Conn, In Reversal, Said Will Review Northeast-Nstar Merger -Report

Date : 01/04/2012 @ 12:10PM
Source : Dow Jones News
Stock : Constellation Energy Grp. Common Stock (CEG)
Quote : 37.23  0.0 (0.00%) @ 2:05AM

Conn, In Reversal, Said Will Review Northeast-Nstar Merger -Report

The proposed $4.3 billion merger between Northeast Utilities (NU) and Nstar (NST) will be reviewed by utility regulators in Connecticut, reversing the state's decision last year not to review the transaction, the Hartford Courant reported Tuesday on its website, citing a person close to the agency.

The Public Utilities Regulatory Authority is expected to announce a preliminary, or draft, decision Wednesday. Regulators have been pressured to review the merger of the New England utilities in light of recent storms which left thousands of state residents without power.

The merger transaction is set to expire April 16.

Northeast Utilities spokesman Al Lara on Tuesday said the utility will have an opportunity to review the draft decision. Beyond that, he said, "it would be speculation until we see the final decision."

The Federal Regulatory Commission and the Nuclear Regulatory Commission last year approved the merger.

Full story at:

-Dow Jones Newswires; 212-416-2900

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