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PSC staff: Too late for hearings on Fortis deal

May 09, 2013 5:00 am
William J. Kemble reports in the Daily Freeman the state Public Service Commission staff says it is too late to call for evidentiary hearings on the proposed takeover of CH Energy Group by the Canadian company, Fortis Inc. The request for the hearing came from Consortium in Opposition to the Acquisition and Citizens for Local Power. An attorney who represents both groups called the recommendation disappointing. The staff’s recommendation, made Tues., May 7, will be considered by the commission. The commission ultimately will decide whether to allow the $1.5-billion takeover. After four recent public hearings on the matter, two New York administrative law judges said in a recommendation to the Commission, the potential benefits of the deal are outweighed by the disadvantages. CH Energy is the parent company of Central Hudson Gas & Electric Corp. Read the full story in the Daily Freeman.