GPU has signed an agreement with the State of Maryland in the US to separate the sale of Deep Creek Lake from the divestiture of the utility’s generation assets.
According to the MOU signed by both parties, GPU and Maryland will enter into exclusive negotiations for the sale of the site that includes Deep Creek Lake and possibly the 134m Deep Creek dam. The 18MW Deep Creek hydroelectric station, powered by water from the lake, will remain part of GPU’s auction sale of fossil and hydroelectric generation assets.
Bonneville Power Administration (BPA) has closed deals for another 202MW of hydro power sales for 2002-6, adding another US$35M a year to revenues it can count on after the turn of the century. BPA has now sold roughly 865MW of power for 2002-6, securing about US$150M a year in revenues.