UIL (UIL) 8-K UIL Holdings Corporation Reports Second Quarter 2011 Financial Results and Affirms 2011 Earnings Guidance

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2Q ‘11 Earnings Conference Call

August 5, 2011

Exhibit 99.1

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James P. Torgerson

President and Chief Executive Officer

Richard J. Nicholas

Executive Vice President and Chief Financial Officer

Safe Harbor Provision

Certain statements contained herein, regarding matters that are not historical facts, are forward-looking statements (as defined in the
Private Securities Litigation Reform Act of 1995). These include statements regarding management’s intentions, plans, beliefs,
expectations or forecasts for the future. Such forward-looking statements are based on UIL Holdings’ expectations and involve risks and
uncertainties; consequently, actual results may differ materially from those expressed or implied in the statements. Such risks and
uncertainties include, but are not limited to, general economic conditions, legislative and regulatory changes, changes in demand for
electricity, gas and other products and services, unanticipated weather conditions, changes in accounting principles, policies or
guidelines, and other economic, competitive, governmental, and technological factors affecting the operations, markets, products and
services of UIL Holdings’ subsidiaries, The United Illuminating Company, The Southern Connecticut Gas Company, Connecticut
Natural Gas Corporation and The Berkshire Gas Company. Such risks and uncertainties with respect to UIL Holdings’ recent acquisition
of The Southern Connecticut Gas Company, Connecticut Natural Gas Corporation and The Berkshire Gas Company include, but are not
limited to, the possibility that the expected benefits will not be realized, or will not be realized within the expected time period. The
foregoing and other factors are discussed and should be reviewed in UIL Holdings’ most recent Annual Report on Form 10-K and other
subsequent periodic filings with the Securities and Exchange Commission. Forward-looking statements included herein speak only as of
the date hereof and UIL Holdings undertakes no obligation to revise or update such statements to reflect events or circumstances after the
date hereof or to reflect the occurrence of unanticipated events or circumstances.

Note to Investors

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2011 Highlights

Increase in net income for the quarter and YTD

Ø2Q ’11 consolidated earnings of $14.2M, or $0.28 per diluted share, an increase
of $2.7M or 23%

ØYTD ’11 consolidated earnings of $66.2M, or $1.30 per diluted share, net income
significantly up from YTD ’10 mainly due to inclusion of earnings from gas
operations

Ø‘11 growth in Transmission operations & Electric operations, including
GenConn

ØGas operations contributed to YTD earnings, loss for the quarter was expected
due to seasonality of business

Gas conversions for new heating customers are ahead of ’10 levels and are
on target to achieve ’11 goal

GenConn Middletown began operating in the ISO-NE markets in June

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Expected $11.6M of Identified Savings

($M)

Integration of all operating companies is well underway

Exit from transition services agreement is on schedule

Integration

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Gas Operations

Ø2011 multi-media campaign - launched in April

›Cost savings associated with natural gas heating use compared to other energy sources

›Momentum of interest in conversions - even in off-peak heating season

ØHistorical customer additions(1) 20092010

Heating conversions 5,5355,728

New construction   9011,071

Total6,4366,799

ØTargeting 30,000-35,000 additional gas heating customers over the next 3 years

›’11 - 25% increase over ‘10 levels

›’12 - 50% increase over ’10 levels

ØConversions are 9% ahead of 2010 levels

›3,190 conversions through June ‘11

›On track to achieve ’11 goal

ØNew customers are anticipated to generate approximately $280-$315 dollars of
distribution net operating income per customer

(1) Businesses & households

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The annual long-term capital spending will be updated in the Fall of 2011

Executing on Capital Expenditure Program

ØOn course with aggressive $2.2B base capital expenditure plan for 2011-2019

›Distribution - $1.2B

›Transmission - $0.5B

›Gas - $0.4B (2011-2015)

›GenConn equity investment - $0.1B

ØInvesting in Connecticut portion of New England East West Solution projects, with
an investment floor of $60M

