Justice Department OKs merger

The agency notified the utility companies on Friday that it would allow a federally mandated waiting period to expire without issuing further requests for information or taking any further action.

The Justice Department routinely reviews merger proposals and their effects on competition. By allowing the waiting period to expire, the department effectively authorized the companies to proceed with their merger.

Earlier last week, the two utilities cleared another hurdle in the merger process when the Federal Energy Regulatory Commission gave its approval. They still need authorization from the Securities and Exchange Commission since both companies are publicly traded and have stock issued.

The Public Utilities Commission of Nevada gave conditional approval of the merger in January, but plans to conduct a hearing on May 10 to determine whether the utilities violated the terms of the agreement.

Questions were raised by commissioners at a meeting last week on tariffs filed with FERC regarding rates to be charged by power plants when the utilities sell them to new owners.

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