Federal regulators approve Iberdrola-UIL merger
FERC has approved the merger of Iberdrola and UIL, moving the two companies a step closer to creating one of the largest utilities in the nation, and the second largest wind developer. Connecticut and Massachusetts must also consider the deal, which is expected to close this year.
The commission found little reason for market concerns, noting that the companies both own or control generation in only one market, ISO New England, and do not control generation in any sub-markets. And FERC added that the two companies’ share of capacity that they own or control together, including potential imports from New York ISO, reflects only 0.36% and 0.55% of the installed capacity in the ISO-NE market.