Albany

State regulators have put off making a decision on Comcast's $45 billion deal to acquire Time Warner Cable for the third time in three months.

If approved, the giant telecom merger would impact 300,000 households in the Capital Region that subscribe to Time Warner Cable, which sells TV, Internet, phone and home security services.

Comcast and Time Warner Cable signed off last week on a decision by the Public Service Commission to try to schedule a vote for Feb. 26, with plans to issue a formal written decision by March 3.

The delay doesn't come as a surprise since the federal government delayed its own review of the merger as it sought access to thousands of documents requested in the complex and often controversial case.

PSC spokesman James Denn said the transaction value of the New York part of the deal is worth $3 billion. It will have an impact on 2.2 million cable customers in the state.

PSC staff have warned the panel that the merger may lead to rate hikes and the closure of customer-service centers in the state.

"Because of the proposed merger's potential impact on consumers, and the complexity of the issues raised in the proceeding, Gov. Cuomo has asked the PSC to do a full and complete review of all of the issues surrounding the transaction," Denn said. "This is a complex matter and requires consideration of numerous facts that can affect millions of New Yorkers."

Although 12 months have passed since the deal was announced, Comcast officials say they still believe it will be completed.

The Federal Communications Commission's time line extends through the end of March, meaning the PSC's latest delay really doesn't slow the process for the two companies. The PSC may impose certain requirements on Comcast in New York state regarding customer service, job retention and high-speed Internet development that could cost the company as much as $300 million.

"We continue to anticipate the overall transaction will close in early 2015, and do not expect this extension to change the overall timing," Comcast spokeswoman Beth Bacha said Tuesday.

lrulison@timesunion.com • 518-454-5504 • @larryrulison