PSB gives approval for renewable energy option

first_imgCustomers interested in signing up for Greener Mountain Power can go to www.greenmountainpower.biz(link is external) or callGreen Mountain Power at 1-888-TEL-GMPC (1-888-835-4672.)Greener Mountain Power is a five-year commitment,by calendar year. Customers may withdraw at any time, but cannot sign up againuntil the end of the original five-year period. GREENMOUNTAIN POWER INTRODUCES NEW RENEWABLERATE David OBrien, commissioner of the Vermont Department of Public Service, said,We are very pleased that Green Mountain Power is implementing a green rate.This is an ideal way to offer consumers a choice of what energy sources theywish to support. Green Mountain Power Corporation (www.greenmountainpower.biz(link is external)) is aVermont-based energy services company serving 90,000 electriccustomers. Green Mountain Power will purchase certified renewable resources on theNew England power grid equal to the portion ofelectricity customers designate to purchase through Greener Mountain Power. Theprice of those resources will be locked in for five years, which will helpstabilize the Greener Mountain Power rate. When Vermont projects are available, they willreceive a priority. Likely candidates for inclusion would include wind, biomassand biogas. Green Mountain Power worked closely with the Vermont Department of PublicService and Renewable Energy Vermont in developing the program. The program is available to residential, commercial and industrial customers.Residential and small commercial customers can choose to have 25 percent, 50percent or 100 percent of their power come from renewable resources. Largeindustrial customers may choose a ten percent level, but greater amounts requirepermission from the Company. Our customers have expressed interest in being able to choose renewableresources and Im pleased that we will now be able to offer them that choice.Green Mountain Powers overall power mix is already low in fossil fuels, butunder our new program, customers can choose 100 percent renewable resources,said Chris Dutton, President and Chief Executive Officer of Green MountainPower. Weve called the program Greener Mountain Power to reflect thatgreener choice. -30- Customers pay a premium for the renewable resources of just over four cents perkilowatthour. For residential customers using 750 kilowatthours a month, signingup for 25 percent of their use under Greener Mountain Power would add $7.88 totheir $97.55 monthly bill, for a total of $105.43. March 14, 2006 Due to the laws of physics, actual electrons flow to the nearest need and cannotbe directed to specific locations. Through Greener Mountain Power, customerswill be financially supporting qualifying new renewable energy sources connectedto the New England electric grid but that powerwill not necessarily flow to their home. Andrew Perchlik, executive director of Renewable Energy Vermont, said, We werepleased to work with Green Mountain Power to develop this new renewable rate. Wethink it is important that Green Mountain Power customers now have the option ofa green rate to support renewable energy in Vermont and NewEngland. COLCHESTER, VT . . . Green Mountain Power Corporation(NYSE:GMP) announced today that its customers now have the choice of buying allor a portion of their power from renewable resources. The Vermont Public ServiceBoard has given its final approval to the program, effectiveimmediately. For further information, please contact Dorothy Schnure, Manager of CorporateCommunications, at 802-655-8418, David OBrien, Commissioner of VermontDepartment of Public Service at (802) 828-2321, or Andrew Perchlik, ExecutiveDirector of Renewable Energy Vermont at (802)229-0099.last_img

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