Eversource Energy requests approval for US$258.3 million sale of its generating assets

Eversource Energy today filed documents with the New Hampshire Public Utilities Commission (NHPUC) requesting approval on the US$258.3 million sale of all of Eversource’s generating assets.

According to the filing, on Oct. 11, Eversource signed two purchase and sales agreements; one with Granite Shore Power LLC for the purchase of the Merrimack, Newington, Schiller, White Lake, and Lost Nation thermal generating stations, and the second with HSE Hydro NH AC, LLC for the purchase of Eversource’s hydro generating assets.

Eversource says, “Following NHPUC and other necessary approvals, closings on the transactions are expected by late December or early 2018. This change in power plant ownership will mark the completion of electric deregulation in New Hampshire and a shift in how [Eversource Energy] procures energy for customers in the future.”

In July 2017, HydroWorld.com reported NHPUC approved the sale of 12 Eversource’s power plants, including nine hydroelectric facilities, within a settlement agreement between the state and the utility.

The number of hydropower assets listed in today’s filing includes nine facilities located throughout New Hampshire and shares of the Androscoggin Reservoir Co. (ARCO), located in Maine, at the following selling prices:

  • ARCO — $500,000;
  • 16-MW Amoskeag Station — $21.26 million;
  • 8.4-MW Ayers Island Station — $10.5 million;
  • 1.1-MW Canaan Station — $1.7 million;
  • 6.4-MW Eastman Falls Station — $6.15 million;
  • 12.1-MW Garvins Falls Station — $10.64 million;
  • 2.2-MW Gorham Station — 2.88 million;
  • 1.6-MW Hooksett Station — $1.97 million;
  • 3.2-MW Jackman Station — $2.45 million;
  • 17.2-MW Smith Station — $24.95 million;
  • Total — $83 million

The plants were sold at auction overseen by NHPUC, which approved the sale July 1. Eversouce made the initial agreement with key state officials in March 2015.

Eversource said it requests approval of these two contracts to presrve the value of these contracts and the overall benefits for its customers.

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Gregory B. Poindexter formerly was an associate editor for HydroWorld.com.

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