New England Power & Milford Power Limited Partnership announce settlement.BOSTON--(BUSINESS WIRE)--April 26, 1996--Milford Power Limited Partnership (MPLP MPLP Michigan Poverty Law Program MPLP More Product, Less Process (archivists lexicon) MPLP Modulated Power-Law Process ) and New England Power Co. (NEP NEP: see New Economic Policy. ) today announced that they have resolved all outstanding disputes between them to their mutual satisfaction. MPLP is a nonutility electric generator, owned by subsidiaries of Enron Corp. of Houston, Texas and Jones Capital Corp. of North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. . MPLP owns a 149 MW electric generating facility located in Milford, Mass. NEP is the wholesale generation and transmission subsidiary of Westborough, Mass.-based New England Electric System, whose retail subsidiaries provide electric service to more than 1.3 million customers in Massachusetts, Rhode Island Rhode Island, island, United States Rhode Island, island, 15 mi (24 km) long and 5 mi (8 km) wide, S R.I., at the entrance to Narragansett Bay. It is the largest island in the state, with steep cliffs and excellent beaches. and New Hampshire New Hampshire, one of the New England states of the NE United States. It is bordered by Massachusetts (S), Vermont, with the Connecticut R. forming the boundary (W), the Canadian province of Quebec (NW), and Maine and a short strip of the Atlantic Ocean (E). . Under the settlement, MPLP and NEP have agreed to the dismissal of an October 1994 lawsuit MPLP filed against New England Power and counterclaims filed by NEP, the restructuring of their power and fuel purchase arrangements and the payment by MPLP to NEP of and undisclosed amount of money in connection with the restructuring. MPLP will withdraw all allegations made by it against NEP, holding claims that NEP deceived its regulators and violated federal criminal statutes. Consummation of the settlement is contingent upon approval by the Federal Energy Regulatory Commission The Federal Energy Regulatory Commission (FERC) is the United States federal agency with jurisdiction over electricity sales, wholesale electric rates, hydroelectric licensing, natural gas pricing, and oil pipeline rates. of the restructured arrangements between MPLP and NEP and a proposed sale of the MPLP partnership interests to subsidiaries of American National Power Inc. CONTACT: MPLP Nancy Sterling, 617/348-1811 or New England Power Susan Stevens, 508/389-3568 |
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