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24-467: NSTAR was formed in 1999 by the merger of BEC Energy and Commonwealth Energy System and had the following operating units: Boston Edison Company , Cambridge Electric Light Company , Commonwealth Electric Company , and NSTAR Gas Company (formerly Commonwealth Gas and Cambridge Gas Company ). As a part of deregulation of the local electrical power industry , NSTAR has divested itself of all electric generation facilities, keeping only those elements of

48-453: A power company , is a company in the electric power industry (often a public utility ) that engages in electricity generation and distribution of electricity for sale generally in a regulated market . The electrical utility industry is a major provider of energy in most countries. Electric utilities include investor owned , publicly owned , cooperatives , and nationalized entities. They may be engaged in all or only some aspects of

72-535: A great deal of private investment. The success in Nicaragua may not be an easily replicated situation however. The movement was known as Energiewende and it is generally considered a failure for many reasons. A primary reason was that it was improperly timed and was proposed during a period in which their energy economy was under more competition. Globally, the transition of electric utilities to renewables remains slow, hindered by concurrent continued investment in

96-563: A joint venture with Hydro-Québec and Northeast Utilities to build a new High-voltage direct current (HVDC) line from Windsor, Quebec (connecting with the Quebec - New England Transmission line) to a location in central New Hampshire. It is projected that the line will either run in existing right-of-way adjacent to the HVDC line that runs through New Hampshire, or it will connect to a right-of-way in northern New Hampshire that will run through

120-460: A mixed-use development, which would require the state to release a 2014 deed restriction prohibiting residential construction. The site adjoins Conley Terminal and its haul road (which is the reason for the restriction), and a reserved shipping channel. This article about a company or corporation involved in the energy industry is a stub . You can help Misplaced Pages by expanding it . Electric utility An electric utility , or

144-858: Is also more likely to attract executives experienced in working in competitive environments. In the United States, the Energy Policy Act of 1992 removed previous barriers to wholesale competition in the electric utility industry. Currently 24 states allow for deregulated electric utilities: Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, Texas, Virginia, Arizona, Arkansas, California, Connecticut, Delaware, Illinois, Maine, Maryland, Massachusetts, Michigan, Montana, New Hampshire, New Jersey, New Mexico, New York, and Washington D.C. As electric utility monopolies have been increasingly broken up into deregulated businesses, executive compensation has risen; particularly incentive compensation. Oversight

168-482: Is inherently independent of more traditional sources of energy, the market seems to have a very different structure. In the United States, to promote the production and development of alternative energies, there are many subsidies, rewards, and incentives that encourage companies to take up the challenge themselves. There is precedent for such a system working in countries like Nicaragua. In 2005, Nicaragua gave renewable energy companies tax and duty exemptions, which spurred

192-507: Is pumped through their pipe lines. In July 2007, NSTAR Electric introduced a new program called NSTAR Green. In May 2008, NSTAR Green signed ten-year contracts for sixty megawatts of wind power from two wind farms in New York and Maine. They offered their customers a chance to buy 50-100 percent of their power from these wind farms. Power purchased through NSTAR Green would reduce reliance on fossil fuels that are traditionally used to meet

216-458: Is typically carried out at the national level, however it varies depending on financial support and external influences. There is no existence of any influential international energy oversight organization. There does exist a World Energy Council, but its mission is mostly to advise and share new information. It does not hold any kind of legislative or executive power. Alternative energy has become more and more prevalent in recent times and as it

240-807: The Longwood Medical Area of Boston. Electric power distribution in the New England area is coordinated by ISO New England , a regional transmission organization . In 2002, NSTAR Electric and Gas Corporation was cited by the Environmental Protection Agency (EPA) for discharging oil into the Charles River . The EPA also stated that NSTAR had failed to prepare spill plans at four of its facilities, in Brighton, Cambridge, Needham, and West Roxbury, where oil

264-560: The Boston area. Dugald C. Jackson attended and promised the support of MIT in providing scientific research to support the development of the electric vehicle industry. In 1999 it was merged with Cambridge Electric Light Company, Commonwealth Electric Company, and NSTAR Gas Company to form NSTAR . After subsequent mergers, what remains of the Boston Edison Company is now part of Eversource Energy . The company operated

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288-475: The French company EDF was the world's largest producer of electricity. An electric power system is a group of generation, transmission, distribution, communication, and other facilities that are physically connected. The flow of electricity within the system is maintained and controlled by dispatch centers which can buy and sell electricity based on system requirements. The executive compensation received by

