| The Clement Hydroelectric Station is located on
the Winnipesaukee River approximately five miles upstream from its
confluence with the Pemigewasset River and near the Town of Tilton,
New Hampshire. The facility is rated at 2,400 kilowatts and was
constructed in 1984 at the location of an existing 120 foot wide
dam and includes a 275 foot steel penstock which is 12 feet in diameter.
A power purchase agreement was executed with the Public Service
Company of New Hampshire (‘‘PSNH’’) on March
25, 1984 for all electrical energy produced at the Clement Dam Facility.
The term of the agreement is 20 years and it will terminate at the
end of 2004. Under the terms of the agreement, PSNH is required
to purchase all energy.
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