[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: 97-32018]


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NUCLEAR REGULATORY COMMISSION

[Docket Nos. 50-272 and 50-311]


Public Service Electric and Gas Company; Philadelphia Electric 
Company; Delmarva Power and Electric Company; Atlantic City Electric 
Company; Salem Nuclear Generating Station, Units 1 and 2; 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) and Delmarva Power and Light Company's (DP&L) 
interests in the Salem Nuclear Generating Station (SNGS), Units 1 and 
2, licenses to the extent effected by a proposed merger and 
restructuring of Atlantic Energy, Inc. (the parent holding company of 
ACE) and 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 (PSE&G), Philadelphia Electric Company (PECo), 
DP&L, and ACE are co-holders of Facility Operating Licenses Nos. DPR-70 
and DPR-75, issued for operation of the SNGS, Units 1 and 2, located in 
Lower Alloways Creek Township, Salem County, New Jersey. PSE&G, the 
licensed operator of the facilities, and PECo are not involved in the 
proposed merger and restructuring. An application filed by ACE and DP&L 
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 merger and 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 SNGS, Units 1 and 2, due to the 
corporate restructuring. ACE and DP&L will continue to hold the 
licenses, and no direct transfer of the licenses 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 and DP&L under cover of a letter dated April 
30, 1997, as supplemented November 7, 1997, from John H. O'Neill, Jr., 
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 Salem Free Public 
Library, 112 West Broadway, Salem, 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. 97-32018 Filed 12-5-97; 8:45 am]
BILLING CODE 7590-01-P