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Rate Decrease Planned For GMP Customers

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Green Mountain Power has agreed to lower rates by .76 percent starting in October.

Some good news Friday for customers of Green Mountain Power, the state's largest electric utility. The company has agreed to lower rates starting in October by .76 percent.

 
Utility spokeswoman Kristin Carlson says the decrease in part stems from cost savings achieved by a 2012 merger between G-M-P and Rutland-based Central Vermont Public Service Corporation. 
 
"This is our third rate decrease in the last four years and it's particularly significant because it comes off a 2.5 percent rate decrease last year. So when you add this all up, customers are actually paying lower rates than they were back in 2013," she said.
 
The plan to lower rates followed negotiations between GMP, the state and AARP, which represents older Vermonters. The decrease still must be approved by the state Public Service Board.