›To date, UI has made deposits totaling $8.3M

ØContinue to seek out other Transmission opportunities in our service territory and
beyond

›Currently reviewing FERC Order No. 1000:Transmission Planning & Cost Allocation

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ØBegan operating in the ISO-NE
markets in June ‘11

50/50 Joint Venture between UI and NRG

Picture as of June 2011

ØBoth GenConn Devon & Middletown are now operating in the ISO-NE markets

GenConn Energy

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ØOn 3/24/11, CNG, SCG & the OCC filed a motion with
the DPUC to reopen the CNG & SCG rate cases for the
purposes of reviewing and approving a settlement
agreement (DN 08-12-06RE02 & DN 08-12-07RE02)

ØFinal decision issued on 8/3/11, approving settlement
with minor modifications

›Resolves all pending issues related to the rate case
appeals

›Removal of the 10 basis point ROE penalty

›Authorized ROEs: CNG - 9.41%, SCG - 9.36%

›Terminates the SCG potential overearnings
investigation

›Companies are allowed to recover carrying charges
on the excess interim rate decrease over-credited to
customers during rate cases stay

SCG Potential Overearnings

Generic ROE Proceeding

UI Electric Decoupling

SCG/CNG Rate Case Appeals

DPUC schedule has not been updated

ØDraft decision issued on 8/1/11

›Approved decoupling credit for 2010 rate year

›Allows decoupling mechanism to continue unadjusted
until next general rate case proceeding

ØWritten exceptions due 8/15/11, Oral arguments on
8/29/11, Final decision expected 8/31/11

ØFiled on 7/29/11 for 2012 revenue requirement

ØPotential for UI to file distribution rate case for rates in effect in 2012 to reflect significant investments in
distribution infrastructure

GenConn ’12 Revenue Requirement

Regulatory Update

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Legislative Highlights

Session ended June 8th

ØUIL was actively engaged in legislative process

Highlights of Public Act 11-80

ØDepartment of Energy & Environmental Protection (DEEP) was created, effective
July 1

›Merged the Department of Environmental Protection and the Department of Public
Utility Control (DPUC)

4Will result in reorganization and reassignment of existing DPUC staff

›Charged with:

4Creating a new energy future for CT

4Protecting CT’s environmental and natural resources

ØFormer DPUC has become the Public Utilities Regulatory Authority (PURA)

›3 out of the 5 former DPUC commissioners are now PURA directors

ØAllows each electric distribution company to develop and own up to 10 MW of
renewable source generation

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Economic Update

Economic recovery has been extremely slow over the past 2 years

ØNot a typical recovery - moving sideways

CT labor markets continue to weaken despite domestic economic recovery

ØJune labor data for CT “fell short of expectations”

Non-seasonally adjusted unemployment rate as of June 2011

ØCT - 9.1%, unchanged from May

ØMA - 7.8%

ØNational - 9.3%

Some of the major cities in service territory trailing national average

ØBridgeport - 14.3%

ØNew Haven - 13.8%

ØHartford -9.2%

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2Q ’11 vs. 2Q ’10

YTD ‘11 vs. YTD ’10

*

* 2010- fees associated with acquisition, 2011 - interest on Oct. ’10 issuance of $450M of public debt

*

2Q & YTD ’11 Financial Results by Business
Net Income ($M)

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2Q & YTD ‘11 Financial Results - Details

Electric distribution, CTA, GenConn & other

Ø15% increase in net income for the quarter & 12% increase on a YTD basis

›Increase in earnings primarily attributable to income from the investment in GenConn, partially offset
by lower CTA rate base

›Both GenConn Devon & Middletown are now operating in the ISO-NE markets

4Contributed net income of $2.6M and $4.7M for the 2Q and first six months of ’11, respectively

