UIL (UIL) 8-K UIL Holdings Corporation Reports

3Q ‘11 Earnings Conference Call

November 4, 2011

Exhibit 99.1

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3Q ’11 Earnings

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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3Q ’11 Earnings

3Q & YTD 2011 Highlights

YTD ’11 consolidated earnings of $78.4M was $34M higher than YTD ’10,
primarily due to net income from the gas companies

3Q ’11 consolidated earnings of $12.2M were $4.8M lower than 3Q ’10, primarily
due to mark to market and tax rate adjustments

ØThese non-operational charges were partially offset by an increase in income from
GenConn

First full quarter in which both GenConn plants were in operation

Gas integration progressing on schedule - substantially exited Transition Services
Agreement with Iberdrola USA as of the end of September

Tropical Storm Irene caused damage to UI’s electric distribution system, causing
approximately 50% of UI’s customers to lose power

ØUIL team and mutual assistance crews from around the country repaired the system and
power was restored to 99.8% of UI’s customers within one week

ØAs of 9/30/11, the cost estimate was approximately $20M, of which approximately $4M
has been capitalized

›Expects to seek recovery in future rate proceedings

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3Q ’11 Earnings

Gas Conversions

Momentum of interest in conversions increasing as heating season begins

ØDirect mail marketing deployed in October to increase customers’ awareness of conversion
benefits

ØFinancing options are being expanded to assist customers with up-front conversion costs

Approximately 6,800 customer(1) additions in 2010

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

›’11 - approximately 25% increase over ‘10 levels

›’12 - approximately 50% increase over ’10 levels

ØYTD 9/30/11, there were 4,129 conversions, compared to 3,654 conversions for YTD 9/30/10

Through September, residential conversions are 13% ahead of 2010 levels

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

(1) Residential and commercial

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3Q ’11 Earnings

GenConn Energy

50/50 Joint Venture between UI and NRG

Middletown

Devon

Both GenConn Middletown & Devon are
now operating in the ISO-New England
(ISO-NE) markets

ØUIL reported pre-tax income of $3.5M and
$8.2M in the 3Q and first nine months of
’11, respectively

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3Q ’11 Earnings

ØFinal decision by CT PURA approving CNG & SCG
settlement of rate case appeals was issued on 8/3/11
(DN 08-12-06RE02 & DN 08-12-07RE02)

›Resolves all pending issues related to the rate case
appeals

›Removes the 10 basis point ROE penalty for
monitoring

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

›Terminates the SCG potential overearnings
investigation

›Companies are allowed to recover carrying
charges on the interim rate decrease amounts over-
credited to customers during the stay of the rate
case decisions (since 2009)

›Approximately $3.7M to be recovered and
collected over the next two non-winter periods,

$2.2M booked to earnings in 3Q ’11

Regulatory Update

SCG Potential Overearnings

Generic ROE Proceeding

UI Electric Decoupling

SCG/CNG Rate Case Appeals

PURA schedule has not been updated

ØFinal decision issued on 8/31/11 (DN 08-07-04RE03)

›Approved decoupling credit of $1.4M for ‘10 rate year

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

GenConn ’12 Revenue Requirement

ØAnnual revenue requirement filed with CT PURA on
7/29/11 (DN 11-07-12)

›Requesting approximately $78M for the period
commencing 1/1/12 - 12/31/12

›Draft decision expected 12/7/11

›Final decision expected 12/21/11

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3Q ’11 Earnings

Regulatory Update - continued

Transmission ROE

Utility Company Storm Response Docket

ØSeveral New England governmental entities have filed a
complaint with FERC regarding the base return on equity
for transmission investments

›Claim that the current approved base ROE on
transmission investments of 11.14% is not just and
reasonable and are seeking a reduction of the base

              ROE to 9.20%

ØInvestigation of the service response and communications of
utilities in CT following Tropical Storm Irene (DN 11-09-09)

Electric Distribution Rate Case

ØEvaluating timing of distribution rate case to reflect
significant investments in distribution infrastructure

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3Q ’11 Earnings

Governmental Update

Implementation of Public Act 11-80

ØDepartment of Energy & Environmental Protection (DEEP) was created

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

›Change from 5 DPUC commissioners to three PURA directors

§Kevin DelGobbo (former DPUC chair), John Betkoski and Anna Ficeto

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

Post-Storm Irene Investigations

ØParticipated in two legislative hearings

ØGovernor Malloy established a State Team Organized for the Review of Management of
Irene (S.T.O.R.M. Irene) assessment team

Low Income Home Energy Assistance Program (LIHEAP)

ØAnticipate significant reductions in funds available for home energy assistance
programs

Next Legislative Session February-May ‘12

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3Q ’11 Earnings

Economic Update

Economic recovery has been extremely slow over the past 2 years

ØSeptember - moving primarily sideways with a slight downside bias

CT labor markets are now slightly lagging the national average

Seasonally adjusted unemployment rate as of September 2011

ØCT - 8.9%

ØMA - 7.3%

ØNational - 9.1%

Unemployment rates in largest cities in our territory (as of August 2011)

ØBridgeport - 8.3%

ØNew Haven - 9.4%

ØHartford - 9.0%

Source: U.S. Bureau of Labor Statistics

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3Q ’11 Earnings

3Q & YTD 2011 Financial Results by Business
Net Income ($M)

3Q ’11 vs. 3Q ’10

YTD ‘11 vs. YTD
’10

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3Q ’11 Earnings

3Q & YTD 2011 Financial Results - Details

Electric distribution, CTA, GenConn & Other

Ø1% increase in net income YTD, 3Q was lower primarily due to mark to market & effective tax rate
adjustments, offset by GenConn earnings

›The mark to market & effective tax rate adjustments reduced net income by $2.3M & $3.4M for the

     3Q & nine months of ’11, respectively

›GenConn contributed to UIL pre-tax income of $3.5M & $8.2M for the 3Q & first nine months of
’11, respectively

ØAverage D & CTA ROE as of 9/30/11:9.63%

Electric transmission

Ø19% increase in net income for the quarter & YTD

›Increase attributable to an increase in the allowance for funds used during construction due to
increased CWIP

Gas Distribution

ØYTD income of $29.7M , 3Q loss of $6.2M due to seasonality of earnings

ØYTD - colder than normal winter season in New England in ’11

ØRecovered approximately $2.2M pre-tax of carrying charges in the 3Q ’11 on interim rate
decrease amounts over-credited to customers during stay of rate case decisions

›Recovery of carrying charges will continue until the outstanding surcharge balance is exhausted

ØPreliminary average ROE as of 9/30/11:SCG8.30-8.40%, CNG 8.90-9.00%

Corporate

ØYTD after-tax costs of $9.4M, a decrease of $0.1M compared to ’10

ØAfter-tax costs of $2.3M in the 3Q, a decrease of $2M compared to 3Q ’10

ØThe decrease for the quarter & YTD was primarily attributable to the absence in ’11 of after-tax
acquisition related costs that occurred in the 3Q ’10, partially offset by the interest expense related to
the October ‘10 issuance of $450M of public debt

ØInterest expense on the $450M of public debt was $3.2M & $9.5M for the 3Q and first nine
months of ’11, respectively

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3Q ’11 Earnings

Increased ‘11 Earnings Expectations

Current Assumptions

ØElectric distribution, CTA & Other and Gas distribution ranges were narrowed reflecting year-to-date performance

ØGenConn expected to earn $0.12-$0.14 per share

ØUIL Corporate was reduced to reflect tax savings resulting from the deductibility of certain gas company acquisition costs

‘12 earnings expectations will be discussed on the
4Q ‘11 earnings call

Q&A