[Federal Register Volume 78, Number 43 (Tuesday, March 5, 2013)]
[Notices]
[Pages 14361-14362]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-05021]
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NUCLEAR REGULATORY COMMISSION
[NRC-2012-0310; Docket Nos. 50-445 and 50-446; License Nos. NPF-87 and
NPF-89]
In the Matter of Luminant Generation Company LLC, Comanche Peak
Nuclear Power Plant, Units 1 and 2; Order Approving the Proposed
Internal Restructuring and Indirect Transfer of License
I
Luminant Generation Company LLC (Luminant, the licensee), is the
holder of the Facility Operating License Nos. NPF-87 and NPF-89, which
authorizes the possession, use, and operation of the Comanche Peak
Nuclear Power Plant, Units 1 and 2 (CPNPP), and its Independent Spent
Fuel Storage Installation Facility. CPNPP is located in Somervell
County, Texas.
II
By application dated October 11, 2012, as supplemented by letters
dated October 24, November 26, December 5,
[[Page 14362]]
and December 17, 2012, the licensee, acting on behalf of Energy Future
Holdings Corporation (EFH), Energy Future Competitive Holdings Company
(EFCH), Texas Competitive Electric Holdings Company LLC, and Luminant
Holding Company LLC, the applicants, seek approval pursuant to 10 CFR
50.80 of the indirect transfer of control of CPNPP, Units 1 and 2,
Facility Operating License Nos. NPF-87 and NPF-89, respectively. The
transfer also involves the general license for CPNPP Independent Spent
Fuel Storage Installation Facility.
EFCH is a direct, wholly owned subsidiary of EFH. EFCH, through its
wholly owned subsidiaries, owns Luminant, the owner and operator of
CPNPP. EFH is planning an internal transaction, the ultimate result of
which is to convert EFCH from a Texas corporation into a Delaware
limited liability corporation. Following the conversion, EFCH will
remain a wholly owned subsidiary of EFH, and EFH will retain the same
assets, liabilities, owners, board of directors, and management. There
will be no change of control of EFH, EFCH, or Luminant as a result of
this internal restructuring. No physical changes to the CPNPP
facilities or operational changes are proposed.
The internal restructuring will be completed in several steps. EFH
would form a new wholly owned subsidiary known as EFH2 corporation
(EFH2), which would be a Texas corporation. EFH would then contribute
its stock in EFCH to EFH2 causing EFCH to become a wholly owned
subsidiary of EFH2. EFCH would then convert to a Delaware limited
liability company by operation of applicable Texas and Delaware law.
Finally, EFH would merge with and into EFH2 with EFH2 being the
surviving entity, and EFH2 would change its name to Energy Future
Holdings Corporation and adopt the current certificate of formation and
bylaws of EFH.
Approval of the indirect transfer of the facility operating license
was requested by Luminant. A notice entitled, AConsideration of
Approval of Application Containing Sensitive Unclassified Non-
Safeguards Information Regarding Proposed Energy Future Holdings
Corporation Internal Restructuring,'' was published in the Federal
Register on January 2, 2013 (78 FR 119), and a correction notice was
published on January 10, 2013 (78 FR 2295). No comments or hearing
requests were received. The supplemental letters dated November 26,
December 5, and December 17, 2012, provided additional information that
clarified the application and did not expand the scope of the
application as originally noticed.
Under 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 U.S. Nuclear Regulatory Commission (NRC) shall give
its consent in writing. Upon review of the information in the
application as supplemented, and other information before the
Commission, and relying upon the representations and agreements in the
application, the NRC staff has determined that the proposed indirect
transfer of control of the subject licenses held by the licensee to the
extent such will result from the proposed internal restructuring, as
described in the application, will not affect the qualifications of the
licensee to hold the respective licenses and is otherwise consistent
with the applicable provisions of law, regulations, and orders issued
by the NRC, pursuant thereto, subject to the conditions set forth
below. The findings set forth above are supported by a safety
evaluation dated February 25, 2013.
III
Accordingly, pursuant to Sections 161b, 161i, 161.o, and 184 of the
Atomic Energy Act of 1954, as amended (the Act), 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 indirect license transfer is
approved, subject to the following condition:
On October 10, 2007, Luminant Holding Company LLC, the immediate
parent company of Luminant Power, provided Luminant Power with a
support agreement in the amount of $250 million.
``It is hereby ordered that in connection with the proposed
transaction, Luminant Holding Company LLC shall increase the amount
available under this support agreement to $300 million, which
provides a source of funding in an amount that is adequate to fund
approximately one year's worth of the average projected expense for
the fixed operations and maintenance (O&M) of CPNPP.''
It is further ordered that after receipt of all required regulatory
approvals of the proposed indirect transfer action, Luminant shall
inform the Director of the Office of Nuclear Reactor Regulation in
writing of such receipt no later than 5 business days prior to the date
of the closing of the indirect transfer. Should the proposed indirect
transfer not be completed within 1 year from the date of this Order,
this Order shall become null and void, provided, however, upon written
application and good cause shown, such date may be extended by Order.
This Order is effective upon issuance.
For further details with respect to this Order, see the initial
application dated October 11, 2012 (Agencywide Documents Access and
Management System (ADAMS) Accession No. ML12312A157), as supplemented
by letters dated October 24, November 26, December 5, and December 17,
2012 (ADAMS Accession Nos. ML12312A071, ML12340A446, ML12354A058, and
ML12363A028, respectively), and the safety evaluation dated February
22, 2013, 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. Publicly available documents created or received at the NRC
are accessible electronically through ADAMS in the NRC Library at
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, or 301-415-4737, or by email to
[email protected].
Dated at Rockville, Maryland this 22nd day of February 2013.
For the Nuclear Regulatory Commission.
Michele G. Evans,
Director, Division of Operating Reactor Licensing, Office of Nuclear
Reactor Regulation.
[FR Doc. 2013-05021 Filed 3-4-13; 8:45 am]
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