Submitted by: Green Mountain Power Corporation
Posted: Mar 30, 2007 – 04:34 PM EST
Mar. 30 /CSRwire/ - COLCHESTER, Vt.--(BUSINESS WIRE)--March 30, 2007--Green Mountain Power (NYSE: GMP) and the AARP today announced that the Vermont Public Service Board has given approval to a low-income Pilot Program, which would provide a discount on monthly energy charges to eligible low-income customers after Green Mountain Power's acquisition by Gaz Metro is completed.
"As a result of discussions in the regulatory process for our merger agreement with Gaz Metro, Green Mountain Power proposed that $1 million be devoted to fund a three-year Pilot Program to assist low-income customers. We hope the Pilot Program will help us and the state better understand the needs of the low-income community so that we can determine the best, most effective ways to help customers who struggle with their electric bills," said Chris Dutton, Green Mountain Power president and chief executive officer.
Under the Pilot Program, Green Mountain Power will provide a 10 percent discount for participating low-income customers, who would also be protected from disconnection when the weather is expected to be below freezing. The Pilot Program would be available to customers whose annual household income is at or below 200 percent of the federal poverty level.
"We're pleased that the Vermont Public Service Board and Green Mountain Power recognize the positive impact an electric assistance program like this can have on our most vulnerable Vermont households," said Philene Taormina, AARP Vermont advocacy director. "It represents an important first step in addressing a critical affordability problem facing thousands of Vermonters."
Before the program goes into effect, Green Mountain Power will request the Vermont Public Service Board to modify its alternative regulation plan to implement the Pilot Program. The Board has indicated it would expect to review it expeditiously once filed.
Green Mountain Power (www.greenmountainpower.biz) is an electric utility operating company that transmits, distributes and sells electricity and utility construction services in the State of Vermont in a service territory with approximately one quarter of Vermont's population. It serves approximately 90,000 customers.
Copyright Business Wire 2007
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