NSTAR and Northeast Utilities Reach Comprehensive Merger-Related Agreements with Massachusetts DOER and Massachusetts Attorney
NSTAR (NYSE: NST) and Northeast Utilities (NYSE: NU) have reached separate, comprehensive merger-related agreements with both the Massachusetts Department of Energy Resources (DOER) and the Massachusetts Attorney General (AG) that will guarantee substantial customer and environmental benefits, while allowing the utilities' merger to proceed. The settlement agreements both call for a one-time $21 million rate credit to be directed to customers of NSTAR Electric, NSTAR Gas and Western Massachusetts Electric Company (WMECo). Base distribution rates for the utilities would then be frozen until 2016.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.