Regulators Will Review NU-NSTAR Merger
When Connecticut-based Northeast Utilities announced a merger with Massachusetts-based NStar, regulators in Connecticut originally ruled there were no grounds for them to review the deal, since the Massachusetts company would become part of NU.
But earlier this month, PURA, the Public Utilities Regulatory Authority, issued a draft decision that it does have jurisdiction, and is obligated to review the terms of tthe merger, to make sure that Connecticut customers will be properly served after the merger. Today, that draft decision became final.
PURA says, among other things, it needs to make sure that any conditions agreed to or imposed in Massachusetts for the merger to go through, with affect over the resulting company’s service to Connecticut customers.