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Burlington biomass plant pays off bond - WCAX.COM Local Vermont News, Weather and Sports-

Burlington biomass plant pays off bond

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BURLINGTON, Vt. -

Burlington's McNeil Generating Plant was burning more than just woodchips Monday morning.

City leaders also threw a bond into the generator. The bond-burning was to celebrate all the debt incurred to build the generating plant 30 years ago which has now been paid off. When Burlington launched the McNeil plant back then, Bernie Sanders was Mayor and the pitch was to provide lower priced, renewable energy for the Queen City. Mayor Miro Weinberger says that bet paid off.

"It reminds us of the importance, if you continue to plan for the future and continue to take those bold actions and put Burlington in a position to continue to be a leader, to continue to do right by the environment, right by the rate payers of Burlington," said Mayor Miro Weinberger, D-Burlington.

The bond was for $8 million. Burlington Electric says that paying it off frees up cash for other projects. Rates are not expected to change because Burlington voters approved a bond to buy a hydro-electric facility.

 

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