Thursday, July 03, 2008

New York PSC staff may be ready to compromise with Iberdrola by Jim Stinson of the D & C

Iberdrola spokesmen noted, however, that the PSC staff is still recommending a "no" vote on the takeover and said the company doesn't see a significant change from the staff's previous opposition.

And the two sides remain far apart on how much Iberdrola should pay in ratepayer benefits. The PSC staff is still seeking $644 million, which Iberdrola said is excessive. The staff said Iberdrola's $201 million offer is "paltry."

But the issue of ratepayer benefits might fall by the wayside if the more fundamental issue — Iberdrola's ownership of both wind farms and the distribution networks of RG&E and NYSEG — can be resolved.

(Click to read entire article)

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