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Article: Niagara Mohawk Customers to See Average 8% Delivery Price Cut With Close of National Grid Merger; Merger Effective Today at 4 P.M. EST.
- Article from:
- Business Wire
- Article date:
- January 31, 2002
CopyrightCOPYRIGHT 2002 Business Wire. 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)
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Business Editors
SYRACUSE, N.Y.--(BUSINESS WIRE)--Jan. 31, 2002
Niagara Mohawk's residential customers will see an average 8 percent delivery price reduction as a result of today's completed merger between National Grid Group plc (LSE, NYSE:NGG) and Niagara Mohawk Holdings Inc. The savings will be reflected in bills beginning Feb. 1.
"This is an important day for National Grid and Niagara Mohawk," said Rick Sergel, president and chief executive officer of National Grid USA. "Through the combination of our two great companies, we will be able to deliver to Niagara Mohawk customers almost $1 billion in savings over the next 10 years. I commend ...