January rate change leaves CVPS among region’s lowest

For Immediate Release: Jan. 4, 2010

The Vermont Public Service Board has authorized a 5.58 percent rate increase under the company’s alternative regulation plan, which leaves CVPS’s rates among the lowest of the major utilities in New England.  The change took effect with bills rendered starting in January.  The PSB issued their decision late New Year’s Eve day.

The bill for a residential customer who uses 500 kilowatt-hours of electricity per month will rise from $73.49 to $77.57, a difference of $4.08 Despite the increase, CVPS rates represent a good comparative value, as the same customer would pay as much as $105.33 elsewhere in New England, according to the Edison Electric Institute.

Since 1999, CVPS rates have risen at a fraction of the rate of inflation in the energy sector, with a handful of small increases and decreases.  Overall, rates in 2010 are expected to be just 12.6 percent higher than in 1999. Based on the latest federal data available, the Consumer Price Index for energy has increased 122 percent.