NorthWestern Energy notifies Montana Public Service Commission of Talen Energy's intent to exercise its right of first refusal for Colstrip transaction
NorthWestern Energy Group, Inc. (NWE)
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Source: PR Newswire
BUTTE, Mont., April 10, 2020 /PRNewswire/ -- NorthWestern Energy notified the Montana Public Service Commission today that Talen Energy has purported to exercise its right under the Colstrip Ownership and Operation agreement to acquire a portion of the transaction that was negotiated between Puget Sound Energy and NWE. This concerns Puget's proposed sale of its 185 megawatt interest in Colstrip Unit 4. If Talen Energy is able to purchase a portion of Puget's Unit 4 interest, it means NorthWestern Energy would acquire at a minimum half of Puget Sound Energy's interest in Colstrip Unit 4, 92.5 megawatts instead of 185 megawatts, half of all the costs, and the purchase price is now $0.50. The Power Purchase Agreement with Puget Sound Energy would be for 45 megawatts of energy, not 90 megawatts, for about five years. NorthWestern Energy will file a supplement to our original application for approval of the acquisition with the Montana Public Service Commission by the end of April, with a
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