94-22483. Pennsylvania Power & Light Company, Allegheny Electric Cooperative, Inc.; Susquehanna Steam Electric Station, Units 1 and 2

[Federal Register Volume 59, Number 175 (Monday, September 12, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-22483]


[[Page Unknown]]

[Federal Register: September 12, 1994]


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NUCLEAR REGULATORY COMMISSION

[Docket Nos. 50-387 and 50-388]

 

Pennsylvania Power & Light Company, Allegheny Electric 
Cooperative, Inc.; Susquehanna Steam Electric Station, Units 1 and 2

    Notice is hereby given that the United States Nuclear Regulatory 
Commission (the Commission) is considering approval under 10 CFR 50.80 
of the proposed corporate restructuring of Pennsylvania Power & Light 
Company (PP&L), the co-owner and licensee of the Susquehanna Steam 
Electric Station, Units 1 and 2 (Susquehanna). By letter dated July 25, 
1994, Robert G. Byram, Senior Vice President-Nuclear of PP&L, informed 
the Commission that the Board of Directors has proposed a corporate 
restructuring plan to be presented at the annual meeting of 
shareholders scheduled for April 26, 1995. If a majority of the 
shareholders approve the plan, PP&L will become a wholly-owned 
subsidiary of a new holding company named PP&L Resources, Inc. 
(Resources). PP&L would remain as holder of the licenses for the 
aforementioned facilities. If the plan is approved, the common stock of 
PP&L will be converted on a share-for-share basis into common stock of 
the holding company, and there will be no effect upon the management, 
operation, and financing of the PP&L nuclear facilities.
    Pursuant to 10 CFR 50.80, the Commission may approve the transfer 
of control of a license, after notice to interested persons. Such 
action is contingent upon the Commission's determination that the 
holder of the license and the transfer of such control is otherwise 
consistent with applicable provisions of law, regulations, and orders 
of the Commission.

    Dated at Rockville, Maryland, this 1st day of September 1994.
Mohan C. Thadani,
Acting Director, Project Directorate I-2, Division of Reactor 
Projects--I/II, Office of Nuclear Reactor Regulation.
[FR Doc. 94-22483 Filed 9-9-94; 8:45 am]
BILLING CODE 7590-01-M