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Utility merger accord sought
|ALBANY -- U.S. Sen. Charles Schumer is urging Iberdrola SA and state regulators to hammer out a settlement on the Spanish utility's $4.5 billion merger with Energy East Corp.|
Schumer, who has been outspoken about the potential benefits of the deal for the state's alternative energy supply, met last Friday with Garry Brown, chairman of the five-person Public Service Commission that must approve the deal.
"It was a very positive meeting," Schumer said Monday in a conference call with reporters.
The PSC isn't expected to vote on the deal until its August meeting at the earliest. Iberdrola and Energy East have been going through a process, much like a legal trial, in which the two companies have tried to justify the merger to an administrative law judge.
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