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

SU women’s club ski team prepares for nationals in Oregon after 1st place win at regionals

first_img Published on March 2, 2015 at 12:01 am Contact Eva: [email protected] Syracuse University’s Women’s Club Ski Race Team qualified for nationals in Oregon after taking first place at regionals last week. The ladies are set to compete in Mount Bachelor in Oregon March 2 through March 7.Practicing two to three times a week, for at least two hours a practice session, skiing has become a way of life for individuals on the team who have been training for an opportunity such as nationals since a young age.Kelsey Dignes, a senior health and exercise science major and captain of the team, attended a ski academy and has been racing since she was a young girl.“This is going to be my last real race ever in the 17 years I’ve been racing,” Dignes said. “I’d say 80 percent of my life has been dedicated to this. It’s going to be bittersweet for me, but I have a great group of girls out there.” Dignes said the team puts in a huge amount of time and sacrifice to prepare for its competition. Despite the fact that the team is a club team, it is a misconception that they don’t work hard to reach their goals. AdvertisementThis is placeholder text“A lot of what people don’t notice, is how much of (our time during) the week we put into this,” Dignes said. “We pay for the trips out of pocket. Even as a club, we put a lot of stock into the sport.”Jocelyn Werle, a sophomore advertising major, said she was drawn to Syracuse University partially because of her lifelong passion. “I started skiing at age 6, later going to a ski academy where the day was split between academics and skiing,” Werle said.Werle also said excitement for the national competition stems from the dedication that she has put toward the sport, the chance to go out west and from the opportunity to race against worthy competitors. Isabella Lynch, a sophomore television, radio and film major, and a first-season competitor on the team, said it is not just a chance to showcase the team’s dedication, but an opportunity to have fun. “I am happy with the stacked lineup, and I’m honestly just excited to be here,” Lynch said. “It’ll be fun to ski in a beautiful area, out in the sunshine.”Besides the chance to replace the smaller hills of central New York with the high slopes of the West Coast, Lynch said she and the girls are excited to reunite with other teams.No matter the outcome of this week’s nationals, Dignes said that just getting to this point with such a tight-knit group is a win itself.For Werle, it is not only skill level, but an expressed love of the sport that has brought the team to nationals. Said Werle: “Skiing is unique. It’s such an individual sport, but at the same time, it’s the team effort that really counts in the end.” Comments Facebook Twitter Google+last_img read more