NU sells competitive generation units

July 25, 2006

NH Business Review Staff,

Northeast Utilities has sold its competitive generation businesses in Massachusetts and Connecticut to Energy Capital Partners of New Jersey.

Sale price was $1.34 billion, including the transfer of $320 million in debt.

The deal includes 15 generating plants at 14 sites — the largest of which, Northfield Mountain in Northfield, Mass. — generates 1,080 megawatts.

The agreement also includes Mt. Tom Station in Holyoke, Mass., a 146-megawatt coal-fired plant.

Company officials say the sale is expected to close by the end of the year.

According to the utility’s financial reports, NU – parent company of Public Service of New Hampshire — decided last November to sell off its the retail marketing and competitive generation businesses of its NU Enterprises subsidiary in November 2005. — CINDY KIBBE

Categories: News

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