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[Federal Register Volume 62, Number 235 (Monday, December 8, 1997)]
[Notices]
[Page 64600]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-32022]

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NUCLEAR REGULATORY COMMISSION

[Docket No. 50-354]

Public Service Electric and Gas Company, Atlantic City Electric 
Company, Hope Creek Generating Station; Notice of Consideration of 
Approval of Application Regarding Proposed Corporate Restructuring

    Notice is hereby given that the U.S. Nuclear Regulatory Commission 
(the Commission) is considering approval, by issuance of an order, 
under 10 CFR 50.80, of the indirect transfer of control of Atlantic 
City Electric Company's (ACE) interest in the Hope Creek Generating 
Station (HCGS) license to the extent effected by a proposed merger of 
Atlantic Energy, Inc. (the parent holding company of ACE) and Delmarva 
Power & Light Company (DP&L), resulting in the formation of a new 
holding company, Conectiv, Inc., under which ACE and DP&L would become 
wholly owned subsidiaries. Atlantic Energy, Inc. will cease to exist. 
Public Service Electric and Gas Company, not involved in the merger, is 
co-holder of Facility Operating License No. NPF-57, along with ACE, 
issued for operation of the HCGS, located in Lower Alloways Creek 
Township, Salem County, New Jersey. An application filed by ACE under 
cover of a letter dated April 30, 1997, from John H. O'Neill, Jr., of 
Shaw, Pittman, Potts & Trowbridge, Counsel for ACE and DP&L, informed 
the Commission of the proposed corporate restructuring.
    According to the proposed plan, there will be no significant change 
in ownership, management, or sources of funds for operation, 
maintenance, or decommissioning of the HCGS due to the corporate 
restructuring. ACE will continue to hold the license, and no direct 
transfer of the license will occur.
    Pursuant to 10 CFR 50.80, the Commission may approve the transfer 
of control of a license after appropriate notice to interested persons. 
Such approval 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 the proposed action, see the 
application filed by ACE under cover of a letter dated April 30, 1997, 
as supplemented November 7, 1997, from John H. O'Neill, Jr., of Shaw, 
Pittman, Potts & Trowbridge (Counsel for ACE and DP&L), 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 Pennsville Public 
Library, 190 S. Broadway, Pennsville, New Jersey.

    Dated at Rockville, Maryland, this 2nd day of December 1997.

    For the Nuclear Regulatory Commission.
John F. Stolz,
Director, Project Directorate I-2, Division of Reactor Projects--I/II, 
Office of Nuclear Reactor Regulation.
[FR Doc. 97-32022 Filed 12-5-97; 8:45 am]
BILLING CODE 7590-01-P
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