PSC critical of Spanish utility's merger plan by LARRY RULISON

Iberdrola SA's proposed acquisition of Energy East will hurt state consumers, according to staff reports

ALBANY -- Officials at the state Public Service Commission believe that Spanish utility Iberdrola SA's $4.5 billion acquisition of Energy East Corp. will be bad for New York consumers as planned.
Based in New Gloucester, Maine, Energy East has 3 million customers in New York and New England. Its Rochester-based subsidiary owns New York State Electric & Gas, which serves about 50,000 customers in the Capital Region.

Iberdrola came to the PSC back in August seeking regulatory approval for the deal within six months -- a time period that ended Friday.

PSC approval will take much longer than that. A hearing has been scheduled for Feb. 25, and briefs are due in March. A vote by the PSC's five commissioners has yet to be scheduled.

So far, PSC staff that provide information and recommendations to the commissioners are opposing the deal on several fronts.

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