N.Y. Lawmakers Worried Over Gas Merger

Law360, New York (March 6, 2007, 12:00 AM EST) -- If National Grid PLC gets the go-ahead to take over fellow natural gas powerhouse KeySpan Corp., the deal will likely cause Long Island, N.Y. residents’ rates to soar, New York lawmakers said Monday.

Senator Charles Schumer, a New York Democrat, joined David Denenburg, a Nassau County legislator, and energy watchdogs to warn about the potential risks of allowing the $7.3 billion merger to go through.

“KeySpan ratepayers—Long Islanders—pay the highest rates in state and among the highest in country already,” Denenburg said on Tuesday. “Will this...
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