State Regulators Won’t Review NU Purchase Of NStar
HARTFORD, Conn. (AP) _ Connecticut regulators have declined to review Northeast Utilities’ proposed $4.81 billion purchase of a Massachusetts power company.
The state Department of Public Utility Control said Wednesday it will not get involved in the deal between the Hartford utility and NStar, which is based in Massachusetts. The deal is being reviewed by Massachusetts regulators and would result in the biggest New England utility company.
The agency said it does not believe state law allowing it to exercise its authority applies in the Northeast Utilities-NStar deal. It rejected a request by the state Office of Consumer Counsel to intervene.
Joseph Rosenthal, principal counsel at the consumer agency, said it may appeal the decision in Superior Court.
Northeast Utilities and NStar say they have routinely submitted documents and other materials related to the deal to Connecticut regulators.
(Copyright 2011 by The Associated Press. All Rights Reserved.)