Wednesday, January 23, 2008

RG&E sale clears another hurdle

(January 23, 2008) — Iberdrola SA has won approval from Maine’s Public Utility Commission to complete its $4.5 billion acquisition of Energy East Corp., the parent of Rochester Gas and Electric and New York State Electric and Gas.

To win Maine’s approval, the Spanish utility agreed to limit debt at Central Maine Power and Maine Natural Gas, install advanced meters enabling energy conservation and to share cost savings with customers.

New York is now the only state where Energy East does business that hasn’t approved the deal. The staff of the New York Public Service Commission has advised against approval, saying the acquisition wouldn’t benefit RG&E or NYSEG customers.

Voice Your Choice Say NO to Overhead Power Lines

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