Appeal of Conservation Law Foundation of New England, Inc.

King, C.J., and Batchelder, J.,

dissenting: This $525 million proposal is the largest utility financing in New Hampshire history. *649Moreover, it represents but a fraction of the $1.7 billion investment of Public Service Company of New Hampshire (PSNH or company) in the first unit of the ill-starred Seabrook nuclear plant, currently projected to cost $4.7 billion. In sanctioning this proposal, the court paves the way for an extraordinary and potentially disastrous increase in PSNH rates. The repercussions of this decision will extend for decades.

We are convinced that the order of the public…