65- 407 C.M.R. ch. 307, § 10
A utility may apply to the Commission to exercise its authority under 35-A M.R.S.A. §3204(3) to allow it to divest one or more generation assets or generation-related business activities after March 1, 2000. The application shall be filed on or before December 1, 1999, and shall include all information that justifies the request. A utility may file subsequent applications for additional extensions. The Commission shall provide an opportunity for interested persons to be heard on the application and shall rule on the application within 2 months after it is filed. The Commission shall grant an extension of the divestiture deadline if it finds that an extension would likely improve the sale value of the generation assets or the generation-related business activities or would be likely to reduce the level of the utility's stranded costs. The Commission shall establish the length of the extension in its Order and shall specify whether the utility must divest the asset or business activity on the date specified in the Order or whether it may divest on or before that date. The Commission may order that any divestiture be subject to the right of a purchaser of the capacity and energy pursuant to this Chapter to make purchases from the new owner of the generation asset or generation-related business activity until the date specified in the contract between the purchaser and the utility.
The granting of an extension under this section does not exempt a utility from the obligation to sell the capacity and energy from a generation asset whose divestiture date is extended. If an extension is granted reasonably in advance of August 1, 1999, the capacity and energy from the generation asset whose divestiture date is extended may be included in the utility's request for bids issued on August 1, 1999. If the extension is granted on a date that is too late for the capacity and energy to be included in the request for bids issued on August 1, 1999, the Commission may order a separate bidding process for the sale of the asset's capacity and energy. The Commission will determine the duration of the sale of the capacity and energy from a generation asset or generation-related business activity whose divestiture date is extended. The Commission may direct that the capacity and energy be sold in the regional wholesale bulk power markets until the selection of a purchaser or until the asset is divested.
65- 407 C.M.R. ch. 307, § 10