§ 362-C:1 — Declaration of Purpose and Findings

The legislature finds that:
I. The health, safety and welfare of the people of the state of New Hampshire and orderly growth of the state's economy require that there be a sound system for the furnishing of electric service.
II. The bankruptcy of the state's largest electric utility, Public Service Company of New Hampshire, has threatened the adequacy, reliability and cost of electric service.
III. The present and predicted growth in electric service demands in the state of New Hampshire requires a prompt resolution of the bankruptcy and reorganization of Public Service Company of New Hampshire.
IV. For the reasons stated in paragraphs I-III, the public utilities commission should be authorized to determine whether a proposed agreement relating to the reorganization of Public Service Company of New Hampshire and, upon receipt of required regulatory approvals, the acquisition of Public Service Company of New Hampshire by Northeast Utilities, would be consistent with the public good and whether the rates for electric service to be established in connection with the reorganization are just and reasonable and should be approved.
V. In addition, the public utilities commission should be authorized to determine whether to implement a similar rate plan for the New Hampshire Electric Cooperative, Inc., in order to avoid a bankruptcy by that utility.

Legislative History

1989S, 1:1, eff. Dec. 18, 1989.