Much of the opposition to a proposed utility merger in the Hudson Valley has focused on community concerns, such as jobs, rate hikes, and investing locally. Now, at least one community member has taken his concerns to the Securities and Exchange Commission.
Canadian energy company Fortis would acquire Poughkeepsie-based CH Energy Group, parent of Central Hudson Gas and Electric Corporation, for about $1.5 billion. New Paltz resident Karl Budmen says shareholders will lose.
An extended public comment period closes this week for a proposed utility merger. This comes as administrative law judges say they will issue a recommended decision to the Public Service Commission concerning the proposed merger.
A Hudson Valley assemblyman has penned a letter to the New York State attorney general with concerns over a proposed merger involving a local utility company. A spokesman for the utility company insists the merger is in the public interest.
The New York State Public Service Commission is reviewing the proposed merger of Poughkeepsie-based CH Energy Group -the parent company of Central Hudson Gas and Electric Corporation - and Canadian utility company Fortis, Inc. A public comment period will close at the end of the month, and at least one group of residents from Ulster County has written with its concerns.