US lawmakers urge regulators to reject $33B AES acquisition by BlackRock

Key facts

• Lawmakers asked federal energy regulators to reject the $33.4 billion sale of AES to BlackRock's Global Infrastructure Partners and its investors.
• The lawmakers cited concerns that the deal could increase electricity bills for consumers.
• The proposed acquisition is valued at approximately $33.4 billion including debt.
• The letter was dated September 28 and sent to Federal Energy Regulatory Commission Chairman Laura Swett.

A group of U.S. lawmakers, including Senator Elizabeth Warren, has urged federal energy regulators to reject a proposed acquisition of power company AES valued at over $33 billion. The lawmakers sent a letter dated September 28 to Federal Energy Regulatory Commission Chairman Laura Swett, expressing concerns that the deal could lead to higher electricity bills for consumers. They specifically noted that the proliferation of energy-intensive data centers is driving up electricity demand and that private equity involvement in public utilities could negatively impact consumer costs. BlackRock's Global Infrastructure Partners, along with EQT and other investors, agreed in March to acquire AES in a transaction valued at approximately $33.4 billion including debt, marking one of the largest power sector deals in recent years.