PUC Approves Sale Of Utility's Generation Assets To Complete Divestiture, Paves Way For Competitively Sourced Default Service

The New Hampshire PUC has approved the sale of Public Service Company of New Hampshire's (Eversource) fossil fuel (thermal) power plants and PSNH's hydro plants

As previously reported, the thermal generation was sold to Granite Shore Power LLC for $175 million. The thermal assets include Merrimack Station in Bow, Newington Station in Newington, and Schiller Station in Portsmouth, along with two "peaking" combustion turbines in Groveton and Tamworth.

Granite Shore Power LLC is a newly-formed 50-50 partnership between Atlas Holdings of Greenwich, CT and Castleton Commodities International (CCI) of Stamford, CT

The hydro plants were sold to HSE Hydro NH AC LLC (e.g. Hull Street Energy, LLC and affiliates) for $83.3 million. The hydro plants include 9 generating plants located on the Connecticut, Pemigewasset, Androscoggin, and Merrimack Rivers

More info (capacity, etc.) on the plants included in the sales can be found here

"When completed, this sale and the sale of Eversource's thermal generating facilities will finish the two-decade process of restructuring of New Hampshire's electric industry," PSNH said

As reported yesterday, several parties have reached a settlement concerning the structuring of default service once the sale process of the PSNH generation is complete (see story here)