The chairman of Iberdrola, the Spanish utility seeking to buy Energy East, says what he calls "unreasonable conditions" imposed by the New York energy regulators could scuttle the proposed $$4.5 billion deal.
Iberdrola already has taken some sizable steps to gain New York's approval for the deal.
On March 14th, it agreed to several condition set by the New York State Public Service Commission, including putting up for bid and selling a power generating plant in Greece and four other plants.
The company also agreed to spend more than $100 million over the next three years developing wind-generated power in New York state.
The proposed buyout -- which now only needs the public service commission's approval before it can be done -- would affect 3 million customers from upstate New York to Maine and put Rochester Electric & Gas and New York State Electric & Gas under foreign ownership.
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