Reps Carson and Spartz, Senator Warren Urge Action on BlackRock Acquisition

FERC is responsible for approving mergers, acquisitions, and sales of public utilities that are “consistent with the public interest.” In their letter to FERC Chair Laura Swett, the lawmakers argue AES’s merger with GIP – a private equity firm and subsidiary of BlackRock, a global asset management company – will increase already high utility rates. AES Indiana customers have already seen approximately a 47 percent increase in utility bills over the last 10 years, the lawmakers argue, and FERC has a responsibility to reject applications that go against the public interest. 

Congressman Carson previously sounded the alarm on GIP/BlackRock’s acquisition of AES, submitting a comment letter to FERC.  Additionally, Congressman Carson has advocated to hold utility companies accountable statewide, calling on the Indiana Utility Regulatory Commission to hold utility provider NIPSCO accountable for a more than two week blackout in Gary, Indiana in August. 

“A public utility company should answer to the public, not shareholders” said Congressman Carson.“This deal could raise already high utility rates for Hoosiers, which is why I’m leading a bipartisan effort to urge the federal regulatory bodyresponsible for protecting consumers to reject this application. I’m holding utility companies accountable when they prioritize profit over people. Hoosiers shouldn’t have to continue shouldering the burden of high energy costs.” 

The full letter to FERC is HERE.