Five transmission projects intended to serve New York City and respond to a potential nuclear plant closure suffered setbacks as a divided FERC rejected the developers’ cost allocation proposals and reduced their requested returns on equity.

Iberdrola SA announced it is acquiring UIL Holdings, which has electric and gas distribution companies in Connecticut and Massachusetts, in a cash and stock deal valued at $3 billion.

Earnings from U.S. operations were a bright spot for Spanish utility conglomerate Iberdrola SA, as the company coped with the effects of slashed government subsidies for renewable energy in its home country.

News briefs on companies in PJM Interconnection: AEP, Dominion, First Energy, GDF Suez Energy, and Iberdrola USA.

State briefs from around PJM's territory. Included this week are Kentucky, Maryland, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania, and West Virginia.

PJM offshore wind took one step forward and one step back as BOEM announced the auction of 112,800 acres off Virginia while the NJ BPU rejected Fishermen's Energy.