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ELECTRIC INDUSTRY RESTRUCTURING

Public Service Company of New Hampshire (PSNH) Restructuring Status Report

May 2001

May 1st is "C-Day," the day that competition among energy suppliers can occur in PSNH’s territory. As a result of legislation passed in April to respond to high fuel prices and the current energy crisis impacting other parts of the country, PSNH will keep its fossil fuel and hydroelectric generation plants for 33 months to provide transition service to all customers.

March  2001

On March 20, 2001 PSNH announced that the start date for electric restructuring will be delayed by one month, until May 1, 2001, as a result of delays in the bond rating process for the Rate Reduction Bonds (RRBs). These securitized bonds are necessary for the company to implement restructuring and begin competition.

January 2001

On January 16, 2001, the NH Supreme Court upheld the PSNH deregulation plan, which allowed the PUC and PSNH to proceed with rate reductions and divestiture of the utility’s generation facilities.

October 2000

On October 1, 2000, all PSNH ratepayers received a 5% rate reduction as a result of the key restructuring legislation signed into law by Governor Shaheen on June 12, 2000. The October rate reduction was the first step toward an overall 15% rate reduction required by the landmark legislation.

In late October, the NH Supreme Court accepted and consolidated two appeals of the PUC Restructuring Order, and granted expedited treatment for the appeal.

September 2000

On September 8, 2000 after consideration of PSNH’s Motion for Rehearing, the PUC issued an Order approving PSNH’s Restructuring Settlement Agreement and an Order on Financing.

June 2000

On May 31, 2000 the legislature passed legislation to implement restructuring, and Governor Shaheen signed Senate Bill 472 into law on June 12, 2000. This law makes it possible to implement the comprehensive restructuring settlement agreement with PSNH that will at long last bring rate reductions, competition, and other benefits to the majority of the State’s electricity consumers.

April 2000

On August 2, 1999, the completed PSNH Settlement Agreement was filed with the Public Utilities Commission (PUC). On April 19, 2000, the PUC approved the Settlement Agreement with conditions.

Electric Industry Restructuring Main Page /
Frequently Asked Questions / Settlement Summaries / Net Metering

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