Statement from James P. Torgerson President and CEO, UIL Holdings Corporation

Clearly we were disappointed with the Connecticut Public Utilities Regulatory Authority's (PURA) draft decision regarding the Iberdrola-UIL Change of Control proceeding (docket no. 15-03-45). As such, we are carefully reviewing the draft decision. While the current draft language would, if adopted as final, deny the change of control of UIL, the draft decision also provides an opportunity to UIL and Iberdrola to address the concerns that PURA expresses in the draft decision. We look forward to providing clarification and additional information to PURA quickly. We truly believe the proposed transaction can bring significant value to our customers, including tangible benefits, as we continue to deliver safe and reliable service.