[Federal Register: April 24, 1998 (Volume 63, Number 79)]
[Notices]               
[Page 20434-20435]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr24ap98-106]

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NUCLEAR REGULATORY COMMISSION

[Docket No. 50-423]

 
Central Maine Power Company; Millstone Nuclear Power Station, 
Unit 3, Notice of Consideration of Issuance of an Order Regarding 
Restructuring of Central Maine Power Company

    Notice is hereby given that the U.S. Nuclear Regulatory Commission 
(the Commission) is considering the issuance of an Order approving, 
under Title 10 of the Code of Federal Regulations (10 CFR) Section 
50.80, an application regarding the proposed corporate restructuring of 
Central Maine Power Company (CMP), which holds a partial ownership 
interest in Millstone Nuclear Power Station, Unit 3. By application 
dated March 4,1998, CMP, by and through its counsel, Morgan, Lewis, and 
Bockius, informed the Commission that it is proposing to become a 
wholly owned subsidiary of a newly created holding company, HoldCo, 
which will be renamed later. Northeast Nuclear Energy Company will 
remain the licensed operator of Millstone Unit 3 and is not involved in 
the transaction. No direct transfer of the license or any interest 
therein will occur. Under the restructuring, the holders of CMP common 
stock will become the holders of the common stock of the holding 
company. After the restructuring, CMP will continue to be a public 
utility providing the same utility services as it did immediately prior 
to the restructuring, and will continue to be an ``electric utility'' 
under Commission regulations. According to the application, there will 
be no effect on the management, or sources of funds for operation, 
maintenance, or decommissioning, of

[[Page 20435]]

Millstone Unit 3 as a result of the corporate restructuring.
    Pursuant to 10 CFR 50.80, the Commission may approve the transfer 
of control of a license after 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 this proposed action, see the 
application dated March 4, 1998. This document 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 Learning Resources Center, Three Rivers 
Community-Technical College, 574 New London Turnpike, Norwich, 
Connecticut, and at the Waterford Library, ATTN: Vince Juliano, 49 Rope 
Ferry Road, Waterford, Connecticut.

    Dated at Rockville, Maryland, this 20th day of April 1998.

    For the Nuclear Regulatory Commission.
Phillip F. McKee,
Deputy Director for Licensing, Special Projects Office, Office of 
Nuclear Reactor Regulation.
[FR Doc. 98-10926 Filed 4-23-98; 8:45 am]
BILLING CODE 7590-01-M