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Final approval of the merger between National Grid Group and Niagara Mohawk is expected in the early part of 2002.
The New York Public Service Commission approved the plan and rate reduction on Nov. 28. The merger is still subject to approval from the Securities and Exchange Commission.
"That's the remaining hurdle," said Stephen Brady, public affairs manager for Niagara Mohawk.
The merger will result in $1 billion of savings over the next decade for Niagara Mohawk electrical customers.
The plan calls for an immediate 8 percent reduction in electricity delivery prices, price stabilized electricity commodity service for residential and small …