Power New England, the electricity supplier that was kicked out of the regional market for not
paying its bills, has proposed a settlement with regulators. The company has agreed to reimburse customers for the confusion its hasty exit from the market caused. The settlement proposes cutting $9.50 checks to the roughly 7,300 former PNE customers who were switched to Public Service of New Hampshire. In all the payments will cost PNE around $70,000.
Cheap natural gas prices have led to a boom in the construction of gas generating power plants. That combined with market deregulation in New England have set the stage for some tumultuous times in the New England electricity market for years to come.
Many Granite State electric customers are scratching their heads after an electricity supplier, Power New England, was abruptly kicked out of the market two weeks ago. Customers of Power New England and its sister company, Resident Power, have had to try to sort out what's going on from media reports where utilities and power suppliers are slinging accusations back forth indiscriminately.
So here’s a breakdown of what has happened to date.