MidAmerican Energy and NV Energy have closed their merger after receiving the required final state and federal regulatory approvals or clearances from the Public Utilities Commission of Nevada (PUCN), the Federal Energy Regulatory Commission (FERC), and the U.S. Department of Justice. NV Energy will operate as a separate, locally managed company, and will continue to serve its 1.3 million electric and natural gas customers in Nevada.
In May 2013, MidAmerican Energy announced that it would take over NV Energy. The transaction was unanimously approved by both companies’ boards of directors, received the requisite approval of NV Energy’s stockholders, and equates to an enterprise value of approximately $10bn for NV Energy. Upon completion of this transaction, MidAmerican Energy Holdings Company will now have assets of approximately US$66bn and its regulated electric and gas utilities will serve 8.4 million customers.
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