[Federal Register Volume 62, Number 73 (Wednesday, April 16, 1997)]
[Notices]
[Page 18658]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-9809]
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NUCLEAR REGULATORY COMMISSION
The Cleveland Electric Illuminating Company, The Toledo Edison
Company, Duquesne Light Company; Ohio Edison Company, and Pennsylvania
Power Company; Beaver Valley Power Station, Units 1 and 2; Notice of
Consideration of Approval of Application Regarding Proposed Corporate
Restructuring
Notice is hereby given that the United States Nuclear Regulatory
Commission (the Commission) is considering approval by issuance of an
order under 10 CFR 50.80 of an application concerning a proposed merger
between Centerior Energy Corporation and Ohio Edison Company. Centerior
Energy Corporation is the parent holding company of The Cleveland
Electric Illuminating Company and the Toledo Edison Company, which hold
licenses to possess interests in the Beaver Valley Power Station. Ohio
Edison Company and its subsidiary Pennsylvania Power Company also hold
licenses to possess interests in the Beaver Valley Power Station. By
letter dated December 13, 1996, from The Cleveland Electric
Illuminating Company, The Toledo Edison Company, Ohio Edison Company
and Pennsylvania Power Company, through their counsel, the Commission
was informed that the Centerior Energy Corporation and Ohio Edison
Company have entered into a merger agreement which provides for the
formation of a new, single holding company, FirstEnergy Corporation
(``FirstEnergy''). Under the agreement, The Cleveland Electric
Illuminating Company, The Toledo Edison Company, and Ohio Edison
Company will become subsidiaries of FirstEnergy, and Pennsylvania Power
Company will remain a subsidiary of Ohio Edison Company.
According to the application, the merger will have no effect on the
operation of Beaver Valley Power Station or the provisions of its
operating license. The Cleveland Electric Illuminating Company, The
Toledo Edison Company, Ohio Edison Company, and Pennsylvania Power
Company will remain licensees responsible for their possessory
interests and related obligations. Duquesne Light Company, which is not
involved in the merger, will continue to operate the Beaver Valley
Power Station after the merger, as required by the operating license.
No direct transfer of the license will result from the merger.
Pursuant to 10 CFR 50.80, the Commission may consent to the
transfer of control of a license after notice to interested persons.
Such consent is contingent upon the Commission's determination that the
holder of the license following the transfer is qualified to hold the
license and that the transfer is otherwise consistent with applicable
provisions of law, regulations, and orders of the Commission.
For further details with respect to this proposed action, see the
application from The Cleveland Electric Illuminating Company, The
Toledo Edison Company, Ohio Edison Company, and Pennsylvania Power
Company, dated December 13, 1996, submitted through their counsel and
supplements dated February 12, 14, and 19, 1997. These documents are
available for public inspection at the Commission's Public Document
Room, the Gelman Building, 2120 L Street, NW, Washington, DC 20555, and
at the local public document room located at the B.F. Jones Memorial
Library, 663 Franklin Avenue, Aliquippa, PA 15001.
Dated at Rockville, Maryland, this 9th day of April 1997.
For the Nuclear Regulatory Commission.
Donald S. Brinkman,
Senior Project Manager, Project Directorate I-2, Division of Reactor
Projects--I/II, Office of Nuclear Reactor Regulation.
[FR Doc. 97-9809 Filed 4-15-97; 8:45 am]
BILLING CODE 7590-01-P
