CVPS seeks rate increase

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Central Vermont Public Service Corporation is seeking a 4% rate increase next year. The company cites as the reason increased transmission and power costs and investments in reliability improvements.

If approved, the increase would drive up bills from $71.46 to $74.65 a month for customers who use 500 kilowatt-hours of electricity.

CVPS says it has increased its capital budget from $18 million last year to $26 million this year largely to invest in reliability improvements.

The Public Service Board must first approve the rate increase before it goes into effect.

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