ELECTRIC INDUSTRY RESTRUCTURING
Public Service Company of New Hampshire (PSNH) Restructuring
May 1st is "C-Day," the day that competition among energy
suppliers can occur in PSNHs 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.
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.
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 utilitys generation facilities.
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.
On September 8, 2000 after consideration of PSNHs Motion for Rehearing, the PUC
issued an Order approving
PSNHs Restructuring Settlement Agreement and an Order on Financing.
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 States
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.
Restructuring Main Page /
Frequently Asked Questions / Settlement
Summaries / Net Metering
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