State Recommends Lower Electricity Rate Increase For GMP
The state of Vermont wants Green Mountain Power to reduce the size of its requested rate increase.
Green Mountain Power, the state's largest electrical utility, is seeking approval for a nearly 5 percent rate increase. The Times Argus reports the state Department of Public Service recommended this week that GMP should only be allowed to increase rates by about 1.7 percent.
This would reduce the impact on Vermont taxpayers by $22 million.
In its filing, the department also recommends that the utility lower its power purchasing costs by $6.5 million.
The Vermont Public Utilities Commission is expected to issue a ruling by the end of the year on any rate increases that would take place in January.
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