Connecticut Light and Power (CLP), formerly part of Northeast Utilities Company, owned a number of projects and reservoirs on the lower Housatonic River in Connecticut. It also owned considerable undeveloped shoreline acreage around several of the reservoirs, much of which was not in project boundaries. The land has significant real estate value. As part of energy deregulation in Connecticut, CLP assets were sold off to two separate parts of its parent Northeast Utilities Company: the regulated power distribution company went to Northeast Utilities, and the dams and generating units went to the unregulated Northeast Generating Company. The lands around the project but not in project boundaries were "sold" to Northeast Utilities. Now, during the projects' relicensing processes, Northeast Generating is arguing that it no longer owns the lands around the project not contained in the old project boundaries. It claims it cannot afford to buy them from the new owner: its own parent company Northeast Utilities.