ØAverage D & CTA ROE as of 6/30/11: 10.13%

ØGenConn ROE: 9.75%

Electric transmission

Ø18% increase in net income for the quarter, 19% on a YTD basis

›Increase in income was primarily attributable to an increase in AFUDC

Gas distribution

Ø2Q loss of $1.5M due to seasonality of earnings, YTD income of $35.9M

›Typical second quarter for gas distribution

›YTD - colder than normal winter season in New England in ‘11

ØPreliminary average ROEs as of 6/30/11:SCG 9.00-9.10%, CNG 10.55-10.65%

Corporate

ØAfter tax costs in 2Q ‘11 of $3.3M, a decrease of $1.3M compared to 2Q ‘10

›After tax costs of $7.1M on a YTD basis, an increase of $1.9M compared to ‘10

›The decrease in the quarter was primarily attributable to absence in ’11 of after-tax acquisition related
costs that occurred in 2Q ’10, partially offset by interest on the Oct. ‘10 issuance of $450M of public debt

›YTD increase attributable to $6.3M interest expense on the $450M of public debt

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* $30M to be refinanced - in 3Q ‘11

** To be remarketed

Amounts may not add due to rounding.

Based on current plans - expect no need for external equity at least through 2013

UI Pollution Control Revenue Bonds

UI Equity Bridge Loan repaid in July

UIL Debt retired in Feb

SCG, CNG & Berkshire

Near-Term Debt Maturities

($M)

**

$3

Berkshire note repaid in May

*

Debt Maturity

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Assumptions

›Regulated businesses are expected to earn the allowed return
on an aggregate basis

›GenConn expected to earn $0.12-$0.14 per share

›CTA earnings are expected to decline by $0.07-$0.09 per
share from 2010 as rate base continues to be amortized

›Incorporates full year of gas distribution earnings

›Bonus depreciation is expected to have a net impact of ($0.03)
-($0.05) per share

›Includes one-time costs for the transition of the gas
distribution business support services from IUSA, as well as
the on-going integration costs

,

2011

›Integration of all of the regulated businesses with an emphasis on process integration initiatives and best practices

›Exiting the TSA by year-end for vast majority of services

›Positioned to realize half of IUSA’s ‘09 allocated corporate charges of $23M à expected savings of $11.6M in 2012

›Implementing plans for growth in gas conversions

›Execution of capital expenditure plan at each of our regulated businesses

›Continued focus on management of O&M expenses at each of our regulated businesses

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Q&A

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Appendix

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*2010 Gas distribution capex reflects the full year amount; UIL ownership was for 6 weeks effective with the closing on the acquisition.

** Updated - February 23, 2011

*** Information as of November 2010, except for Gas distribution

Amounts may not add due to rounding.

The annual long-term capital spending will be updated in the Fall of 2011

$M

UIL CapEx Profile

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Electric transmission investments

Electric distribution investments

31%

12%

26%

11%

50%

19%

27%

4%

20%

2011 Electric Distribution & Transmission Capex Detail

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Gas distribution investments

47%

22%

12%

8%

8%

3%

2011 Gas Distribution Capex Detail

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Near-Term Average Rate Base Profile

28%

23%

7%

30%

22%

5%

36%

2%

40%

1%

23%

38%

38%

39%

43%

22%

38%

23%

37%

40%

23%

Electric distribution

CTA

Gas distribution*

Electric transmission

UI’s 50% Share ($M):2010A2011P2012P2013P2014P2015P

Avg. GenConn RB Equivalent:$ 51$ 143$ 174$ 166$ 158$ 150

Avg. Gen Conn Equity “Rate Base”$ 25$72$87$83$79$75

Rate Base (Excluding GenConn Equity Investments):

GenConn Equity Investments:

* 2010 Gas distribution average rate base reflects the full year; UIL ownership was for 6 weeks effective with the closing on the acquisition.For comparability purposes, Gas distribution
excludes the impacts of 338(h)(10) election.

Amounts may not add due to rounding.

42%

$2,309