8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 or 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):  March 11, 2009

(Exact name of registrant as specified in its charter)

Connecticut	1-15052	06-1541045
(State or other jurisdiction	(Commission	(IRS Employer
of Incorporation)	File Number)	Identification No.)
157 Church Street, New Haven, Connecticut		06506
(Address of principal executive offices)		(Zip Code)
Registrant's Telephone Number,
Including Area Code		(203) 499-2000

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

£           Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

£           Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

£           Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17CFR 240.14d-2(b))

£           Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act(17 CFR 240.13e-4(c))

Item 8.01 Other Events.

On March 11, 2009, UIL Holdings Corporation (the Registrant) issued a press release announcing that it has elected to significantly reduce its currently planned capital spending for 2009 and also affirmed its’ 2009 earnings guidance.  The press release also announced that, in order to maintain maximum flexibility, the Registrant filed a universal shelf registration statement on Form S-3, although given current capital market conditions it has no present intention to issue securities under the registration statement.  The Registrant had previously announced its intention to issue equity in 2009.  A copy of the Registrant's press release is attached hereto as Exhibit 99.

Item 9.01 Financial Statements and Exhibits

(d)	Exhibits – The following exhibit is filed as part of this report:
99	Press release, dated March 11, 2009.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

UIL HOLDINGS CORPORATION

Registrant

Date:  3/11/09	By                /s/ Steven P. Favuzza
	Steven P. Favuzza
	Vice President and Controller

Exhibit Index

Exhibit	Description
99	Press Release dated March 11, 2009.

EX-99

EXHIBIT 99

UIL Holdings Corporation

157 Church Street

P.O. Box 1564

New Haven, CT  06506-0901

203.499.2812 Fax:  203.499.3626

NEWS RELEASE

March 11, 2009                                                                Analyst Contact: Susan Allen (203) 499-2409

UIL Holdings Reduces Capital Expenditures, Affirms 2009 Earnings Guidance, Has No Present Intention to Issue Equity

(NYSE:UIL) UIL Holdings Corporation announced today that it has elected to significantly reduce its currently planned capital spending for 2009 in response to current conditions in the capital markets.  UIL is reducing its 2009 capital expenditure projections to $75-$90 million, from the previously disclosed $140-$155 million.  The details are as follows;

UIL also affirmed its 2009 earnings guidance previously reported on February 19, 2009, as shown below.

 - more -

Additionally, to maintain maximum flexibility,UIL filed a universal shelf registration statement on Form S-3 with the Securities and Exchange Commission today.  Given current capital market conditions, UIL has no present intention to issue securities under the shelf registration statement.  In mid-February 2009, UIL had announced its intent to issue $75-$100 million of equity in 2009.

“At this time, we have chosen not to issue new shares of stock through an equity offering due to the conditions in the markets,” commented James P. Torgerson, UIL’s chief executive officer.  “Reducing our capital spending will allow us to issue equity at a time we determine to be appropriate.  With the universal shelf in place, we have that flexibility.”

UIL Holdings Corporation (NYSE:UIL), headquartered in New Haven, Connecticut, is the holding company for The United Illuminating Company, a regulated utility providing electricity and energy related services to 324,000 customers in the Greater New Haven and Bridgeport areas.  For more information on UIL Holdings, visit us at http://www.uil.com.

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 the Corporation’s 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, conditions in the debt and equity markets, legislative and regulatory changes, changes in demand for electricity 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, timing, markets, products, services, and prices of the Corporation’s subsidiaries.  The foregoing and other factors are discussed and should be reviewed in the Corporation’s 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 the Corporation 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.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction to any person to whom it is unlawful to make an offer, solicitation or sale in such jurisdiction. The offering of these securities will be made only by means of the prospectus supplement and accompanying prospectus.

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