REGION Iberdrola representative Tom Johnson confirmed that the company's chairman, Ignacio Sanchez Galan, said Iberdrola would rethink its planned acquisition of Energy East for about $4.5 billion if conditions imposed by the state Public Service Commission are unreasonable.
The deal is now expected to be completed before the third quarter, pending approval by the PSC. The transaction was expected to close in the first half of the year. The PSC has raised concerns about the acquisition and asked for more information from Energy East before it can decide whether the deal is in the public interest.
A recommendation from the administrative law judge assigned to the case is expected around late May.
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