Eversource abandons Northern Pass project after defeat in NH Supreme Court In filing, Eversource concludes Northern Pass 'no longer probable' Share Shares Copy Link Copy

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ANDY: THIS IS DOWNTOWN FRANKLIN. ONE OF THE CITIES THAT OFFICIALS SAY WOULD HAVE BENEFITTED FROM THE NORTHERN PASS PROJECT. NOW THEY SAY THEY ARE GOING TO HAVE TO LOOK IN ANOTHER DIRECTION. THROUGH A FILING WITH THE SECURITIES AND EXCHANGE COMMISSION, EVERSOURCE HAS OFFICIALLY THROWN IN THE TOWEL ON ITS NEARLY DECADE LONG, HIGHLY CONTROVERSIAL NORTHERN PASS PROJECT. >> IT IS ESSENTIALLY OUR SIGNAL TO THE FINANCIAL COMMUNITY THAT THE PROJECT IS AT AN END AND IT REPRESENTS A LOSS OF THAT INVESTMENT FOR OUR COMPANY. ANDY: THE POWER TRANSMISSION PROJECT WOULD HAVE RUN FROM CANADA ESSENTIALLY THROUGH THE HEART OF NEW HAMPSHIRE TO DELIVER HYDRO POWER INTO THE NEW ENGLAND GRID. IT HAD STIRRED EMOTIONS ON BOTH SIDES OF THE ISSUE. SUPPORTERS SAID IT WAS CLEAN POWER, JOBS AND TAX REVENUE, BUT OPPONENTS FELT THE ENVIRONMENT AND LANDSCAPE WOULD HAVE BEEN HARMED, OUTWEIGHING ANY POTENTIAL BENEFITS. THERE MAY BE ENERGY PROJECTS IN THE FUTURE THAT ARE DIFFERENT AND DO OFFER ADVANTAGES BUT IN THIS CASE THIS PARTICULAR PROJECT, THE TRADE OFF SIMPLY WASN’T WORTH IT. ANDY: FRANKLIN CITY COUNCILOR JO BROWN SAYS THE PROJECT WOULD HAVE HELPED THEIR STRUGGLING SCHOOLS THROUGH TAX REVENUE AND GIVEN A BOOST TO THE LOCAL ECONOMY. NOW THEY ARE PINNING THEIR HOPES TO OTHER PROJECTS LIKE A WHITE WATER RAFTING PARK THAT’S IN THE WORKS. >> IT WAS GOING TO BE A REAL BOON FOR US. LIKE A LOT OF MILL CITIES AND OLDER TOWNS, WE’VE SUFFERED WITH THE ECONOMIC DEPRESSION AND THE LOSS OF MANUFACTURING AND INDUSTRY. NORTHERN PASS FOR FRANKLIN WAS GOING TO ALLOW US TO MAKE UP SOME OF THAT SLACK. ANDY: FRANKLIN OFFICIALS SAY WHILE THEY ARE DISAPPOINTED, THEY HAVE MOVED ON AND WILL FIND OTHER WAYS TO HELP THEIR SCHOOLS AND GROW THEIR ECONOMY.

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