A story in yesterday's Business & Finance section reported the Sequoyah nuclear power plant was located in California. The plant is located in Alabama.

The nuclear power industry pleaded yesterday for permission to open four ready-to-go nuclear plants, accusing the Nuclear Regulatory Commission of "fiddling around" while the public pays for the delay.

Industry representatives told the commission that $5 billion in the form of four shiny new reactors is sitting idle, costing the public $15 million a month each in capital, interest, inflation and replacement fuel charges.

"Your current licensing pause is one in a series of endless study efforts in which conclusive action is submerged by bureaucratic procedures," said Roger Sherman, chairman of the Atomic Industrial Forum, the industry trade association.

The NRC imposed an informal freeze on the licensing of new reactors in the wake of the Three Mile Island accident in Pennsylvania last March. Safety-related changes found to be necessary by the many post-accident study reports are now being implemented at all 70 operating reactors and have been incorporated into the new ones that remain closed, Sherman said.

Those four, each one worth about $1.3 billion, are Virginia's North Anna II, New Jersey's Salem I and California's Diablo Canyon and Sequoyah plants. Three of four more units could be finished with final tests by the end of 1980.

"No new gut safety issue emerged" in Oct. 30 report of the Kemeny Commission to President Carter on Three Mile Island, noted Aif President Carl Walske. "You're still fiddling around with the Kemeny report . . . and you'll have the Rogovin report and a Senate report coming up."

The NRC's own special report on the accident is expected to be submitted by Washington attorney Mitchell Rogovin within the next two weeks. The Senate report is due soon afterward.

"There's nothing in the (NRC's) action plan that justifies any further pause," Walske said.

"Perhaps it was completely obvious to you many months ago," replied NRC Chairman John Ahearne, "but it wasn't to our staff."

He promised nothing. "We recognize your point, but we aren't automatically going to flip the switch," Ahearne said. "We'll take it into account."

NRC officials have said that the freeze would last until spring of this year, without specifying a date.

Walske said after the meeting that he was "disappointed the commissioners didn't try to defend (the freeze) . . . they gave us no real reason why we shouldn't open."