Connecticut Light and Power

Survival of power firm is in doubt Northeast Utilities mismanaged, hostile, Conn. regulators say

BERLIN, Conn. -- Northeast Utilities, the largest power company in New England, mismanaged its nuclear operations for 10 years, and has taken a "hostile and arrogant approach" to the regulatory process, according to an audit report released yesterday by the Connecticut Department of Public Utility Control.

Unless Northeast gains approval to restart reactors that were shut down pending safety concerns, the company's financial survival as a nuclear power company "may no longer be possible," the report said.

The department said the auditors found that Northeast's board of trustees lacks the expertise to oversee nuclear operations, that the utility has lost the...