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Crucial decision ahead for public service commission
|The five-member commission next month has a key decision to make: whether to allow a large Spanish energy company, Iberdrola, to buy Energy East, the corporation that owns Rochester Gas and Electric Corp. and New York State Electric and Gas, which between them serve 1.3 million Upstate homes, farms and businesses. Price tag: $4.5 billion.|
The staff of the commission has recommended that the board turn thumbs down, partly because it would give one company control of not only the wires and pipes that carry gas and electricity to customers but also some power plants and other facilities that generate the electricity.
“Full divestiture of all the generation Iberdrola and Energy East own, and their complete exit from the generation business in New York, is needed to fully protect ratepayers from the pernicious effects of vertical market power,” according to a staff report on the plan.
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