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State To Use J.P. Morgan for Millstone Auction
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BNH
6/1/2000
By: Kristine Hansen
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| NEW YORK - The state's Department of Public Utility Control (DPUC) has retained J.P. Morgan for the auction of the Millstone nuclear power station in Waterford. Up for auction is 100 percent of the Millstone Unit 2 plus more than 92 percent of Unit 3. The Millstone Unit 1 is in the process of decommissioning. The DPUC expects that the auction will take the rest of the year to accomplish and that regulatory approval would be obtained in 2001. The DPUC had already approved the proposed auction plan presented by the United Illuminating Co. (NYSE: UIL) and Connecticut Light and Power Co. (CL&P), a unit of Northeast Utilities (NYSE: NU).
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