Blog 2: Prevalence of Regulatory Commitments and Conditions in Utility Mergers

As consolidation in the industry has increased, so has the prevalence and scope of merger commitments and conditions.  Since 2010, 37 state regulatory commissions have reviewed 35 mergers.[1]  Each of the 33 mergers that were approved included regulatory commitments made by the buyer/subject utility(ies) and specific conditions adopted by the jurisdictional commission in its order approving the transaction.

 

Utility Merger Commitments or Conditions Adopted Since 2010

Source: Concentric Energy Advisors, Inc. research of merger announcements, applications, settlements and orders

[1] Since the completion of Recent Trends in Utility Mergers: Standard of Review, the Texas Commission issued its order rejecting the NextEra Energy/Oncor merger and the Kansas Commission issued its order rejecting the Great Plains Energy/Westar merger.  Both proceedings are on-going

 

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