To Solve Crisis, Wright Proposes Selling Municipal Utility

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The only Republican candidate for Burlington mayor is proposing that the city sell its municipal electric utility to solve the city’s current fiscal crisis.

Kurt Wright said Wednesday that selling the Burlington Electric Department could bring in more than $100 million – a deal he says that could go a long way toward restoring the city’s recently downgraded credit rating.

"There will be no fire sale," Wright said. "Burlington Electric Department is a really valuable company, and I do expect that there would be interest in buying it. We’ll negotiate seriously for a good price that works for Burlington. If that is not the case, I wouldn’t go forward to the voters."

If elected, Wright says through careful negotiations with potential buyers he would ensure that Burlington ratepayers would not see rates go up.

Burlington is facing a nearly $50 million pension shortfall and a $17 million gap in the city’s general fund, following financial problems with Burlington Telecom.

Burlington Mayor Bob Kiss, who hasn’t yet announced whether he’ll seek re-election, called Wright’s proposal to sell Burlington Electric ‘irresponsible’ because he says the utility saves residents on their bills.

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