After originally proposing $144 million in guaranteed savings for Central Vermont Public Service (CVPS) customers, Green Mountain Power (GMP) has made a new proposal, adding another $21 million investment that would provide approximately $40 million in energy efficiency benefits to CVPS customers.
"We believed our initial merger proposal ... met the standard for PSB (Public Service Board) approval," GMP President and CEO Mary Powell said. "Having considered regulators' and stakeholders' views since we filed our proposal ... we proposed the creation of a new Community Energy and Efficiency Development Fund (CEED Fund) to help CVPS customers lower their energy bills and reduce their environmental footprints."
CVPS shareholders have approved selling their company to Gaz Métro Limited Partnership, which owns GMP. CVPS had been looking at a less lucrative offer last year when Gaz Métro made an unsolicited bid.