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Saturday, November 21, 2009   43º F

Updated 02/20/2008 05:36 AM

Public hearings on proposed energy buyout

By: Web Staff

BINGHAMTON, N.Y. -- Public hearings began on whether or not a Spanish utility company should take over NYSEG, one of the state's largest gas and electric providers.

Last year, Iberdrola announced they wanted to buy Energy East, NYSEG's parent company, for more than $4 million. A hearing on the acquisition is tentatively set for next Wednesday.

The Department of Public Service wanted to give community members a chance to comment. The public hearings will continue all across the state until this Friday.

"I believe that NYSEG is arguing that the entire arrangement would not be detrimental to rate payers in any way and I know there are other parties that are arguing the opposite," said Rafael Epstein, DPS Administrative Law Judge.

The next comment session will be held Wednesday in Ithaca.