PSC told it’s OK for Iberdrola to own wind farms

The five commissioners of the Public Service Commission were told by their senior advisory staff today that they should allow Spanish utility Iberdrola SA to build and own wind farms anywhere in the state as part of its $4.5 billion acquisition of Energy East Corp.

The commissioners are likely to vote on the merger a week from today during a special session.

Senior staff also recommended that the PSC require Iberdrola to set aside between $202 million and $300 million of what is known as public benefit adjustments that would benefit ratepayers.

Although Iberdrola would be allowed to own and develop wind farms in the state, senior staff suggested a set of conditions to mitigate manipulation of the state’s wholesale electric markets.