Mass. Regulators Give Final OK To NU-NStar Deal
Massachusetts regulators have approved Northeast Utilities' $5 billion purchase of the energy company NStar, clearing the way for the formation of one of the biggest U.S. utility companies.
The state Department of Public Utilities OK'd the deal Wednesday. Connecticut regulators approved the deal Monday.
Massachusetts requires NStar to provide detailed financial information by April 15, 2015, to improve transparency. Northeast Utilities and NStar previously agreed to buy more than a quarter of the power produced by the proposed Cape Wind offshore wind farm as a condition of the deal.
In Connecticut, Northeast Utilities agreed to a rate credit for customers, a rate freeze for distribution costs, $300 million for system improvements and other demands by the state.
Northeast Utilities, which is based in Hartford, has said the deal is expected to close by April 16.
This program aired on April 4, 2012. The audio for this program is not available.