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Vt Gas promises no rate hike ahead


BRIAN: DESPITE ALMOST NON-STOP BRIAN: DESPITE ALMOST NON-STOP
STEWART: OPPOSITION, IN COURT, STEWART: OPPOSITION, IN COURT,
AND IN THE COURT OF PUBLIC AND IN THE COURT OF PUBLIC
OPINION, VERMONT’S NATURAL GAS OPINION, VERMONT’S NATURAL GAS
UTILITY UTILITY
IS HOPING SOON TO COMPLETE A IS HOPING SOON TO COMPLETE A
PIPELINE EXTENSION FROM PIPELINE EXTENSION FROM
CHITTENDEN TO ADDISON COUNTY, CHITTENDEN TO ADDISON COUNTY,
IT’S A 41-MILE PIPELINE, WHOSE IT’S A 41-MILE PIPELINE, WHOSE
COSTS HAVE ROUGHLY DOUBLED FROM COSTS HAVE ROUGHLY DOUBLED FROM
THE ORIGINAL ESTIMANE, AND WHICH THE ORIGINAL ESTIMANE, AND WHICH
HAS BEEN THE TARGET OF ONE HAS BEEN THE TARGET OF ONE
DEMONSTRATION ANFTER ANOTHER, AT DEMONSTRATION ANFTER ANOTHER, AT
WORKSITES, EVEN IN REGULATORY WORKSITES, EVEN IN REGULATORY
HEARINGS, SOME WHICH HAD TO BE HEARINGS, SOME WHICH HAD TO BE
SHUTDOWN BECAUSE OF THE SHUTDOWN BECAUSE OF THE
DISRUPTIONS. DISRUPTIONS.
TONIGHT, VERMOTN GAS SEES LIGHT TONIGHT, VERMOTN GAS SEES LIGHT
AT THE END OF THE, PIPELINE. AT THE END OF THE, PIPELINE.
AND THE COMPANY CEO DON RENDALL AND THE COMPANY CEO DON RENDALL
IS HERE TO GET US UP TO DATE. IS HERE TO GET US UP TO DATE.
THANKS FOR COMING IN THANKS FOR COMING IN
HOW SOON WILL YOU SWITCH ON THE HOW SOON WILL YOU SWITCH ON THE
GAS TO MIDDLEBURY? GAS TO MIDDLEBURY?
>>WE ARE AIMING FOR APRIL 1.>>WE ARE AIMING FOR APRIL 1.
WE ARE SO CLOSE. WE ARE SO CLOSE.
WE ARE ON THE LAST DAYS OF WE ARE ON THE LAST DAYS OF
CONSTRUCTION. CONSTRUCTION.
WE HAVE THE 41 MILE PIPELINE TO WE HAVE THE 41 MILE PIPELINE TO
SERVE NEW CUSTOMERS. SERVE NEW CUSTOMERS.
WE HAVE GOT 40.5 MILES IN THE WE HAVE GOT 40.5 MILES IN THE
GROUND. GROUND.
WE HAVE 2200 FEET TO GO IN WE HAVE 2200 FEET TO GO IN
HINESBURG. HINESBURG.
WE ARE IN THE PROCESS OF WE ARE IN THE PROCESS OF
COMPLETING CONSTRUCTION RIGHT COMPLETING CONSTRUCTION RIGHT
NOW. NOW.
STEWART: LAST COST ESTIMATE, YOU STEWART: LAST COST ESTIMATE, YOU
WERE ON TARGET FOR THE QUARTER. WERE ON TARGET FOR THE QUARTER.
OBVIOUSLY, THIS HAS OBVIOUSLY, THIS HAS
MUSHROOMED. MUSHROOMED.
>>WE DO NOT EXPECT ANY MORE>>WE DO NOT EXPECT ANY MORE
SURPRISES. SURPRISES.
WE ARE ON TRACK TO FINISH. WE ARE ON TRACK TO FINISH.
STEWART: THE SUPREME COURT COURT STEWART: THE SUPREME COURT COURT
CHALLENGE STILL A CONCERN? CHALLENGE STILL A CONCERN?
