Support the news

Conn. Regulators Set Hearing For NU-NStar Deal

This article is more than 7 years old.

Connecticut regulators have scheduled a hearing on the state's proposed agreement approving Northeast Utilities' $4.9 billion purchase of a Massachusetts energy company.

The Connecticut Public Utilities Regulatory Authority has set a hearing for Friday to review the settlement agreement announced March 13.

Northeast Utilities agreed to a $25 million rate credit for customers, a separate rate freeze on distribution costs, $300 million for system improvements and other demands by Connecticut in exchange for state approval of the utility's proposal to buy Boston-based NStar.

Massachusetts also is considering NU's purchase of NStar. The utilities agreed to buy more than a quarter of the power produced by the long-planned Cape Wind offshore wind farm as a condition of the deal.

The hearing will be at the offices of the Public Utilities Regulatory Authority in New Britain.

This program aired on March 23, 2012. The audio for this program is not available.

+Join the discussion
TwitterfacebookEmail

Support the news