Monday, March 24, 2008

Energy East danced with others before choosing Iberdrola

The state Public Service Commission has ruled that Energy East Corp. must reveal the names of companies that sought merger deals with the utility before it accepted a $4.5 billion offer from Iberdrola SA last year.

The ruling is part of the ongoing case before the PSC.

Based in Maine, Energy East has 1.4 million customers in upstate New York through its New York State Electric & Gas and Rochester Gas & Electric subsidiaries. About 45,000 of its customers are located in the Capital Region.

Last summer, Iberdrola, a Spanish utility, announced it planned to acquire Energy East. The merger needs approval from the states where Energy East does business, and New York is the last state that needs to give its approval.

(Click to read entire article)

Voice Your Choice Say NO to Overhead Power Lines

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