State Utilities Panel Will Examine NU Merger
State Utilities Panel Will Examine NU Merger
NEW BRITAIN (AP) â Connecticut regulators now say they will consider whether they have authority to approve a massive power company merger between Northeast Utilities in Hartford and Nstar in Boston.
Philip Dukes, a spokesman for the Department of Public Utility Control, said the agency will order a hearing. In a preliminary decision last week, the department said it would not weigh in because Northeast Utilities will remain the corporate parent of subsidiaries still subject to the stateâs jurisdiction.
But several state officials âAttorney General George Jepsen and three leading lawmakers â asked the agency to schedule hearings urging that it review the proposed merger, valued at more than $4.3 billion.
Massachusetts has set hearings beginning in April on whether to approve the deal.