CVPS reaches agreement on rate hike

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The state’s largest electric utility and the state office that represents ratepayers have reached a settlement that will allow the company to raise rates by 2.3 percent this winter.

Central Vermont Public Service Corporation had wanted to raise rates by almost 5 percent. It negotiated with the Department of Public Service and the settlement was announced late this afternoon.

The settlement still needs to be approved by the Public Service Board.

Under the deal, residential customers using 500 kilowatt hours per month would see their bills go up $1.65.

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