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Yankee Gas Services Company
P.O. Box 270
Hartford, CT 06141-0270
(800) 989-0900

www.yankeegas.com
News Release
  
CL&P, Yankee Gas Release
Connecticut Economic Review
 
MEDIA CONTACT:Mary B. Ingarra, Yankee Gas CommunicationsChris Riley, CL&P Communications
Office:(860) 665-6212(860) 665-5192
 
BERLIN, Connecticut, January 14, 2003 – The Connecticut Light and Power Company (CL&P) and Yankee Gas Services Company have released the latest edition of the Connecticut Economic Review, an annual economic and demographic picture of Connecticut. The report is produced by the Economic and Community Development Department of Northeast Utilities, the parent company of both CL&P and Yankee.

The Connecticut Economic Review for 2002 serves as a scorecard of the state’s economic progress for the past year as well as a benchmark on how the state stands on a variety of competitiveness and quality of life measures.

Among the highlights of this year’s Review are:

Connecticut was ranked the ‘Smartest State’ in 2002 by the Morgan Quitno research group based on its scores on 21 key K-12 education factors, including student performance. Connecticut has the third highest percentage of population with a graduate or professional degree, 13.3%, following Massachusetts (13.7%) and Maryland (13.4%); Between 1990 and 2000, the share of Gross State Product contributed by the insurance sector jumped from 3.4% to 6.6%, underscoring the importance of this industry to Connecticut’s economy;

Connecticut continues to be a center for innovation and knowledge-based jobs, ranking fourth in patents relative to population, second in productive workforce, 11th in manufacturing value added per production worker, and seventh in its high-tech share of total employment;

The state’s unemployment rate in October 2002 was 1.5 percentage points below the U.S. average. Connecticut has the highest per capita income, one of the lowest poverty rates, a high percentage of population with health insurance, and a low crime rate.

Nearly 7% of the workforce was employed by foreign affiliates in 2000, the fifth highest share in the nation. This year's report also contains a five-year scorecard of Connecticut rankings in the Review. The scorecard shows that while Connecticut continues to have strengths in quality of life, education and skilled workers, it has lagged the nation in population and employment growth. State policymakers need to address issues such as the cost of doing business and the regulatory climate that may be inhibiting growth.

Copies of the Connecticut Economic Review are available by contacting Sonya Richmond at Northeast Utilities at (860) 665-5143.
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Yankee Energy System, Inc.,(YES) which is part of the Northeast Utilities System, includes Yankee Gas Services Company, the largest natural gas distribution company in Connecticut serving approximately 191,000 customers in 70 cities and towns throughout the state. Yankee Energy also includes Yankee Energy Financial Services Company, which provides a full range of residential and commercial energy equipment financing options. Further information about YES can be obtained from its Web sites: www.yankeeenergy.com, www.yankeegas.com and www.yankeefinancialservices.com

The Connecticut Light and Power Company (CL&P) has been part of everyday life in Connecticut for more than 100 years, providing safe and reliable electric service to homes, neighborhoods and businesses. With more than 1.1 million customers in 149 cities and towns, CL&P is an active member in the communities it serves, offering programs in energy conservation, economic development and environmental education. CL&P is part of the Northeast Utilities System (NYSE: NU). For more information, please visit www.cl-p.com.





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