45086 Federal Register / Vol. 73, No. 149 / Friday, August 1, 2008 / Notices 

pendency of a hearing, the staff is 

expected to promptly proceed with the 

approval or denial of license transfer 

requests consistent with the staff’s 

findings in its safety evaluation. Notice 

of the staff’s action shall be promptly 

transmitted to the presiding officer and 

parties to the proceeding. Commission 

action on the pending hearing request is 

being handled independently of this 

action. 

Also, an intervenor from Oswego, 

New York, submitted two letters to the 

Commission with public comments 

dated January 21, 2008, along with an 

electronic transmission containing 

public comments dated January 27, 

2008. The public comments are 

addressed by the NRC’s safety 

evaluation dated July 28, 2008. 

Pursuant to 10 CFR 50.80(a), no 

license, or any right thereunder, 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 in the application as 

supplemented and other information 

before the Commission, and relying 

upon the representations and 

agreements in the application as 

supplemented, the NRC staff concludes 

that the proposed indirect transfer of 

control of the license held by ENVermont Yankee to Enexus, as described 

herein, will not affect the qualifications 

of EN-Vermont Yankee as holder of the 

Vermont Yankee license. The indirect 

transfer of control of the license is 

otherwise consistent with applicable 

provisions of law, regulations, and 

orders issued by the NRC. Furthermore, 

the NRC staff concludes that the 

proposed corporate restructuring 

involving new intermediate and 

ultimate parent companies over ENO, as 

described herein, will not affect the 

qualifications of ENO as holder of the 

Vermont Yankee license. The indirect 

transfer of control of the license as held 

by ENO, to the extent affected by the 

proposed restructuring, is otherwise 

consistent with applicable provisions of 

law, regulations, and orders issued by 

the Commission. 

The NRC staff concludes that the 

conversion of Entergy Nuclear 

Operations, Inc. to EquaGen Nuclear 

LLC would not constitute a direct 

transfer of the licenses to the extent held 

by ENO. Therefore, no consent to the 

proposed conversion is necessary. 

The findings set forth above are 

supported by the NRC’s safety 

evaluation dated July 28, 2008. 

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 application regarding 

the indirect license transfer discussed 

above related to the proposed corporate 

restructuring and establishment of 

Enexus is approved, subject to the 

following conditions: 

1. EN-Vermont Yankee shall enter 

into the $700 million Support 

Agreement with Enexus Energy 

Corporation as described in the 

application, no later than the time the 

proposed transactions and indirect 

license transfer occurs. EN-Vermont 

Yankee shall take no action to cause 

Enexus Energy Corporation, or its 

successors and assigns, to void, cancel, 

or modify the Support Agreement or 

cause it to fail to perform, or impair its 

performance under the Support 

Agreement, without prior written 

consent of the NRC. The Support 

Agreement may not be amended or 

modified without 30 days prior written 

notice to the Director of the Office of 

Nuclear Reactor Regulation or his 

designee. An executed copy of the 

Support Agreement shall be submitted 

to the NRC no later than 30 days after 

the completion of the proposed 

transactions and the indirect license 

transfer. EN-Vermont Yankee shall 

inform the NRC in writing anytime it 

draws upon the Support Agreement. 

2. The ten separate support guarantees 

from various Entergy subsidiaries, 

which total $315 million, including the 

support guarantee relating to Vermont 

Yankee, may be revoked when, and 

conditioned upon, implementation of 

the new $700 million Support 

Agreement at the time the proposed 

restructuring and indirect license 

transfer are completed. 

3. Should the proposed corporate 

restructuring and establishment of 

Enexus not be completed within one 

year from the date of this Order, this 

Order shall become null and void, 

provided, however, upon written 

application and good cause shown, such 

date may be extended by Order. 

This Order is effective upon issuance. 

For further details with respect to this 

Order, see the application dated July 30, 

2007, as supplemented by letters dated 

October 31, and December 5, 2007, and 

January 24, March 17, April 22, and 

May 2, 2008, and the NRC’s safety 

evaluation dated July 28, 2008, which 

are available for public inspection at the 

Commission’s Public Document Room 

(PDR), located at One White Flint North, 

Public File Area 01 F21, 11555 

Rockville Pike (first floor), Rockville, 

Maryland and accessible electronically 

from the Agencywide Documents 

Access and Management System 

(ADAMS) Public Electronic Reading 

Room on the Internet at the NRC Web 

site, http://www.nrc.gov/reading-rm/ 

adams.html. Persons who do not have 

access to ADAMS or who encounter 

problems in accessing the documents 

located in ADAMS, should contact the 

NRC PDR Reference staff by telephone 

at 1–800–397–4209, 301–415–4737, or 

by e-mail to pdr@nrc.gov. 

