Blackstone, Con Ed Reach Deal Over $11B Transmission Project

Law360, New York (June 5, 2012, 3:42 PM EDT) -- The Blackstone Group LP has reached a deal with Consolidated Edison Co. of New York Inc. to protect ratepayers from bearing the costs of its $11 billion, 1,000-megawatt green power line project, according to documents filed Monday with the New York State Public Service Commission.

Transmission Development Inc., the Blackstone unit overseeing the 330-mile Champlain Hudson Power Express project stretching from Quebec to New York, agreed to address Con Ed's concerns that its customers were not sufficiently protected from costs associated with the transmission project....
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