(MURFREESBORO) More news on the merger between Murfreesboro Electric and Middle Tennessee Electric being approved. Wednesday morning's WGNS' Action Line radio show featured Chief Cooperative Business Officer Brad Gibson and Mayor Shane McFarland.
Gibson explained how customers of the electric utility would benefit from the merger . . .
Middle Tennessee Electric will pay $245 million for Murfreesboro Electric Department. When you include the interest, the total payment will be $302 million over 15 years.
Murfreesboro Mayor McFarland said that the city would continue to own the building and land out of which Murfreesboro Electric operated, however Middle Tennessee Electric would continue to lease the almost two square block facility on College and Maple for as long as needed.
The broadcast included conversation about earlier reports that Middle Tennessee Electric had secured land off Veterans Parkway on which a massive headquarters and operation center would be constructed.
Gibson was quick to explain that the COVID-19 pandemic has taught business many lessons . . .
Since electric utilities are expanding the services offered to include internet, cable TV and 5G, we asked Mayor McFarland who will own the utility poles, Middle Tennessee Electric or Murfreesboro . . .
The transition date has not yet been set, however the group's legal departments are working on that at this time. NewsRadio WGNS will keep you informed.
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