Fortis gets approval to buy parent company of Central Hudson Gas & Electric

Fortis Inc. was approved by the New York State Public Service Commission to acquire CH Energy Group, the parent company of Central Hudson Gas & Electric Corp. in New York.

Fortis, which is based in Newfoundland, announced in February that it had signed an agreement to acquire CH Energy Group for $65 per share, or a total of $1.5 billion, including $500 million of debt, according to Power Engineering.

Central Hudson is a regulated transmission and distribution utility serving electric and natural gas customers in eight New York counties. All employees of Central Hudson will keep their jobs for at least four years, and the utility will continue to operate as a standalone unit.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs