FPL Group Announces Receipt of Last Regulatory Approval Required to Complete Acquisition of Seabrook Station.Business EditorsJUNO BEACH, Fla.--(BUSINESS WIRE)--Oct. 29, 2002 FPL Group, Inc. (NYSE NYSE See: New York Stock Exchange :FPL) announced it received approval Monday from the Nuclear Regulatory Commission Nuclear Regulatory Commission (NRC), an independent U.S. government commission, created by the Energy Reorganization Act of 1974 and charged with licensing and regulating civilian use of nuclear energy to protect the public and the environment. for its subsidiary, FPL Energy Seabrook, to become the operator of Seabrook Station, a nuclear power plant in New Hampshire New Hampshire, one of the New England states of the NE United States. It is bordered by Massachusetts (S), Vermont, with the Connecticut R. forming the boundary (W), the Canadian province of Quebec (NW), and Maine and a short strip of the Atlantic Ocean (E). . The NRC's approval of the transfer of the license from North Atlantic Energy Service Corporation (NAESCO NAESCO National Association of Energy Service Companies ) marks the last regulatory approval required prior to FPL Group completing its acquisition of 88.23 percent of the 1,161-megawatt plant. FPL Group said it expects to complete the transaction by November 1. Owners selling their interests in Seabrook include: North Atlantic Energy Corporation, United Illuminating Company, Great Bay Power Corporation, New England Power Company, Connecticut Light & Power Company, Canal Electric Company, Little Bay Power Corporation, and New Hampshire Electric Cooperative. In May, NAESCO, the selling owners, and FPL Energy, a subsidiary of FPL Group, submitted an application to the NRC NRC abbr. 1. National Research Council 2. Nuclear Regulatory Commission Noun 1. NRC - an independent federal agency created in 1974 to license and regulate nuclear power plants requesting approval for the license transfer. Prior to granting the license transfer, the NRC technical staff reviewed the adequacy of decommissioning Decommissioning is a general term for a formal process to remove something from operational status. Some specific instances include:
FPL Group, with annual revenues of more than $8 billion, is nationally known as a high quality, efficient, and customer-driven organization focused on energy-related products and services. With a growing presence in 24 states, it is widely recognized as one of the country's premier power companies. Its principal subsidiary, Florida Power & Light Company, serves approximately 4 million customer accounts in Florida. FPL Energy, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , an FPL Group energy-generating subsidiary, is a leader in producing electricity from clean and renewable fuels. Additional information is available on the Internet at http://www.fplgroup.com, http://www.fpl.com and http://www.fplenergy.com. Note to Editors: High-resolution logos and executive head shots are available for download at http://www.fpl.com/news/contents/logos.shtml |
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