Uil Holdings Corp – ‘8-K/A’ for 11/24/03 – EX-99

On:  Wednesday, 11/26/03, at 2:37pm ET   ·   For:  11/24/03   ·   Accession #:  1082510-3-166   ·   File #:  1-15052

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Amendment to Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K/A       Amendment 1 to 8K Dated 11-24-03                       4     11K 
 2: EX-99       Press Release 11/24/2003                               1      8K 

EX-99   —   Press Release 11/24/2003

                                                          Exhibit 99
UIL HOLDINGS CORPORATION                                                        
157 CHURCH STREET                                                               
P.O. BOX 1564                                                                   
NEW HAVEN, CT  06506-0901                                                       
203.499.2812 FAX:  203.499.3626                                                 

UIL HOLDINGS CORPORATION

NEWS RELEASE                                                                    
NOVEMBER 24, 2003                                                               
                                     ANALYSTS CONTACT: SUSAN ALLEN
                                                        203-499-2409
                                     MEDIA CONTACT:    KEVIN MOORE
                                                        203-499-2204
                                      AFTER HOURS:      203-499-2812

 THE UNITED ILLUMINATING COMPANY AND PROSECUTORIAL DIVISION OF THE

    DPUC REACH AGREEMENT ON PENSION AND RELATED EXPENSES

        The United Illuminating Company (UI), a wholly owned subsidiary of UIL
Holdings Corporation (NYSE: UIL), and the Prosecutorial Division of the         
Department of Public Utility Control (DPUC) have reached a settlement agreement 
regarding the disposition of UI's increased pension and post retirement benefit 
costs. This agreement was filed with the DPUC today and is subject to its       
approval. The agreement provides for the annual recovery by UI of an additional 
$10.5 million of pension and post retirement benefit costs effective with final 
DPUC approval. Recovery by UI will be accomplished by reducing stranded cost    
amortization. This settlement, therefore, will not increase customer electric   
rates.                                                                          
         In addition, the agreement modifies the current over-earnings sharing
mechanism from 50% to shareholders and 50% to customers, to 25% to shareholders 
and 75% to customers, with the entire customer portion being utilized to reduce 
stranded costs. The agreement also stipulates that UI will not file a rate case 
before January 1, 2005, and that UI will withdraw its pending Superior Court    
appeal of the DPUC's June 25, 2003 decision in this matter. A final decision by 
the DPUC is anticipated in the next few months.                                 

UIL HOLDINGS CORPORATION IS THE HOLDING COMPANY FOR THE UNITED
         ILLUMINATING COMPANY AND UNITED RESOURCES, INC. UI IS A NEW HAVEN-BASED
REGIONAL DISTRIBUTION UTILITY THAT PROVIDES ELECTRICITY AND   
ENERGY-RELATED SERVICES TO MORE THAN 320,000 CUSTOMERS IN     
       MUNICIPALITIES IN THE GREATER NEW HAVEN AND GREATER BRIDGEPORT AREAS.
   URI IS THE UMBRELLA FOR UIL HOLDINGS' NON-UTILITY BUSINESS UNITS,
  INCLUDING XCELECOM, INC., AMERICAN PAYMENT SYSTEMS, INC., UNITED
  CAPITAL INVESTMENTS, INC. AND UNITED BRIDGEPORT ENERGY, INC. UIL
        HOLDINGS WORLD WIDE WEB ADDRESS IS HTTP://WWW.UIL.COM/ AND THE COMPANY
IS TRADED ON THE NEW YORK STOCK EXCHANGE UNDER THE SYMBOL UIL.
  ##

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘8-K/A’ Filing		Date		Other Filings
		1/1/05
Filed on:		11/26/03		4
For Period End:		11/24/03		4,  8-K
		6/25/03		8-K
				List all Filings