The battleground between federal and state regulators over energy and environmental policy has moved into the arena of mergers and acquisitions, sharpening pain for the industry as it seeks to extend consolidation and wring efficiency out of existing power plants and transmission assets.

Regulators at the Federal Energy Regulatory Commission and various state level agencies are charged with reviewing large transactions among regional power companies to guarantee a variety of standards are met. The federal agency’s ruling on the issue is usually questioned over price and fairness of access, not environmental standards. Keep reading →