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Financial Information Requirements for Applications To Renew or Extend the Term of an Operating License for a Power Reactor
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[Federal Register: June 4, 2002 (Volume 67, Number 107)]
[Proposed Rules]
[Page 38427-38431]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr04jn02-22]
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Proposed Rules
Federal Register
________________________________________________________________________
This section of the FEDERAL REGISTER contains notices to the public of
the proposed issuance of rules and regulations. The purpose of these
notices is to give interested persons an opportunity to participate in
the rule making prior to the adoption of the final rules.
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NUCLEAR REGULATORY COMMISSION
10 CFR Part 50
RIN 3150-AG84
Financial Information Requirements for Applications To Renew or
Extend the Term of an Operating License for a Power Reactor
AGENCY: Nuclear Regulatory Commission.
ACTION: Proposed rule.
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SUMMARY: The Nuclear Regulatory Commission (NRC) proposes to amend its
regulations to remove the requirement that non-electric-utility power
reactor licensees submit financial qualifications information in their
license renewal applications, and to add a new requirement that
licensees of nuclear power reactors who are electric utilities
reorganizing as non-electric-utility entities without a license
transfer must notify the NRC and submit information on their financial
qualifications. The proposed rule would reduce unnecessary regulatory
burden for licensees seeking renewal of operating licenses, and ensure
that licensees reorganizing as non-electric-utility entities continue
to be financially qualified to operate their facilities and maintain
the public health and safety.
DATES: The comment period expires on August 19, 2002. Comments received
after this date will be considered if it is practical to do so, but the
Commission is only able to ensure consideration of comments received on
or before this date.
ADDRESSES: Mail comments to Secretary, U.S. Nuclear Regulatory
Commission, Washington, DC 20555-0001, Attention: Rulemaking and
Adjudications Staff. Deliver comments to 11555 Rockville Pike,
Rockville, Maryland, between 7:30 a.m. and 4:15 p.m. on Federal
workdays.
You also may provide comments via the NRC's interactive rulemaking
Website at (http://ruleforum.llnl.gov). 
This site provides the
capability to upload comments as files (any format), if your Web
browser supports that function. For information about the interactive
rulemaking Website, contact Ms. Carol Gallagher at
301-415-5905 or e-mail cag@nrc.gov.
Documents may be examined, and/or copied for a fee, at the NRC's
Public Document Room, located at One White Flint North, 11555 Rockville
Pike (first floor), Rockville, Maryland. Publicly available records
will be accessible electronically from the Public Electronic Reading
Room on the NRC Website at www.nrc.gov.
FOR FURTHER INFORMATION CONTACT: George J. Mencinsky, Office of Nuclear
Reactor Regulation, U.S. Nuclear Regulatory Commission, Washington, DC
20555-0001, telephone (301) 415-3093, e-mail
gjm@nrc.gov.
SUPPLEMENTARY INFORMATION:
Background
Section 182.a. of the Atomic Energy Act of 1954, as amended (AEA),
provides that "each application for a license * * *
shall specifically state such information as the Commission, by rule or
regulation, may determine to be necessary to decide such of the
technical and financial qualifications of the applicant * * *
as the Commission may deem appropriate for the license." The
NRC's regulations governing financial qualifications reviews of
applications for licenses to construct or operate nuclear power plants
are provided in 10 CFR 50.33(f).
Section 50.33(f)(2) currently requires all applicants for initial
operating licenses and renewal of operating licenses to submit
financial qualifications information, except applicants for and holders
of operating licenses for nuclear power reactors that are electric
utilities. This provision, adopted on September 12, 1984 (49 FR 35747),
was based on the premise that the ratemaking process ensures that an
applicant that is an electric utility and a holder of an operating
license will have funds to operate the plant safely. Because entities
other than electric utilities did not have recourse to ratemaking, they
were required to submit information on financial qualifications in
accordance with Sec. 50.33(f), and the NRC was required to make
a finding of financial qualification for these nonutility entities
under Sec. 50.57(a)(4).
