5492 Federal Register / Vol. 62, No. 24 / Wednesday, February 5, 1997 / Notices

presiding Atomic Safety and Licensing

Board that the petition and/or request

should be granted based upon a

balancing of the factors specified in 10

CFR 2.714(a)(1) (i)–(v) and 2.714(d).

For further details with respect to this

action, see the application for

amendment dated January 10, 1997,

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 Cameron Village Regional Library,

1930 Clark Avenue, Raleigh, North

Carolina, 27605.

Dated at Rockville, Maryland, this 28th day

of January 1997.

For the Nuclear Regulatory Commission.

Ngoc B. Le,

Project Manager, Project Directorate II–1,

Division of Reactor Projects—I/II, Office of

Nuclear Reactor Regulation.

[FR Doc. 97–2689 Filed 2–4–97; 8:45 am]

BILLING CODE 7590–01–P

[Docket No. 50–443 (License No. NPF–86)]

North Atlantic Energy Service

Corporation and Great Bay Power

Corporation, (Seabrook Station, Unit

1); Order Approving Application

Regarding the Corporate Restructuring

of Great Bay Power Corporation by

Establishment of a Holding Company

I

Great Bay Power Corporation (Great

Bay) is the holder of a 12.1324-percent

ownership share in Seabrook Station,

Unit No. 1. Its interest in Seabrook

Station, Unit 1, is governed by License

No. NPF–86 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

March 15, 1990, in Docket No. 50–443.

Under this license, only North Atlantic

Energy Service Corporation (North

Atlantic), acting as agent and

representative of 11 joint owners listed

in the license, has the authority to

operate Seabrook Station, Unit 1.

Seabrook Station, Unit 1, is located in

Rockingham County, New Hampshire.

II

By letter dated May 8, 1996, North

Atlantic informed the Commission that

Great Bay was in the process of

implementing a corporate restructuring

that will result in the creation of a

holding company under the name

‘‘Great Bay Holdings Corporation,’’ of

which Great Bay would become a

subsidiary. Under the restructuring, the

holders of Great Bay common stock will

become holders of common stock of

Great Bay Holdings Corporation. North

Atlantic requested 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 November 26,

1996 (61 FR 60121), and an

Environmental Assessment and Finding

of No Significant Impact was published

in the Federal Register on January 22,

1997 (62 FR 3317). Additional

information related to this proposed

restructuring was submitted by Great

Bay through its counsel Shaw, Pittman,

Potts & Trowbridge, by letters dated

October 18 and December 9, 1996.

Under 10 CFR 50.80, 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

letters of May 8 and October 18, 1996,

and other information before the

Commission, the NRC staff has

determined that the restructuring of

Great Bay will not affect the

qualifications of Great Bay as a holder

of the license, and that the transfer of

control of the Seabrook license, to the

extent effected by the restructuring of

Great Bay, 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

January 22, 1997.

III

Accordingly, pursuant to Sections

161b, 161i, 161o, and 184 of the Atomic

Energy Act of 1954, as amended; 42

U.S.C. 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 Great Bay subject to the

following: (1) Great Bay 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 Great Bay 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 Great Bay’s

consolidated net utility plant, as

recorded on Great Bay’s books of

account; and (2) should the

restructuring of Great Bay not be

completed by June 30, 1997, this Order

shall become null and void, provided,

however, on application and for good

cause shown, such date may be

extended.

This order is effective upon issuance.

IV

By February 21, 1997, 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 20555–0001, and to

Lillian M. Cuoco, Esquire, Northeast

Utilities Service Company, Post Office

Box 270, Hartford CT 06141–0270,

attorney for the licensee.

For further details with respect to this

Order, see the application for approval

of the corporate restructuring dated May

8, 1996, and supplement dated October

18, 1996, and December 9, 1996, which

are 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 Exeter

Public Library, Founders Park, Exeter,

NH 03833.

Dated at Rockville, Maryland, this 22nd

day of January 1997.

For the Nuclear Regulatory Commission.

Frank J. Miraglia,

Acting Director, Office of Nuclear Reactor

Regulation.

[FR Doc. 97–2813 Filed 2–4–97; 8:45 am]

BILLING CODE 7590–01–P

[Docket No. 50–443 (License No. NPF–86)]

North Atlantic Energy Service

Corporation and Great Bay Power

Corporation (Seabrook Station, Unit

No. 1); Exemption

I

North Atlantic Energy Service

Corporation (North Atlantic or the