Eversource 2003 Annual Report Download - page 16

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Our Northfield Mountain Station, a pumped storage
hydroelectric generating plant, in Northfield, Massachusetts,
played a pivotal role in restoring the regional electric grid
for customers after the widespread August 14 blackout.
When it was time to reconnect New England with the rest
of the eastern interconnection, the link was made at our
competitive business’ Northfield Mountain Station, owned
by Northeast Generation Company. The facility was selected
because of its important location in the path between
New England and New York and its ability to synchronize
the two electrical grids and make changes in frequency
and voltage.
14
At Yankee Gas, we are constructing a 1.2 billion cubic foot
liquefied natural gas storage facility in Waterbury, Connecticut.
When completed, this new facility will mean cost savings for
customers as well as greater flexibility and security of natural gas
supply for all of our customers in Connecticut. With the DPUC’s
final approval, we expect to break ground in the fall of 2004.
Strong sales efforts by our competitive businesses resulted in an
unprecedented level of contracts and project commitments at
year-end, providing the strong foundation of revenues and
profitability necessary to achieve 2004 earnings targets. Select
Energy’s wholesale group enjoyed an especially active fall selling
season, successfully bidding on a number of major electric
contracts totaling more than $900 million in projected revenues.
Integrity, stewardship
Our business integrity and devotion to area stewardship reflect
our deep, long-term commitment to those we serve. Paramount
to us is clear and complete financial disclosure, and full compliance
with Sarbanes-Oxley requirements. To that end, the Board of
Trustees’ committees follow enhanced charters, employees
adhere to a stringent code of ethics, and we thoroughly evaluate
our business risks to ensure appropriate Internal Controls are in
effect across the company.
We further demonstrate our values in community service, which
has been a long-standing tradition at Northeast Utilities. Through
meaningful and strategic partnerships, programs and services,
along with NU Foundation grants, we support education, civic and
community enrichment, environmental stewardship, human
services, and culture and the arts.
In the environmental arena, we are particularly proud of the
unique “renewables” aspect of a major Select Energy contract
with the U.S. General Service Administration’s facilities in New
York. The multi-year agreement includes wind power for two
facilities making them the first federal facilities to be entirely
powered by wind-generated electricity.
In March 2003, eight NU facilities and processes received
certification to ISO 14001, an international standard promoting
continual improvement in environmental performance. This
achievement demonstrates our leadership and accountability for
responsible environmental action – to regulators, customers
and the communities we serve. Additional facilities have been
scheduled for ISO 14001 review in 2004.