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N.H. PUC Opens New Proceeding to Determine Whether to Divest PSNH Utility Power Plants

September 19, 2014

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Copyright 2010-14 EnergyChoiceMatters.com
Reporting by Karen Abbott • kabbott@energychoicematters.com

The New Hampshire PUC has opened Docket 14-238 in response to HB 1602, which requires the PUC to, "commence and expedite a proceeding to determine whether all or some of PSNH's generation assets should be divested."

Under HB 1602 the Commission, "may order PSNH to divest all or some of its generation assets if the commission finds that it is in the economic interest of retail customers of PSNH to do so, and provides for the cost recovery of such divestiture."

In the new proceeding, "the Commission will be guided by the purposes of HB 1602 which include: maximizing economic value for PSNH's retail customers; minimizing risk to those customers; reducing stranded costs; settling issues surrounding stranded costs; and if appropriate. providing for the continued operation or possible repowering of PSNH's generation assets," the PUC said.

At an initial prehearing conference, the Commission will take comment regarding whether any threshold issues should be considered at the outset of this proceeding. "Such preliminary issues may include: which generation assets and long-term contracts for generation supply should be included in this proceeding; the status of the 1999 restructuring settlement agreement with PSNH in docket DE 99-099 and its application to issues in this docket; and other issues identified by the parties," the PUC said.

"Additional prehearing conferences may be scheduled in order to establish the scope and sequence of issues to be determined in ascertaining the 'economic interest of retail customers of PSNH,' the methodologies to be used in establishing valuation of assets, the appropriate forecasting of retail market prices of electricity, and whether an auction process is appropriate, among other issues," the PUC said.

"This docket raises, inter alia, issues related to: the economic interest of PSNH's retail ratepayers; RSA 369-B:3-a; the sale value of PSNH's generation assets; the likely proceeds of a sale of some or all of PSNH' s generation assets; the treatment of stranded costs resulting from a sale of PSNH's generation assets; the rate impacts of retaining or selling PSNH's generation assets; RSA Chapter 374-F; and the consistency of any disposition of PSNH's generation assets with the Restructuring policies pursuant to RSA 374-F:3 and with RSA 369-B:3-a," the PUC said.

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