NH's retail electricity marketplace is de-regulated (in the sense that any consumer can buy from any supplier, using PSNH's poles and wires)
PSNH's purchase of electricity is regulated (highly), which is why this PPA is at the PUC. If it was part of an unregulated electricity transaction, it woul dnot need PUC approval.
18% of 1.5 billion dollars is a big number, and if Concord Steam is correct (and we have no idea if they are), this could be an issue. Not an insurmountable issue, but an issue.