Vt. regulators approve GMP rate hike
MONTPELIER, Vt. (WCAX) - Vermont regulators on Wednesday signed off on a rate increase for Green Mountain Power, the state’s largest electric utility.
The Vermont Public Utility Commission approved the GMP’s request for a 4.69% increase to the base rates. GMP has sought modifications to its multi-year ratemaking plan to make investments in improved electric transmission and residential power battery storage initiatives.
The PUC says despite concerns from a handful of customers over increasing electric bills during the pandemic and GMP’s monopoly status, the rate hike is “cost-based” and the upgrades provide “net benefits for all customers.”
Copyright 2021 WCAX. All rights reserved.