NY Regs Strike Deal With Fortis In $1.5B CH Energy Buy

Law360, New York (January 29, 2013, 3:16 PM EST) -- Canadian power giant Fortis Inc. said Tuesday it has made a deal with New York regulators that will see $50 million in customer benefits flow back to Central Hudson Gas & Electric Corp. ratepayers and allow for the completion of Fortis' $1.5 billion purchase of the upstate utility.

The settlement — which also contains a one-year rate freeze for Central Hudson's electric and gas customers — came after the companies and other voices huddled before the New York State Public Service Commission, whose approval remained as the...
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