Today issues such as global climate change and the price of energy are impacting the lives of all of us at local, national and worldwide levels. Whether we believe that global warming is occurring is not the issue. Legislative changes have been made or are being contemplated at the state and national levels. How UIL leads in responding to these challenges will define the Company for the decades to come.

UIL, through its United Illuminating (UI) subsidiary, is a national leader in promoting energy efficiency and has been for 20 years. All of us are being asked to become more energy efficient and it is up to us to show our customers how to use energy wisely, whether they are in our service territory or anywhere in New England.

Connecticut legislation has been enacted requiring that 27% of the electric energy used be generated by renewable resources by the year 2020. The recent Integrated Resource Plan draft submitted jointly by UI and Connecticut Light & Power (CL&P) indicates a present inability to meet this renewable standard cost-effectively within the time frame required. With these new requirements come