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

Making headlines this week


Here's a look at some of this week's biggest newsmakers and the headlines you may have missed.

in Local

Deerfield Apple Thief Facing Charges

apple farm

Deerfield Police pulled over the woman in the Mercedes after receiving a report that someone was illegally harvesting apples from trees at Clarkdale Fruit Farm.

in Local

Easthampton’s Route Ten Closes Again, This Time For A Water Main Break

waste water

It happened around one Thursday morning between Florence Road and Highland Avenue. The road did not reopen until around two that afternoon. It was the second time in 24 hours that the road was forced to close.

in Local

Westfield Road Rage Incident Nets Arrests

police lights

On an altercation on Route 20, a female motorist told police that four men in a car waved a gun at her. When police pulled the car over, there were only three men inside and no gun.

in Local

Western Mass Opioid Awareness Effort Wins Federal Grant


Congressmen Jim McGovern and Richard Neal have announced that Rural Opioid Overdose Reversal Grant is being awarded to ongoing opioid awareness programs in Berkshire and Franklin counties and the North Quabbin region.