NRC Approves Transfer of Operating License for Oyster Creek to Amergen Energy Company

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	NRC NEWS U. S. NUCLEAR REGULATORY COMMISSION
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No. 00-095

June 8, 2000

NRC APPROVES TRANSFER OF OPERATING LICENSE FOR OYSTER CREEK TO AMERGEN ENERGY COMPANY

The Nuclear Regulatory Commission has approved the transfer of Oyster Creek Nuclear Generating Station's operating license from GPU Nuclear, Inc., and Jersey Central Power & Light Company to AmerGen Energy Company.

Oyster Creek is located near Toms River, New Jersey.

GPU Nuclear, Inc., and Jersey Central Power & Light Company are wholly-owned subsidiaries of GPU, Inc. AmerGen is owned in equal shares by PECO Energy Company and British Energy, Inc.

On November 5, 1999, GPU Nuclear and AmerGen jointly submitted an application to the NRC requesting approval for the license transfer. The key issues considered by the NRC staff included foreign ownership, decommissioning funding, insurance, and AmerGen's technical and financial qualifications.

On January 5, the Nuclear Information Resource Service (NIRS) filed a petition to intervene and request for a hearing, raising questions about AmerGen's financial qualifications, the extent of its nuclear experience, antitrust considerations, decommissioning funding and physical changes to the plant.

On May 3, the Commission ruled that although NIRS had demonstrated standing as an intervenor, it had failed to raise any admissible issues. Separately, the staff concluded that AmerGen is financially qualified to own, operate and decommission Oyster Creek, and technically qualified to operate the plant.

This license transfer review is similar to others conducted by the NRC in conjunction with the acquisition by AmerGen of Three Mile Island Unit 1, in Pennsylvania, and the Clinton nuclear power station in Illinois. The staff is currently reviewing a license transfer request submitted by a subsidiary of AmerGen for the Vermont Yankee nuclear plant.