CVPS, DPS agree on smaller rate increase of 7.67 percent

first_imgCentral Vermont Public Service (NYSE-CV) and the Vermont Department of Public Service have agreed to a rate settlement that will reduce a November rate request.Driven by reliability and transmission improvements and increasing power costs, in November CVPS asked the Vermont Public Service Board to authorize an 8.34 percent rate increase under the company’s alternative regulation plan. CVPS and the DPS have agreed to reduce the increase, which is expected to take effect Jan. 1, to 7.67 percent. The agreement also amends and extends the company’s alternative regulation plan.Under the settlement, which must be approved by the PSB, the company’s allowed return on equity would remain at the current level of 9.59 percent. CVPS agreed to reduce its return on equity request and make an additional $13 million investment in the Vermont Electric Power Company by the end of the year, changes that reduced the size of the rate increase.Even with the increase, CVPS states that its rates will remain among the lowest of the major utilities in New England.Under the proposed base rate change, a residential customer using 500 kilowatt-hours per month would experience a $5.91 increase, from $78.11 to $84.02. By comparison, the same customer would pay as much as $121.80 elsewhere in New England, according to the Edison Electric Institute.Since 1999, CVPS rates have risen at a fraction of the rate of inflation in the energy sector, with a handful of increases and decreases, including a 1.15 percent decrease in July. Overall, rates in 2011 are expected to be 21.8 percent higher than in 1999. Based on the latest federal data available, the Consumer Price Index for Energy has increased 81 percent.‘We have worked hard to mitigate the need for a rate increase, and are pleased that the VELCO investment will help reduce the impact on customers,’ President Bob Young said. ‘The increase is driven in large part by increases in power costs and a large increase for reliability improvements and regional transmission costs.‘I wish we could forego an increase, but we must continue to invest in our systems and pay our share of regional transmission costs,’ Young said. ‘While it doesn’t eliminate the impact, I am proud to say we will continue to provide a value that is extremely competitive in the region, even after the increase.’Other Vermont utilities have received rate increases ranging from 3.11 percent to as much as 30.76 percent in the past 8 months.The new rates will serve as the base rates for 2011 under CVPS’s amended alternative regulation framework. Under the plan, CVPS’s rates are adjusted up or down every quarter to account for specified changes in power costs, and annually for specified changes in other costs and earnings.Source: CVPS. 12.22.2010last_img read more

Ice Bucket mania inflicts Sumner County… don’t forget to donate to ALS

first_imgby Tracy McCue, Sumner Newscow — If you are on social media, you can’t help but see it. People are taking the ALS Ice Bucket Challenge. It’s a quite simple game. You issue a challenge to three people on video that within 24 hours they must pour a bucket of ice water over their heads.  All to help donate or provide awareness for ALS. To learn how to donate click here. It started as a lark.. then celebrities got into the act… then people on Facebook, Instagram, Twitter, etc. started pouring cold ice water over their head as a challenge.Now, people in Sumner County especially in Wellington are getting into the act. Yours truly counted 24 different postings Monday night of people doing the ALS Ice Bucket Challenge.While the rules say with the ALS ice bucket challenge is to either donate money OR get a bucket of ice water dumped on your head, others are saying people should donate AND get a bucket of ice water dumped on your head. Others can simply donate to the cause without getting water dumped on their head.How you play the game is your business, but Sumner Newscow likes the option of charitable giving.Here are a few things about the ALS Ice Bucket Challenge and how it got started:•The earliest known version of this challenge was known as the “Cold Water Challenge.” It was started by the Sheaves For Christ division in New Zealand with a video dated April 26, 2014 challenging others to donate $100 to the mission’s fundraiser.•The challenge was popularized in the United States on June 30, 2014 when the Golf Channel Morning Show televised the social media phenomena and performed a live on-air ice bucket challenge. Soon after, on July 15, 2014 golfer Chris Kennedy did the ice-bucket challenge and challenged his cousin whose husband had ALS for 11 years. A day later she did it in front of her house and the movement began in earnest.•The ice bucket challenge has taken up speed. One can say the ice bucket challenge hit Sumner County in full force last week and by Tuesday it has become a local phenomenon.•The ALS Association announced that it had received $15.6 million in donations compared to $1.8 million during the same time period July 29 to August 18 in the prior year. These donations came from both existing donors and 307,598 new donors to the Association. So what is ALS?ALS is an acronym for Amotrophic lateral sclerosis. A lot of people call it the Lou Gehrig’s Disease – a famous New York Yankee baseball player in the 1920s and 30s who died of the disease in 1941.The disorder causes muscle weakness and atrophy throughout the body due to the degeneration of the upper and lower motor neurons. Individuals affected by the disorder may ultimately lose the ability to initiate and control all voluntary movement.People inflicted with ALS will notice awkwardness when walking or running or notice they are tripping and stumbling. Some may experience slurred speech and have trouble swallowing.Overtime, patients experience more difficult moving, swallowing and speaking or forming words. Pneumonia can develop and maintaining a healthy weight. Eventually people with ALS die of respiratory failure or pneumonia.If you have a ice bucket challenge you would like to share with the public on Sumner Newscow, we will gladly promote it providing you make a donation to ALS. Please send it in a form of a Youtube video so we can share it with others. Our e-mail address is sumnernewscow@gmail.com.Follow us on Twitter. Close Forgot password? Please put in your email: Send me my password! 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Comment as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Submit Comment Subscribe to None Replies All new comments Comments by IntenseDebate Enter text right here! Reply as a Guest, or login: Login to IntenseDebate Login to WordPress.com Login to Twitter Go back Tweet this comment Connected as (Logout) Email (optional) Not displayed publicly. Name Email Website (optional) Displayed next to your comments. Not displayed publicly. If you have a website, link to it here. Posting anonymously. Tweet this comment Cancel Submit Comment Subscribe to None Replies All new commentslast_img read more