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 National, World

Netanyahu says Iran is threat to Israel, world

netanyahuspeech

The Israeli Prime Minister called for action over Iran's nuclear program.

in Local

Final jury to be chosen in Boston Marathon bombing trial

Tsarnaev

Just one final step remains before a jury is seated in the federal death penalty trial of Boston Marathon bombing suspect Dzhokhar Tsarnaev.

in Local

Baker: I’ll reduce number of Massachusetts homeless families

Charlie Baker

Efforts to catch families before they fall into homelessness would get a boost under a plan being pushed by Gov. Charlie Baker.

in Local

Massachusetts delegation divided on Netanyahu speech

elizabeth warren

Massachusetts' all-Democratic congressional delegation is split over the decision of Israeli Prime Minister Benjamin Netanyahu to accept an invitation by House Republicans to address a session of Congress.

in Local

Amherst Plans For Blarney Blowout

by Jason Picard, Courtesy of Daily Hampshire Gazette

Six downtown Amherst bars have agreed to delay their opening time Saturday until the late afternoon.