CVPS Signs Deals For 20 Percent Of Its Power Needs

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(Host) Central Vermont Public Service has signed two new power supply contracts.

The company says the deals will fill a gap that will develop when a contract with Vermont Yankee ends.

CVPS says the new nine-month contracts will begin next April. They call for a total of $27 million worth of power.

Spokesman Steve Costello says CVPS selected its power suppliers through a structured Internet auction. He says the company is not disclosing who it’s buying the electricity from.

(Costello) "We’re trying to protect that information because we’re going to continue to use these types of auctions and typically the same players are going to be involved most likely. And for them to not know who won the previous auction is a benefit to our customers."

(Host) Costello says the company needed to plan its energy future without the Vermont Yankee nuclear plant. Yankee does not have state permission to operate beyond March 2012, although it has challenged the state oversight in federal court.

(Costello) "We can’t wait to find out with Vermont Yankee. We obviously don’t have a contract beyond the spring of next year with them. And so we have to make sure we can provide our customers with a safe and reliable power mix.

(Host) The contracts will provide a total of about 20 percent of CVPS’s power supply.

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