312-479: The L Street Power Plant (now 776 Summer Street) in South Boston, which was constructed in 1898, with the turbine hall constructed in 1903. At the time of decommissioning it belonged to Exelon , which sold it for redevelopment in 2016. The Exelon New Boston Power Plant had been built on the same property without demolishing the original Edison building. Real estate firms Redgate and Hilco Redevelopment proposed

336-506: The NSTAR facility, and possibly flowed into the Charles river, which is downstream of Sawins Pond. Many local activists lobbied for NSTAR to abide by state regulations and spend the $ 20–40 million required to perform a PCB remediation of the affected lands. By 1997 NSTAR was responsible for nearly 50 hazardous waste sites, and by 2006 all but 5 of these had been cleaned up. NSTAR has signed on

360-578: The White Mountains. This 180- to 190-mile line, projected to carry 1,200 megawatts, will carry electricity to approximately one million homes. In October 2010, Northeast Utilities and NSTAR announced they would merge, with the resulting company retaining the Northeast Utilities name. Under the terms of the transaction, NSTAR shareholders received 1.312 Northeast Utilities common shares for each NSTAR share that they own. The merger

384-560: The business which remain regulated. NSTAR sold its interest in the Seabrook Station nuclear power plant to FPL Group in 2002. On November 16, 2006, the company announced a 7.4% increase in its dividend to an annual rate of USD1.30 per common share from the previous USD1.21. NSTAR has ownership of unregulated district energy and telecommunications businesses, including Medical Area Total Energy Plant, LLC. which produces electricity, steam and chilled water for sale to customers in

408-414: The companies themselves cutting corners and costs for profits which has proven to be disastrous in the worst-case scenarios. This placed a strain on many other countries as many foreign governments felt pressured to close nuclear power plants in response to public concerns. Nuclear energy however still holds a major part in many communities around the world. Utilities have found that it isn't simple to meet

432-777: The executives in utility companies often receives the most scrutiny in the review of operating expenses . Just as regulated utilities and their governing bodies struggle to maintain a balance between keeping consumer costs reasonable and being profitable enough to attract investors, they must also compete with private companies for talented executives and then be able to retain those executives. Regulated companies are less likely to use incentive-based remuneration in addition to base salaries. Executives in regulated electric utilities are less likely to be paid for their performance in bonuses or stock options . They are less likely to approve compensation policies that include incentive-based pay. The compensation for electric utility executives will be

456-490: The expansion of fossil fuel capacity. Nuclear energy may be classified as a green source depending on the country. Although there used to be much more privatization in this energy sector, after the 2011 Fukushima district nuclear power plant disaster in Japan, there has been a move away from nuclear energy itself, especially for privately owned nuclear power plants. The criticism being that privatization of companies tend to have

480-407: The industry. Electricity markets are also considered electric utilities—these entities buy and sell electricity, acting as brokers, but usually do not own or operate generation, transmission, or distribution facilities. Utilities are regulated by local and national authorities. Electric utilities are facing increasing demands including aging infrastructure , reliability, and regulation. In 2009,

504-679: The lowest in regulated utilities that have an unfavorable regulatory environment. These companies have more political constraints than those in a favorable regulatory environment and are less likely to have a positive response to requests for rate increases. Just as increased constraints from regulation drive compensation down for executives in electric utilities, deregulation has been shown to increase remuneration. The need to encourage risk-taking behavior in seeking new investment opportunities while keeping costs under control requires deregulated companies to offer performance-based incentives to their executives. It has been found that increased compensation

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528-419: The region’s electricity demand. NSTAR has had its share of environmental mishaps, including nearly a dozen spills at its former Watertown, Massachusetts facility. The spills, most of which occurred during the 1980s, consisted of transformer oil, which contained PCBs in high concentrations (6,200 Parts Per million). These spills have contaminated nearby Sawins and Williams Pond , both of which are downgradient of

552-566: Was completed in 2012. On February 2, 2015, Northeast Utilities and all its subsidiaries, including NSTAR, began to brand themselves as Eversource Energy . Boston Edison Company The Boston Edison Company ( BECo ) was incorporated as the Edison Electric Illuminating Company of Boston in 1886. It was one of the earliest electric utility companies in the United States of America . The company

576-534: Was formally renamed the Boston Edison Company in June 1937, although it had also been previously known by this name informally. Edward S. Mansfield was placed in charge of BECo's activities in relation to electric vehicles . On 3 April 1911 BECo organised a conference at the Hotel Thorndike, in Boston to encourage closer co-operation between electric vehicle manufacturers and central station managers in

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