April 2, 2012
PURA Issues Final Decision Approving Settlement Agreement for NU/NSTAR Merger
The Connecticut Public Utilities Authority (PURA) today issued a final decision in which it approved a settlement agreement that allows for the proposed merger of Northeast Utilities (NU) and NSTAR.
The decision, Docket No. 12-01-07, can be found on the PURA website at www.ct.gov/pura
In its final decision, PURA concluded that:
“The CT Settlement is approved by the Authority and is advantageous to rate payers based on a rate credit of $25 million to CL&P ratepayers and a CL&P rate freeze until December 1, 2014. In addition, the CT Settlement provides for $15 million to fund an energy efficiency program; development of a micro grid infrastructure; provides for the same levels and types of charitable cash donations and civic commitments; provides for lineman apprenticeship program; improved storm response; establishment of an irrevocable land trust; and $300 million spending in additional system resiliency.”