COLCHESTER, Vt.—Vermont's second-largest power company is asking state regulators to approve a 3.1 percent rate increase.
Colchester-based Green Mountain Power Corp., says it needs the increase to pay for its share of reliability upgrades to the New England transmission grid, as well as increases in taxes, depreciation and infrastructure investments.
Vermont utilities pay four percent of the costs of transmission upgrades around New England. Utility ratepayers in other New England states reciprocate by helping to pay for Vermont transmission upgrades.
If the Public Service Board approves, the increase, the monthly bill for a GMP customer using 600 kilowatt-hours a month would climb by $$2.91, from $93.62 to $96.53.
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