2 Vt. towns, dam owner to mediate hydro valuation - WCAX.COM Local Vermont News, Weather and Sports-

2 Vt. towns, dam owner to mediate hydro valuation

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VERNON, Vt. (AP) - Two Vermont towns on the Connecticut River and the energy giant TransCanada are going to use a mediator as part of an effort to agree on the value of hydroelectric dams in Vernon and Rockingham so they can avoid a trial.

A spokesman for TransCanada Hydro Northeast says the company is appealing an "increase in property taxes" on four Vermont generating stations, Vernon and Rockingham, and two in the Northeast Kingdom.

The state and town appraise the Vernon dam at almost $40 million. TransCanada says it's worth just under $21 million. Vermont appraises the Bellows Falls dam at $108 million, TransCanada $62 million.

TransCanada's Davis Sheremata tells the Brattleboro Reformer they're hopeful for a settlement.

Vernon attorney Richard Coutant says he doesn't know how flexible the company will be.

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