[Federal Register Volume 61, Number 207 (Thursday, October 24, 1996)]
[Notices]
[Page 55174]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-27293]
[[Page 55174]]
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NUCLEAR REGULATORY COMMISSION
[Docket Nos. 50-133, 50-275 and 50-323]
Pacific Gas and Electric Company; (Humboldt Bay Power Plant, Unit
3, and Diablo Canyon Nuclear Power Plant, Units 1 and 2); Order
Approving Application Regarding the Corporate Restructuring of Pacific
Gas and Electric Company by Establishment of a Holding Company
I
Pacific Gas and Electric Company (PG&E) is sole owner of Humboldt
Bay Power Plant (HBPP), Unit 3, and Diablo Canyon Nuclear Power Plant
(DCPP), Units 1 and 2. PG&E holds Facility Operating License No. DPR-7
issued by the U.S. Atomic Energy Commission (AEC) and holds Facility
Operating License Nos. DPR-80 and DPR-82 issued by the U.S. Nuclear
Regulatory Commission (NRC) pursuant to Part 50 of Title 10 of the Code
of Federal Regulations (10 CFR Part 50) on August 28, 1962, November 2,
1984 and August 26, 1985, respectively. Under these licenses, PG&E has
the authority to possess, but not operate the Humboldt Bay Power Plant,
Unit 3, and to operate Diablo Canyon Nuclear Power Plant, Units 1 and
2. Humboldt Bay is located in Humboldt County, California and Diablo
Canyon is located in San Luis Obispo County, California.
II
By letter dated November 1, 1995, PG&E informed the Commission that
it was in the process of implementing a corporate restructuring that
will result in the creation of a holding company under the temporary
name PG&E Parent Co., Inc. (``Parent Company'') of which PG&E would
become a subsidiary. Under the restructuring, the holders of PG&E
common stock will become holders of common stock of the Parent Company.
PG&E requested, to the extent necessary, the Commission's approval of
the corporate restructuring, pursuant to 10 CFR 50.80. Notice of this
application for approval was published in the Federal Register on April
5, 1996 (61 FR 15314), and an Environmental Assessment and Finding of
No Significant Impact was published in the Federal Register on June 18,
1996 (61 FR 30924).
Under 10 CFR 50.80(a), no license 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 submitted in the letter of November 1, 1995, and other
information before the Commission, the NRC staff has determined that
the restructuring of PG&E will not affect the qualifications of PG&E as
holder of the licenses, and that the transfer of control of the
licenses for HBPP and DCPP, to the extent effected by the restructuring
of PG&E, 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 October 18, 1996.
III
Accordingly, pursuant to Sections 161b, 161i, 161o, and 184 of the
Atomic Energy Act of 1954, as amended, 42 USC 2201(b), 2201(i), 2201(o)
and 2234, and 10 CFR 50.80, it is hereby ordered that the Commission
approves the application regarding the restructuring of PG&E subject to
the following: (1) PG&E 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 PG&E 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 PG&E's consolidated net utility plant, as recorded on PG&E's
books of account; and (2) should the restructuring of PG&E not be
completed by December 31, 1997, this Order shall become null and void,
provided, however, on application and for good cause shown, such date
may be extended.
IV
By November 25, 1996, any person adversely affected by this Order
may file a request for a hearing with respect to issuance of the Order.
Any person requesting a hearing shall set forth with particularity how
that interest is adversely affected by this Order and shall address the
criteria set forth in 10 CFR 2.714(d).
If a hearing is to be held, the Commission will issue an Order
designating the time and place of such hearing.
The issue to be considered at any such hearing shall be whether
this Order should be sustained.
Any request for a hearing must be filed with the Secretary of the
Commission, U.S. Nuclear Regulatory Commission, Washington, DC 20555-
0001, Attention: Docketing and Services Branch, or may be delivered to
11555 Rockville Pike, Rockville, Maryland between 7:45 a.m. and 4:15
p.m.
Federal workdays, by the above date. Copies should be also sent to
the Office of the General Counsel, and to the Director, Office of
Nuclear Reactor Regulation, U.S. Nuclear Regulatory Commission,
Washington, DC 20555, and to Christopher J. Warner, Esquire, Pacific
Gas & Electric Company, Post Office Box 7442, San Francisco, California
94120, attorney for PG&E.
For further details with respect to this Order, see the application
for approval of the corporate restructuring dated November 1, 1995,
which is available for public inspection at the Commission's Public
Document Room, the Gelman Building, 2120 L Street, NW., Washington, DC,
and at the local public document room located at the California
Polytechnic State University, Robert E. Kennedy Library, Government
Documents and Maps Department, San Luis Obispo, California 93407.
Dated at Rockville, Maryland, this 18th day of October 1996.
For the Nuclear Regulatory Commission.
Frank J. Miraglia,
Acting Director, Office of Nuclear Reactor Regulation.
[FR Doc. 96-27293 Filed 10-23-96; 8:45 am]
BILLING CODE 7590-01-P
