PUC will not reconsider Eversource deal for buying a portion of Northern Pass's power
CONCORD — Eversource has lost its bid to have the Public Utilities Commission reconsider its decision to reject a proposed power purchase agreement that would have allowed Eversource to buy some of Northern Pass’s power and offer it at a lower-than-market rate.
The PUC ruled last week that a proposed 20-year agreement with Hydro Renewable Energy was not "consistent with New Hampshire law."
Eversource announced last June it had reached an agreement with HydroQuebec (HQ) guaranteeing at least 100 megawatts from the proposed Northern Pass project would be available to New Hampshire consumers at lower-than-market prices.
Eversource cited the possibility of a power purchase agreement with HQ as one of the benefits of the controversial transmission project, which would run 192 miles from the Canadian border to Deerfield.
The PUC’s initial ruling said the proposal “goes against the overriding principle of restructuring, which is to harness the power of competitive markets to reduce costs to consumers by separating the functions of generation, transmission, and distribution.”
If approved, Northern Pass would bring 1,090 megawatts of electricity into the New England power grid. New Hampshire accounts for about 10 percent of the power used in New England, which is how negotiators arrived at the figure of 100 megawatts included in the proposed agreement.
The ruling can be viewed below: