CITIZEN POWER ALLIANCE

MADRID, Spain — Iberdrola SA said Monday it expects to decide in June whether to buy Energy East Corp., which means the long-running takeover proposal would be a year old when it's finally resolved.

The Spanish utility and Energy East, the parent of Rochester Gas and Electric, announced their $4.5 billion deal in June 2007, acknowledging that many approvals were needed for the transaction to go through.

While shareholders and several New England states where Energy East does business have approved the takeover, the issue has slowed to a near-halt before the New York Public Service Commission.

Iberdrola said Monday that it doesn't expect the PSC to set out its final conditions for the transaction until June. Iberdrola Chairman Ignacio Sanchez Galan said last week that the PSC's conditions could cause Iberdrola to rethink the deal.

The Spanish company has tried "repeatedly" to negotiate with the PSC, Jose Luis del Valle, strategy director of Iberdrola, said in Madrid on Monday.

"We expect a ruling in June," said del Valle. "If the conditions are reasonable, we will close the purchase in the same month."

New York is testing how badly Iberdrola, owner of wind power turbines on three continents, wants to grow in the world's largest energy market. The PSC staff insists that Iberdrola must sell its existing wind farm in the state, on top of five plants Iberdrola agreed to sell in March.

Separately Monday, Iberdrola said first-quarter operating profit jumped 66 percent.