Dated at Rockville, Maryland this 28th day 

of July 2008. 

For the Nuclear Regulatory Commission. 

Timothy J. McGinty, 

Acting Director, Division of Operating Reactor 

Licensing, Office of Nuclear Reactor 

Regulation. 

[FR Doc. E8–17678 Filed 7–31–08; 8:45 am] 

BILLING CODE 7590–01–P 

NUCLEAR REGULATORY 

COMMISSION 

[Docket Nos. 50–155 and 72–43] 

In the Matter of Entergy Nuclear 

Operations, Inc.; Entergy Nuclear 

Palisades, LLC (Big Rock Point); Order 

Approving Indirect Transfer of Facility 

Operating License 

I 

Entergy Nuclear Operations, Inc. 

(ENO) and Entergy Nuclear Palisades, 

LLC (EN-Palisades) are co-holders of the 

Facility Operating License, No. DPR–06, 

which authorizes the possession, use, 

and operation of Big Rock Point. Big 

Rock Point is an independent spent fuel 

storage installation (ISFSI) that is owned 

by EN-Palisades and operated by ENO. 

The facility is located in Charlevoix 

County, Michigan. 

II 

By application dated July 30, 2007, as 

supplemented by letters dated October 

31, and December 5, 2007, and January 

24, March 17, April 22, and May 2, 

2008, ENO, acting on behalf of itself and 

EN-Palisades, requested that the U.S. 

Nuclear Regulatory Commission (NRC, 

the Commission), pursuant to Section 

50.80 of Title 10 of the Code of Federal 

Regulations (10 CFR), consent to the 

proposed indirect transfer of control of 

the Big Rock Point license, including 

the general license for the ISFSI. 

EN-Palisades is currently a direct 

wholly owned subsidiary of Entergy 

Nuclear Midwest Investment Company, 

LLC which, in turn, is a direct wholly 

owned subsidiary of Entergy Nuclear 

Holding Company which, in turn, is a 

direct wholly owned subsidiary of 

Entergy Corporation. Therefore, under 

the current corporate structure, Entergy 

mstockstill on PROD1PC66 with NOTICES

Federal Register / Vol. 73, No. 149 / Friday, August 1, 2008 / Notices 45087 

Corporation is the indirect owner of 100 

percent of EN-Palisades. 

Under the proposed corporate 

restructuring, a new holding company, 

Enexus Energy Corporation (Enexus), 

will be created. Initially, the 

shareholders of Entergy Corporation 

will separately own the shares of 

Enexus and, as such, Enexus will be 

owned by the public. Entergy Nuclear 

Holding Company will become a direct 

wholly owned subsidiary of Enexus. 

Accordingly, following the corporate 

restructuring, Enexus will acquire 

indirect control of 100 percent of ENPalisades. 

ENO, the operator of the Big Rock 

Point facility, is currently a direct 

wholly owned subsidiary of Entergy 

Nuclear Holding Company #2 which, in 

turn, is a direct wholly owned 

subsidiary of Entergy Corporation. 

Therefore, Entergy Corporation is 

currently the indirect owner of 100 

percent of ENO. 

Under the proposed corporate 

restructuring, Entergy Nuclear Holding 

Company #2 will be eliminated and 

ENO will become a direct subsidiary of 

a new parent company called EquaGen, 

LLC. EquaGen, LLC will be owned in 

equal shares by two new intermediate 

holding companies as follows. Entergy 

EquaGen, Inc. is being created as a 

direct subsidiary of Entergy Corporation 

and will own 50 percent of EquaGen, 

LLC. Similarly, Enexus EquaGen, LLC is 

being created as a direct subsidiary of 

Enexus and will also own 50 percent of 

EquaGen, LLC. Accordingly, following 

the corporate restructuring, Entergy 

Corporation and Enexus will each have 

indirect control of 50 percent of ENO. 