In issuing the License Renewal Rule, 10 CFR part 54 (56 FR 64943;
December 13, 1991), the Commission reaffirmed that the basis of the
1984 rulemaking for eliminating financial qualifications review for
electric utilities applies not only for the term of the original
license, but also for the period of operation covered by a renewed
license (56 FR at 64968). However, the findings required to issue a
renewed license based on the standards contained in 10 CFR 54.29 do not
require a finding regarding financial qualifications for non-electric-
utility entities seeking a renewal license. The 1991 rule left
unchanged the requirement in Sec. 50.33(f)(2) that license
renewal applicants that are not electric utilities submit financial
qualifications information in their renewal applications and extended
the 1984 rule's finding to applicants for renewal of operating
licenses. The revision to 10 CFR part 54 published on May 8, 1995 (60
FR 22461), did not amend this requirement. Thus, while non-electric-
utility entities are required to submit financial qualifications
information, there is no requirement for a finding of financial
qualifications for non-electric-utility entities, and no basis for the
lack of such a finding requirement.
Since the 1995 rulemaking, the NRC has received numerous requests
for license renewals and has granted eight renewed licenses for four
plant sites to electric utilities. However, because of ongoing
deregulation in the power market, new entities other than electric
utilities may be created to become licensees of nuclear power plants.
Some of these entities may decide to renew their licenses. Under the
current rule they would be required to submit financial qualifications
information under Sec. 50.33(f)(2). Moreover, despite the
language of Sec. 54.29, the NRC must make a case-by-case
finding of financial qualifications.
Such a case-by-case determination would be resource-intensive and
may result in delays in approving renewal applications. The NRC staff
has reviewed the license transfer process to determine if there was a
basis in the regulatory process that would obviate the need for such a
finding at license renewal. The NRC staff determined that, with one
exception, the NRC does not need the financial qualifications
[[Page 38428]]
information from license renewal applicants that are not electric
utilities since the NRC can obtain and track financial qualifications
information from the licensees through means other than the license
renewal process. The exception is the potential gap in the financial
qualifications regulation for non-electric-utility entities when a
licensee transitions from an electric utility to an entity other than
an electric utility without transferring its license. Although almost
all utilities transfer to non-utility status with a license transfer,
this regulatory gap, if not closed, would prevent the NRC from making a
generic determination that financial qualifications review is
unnecessary at license renewal. Therefore, in this proposed rule the
NRC proposes to adopt a provision to close the gap.
Regulatory Oversight of Licensees' Financial Qualifications and
Discussion of Proposed Rule
With one exception, the NRC has provisions in its regulations to
evaluate a nuclear power reactor applicant's or licensee's financial
qualifications at several points at initial licensing, before
license transfers, and when circumstances warrant an ad hoc request for
additional financial information. In addition, the NRC staff informally
monitors the financial trade press for information on its licensees'
financial situations. The one exception relates to a situation when a
licensee transitions from an electric utility to an entity other than
an electric utility without transferring its license. This proposed
rule would rectify the regulatory gap by imposing a request for
financial qualifications information from the licensee. With the
addition of this provision, the Commission believes it has a basis for
concluding that it is unnecessary to review financial qualifications
information explicitly during the license renewal process for holders
of operating licenses for nuclear power reactors. The NRC does not
believe that there are any financial circumstances uniquely associated
with license renewal that warrant a concomitant financial review.
The NRC staff relies on the requirement in 10 CFR 50.33(f)(2) to
obtain financial qualifications information on applicants seeking
renewal of nonpower reactor operating licenses. The license renewal
process for nonpower reactors, unlike the license renewal process for
power reactors, includes a financial qualifications review. The NRC
staff does not propose to amend this requirement since the nature of
nonpower reactor operations does not permit the same level of ongoing
financial qualifications oversight, thus necessitating a review of
financial qualifications for nonpower reactor licensees at renewal.
Initial Licensing Reviews
The NRC performs financial qualifications reviews during initial
licensing. These reviews form part of the licensing basis that the
licensee must maintain for the 40-year term of the initial license and
for any license renewal period. Financial qualifications reviews at the
operating license stage distinguish between license applicants that are
electric utilities as defined in 10 CFR 50.2 and those that are not.
