2 NY Utilities Reject $2B Blackstone Power Line Plan

Law360, New York (March 19, 2012, 2:38 PM EDT) -- Two Empire State utilities on Friday rejected a proposal to allow a unit of Blackstone Group LP build an estimated $2 billion cable bringing hydroelectric power from Quebec to New York City, but environmental regulators backed the plan.

The comments came near the deadline set by the state's Public Service Commission for stakeholders to weigh in on the 1,000-megawatt Champlain Hudson Power Express project, planned by Transmission Developers Inc., which is owned by private equity giant Blackstone.

Transmission Developers needs a certificate of environmental compatibility and public need from the...
To view the full article, register now.