Power - Rates and Tariffs
CVPS seeks 5.91% rate hike
November 03, 2009 4:59 PM ET
By Muhammad Nadeem
|  Related Companies | Related Documents | Related Articles |
Central Vermont Public Service Corp. on Nov. 2 said it submitted a request to the Vermont Public Service Board to authorize a 5.91% rate increase under the company's alternative regulation plan. If approved, the new rates will be effective Jan. 1, 2010. Under the new rates, a bill for a residential customer using 500 kWh of electricity per month would rise to $77.89 from $73.49, and the company's allowed return on equity would drop to 9.59% from 9.77%. The new rates would serve as the base rates for 2010 under the company's alternative regulation framework approved by the PSB in 2008, the company said. "We continue to drive costs out of the business, which mitigated the proposal considerably," CVPS President Bob Young said. "The biggest drivers are increases in power costs, transmission costs, and reliability improvements to our systems, which are critical to our customers." |
Add to Library
