The New York State Public Service Commission Thursday approved a utility merger in the Hudson Valley. The $1.5 billion acquisition of the Poughkeepsie-based utility had its share of controversy in recent months.
And so went the Public Service Commission’s vote in favor of the acquisition by Canadian energy company Fortis Inc. of CH Energy Group, parent company of Central Hudson Gas and Electric Corporation. Supporters, including Barry Perry, vice president, finance and chief financial officer of Fortis, are gratified.
The companies involved in a proposed utility merger in the Hudson Valley have offered enhancements to the merger proposal. Opponents say they are too little, too late. The controversial merger proposal has led both sides to pound the pavement to tell their sides of the story.
POUGHKEEPSIE – Central Hudson and IBEW Local 320 have negotiated a new contract for utility workers, who would become employees of Fortis, Inc. should the buyout of CH Energy Group be approved by the State Public Service Commission.
State Assemblyman Kevin Cahill (D- Kingston) said it is a good deal for the workers, but the proposed purchase leaves a lot to be desired.
Congressman Sean Patrick Maloney (D- 18) is thrilled with the contract agreement.
There has been a brighter public spotlight lately on the proposed merger between Canadian energy company Fortis and Poughkeepsie-based CH Energy Group, parent of Central Hudson Gas and Electric Corporation. In response, top executives from both companies have been making the rounds, trying to allay concerns and separate fiction from fact. Here is part two of their interview with WAMC’s Hudson Valley Bureau Chief Allison Dunne.
The proposed merger between Canadian energy company Fortis and Poughkeepsie-based CH Energy Group, parent of Central Hudson Gas and Electric Corporation has sparked a lot of concern and opposition in the past few months. And now the top executives of each company have embarked on a public relations campaign to try and quell concerns.
Several elected officials have raised concerns over the past few months about a proposed utility merger in the Hudson Valley. Among them is U.S. Senator Charles Schumer. And now top executives of the two companies have responded.