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State Board Fines Vermont Gas For Silence On Cost Increase

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Vermont Gas

The state Public Service Board has fined Vermont Gas Systems $100,000 for its slowness in reporting the first of two big cost increases on its pipeline project to extend its system from northwestern Vermont south to Addison County.

The company announced last July that its budget for the project had grown from $86.6 million to $121.6 million. The board later found the company had waited nearly six months before disclosing the need for that increase. Since then, the project cost has grown to $153.6 million.

The board's order issued Friday focused on the first budget increase. It found Vermont Gas failed in its obligation of transparency, undermining the effectiveness of the regulatory process.

Company President Don Rendall said in a statement the company will comply with the board's order.

Copyright 2015 The Associated Press. All rights reserved.

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