The U.S. Department of Justice and the Federal Trade Commission recently issued proposed revisions to their horizontal merger guidelines. Because the Federal Energy Regulatory Commission’s analytical framework for assessing the competitive effects of horizontal electric utility mergers is based on the current DOJ/FTC horizontal merger guidelines, proposed revisions to the guidelines could trigger changes to FERC’s horizontal electric utility merger analysis and potentially lead to a significant divergence of merger analysis between FERC and the antitrust enforcement agencies. Read more…