When Électricité de France stepped in to buy Constellation Energy’s nuclear assets and help the company avoid bankruptcy, the Maryland Public Service Commission conditioned the sale on a set of...
district court, see www.psnh.com/restruct/ord297.htm.)
Lawyer Andrew Weissman argued the case against PSNH. He zeroes in on the language in the agreement.
"PSNH has taken a few words and quoted them out of context. When you read the document from a lawyer's standpoint, it isn't a contract. The governor pledged only that he would pursue legislation to give rate relief to PSNH for seven years.
"NU got its legislation enacted, which says, in effect: Here's what the rates are for seven years. At the end of that time, the NH PUC gets back its ratemaking authority and can take the acquisition premium into account. Is this a contractual promise to get back the entire premium? No."
The supreme court was expected to rule by July 1, the original deadline for the PUC to bring electric competition to New Hampshire.
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