Surprise!
Energy and the Public Service Commission have failed in their attempts to settle their differences on issues involving the Iberdrola merger.
According to this release from Energy East, testimony on the issues involved in the merger will begin again on March 17. Read the hearing notice here
It had been hoped that the two parties could find some common ground in private negotiations. That apparently hasn't happened, putting in jeopardy the expected second quarter closing of this $4.6 billion merger.
New York regulators are the last in line for approval. Staff at the PSC contends that there are insufficent customer safeguards and benefits in the proposed merger.
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