Blocked in its bid for neighboring Southwest Gas, Austin,TX-based Southern Union Co. focused on the East, picking upapproval from its board of directors and that of the Fall River GasCo., on a merger agreement.
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ConEd-O&R Merger Gets Nod from FERC
FERC last week gave the green light to the merger between NewYork-based Consolidated Edison Inc. and neighboring Orange andRockland Utilities (O&R), moving them a step closer to becomingone of the most formidable electric and gas utility competitors inthe east. The deal, which has been valued at $790 million, isexpected to be completed by mid-year – assuming the regulatoryapprovals of other federal and state agencies are forthcoming.
Arkla Begins Unbundling Process
While neighboring LDC Oklahoma Natural Gas continues its attemptto stave off unbundling, Arkla moved forward last week with acollaborative process involving stakeholders that is intended toproduce a downstream unbundling plan next April with full retailcompetition by October 1999.