369-B:1 Declaration of Purpose and Findings. – The general court finds that: I. The restructuring of electric utilities to allow retail electric competition and less costly regulation is in the public interest. New Hampshire is implementing such restructuring to create retail customer choice, which will provide retail electric service at lower costs. II. The […]
369-B:2 Definitions. – In this chapter: I. " April 19 order " means commission Order No. 23,443 in Docket DE 99-099 as it was issued on April 19, 2000, excluding any subsequent amendments. II. " Commission " means the public utilities commission established in RSA 363, as it may be constituted from time to […]
369-B:3 Authority to Issue Finance Orders to Finance RRB Costs. – I. The commission is authorized, upon the petition of an electric utility and after a hearing, to issue one or more finance orders pursuant to which rate reduction bonds shall be issued, if the commission finds that the issuance of such finance order […]
369-B:3-a Divestiture of PSNH Generation Assets; Review of 2015 Settlement Proposal. – I. The general court finds that divestiture of PSNH’s generation plants and securitization of any resulting stranded costs pursuant to RSA 369-B:3, IV(c) is in the public interest, subject to the provisions of paragraph III. II. As part of an expedited proceeding, […]
369-B:3-b Employee Protections. – In the event of divestiture or retirement of any or all of PSNH’s generation assets, employee protections no less than those set forth in the then-current collective bargaining agreement shall be provided to affected employees. Source. 2014, 310:3, eff. Sept. 30, 2014. 2015, 221:11, eff. July 9, 2015.
369-B:4 Establishment of RRB Charge to Recover RRB Costs. – I. A finance order shall establish and place into effect one or more RRB charges that the commission shall determine to be just and reasonable, including any provisions for subsequent adjustments thereto, that shall provide for the collection of revenues from retail customers of […]
369-B:5 Issuance of Rate Reduction Bonds. – I. An electric utility or financing entity may, from time to time, after approval by the commission in a finance order or orders, issue rate reduction bonds. The power and authority of such electric utility or financing entity to issue such bonds authorized by a finance order […]
369-B:6 Creation, Assignment, and Pledge of RRB Property. – I. The RRB charge shall constitute RRB property when, and to the extent that, a finance order authorizing such RRB charge has become effective in accordance with this chapter, and the RRB property shall thereafter continuously exist as a current and irrevocable vested property right […]
369-B:7 Security Interests in RRB Property. – I. To the extent the provisions of this section conflict with Article 9 of RSA 382-A, this section shall apply. II. A security interest in RRB property is valid, is enforceable against the pledgor and third parties, subject to the rights of any third parties holding security […]
369-B:8 Successors to Electric Utilities. – Any successor to an electric utility, whether pursuant to any bankruptcy, reorganization, or other insolvency proceeding, or pursuant to any merger, sale, or transfer, by operation of law, or otherwise, shall perform and satisfy all obligations of the electric utility with respect to rate reduction bonds in the […]
369-B:9 Severability. – If any provision of this chapter, or the application thereof to any person or circumstance, is held invalid, such invalidity shall not affect other provisions or applications of this chapter, and to that end, the provisions of this chapter are declared to be severable. Each section of this chapter shall be […]
