Utility Outlines Details of Proposed Power Plant Sales
MANCHESTER (AP) — New Hampshire's largest utility has outlined details of its agreements to sell power-generating plants to two buyers, which must be reviewed and approved by the state Public Utilities Commission.
Eversource's three large fossil generation facilities and two combustion turbines would be bought for $175 million by Granite Shore Power LLC, a partnership between Atlas Holdings of Greenwich, Connecticut, and Castleton Commodities International of Stamford, Connecticut.
The large plants include the Newington and Schiller stations and Bow Station in Merrimack.
The company's nine hydroelectric facilities will be acquired for $83 million by Hull Street Energy, LLC and affiliates, based in Bethesda, Maryland.
Closings are expected by late December or early 2018, pending approvals.
Eversource is joining other utilities in purchasing power on the competitive regional wholesale energy market. It anticipates savings for customers; its rates won't include ongoing costs of owning an operating the plants.