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) September 27, 2000
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Commission File Number 1-5324
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NORTHEAST UTILITIES
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(Exact name of registrant as specified in its charter)
MASSACHUSETTS 1-5324 04-2147929
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(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File No.) Identification No.)
174 BRUSH HILL AVENUE, WEST SPRINGFIELD, MASSACHUSETTS 01090-0010
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Address of principal executive offices) (Zip Code)
(Registrant's telephone number, including area code)
(413) 785-5871
(Former name or former address, if changed since last report)
Not Applicable
ITEM 5. OTHER EVENTS
The Utility Operations Management Analysis (UOMA) Unit of the
Connecticut Department of Public Utility Control (DPUC) recommended on
September 27, 2000 that the DPUC approve the results of the recently
completed auction of the Millstone Nuclear Power Station. Dominion Resources
Inc. (Dominion) won the auction with a bid of $1.298 billion for the three
nuclear units at Millstone, in addition to the related nuclear fuel.
Northeast Utilities' (NU) subsidiaries own 100 percent of Millstone 1
and Millstone 2 and 68 percent of Millstone 3. Pursuant to purchase and sale
agreements entered into between Dominion and most owners of the three
Millstone units, Dominion agreed to acquire all of the NU subsidiary
ownership of the three units, in addition to approximately 25 percent of
Millstone 3 out of the 32 percent not owned by the NU subsidiaries.
As a result of UOMA's recommendation, the base merger consideration that
would be payable to NU shareholders under NU's merger agreement with
Consolidated Edison, Inc. is increased by $1.00 per share to $26.00 per
share, in addition to the $.0034 that would be added for every day after
August 5, 2000 through the day prior to the closing of the merger.
State utility regulators in Connecticut, New York, and New Hampshire, as
well as the U.S. Department of Justice and the Securities and Exchange
Commission are still reviewing the merger. In a draft decision last week,
the DPUC granted conditional approval to the merger. In written exceptions
to the draft decision which were filed on September 29, 2000, NU and
Consolidated Edison stated that a number of proposed conditions in the draft
decision could negatively impact attainment of the goals of the merger. A
final decision by the DPUC is scheduled for October 19, 2000.
SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
NORTHEAST UTILITIES
(registrant)
/s/David R. McHale
David R. McHale
Vice President and Treasurer
Date: September 29, 2000
