NRC APPROVES TRANSFER OF OPERATING LICENSES FOR MILLSTONE UNITS 1, 2 AND 3

The Nuclear Regulatory Commission has approved the transfer of operating licenses for the Millstone nuclear power plant Units 1, 2 and 3 to Dominion Nuclear Connecticut, Inc.

The licenses had been held by Northeast Nuclear Energy Co., which operated Units 2 and 3, in New London County, Ct. Unit 1 was permanently shut down in 1998.

Dominion Nuclear Connecticut, Inc., is an indirect subsidiary of Dominion Energy, which is in turn owned by Dominion Resources, Inc. Dominion Resources, Inc. is headquartered in Richmond, Virginia, and is the parent corporation of Virginia Power, which operates the Surry and North Anna nuclear power plants.

On August 31, 2000, Northeast Nuclear Energy Co. and Dominion Nuclear Connecticut, Inc., submitted an application to the NRC requesting approval for the license transfer. The key issues considered by the NRC technical staff included decommissioning funding, insurance and Dominion's technical and financial qualifications.

Notice of the request for approval and for an opportunity for a hearing was published in the Federal Register on October 24, 2000. The Commission received no comments or requests for a hearing.

NRC's approval becomes effective immediately, but the actual transfer of ownership will occur on a date mutually agreeable to Northeast Nuclear Energy Co. and Dominion.

Dominion will be the sole owner of, and authorized to maintain Millstone Unit 1. It will be the sole owner and operator of Millstone Unit 2, and will own 93 percent and be the sole operator of Unit 3. Central Vermont Public Service Corp. and Massachusetts Municipal Wholesale Electric Company, which also own portions of Millstone Unit 3, are not involved in the license transfers.

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Thursday, February 22, 2007