Murfreesboro Electric merger with Middle Tennessee Electric finalized
The merger between the Murfreesboro Electric Department (MED) and Middle Tennessee Electric (MTE) became official and finalized today.
“Now we begin bringing our two great teams together for the benefit of all those we serve,” said Chris Jones, 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 TVA’s regulatory review and approval, which came in early June, MTE, MED and the City of Murfreesboro have coordinated efforts to close the transaction over the past few weeks. Closing was completed June 30, making July 1 the first official day that the two utilities are now one.
“There are a number of efficiencies and synergies our coming together will realize,” Jones said. “We are merging our technology platforms, unifying processes and over time we will reduce duplication of effort and investments.”
Jones added that MED customers, now new MTE members, can look for information and updates via U.S. mail and at mtemc.com beginning the week of July 6.
“Our teams are working hard to ensure the transition goes smoothly,” he said. “Most MED customers should not notice any changes.”
