Ohio Regulators Approved AES Sale to BlackRock
The Public Utilities Commission of Ohio authorized the $33 billion acquisition of the utility company.
Updated on Sept. 22, 2026 in Utilities
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The Public Utilities Commission of Ohio has officially approved the sale of AES Ohio to BlackRock. This major transaction is valued at $33 billion.
Why it matters
The decision establishes clear regulatory guardrails for the utility's future operations. These measures aim to protect the financial interests of regional consumers.
The transaction reached a total value of $33 billion. It remains unclear exactly when the ownership transfer will be finalized.
The players
Public Utilities Commission of Ohio
This state agency oversees and regulates the operations of electricity, gas, and telecommunications providers in Ohio.
AES Ohio
This company is a regulated utility providing electric services to customers throughout portions of the state.
BlackRock
This multinational investment management corporation serves as the buyer in the approved acquisition.
The details
Under the new regulatory agreement, AES Ohio will continue to serve as a regulated utility provider. The Commission mandated that customer rates cannot be used to offset any costs associated with the merger.
Timeline
September 22, 2026: The Ohio Public Utilities Commission approved the sale of AES Ohio.
Market Landscape
This acquisition fits into a broader trend of large-scale capital investment in regional utility infrastructure. The move aligns with the established regulatory framework set by the Ohio Public Utilities Commission regulatory standards for utility mergers.
Customers will not see costs related to this merger reflected in their utility rates. The regulatory order specifically protects household budgets from absorbing expenses linked to the $33 billion transaction.
The takeaway
The commission has prioritized consumer protection by prohibiting the transfer of merger costs to rate-payers. Future board decisions involving data centers will also require recusal if members hold pecuniary interests.
Further reading
For more information on the regional energy sector, visit the Utilities section.
Source note: This article includes information reported by Energy Central.
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