The proposed $4.3 billion merger between Northeast Utilities
(NU) and Nstar (NST) will be reviewed by utility regulators in
Connecticut, reversing the state's decision last year not to review
the transaction, the Hartford Courant reported Tuesday on its
website, citing a person close to the agency.
The Public Utilities Regulatory Authority is expected to
announce a preliminary, or draft, decision Wednesday. Regulators
have been pressured to review the merger of the New England
utilities in light of recent storms which left thousands of state
residents without power.
The merger transaction is set to expire April 16.
Northeast Utilities spokesman Al Lara on Tuesday said the
utility will have an opportunity to review the draft decision.
Beyond that, he said, "it would be speculation until we see the
final decision."
The Federal Regulatory Commission and the Nuclear Regulatory
Commission last year approved the merger.
Full story at:
http://articles.courant.com/2012-01-03/business/hc-nu-nstar-merger-review-decision-20120103_1_nu-and-nstar-office-of-consumer-counsel-utility-regulators
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