State Attorneys General Sound the Alarm About BlackRock, Vanguard Buying Large Stakes in America’s Utilities

State Attorneys General Sound the Alarm About BlackRock, Vanguard Buying Large Stakes in America’s Utilities

The acquisition by investment managers BlackRock and Vanguard of ever-increasing shares in America’s public utility companies is setting off alarm bells from conservatives and progressives alike. In April, the Federal Energy Regulatory Commission (FERC) approved a request from BlackRock to increase its ownership up to 20 percent of a public utility’s voting shares without being deemed an “affiliate” and incurring the regulatory scrutiny and disc…