State utility regulators have ordered refunds and lower rates for customers of Central Vermont Public Service Corporation.
The Public Service Board found that CVPS had charged excessive rates over the past year. So the Board ordered the utility to pay back $3.3 million in refunds. The board also required the company to reduce current rates by almost 1.9 percent beginning in April.
Steve Costello is a CVPS spokesman.
(Costello) “We need to digest the order. Certainly we’re disappointed, but we’re going to develop an appropriate plan to move forward in light of this order. Regardless of what the board said here, we have and will continue to work hard with the regulators to control our costs and try to ensure service at the level that our customers expect. Ultimately we’re committed to improving service continually and managing costs.”
CVPS applied for a 5 percent rate hike last year. The Department of Public Service, the state agency that represents ratepayers, asked for a 7 percent rate decrease.
CVPS has raised rates once in the past five years.