Why is CVEC selling its franchise and assets to PSNH?
For some time, the State of New Hampshire and CVEC have been engaged in complex and costly litigation concerning the implementation of industry restructuring for CVEC. CVEC is the only non-municipal electric utility in New Hampshire that has not yet achieved a deregulation plan. Moreover, CVEC customers pay some of the highest rates in the state as a result of expensive long-term power purchase obligations. CVEC’s sale of its franchise and assets to PSNH resolves both issues.
