COLCHESTER, Vt., Mar 14, 2006 (BUSINESS WIRE) -- Green Mountain Power Corporation (NYSE:GMP) announced
today that its customers now have the choice of buying all or a
portion of their power from renewable resources. The Vermont Public
Service Board has given its final approval to the program, effective
"Our customers have expressed interest in being able to choose
renewable resources and I'm pleased that we will now be able to offer
them that choice. Green Mountain Power's overall power mix is already
low in fossil fuels, but under our new program, customers can choose
100 percent renewable resources," said Chris Dutton, President and
Chief Executive Officer of Green Mountain Power. "We've called the
program 'Greener Mountain Power' to reflect that greener choice."
Green Mountain Power will purchase certified renewable resources
on the New England power grid equal to the portion of electricity
customers designate to purchase through Greener Mountain Power. The
price of those resources will be locked in for five years, which will
help stabilize the Greener Mountain Power rate. When Vermont projects
are available, they will receive a priority. Likely candidates for
inclusion would include wind, biomass and biogas.
Green Mountain Power worked closely with the Vermont Department of
Public Service and Renewable Energy Vermont in developing the program.
David O'Brien, commissioner of the Vermont Department of Public
Service, said, "We are very pleased that Green Mountain Power is
implementing a "green" rate. This is an ideal way to offer consumers a
choice of what energy sources they wish to support."
Andrew Perchlik, executive director of Renewable Energy Vermont,
said, "We were pleased to work with Green Mountain Power to develop
this new renewable rate. We think it is important that Green Mountain
Power customers now have the option of a 'green' rate to support
renewable energy in Vermont and New England."
The program is available to residential, commercial and industrial
customers. Residential and small commercial customers can choose to
have 25 percent, 50 percent or 100 percent of their power come from
renewable resources. Large industrial customers may choose a ten
percent level, but greater amounts require permission from the
Customers pay a premium for the renewable resources of just over
four cents per kilowatthour. For residential customers using 750
kilowatthours a month, signing up for 25 percent of their use under
Greener Mountain Power would add $7.88 to their $97.55 monthly bill,
for a total of $105.43.
Due to the laws of physics, actual electrons flow to the nearest
need and cannot be directed to specific locations. Through Greener
Mountain Power, customers will be financially supporting qualifying
new renewable energy sources connected to the New England electric
grid but that power will not necessarily flow to their home.
Customers interested in signing up for Greener Mountain Power can
go to www.greenmountainpower.biz or call Green Mountain Power at
1-888-TEL-GMPC (1-888-835-4672.) Greener Mountain Power is a five-year
commitment, by calendar year. Customers may withdraw at any time, but
cannot sign up again until the end of the original five-year period.
Green Mountain Power Corporation (www.greenmountainpower.biz) is a
Vermont-based energy services company serving 90,000 electric
For further information, please contact Dorothy Schnure, Manager
of Corporate Communications, at 802-655-8418, David O'Brien,
Commissioner of Vermont Department of Public Service at (802)
828-2321, or Andrew Perchlik, Executive Director of Renewable Energy
Vermont at (802) 229-0099.
SOURCE: Green Mountain Power Corporation
Green Mountain Power Corporation
Dorothy Schnure, 802-655-8418
Manager of Corporate Communications
David O'Brien, 802-828-2321
Commissioner of Vermont Department of Public Service
Andrew Perchlik, 802-229-0099
Executive Director of Renewable Energy Vermont