8-KOther Events

EVERSOURCE ENERGY 8-K Report, Corporate Update (Apr 3, 2012)

Filed April 3, 2012For Securities:ES

Summary

This 8-K filing from Northeast Utilities (NU) on April 3, 2012, provides an update on the critical merger process with NSTAR. The Connecticut Public Utility Regulatory Authority (PURA) has issued its final decision, confirming approval of the merger. This represents a significant step forward, as it resolves a key regulatory hurdle in Connecticut. However, the merger is still contingent on approval from the Massachusetts Department of Public Utilities (DPU). NU and NSTAR have reached settlement agreements with Massachusetts state agencies, and are awaiting the DPU's decision, which is expected on April 4, 2012. If favorable, the company anticipates the merger's completion by April 16, 2012. Investors should monitor the DPU's decision closely as it will determine the immediate closing of this transformative transaction.

Key Highlights

  • 1Connecticut Public Utility Regulatory Authority (PURA) issued a final decision approving the merger between Northeast Utilities (NU) and NSTAR.
  • 2The PURA final decision confirms a prior draft decision, clearing a significant regulatory hurdle in Connecticut.
  • 3The merger's completion is still pending approval from the Massachusetts Department of Public Utilities (DPU).
  • 4NU and NSTAR have reached settlement agreements with the Massachusetts Attorney General and Department of Energy Resources, subject to DPU approval.
  • 5The DPU is expected to issue a decision on April 4, 2012.
  • 6If DPU approval is granted, NU expects the merger to be consummated by April 16, 2012.
  • 7This filing is also considered written communication under Rule 425 of the Securities Act.

Frequently Asked Questions

The main purpose of this 8-K filing is to inform investors about the final decision from the Connecticut Public Utility Regulatory Authority (PURA) approving the merger between Northeast Utilities (NU) and NSTAR, and to provide an update on the pending approval from the Massachusetts Department of Public Utilities (DPU).

No, the merger has not been fully approved. While PURA in Connecticut has issued its final approval, the merger is still awaiting a decision from the Massachusetts Department of Public Utilities (DPU).

Northeast Utilities expects the merger to be consummated by April 16, 2012, provided that the Massachusetts Department of Public Utilities (DPU) issues an acceptable decision on April 4, 2012.

NU and NSTAR have reached comprehensive merger-related settlement agreements with both the Massachusetts Attorney General and the Massachusetts Department of Energy Resources. These agreements are subject to DPU approval.