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

Governor Wolf Urges Congress to Prohibit Department of Justice from Disrupting Medical Marijuana Programs

first_imgGovernor Wolf Urges Congress to Prohibit Department of Justice from Disrupting Medical Marijuana Programs Medical Marijuana,  National Issues,  Press Release,  Public Health Harrisburg, PA – In a letter to Congress, Governor Tom Wolf today again expressed his concern over any interference by the federal government in Pennsylvania’s medical marijuana program implementation.“As Congress returns to session and continues moving forward on an appropriations bill for the 2018 fiscal year, I encourage you to support the amendment by Congressman Rohrabacher that prohibits the Department of Justice from using federal funds to prevent states from implementing a law that authorizes the use, distribution, possession, or cultivation of medical marijuana.“Twenty-nine states have passed legislation legalizing medical marijuana and there is broad support among the medical community of its benefits. Unfortunately, the Trump administration seems intent on impeding those suffering, including children and veterans, from getting the relief that is available to them.“Republicans and Democrats came together in the Pennsylvania General Assembly to send the legislation legalizing medical marijuana to my desk. We met with families who told stories of their children’s suffering and how medical marijuana offered them possibilities that were never there before. I am proud to say that Pennsylvania is on track for full implementation of its medical marijuana program in early 2018.”The Medical Marijuana Program was signed into law by Gov. Wolf on April 17, 2016. Since that time, the Pennsylvania Department of Health has:Completed the Safe Harbor temporary guidelines and Safe Harbor Letter application process, as well as approved 294 applications;Completed temporary regulations for: growers/processors; dispensaries; practitioners; and laboratories, which have all appeared in the Pennsylvania Bulletin;Released applications for medical training providers and laboratories;Issued permits to 27 entities for dispensaries and 12 entities for grower/processers;Developed the Medical Marijuana Physician Workgroup; andAwarded a contract to MJ Freeway for electronic tracking of medical marijuana.Governor Wolf’s letter concludes, “Failure to pass this amendment will force more suffering on some of our most vulnerable constituents. I urge you to support the Rohrabacher amendment to ensure that our citizens are able to receive the relief they so desperately need.”Read full text of the letter below. You can also view the letter on Scribd and as a PDF.Dear Congressman Dent:In June of this year, I wrote to Attorney General Sessions expressing my concerns over any interference by the federal government in Pennsylvania’s medical marijuana program.As Congress returns to session and continues moving forward on an appropriations bill for the 2018 fiscal year, I encourage you to support the amendment by Congressman Rohrabacher that prohibits the Department of Justice from using federal funds to prevent states from implementing a law that authorizes the use, distribution, possession, or cultivation of medical marijuana.Twenty-nine states have passed legislation legalizing medical marijuana and there is broad support among the medical community of its benefits. Unfortunately, the Trump administration seems intent on impeding those suffering, including children and veterans, from getting the relief that is available to them.Republicans and Democrats came together in the Pennsylvania General Assembly to send the legislation legalizing medical marijuana to my desk. We met with families who told stories of their children’s suffering and how medical marijuana offered them possibilities that were never there before. I am proud to say that Pennsylvania is on track for full implementation of its medical marijuana program in early 2018.Failure to pass this amendment will force more suffering on some of our most vulnerable constituents. I urge you to support the Rohrabacher amendment to ensure that our citizens are able to receive the relief they so desperately need.Sincerely, September 06, 2017 SHARE Email Facebook Twitter TOM WOLFGovernorLetter to Congress Regarding Department of Justice Interference With Medical Marijuana by Governor Tom Wolf on Scribdlast_img read more