AlGONQUIN POWER INCOME Fund (APIF) has completed agreements with the Public Service Company of New Hampshire (PSC) of the US for the renegotiation of the pricing terms of the power it sells to PSC from 13 small hydroelectric facilities.
These facilities are indirectly owned by APIF in New Hampshire. As consideration for a reduction in the above market rates in the current agreements, APIF will receive, subject to certain adjustments, US$21.9M. After completion of this transaction, PSNH will continue to buy the energy produced by these generating stations at the New England power pool market price.
The energy assets owned by the Fund have been consolidated into three operating divisions reflecting the common characteristics of the assets classes: the Hydroelectric Division holds direct and indirect equity interests in 47 hydroelectric generating facilities .