GMP asks for 1.58 percent rate increase

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Green Mountain Power is asking Vermont utility regulators for permission to increase electric rates by 1.58 percent.

GMP says the increase is largely due to increases in regional transmission costs.

President Mary Powell says the company has worked hard to manage costs.

GMP is Vermont’s second largest electric utility. The utility says its average rates are the lowest of the large utilities in New England and Vermont’s five largest utilities.

If the Public Service Board approves the request, the monthly bill for GMP’s average residential customer would increase by $1.49.

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