Power companies seek rate change flexibility

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Vermont’s two largest power companies say they need to be able to change their rates when their own costs for electricity rise – or fall.

Green Mountain Power already got permission to do that.

And Central Vermont Public Service hopes to start next year operating under what’s known as alternative regulation.

Green Mountain Power is permitted to change its rates every three months to reflect changes in New England’s wholesale power market.

CVPS wants to be able to do that, too.

GMP’s Dorothy Schnure says the change has worked slightly to customers’ benefit so far, shaving about a dollar off the average residential bill.

But if wholesale power costs go up, that would be reflected as well.

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