Appeal of McCool

This is an appeal from the order of the public utilities commission issued in its docket DF 83-360, authorizing the New Hampshire Electric Cooperative, Inc. (the Coop) to borrow $46,898,000 from the United States Government acting through the Rural Electrification Administration in conjunction with the Federal Financing Bank. The object of this proposed borrowing is the provision of funds to allow the Coop to participate in completing construction of Unit I and “common facilities” at the Seabrook nuclear power plant, of which the Coop owns a 2.17391% share. We recently upheld the commission’s…