J.P. Morgan & Co. will handle the auction of the non-nucleargeneration assets of Connecticut Light and Power Co. (CL&P), awholly owned subsidiary of Northeast Utilities, headquartered inBerlin, CT. The assets to be disposed of consist of 29 powerplants. CL&P’s power purchase agreements will be auctionedseparately in the near future.

CL&P will divest its generating assets in accordance withPublic Act 98-28, An Act Concerning Electric Restructuring, whichwill bring electric retail competition to Connecticut beginning in2000.

The power plants, located throughout Connecticut and in westernMassachusetts, include 15 fossil plants, representing a combinedinstalled capacity of 2,493 MW, and 3 Hydro systems, comprised of13 hydro plants and one fossil plant, representing a combinedinstalled capacity of 1,329 MW. The hydroelectric capacity beingsold includes the 1,179 MW Northfield Mountain System.

The bidding for the assets will be conducted in two rounds. J.P.Morgan intends to identify a final, qualified buyer or buyers forthe power plants and arrange for the signing of final purchasecontracts by mid-1999. Those interested in bidding on the assetsshould contact John Lynch of J.P. Morgan at (212) 648-8210.

CL&P is a wholly owned subsidiary of Northeast Utilities,the parent of a number of companies comprising the NortheastUtilities System. The NU System, which also includes Public ServiceCo. of New Hampshire and Western Massachusetts Electric Co. hastraditionally furnished franchised retail electric service inConnecticut, New Hampshire, and western Massachusetts.

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