# Who will own NYSEG? oh the SPANISH! **URL:** \ **Category:** NYSpeed Off Topic\ **Created:** [September 10, 2008, 11:03am UTC](https://forums.speedlife.net/t/who-will-own-nyseg-oh-the-spanish/54680 "2008-09-10T11:03:22Z")\ **Posts on this page:** 2\ **Page:** 1
**Author:** ![Anonymity](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/anonymity/32/7215_2.png) [@Anonymity](https://forums.speedlife.net/u/Anonymity)\ **Post date:** [September 10, 2008, 11:03am UTC](https://forums.speedlife.net/t/who-will-own-nyseg-oh-the-spanish/54680/1 "2008-09-10T11:03:22Z")
> Spanish company agrees to conditions and will buy Energy East for $4.5 billion > Spanish power producer Iberdrola SA said today it has agreed to the conditions imposed by state regulators and will complete its $4.5 billion purchase of Energy East Corp., the owner of New York State Electric & Gas Corp. > Under the terms imposed by the state Public Service Commission, Iberdrola will grant a $275 million credit to NYSEG and Rochester Gas & Electric customers that could be used to reduce rates by as much as 5 percent over the next five years, or to offset future rate increases. > Iberdrola, which has said it would consider investing up to $2 billion in new wind energy projects in New York, also agreed to spend $200 million on new wind parks in the state. > Iberdrola also will sell RG&E’s fossil fuel-fired plants in New York. The company has agreed to present a plan for the sales within 90 days after the deal closes. > The PSC approved the merger last week, becoming the final regulatory agency to grant its blessing to the deal. dont know how i feel about this one… ---
**Author:** ![Carnut](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/carnut/32/7590_2.png) [@Carnut](https://forums.speedlife.net/u/Carnut)\ **Post date:** [September 10, 2008, 11:05am UTC](https://forums.speedlife.net/t/who-will-own-nyseg-oh-the-spanish/54680/2 "2008-09-10T11:05:39Z")
meh whatever