Applicants other than electric utilities are required to submit
estimates for total annual operating costs for each of the first five
years of operation of the facility, and indicate the sources of funds
to cover these costs. The NRC evaluation of the financial
qualifications of an entity other than an electric utility applicant is
based on the submitted 5-year projections of income and expenses and on
current information from a number of major financial rating service
publications. The NRC publishes the results of its evaluation in a
safety evaluation report. The NRC's regulations do not require
additional formal financial qualifications reviews at scheduled
intervals.
License Transfer Reviews
A license transfer under 10 CFR 50.80 may occur at any time during
the period of the license. The NRC also reviews the financial
qualifications of non-electric-utility applicants seeking to become
licensees through direct license transfers (plant sales), and considers
changes in the financial qualifications of an existing licensee,
whether or not it is an electric utility, that might occur in
connection with an indirect license transfer by a merger, acquisition,
or restructuring action. For a direct license transfer, a non-electric-
utility applicant must submit all the information required under
Sec. 50.33(f).
Informal Screening of Financial and Nuclear Industry Trade Press and
Other Information Sources
To keep abreast of deregulation and other developments potentially
affecting its power reactor licensees, the NRC staff screens the
financial and trade press and other information sources (e.g., State
legislative reports) to determine whether a licensee or license
applicant remains an electric utility or otherwise requires additional
review of its financial qualifications. To date, all utility-to-
nonutility transitions by NRC power reactor licensees have been
accomplished through restructurings that involved license transfers.
The NRC examines license transfers to determine whether a proposed
transferee is, among other requirements, financially qualified to
conduct the activities authorized by a license. If the licensee becomes
an entity other than an electric utility without going through a
license transfer, the NRC believes that it will become aware of the
change through its informal screening process. The NRC can then request
additional information under Sec. 50.33(f)(4), as described in
the next section.
Ad Hoc Reviews Under 10 CFR 50.33(f)(4)
Section 50.33(f)(4) states: "The Commission may request an
established entity or newly formed entity to submit additional or more
detailed information respecting its financial arrangements and status
of funds if the Commission considers this information to be
appropriate. This may include information regarding a licensee's
ability to continue the conduct of the activities authorized by the
license and to decommission the facility." This section permits
the NRC to require license applicants or licensees to submit relevant
financial information on the qualifications of the licensee to manage
licensed activities at any time.
Proposed Requirement for Additional Information That May Not Be
Otherwise Obtained Under the NRC's Financial Qualifications Review
Framework
In some situations a licensee may transition from an
"electric utility," as defined in 10 CFR 50.2, to a company
whose rates are not regulated by a public utility commission or the
Federal Energy Regulatory Commission on a cost of service basis. If
such a transition were to occur in the absence of a license transfer,
the NRC would then have no formal process to evaluate the licensee's
financial qualifications (although, as discussed previously, the NRC's
informal monitoring process would identify such transitions and could
trigger, if warranted, a request for additional information pursuant to
Sec. 50.33(f)(4)). Therefore, the NRC proposes to create 10 CFR
50.76, a requirement segregated from Sec. 50.33(f)(2), which
would require licensees that are transitioning from an electric utility
to a non-electric-utility, without going through license transfers, to
submit financial information sufficient to allow the NRC to determine
whether the licensee remains financially qualified to conduct the
activities authorized by the license. Although the
[[Page 38429]]
NRC expects that this type of transition will occur rarely, if at all,
this requirement would ensure a financial qualifications review
resulting from all relevant triggering events and, thereby, enhance
public confidence while maintaining regulatory efficiency and
effectiveness.
The proposed new section 50.76 will be created to provide a
separation from Sec. 50.33, since the latter section focuses on
applicants rather than licensees.
Retention of Nonpower Reactor Financial Reviews at License Renewal
The NRC will retain the financial qualifications requirements in
Sec. 50.33(f)(2) for nonpower reactor (NPR) applicants that
wish to renew or extend their licenses. Nonpower reactor licenses are
generally renewed for 20 years. The NRC does not normally perform
follow-up financial reviews after the initial 20-year license is
issued. The NRC staff does not normally follow changes in NPR licensee
financial qualifications because NPR owners are primarily financially
stable nonprofit educational or research institutions, either
privately, State, or Federally owned, and do not report financial
information to sources readily available to the NRC. Additionally,
license transfers for NPRs and the associated financial reviews are
rare. A small number of NPRs are owned and operated by private
companies. Therefore, financial qualification problems are not likely
to become obvious, at least in part because of the unavailability of
accessible information, as cited above. In some cases, the NRC has
found financial weaknesses or ambiguities during NPR license renewals
that it would not have discovered otherwise. As a result of the review,
the NRC was able to require the licensee to take corrective action.
