CVPS plans purchase of VEC’s southern Vermont territory

first_imgscostel Timothy McQuiston 2 6 2006-07-28T13:25:00Z 2006-07-28T15:57:00Z 2006-07-28T15:57:00Z 1 574 3275 CVPS 27 7 3842 10.2625 1474219382 news releaseSCostel@cvps.com(link sends e-mail) Costello, Stephen 471604707 Print Clean Clean 0 pt 0 pt 0 0 0 pt 0 pt MicrosoftInternetExplorer4st1\:*{behavior:url(#ieooui) } /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:””; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:”Times New Roman”;}July 28, 2006 The purchaseis the second announced by CVPS in recent months.  CVPS announced the purchase of RochesterElectric Light and Power, a privately held, 900-customer company,in April.  That purchase is awaitingregulatory approval, which is expected this summer. Customersaffected by the sale are in Halifax and parts of Andover, Dover, Newfane, Townshend, Wardsboro, Jamaica, Marlboro, Guilford, Vernon, Wardsboro, Wilmington, Windham, Whitingham and Readsboro. When thesale is completed, the former VEC customers will be covered by CVPSs 17 SERVE Standards, which measure everything fromreliability to customer service, and are reported to state regulators.  SERVE stands for Serving Everyone withReliability, Value and Excellence.  Thenew customers will also be eligible for all CVPS programs, including evenmonthly billing, Electripay and CVPS Cow Power”. Thisagreement consolidates service territories and provides CVPS with importantgrowth, President Bob Young said.  Itwill reduce local rates, and strengthens CVPS by providing new revenue and awider base to allocate fixed costs. CVPS plans purchaseof VECs southern Vermont territoryCentral Vermont PublicService will purchase the southern Vermont franchise territory of Vermont Electric Cooperative under an agreement designed to rationalizeservice territories and lower local electric rates. This areais virtually centered between CVPSs Springfield, Brattleboro and Sunderlandoffices, Hallquist said.  It makes more sense for CVPS than VEC toserve it.center_img Under theagreement, which must be approved by the Vermont Public Service Board, CVPSwill acquire VECs southern Vermont assets and the rights to serve 2,770customers, who will on average save about 8.1 percent under CVPS ownership,even after a pending 6.15 percent rate case is complete. CVPS, founded in 1929, is Vermonts largest electric utility, serving about151,000 customers.  More than 100companies have merged into CVPS since its founding. Four of fiveVEC employees in the region are expected to be hired by CVPS.  CVPS plans to maintain the current VECservice office in Wilmington. VEC ChiefExecutive Officer David Hallquist said the sale madesense for the co-op, as it would provide significant cash, while divesting aservice area far removed from most of VECsterritory, which is primarily in northern Vermont.  CVPSwill pay approximately $4 million for VECs southern Vermont assets and territory. Forward-Looking StatementsStatements contained in this report that are not historical fact areforward-looking statements intended to qualify for the safe-harbors from theliability established by the Private Securities Litigation Reform Act of1995.  Statements made that are not historical facts are forward-lookingand, accordingly, involve estimates, assumptions, risks and uncertainties thatcould cause actual results or outcomes to differ materially from thoseexpressed in the forward-looking statements.  Actual results will depend,among other things, upon the actions of regulators, performance of the VermontYankee nuclear power plant, effects of and changes in weather and economicconditions, volatility in wholesale electric markets and our ability tomaintain our current credit ratings.  These and other risk factors aredetailed in CV’s Securities and Exchange Commission filings.  CV cannot predictthe outcome of any of these matters; accordingly, there can be no assurancethat such indicated results will be realized. Readers are cautioned not toplace undue reliance on these forward-looking statements that speak only as ofthe date of this press release.  CV does not undertake any obligation topublicly release any revision to these forward-looking statements to reflectevents or circumstances after the date of this press release.last_img read more

Unai Emery sends message to Arsenal board after demoralising Leicester defeat

first_img Comment Advertisement Advertisement James Maddison and Jamie Vardy scored the goals in Leicester’s 2-0 win over Arsenal (Picture: Getty)‘I am speaking with the club to stay strong and recover,’ he said. ‘We also have young players who are growing up with us.‘I know we are receiving criticism but I have done before and I have recovered.‘I accept all the criticism. It is normal. Today we did one step ahead being better defensively.’In the end, a bad result. Before the first goal we were in the match and in the second half we started to push in and create chances but they are in a good moment and they won.‘The attitude was good, every player. Now is time to rest with the international break.More: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing Arsenal‘I’m sure we’re going to improve after that. We need to achieve, at home, confidence and to be strong.‘We didn’t lose [many games] but we draw so much, that’s what’s important for the table, but I think we can achieve the balance to be strong and get better in these matches.’Will Arsenal sack Unai Emery in the international breakYes0%No0%Share your resultsShare your resultsTweet your resultsMORE: Tony Adams identifies one major problem with Unai Emery’s Arsenal starting XI vs LeicesterMORE: Joe Cole slams Arsenal and Chelsea transfer target Wilfried Zaha Arsenal were convincingly beaten 2-0 by Leicester with pressure now mounting on Unai Emery (Picture: Getty)Arsenal manager Unai Emery has implored everyone connected with the club to remain calm following Saturday’s damaging 2-0 defeat at Leicester.The Spaniard described the match as a ‘must-win’ game on Friday but the Gunners rarely threatened to cause what would have represented an upset given the Foxes’ recent form.Second half goals from Jamie Vardy and James Maddison ensured the gap between the two clubs widened to nine points heading into the international break.Emery’s side registered just one shot on target during the 90 minutes and have now won just two of their last 10 Premier League matches, following on from a disastrous end to the previous campaign.AdvertisementAdvertisementADVERTISEMENTArsenal chiefs Edu and Raul Sanllehi watched on stoney-faced as the Gunners capitulated following Vardy’s opener and Emery was left pleading for patience in his post match press conference. Unai Emery sends message to Arsenal board after demoralising Leicester defeat Metro Sport ReporterSaturday 9 Nov 2019 8:47 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link205Shareslast_img read more