The decision to allow the state's two biggest power producers to become one was greeted warmly by utility executives.
"The order clearly highlighted the value to Vermonters they see in this transaction," said Mary Powell, the president of Green Mountain Power.
The green light by the Public Service Board allows Green Mountain Power to take over Central Vermont Public Service. The three-member panel agreed with utility executives and the Shumlin administration it was a good deal for Vermont and ratepayers.
"There are many, many areas where we are going to have our feet held to the fire. We are going to have our feet held to the fire to deliver every penny of value that we have talked about," Powell said.
Powell says only executives will lose their jobs in the deal and any layoffs elsewhere will come through attrition.
Not everyone was cheering the ruling, especially AARP. That group's leader was steamed the board OK'd a hotly-debated provision allowing the $21 million repayment to CVPS ratepayers to come in the form of investments in energy efficiency and weatherization. AARP wanted the cash returned to ratepayers.
"If you are a Gaz Metro shareholder or CVPS shareholder, you are about to have loads of money dropped into your pocketbook or wallet. But if you are regular old Vermonter that lives in CVPS territory, this is just a lousy day for Vermonters," said Greg Marchildon.
The governor disagreed with AARP's public campaign. Peter Shumlin praised the ruling. He was not available for an on camera interview because his staff says he is on a break out of state, but the governor issued this statement: "I continue to believe, and this ruling reflects, that the terms as approved by the Board will produce extraordinary benefits for consumers and the state..."
This is a major ruling impacting thousands of Vermonters. It could be appealed, but it's unlikely such a major ruling could be overturned. Even if someone appeals the ruling, GMP says it will move ahead with closing, which could come in a couple of weeks.
Sunday, May 19 2013 12:06 AM EDT2013-05-19 04:06:03 GMT
Vermont State Police have charged 22-year-old Adam Page of Newport for stealing the Newport City Elementary School bus, which has now been declared totaled. A stolen dog was also recovered in the busMore >>
State Police say he is also being charged with the theft of two other vehicles and a woman's dog.More >>
Saturday, May 18 2013 11:45 PM EDT2013-05-19 03:45:20 GMT
State police are looking for the person responsible for stealing a school bus and taking it for a joyride in northern Vermont. Troopers say the 2014-model bus belonging Newport City Elementary SchoolMore >>
Police say the school bus belonging to the Newport City Elementary School was taken for a joy ride Friday night.More >>
Saturday, May 18 2013 10:10 PM EDT2013-05-19 02:10:53 GMT
A fatal accident in Lyndon Saturday. It happened around 2:30 Saturday afternoon on Route 122. Police say 76-year-old Gerda Blaszczyk of St. Johnsbury swerved to avoid an animal. Her car travelled up anMore >>
Police say the driver swerved to avoid an animal.More >>
Saturday, May 18 2013 8:03 PM EDT2013-05-19 00:03:45 GMT
Senator Bernie Sanders is touring the state this weekend with a special guest. Sanders and the Danish Ambassabdor to the United States are hosting town hall meetings in Burlington, Brattleboro and Montpelier. TheMore >>
Sanders and the Danish Ambassabdor to the United States are hosting town hall meetings.More >>
Saturday, May 18 2013 7:56 PM EDT2013-05-18 23:56:03 GMT
Saturday marked a new beginning for Castleton State College students. "Were all gathered here, getting fired up, having a good time," explained Castleton graduate, David Carrier. The 500 graduates hadMore >>
It's graduation day for the class of 20-13 at Castleton State College. And just for the occasion, the college invited back an alumnus with a strong connection to the school.More >>
Saturday, May 18 2013 7:51 PM EDT2013-05-18 23:51:14 GMT
Young bikers were learning the rules of the road in South Burlington Saturday. Kids who brought their bikes to the Dorset St. Park received free checks for their brakes, chains, and tires. Helmets alsoMore >>
and much more... making sure kids are safe before they hit the roads this summer.More >>
Saturday, May 18 2013 7:49 PM EDT2013-05-18 23:49:26 GMT
On a sun-soaked Saturday, Karen Trayah and her dogs enjoyed the sights, sounds, and of course smells of a festival for fidos. "It's called Woofstock, however, this is our 1st year doing it here at theMore >>
Making sure our furry friends have a place to call home.More >>
Friday, May 17 2013 7:54 PM EDT2013-05-17 23:54:10 GMT
The door to room 118 at the Liberty Inn and Suites is gone-- busted by police during an early morning drug raid. They say tenant Julie Herron, 41, was selling heroin out her room. She was living thereMore >>
A South Burlington drug bust exposed new abuses of the state's homeless voucher program. A couple was arrested for selling heroin out of their motel room, and police say the state was footing the bill for their stay.More >>