CASE STUDY

Rockingham, VT
Hydro Plant Appraisal and Proposed Purchase

Competitive Energy Services was retained by the Town of Rockingham in Vermont to provide expert testimony with respect to the fair market value of the Bellows Falls hydro plant, a 48 MW plant on the Connecticut River.  The case was appealed to Vermont Superior Court, where the Judge adopted the valuation of Competitive Energy Services in its entirety and affirmed Dr. Richard Silkman, a principal in Competitive Energy Services as an expert in this field.  The Superior Court decision was upheld by the Vermont Supreme court on appeal.

As a result of the valuation efforts, the Town of Rockingham retained Competitive Energy Services to assist the Town in its efforts to become a municipal electric utility and to acquire the Bellows Falls Hydro Electric generation station (approximately 48 MW) located within the Town.  As a part of this effort, Dr. Silkman served as the lead witness for the Town of Rockingham in litigation with the owner of the Bellows Falls Hydro plant over the assessed valuation of that plant and in the bankruptcy proceeding involving U.S. Generation - New England in the Baltimore circuit, and negotiated an agreement between the Town and Brookfield Power to acquire the facility.  This agreement was approved twice by the voters of the Town of Rockingham and affirmed as in the public interest by the Vermont Public Service Commission, but rejected by the voters on a final vote.