New Hampshire Revised Statutes 362-C:1 – Declaration of Purpose and Findings
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The legislature finds that:
I. The health, safety and welfare of the people of the state of New Hampshire and orderly growth of the state’s economy require that there be a sound system for the furnishing of electric service.
II. The bankruptcy of the state’s largest electric utility, Public Service Company of New Hampshire, has threatened the adequacy, reliability and cost of electric service.
III. The present and predicted growth in electric service demands in the state of New Hampshire requires a prompt resolution of the bankruptcy and reorganization of Public Service Company of New Hampshire.
IV. For the reasons stated in paragraphs I-III, the public utilities commission should be authorized to determine whether a proposed agreement relating to the reorganization of Public Service Company of New Hampshire and, upon receipt of required regulatory approvals, the acquisition of Public Service Company of New Hampshire by Northeast Utilities, would be consistent with the public good and whether the rates for electric service to be established in connection with the reorganization are just and reasonable and should be approved.
V. In addition, the public utilities commission should be authorized to determine whether to implement a similar rate plan for the New Hampshire Electric Cooperative, Inc., in order to avoid a bankruptcy by that utility.
I. The health, safety and welfare of the people of the state of New Hampshire and orderly growth of the state’s economy require that there be a sound system for the furnishing of electric service.
Terms Used In New Hampshire Revised Statutes 362-C:1
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- commission: as used in this title , means the public utilities commission. See New Hampshire Revised Statutes 362:1
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
II. The bankruptcy of the state’s largest electric utility, Public Service Company of New Hampshire, has threatened the adequacy, reliability and cost of electric service.
III. The present and predicted growth in electric service demands in the state of New Hampshire requires a prompt resolution of the bankruptcy and reorganization of Public Service Company of New Hampshire.
IV. For the reasons stated in paragraphs I-III, the public utilities commission should be authorized to determine whether a proposed agreement relating to the reorganization of Public Service Company of New Hampshire and, upon receipt of required regulatory approvals, the acquisition of Public Service Company of New Hampshire by Northeast Utilities, would be consistent with the public good and whether the rates for electric service to be established in connection with the reorganization are just and reasonable and should be approved.
V. In addition, the public utilities commission should be authorized to determine whether to implement a similar rate plan for the New Hampshire Electric Cooperative, Inc., in order to avoid a bankruptcy by that utility.