Monday, February 18, 2013
 

 

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PSC seeks public comment on purchase of CH Energy Group

ALBANY – The State Public Service is going to hold two sessions to hear what the public has to say about the proposed purchase of CH Energy Group, the parent company of Central Hudson Gas and Electric, by Fortis, Inc. of Canada.

Both sessions will be held on Thursday, February 21 – the first at 3:30 p.m. at Kingston City Hall and the second, at 7 p.m. At Poughkeepsie City Hall. No public input meeting was announced for the greater Newburgh area, the third large area in the utility's territory.

Fortis filed the purchase plan with the PSC on January 28, 2013. Among its conditions are a freeze on Central Hudson electric and gas delivery rates through July 1, 2014; a guarantee of $9.25 million in savings to ratepayers over five years; $35 million used to cover expenses that would normally be included in rates, like storm restoration costs; establishment of a $5 million Community Benefit Fund for economic development and low income customer assistance programs; and a continuation of customer service, reliability and safety mechanisms with increased negative revenue adjustments for failure to meet targets.

The PSC may accept, reject or modify, in whole or in part, the proposed purchase agreement.