Therefore, the NRC considers it appropriate to review NPR licensees'
financial qualifications when they apply to renew their licenses. The
burden on NPR licensees to demonstrate their financial qualifications
every 20 years is offset by the assurance that licensee management is
committed to continued operation.
Conclusions on Eliminating Financial Qualifications Reviews for Power
Reactor Licensees at License Renewal
Section 50.33(f) requires all applicants for initial and renewed
operating licenses to submit financial qualifications information,
except applicants for and holders of operating licenses for nuclear
power reactors that are electric utilities. Section 50.33(f)(2)
requires an entity other than an electric utility that seeks to renew
its operating license for a nuclear power plant submit the same
financial information in its application that is required for an
application for an initial license.
The NRC does not believe that there are any financial circumstances
uniquely associated with license renewal that warrant a separate
financial review. First, the NRC's regulatory processes for financial
qualifications reviews adequately ensure that the NRC can take
appropriate regulatory action when warranted by changes in a licensee's
financial qualifications. Second, the submission of financial
qualifications information and a finding of financial qualifications
for a nuclear power plant licensee at the license renewal stage, by
itself, is not likely to have any impact on a licensee's financial
qualifications, and therefore should not be a factor in the renewal
decision. In contrast, there are valid regulatory reasons for
conducting specified financial qualifications reviews at other
stages i.e., at initial licensing, when an applicant's financial
qualifications need to be determined in accordance with the AEA's
requirements; at the time of a license transfer, when deregulation
initiatives are likely to affect an applicant's or licensee's financial
qualifications through restructuring, plant sales, or other events; or
at times of special circumstances, when ad hoc reviews under
Sec. 50.33(f)(4) may be warranted.
For these reasons, the NRC proposes to change the requirement in
the last sentence of Sec. 50.33(f)(2) with respect to entities
other than electric utilities seeking renewal of operating licenses for
nuclear power reactors. The proposed rule would (1) eliminate the need
for such entities to provide financial qualifications information as
part of the license renewal process, (2) retain the existing
requirement in Sec. 50.33(f) for nonpower reactors to provide
financial qualifications information, and (3) add a new
Sec. 50.76, "Licensee's change of status; financial
qualifications." Section 50.76 would require that any electric
utility power reactor licensee that becomes an entity other than an
electric utility without transferring the license must provide the same
financial information that is required for obtaining an initial
operating license. The proposed rule would not affect the submission of
financial qualifications information and the need for a finding of
financial qualifications with respect to direct transfers of nuclear
power plant operating licenses, nor would the rule affect the review of
whether an indirect transfer would change the respective licensee's
financial qualifications.
The NRC believes this proposed rule would be consistent with the
NRC's Strategic Goals of making NRC activities and decisions more
effective and efficient and reducing unnecessary regulatory burden. The
proposed rule would help advance these goals by eliminating the need
for "entities other than electric utilities" to submit
information on financial qualifications, as is the case now for
electric utilities, in connection with license renewal, and would make
the financial qualifications review requirements consistent with the
bases of the License Renewal rule in 10 CFR part 54, which does not
require a finding of financial qualifications for those power reactor
licensees applying for a renewed nuclear power plant operating license.
The proposed rule would not have an adverse impact on maintaining
safety; the provisions in Sec. 50.33(f)(4) already ensure that
financial information can be obtained from a licensee whenever the NRC
considers this information appropriate.
Section-by-Section Analysis
10 CFR 50.33, Contents of applications; general information.
Section 50.33(f)(2) would be amended to replace a requirement that
now states license renewal applicants must provide financial
qualifications information with a requirement that states power reactor
applicants for license renewal no longer need to provide financial
qualifications information. Nonpower reactor applicants, on the other
hand, would continue to submit financial qualifications information in
the applications as is currently required. A new sentence would be
added to Sec. 50.33(f)(2) to specify that nonpower reactor
license renewal applicants must continue to submit financial
qualifications information in their applications.
