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Public comment period extended on utility merger

Apr 10, 2013 7:29 am
[caption id="" align="alignright" width="264"] (dailyfreeman.com)[/caption]

Kyle Adams is reporting in the Daily Mail the public comment portion of the proposed acquisition of CH Energy Group by Fortis, Inc. has been extended, following pressure by state Senator Cecilia Tkaczyk (KAT-chik) and others. CH Energy is the parent company of the Central Hudson Gas & Electric Corporation. Fortis owns utility companies in Canada and the Caribbean, and currently services more than two million customers. Tkaczyk is calling for more transparency around the sale. “The Public Service Commission is supposed to be a watchdog, protecting consumers,” she wrote in a prepared statement. “Hudson Valley families and businesses are already paying outrageously high utility bills, and they need reassurances that this proposed sale with not increase energy costs....”The $1.5 billion merger has already been approved by the CH Energy shareholders, the Federal Energy Regulatory Commission, the Department of Justice and the Securities and Exchange Commission. The Public Service Commission extended the comment period by 45 days, as of April 1. Two additional hearings have been scheduled: At Civic Center Plaza in Poughkeepsie on April 17, and at Kingston Town Hall, April 18. Read the full story in The Daily Mail.
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