Bridgeport Harbor Station and New Haven Harbor Station

Wisvest Corporation Acquisition of Utility Assets

Sterling Energy assisted Wisvest Corporation in the acquisition of United Illuminating’s 590 MWe Bridgeport Harbor Station (top) and 466 MWe New Haven Harbor Station (bottom).

Sterling Energy provided a 5-person core team of highly skilled power plant business professionals to manage the transition. The broad role definition of responsibility for the team included:

• Overall transition project management
• Planning and control
• Physical plant management
• Business systems/market transition
• Engineering, environmental and capital project management

Our scope of work during the 4 month transition program included:

• Develop the Mission and Vision consistent with Wisvest’s corporate objectives
• Develop 100 Day, 1-year and 5-year business plans
• Develop and implement the communications program to clearly articulate the transition program (scope and schedule) to the existing staff - to mitigate the “rumor mill”
• Develop administrative and accounting programs for the new Wisvest business entity
• Interview professional personnel and reorganize personnel resources in accordance with staffing plan
• Transition union forces into the new business entity
• Plan capital and major maintenance
• Spearhead business strategies for the emerging deregulated NEPool market
  

 

Several unique programs were developed for implementation once the transition was complete. A Business Line Product Catalog was developed and is being utilized as a method for integrating asset management and marketing. The catalog serves as the internal contract between asset management and marketing. Definitive performance and cost commitments are established for each product/service.

A program of “Systems Management” was introduced to intentionally and effectively integrate the operations and maintenance resources into the business of electrical power generation. Production Leaders are accountable for the system management program. Shift Leaders are assigned system management responsibility, with individual responsibility for providing technical, planning and coordination support.

Bridgeport Harbor Station (BHP):

     Unit #2 - 170 MWe - oil/gas

                      built 1961

     Unit #3 - 400 MWe - oil/coal

                      built 1968

     Unit #4 - 20 MWe - gas turb

                      built 1967

New Haven Harbor Station (NHHS)

     466 MWe - oil/gas built 1975

Owner:

     Wisvest Corporation

Transition Date:

     April 15, 1999