10 CFR 50.76, Licensee's change of status; financial qualifications.
Section 50.76, a new requirement segregated from
Sec. 50.33(f)(2), would be adopted to cover situations in which
a licensee changes from an electric utility to a non-electric-utility,
i.e., a company that cannot obtain revenue from the cost of service
ratemaking process, in a manner other than a license transfer under 10
CFR 50.80. The NRC proposes to require licensees that are transitioning
from an electric utility to a non-electric-utility entity without
transferring their licenses to submit financial information pursuant to
the requirements of this new section. If a
[[Page 38430]]
licensee will cease to be an electric utility, the NRC proposes that
the licensee shall notify the NRC 75 days before the transition and
provide the financial information at that time.
Issues for Public Comment
The NRC encourages comments on the content, level of detail, and
the implementation of the proposed amendments. Suggestions or
alternatives other than those described in this document and estimates
of the cost of implementation are encouraged.
The NRC is particularly interested in receiving comments on the
following issues related to this proposed rule:
1. Are there rulemaking alternatives to this proposed rule that
were not considered in the regulatory analysis for this proposed rule?
2. Should the requirement that nonpower reactor licensees provide
financial qualifications information when they apply for license
renewal be eliminated? On what basis?
3. Are the regulations dealing with financial qualifications
oversight sufficiently flexible not to require this information from
non-electric-utility applicants seeking license renewals for power
reactors?
Availability of Documents
This Federal Register document, the regulatory analysis, and the
environmental assessment are available at the NRC Public Document Room
at 11555 Rockville Pike, Rockville, Maryland; through the NRC's
interactive rulemaking Website at http://ruleforum.llnl.gov; and
through the NRC's Public Electronic Reading room at http://www.nrc.gov/
reading-rm.html.
The ADAMS accession number of the notice is ML020700359. The
regulatory analysis number is ML020700372. The environmental assessment
number is ML020700379.
Single copies of the Federal Register notice, regulatory analysis,
and environmental assessment may be obtained from George J. Mencinsky,
Division of Regulatory Improvement Programs, Office of Nuclear Reactor
Regulation, U.S. Nuclear Regulatory Commission, Washington, DC
20555-0001 (301-415-3093), or gjm@nrc.gov.
Plain Language
The Presidential memorandum dated June 1, 1998, entitled
"Plain Language in Government Writing," directed that the
Government write in plain language. This memorandum was published on
June 10, 1998 (63 FR 31883). In complying with this directive,
editorial changes have been made in this proposed rule to improve
readability of the existing language of those provisions being revised.
These types of changes are not discussed further in this document. The
NRC requests comment on the proposed rule specifically with respect to
the clarity and effectiveness of the language used. Comments should be
sent to the address given in the ADDRESSES section.
Voluntary Consensus Standards
The National Technology Transfer and Advancement Act of 1995, Pub.
L. 104-113, requires that Federal agencies use technical
standards that are developed or adopted by voluntary consensus standard
bodies unless the use of such a standard is inconsistent with
applicable law or is otherwise impractical. In this proposed rule, the
NRC would eliminate the requirement that applicants for power reactor
license renewal provide financial qualifications information, and add a
new requirement for submission of financial information on electric
utilities holding operating licenses for nuclear power reactors, who
cease to be electric utilities in a manner other than a license
transfer under 10 CFR 50.80. This proposed rule would not constitute a
standard that establishes generally applicable requirements, and the
requirement to use a voluntary consensus standard is not applicable.
Finding of No Significant Environmental Impact: Availability
The Commission has determined that under the National Environmental
Policy Act of 1969, as amended, and the Commission's regulations in
subpart A of 10 CFR part 51 that this proposed rule, if adopted, would
not be a major Federal action significantly affecting the quality of
the human environment and, therefore, an environmental impact statement
is not required.
