NEWBURGH – Central Hudson Gas and Electric Corporation will invest $660 million in the region’s electric and natural gas systems during the next five years. Some $15 million of that will be to rebuild an electric transmission line from Walden to Rock Tavern in Orange County.

Steven Lant, president, CEO and board chairman for Central Hudson’s parent company, CH Energy Group briefed community leaders about the future plans for the company, its growth and anticipated purchase by Canadian utility Fortis.

Lant’s presentation on Monday was in Newburgh, the site of the second central electric generating station developed by Thomas Edison.

He told those in attendance that if the merger is approved by the state Public Service Commission, it will provide $20 million in savings to customers, include a one-year rate freeze, and provide access to both the capital necessary to invest in electric and gas system.