UIL holdings affirms 2001 earnings estimate, revises 2000 estimate

“The outlook for 2001 earnings remain strong and the budget approved yesterday results in earnings per share at the high end of our earnings estimate range, despite the continuing outage at the Seabrook nuclear power plant,” said UIL Holdings Chairman, President and Chief Executive Officer Nathaniel D. Woodson. “This can be attributed to the growth in our non-regulated businesses and good cost management efforts at all of the business units” he said.

Dec. 20, 2000–Standard & Poor௿½s threatened to lower the credit ratings of Pacific Gas and Electric Co. and Southern California Edison Co. to junk bond status if California state or federal officials do not take ௿½drastic௿½ action that will improve the liquidity of those companies immediately.

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