PUC report faults 'status quo' of PSNH plant ownership
The report recommends that the PUC open a proceeding to answer questions about Public Service of New Hampshire's ownership of generation plants and the utility's rates, which are consistently higher than competitors, the report said.
"In fact, PSNH's generating plants have provided more than $700 million in savings to its customers over the past decade. The plants ran during the first quarter of this year during periods of high demand and were called upon as recently as last week to provide much-needed electricity supply during a multi-day heat spell," the PSNH statement said.
"The default service rates of PSNH have been above the default service prices of New Hampshire's other electric utilities for the last four years, and that disparity has grown to over 2 cents per kWh recently. The belief that the PSNH 'physical hedge' may someday be 'in the money' again as it was in the early years after electric restructuring is not supported by our analysis and PSNH provided no analysis or forecasts that would allow one to reach that conclusion.
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