With N.H. Hydro Sale Done, Eversource Completes Deregulation

Aug 27, 2018

The largest former Eversource facility in the sale is the 16-megawatt Amoskeag Hydro Dam, in Manchester.
Credit Public Service of New Hampshire

Eversource has finished selling off its hydroelectric dams. This marks the end of New Hampshire's years-long electric restructuring process.

That effort, also known as deregulation, sought to lower rates and increase competition by separating power generation from distribution.

As part of restructuring, Eversource agreed in 2015 to sell its fossil fuel-fired power plants and hydro dams in New Hampshire.

The utility got state approval last fall for a combined sale price of $258 million, and finished selling its fossil fuel plants soon after.

Now, Eversource has completed the sale of about 68 megawatts of hydropower dams to a Maryland-based investment firm, Hull Street Hydro.

The company has agreed to keep the nine dams -- including Amoskeag Hydro in downtown Manchester and Ayers Island Hydro in Bristol, the two largest of the group -- running for at least 18 months.

Hydropower dams like these provided seven percent of New England's energy in 2017, nearly as much as all other renewables combined.