CVPS customers will see a slight decrease in their electricity bills starting with bills rendered July 1. Last year, the Vermont Public Service Board approved a 1.15 percent surcharge on bills to pay for the extraordinary costs of the 2008 ice storm, the most expensive in company history. CVPS has been collecting that surcharge as part of its alternative regulation program, but the recovery period ends June 30. As a result, the surcharge will end with bills rendered starting July 1.
Customers have also been receiving a power cost adjustment credit of $0.00206 per kilowatt-hour. The credit for the upcoming quarter will be smaller, $0.00089 per kWh. Combined with the end of the surcharge, the effect is a rate decrease of 0.24 percent starting July 1.
For a typical residential customer using 500 kilowatt-hours per month, the net change will reduce the bill by 32 cents, from $77.07 to $76.75.
“Though we face rate pressures in the years ahead, according to the Edison Electric Institute, CVPS’s rates are among the lowest of any major utility in New England,” spokesman Steve Costello said. “Elsewhere in New England, the same 500 kWh customer would pay as much as $119.69.”
Source: CVPS. 6.10.2010
CVPS electric rates to drop slightly
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