[Federal Register: January 15, 1998 (Volume 63, Number 10)]
[Notices]               
[Page 2436]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr15ja98-104]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 35-26813]

 
Filings Under the Public Utility Holding Company Act of 1935, as 
Amended (``Act'')

January 9, 1998.
    Notice is hereby given that the following filing(s) has/have been 
made with the Commission pursuant to provisions of the Act and rules 
promulgated thereunder. All interested persons are referred to the 
application(s) and/or declaration(s) for complete statements of the 
proposed transaction(s) summarized below. The application(s) and/or 
declaration(s) and any amendments thereto is/are available for public 
inspection through the Commission's Office of Public Reference.
    Interested persons wishing to comment or request a hearing on the 
application(s) and/or declaration(s) should submit their views in 
writing by February 2, 1998, to the Secretary, Securities and Exchange 
Commission, Washington, D.C. 20549, and serve a copy on the relevant 
applicant(s) and/or declarant(s) at the address(es) specified below. 
Proof of serve (by affidavit or, in case of an attorney at law, by 
certificate) should be filed with the request. Any request for hearing 
shall identify specifically the issues of fact or law that are 
disputed. A person who so requests will be notified of any hearing, if 
ordered, and will receive a copy of any notice or order issued in the 
matter. After said date, the application(s) and/or declaration(s), as 
filed or as amended, may be granted and/or permitted to become 
effective.

The Connecticut Yankee Atomic Power Company (70-9101)

    The Connecticut Yankee Atomic Power Company (``CY''), 107 Selden 
Street, Berlin, Connecticut 06337, a utility subsidiary of The New 
England Electric System and Northeast Utilities, each a registered 
holding company, has filed an application-declaration under sections 
12(f) and 13(b) of the Act and rules 54, 87, 90 and 91 under the Act.
    On December 4, 1996, the board of directors of CY voted unanimously 
to cease permanently the production of power at its nuclear plant. In 
connection with the cessation of production, CY seeks authority through 
December 31, 2002 for an exception from the cost provisions of section 
13(b) to sell certain of its remaining non-seller produced goods to its 
associate companies at fair market value. These goods generally include 
equipment, including the simulator, materials and supplies inventory, 
office supplies, and furniture. In addition, CY seeks authority through 
December 31, 2002 for an exception from the cost provisions of section 
13(b) to sell to its associate companies at fair market value credits 
it has received for the enrichment process performed on previously 
purchased nuclear fuel. Associate companies to whom the goods and/or 
credits may be sold could include, but would not be limited to, 
Northeast Nuclear Energy Company.
    Based on its review of sales of similar items, including sales by 
other utilities implementing decommissioning plans for nuclear plants, 
CY expects that these goods and credits have a fair market value that 
is substantially below their book cost to CY. CY believes that a 
requirement prohibiting the sale of these assets to associate companies 
at competitive prices will substantially limit the pool of potential 
bidders and hinder its ability to wind down its business activities 
economically.

    For the Commission, by the Division of Investment Management, 
pursuant to delegated authority.
Jonathan G. Katz,
Secretary.
[FR Doc. 98-1039 Filed 1-14-98; 8:45 am]
BILLING CODE 8010-01-M