There are no significant radiological environmental impacts
associated with the proposed action, since the proposed action only
addresses the submission of financial information to the NRC. The
proposed action does not involve nonradiological plant effluents and
has no other environmental impact. Therefore, NRC expects that no
significant environmental impact would result from the proposed rule.
The determination of this environmental assessment is that there
will be no significant offsite impact to the public from this action.
However, the general public should note that the NRC is seeking public
participation. The NRC has also committed to complying with Executive
Order (E.O.) 12898, "Federal Actions to Address Environmental
Justice in Minority Populations and Low-Income Populations,"
dated February 11, 1994. The NRC evaluated environmental justice for
this environmental assessment and has determined that there are no
disproportionate high and adverse impacts on minority and low-income
populations. In the letter and spirit of E.O. 12898, the NRC is
requesting public comment on any environmental justice considerations
or questions that the public thinks may be related to this proposed
rule but somehow was not addressed. E.O. 12898 describes environmental
justice as "identifying and addressing, as appropriate,
disproportionately high or adverse human health or environmental
effects of its programs, policies, and activities on minority
populations and low-income populations." Comments on any aspect
of the environmental assessment, including environmental justice, may
be submitted to the NRC as indicated under the ADDRESSES heading.
The NRC has sent a copy of the environmental assessment and this
proposed rule to all State Liaison Officers and requested their
comments.
Paperwork Reduction Act Statement
This proposed rule eliminates the burden on non-electric-utility
power reactor licensees to submit financial qualifications information
upon license renewal as required by the current
Sec. 50.33(f)(2). However, power reactor licensees that become
non-electric-utility power reactor entities without transferring the
license would still be required to provide this information under new
Sec. 50.76. The public burden reduction for this information
collection is estimated to average 100 hours per request. Because the
burden reduction for this information collection is insignificant,
Office of Management and Budget (OMB) clearance is not required.
Existing requirements were approved by the Office of Management and
Budget, approval number 3150-0011.
Public Protection Notification
The NRC may not conduct or sponsor, and a person is not required to
respond to, a request for information or an information collection
requirement unless the requesting document displays a currently valid
OMB control number.
Regulatory Analysis
The Commission has prepared a regulatory analysis on this proposed
regulation. The analysis examines the costs and benefits of the
alternatives considered by the Commission. The regulatory analysis may
be examined, and/or copied for a fee, at the NRC's
[[Page 38431]]
Public Document Room at One White Flint North, 11555 Rockville Pike
(first floor), Rockville, Maryland. The Commission requests public
comment on the regulatory analysis. Comments should be submitted to the
NRC in accordance with the instructions in the ADDRESSES section of
this notice.
Regulatory Flexibility Certification
In accordance with the Regulatory Flexibility Act, as amended, 5
U.S.C. 605(b), the Commission certifies that this proposed rule would
not, if adopted, have a significant economic impact on a substantial
number of small entities. This proposed rule would affect only the
renewal of nuclear power reactor licenses. The companies that own these
reactors are not "small entities" as defined in the
Regulatory Flexibility Act or the Size Standards established by the NRC
(10 CFR 2.810).
Backfit Analysis
The NRC has determined that the backfit rule does not apply to this
proposed rule. The proposed rule would (1) permissively relax the
current requirement in Sec. 50.33(f) for submission of
financial qualifications information by entities other than electric
utilities seeking renewal of their nuclear power plant operating
licenses, and (2) impose a new requirement for submission of financial
information on electric utilities who hold operating licenses for
nuclear power reactors, who cease to be electric utilities in a manner
other than a license transfer under 10 CFR 50.80. Such information
collection and reporting requirements do not constitute regulatory
actions to which the backfit rule applies. In addition, with respect to
the permissive relaxation in Sec. 50.33(f), such relaxations do
not "impose" a requirement, which is an essential element
of "backfitting" as defined in Sec. 50.109(a)(1).
Accordingly, the proposed rule's provisions do not constitute a
backfit and a backfit analysis need not be performed. However, the
staff has prepared a regulatory analysis that identifies the benefits
and costs of the proposed rule and evaluates other options for
addressing the identified issues. As such, the regulatory analysis
constitutes a "disciplined approach" for evaluating the
merits of the proposed rule and is consistent with the intent of the
backfit rule.
