National Grid is pleased to announce that it has reached an agreement in principle with the staff of the New York State Department of Public Service and several other
parties regarding the acquisition of KeySpan.
Formal documentation of the agreement in principle is currently being prepared and
is expected to be filed with the New York State Public Service Commission (NYPSC)
shortly. The terms of the agreement will be publicly available at that time.
The latest procedural schedule indicates that the merger approval will be placed
before the NYPSC for a vote on 22 August. Subject to an approval vote, completion
of the acquisition is expected shortly thereafter.