November 19, 2008
Binghamton, NY
Iberdrola Decision Delayed
The decision on whether to approve the sale of Energy East to a foreign utility has been delayed. Two members were absent from the New York Public Service Commission meeting in Albany. The PSC and staff still discussed Iberdrola's $4.6 billion dollar buyout offer. Energy East provides electric and gas service for around 2 million customers. It's the parent company of New York State Electric and Gas. A major concern is how shareholders and ratepayers would share earnings, especially any savings that results from the merger. Staff also discussed Iberdrola's commitment to the state's energy strategy, wind power, customer service and reliability. The PSC now plans to vote next Wednesday, September 3rd. Most Popular |
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