The firm, which was formerly known as the Public Service of New Hampshire (PSNH), will sell three fossil fuel and nine hydroelectric power plants in the state, including the Merrimack Station in Bow.
Besides the 55-year old facility, the sale will also include other old facilities such as the Newington Station which has been operating since 1974 and Schiller Station in Portsmouth, which has entered service in 1952.
State consumer advocate Susan Chamberlin said: "This agreement provides significant savings for residential ratepayers and resolves outstanding disputes without protracted litigation."
The deal will be able to relieve the customers from paying for operation and maintenance of the aging power facilities. It will also resolve the utility’s three ongoing dockets at the New Hampshire Public Utilities Commission, which includes the legal battle over the installed scrubber at the Merrimack Station.
The auction sale still awaits approval from the New Hampshire Public Utilities Commission.
The agreement will involve establishment of a Clean Energy Fund with investments worth $5m from Eversource shareholders. The fund will be used to drive energy efficiency and for distributed generation projects.
