Public Service Co Of New Hampshire

Public Service Co. of New Hampshire, the first major investor-owned utility to seek bankruptcy protection since the Depression, must file its reorganization plan with a federal judge today. The utility has said it probably will seek regulation enabling it to charge its 360,000 ratepayers for its 36% share in the stalled $5.7-billion Seabrook nuclear plant.

Opponents of the Seabrook nuclear power plant won a preliminary legal battle Monday in their effort to raise financial issues as an obstacle to a full-power license for the New Hampshire facility. A Nuclear Regulatory Commission licensing board ruled favorably on a request by Massachusetts Atty. Gen. James Shannon that the commission consider reviewing the financial stability of Public Service Co. of New Hampshire, the operator of Seabrook. Public Service Co. is bankrupt.

The Nuclear Regulatory Commission cleared the way Wednesday for the $5.7-billion Seabrook, N. H., plant to be licensed for low-power testing and ruled that the Pilgrim reactor in Massachusetts, shut down for almost three years, may resume operations. Massachusetts Gov. Michael S. Dukakis called the decisions irrational and irresponsible. He filed a suit asking the federal appeals court in Boston to block the restarting of the Pilgrim plant. Lando W. Zech Jr.

New England's largest electricity company, Connecticut-based Northeast Utilities, said Thursday it offered to acquire bankrupt Public Service Co. of New Hampshire in a plan valued at $2 billion. Analysts said the proposal, which put a higher price on the New Hampshire utility than the value determined by state regulators, could spark heated bidding between as many as 11 utilities.

New England's largest electricity company, Connecticut-based Northeast Utilities, said Thursday it offered to acquire bankrupt Public Service Co. of New Hampshire in a plan valued at $2 billion. Analysts said the proposal, which put a higher price on the New Hampshire utility than the value determined by state regulators, could spark heated bidding between as many as 11 utilities.

Public Service Co. of New Hampshire on Tuesday filed a bankruptcy reorganization plan that would leave it federally regulated and able to charge ratepayers for its Seabrook nuclear plant whether or not the reactor ever operates. The company said it will seek rate increases of 30% to 40% over three to five years.

Public Service Co. of New Hampshire, the first major investor-owned utility to seek bankruptcy protection since the Depression, must file its reorganization plan with a federal judge today. The utility has said it probably will seek regulation enabling it to charge its 360,000 ratepayers for its 36% share in the stalled $5.7-billion Seabrook nuclear plant.

Public Service Co. of New Hampshire on Tuesday filed a bankruptcy reorganization plan that would leave it federally regulated and able to charge ratepayers for its Seabrook nuclear plant whether or not the reactor ever operates. The company said it will seek rate increases of 30% to 40% over three to five years.

Opponents of the Seabrook nuclear power plant won a preliminary legal battle Monday in their effort to raise financial issues as an obstacle to a full-power license for the New Hampshire facility. A Nuclear Regulatory Commission licensing board ruled favorably on a request by Massachusetts Atty. Gen. James Shannon that the commission consider reviewing the financial stability of Public Service Co. of New Hampshire, the operator of Seabrook. Public Service Co. is bankrupt.

The Nuclear Regulatory Commission cleared the way Wednesday for the $5.7-billion Seabrook, N. H., plant to be licensed for low-power testing and ruled that the Pilgrim reactor in Massachusetts, shut down for almost three years, may resume operations. Massachusetts Gov. Michael S. Dukakis called the decisions irrational and irresponsible. He filed a suit asking the federal appeals court in Boston to block the restarting of the Pilgrim plant. Lando W. Zech Jr.

A Massachusetts utility company has begun talks aimed at taking over troubled Public Service Co. of New Hampshire, but not its 36% share of the stalled Seabrook nuclear plant, officials said Tuesday. Public Service, the lead Seabrook owner, sought federal bankruptcy protection last month. The proposed takeover by New England Electric System, based in Westborough, Mass.