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.
U.S. Senator Charles Schumer was in the Hudson Valley Friday. New York’s senior Senator says without answers to questions he has raised for some time, he cannot support a proposed utility merger in the Hudson Valley. As he was voicing his concerns, a pair of administrative law judges released a recommended decision about the merger.
The proposed merger is between Canadian energy company Fortis and Poughkeepsie-based CH Energy Group, parent of Central Hudson Gas and Electric Corporation. And the Democratic Schumer says he has serious concerns.
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.