PSC Has Fortis/CH Energy Deal On The Docket
A proposed utility merger in the Hudson Valley is on the New York State Public Service Commission agenda for Thursday.
As of Wednesday, comments were still being posted to the Public Service Commission site regarding the proposed $1.5 billion Fortis acquisition of Poughkeepsie-based CH Energy Group. The eleventh-hour filings on behalf of CH Energy, parent of Central Hudson Gas and Electric Corporation, are in response to comments earlier this week in opposition to the merger filed separately by environmental attorney Robert F. Kennedy, Jr., and Citizens for Local Power. The merger has grown highly controversial over the past few months. In answer to some of the concerns, CH Energy and Fortis recently announced enhancements to the merger proposal, extending an initially proposed one-year rate freeze an additional year, and they worked out a revised agreement with union workers. The PSC meeting gets underway at 10 a.m.