The Vermont Public Service Board has approved a new system of setting rates for the state’s largest power company that will allow it to recover what it pays for power at wholesale prices more quickly. The system also could help promote energy conservation.
Under an alternative regulation plan approved for Central Vermont Public Service Corp., the company will be able more easily to pass through to ratepayers changes in the costs of power it buys on the New England wholesale electricity market.
The plan also calls for CVPS to implement measures introduced by the Conservation Law Foundation environmental group designed to promote energy efficiency. They include new, high-tech electric meters designed to help the company better manage power demand.