[Federal Register Volume 63, Number 184 (Wednesday, September 23, 1998)]
[Notices]
[Pages 50931-50932]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-25415]
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NUCLEAR REGULATORY COMMISSION
[Docket Nos. 50-220 and 50-410]
Niagara Mohawk Power Corporation Nine Mile Point Nuclear Station,
Unit Nos. 1 and 2; Environmental Assessment and Finding of No
Significant Impact
The U.S. Nuclear Regulatory Commission (the Commission) is
considering the issuance of an Order approving, under 10 CFR 50.80, an
application regarding an indirect transfer of control of the operating
licenses for Nine Mile Point Nuclear Station, Unit Nos. 1 and 2 (NMP1
and NMP2, or collectively, the facility) to the extent held by Niagara
Mohawk Power Corporation (NMPC). The transfer would be to a New York
corporation, Niagara Mohawk Holdings, Inc., to be created as a holding
company over NMPC in accordance with a Settlement Agreement reached
with the New York Public Service Commission (PSC Case Nos. 94-E-0098
and 94-E-0099), dated October 10, 1997, and revised March 19, 1998.
NMPC is licensed by the Commission to possess, maintain, and operate
both NMP1 and NMP2. NMPC fully owns NMP1 and is a 41-percent co-owner
of NMP2. The facility is located in Scriba, New York.
Environmental Assessment
Identification of the Proposed Action:
The proposed action would consent to the indirect transfer of
control of the licenses to the extent effected by NMPC becoming a
subsidiary of the newly formed holding company in connection with a
proposed plan of restructuring. Under the restructuring plan, each
share of NMPC's common stock would be exchanged for one new share of
common stock of the holding company. NMPC's outstanding preferred stock
would not be exchanged. Under this restructuring, NMPC would divest all
of its hydro and fossil generation assets by auction, but would retain
its nuclear assets, and would continue to be an ``electric utility'' as
defined in 10 CFR 50.2 engaged in the transmission, distribution and,
through NMP1 and NMP2, the generation of electricity. NMPC would
continue to be the owner of NMP1 and a co-owner of NMP2 and would
continue to operate both NMP1 and NMP2. No direct transfer of the
operating licenses or ownership interests in the facility would result
from the proposed restructuring. The transaction would not involve any
change in the responsibility for nuclear operations within NMPC.
Officer responsibilities at the holding company level would be
primarily administrative and financial in nature and would not involve
operational matters related to NMP1 or NMP2. No NMPC nuclear management
positions would be changed as a result of the corporate restructuring.
The proposed action is in accordance with NMPC's application submitted
under a cover letter dated July 21, 1998.
The Need for the Proposed Action:
The proposed action is required to enable NMPC to restructure as
described above.
Environmental Impacts of the Proposed Action:
The Commission has completed its evaluation of the proposed
corporate restructuring and concludes that it is an administrative
action unrelated to plant operation; therefore, there will be no
resulting physical or operational changes to the facility. The
corporate restructuring will not affect the qualifications or
organizational affiliation of the personnel who operate and maintain
the facility.
The proposed action will not increase the probability or
consequences of accidents, no changes are being made in the types of
any effluents that may be released offsite, and there is no significant
increase in occupational or offsite radiation exposure. Accordingly,
the Commission concludes that there are no significant radiological
environmental impacts associated with the proposed action.
With regard to potential nonradiological impacts, the restructuring
will not affect nonradiological plant effluents and will have no other
nonradiological environmental impact.
Accordingly, the Commission concludes that there are no significant
environmental impacts associated with the proposed action.
Alternatives to the Proposed Action:
Since the Commission has concluded there are no significant
environmental impacts that will result from the proposed action, any
alternatives with equal or greater environmental impact need not be
evaluated.
[[Page 50932]]
As an alternative to the proposed action, the staff considered
denial of the proposed action. Denial of the application would result
in no change in current environmental impacts. The environmental
impacts of the proposed action and the alternative action are similar.
Alternative Use of Resources:
This action does not involve the use of any resources not
previously considered in the Final Environmental Statements Related to
the Operation of Nine Mile Point Nuclear Station, Unit No. 1 dated
January 1974 (39 Federal Register 3309, dated January 25, 1974), or in
the Final Environmental Statements Related to the Operation of Nine
Mile Point Nuclear Station, Unit No. 2, (NUREG-1085) dated May 1985.
Agencies and Persons Contacted:
In accordance with its stated policy, on September 10, 1998, the
staff consulted with the New York State official, Mr. Jack Spath,
regarding the environmental impact of the proposed action. The State
official had no comments.
Finding of No Significant Impact
Based upon the environmental assessment, the Commission concludes
that the proposed action will not have a significant effect on the
quality of the human environment. Accordingly, the Commission has
determined not to prepare an environmental impact statement for the
proposed action.
For further details with respect to the proposed action, see NMPC's
application dated July 21, 1998, 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 Reference and Documents Department,
Penfield Library, State University of New York, Oswego, New York 13126.
Dated at Rockville, Maryland, this 14th day of September 1998.
For the Nuclear Regulatory Commission.
S. Singh Bajwa,
Director, Project Directorate I-1, Division of Reactor Projects--I/II,
Office of Nuclear Reactor Regulation.
[FR Doc. 98-25415 Filed 9-22-98; 8:45 am]
BILLING CODE 7590-01-P
