Vermont Regulators Turn Down Appeal Over Utility Merger

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The Vermont Public Service Board has once again rejected arguments that ratepayers should get a windfall payment when the state’s two largest utilities merged.

The board upheld a key provision of its June order that allowed Green Mountain Power to merge with Central Vermont Public Service Corporation.

Instead of requiring the utility to refund $21 million to ratepayers, the board allowed the utility to spend the money on weatherization programs.

After the June order was released, AARP Vermont asked the board to reconsider the ruling. It argued that ratepayers should get a direct payment, because the utility’s customers had bailed out CVPS with higher rates when it was in financial trouble a decade ago.

The PSB rejected that argument in June. And it did so again in a new order this week. The board said that if it ordered the utility to refund the $21 million, the entire deal could unravel. The board said that was not a risk it wanted to take, because the merger overall will save customers money.

 

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