Eversource plots hydro sale
Nine plants in New Hampshire totalling 68.2MW to be sold to Hull Street Energy
Eversource Energy has submitted a plan to the New Hampshire Public Utilities Commission (NHPUC) to sell nine hydro plants totalling 68.2MW to Hull Street Energy and affiliates for $83m.
The sale includes the 16MW Amoskeag, 8.4MW Ayers Island, 1.1MW Canaan, 6.4MW Eastman Falls, 12.1MW Garvins Falls, 2.2MW Gorham, 1.6MW Hooksett, 3.2MW Jackman and 17.2MW Smith plants.
Following NHPUC and other necessary approvals, closing of the transaction is expected by late December or early 2018, Eversource said.
“The change in power plant ownership will mark the completion of electricity deregulation in New Hampshire and a shift in how the company procures energy for customers in the future,” the company said.
It also plans to sell over 1.13GW of thermal generating capacity.
Eversource NH president Bill Quinlan said: “Our generation plants have proven valuable to New Hampshire customers for many years, especially during times of extreme cold or heat when additional sources of power have been needed to help meet demand.
“Now we will join other utilities across New England in obtaining energy for our customers from the competitive regional wholesale energy market.”