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Schumer: Extend comment period on utility merger
May 03, 2013 6:51 am
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(dailyfreeman.com)[/caption]
William J. Kemble reports in the Daily Freeman U.S. Sen. Charles Schumer has called on the state Public Service Commission to extend the public comment period until the end of May on the takeover bid by Canadian-based Fortis Inc. of Central Hudson Gas & Electric Corporation’s parent company. Schumer's call came after merger opponents pledged to keep pressure on the Commission during a rally at the Ulster County Office Building in Kingston, Thurs., May 2. Opponents demanded commissioners consider how Fortis' lower credit rating and absence of long-term pledges to maintain staffing levels would hurt the status of Central Hudson as a reliable customer-centered utility. Schumer agreed the company's performance standard and rate freeze promises were inadequate. He noted that unless Fortis can adequately address all of these concerns, he will oppose the acquisition. Read the full story in the Daily Freeman.
(dailyfreeman.com)[/caption]William J. Kemble reports in the Daily Freeman U.S. Sen. Charles Schumer has called on the state Public Service Commission to extend the public comment period until the end of May on the takeover bid by Canadian-based Fortis Inc. of Central Hudson Gas & Electric Corporation’s parent company. Schumer's call came after merger opponents pledged to keep pressure on the Commission during a rally at the Ulster County Office Building in Kingston, Thurs., May 2. Opponents demanded commissioners consider how Fortis' lower credit rating and absence of long-term pledges to maintain staffing levels would hurt the status of Central Hudson as a reliable customer-centered utility. Schumer agreed the company's performance standard and rate freeze promises were inadequate. He noted that unless Fortis can adequately address all of these concerns, he will oppose the acquisition. Read the full story in the Daily Freeman.