2015 Press Release
November 24, 2015
PURA Issues Proposed Final Decision Approving Iberdrola Acquisition of UIL Companies
The Public Utilities Regulatory Authority today issued a proposed final decision approving a change of control whereby the United Illuminating Company, the Southern Connecticut Gas Company and the Connecticut Natural Gas Company, would become subsidiaries of Spain-based Iberdrola, S.A.
PURA's ruling finds that the revised application submitted in July by UI and Iberdrola, in addition to Settlement Agreement terms and safeguards presented to PURA in September by UIL, Iberdrola and the Office of Consumer Counsel, now meets Connecticut's financial, managerial, technical and public interest requirements.
Parties to the PURA proceeding have until December 1st to submit written exceptions on the proposed final decision. The PURA commissioners are scheduled to hear oral arguments on the case on December 3rd, and plan to render a final ruling on December 9, 2015.