UIL Holdings Corporation, through its subsidiaries, operates in the regulated utility businesses. The utility businesses consist of the electric distribution and transmission operations of The United Illuminating Company (UI) and the natural gas transportation, distribution, and sales operations of The Southern Connecticut Gas Company (SCG); Connecticut Natural Gas Corporation (CNG); and The Berkshire Gas Company (Berkshire, and collectively SCG and CNG, the Gas Companies). UI is also a party to a joint venture with certain affiliates of NRG Energy, Inc. (NRG affiliates) pursuant to which UI holds 50% of the membership interests in GCE Holding LLC, whose wholly owned subsidiary, GenConn Energy LLC (collectively with GCE Holding LLC, GenConn) operates peaking generation plants in Devon, Connecticut (GenConn Devon) and Middletown, Connecticut (GenConn Middletown). Utility Businesses Electric Distribution and Transmission UI is a regulated operating electric public utility that is engaged principally in the purchase, transmission, distribution, and sale of electricity for residential, commercial, and industrial purposes in a service area of approximately 335 square miles in the southwestern part of the state of Connecticut. The service area, primarily urban and suburban, includes the principal cities of Bridgeport (population of approximately 145,000) and New Haven (population of approximately 130,000) and their surrounding areas. The service territory is home to a range of business sectors, including aerospace manufacturing, healthcare, biotech, financial services, precision manufacturing, retail, and education. As of December 31, 2014, UI had approximately 328,000 customers. Seasonality: UI’s retail electric revenues vary by season, with the highest revenues in the third quarter of the year reflecting seasonal rates, hotter weather and air conditioning use. Regulation: UI is regulated as an electric distribution company by the Connecticut Public Utilities Regulatory Authority (PURA) and is also subject to regulation by the Federal Energy Regulatory Commission (FERC). UI is subject to regulation by various regulatory bodies, including PURA, the Connecticut Siting Council (CSC), and the FERC. UI is subject to regulation by various regulatory bodies, including PURA, the Connecticut Siting Council (CSC), and the FERC. UI is a ‘public utility’ within the meaning of Part II of the Federal Power Act. UI is required to comply with reliability standards issued by the North American Electric Reliability Corporation, a not-for-profit corporation whose mission is to improve the reliability and security of the bulk power system. UI owns 9.5% of the common stock of Connecticut Yankee Atomic Power Company, which owned a nuclear generating plant that has been retired and decommissioned. Connecticut Yankee Atomic Power Company is subject to the jurisdiction of the United States Nuclear Regulatory Commission and the FERC. Gas Distribution The Gas Companies engage in natural gas transportation, distribution, and sales operations in Connecticut and western Massachusetts serving approximately 399,000 customers in service areas totaling approximately 1,976 square miles. The service area in Connecticut includes the greater Hartford-New Britain area, Greenwich and the southern Connecticut coast from Westport to Old Saybrook, including the cities of Bridgeport and New Haven. The service area in Massachusetts includes Berkshire County and portions of Franklin and Hampshire counties, and includes the cities of Pittsfield, North Adams and Greenfield. Seasonality: The company’s retail revenues vary by season, with the highest revenues typically in the first quarter of the year reflecting cooler weather. Regulations: The Gas Companies are subject to regulation by various regulatory bodies, including PURA, which regulates SCG and CNG, and the Massachusetts Department of Public Utilities (DPU), which regulates Berkshire. The Gas Companies are subject to federal safety regulations promulgated by the United States Department of Transportation, including safety measures related to natural gas distribution facilities. All of these regulations are administered and enforced by PURA in Connecticut and the DPU in Massachusetts. Environmental Regulation The National Environmental Policy Act (NEPA) requires that detailed statements of the environmental effect of the company’s facilities be prepared in connection with the issuance of various federal permits and licenses. In Connecticut, the CSC serves as the designated authority to ensure that the company’s facilities are in compliance with NEPA, except as otherwise specified in certain permits, such as those required by the U.S. Army Corps of Engineers. The Gas Companies are also subject to permitting and reporting requirements under the federal Clean Air Act and related federal and state regulations. The Gas Companies are also subject to permitting and reporting requirements associated with the Federal Clean Water Act and the Connecticut and Massachusetts state programs enacted under the authority of the Clean Water Act. History UIL Holdings Corporation was founded in 1899.
uil holdings corp
(UIL:New York Consolidated)
157 Church Street
New Haven, CT 06506
|Avista Corp||$32.07 USD||-0.12|
|Cleco Corp||$54.45 USD||-0.10|
|IDACORP Inc||$59.59 USD||-0.21|
|PNM Resources Inc||$26.81 USD||-0.21|
|Portland General Electric Co||$35.23 USD||-0.10|
|View Industry Companies|
Sponsored Financial Commentaries
To contact UIL HOLDINGS CORP, please visit www.uil.com. Company data is provided by Capital IQ. Please use this form to report any data issues.