Finally, ENO will be converted from 

a corporation to a limited liability 

company and its name will be changed 

from Entergy Nuclear Operations, Inc. to 

EquaGen Nuclear, LLC. Under Delaware 

law, EquaGen Nuclear, LLC will assume 

all of the rights and responsibilities of 

ENO, and it will be the same company 

(legal entity) both before and after the 

conversion and name change. Also, ENPalisades will undergo a name change to 

become Enexus Nuclear Palisades, LLC. 

The staff understands that ENO will 

request an administrative license 

amendment to conform the Big Rock 

Point license in the near future. 

Notice of the request for approval and 

an opportunity for a hearing was 

published in the Federal Register on 

January 16, 2008 (73 FR 2956). By 

petition dated February 5, 2008, Locals 

369 and 590, Utility Workers Union of 

America (UWUA), American Federation 

of Labor-Congress of Industrial 

Organization, representing plant 

workers at the Pilgrim Nuclear Power 

Station located in Plymouth, 

Massachusetts, responded to the 

Federal Register notice and requested a 

hearing and leave to intervene as a party 

in the Big Rock Point proceeding. On 

June 12, 2008, Local 369 filed a notice 

of withdrawal of its petition to 

intervene. The notice of withdrawal did 

not apply to Local 590. 

The request for a hearing is currently 

pending before the Commission. 

Pursuant to 10 CFR 2.1316, during the 

pendency of a hearing, the staff is 

expected to promptly proceed with the 

approval or denial of license transfer 

requests consistent with the staff’s 

findings in its safety evaluation. Notice 

of the staff’s action shall be promptly 

transmitted to the presiding officer and 

parties to the proceeding. Commission 

action on the pending hearing requests 

is being handled independently of this 

action. 

Also, an intervenor from Oswego, 

New York, submitted two letters to the 

Commission with public comments 

dated January 21, 2008. The public 

comments are addressed by the NRC’s 

safety evaluation dated July 28, 2008. 

Pursuant to 10 CFR 50.80(a), no 

license, or any right thereunder, 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 in the application as 

supplemented and other information 

before the Commission, and relying 

upon the representations and 

agreements in the application as 

supplemented, the NRC staff concludes 

that the proposed indirect transfer of 

control of the license held by ENPalisades to Enexus, as described 

herein, will not affect the qualifications 

of EN-Palisades as holder of the Big 

Rock Point license. The indirect transfer 

of control of the license is otherwise 

consistent with applicable provisions of 

law, regulations, and orders issued by 

the NRC. Furthermore, the NRC staff 

concludes that the proposed corporate 

restructuring involving new 

intermediate and ultimate parent 

companies over ENO, as described 

herein, will not affect the qualifications 

of ENO as holder of the Big Rock Point 

license. The indirect transfer of control 

of the license as held by ENO, to the 

extent affected by the proposed 

restructuring, is otherwise consistent 

with applicable provisions of law, 

regulations, and orders issued by the 

Commission. 

The NRC staff concludes that the 

conversion of Entergy Nuclear 

Operations, Inc. to EquaGen Nuclear, 

LLC would not constitute a direct 

transfer of the licenses to the extent held 

by ENO. Therefore, no consent to the 

proposed conversion is necessary. 

The findings set forth above are 

supported by the NRC’s safety 

evaluation dated July 28, 2008. 

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 application regarding 

the indirect license transfer discussed 

above related to the proposed corporate 

restructuring and establishment of 

Enexus is approved, subject to the 

following conditions: 

1. EN-Palisades shall enter into the 

$700 million Support Agreement with 

Enexus Energy Corporation as described 

in the application, no later than the time 

the proposed transactions and indirect 

license transfer occurs. EN-Palisades 

shall take no action to cause Enexus 

Energy Corporation, or its successors 

and assigns, to void, cancel, or modify 

the Support Agreement or cause it to fail 

to perform, or impair its performance 

under the Support Agreement, without 

prior written consent of the NRC. The 

Support Agreement may not be 

amended or modified without 30 days 

prior written notice to the Director of 

the Office of Nuclear Material Safety 

and Safeguards or his designee. An 

executed copy of the Support 

Agreement shall be submitted to the 

NRC no later than 30 days after the 

completion of the proposed transactions 

and the indirect license transfer. ENPalisades shall inform the NRC in 

writing anytime it draws upon the 

Support Agreement. 

