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UIL Applauds Connecticut’s New Energy Strategy

NEW HAVEN, Conn.--(BUSINESS WIRE)-- Connecticut’s adoption of a new comprehensive energy strategy will help the state to create jobs and generate economic opportunities, according to James P. Torgerson, chief executive officer of UIL Holdings Corporation (NYSE: UIL).

Torgerson praised the draft strategy in a statement, saying the state has languished without a comprehensive policy to address pressing energy issues.

In particular, he said the strategy’s focus on promoting energy efficiency and expanding the use of natural gas will help make Connecticut more competitive as it seeks to attract and retain business and industry.

“I have always supported energy policies that encourage growth and improve efficiency and diversification of resources,” Torgerson said. “With the development of this new energy strategy, I am pleased with the prospects for the future. If we act accordingly, Connecticut has an opportunity to continue the path back to economic vitality. We can re-establish the state’s position in the Northeast.”

Gov. Dannel P. Malloy unveiled the new energy initiatives Oct. 5 at a Connecticut Business & Industry Association conference in Cromwell. Torgerson was in attendance and credited the governor’s leadership for creating a path and vision for Connecticut’s energy future, and urged lawmakers and other businesses to support a forward-looking energy agenda.

Torgerson added, “We look forward to working with the Connecticut legislature as a bill is shaped that could certainly have very positive results for energy consumers."

About UIL Holdings Corporation:

Headquartered in New Haven, Connecticut, UIL Holdings Corporation (NYSE:UIL) is a diversified energy delivery company serving more than 700,000 electric and natural gas utility customers in 66 communities across two states, with combined total assets of over $4 billion.

UIL is the parent company of The United Illuminating Company (UI), The Southern Connecticut Gas Company (SCG), Connecticut Natural Gas Corporation (CNG), and The Berkshire Gas Company (Berkshire), each more than 100 years old. UI provides for the transmission and delivery of electricity and other energy related services for Connecticut's Greater New Haven and Bridgeport areas. SCG and CNG are natural gas distribution companies that serve customers in Connecticut, while Berkshire Gas serves natural gas customers in western Massachusetts. UIL employs more than 1,850 people in the New England region.

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Source: UIL Holdings Corporation