Green Mountain Power and NextEra Sign Power Purchase Agreement

30 May 2011 (Last Updated May 30th, 2011 18:30)

Green Mountain Power has signed a power purchase agreement with NextEra Energy Resources to buy electricity for 23 years from NextEra's Seabrook nuclear plant in New Hampshire, US. The company plans to purchase 15MW from NextEra from 2012-14, in a bid to substitute expiring power sup

Green Mountain Power has signed a power purchase agreement with NextEra Energy Resources to buy electricity for 23 years from NextEra's Seabrook nuclear plant in New Hampshire, US.

The company plans to purchase 15MW from NextEra from 2012-14, in a bid to substitute expiring power supply contracts.

It will also purchase 60MW of energy from 2015, which is expected to decline to 40MW by the end of the contract.

The electricity purchase from NextEra represents about 20% of Green Mountain Power's overall energy mix that serves about 94,000 customers.

NextEra said it also plans to supply an additional 25MW of power to other utilities in Vermont, US, under similar terms.

The agreement between Green Mountain Power and NextEra is subject to approval from Vermont regulators, reports Reuters.