In its second quarter earnings call on July 31, Northeast Utilities prepared investors for another possible delay in the Northern Pass timetable. The company still maintains that it expects to complete the new Coos route in the third quarter of 2012, begin construction in the second half of 2014 and complete the project in 2016. But Northeast also introduced new hedging language that if property purchases in Coos County were to be delayed into the fourth quarter of 2012, then the project in-service date would move back to early 2017.

Wall Street didn’t buy it.

Bloomberg reported analyst Andrew Weisel’s view that the “outlook for the company’s transmission unit . . . is ‘increasingly uncertain’,” and, “given push back and problems in New Hampshire,” he predicted an in-service date of late 2017 for Northern Pass.

Read the rest

Advertisements