GMP plans to limit rate increases
Green Mountain Power Corp. has come up with a plan to limit rate increases to 2.46 percent this year and no more than 2.5 percent the following year.
GMP filed its two-year rate plan Thursday with the Public Service Board .
GMP said the two-year proposal uses $13 million in cost savings related to last year’s merger of GMP and Central Vermont Public Service Corp. The savings would reduce $24 million in costs associated with GMP’s share of New England-wide investments in the transmission network.
If approved by the PSB, the first year rate increase of 2.46 percent would take effect Oct.1.