Hartford Business Journal

6 Hartford Business Journal • July 20, 2015 www.HartfordBusiness.com TOP STORY Connecticut most expensive energy state Connecticut is the worst state in the nation for energy expenses, accord- ing to personal finance site WalletHub. WalletHub ranked all 50 states and Washington, D.C. on the consumption rates and prices of electricity, natural gas, motor vehicle fuel and home heating oil. Individually for their monthly energy expenses, Connecticut ranked 43rd for electricity ($142 per month), 30th for natural gas ($39), 14th for motor fuel ($118) and 51st for home heating oil ($110.55). Combined for all those metrics, Connecticut residents spend $410 per month, the worst for all 50 states and Washington, D.C. Wyoming was the second worst ($355), followed by Massachusetts ($352), Alaska ($349), and Rhode Island ($346). Washington, D.C. was the least expensive in the rankings ($223) while Colorado was the least expensive state ($244). GOVERNMENT & POLITICS Top Malloy aide Ojakian leaving Mark Ojakian, a long-time state policy and budget staffer and currently the governor's chief of staff, is leaving state government by year end. Ojakian's future wasn't disclosed in Gov. Dannel P. Malloy's announcement last week of the impending departure of "one of [his] most trusted friends and advisors." A successor will be named later. Before joining Team Malloy, Ojakian was deputy secretary of the Office of Policy and Management. He also was a deputy Comptroller under then-State Comptroller Nancy Wyman for 16 years when she headed that office. HEALTH CARE Lawrence + Memorial Hospital to join Yale New Haven system The Yale New Haven Health System last week announced it has reached an agreement to add southeastern Connecticut's L+M Healthcare to its sprawling network and invest $300 million in its coverage area. The agreement, which is still pending regulatory approval, would make L+M the first hospital to join Yale New Haven since 1998. L+M is the parent organization of Lawrence + Memorial Hospital in New London, Westerly Hospital in Rhode Island, L+M Medical Group and the Visiting Nurse Association of Southeastern Connecticut. They will join Bridgeport, Greenwich and Yale-New Haven hospitals as full members the system. Yale New Haven plans to invest $300 million in eastern Connecticut and western Rhode Island as part of the deal. Hartford Healthcare in partnership talks with Day Kimball Five-hospital health system Hartford Healthcare said last week that it is ex- ploring a partnership with Putnam's Day Kimball Healthcare that could lead to a formal affiliation. Day Kimball CEO Robert Smanik said an affiliation with Hartford Healthcare would provide more comprehensive services to the rural area of Connecticut his hospital serves and help Day Kimball provide more efficient and coordinated care. Hartford Healthcare and Day Kimball have signed a non-binding letter of in- tent that will allow them to outline proposed terms over the next several months. They plan to first enter into management services agreements allowing Hart- ford Healthcare to manage some of Day Kimball's operations, thereby reducing its costs. The two did not disclose which operations the HHC would manage. They also plan to collaborate on quality and value initiatives, doctor recruit- ment and operational improvements, as they discuss a more formal integration. That includes Day Kimball doctors joining HHC's Integrated Care Partners physi- cian organization. Day Kimball Healthcare includes health centers in four I-395 communities, homecare and hospice businesses and a medical group. The parent company reported a $5.9 million loss from operations for the year ended Sept. 2014. ECONOMY & LABOR Non-CT companies paid $1.8M in fines for failing to register Out-of-state companies doing business in Connecticut without registering with state government paid $1.76 million in fines during the fiscal year ended June 30, officials said. A total of 353 firms paid the penalties, according to Attorney General George Jepsen and Secretary of the State Denise Merrill, who coordinated the effort to locate companies operating without registrations. It was the largest annual collection since the efforts began in 2007, they said. Last year, there were $1.6 million in fines. In 2013, companies paid $1.3 million. ENERGY & UTILITIES Report: Cap-and-trade yields CT $56M, 863 jobs The Northeast cap-and-trade system Regional Greenhouse Gas Initiative (RGGI) has generated $56.2 million in value-added economic benefit for Con- necticut, creating 863 direct and indirect jobs, according to a report from Boston consulting firm Analysis Group. The report found the nine RGGI states received a total of $1.3 billion in economic benefit from the systems, generating 14,155 jobs. RGGI requires that power plants and other large greenhouse gas generators pay to go above a certain threshold, and then the nine states split that money to use for energy improvement programs. Connecticut, which has received $71 million in RGGI funding, has used 64 percent of its funding on energy efficiency programs, 26 percent on renewable energy pro- grams and 10 percent on greenhouse gas programs and administration. BY THE NUMBERS $50M The cost of a United Technologies Research Center R&D facility, which broke ground last week and will be done in 2017. 353 The number of out-of-state companies that did business in Connecticut last fiscal year without registering with the Secretary of the State's office, which is a violation of state law. $300M The amount of money Yale New Haven Health System has agreed to invest in Lawrence + Memorial Healthcare as part Yale's proposed affiliation of the Connecticut and Rhode Island hospital system. 3 years The length of Frontier Communications' new sponsorship agreement with the WNBA's Connecticut Sun, which plays at the Mohegan Sun Arena in Uncasville. TOP 5 MOST READ on HartfordBusiness.com ■ WSJ report: Sikorsky-Lockheed deal could be close ■ CT movie theaters acquired in $172M deal ■ Connecticut most expensive energy state ■ Court reverses $35M judgment against Stag subsidiary ■ Top Malloy aide Ojakian leaving WEEK IN REVIEW P.O. Box 2468, New Britain, CT 06050 800.969.3837 nteriors.com Summer, Fall, Winter, Spring Keep your exterior colorful and festive year round with our exterior seasonal program! indoor / outdoor plantscapes • holiday decor From Central Connecticut's trusted business news source. It's the up-to-date information you need to do better business! Get local breaking business news daily! Sign up today at HartfordBusiness.com: Click on the 'subscribe' button HBJToday and Despite having some of the highest gasoline prices in the nation, Connecticut residents have the 14th best U.S. vehicle fuel costs because consumption is so low. P H O T O | C O N T R I B U T E D

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