Wednesday, September 03, 2008

Iberdrola Buys OFF NYS - PSC fails to protect the public


The four remaining PSC Commissioners all voted YES on the Iberdrola acquisition of Energy East. For a mere $275,000,000 + another $25,000,000, another foreign monopoly buys an important utility infrastructure and gets a bonus – the special exemption – to the well established policy of vertical integration prohibition. Shame on the PSC Commissioners and even greater disdain to the PSC Staff for being enablers of this betrayal.

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