April 22, 2025

FERC extends BlackRock’s blanket authorization to acquire utility securities for three years

Despite protests citing potential conflicts of interest, FERC renewed BlackRock’s ability to acquire up to 20% of voting securities in U.S. traded utilities.

Green Light: BlackRock Inc., along with its subsidiaries and managed funds, secured a three-year extension of its blanket authorization from FERC, according to an April 17 order. This allows them to continue acquiring voting securities in U.S. traded utilities, subject to existing conditions. The decision follows a review process that included protests from various stakeholders. Setting the Stage: BlackRock initially ...

Details:

Filing Date: April 17, 2025

Docket Numbers:

EC25-12

Short Summary:

BlackRock Inc., along with its subsidiaries and managed funds, secured a three-year extension of its blanket authorization from FERC, according to an April 17 order. This allows them to continue acquiring voting securities in U.S. traded utilities, subject to existing conditions. The decision follows a review process that included protests from various stakeholders.

Impact Level:

Categories:

Dealmaking & Transactions

Tags: Acquisition of Securities

Entities: BlackRock Inc.

Markets:

Regions: U.S.

States:

Regulators: FERC

Courts:

Documents:

Acquisition of Securities – Application – Order Approving