Fortis Rips Late Bid For Hearings In $1.5B NY Utility Deal

Law360, New York (May 10, 2013, 6:10 PM EDT) -- An eleventh-hour demand for evidentiary hearings into whether Fortis Inc.'s planned $1.5 billion purchase of Central Hudson Gas & Electric Corp. would be good for New York state ratepayers and the environment has "absolutely no justification" and comes far too late, the companies said Thursday.

The companies are tangling with a groundswell of opposition to their merger that began after staff at the state's Public Service Commission ruled that, with some give-back to surrounding communities, the merger could be completed and would benefit ratepayers. But in...
To view the full article, register now.