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24 July 2006 -- Northeast Utilities and Energy Capital Partners (ECP) announced today that ECP has agreed to purchase NU's competitive generation assets in Connecticut and Massachusetts, US, for $1.34 billion, including the assumption of $320 million in debt.

The sale includes 15 generating plants at 14 sites with a total output of 1,442 MW, the largest of which is the 1,080-MW Northfield Mountain pumped-storage facility located in Northfield, Massachusetts and owned by NU Enterprises, Inc. subsidiary Northeast Generation Company. Also included is Mt. Tom Station, a 146-MW coal-fired plant in Holyoke, Massachusetts, owned by NU subsidiary Holyoke Water Power Company.

The sale is expected to close by the end of 2006. NU will use sale proceeds to invest in its regulated businesses, retire debt and pay taxes.

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