The merger between the Murfreesboro Electric Department (MED) and Middle Tennessee Electric (MTE) has been finalized and is now official.
"We begin bringing our two great teams together for the benefit of all those we serve," said Chris Jones, the MTE's president and CEO. "While we've been preparing for some time, now it is real and we are thankful and excited."
Upon completion of the Tennessee Valley Authority's (TVA) regulatory review and approval, which came in early June, the MTE, the MED, and the City of Murfreesboro have coordinated efforts to close the transaction. Closing was completed June 30, making July 1 the first official day of the two utilities being one.
"There are a number of efficiencies and synergies our coming together will realize. We are merging our technology platforms, unifying processes, and over time we will reduce duplication of effort and investments," said Jones. "Our teams are working hard to ensure the transition goes smoothly. Most MED customers should not notice any changes."
MED customers, now new MTE members, can look for information and updates via U.S. mail and at mtemc.com.
