New York’s senior senator, Charles Schumer, lashed out at the stateâ€™s Public Service Commission today, calling its demands â€œirrational and illogical,â€ following a non-binding ruling by an administrative law judge Monday to reject Iberdrola SAâ€™s $4.5 billion buyout of Energy East Corp., parent to New York State Electric & Gas Corp.
NYSEG has nearly 90,000 customers in Westchester, Putnam and Dutchess counties.
The commission is seeking â€œto place severe restrictions on the worldâ€™s leading wind power producer,â€ Schumer said in a written statement.
In his ruling, the judge urged the commission, should it decide to go ahead with the buyout, to require Iberdrola to sell of all of its wind-energy assets in the state, among other conditions.
But Schumer said that stipulation would risk jobs and a $2 billion investment in the stateâ€™s economy. The Democrat said he is seeking to meet with PSC Chairman Garry A. Brown about Iberdrolaâ€™s bid, which likely will be withdrawn if PSC rejects the plan.
â€œI am requesting this meeting to discuss the importance of brokering a deal that will keep customer rates low, provide system reliability and bring much-needed wind power to New York,â€ Schumer said.
The PSC is expected it issue its ruling on the buyout next month.
New York is the last of four Northeastern states to weigh in on the deal. Connecticut, New Hampshire and Maine have approved the buyout.