Cape Wind Deal Advances $4B Northeast-Nstar Merger

Law360, New York (February 15, 2012, 10:33 PM EST) -- Nstar on Wednesday won Massachusetts officials' backing for its proposed $4.3 billion merger with Northeast Utilities System by agreeing to buy electricity from Cape Wind, putting the controversial offshore wind farm on track to start building next year and Nstar one step closer to creating New England's largest utility.

The companies also pledged to give residential customers a one-time rate credit totaling $21 million and freeze distribution rates until 2016 in order to win approval for the merger from the Massachusetts Department of Energy Resources and...
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