Electric Industry Restructuring » Representative Transactions

NU
Electric utility restructuring
Connecticut, Massachusetts and New Hampshire

Representation of NU in electric utility restructuring matters in Connecticut, Massachusetts and New Hampshire. Responsible for legal issues associated with the negotiation and drafting of Connecticut's 154-page retail electric restructuring legislation (P.A. 98?28), and assisting The Connecticut Light and Power Company ("CL&P") in all significant aspects of compliance with the provisions of that legislation, including legal and economic issues affecting nuclear plant ownership and divestiture.

Connecticut Department of Public Utility Control's ("DPUC") Stranded Cost Docket No. 99-02-05
Recovery of $1.7 billion of stranded nuclear generating assets
Connecticut

Representation of CL&P in the Connecticut Department of Public Utility Control's ("DPUC") Stranded Cost Docket No. 99-02-05, to obtain recovery of $1.7 billion of stranded nuclear generating assets as part of restructuring of the state's electric utility industry including supervision of creation of discounted cash flow models of future nuclear capital and operating cash flows and expected market revenues, evaluation of all existing comparable sales data for nuclear generating facilities, identifying for the DPUC the potential market value of CL&P's ownership interests in Millstone 2, Millstone 3 and Seabrook as merchant plants, and establishing minimum bids for each of those units in preparation for their required auction under the restructuring legislation.

NEPOOL
Creation and implementation of an open access transmission tariff
New England

Representation of NEPOOL in connection with the creation and implementation of an open access transmission tariff for New England; the establishment of an Independent System Operator; the formulation of a congestion management system; and the development of competitive wholesale markets for electric energy, capacity and ancillary services.

Public Utilities Commission of Texas
Texas restructuring
Texas

Representation of the Public Utilities Commission of Texas in complex matters relating to Texas restructuring, including providing key counsel on the drafting of retail access legislation and regulations, litigation support to ensure reasonable recovery of stranded costs, representation of parties in restructuring proceedings, and counsel related to standard offer service, the recovery and securitization of stranded costs and the divestiture of generation assets.

ISO New England, Inc.
General and regulatory counsel
New England

Representation of and general and regulatory counsel to ISO New England, Inc., the nonprofit entity that serves as the independent system operator of the New England electric grid and the administrator of associated energy and reliability markets.