Auction Advisor Recommends Delay in PSNH Generation Auction Process

Auction advisor J.P. Morgan has recommended to the New Hampshire PUC that the PUC slightly delay the timeline for the auction process for Public Service Company of New Hampshire to divest it utility-owned generation.

J.P. Morgan now recommends that final binding bids will be due in early-to-mid May 2017

Previously, J.P. Morgan's original proposed timeline would have resulted in a sale by March 2017

The change has been proposed to accommodate certain municipalities' participation in the auction

Apart from separating PSNH from generation ownership, completion of the divestiture will trigger a change in how PSNH supplies default service.

Once the PSNH plants are divested, PSNH will serve default service customers in a manner similar to the competitive procurement currently used by the other IOUs in the state (or any revised structure adopted by the PUC)