Thursday, April 26, 2007

KeySpan/ National Grid Merger: Another Snag

Newsday reports that Long Island Power Authority chairman Kevin Law demanded today that Brooklyn-based KeySpan Corp. present "in writing" a detailed plan for investigating and cleaning up old, toxic gas-plant sites before LIPA votes on a lucrative service agreement for KeySpan and its prospective owner, National Grid.

This unexpected move adds to the "rising chorus of calls for KeySpan to take action on the manufactured natural gas plants and gas storage sites, which have languished for decades under prior owners and which KeySpan acquired in 1998," Newsday says. LIPA has decided to delay a vote on the National Grid agreement.

See full story here.

See previous postings (with other possible merger complications) here.

Photo of the KeySpan logo, taken at company headquarters in Downtown Brooklyn, by photojournalist MK Metz.

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