The Public Utilities Regulatory Authority (PURA) did not dispute that Iberdrola has the financial resources and technical know-how to carry through the merger, but expressed concern local utilities would emerge weaker.
“Iberdrola’s record of mergers and divestitures in the region is mixed and does not offer a consistent picture of sustained commitment to strong, resilient and dedicated local distribution of gas and electricity,” PURA wrote in its draft decision.
“The
