[Federal Register Volume 62, Number 73 (Wednesday, April 16, 1997)]
[Notices]
[Page 18658]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-9809]


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NUCLEAR REGULATORY COMMISSION


The Cleveland Electric Illuminating Company, The Toledo Edison 
Company, Duquesne Light Company; Ohio Edison Company, and Pennsylvania 
Power Company; Beaver Valley Power Station, Units 1 and 2; Notice of 
Consideration of Approval of Application Regarding Proposed Corporate 
Restructuring

    Notice is hereby given that the United States Nuclear Regulatory 
Commission (the Commission) is considering approval by issuance of an 
order under 10 CFR 50.80 of an application concerning a proposed merger 
between Centerior Energy Corporation and Ohio Edison Company. Centerior 
Energy Corporation is the parent holding company of The Cleveland 
Electric Illuminating Company and the Toledo Edison Company, which hold 
licenses to possess interests in the Beaver Valley Power Station. Ohio 
Edison Company and its subsidiary Pennsylvania Power Company also hold 
licenses to possess interests in the Beaver Valley Power Station. By 
letter dated December 13, 1996, from The Cleveland Electric 
Illuminating Company, The Toledo Edison Company, Ohio Edison Company 
and Pennsylvania Power Company, through their counsel, the Commission 
was informed that the Centerior Energy Corporation and Ohio Edison 
Company have entered into a merger agreement which provides for the 
formation of a new, single holding company, FirstEnergy Corporation 
(``FirstEnergy''). Under the agreement, The Cleveland Electric 
Illuminating Company, The Toledo Edison Company, and Ohio Edison 
Company will become subsidiaries of FirstEnergy, and Pennsylvania Power 
Company will remain a subsidiary of Ohio Edison Company.
    According to the application, the merger will have no effect on the 
operation of Beaver Valley Power Station or the provisions of its 
operating license. The Cleveland Electric Illuminating Company, The 
Toledo Edison Company, Ohio Edison Company, and Pennsylvania Power 
Company will remain licensees responsible for their possessory 
interests and related obligations. Duquesne Light Company, which is not 
involved in the merger, will continue to operate the Beaver Valley 
Power Station after the merger, as required by the operating license. 
No direct transfer of the license will result from the merger.
    Pursuant to 10 CFR 50.80, the Commission may consent to the 
transfer of control of a license after notice to interested persons. 
Such consent 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 this proposed action, see the 
application from The Cleveland Electric Illuminating Company, The 
Toledo Edison Company, Ohio Edison Company, and Pennsylvania Power 
Company, dated December 13, 1996, submitted through their counsel and 
supplements dated February 12, 14, and 19, 1997. These documents are 
available for public inspection at the Commission's Public Document 
Room, the Gelman Building, 2120 L Street, NW, Washington, DC 20555, and 
at the local public document room located at the B.F. Jones Memorial 
Library, 663 Franklin Avenue, Aliquippa, PA 15001.

    Dated at Rockville, Maryland, this 9th day of April 1997.

    For the Nuclear Regulatory Commission.
Donald S. Brinkman,
Senior Project Manager, Project Directorate I-2, Division of Reactor 
Projects--I/II, Office of Nuclear Reactor Regulation.
[FR Doc. 97-9809 Filed 4-15-97; 8:45 am]
BILLING CODE 7590-01-P