Iberdrola wants to see Energy East details

The spokesman confirmed a report by Spanish state news agency EFE, in which Sanchez Galan was quoted as saying the conditions "seem reasonable in principle, but an investment of this type requires conscientious study and we've got to look at the small print."

New York state's public service commission voted to back Iberdrola's proposed $4.5 billion purchase of Energy East but imposed conditions including $275 million in tariff reductions or adjustments and for Energy East to divest fossil fuel generation and maintain capital investment levels.

The regulator released on Tuesday an expanded version of their original ruling and said that Iberdrola and Energy East must accept the terms by September 15 if the deal is to go ahead.


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