2. The ten separate support guarantees 

from various Entergy subsidiaries, 

which total $315 million, including the 

support guarantee relating to Big Rock 

Point, may be revoked when, and 

conditioned upon, implementation of 

the new $700 million Support 

Agreement at the time the proposed 

restructuring and indirect license 

transfer are completed. 

3. The Parent Company Guarantee 

may be terminated when, and 

conditioned upon, replacement with an 

alternative financial assurance 

mechanism that is acceptable under the 

terms of 10 CFR 50.75(e)(1) at the time 

the proposed restructuring and indirect 

license transfer are completed. 

4. Should the proposed corporate 

restructuring and establishment of 

Enexus not be completed within one 

year from the date of this Order, this 

Order shall become null and void, 

provided, however, upon written 

mstockstill on PROD1PC66 with NOTICES

45088 Federal Register / Vol. 73, No. 149 / Friday, August 1, 2008 / Notices 

application and good cause shown, such 

date may be extended by Order. 

This Order is effective upon issuance. 

For further details with respect to this 

Order, see the application dated July 30, 

2007, as supplemented by letters dated 

October 31, and December 5, 2007, and 

January 24, March 17, April 22, and 

May 2, 2008, and the NRC’s safety 

evaluation dated July 28, 2008, which 

are available for public inspection at the 

Commission’s Public Document Room 

(PDR), located at One White Flint North, 

Public File Area 01 F21, 11555 

Rockville Pike (first floor), Rockville, 

Maryland, and accessible electronically 

from the Agencywide Documents 

Access and Management System 

(ADAMS) Public Electronic Reading 

Room on the Internet at the NRC Web 

site, http://www.nrc.gov/reading-rm/ 

adams.html. Persons who do not have 

access to ADAMS or who encounter 

problems in accessing the documents 

located in ADAMS, should contact the 

NRC PDR Reference staff by telephone 

at 1–800–397–4209, 301–415–4737, or 

by e-mail to pdr@nrc.gov. 

Dated at Rockville, Maryland, this 28th day 

of July 2008. 

For the Nuclear Regulatory Commission. 

E. William Brach, 

Director, Division of Spent Fuel Storage and 

Transportation, Office of Nuclear Material 

Safety and Safeguards. 

[FR Doc. E8–17687 Filed 7–31–08; 8:45 am] 

BILLING CODE 7590–01–P 

NUCLEAR REGULATORY 

COMMISSION 

[Docket Nos. 50–333 and 72–12] 

In the Matter of Entergy Nuclear 

Operations, Inc.; Entergy Nuclear 

Fitzpatrick, LLC (James A. FitzPatrick 

Nuclear Power Plant); Order Approving 

Indirect Transfer of Facility Operating 

License 

I 

Entergy Nuclear Operations, Inc. 

(ENO) and Entergy Nuclear FitzPatrick, 

LLC (EN-FitzPatrick) are co-holders of 

the Facility Operating License, No. 

DPR–59, which authorizes the 

possession, use, and operation of the 

James A. FitzPatrick Nuclear Power 

Plant (FitzPatrick). FitzPatrick is a 

boiling water nuclear reactor that is 

owned by EN-FitzPatrick and operated 

by ENO. The facility is located in 

Scriba, Oswego County, New York. 

II 

By application dated July 30, 2007, as 

supplemented by letters dated October 

31, and December 5, 2007, and January 

24, March 17, April 22, and May 2, 

2008, ENO, acting on behalf of itself and 

EN-FitzPatrick, requested that the U.S. 

Nuclear Regulatory Commission (NRC, 

the Commission), pursuant to Section 

50.80 of Title 10 of the Code of Federal 

Regulations (10 CFR), consent to the 

proposed indirect transfer of control of 

the FitzPatrick license, including the 

general license for the independent 

spent fuel storage installation. 

EN-FitzPatrick is currently a direct 

wholly owned subsidiary of Entergy 

Nuclear New York Investment Company 

1 which, in turn, is a direct wholly 

owned subsidiary of Entergy Nuclear 

Holding Company #1. Seventy-five 

percent of Entergy Nuclear Holding 

Company #1 is directly owned by 

Entergy Corporation while the 

remaining 25 percent is directly owned 

by Entergy Global, LLC. Entergy Global, 

LLC is a direct wholly owned subsidiary 

of Entergy International Holdings LTD 

which, in turn, is a direct wholly owned 

subsidiary of Entergy Corporation. 

