Tag Archives: CVPS/GMP Merger

Senate approves “nuclear option” for merger

The Senate has just pushed the button on the nuclear option, approving in a voice vote an amendment that will prevent utilities from recouping in rates the $21 million they must repay to CVPS customers before any merger can go through.

It’s a move that utility executives have warned could kill the $702 million merger deal between CVPS and GMP. And the Shumlin administration – which has warned legislators against meddling in regulatory affairs – just shipped a press release unloading on the body.

“This matter is now in the hands of the (Public Service) Board. The Senate’s action today interferes with an open PSB docket, undermines the credibility of the regulatory process, and is an extreme overreach of legislative jurisdiction,” Shumlin said in a written statement. Continue reading