News

Vermont Yankee to share revenue with utility

Vermont Yankee to share revenue with utility

Photo: Associated Press

RUTLAND, Vt. (AP) – Vermont’s largest electric utility says a revenue sharing deal with the Vermont Yankee nuclear power plant could mean about $17.8 million in lower rates for customers.

Green Mountain Power said Monday the money is from a revenue sharing agreement stemming from the 2002 sale of Vermont Yankee to Entergy Nuclear.

In a statement issued by GMP, Public Service Department Chris Recchia says the revenue sharing came about because Vermont Yankee power was sold on the open market this winter when the price was unusually high.

GMP President Mary Powell says the utility is working with state regulators on the best way to return the money to customers to reduce rates.

Vermont Yankee is scheduled to cease operations later this year.

Recent Headlines

in Local

8-10 Year Sentence in UMass Gang Rape Case

Bile

A Pittsfield man convicted of raping a UMass student has been sentenced to 8 to 10 years in state prison.

in Local

Education Fuels Hampshire County Economy

noho downtown

Knowledge continues to fuel the Hampshire County economy according to Northampton Chamber of Commerce Director Suzanne Beck

in Local

Hinge Nightclub Up For License Hearing

alcohol

Hinge nightclub at 48 Main Street will be called before the Northampton License Commission tonight.

in Local

Hazzard, Douangmany Win Amherst School Board Seats

election

Phoebe Hazzard and Viraphanh Douangmany have won seats on the Amherst School Committee.

in Local

Easthampton To Consider Big-Ticket Items

Easthampton

Community Preservation Act spending in the amount of 415-thousand will be before the Easthampton City Council tonight.