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

ED SHEERAN TELLS DONEGAL SINGER TO ‘KEEP SMASHING IT’

first_imgEd SheeranEd Sheeran has given Dublin/Dongal singer Eoin Glackin his seal of approval, tweeting to his 15 million followers that the musician was “smashing it”.Eoin, whose mum is Eileen McDaid from Ramelton,  met Ed at a Jamie Lawson gig in New York City earlier this week, where he passed along his album in hopes that the singer-songwriter might listen to it.And it looks like the megastar was impressed with what he heard after he sent the following tweet. He said: “I was at a mate of mine’s gig, Jamie Lawson.“He’s about to release an album on Ed‘s label [Gingerbread Records], so Ed was at the gig.“I just walked over – I had an album with me – and I just gave it to him.“He was cool about it, I didn’t want to hassle him too much. “He just took it off me and was just like ‘Thanks man’.“I didn’t think he’d really listen to it, but I guess he did.”Following the gig, the singer gave Eoin’s album a listen – and decided to get in touch via social media.“I’m listening now. Keep writing and keep smashing it.”Eoin shared a snap of the Tweet on his own account, before responding to the 24-year-old chart-topper. He replied: “Cheers Ed.“Much appreciated. See you down the road.“Great gig from Jamie too.”The singer will take to the stage at the Workman’s Club in Dublin on November 19. ED SHEERAN TELLS DONEGAL SINGER TO ‘KEEP SMASHING IT’ was last modified: October 5th, 2015 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)last_img read more