Customers who buy energy through Eversource should expect to see lower energy prices by Eversource buying power at a lower price in the wholesale electric market, Eversource said last October when the deals were announced. An affiliate of Hull Street Energy now owns the hydroelectric stations: Amoskeag Hydro in Manchester, Ayers Island Hydro in Bristol, Canaan Hydro in West Stewartstown, Eastman Falls Hydro in Franklin, Garvins Falls Hydro in Bow, Gorham Hydro in Gorham, Hooksett Hydro in Hooksett, Jackman Hydro in Hillsborough and Smith Hydro in Berlin.
Both sales were auctions approved by the state Public Utilities Commission. “With this final sale, we are honoring the commitments made to employees and communities where the facilities are located, and we will maintain close communication with the towns to ensure a smooth transition,” Quinlan said.
Under the sale agreements, the new owners must keep the plants in service for at least 18 months, and must honor a comprehensive employee benefits package established by Eversource and the International Brotherhood of Electrical Workers. Eversource also will provide three years of tax stabilization payments to communities where a power plant was sold for less than its assessed value.
A year and a half – that’s a very SHORT amount of time. And NH State Senator Jeb Bradley’s (who has had his mitts on this for years thinking he’s got the Midas touch (and I’m not thinking of the muffler folks but we may indeed end up with lots of rusty stuff moldering in a pile) definition of deregulation doesn’t mean what most of us would think – that anyone could sell electricity from anywhere to anyone that wished to buy their product. Instead, with NH State Senator Jeb Bradley leading the way for years to absolutely make a complete hash of the local electrical industry, it has come to mean “anyone that actually GENERATES their own to sell can’t own their own generating plants.
Let’s see:
- Kill off capitalist company
- Move the State to a more socialist healthcare system
- Extend the NH welfare state with a [thankfully failed] Family Medical Leave act that instituted a broadbased payroll tax that was upside down from the get go financially
- Make NH State Government more expansive and expensive
Awe, heck – you know the rest of the litany. But one question for Bradley remains – you screwed up PSNH with the scrubber on the Bow Plant, whaddya gonna do when that 18 month window closes AND THEY CLOSE THE PLANTS??? You’ve already screwed over the local town tax receipts for plants selling less than assessed values – you only masked it for three years. You did this.
(H/T: Union Leader)
