Call For Review of NU-NStar Merger
NEW BRITAIN, Conn. (AP) _ Several Connecticut officials want state regulators to review Northeast Utilities’ proposed $4.67 billion purchase of a Massachusetts power company.
The state Department of Public Utility Control held a hearing Friday on whether it has jurisdiction over the purchase of NStar. The agency said in January it would not review the deal because Northeast Utilities, which is based in Hartford but registered in Massachusetts, will remain the corporate parent of subsidiaries still subject to the state’s jurisdiction.
Attorney General George Jepsen said he can’t support or oppose the merger because he lacks information about the effect on Connecticut.
Northeast Utilities spokesman Al Mara says the DPUC does not have jurisdiction over the proposed merger, but the company is providing the agency copies of everything submitted to other state and federal regulators.
(Copyright 2011 by The Associated Press. All Rights Reserved.)