Tag: Central Hudson Gas & Electric

NY regulators approve Fortis takeover of CH Energy, with advice to “understand our rules and regulations”

(June 13, 2013) The New York state Public Service Commission unanimously approved the $1.5 billion bid by Canadian-based Fortis Inc. to take over Central Hudson Gas & Electric Corp.’s parent company, CH Energy Group despite “fierce public hostility.” Commission Chairman Garry Brown warned Fortis to avoid looking at the local utility as a profit-generating holding. “Get to know New York,” he advised Fortis. “The way you may do things, business, elsewhere is not New York,” in a probable reference to Fortis’s controversial record of dam-building in Belize.