Whitefield: Northern Pass Avoids Profit Questions During Second SEC Hearing
Motions To Intervene Must Be Filed By Feb. 5
By Robert Blechl,
Staff WriterWHITEFIELD -- While Eversource executives continue to tell their shareholders a consensus is building around Northern Pass, a different story is playing out in the North Country, where opposition, after five years, remains just as fierce.
That opposition, turning out Wednesday for a N.H. Site Evaluation Committee information session at the Mountain View Grand, is pushing Eversource to state how much profit the company stands to gain through the transmission line they say would be subsidized through negative impacts to property values and the region's tourist industry.
Talk of profit is one thing Eversource, partner with Hydro-Quebec and parent company of Northern Pass, has shied away from, and Wednesday was no exception.
During a question-and-answer session, Eversource NH President Bill Quinlan said, "It's technically possible to bury the entire line," a statement that drew robust applause from opponents of overhead lines and towers.
But full burial would add about a billion dollars to the currently estimated $1.6 billion project and make it "uneconomical," he said.
"We, along with our partners, are not willing to go forward with a project that costs a billion more," he said.
Quinlan did not give a profit threshold below which Eversource will not go and declined to say if Hydro-Quebec will pay all or or most of the development costs in N.H. and how much the two companies would make in profit and revenue.
Friday, January 22, 2016
Northern Pass Avoids Profit Questions
Posted by NH Jean at 6:23 AM