Mergers & Acquisitions
Montana Regulators Postpone NorthWestern Energy and Black Hills Merger Decision to November 10
By News Desk ·
Key takeaways
- The Montana Public Service Commission postponed its vote on the $15.4 billion NorthWestern Energy and Black Hills merger until November 10.
- Commissioner Jennifer Fielder sought time to propose reserving part of the Colstrip coal plant acquisition for Montana customers.
- Commissioners Jeff Welborn and Randy Pinocci backed the delay, while Annie Bukacek and Kirk Bushman opposed it.
- The PSC's statutory final day to act is November 12, and Montana regulators will be the last to vote on the deal.
The Montana Public Service Commission postponed its vote on the $15.4 billion merger of NorthWestern Energy and Black Hills Corp until November 10, after Commissioner Jennifer Fielder requested more time to propose an additional condition. The commission disclosed the delay on Tuesday, according to Yahoo.
Montana PSC Delays NorthWestern and Black Hills Vote
Fielder said staff analysts had addressed many of her concerns about the merger proposal, but she wanted time to propose a condition recommended by two opposing groups. The condition would reserve a portion of NorthWestern's acquisition at the coal-fired plant in Colstrip for Montana customers if it would be the most affordable option. "I think that there might be some good work we could yet do on that," Fielder said.
Commissioners Jeff Welborn and Randy Pinocci supported Fielder's motion to postpone the final decision, while Commissioners Annie Bukacek and Kirk Bushman opposed it. Bukacek, who has voted to support NorthWestern, urged against the delay, saying the proposal was made more than a year ago and the commission should vote this week to avoid more staff time and travel costs. "Enough's enough," Bukacek said.
Most parties in the case ended up supporting the merger or agreed not to oppose it after the utilities addressed their concerns. 350 Montana and Montana Farmers Union continued to oppose it and suggested conditions the PSC should place on any merger. At the meeting, roughly 30 people urged the PSC to oppose the merger, citing concerns including the costs more data centers might have on Montana customers. PSC legal and regulatory staff recommended approval, citing support from the Montana Consumer Counsel and restrictions aimed to protect NorthWestern's Montana assets from financial activities of the parent company.
NorthWestern Energy and South Dakota-based Black Hills announced plans to merge in August 2025 pending regulatory approval. Black Hills plans to be renamed Bright Horizon Energy Corporation and trade on the NYSE as "HZN" after the merger, according to TradingView. If approved, the new company, to be called Bright Horizon Energy, would operate in Montana, South Dakota, Arkansas, Colorado, Iowa, Kansas, Nebraska and Wyoming.
Montana Farmers Union's Recorded Activity
According to akta.pro company records, Montana Farmers Union is a 100-year-old grassroots non-profit headquartered in Great Falls, Montana, serving family farmers, ranchers and rural communities through membership dues, educational programming, legislative advocacy and cooperative development support. The organization was founded in 1900 and has an estimated revenue of $1 million-$5 million. Its leadership includes President Walter Schweitzer, Education Director Jodi Koterba, Member Services & Government Affairs Director Rachel Prevost and Chief of Staff Matt Rains.
November 12 Deadline for the PSC
Based on statute, the final day for the PSC to act is Thursday, November 12. Regulators in Montana will be the last to vote on the deal.