Vermont Board Approves Green Mountain Power and CVPS Merger - FOX44 - Burlington / Plattsburgh News, Weather & Sports

Vermont Board Approves Green Mountain Power and CVPS Merger

Posted: Updated:
MONTPELIER, Vt. -

Gov. Peter Shumlin is praising the Public Service Board's approval of a merger between Vermont's two largest power companies, but the consumer group AARP continues to criticize the deal.

Shumlin says Friday's approval of the deal between Green Mountain Power and Central Vermont Public Service Corp. means ratepayers will see at least $144 million in savings during the next 10 years.

But AARP says the deal falls short because it does not include rebates to CVPS ratepayers who bailed the company out of financial trouble a decade ago.

With its approval, the board OK'd a hotly debated provision allowing the $21 million repayment to CVPS ratepayers to come in the form of investments in energy efficiency and weatherization.


Copyright 2012 by The Associated Press.  All Rights Reserved.

Powered by WorldNow
All content © Copyright 2000 - 2013 WorldNow and WFFF. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.
WFFF FCC Public FileWVNY FCC Public File