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Power Plant Divestiture
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Business New Haven
6/1/1998
By: Russell Stone
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NEW HAVEN - The United Illuminating Co. (NYSE: UI) announced that in accord with Connecticut's new law on electric restructuring, it will divest three fossil-fuel power plants: the Bridgeport Harbor Station, the New Haven Harbor Station, and the deactivated English Station. Under terms of the law, the power-supply side of the electric business must be split from the transmission and distribution side. Though the law would allow UI to bid on its own plants, the company does not plan on doing so and will instead concentrate on power delivery and distribution.
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