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

USC tennis, lacrosse stars earn Pac-12 Players of the Week

first_imgThree Trojans — Gussie Johns and Kerrigan Miller of women’s lacrosse and Gabby Smith of women’s tennis — were honored as Players of the Week by their respective conferences after their play last week. Johns, a junior goaltender, was named MPSF Defensive Player of the Week, while Miller, a freshman midfielder, was named MPSF Rookie of the Week. Smith, a junior, also earned Pac-12 Player of the Week honors for the second time this season.Johns and Miller were recognized after their stellar play over the weekend, leading the No. 3 USC women’s lacrosse team (2-0) to a big 11-10 overtime win against rival No. 9 Northwestern.Johns, a junior goalie for the Trojans and current member of the U.S. Women’s National Team, made a handful of key stops against the Wildcats on Saturday, including a crucial one-on-one save early in the overtime period to keep USC’s winning hopes alive. The Washington, D.C. native led the nation in goals-against average last season (6.04) and has maintained that level of play in 2017. In the game against Northwestern, Johns recorded career-highs of 17 saves and eight ground balls to keep the Wildcats’ high-powered offense at bay. Those 17 saves (on 35 shots) accounted for the second most saves in a single game in USC history, while the eight ground balls tied the program record and was the third-highest total in MPSF conference history. The Defensive Player of the Week award is the third of Johns’ career and her fourth award overall.Miller, the top-ranked recruit in the country coming out of Bayport-Blue Point High School in Bayport, N.Y., has lived up to the billing in this early part of the 2017 season. In addition to scoring the first hat trick of her career on Saturday, the freshman midfielder caused three turnovers and recorded two ground balls and one draw control in addition to scoring the game-winning goal with just four seconds left in overtime. For her efforts, Miller was also named InsideLacrosse National Rookie of the Week. This marks the freshman’s first career MPSF weekly award, and she is the school’s first Rookie of the Week since Johns was selected in March of 2015.Johns, Miller and the rest of the Trojans will now head out east when they battle against No. 4 Florida in Gainesville, Fla. on Friday at 3:30 p.m.In addition, Gabby Smith, a junior on the women’s tennis team, earned her second Pac-12 Player of the Week honor this season after extending her winning streak to 10 straight matches over the weekend. The Henderson, Nev., native is currently ranked No. 25 in the nation in singles play after gutting out a 6-2, 4-6, 6-4 win against Terri Fleming of UCLA on Saturday.Smith has been USC’s most consistent contributor this spring, defeating five nationally ranked competitors over the course of the season. She is also currently ranked No. 47 nationally in doubles play with senior partner Zöe Katz. The nod is the third of Smith’s career all-time and her second weekly honor in 2017 after winning the same award on Jan. 23. Now, she and the rest of the Trojans will gear up for a big matchup against California in Berkeley, Calif. at noon on Saturday.last_img read more