SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
August 22, 1996
Commission Registrants; State of Incorporation; IRS Employer
File Number Address; and Telephone Company Identification
No.
1-11327 Illinova Corporation 37-1319890
(an Illinois Corporation)
500 S. 27th Street
Decatur, IL 62525
(217) 424-6600
1-3004 Illinois Power Company 37-0344645
(an Illinois Corporation)
500 S. 27th Street
Decatur, IL 62525
(217) 424-6600
Total number of sequentially numbered pages is 3.
Item 5. Other Events
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On August 14, 1996, the Boards of Directors of Illinova
Corporation (Illinova) and Illinois Power Company (IP) authorized
IP to adopt a decommissioning plan for the Clinton Nuclear Power
Station, pursuant to a site-specific study of decommissioning
alternatives and costs. The study and the plan approved by the
Boards assume that the Clinton Power Station will continue to
operate until September of 2026, when its current license
expires.
Of the three currently used decommissioning approaches, the DECON
approach was chosen. The DECON approach allows for unrestricted
use of the site shortly after cessation of operations, in
contrast to the other approaches which contemplate either
mothballing, or entombment, and delayed dismantlement. The DECON
approach is estimated to cost approximately $545 million in 1996
dollars, compared to the $434 million current level of minimal,
generic funding specified by the Nuclear Regulatory Commission.
As a majority co-owner of the Clinton Power Station, IP is
responsible for 86.79% of such costs. It currently recovers such
costs from electric service customers pursuant to a tariff rider.
IP will seek from the Illinois Commerce Commission approval of an
increase in that rider, to reflect the results of the site-
specific study and adoption of the DECON decommissioning
approach.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned thereunto duly authorized.
ILLINOVA CORPORATION
(Registrant)
By/s/Larry F. Altenbaumer
---------------------------
Larry F. Altenbaumer
Chief Financial Officer
Treasurer and Controller
on behalf of
Illinova Corporation
Date: August 21, 1996
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned thereunto duly authorized.
ILLINOIS POWER COMPANY
(Registrant)
By/s/Larry F. Altenbaumer
-----------------------------
Larry F. Altenbaumer
Senior Vice President,
Chief Financial Officer and
Treasurer on behalf of
Illinois Power Company
Date: August 21, 1996
