New York's Public Service Commission will try again today to answer the long-running question: Should Iberdrola SA of Spain be allowed to purchase Energy East Corp. of Maine?
The PSC was widely expected to resolve the 14-month takeover issue last week, but two of the five commissioners were absent from an Albany meeting, with one announcing her resignation because she's getting married and moving out of state.
Commissioner Cheryl Buley will not participate in the Iberdrola-Energy East decision, the PSC said.
That leaves the matter in the hands of Commissioners Garry Brown, Patricia Acampora, Robert Curry and Maureen Harris. Three votes are needed to approve the deal.
Energy East is the parent company of Rochester Gas and Electric Corp. and New York State Electric and Gas Corp.
The deal has been controversial, with proponents citing Iberdrola's promise to invest $2 billion in wind energy projects in the state, and opponents saying that wind power is overrated and that RG&E and NYSEG ratepayers could be adversely affected.
No comments:
Post a Comment