Eversource 1999 Annual Report Download - page 20

Download and view the complete annual report

Please find page 20 of the 1999 Eversource annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 60

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60

BOLSTERING OUR FRAMEWORK, BUILDING OUR BUSINESS
Formed in 1999, our Northeast Generation Company (NGC) subsidiary purchased 1,289 MW
of hydroelectric and pumped storage generating assets through CL&P’s and WMECO’s auctions.
These assets include our Northfield Mountain hydroelectric facility, which will have its power
output marketed by Select Energy.
Also formed in 1999, Northeast Generation Services Company (NGS) leveraged many years
of power plant experience to provide a full range of industrial and consulting services totaling
$5.2 million in revenue in its initial year of operation. For 2000, NGS has set goals of earning
$45 million in revenue and having a positive contribution to earnings in its first full year
of existence.
NGS has contracts to manage and operate stations, including the hydroelectric
facilities purchased by NGC in the CL&P auction, and the fossil fuel and hydroelectric
assets of the Holyoke Water Power Company (HWP).
The customer base for industrial and consulting services is bolstered by
large industrial and commercial facilities, and the NGC and HWP plants,
Millstone Station, and generating facilities not owned by NU.
Across the spectrum of our unregulated competitive operations, we are
building on the strengths of our regulated core businesses. We are finding that
while deregulation has dramatically changed the landscape of our business, it
has unleashed an abundant amount of creativity throughout our organization.
As we make the transition to our merger with Consolidated Edison, this
same creative energy will sustain us and further our vision of being the leading
provider of energy products and services in the Northeast.
18
With a combined 1,080 MW of pumped
storage capacity and 59 MW of run of
river hydroelectric power, Northeast
Generation Company’s Northfield
Mountain facility produces enough
electric power to supply the energy
needs of thousands of customers
throughout the region.