8-KOther Events

EVERSOURCE ENERGY 8-K Report, Corporate Update (Jul 7, 2011)

Filed July 7, 2011For Securities:ES

Summary

This Form 8-K filing by Northeast Utilities (NU) on July 7, 2011, reports a significant development in its proposed merger with NSTAR. The Federal Energy Regulatory Commission (FERC) has issued an order authorizing the merger. This represents a crucial step forward, as it means NU and NSTAR have now secured all but two of the necessary regulatory approvals. Investors should note that while the FERC approval is a positive catalyst, the merger is still contingent on obtaining final approvals from the Nuclear Regulatory Commission (NRC) and the Massachusetts Department of Public Utilities (MDPU). Evidentiary hearings for the MDPU approval were ongoing at the time of the filing, indicating that these final regulatory hurdles are actively being addressed.

Key Highlights

  • 1FERC has authorized the merger between Northeast Utilities (NU) and NSTAR.
  • 2This FERC approval is a major step towards the completion of the merger.
  • 3NU and NSTAR have now received all but two required regulatory approvals.
  • 4The remaining approvals are from the Nuclear Regulatory Commission (NRC) and the Massachusetts Department of Public Utilities (MDPU).
  • 5Evidentiary hearings before the MDPU commenced on July 6, 2011, and were expected to conclude by the end of July.
  • 6The filing references prior disclosures regarding the merger, including a Form S-4 registration statement and recent 10-K and 10-Q filings.

Frequently Asked Questions

The main news is that the Federal Energy Regulatory Commission (FERC) has issued an order authorizing the proposed merger between Northeast Utilities (NU) and NSTAR.

Yes, while the FERC approval is a significant milestone, the merger is still pending approval from the Nuclear Regulatory Commission (NRC) and the Massachusetts Department of Public Utilities (MDPU).

Evidentiary hearings before the MDPU began on July 6, 2011, and were scheduled to conclude by the end of July, indicating that the review process is actively underway.

Investors can refer to the Registration Statement on Form S-4 (Registration No. 333-170754) filed by NU, as well as NU's Annual Report on Form 10-K for the year ended December 31, 2010, and its Quarterly Report on Form 10-Q for the quarter ended March 31, 2011.