SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549-1004
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 26, 2002
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Commission Registrant; State of Incorporation I.R.S. Employer
File Number Address and Telephone Number Identification No.
1-5324 NORTHEAST UTILITIES 04-2147929
(a Massachusetts voluntary association)
174 Brush Hill Avenue
West Springfield, Massachusetts 01090-0010
Telephone (413) 785-5871
0-11419 THE CONNECTICUT LIGHT AND POWER COMPANY 06-0303850
(a Connecticut corporation)
107 Selden Street
Berlin, Connecticut 06037-1616
Telephone (860) 665-5000
1-6392 PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE 02-0181050
(a New Hampshire corporation)
780 North Commercial Street
Manchester, New Hampshire 03101-1134
Telephone (603) 669-4000
0-7624 WESTERN MASSACHUSETTS ELECTRIC COMPANY 04-1961130
(a Massachusetts corporation)
174 Brush Hill Avenue
West Springfield, Massachusetts 01090-0010
Telephone (413) 785-5871
Not Applicable
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(Former name or former address, if changed since last report)
Item 5. Other Events and Regulation FD Disclosure
As part of an ongoing review process, management of
Connecticut Yankee Atomic Power Company (CYAPC), Yankee
Atomic Electric Company (YAEC) and Maine Yankee Atomic Power
Company (MYAPC, and, together with CYAPC and YAEC, the
Yankee Companies), as part of ongoing litigation in the
Court of Claims against the Department of Energy, prepared
revised estimates of the cost of decommissioning,
respectively, the Connecticut Yankee nuclear unit (CY), the
Yankee Rowe nuclear unit (Yankee Rowe) and the Maine Yankee
nuclear unit (MY). CY, Yankee Rowe and MY have been
permanently shut down and are currently conducting
decommissioning activities. The estimated costs of
decommissioning CY, Yankee Rowe and MY have increased by
approximately $150 million, $190 million and $40 million,
respectively, over prior estimates. Such prior estimates
estimated costs were included in the Yankee Companies' rates
which have been approved by the Federal Energy Regulatory
Commission (FERC) for inclusion in the Yankee Companies'
rates. The new cost estimates will be revised from time to
time based on information available to the Yankee Companies
regarding future costs.
The new estimates are attributable mainly to increases
in the projected costs of spent fuel storage, security and
liability and property insurance.
Northeast Utilities' (NU) electric operating
subsidiaries collectively own 49% of CYAPC, 38.5% of YAEC
and 20% of MYAPC. Their respective shares of the increased
costs would be approximately as follows: The Connecticut
Light and Power Company (CL&P): $104 103 million; Public
Service Company of New Hampshire (PSNH): $23 million; and
Western Massachusetts Electric Company (WMECO): $29 million.
NU expects the Yankee Companies to seek recovery of
these increases in rate applications to be filed in due
course with the FERC, with any resulting adjustments being
charged to their respective sponsors including CL&P, PSNH
and WMECO. The timing, amount and outcome of these filings
cannot be predicted at this time. CL&P, PSNH and WMECO would
expect in turn to seek recovery of their respective shares
of any allowed increases from ratepayers through appropriate
state and federal rate proceedings.
For further information concerning the Yankee Companies
and their decommissioning estimates, see "Item 1. Business - Nuclear
Generation" in NU's 2001 Annual Report on Form 10-K and "Nuclear
Decommissioning and Plant Closure Costs" in NU's Notes to its 2001
Financial Statements.
SIGNATURE PAGE TO FOLLOW
SIGNATURE
Pursuant to the requirements of the Securities and
Exchange Act of 1934, the Registrants have duly caused this
report to be signed on their behalf by the undersigned
hereunto duly authorized.
NORTHEAST UTILITIES
PUBLIC SERVICE COMPANY OF NEW HAMPSHIRE
WESTERN MASSACHUSETTS ELECTRIC COMPANY
(Registrants)
By: /s/ Randy A.Shoop
Name: Randy A. Shoop
Title: Assistant Treasurer - Finance
THE CONNECTICUT LIGHT AND POWER COMPANY
(Registrant)
By: /s/ Randy A. Shoop
Name: Randy A. Shoop
Title: Treasurer
Date: November 26, 2002