23rd Aug 2007 07:00
National Grid PLC22 August 2007 22 August 2007 National Grid plc UPDATE ON NATIONAL GRID ACQUISITION OF KEYSPAN National Grid announces that the New York State Public Service Commission(NYPSC) has today unanimously voted to approve the acquisition of KeySpan. This follows the settlement in principle previously announced on 9 July 2007 andis the final step in the thorough review process the merger has received by thePublic Service Commission and staff for over a year. During the session, the Commission set out additional conditions for theacquisition on which their approval is based. These relate to financialring-fencing for customers, service quality and details around the required saleof Ravenswood. A written order is expected on Thursday 23 August. On receipt,National Grid will consider these conditions and, if acceptable, will moveswiftly towards completion of the transaction. Contacts National Grid: Investors David Rees +44 (0)20 7004 3170 +44 (0)7901 511322 (m) Richard Smith +44 (0)20 7004 3172 +44 (0)7747 006321 (m) James Waite +44 (0)20 7004 3171 +44 (0)7977 440902 (m) Media Clive Hawkins +44 (0)20 7004 3147 +44 (0)7836 357173 (m) Brunswick: Paul Scott +44 (0)20 7396 5333 +44 (0)7974 982333(m) This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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