FERC ALJ Approves Three-Way Combo
An administrative law judge at the Federal Energy Regulatory Commission has recommended approval of the proposed three-way merger of WPL Holdings, IES Industries, and Interstate Power Co. to form Interstate Energy Corp.
Earlier this year, the companies and the FERC staff reached an agreement on market power mitigation. One stipulation was that the utilities had to contract for purchase of transmission capacity to interconnect the three utility systems. A portion of that capacity would be made available to other utilities on a first-come basis.