FERC Grants Approval To $7.4B Puget Energy Merger

Law360, New York (April 18, 2008, 12:00 AM EDT) -- The U.S. Federal Energy Regulatory Commission has given the green light to the $7.4 billion merger between Washington-based Puget Energy Inc., the parent company of electricity and natural gas utility Puget Sound Energy, and an investment consortium led by the Macquarie Group.

The energy regulator approved the merger Thursday after finding that Puget Energy’s proposed “ring fencing” measures, which are put in place to prevent cross-subsidization, were adequate. FERC also said the deal would not result in any horizontal or vertical market power, nor would wholesale...
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