N.Y. regulators delay Iberdrola buyout decision

ALBANY, N.Y. – New York’s Public Service Commission has postponed consideration of Iberdrola SA’s proposal to buy Energy East Corp.

The commission planned Wednesday to consider staff recommendations for various conditions on the $4.6 billion deal. Spokesman James Denn says two of the five board members were unable to attend the meeting for personal reasons.

The PSC is expected to take up the proposal again on Sept. 3.

Maine-based Energy East is the parent of Central Maine Power Co., Rochester Gas and Electric Corp. and New York State Electric and Gas. It also owns power companies in Connecticut and Massachusetts. Regulators in each of those states have approved the takeover by Iberdrola, which is based in Spain.

But the New York PSC staff has been opposed over competitive and consumer cost issues.