Northeast Utilities
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| Type | Public (NYSE: NU) |
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| Industry | Electric Utilities |
| Founded | 1966 |
| Headquarters | Berlin, Connecticut, USA |
| Area served | Connecticut, Western Massachusetts, New Hampshire |
| Key people | NU is governed by an 8-member Board of Trustees. Elizabeth T. Kennan, Lead Trustee[1] |
| Products | generation, transmission and distribution |
| Website | www.nu.com, CL&P - www.cl-p.com WMECO - www.wmeco.com PSNH - www.psnh.com |
Northeast Utilities (NYSE: NU) is a publicly-traded, Fortune 500 energy company headquartered in Berlin, Connecticut, with several regulated subsidiaries offering retail electricity and natural gas service to more than 2.1 million customers in New England.
NU is New England's largest public utility, with more than 3,140 circuit miles of electric transmission lines, 32,802 pole miles of distribution lines throughout the region, and a natural gas distribution system encompassing 2,088 square miles (5,000 km2) in Connecticut.[2]
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[edit] History
NU was formed on July 1, 1966, with the merger of Connecticut Light and Power Company (CL&P), Western Massachusetts Electric Company (WMECO), and The Hartford Electric Light Company under a single parent company, creating the first new multi-state public utility holding company since the enactment of the Public Utility Holding Company Act of 1935. In 1967, Holyoke Water Power Company (HWP) joined the NU System, followed by the Public Service Company of New Hampshire (PSNH) in 1992.[3]
In October 2010, Northeast Utilities announced that it would merge with NSTAR, with the resulting company retaining the Northeast Utilities name. The deal is subject to regulatory approval.[4]
[edit] Corporate Structure
Northeast Utilities has four main subsidiaries. These are CL&P, PSNH, WMECO, and Yankee Gas Services Company (Yankee Gas).
CL&P is Connecticut's largest electric utility, serving more than 1.1 million customers. This subsidiary serves residential, municipal, commercial and industrial customers in approximately 149 cities and towns.
PSNH is New Hampshire's largest electric utility, serving more than 475,000 homes and businesses throughout the state. This subsidiary owns three fossil fuel-fired generating plants and nine hydroelectric facilities, jointly capable of generating more than 1,110 megawatts of electricity.
WMECO is a main distributor of electricity in western Massachusetts, serving more than 200,000 customers.
Yankee Gas is Connecticut's largest natural gas distribution company, delivering natural gas to approximately 200,000 customers in approximately 71 cities and towns. This subsidiary delivers natural gas to thousands of Connecticut homes for heating, hot water, cooking (indoors and outdoors), fireplaces and outdoor lighting.
In November 2005, the company announced it would sell its unregulated competitive businesses, including generation and energy services. In November 2006 the company had essentially completed the divestiture of its competitive businesses.[citation needed]
[edit] HVDC transmission
Northeast Utilities has signed on a joint venture with Hydro-Québec and NSTAR to build a new High-voltage direct current (HVDC) line from Windsor, Quebec (connecting with the Quebec grid) to a location in central New Hampshire. It is projected that the line will either run in existing right-of-way adjacent to the HVDC line that runs through New Hampshire, or it will connect to a right-of-way in northern New Hampshire that will run through the White Mountains. This 180- to 190-mile line, projected to carry 1,200 megawatts, will carry electricity to approximately one million homes.[5] The issue of buying hydroppower from Hydro-Québec has been an issue during the Massachusetts gubernatorial election of 2010.[6]
[edit] References
- ^ Northeast Utilities Corporate Governance
- ^ Northeast Utilities. "NU Facts". Northeast Utilities. http://www.nu.com/aboutnu/nufacts.asp. Retrieved 2010-10-19.
- ^ Northeast Utilities (2001). "Celebrating our 35th Anniversary: Diversity Fuels our Success". pp. 2-3. http://www.nu.com/aboutnu/35th_Anniversary_booklet.pdf. Retrieved 2010-10-19.
- ^ Ailworth, Erin (18 October 2010). "NStar and Northeast Utilities agree to merger". Boston Globe. http://www.boston.com/business/ticker/2010/10/northeast_utili_2.html. Retrieved 2010-10-18.
- ^ Porter, Louis (19 December 2008). "Utilities plan for N.E. expansion". Rutland Herald. http://www.rutlandherald.com/article/20081219/NEWS03/812190315/1004/NEWS03. Retrieved 2009-05-09.
- ^ Daley, Beth (23 October 2010). "Canadian firm offers N.E. more hydropower". Boston Globe. http://www.boston.com/news/local/massachusetts/articles/2010/10/23/canadian_firm_offers_ne_more_hydropower/?page=full. Retrieved 2010-10-24.
[edit] See also
1. Kobak, Steve. "46 years after breaking color barrier, NU's first black lineman retires." The Norwalk Hour. Published 5/9/2009. http://www.thehour.com/story/469152/
