GMP seeks 1 percent rate increase

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Green Mountain Power Corp., has asked state regulators for a rate increase of just under 1 percent beginning Jan. 1.

Vermont’s second-largest power company, now owned by a subsidiary of Canadian energy company Gaz Metro, says it’s glad to be able to keep the 0.93 percent rate increase below the rate of inflation.

The company says its overall costs are projected to remain steady, while customers’ power usage is expected to decrease somewhat, creating higher per-unit costs.

GMP says the average residential customer using 650 kilowatt hours a month is expected to see his or her monthly bill increase by 86 cents, from $93.54 to $94.40.

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