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RSA 362-C:1 · Declaration of Purpose and Findings

Title: XXXIV: PUBLIC UTILITIES
Chapter: 362-C · REORGANIZATION OF PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE
Status: current
Official source linked: Yes

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362-C:1 Declaration of Purpose and Findings. – The legislature finds that:

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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.

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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.

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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.

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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.

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

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Source note

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

Source history

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

Related materials

Bill relationships

2026 HB1748 reference · effective 2027-01-01
rom time to time consistent with the purposes and provisions of this chapter to make loans to businesses under RSA 362-C:17, to make contributions to the loan guarantee fund under RSA 362-C:18, to pay or refund any bonds issued pursuant to this section or interest thereon, or to pay the costs and expenses of the authority. The principal of, and premium, if any, and interest on all bonds shall be payable sole
2026 HB1748 reference · effective 2027-01-01
o energy consumers. IV. The authority shall develop, and the board shall vote on, a detailed, triennial plan that includes the quantifiable performance metrics developed under RSA 362-C:11, II. The triennial plan must provide integrated planning, program design, and implementation strategies for all energy efficiency administered by the authority. The triennial plan must include provisions for the appli
2026 HB1748 reference · effective 2027-01-01
the authority shall encourage the development of resources, infrastructure, and skills within the state by giving preference to in-state service providers. III. Notwithstanding RSA 362-C:12, I, the authority may select a service provider for one or more energy efficiency programs, including low-income programs, without employing a competitive bidding process if the authority determines that the selection o
2026 HB1748 reference · effective 2027-01-01
t of cost-effective energy efficiency programs. The authority shall include the results of all evaluations conducted under this section in the annual report submitted pursuant to RSA 362-C:15. For purposes of this section, “major program” means a program with an annual budget of more than $500,000. 362-J:14 Financial Audits. The authority shall cause its accounts to be audited by an independent certifie
2026 HB1748 add · effective 2027-01-01
ction with any action taken under this section. 362-J:18 Guarantee Fund Established. In order to provide additional security to the state for any loan guarantees made under RSA 362-C:17 and bond guarantees under RSA 362-C:22, there is hereby established a loan guarantee reserve fund, which shall be held by the authority apart from all of its other funds, and which shall be deemed irrevocably pledged to
2026 HB1748-FN reference · effective 2027-01-01
o energy consumers. IV. The authority shall develop, and the board shall vote on, a detailed, triennial plan that includes the quantifiable performance metrics developed under RSA 362-C:11, II. The triennial plan must provide integrated planning, program design, and implementation strategies for all energy efficiency administered by the authority. The triennial plan must include provisions for the appli
2026 HB1748-FN reference · effective 2027-01-01
the authority shall encourage the development of resources, infrastructure, and skills within the state by giving preference to in-state service providers. III. Notwithstanding RSA 362-C:12, I, the authority may select a service provider for one or more energy efficiency programs, including low-income programs, without employing a competitive bidding process if the authority determines that the selection o
2026 HB1748-FN reference · effective 2027-01-01
t of cost-effective energy efficiency programs. The authority shall include the results of all evaluations conducted under this section in the annual report submitted pursuant to RSA 362-C:15. For purposes of this section, “major program” means a program with an annual budget of more than $500,000. 362-J:14 Financial Audits. The authority shall cause its accounts to be audited by an independent certifie
2026 HB1748-FN add · effective 2027-01-01
ction with any action taken under this section. 362-J:18 Guarantee Fund Established. In order to provide additional security to the state for any loan guarantees made under RSA 362-C:17 and bond guarantees under RSA 362-C:22, there is hereby established a loan guarantee reserve fund, which shall be held by the authority apart from all of its other funds, and which shall be deemed irrevocably pledged to
2026 HB1748-FN reference · effective 2027-01-01
rom time to time consistent with the purposes and provisions of this chapter to make loans to businesses under RSA 362-C:17, to make contributions to the loan guarantee fund under RSA 362-C:18, to pay or refund any bonds issued pursuant to this section or interest thereon, or to pay the costs and expenses of the authority. The principal of, and premium, if any, and interest on all bonds shall be payable sole