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Mergers and Acquisitions

Issue 4 and Volume 104.

Northeast Utilities and Yankee Energy System Inc. have completed their merger. Integration is under way and transition teams are reported to have identified more than $10 million in savings from synergies to be realized over the next five years.

NiSource has announced an agreement to buy Columbia Energy Group for $6 billion. Upon completion, the deal will make NiSource the largest natural gas company east of the Rocky Mountains. The combined utility will have 4.1 million natural gas, electricity, water and propane customers.

Reliant Energy has completed its purchase of Dutch power generator N.V. UNA.

A-55 Inc. has acquired Electric Power Technologies Inc.

American Electric Power and Central & South West Corp. have only one more regulatory approval before they can complete their merger. FERC has given conditional approval, leaving only the Securities and Exchange Commission approval. The merger, announced late in 1997, is expected to reach completion in mid May 2000. FERC has mandated the utility to join an RTO by the end of 2001 along with some generation divestitures.

CMS Energy Corp. is selling its 80 percent interest in the 236 MW Lakewood Cogeneration project in New Jersey to Consolidated Edison Development for $94 million.