New Bid for Seabrook Owner: New England...
New Bid for Seabrook Owner: New England Electric System of Westboro, Mass., became the second bidder for Public Service Co. of New Hampshire, making an offer it says would be worth $2.35 billion if the Seabrook nuclear power plant operates commercially and $1.4 billion if it doesn’t. Public Service, the lead Seabrook owner with a 36% share of the $5.9-billion project, sought protection under the bankruptcy laws 14 months ago because of licensing delays. In January, Connecticut-based Northeast Utilities, New England’s largest power company, announced a bid that it said would be worth $2 billion if Seabrook runs and $1.2 billion if it doesn’t.
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