Common Contracts

Fortis and Central Hudson File Settlement Agreement

Immediate Release • January 28th, 2013

• Contract Type
  Immediate Release
• Filed
  January 28th, 2013

Nearly $50 million to fund customer and community benefits, plus a one-year electric and natural gas customer delivery rate freeze, and customer protections, including the continuation of Central Hudson Gas & Electric Corporation (“Central Hudson”) as a stand-alone utility company, are cornerstones of a settlement of all issues among the signatories (the “Settlement Agreement”) filed with the New York State Public Service Commission (the “Commission”) regarding the acquisition of Central Hudson, the utility subsidiary of CH Energy Group, Inc. (“CH Energy Group”) (NYSE:CHG), by Fortis Inc. (“Fortis”) (TSX:FTS). Other signatory parties to the Settlement Agreement are the Staff of the New York State Department of Public Service, Multiple Intervenors and the Utility Intervention Unit of the New York State Department of State. The Settlement Agreement indicates that the acquisition is in the public interest pursuant to New York State Public Service Law, Section 70 and, therefore, the aforem