$2.1B UIL investment hinges on raising capital

Jun 5th, 2011 | By | Category: Business

The corporate parent of United Illuminating wants to perform a $2.1-billion upgrade of the New Haven electric utility’s aging infrastructure, but raising capital will be a difficult venture.

When the Department of Public Utility Control last year gave United Illuminating an 8.75 percent return on equity in its electric rates, the stock of parent company UIL Holdings Corp. fell and its costs of borrowing rose.

Read more here: $2.1B UIL investment hinges on raising capital | Hartford Business.

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