Iberdrola deal moves forward
The sale of Central Maine Power's parent company seems imminent after New York regulators last week approved Spanish utility Iberdrola's $4.6 billion deal to acquire Energy East.
New York was the only state where regulators had not approved the deal. The Maine Public Utilities Commission last January approved the deal, which will affect the 80% of electricity users in Maine who are CMP customers. Iberdrola, one of the largest energy companies in the world, pledged that the sale would not adversely impact rate agreements or policies, according to VillageSoup. Iberdrola is also a leader in wind power - an area in which Maine hopes to expand.
A CMP spokesman declined comment, saying the terms of the agreement approved by the New York Public Service Commission still have to be finalized.
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