|
|
Article: New York Public Service Commission Approves Niagara Mohawk-National Grid Merger Proposal.
- Article from:
- PR Newswire
- Article date:
- November 28, 2001
CopyrightCOPYRIGHT 2001 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
SYRACUSE, N.Y. -- The New York Public Service Commission today approved a merger plan between Niagara Mohawk Holdings Inc. and National Grid Group plc that will result in Niagara Mohawk Power Corp.'s electricity customers saving about $1 billion over the next 10 years, compared with rates projected without the merger.
"We are extremely gratified with the Public Service Commission's approval of our merger and rate plan," said Rick Sergel, National Grid USA president and CEO. "The plan was negotiated and endorsed by a wide array of diverse consumer, environmental and business groups and will provide significant benefits to customers and to the Upstate economy." ...