Chicago utility giant Exelon and New Jersey's Public Service Enterprise Group have abandoned their $16 billion union after failing to reach a settlement with New Jersey regulators. Last week's decision to terminate the deal followed several failed discussions with state officials and consumer advocates. The companies said that gaps between the settlement positions were insurmountable. Regulators in several states have blocked four of the nine largest utility deals in the past three years.
September 18, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Chicago utility giant Exelon Corp. and New Jersey’s Public Service Enterprise Group Inc. have abandoned their $16 billion union after failing to reach a settlement with Garden State regulators.
The Thursday decision to terminate the deal, which was announced 19 months ago, followed a number of failed discussions with state officials and consumer advocates.
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