Sunday, June 08, 2008

Don't fret over foreign ownership of RG&E

A recent column on Iberdrola's proposed takeover of Energy East, the parent company of Rochester Gas and Electric and New York State Electric and Gas, prompted e-mails, phone calls and online comments that focused on one key aspect of the deal:

Ownership of our local electric and natural gas utility by a foreign company.

"Does anyone else have a problem with a foreign company being responsible for power distribution in the U.S.?" asked one chat participant at DemocratandChronicle.com. "Talk about opening the door for terrorism ..."

At a public hearing on the takeover in February, William Brewer of Rochester asked the question from a different perspective — that of an RG&E retiree worried about the future of his health benefits.

"What's going to happen when control is in Bilbao, Spain?" Brewer asked, referring to the city where Iberdrola has its headquarters.

(Click to read entire item)

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