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RESOLUTION AS INTRODUCED 2007-2008

JOINT HOUSE RESOLUTION

State of Vermont

House of Representatives

Montpelier, Vermont

Joint House Resolution


J.R.H.  10

Joint resolution in strong opposition to the Public Service Board’s recently authorized rate increase plan for the Green Mountain Power Company

Offered by:  Representative Obuchowski of Rockingham

Whereas, in January 2006, Governor James Douglas entitled his annual state of the state address to the General Assembly “Making Vermont Affordable for Vermonters,” and

Whereas, in his address, he stated that “high energy costs” and other factors have resulted in “a challenging economic environment [that] all conspire to drive our young people to seek a more affordable life elsewhere,” and

Whereas, the governor continued that “Vermont has the 6th highest cost of living in the nation, despite no major metropolitan areas” within the state’s boundaries, and

Whereas, the governor stated that Vermont is “becoming financially out of reach for middle and low-income residents, many of whom are native Vermonters whose families go back generations,” and

Whereas, in his address, the governor cited the need for economical and reliable sources of energy, and

Whereas, the governor concluded his remarks that January day by stating “let us advance an agenda of affordability for all Vermonters so that this generation and all those that follow may enjoy the blessings of our magnificent state and the promise of Vermont,” and

Whereas, the governor’s astute observation that affordability is a central theme in the lives of Vermonters should be applied in all sectors of the state’s economy, and

Whereas, the order of the Public Service Board, dated December 22, 2006 and effective January 1, 2007, awarding a 9.09 percent rate increase to Green Mountain Power Company (GMP) customers, is hardly in the spirit of the governor’s call to make Vermont more affordable, and

Whereas, even though the 9.09 percent rate increase that the PSB awarded to the utility is below the 11.95 percent increase that the company had requested, the company’s ratepayers will still be required to pay an additional $20.043 million above the existing rates, and

 

Whereas, even more contrary to the governor’s economic objective of making life in Vermont more affordable, the public service board also approved a plan that authorizes GMP to institute regular quarterly rate adjustments that could result in substantially higher financial burdens on ratepayers, and

Whereas, although the plan, in exchange for the new quarterly rate adjustments, provides GMP a lower return on equity, this exchange is tipped strongly in favor of the company and against the best economic interest of the average Vermonter, now therefore be it

Resolved by the Senate and House of Representatives:

That the General Assembly expresses its strong opposition to the recent order of the Public Service Board implementing a 9.09 percent rate increase, and a three year rate adjustment plan for Green Mountain Power Company, and be it further

Resolved:  That the secretary of state be directed to send a copy of this resolution to John Volz, chair of the public service board, and to Green Mountain Power Company in Colchester.

 

    

 

____________________________              Attested to:

Gaye R. Symington

Speaker of the House

 

____________________________              ____________________________

Brian E. Dubie                                             Donald G. Milne

President of the Senate                               Clerk, House of Representatives

 

 



Published by:

The Vermont General Assembly
115 State Street
Montpelier, Vermont


www.leg.state.vt.us