UIL Holdings Corporation
157 Church Street
P.O. Box 1564
New Haven, CT 06506-0901
203.499.2812 Fax: 203.499.3626
EXHIBIT 99.1
NEWS RELEASE
| March 28, 2006 | Analyst Contact: | Susan Allen: | 203-499-2409 |
| Media Contact: | Anita Steeves: | 203-499-2901 | |
| After Hours: | 203-499-2812 |
UIL Holdings Completes Sale of Bridgeport Energy
UIL Holdings Corporation (NYSE: UIL) today announced that it has completed the previously announced sale of its 33 1/3% ownership interest in Bridgeport Energy LLC (BE) to the majority owner of BE, an affiliate of Duke Energy, for $71 million, net proceeds of approximately $65 million. BE is the owner of a 520 MW, gas fired, combined cycle, electric generating facility located in Bridgeport, Connecticut. The sale of UIL’s interest in BE includes a release of all claims by the parties.
UIL Holdings Corporation (NYSE:UIL), headquartered in New Haven, Connecticut, is the holding company for: The United Illuminating Company, a regulated utility providing electricity and energy related services to 320,000 customers in the Greater New Haven and Bridgeport areas; and Xcelecom Inc., a leading provider of specialty contracting and voice-data-video systems integration. For more information on UIL Holdings, visit us at http://www.uil.com.
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