WEBVTT >> WELCOME TO NEW HAMPSHIRE'S BUSINESS, I'M FRED KOCUR. AS YOU MAY KNOW, THIS PAST WEEK EVERSOURCE, THE BIG ONE IN NEW HAMPSHIRE, SOLD ITS POWER PLANTSAND THAT'S GOING TO IMPACT COST OF ELECTRICITY TO CUSTOMERS. LOOK WHAT HAPPENED. SALE OF THE EVERSOURCE, THREE FOSSIL FUEL PLANTS AND TWO CUSTOM TURBINES, BOUGHT BY A CONNECTICUT COMPANY, $75 MILLION. AND ONE SOLD FOR $83 MILLION. HERE ARE CHANGES IN COST. 7.80 A MONTH DECREASE IF THEY USE 600 KILOWATT HOURS. NORMAL USE IN THE HOME IS ABOUT 900. INDEPENDENT POWER SUPPLY CUSTOMERS $4.20 A MONTH INCREASEIF THEY USE 600 KILOWATT HOURS AND THEN FINALLY THE NUMBER OF CUSTOMERS AFFECTED, EVERSOURCE513,000 AND THEN THE INDEPENDENTS WITH THE UPPER NUMBER. AND SOMEBODY WHO KNOWS THIS A CONSUMER ADVOCATE.>> GREAT TO BE HERE.>> NICE TO HAVE YOU.>> BEFORE WE TALK ABOUT WHEN IT'S GOING TO IMPACT. THE DECISION TO SELL EVERSOURCE PLANTS CAME FROM THE PUBLIC POLICY AND LET ME LIST THIS, IT WAS AN AMAZING COALITION AS YOU KNOW. THE NEW HAMPSHIRE OFFICE OF ENERGY AND PLANNING, IN ADDITIONTO THE COMPANY. NEW HAMPSHIRE PUBLIC UTILITIES COMMISSION. STATE SENATORS BRADLEY AND FELTS. THE COUPLE OF COMPANIES, AND YOUR OFFICE.>> IT'S TAKEN US 21 YEARS TO GETHERE. BECAUSE THEY FIRST ADOPTED THIS,AND WE COME TO THIS POINT WHERE WE'RE GOING TO FINISH.>> THIS IS THE END OF DEREGULATION, ISN'T IT?>> IT'S TAKEN US 21 YEARS.>> THE COSTS WE RATTLED OFF AND THE DECREASE OF 7.80, IF YOU USE6 600 AND 900 ACROSS THE COUNTRY, IS THIS FOR HOME AND BUSINESS?>> YES, BECAUSE OF THE PLANTS THAT THEY OWN, THEY TOOK ENERGY SERVICE FROM EVERSOURCE AND THEY'LL BE THERE AND THAT ACCOUNTS FOR THE RATES DECREASE THAT YOU MENTIONED.>> FOR THE INDEPENDENT SUPPLIERSWHO USE EVERSOURCE TO TRANSMIT THE ENERGY TO THEIR CUSTOMERS, RIGHT, AN INCREASE OF $420 A MONTH. WHY THE INCREASE?>> WELL, BECAUSE THERE ARE CERTAIN COSTS AND THE BOOK VALUE, THE MARKET VALUE OF THESEPLANTS IS LESS THAN THE BOOK VALUE. HOW MUCH EVERSOURCE INVESTED IN THEM. SO WHAT HAPPENS, UNFORTUNATELY, IS THAT RATE PAYERS ARE GOING TOHAVE TO EAT MOST OF THE DIFFERENCE BETWEEN THE BOOK VALUE OF THE PLANTS, WHAT EVERSOURCE INVESTED AND WHAT THEBUYERS BOUGHT IT FOR.>> SOME OF THE THOSE.>> THINK ENERGY, NORTH AMERICAN POWER, THERE'S A COMPANY CALLED FAIR POINT, WHICH IS NOT THE SAME AS THE PHONE COMPANY CALLEDFAIR POINT.>> AND THE NEW RATES WHEN.>> THE TRANSACTION IS SUPPOSED TO BE APPROVED JANUARY 1ST, FROMTHE PUBLIC COMMISSION, AND THE NEW RATES IN EFFECT THEN.>> WHAT HAPPENS TO THE JOBS BY THE NEW OWNERS.>> THE NEW OWNERS AGREED TO KEEPEVERYBODY IN PLACE FOR 18 MONTHS.>> 18 MONTHS AND THEN IT'S UP TOTHE OWNERS WHAT TO DO. EVERSOURCE WILL NOW BUY ENERGY ON THE WHOLESALE MARKET?>> YES, JUST LIKE THE OTHER UTILITIES, TRY TO GET THE BEST DEAL.>> I UNDERSTAND THERE'S $5 MILLION SET ASIDE FOR A CLEAN ENERGY FUND, WHICH IS SIGNIFICANT?YES, INDEED. THAT'S THE SETTLEMENT AGREEMENT THAT YOU TALKED ABOUT. EVERSOURCE AGREED ABOUT $25 MILLION FOR THE MERCURY SCRUBBERAT MERRIMACK AND BOW AND AGREED FOR THIS FUND.>> THIS SALE DOES AFFECT PROPERTY TAX PAYMENTS IN THE COMMUNITIES WHERE THE POWER PLANTS ARE LOCATED. WHAT'S HAPPENING THERE?>> OBVIOUSLY, I THINK THE VALUATION OF THE PLANTS IS GOINGDOWN BECAUSE OF THE AMOUNT THEY'RE SELLING FOR, I GUESS IS THEIR AMOUNT MARKET VALUE, LESS THAN THEIR BOOK VALUE, AS I MENTIONED, AND THAT'S GOING TO IMPACT PROPERTY TAX PAYMENTS IN THE HOST COMMUNITIES.>> TO SAY IT AGAIN, THIS ENDS THE SALE OF THE NEW HAMPSHIRE ELECTRICITY MARKET FOR 21 YEARS?>> 21 YEARS.>> I WANT TO THANK DONALD, THE