NU, CT agree on merger concessions

16 Mar

To secure Connecticut’s approval of their merger, Northeast Utilities and NStar agreed to give state ratepayers $25 million, freeze rates for three years, and retain Hartford as the merged firm’s primary headquarters for at least seven years.

The concessions announced Tuesday means Gov. Dannel Malloy, Attorney General George Jepsen and Consumer Counsel Elin Swanson Katz will sign off on the proposed $4.7 billion merger, all but ensuring the state Public Utilities Regulatory Authority will approve the transaction in its ruling on April 2.

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Posted by on March 16, 2012 in Uncategorized


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