Gov.-elect Judd Gregg and legislative leaders said Wednesday they will try to create a public power authority to take over Public Service Company of New Hampshire if the utility tries to have federal regulators set its electricity rates.

The utility, owner of the embattled Seabrook nuclear plant, filed a bankruptcy reorganization plan Tuesday that would allow it to be federally regulated and able to charge customers for the stalled plant even if the reactor never operates. The company said it seeks rate increases of 30 percent to 40 percent during the next several years.Gregg said the state might reconsider its longstanding support for the Seabrook plant unless the utility drops its attempt to escape state regulation.