Some Members Challenge Rate Increases in Wake of Utility Merger
Posted on Nov 16, 2012 in Corporate Governance, Mergers/Acquisitions, Rates | Comments Off on Some Members Challenge Rate Increases in Wake of Utility Merger
Following the merger of Central Vermont Public Service with and into Green Mountain Power, two members of the surviving Green Mountain Power are protesting certain transmission-related rate increases before the Federal Energy Regulatory Commission. Although the rate increases are to be phased-in over time, the new transmission rates represent an increase of more than 75 percent. According to Green Mountain Power spokeswoman, Dottie Schnure, the new rates address the fact that the two member coops challenging the increase have been paying under-market rates subsidized by Green Mountain Power’s other members. Burlingtonfreepress.com has the full story.
