register on February 22, 2006 (71 FR 9172). No 
comments or petitions to intervene were received.
    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. Upon review of the information in the application by FPL 
Energy Duane Arnold and other information before the Commission, the 
NRC staff concludes that the proposed merger and resulting indirect 
transfer of control of the license will not affect the qualifications 
of FPL Energy Duane Arnold as holder of the facility license, and that 
the indirect transfer of control of the license as held by FPL Energy 
Duane Arnold, is otherwise consistent with applicable provisions of 
law, regulations, and orders issued by the Commission pursuant thereto.
    The findings set forth above are supported by a safety evaluation 
dated August 3, 2006.

III

    Accordingly, pursuant to Sections 161b, 161i and 184 of the Atomic 
Energy Act of 1954, as amended (the Act), 42 U.S.C. 2201(b), 2201(i) 
and 2234; and 10 CFR 50.80, It Is Hereby Ordered that the application 
regarding the proposed merger and indirect license transfer is 
approved, subject to the following condition:
    Should the proposed merger not be completed within one year from 
the date of issuance, this Order shall become null and void, provided, 
however, upon written application and good cause shown, such date may 
in writing be extended.
    This Order is effective upon issuance.
    For further details with respect to this Order, see the application 
dated January 20, 2006, and the safety evaluation dated August 3, 2006, 
which are available for public inspection at the Commission's Public 
Document Room (PDR), located at One White Flint North, Public File Area 
01 F21, 11555 Rockville Pike (first floor), Rockville, Maryland and 
accessible electronically from the Agencywide Documents Access and 
Management System (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 3rd day of August 2006.

    For the Nuclear Regulatory Commission.
Catherine Haney,
Director, Division of Operating Reactor Licensing, Office of Nuclear 
Reactor Regulation.
[FR Doc. E6-13121 Filed 8-10-06; 8:45 am]
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