Frigid weather raises utilty's power prices - WCAX.COM Local Vermont News, Weather and Sports-

Frigid weather raises utilty's power prices

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This long, cold winter has meant a jump in power buying prices for Vermont's largest utility.
It's one of those winters that seems to be never ending. And while you are paying much more to heat your homes, the cold snap is also raising the cost of electric generation. Green Mountain Power executives say the steep drop in temperatures put constraints on the grid, causing prices to jump to levels they haven't seen in more than five years.

"So what's happened is is the extreme cold made energy prices on the market go very high. We are very fortunate in Vermont we have a lot of long-term contracts that we've secured that provide really affordable power, but on the super cold days we're out in the market having to purchase extra energy as well; that has been very concerning for the price of power this year," said GMP's Mary Powell.
Green Mountain Power says this jump in power purchase costs will not affect what their customers pay for electricity.

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