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NY regulators: Lock in Iberdrola wind power pledge  

ALBANY, N.Y. – New York utility analysts say Iberdrola SA should have to make a binding commitment, not just a promise, to spend $2 billion developing wind energy in the state if it is allowed to buy Energy East Corp.

The company pledged the spending if the Public Service Commission _ whose staff questions whether the $4.6 billion deal would be in the public’s interest _ approves it.

In a recent brief, PSC analysts maintain their opposition to the Spanish company owning wind-energy plants in the state.

But they say that if the agency’s five-member decision-making panel “wishes to recognize the proposed $2 billion investment as a benefit, that benefit should be rendered concrete, through a binding obligation.”

A decision on the proposed deal isn’t expected until mid-August at the earliest.

July 1, 2008

newsday.com

This article is the work of the source indicated. Any opinions expressed in it are not necessarily those of National Wind Watch.

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