List of Subjects in 10 CFR Part 50
Antitrust, Classified information, Criminal penalties, Fire
protection, Intergovernmental relations, Nuclear power plants and
reactors, Radiation protection, Reactor siting criteria, Reporting and
recordkeeping requirements.
For the reasons set forth in the preamble and under the authority
of the Atomic Energy Act of 1954, as amended; the Energy Reorganization
Act of 1974, as amended; and 5 U.S.C. 553, the NRC is proposing to
adopt the following amendments to 10 CFR part 50.
PART 50 DOMESTIC LICENSING OF PRODUCTION AND UTILIZATION
FACILITIES
1. The authority citation for part 50 continues to read as follows:
Authority: Secs. 102, 103, 104, 105, 161, 182, 183, 186, 189, 68
Stat. 936, 938, 948, 953, 954, 955, 956, as amended, sec. 234, 83
Stat. 444, as amended (42 U.S.C. 2132, 2133, 2134, 2135, 2201, 2232,
2233, 2239, 2282); secs. 201, as amended, 202, 206, 88 Stat. 1242,
as amended, 1244, 1246 (42 U.S.C. 5841, 5842, 5846).
Section 50.7 also issued under Pub. L. 95-601, sec. 10, 92
Stat. 2951, as amended by Pub. L. 102-486, sec. 2902, 106
Stat. 3123 (42 U.S.C. 5851). Section 50.10 also issued under secs.
101, 185, 68 Stat. 936, 955, as amended (42 U.S.C. 2131, 2235); sec.
102, Pub. L. 91-190, 83 Stat. 853 (42 U.S.C. 4332). Sections
50.13, 50.54(dd), and 50.103 also issued under sec. 108, 68 Stat.
939, as amended (42 U.S.C. 2138). Sections 50.23, 50.35, 50.55, and
50.56 also issued under sec. 185, 68 Stat. 955 (42 U.S.C. 2235).
Sections 50.33a, 50.55a, and Appendix Q also issued under sec. 102,
Pub. L. 91-190, 83 Stat. 853 (42 U.S.C. 4332). Sections 50.34
and 50.54 also issued under Pub. L. 97-415, 96 Stat. 2073 (42
U.S.C. 2239). Section 50.78 also issued under sec. 122, 68 Stat. 939
(42 U.S.C. 2152). Sections 50.80 and 50.81 also issued under sec.
184, 68 Stat. 954, as amended (42 U.S.C. 2234). Appendix F also
issued under sec. 187, 68 Stat. 955 (42 U.S.C. 2237).
2. In Sec. 50.33, paragraph (f)(2) is revised to read as
follows:
Sec. 50.33 Contents of applications; general information.
* * * * *
(f) * * *
(2) If the application is for an operating license, the applicant
shall submit information that demonstrates the applicant possesses or
has reasonable assurance of obtaining the funds necessary to cover
estimated operation costs for the period of the license. The applicant
shall submit estimates for total annual operating costs for each of the
first five years of operation of the facility. The applicant shall also
indicate the source(s) of funds to cover these costs. An applicant
seeking to renew or extend the term of an operating license for a power
reactor need not submit the financial information that is required in
an application for an initial license. Applicants to renew or extend
the term of an operating license for a nonpower reactor shall include
the financial information that is required in an application for an
initial license.
* * * * *
3. Section 50.76 is added to read as follows:
Sec. 50.76 Licensee's change of status; financial
qualifications.
An electric utility licensee holding an operating license
(including a renewed license) for a nuclear power reactor, no later
than 75 days prior to ceasing to be an electric utility in any manner
not involving a license transfer under Sec. 50.80 of this part,
shall provide the NRC with the financial qualifications information
that would be required for obtaining an initial operating license as
specified in Sec. 50.33(f)(2). The financial qualifications
information must address the first full five years of operation after
the date the licensee ceases to be an electric utility.
Dated at Rockville, Maryland, this 29th day of May 2002.
For the Nuclear Regulatory Commission.
Annette L. Vietti-Cook,
Secretary of the Commission.
[FR Doc. 02-13903 Filed 6-3-02; 8:45 am]
BILLING CODE 7590-01-P