Vermont Business Magazine Vermont Gas today submitted its regular quarterly report regarding the Addison natural gas expansion project with the Vermont Public Service Board (PSB). The filing shows that the Addison pipeline is on track and has remained on schedule and on budget since December 2014. Vermont Gas submits quarterly reports to the PSB regarding budget projections and expenses related to the project. The latest filing reflects the project’s budget standing as of September 30, 2015. Vermont Gas is still waiting for a decision by regulators on whether they will reopen the certificate of public good process.
“This project, which will offer the choice and opportunity of a cleaner, more affordable energy option, continues to remain on time and on budget,” said Don Rendall, President & CEO of Vermont Gas. “We are wrapping up a very successful construction season. Our business partner, Michels, finished laying almost 100% of the mainline pipe of the first segment – from Colchester to Williston - ahead of schedule and will return next spring to finish the project all the way to Middlebury.”
“When the project is finished, many Addison County residents including those on fixed incomes, such as seniors, will have the choice of more affordable natural gas for an energy source. They will also have access to our award-winning energy efficiency programs, which save money and reduce carbon emissions,” Rendall said. The project will provide the option of natural gas service to about 4,000 Addison County households, businesses, and institutions.
Vermont Gas recently announced it has reached an agreement with the Department of Public Service to cap the amount of pipeline construction costs that will be charged to ratepayers. The company has agreed not to seek to recover costs above $134 million from customers, except for certain costs beyond its control if they occur. As reported to the Board today, the Company’s overall cost estimate for the project remains at $153.6 million.
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In addition, Vermont Gas has reached agreements with almost all landowners along the pipeline corridor and is working to develop modifications to the pipeline route in cases where they are practical and can address concerns raised by landowners. “As promised, we will reduce the number of eminent domain cases to a bare minimum,” said Rendall.
“The company has made great progress on the project this year. We have addressed challenges head-on as we said we would and the result has been very positive. We are focused on wrapping up construction this year and setting our sights on project completion late next year,” Rendall concluded.
Source: Vermont Gas. 10.13.2015. For more information about the ARNGP visit: www.vermontgas.com