Fortis Eyes Settlement With NY To Close $1.5B CH Energy Buy

Law360, New York (December 13, 2012, 5:04 PM EST) -- Canadian power giant Fortis Inc. said Wednesday it believes it can settle disputes with New York regulators, including a $75 million disagreement over how much money should flow back to ratepayers as a condition of its proposed $1.5 billion purchase of Central Hudson Gas & Electric Corp.

Fortis, the utility's parent CH Energy Group Inc. and New York State Public Service Commission staff proposed to administrative judges that they would begin settlement negotiations on Monday. The sides "have held exploratory discussions and, as a consequence, believe...
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