This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Massachusetts DPU Approves NU–NSTAR Merger

The Massachusetts Department of Public Utilities (DPU) today approved the merger between Northeast Utilities (NYSE: NU) and NSTAR (NYSE: NST). The approval comes 18 months after the companies first announced the merger anticipated to save customers $780 million in the next 10 years. The DPU also approved the settlement agreements the companies reached with the Massachusetts Department of Energy Resources and the Attorney General which ensure rate benefits for customers along with increased environmental commitments.

“Today marks a historic day for our companies and our customers,” said Thomas J. May, NSTAR Chairman, President and CEO. “We thank the DPU and our employees for their hard work over these past many months, and now set our sights on finalizing our merger in the coming days. Together with NU, we look forward to creating a stronger company which builds on our shared history of delivering quality service to New England.”

As a direct result of the merger, customers will receive upfront benefits in the form of rate credits, cost savings, increased focus on environmental initiatives and greater transparency – all unprecedented benefits for Massachusetts customers. The combination of Northeast Utilities and NSTAR also creates one of the nation’s largest utilities, with six regulated electric and gas utilities in three New England states and approximately 3.5 million customers. NU’s numerous transmission investment opportunities coupled with NSTAR’s strong balance sheet translates into an impressive growth opportunity for the combined company. The combined company will be larger, more diverse and better positioned to support continued economic growth in New England and meet customers’ future energy needs.

“A year and half ago, we set out to combine Northeast Utilities and NSTAR and create a great New England-based company, knowing that together we would be even stronger advocates for our customers and the region as a whole," said Charles W. Shivery, NU's Chairman, President and CEO. "Each day of the merger process has only reinforced the value that joining our companies will deliver, tomorrow and for many years to come."

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,096.90 -106.47 -0.58%
S&P 500 2,098.62 -9.16 -0.43%
NASDAQ 4,967.1410 -12.76 -0.26%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs