CVPS may raise rates before 2006

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The state’s largest utility says it may soon need to raise rates. The Central Vermont Public Service Corporation had set a goal of holding rates flat until 2006. But a spokesman said it will likely file for a rate increase much sooner.

The announcement comes after state utility regulators opened an investigation this week into the company’s rates. The investigation follows a Public Service Board ruling in February that said CVPS customers may deserve a rate decrease, instead of a rate freeze. The Rutland-based CVPS serves 130,000 customers.

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