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$2B Canada-NYC 'Extension Cord' Still Needs Electricity

Law360, New York (April 19, 2013, 9:15 PM EDT) -- New York's approval of a private equity-backed power line snaking from Quebec to Queens under Lake Champlain and the Hudson River puts the estimated $2.2 billion project on course but also sets the stage for crucial negotiations with Canadian generators over who will provide green electricity.

After a contentious process that took more than three years, the Empire State's utilities regulator on Thursday granted Blackstone Group LP-controlled Transmission Developers Inc. a certificate to construct and operate the project.

As the application with the New York State...
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