Therefore, under the current corporate 

structure, Entergy Corporation is the 

indirect owner of 100 percent of ENFitzPatrick. 

Under the proposed corporate 

restructuring, a new holding company, 

Enexus Energy Corporation (Enexus), 

will be created. Initially, the 

shareholders of Entergy Corporation 

will separately own the shares of 

Enexus and, as such, Enexus will be 

owned by the public. Entergy Nuclear 

Holding Company #1 will become a 

direct wholly owned subsidiary of 

Enexus. Entergy Global, LLC, Entergy 

International Holdings LTD, and 

Entergy Nuclear New York Investment 

Company 1 will be eliminated. 

Accordingly, following the corporate 

restructuring, Enexus will acquire 

indirect control of 100 percent of ENFitzPatrick. 

ENO, the operator of the FitzPatrick 

facility, is currently a direct wholly 

owned subsidiary of Entergy Nuclear 

Holding Company #2 which, in turn, is 

a direct wholly owned subsidiary of 

Entergy Corporation. Therefore, Entergy 

Corporation is currently the indirect 

owner of 100 percent of ENO. 

Under the proposed corporate 

restructuring, Entergy Nuclear Holding 

Company #2 will be eliminated and 

ENO will become a direct subsidiary of 

a new parent company called EquaGen, 

LLC. EquaGen, LLC will be owned in 

equal shares by two new intermediate 

holding companies as follows. Entergy 

EquaGen, Inc. is being created as a 

direct subsidiary of Entergy Corporation 

and will own 50 percent of EquaGen, 

LLC. Similarly, Enexus EquaGen, LLC is 

being created as a direct subsidiary of 

Enexus and will also own 50 percent of 

EquaGen, LLC. Accordingly, following 

the corporate restructuring, Entergy 

Corporation and Enexus will each have 

indirect control of 50 percent of ENO. 

Finally, ENO will be converted from 

a corporation to a limited liability 

company and its name will be changed 

from Entergy Nuclear Operations, Inc. to 

EquaGen Nuclear, LLC. Under Delaware 

law, EquaGen Nuclear, LLC will assume 

all of the rights and responsibilities of 

ENO, and it will be the same company 

(legal entity) both before and after the 

conversion and name change. Also, ENFitzPatrick will undergo a name change 

to become Enexus Nuclear FitzPatrick, 

LLC. The staff understands that ENO 

will request an administrative license 

amendment to conform the FitzPatrick 

license in the near future. 

Notice of the requests for approval 

and an opportunity for a hearing was 

published in the Federal Register on 

January 16, 2008 (73 FR 2950). By 

petition dated February 5, 2008, Locals 

369 and 590, Utility Workers Union of 

America (UWUA), American Federation 

of Labor-Congress of Industrial 

Organization, representing plant 

workers at the Pilgrim Nuclear Power 

Station located in Plymouth, 

Massachusetts, responded to the 

Federal Register notice and requested a 

hearing and leave to intervene as a party 

in the FitzPatrick proceeding. On June 

12, 2008, Local 369 filed a notice of 

withdrawal of its petition to intervene. 

The notice of withdrawal did not apply 

to Local 590. 

The request for a hearing is currently 

pending before the Commission. 

Pursuant to 10 CFR 2.1316, during the 

pendency of a hearing, the staff is 

expected to promptly proceed with the 

approval or denial of license transfer 

requests consistent with the staff’s 

findings in its safety evaluation. Notice 

of the staff’s action shall be promptly 

transmitted to the presiding officer and 

parties to the proceeding. Commission 

action on the pending hearing requests 

is being handled independently of this 

action. 

Pursuant to 10 CFR 50.80(a), no 

license, or any right thereunder, shall be 

transferred, directly or indirectly, 

through transfer of control of the 

license, unless the Commission gives its 

consent in writing. Upon review of the 

information in the application as 

supplemented and other information 

before the Commission, and relying 

upon the representations and 

agreements in the application as 

supplemented, the NRC staff concludes 

that the proposed indirect transfer of 

control of the license held by ENFitzPatrick to Enexus, as described 

mstockstill on PROD1PC66 with NOTICES