In its statement, the company cited a SEC filing by Northeast Utilities concerning power supply issues with its retail unit Select Energy. According to published reports, Northeast told the SEC its earnings may suffer if it is forced to purchase power in relation to a contract Select has to supply 2,000 megawatts of power to Northeast subsidiary Connecticut Light & Power. Northeast is seeking to sell its largest power generation facility -- the Millstone nuclear power plant -- to Dominion Resources for $1.3 billion.
Northeast Utilities, on the other hand, charged on March 5 that Consolidated Edison had breached a contract to purchase the utility. The company had stated that it intended to sue Consolidated Edison over the breach of contract. To date, the company has not formally filed legal action against Consolidated Edison.
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