Eversource agrees to sell power plants

Eversource Energy (formerly PSNH) has agreed to sell its power plants as part of a settlement agreement with the state.

In return, Eversource Energy will be able to recover any losses on the power plants through electricity rate increases.  Those losses include most of the cost to install a controversial mercury pollution scrubber at the coal power plant in Bow.

The settlement agreement must be approved by the Public Utilities Commission (PUC) and the state legislature. 

If approved, the settlement will have a complicated impact on electricity rates, dependent on the sale price of the power plants and the price of electricity on the open market.

Electricity from Eversource Energy's aging power plants is typically more expensive than electricity on the open market, due in part to the relatively low price of natural gas.  However, in the past Eversource Energy argued that its power plants provide much-needed diversity in New Hampshire's energy supply.

Do you have an opinion on the settlement with Eversource Energy?  Do you think it is fair to force the company to sell its power plants, and in return charge ratepayers for any losses?  Post your comments below.