SEABROOK RESCUE BID APPROVED
Owners of the Seabrook nuclear power plant today unanimously approved a plan that they said should save Seabrook's first reactor and avert bankruptcy for the plant's main owner. The 16 utility-owners of the New Hampshire plant announced the agreement following an eight-hour closed-door meeting. Robert Hildreth of Merrill Lynch Capital Markets said the plan eliminates the main obstacle of earlier proposed solutions to the Seabrook crisis - making other owners responsible for the payments of the main owner, the Public Service Company of New Hampshire.
