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Public Utilities Commission Affirms Decision Allowing Nashua to Acquire Pennichuck Water Works

March 13, 2009

The New Hampshire Public Utilities Commission affirmed a decision today allowing the City of Nashua to acquire the assets of Pennichuck Water Works, Inc., an investor-owned water utility serving 25,000 customers in Southern New Hampshire.  Upton & Hatfield attorneys Robert Upton, II and Justin Richardson, part of the firms municipal and utility practice groups, represented Nashua before the Public Utilities Commission. 

The case commenced on March 25, 2004, following a vote by the City to acquire the company pursuant to RSA 38.  Pennichuck Water Works is the largest of three water utilities owned by Pennichuck Corporation (NASDAQ:  PNNW), which also owns Pennichuck East Utilities, Inc. (PEU) and Pittsfield Aqueduct Company (PAC). 

Today’s decision brings proceedings before the Public Utilities Commission to a close pending appeal to the New Hampshire Supreme Court.  In a March 19, 2009 filing with the Securities and Exchange Commission, Pennichuck Corporation indicated that it intends to appeal the decision.

The New Hampshire Public Utilities Commission approved the Fryeburg Water Company's petition for a rate increase.

July 9, 2008

Attorney's Robert Upton, II, and Justin C. Richardson, members of the firms municipal and administrative law practice groups, received a favorable decision from the New Hampshire Public Utilities Commission granting the City of Nashua authority to acquire the assets of Pennichuck Water Works, Inc., an investor-owned utility that supplies drinking water to the City of Nashua and eight other communities. In a 120 page decision, the Commission found that it was in the public interest to allow Nashua to acquire the system and set a value for the Company's assets of $203 million.

Upton & Hatfield, LLP represented the City of Nashua before the Public Utilities Commission and in two related lawsuits brought by the Company. In approving the City's petition, the Commission noted that "from the outset, there have been serious legal questions of first impression … and every step in the proceeding has been hotly contested." The decision discussing the case is available here. The decision is subject to pending motions for rehearing and appeal to the New Hampshire Supreme Court.

Upton & Hatfield Attorney Justin C. Richardson represented the company before the PUC and during settlement negotiations with the PUC staff. The company provides water service to approximately 700 customers located in the Towns of Fryeburg Maine and East Conway, New Hampshire. A copy of the decision approving the company's request is available here.

Attorneys Upton and Richardson obtain ruling for the City of Nashua to acquire Pennichuck Water Works.

Attorney's Robert Upton, II, and Justin C. Richardson, members of the firms municipal and administrative law practice groups, received a favorable decision from the New Hampshire Public Utilities Commission granting the City of Nashua authority to acquire the assets of Pennichuck Water Works, Inc., an investor-owned utility that supplies drinking water to the City of Nashua and eight other communities. In a 120 page decision, the Commission found that it was in the public interest to allow Nashua to acquire the system and set a value for the Company's assets of $203 million.

Upton & Hatfield, LLP represented the City of Nashua before the Public Utilities Commission and in two related lawsuits brought by the Company. In approving the City's petition, the Commission noted that "from the outset, there have been serious legal questions of first impression … and every step in the proceeding has been hotly contested." The decision discussing the case is available here. The decision is subject to pending motions for rehearing and appeal to the New Hampshire Supreme Court.