Patrick Administration Seeks Delay In Utility Merger
Gov. Deval Patrick's administration has asked state utility regulators to hold up on approval of Connecticut-based Northeast Utilities' proposed $4.66 billion purchase of Boston-based NStar.
The Boston Globe reports that the state Department of Energy Resources has asked the Department of Public Utilities not to make a decision until NStar completes a formal review of its rates.
That could result in approval being put off until late next year — a delay an NStar spokeswoman says could jeopardize the deal.
The proposed merger would create the largest utility company in New England. It was given the green light by federal regulators earlier in the month.
Officials of Northeast Utilities and NStar have said the merger would not stifle competition or increase rates - and in fact would result in savings to customers.
This program aired on July 18, 2011. The audio for this program is not available.