>>THE SUPREME COURT HAS GIVEN>>THE SUPREME COURT HAS GIVEN
US PERMISSION TO HAVE ACCESS TO US PERMISSION TO HAVE ACCESS TO
THE PARK — THE PARK —
>>IN HINESBURG –>>IN HINESBURG —
>>IN HINESBURG TICKET SERVICE>>IN HINESBURG TICKET SERVICE
GOING TO OUR ALL THE CUSTOMERS GOING TO OUR ALL THE CUSTOMERS
THAT WE HAVE BEEN WAITING SO THAT WE HAVE BEEN WAITING SO
LONG IN ADDISON COUNTY INCLUDING LONG IN ADDISON COUNTY INCLUDING
THE INSTITUTIONAL CUSTOMERS, THE INSTITUTIONAL CUSTOMERS,
BUSINESSES, AND WE HAVE STILL BUSINESSES, AND WE HAVE STILL
GOT THE APPEAL PROCESS THAT WE GOT THE APPEAL PROCESS THAT WE
ARE GOING THROUGH IN THE SUPREME ARE GOING THROUGH IN THE SUPREME
COURT. COURT.
YOU HAVE ABOUT 50,000 CURRENT YOU HAVE ABOUT 50,000 CURRENT
CUSTOMERS. CUSTOMERS.
WHAT CAN FOLKS LIKE ME EXPECT ON WHAT CAN FOLKS LIKE ME EXPECT ON
OUR BILLS FOR THIS YEAR? OUR BILLS FOR THIS YEAR?
A LOT OF CONCERN ABOUT WHETHER A LOT OF CONCERN ABOUT WHETHER
THE COSTS WILL BE BORNE BY THE COSTS WILL BE BORNE BY
EXISTING CUSTOMERS BUT WE CAN EXISTING CUSTOMERS BUT WE CAN
YOU SAY ABOUT RATES? YOU SAY ABOUT RATES?
>>WE ARE — OUR RATES HAVE BEEN>>WE ARE — OUR RATES HAVE BEEN
VERY STABLE. VERY STABLE.
WHEN I TOOK THIS JOB, IT HAS WHEN I TOOK THIS JOB, IT HAS
JUST BEEN TWO YEARS NOW. JUST BEEN TWO YEARS NOW.
WE REALLY — WE HAD TWO GOALS. WE REALLY — WE HAD TWO GOALS.
TO BRING NATIONAL GAS SERVICE TO TO BRING NATIONAL GAS SERVICE TO
ADDISON COUNTY TO GIVE ADDISON ADDISON COUNTY TO GIVE ADDISON
COUNTY THE CHOICE OF A NEW COUNTY THE CHOICE OF A NEW
ENERGY SOURCE THAT CHITTENDEN ENERGY SOURCE THAT CHITTENDEN
COUNTY HAS ENJOYED FOR 50 YEARS. COUNTY HAS ENJOYED FOR 50 YEARS.
THE SECOND WAS TO KEEP OUR THE SECOND WAS TO KEEP OUR
COMMITMENT TO OVER CUSTOMERS. COMMITMENT TO OVER CUSTOMERS.
I AM PLEASED THAT WE HAVE BEEN I AM PLEASED THAT WE HAVE BEEN
ABLE TO ACCOMPLISH THAT. ABLE TO ACCOMPLISH THAT.
WE HAVE BEEN THROUGH AN WE HAVE BEEN THROUGH AN
INTENSIVE PROCESS OUR RATES ARE INTENSIVE PROCESS OUR RATES ARE
LOWER TODAY THAN THEY WERE LAST LOWER TODAY THAN THEY WERE LAST
YEAR. YEAR.
THEY ARE LOWER TODAY THAN THEY THEY ARE LOWER TODAY THAN THEY
WERE FIVE YEARS AGO. WERE FIVE YEARS AGO.
CUSTOMERS ARE PAYING $240 LESS CUSTOMERS ARE PAYING $240 LESS
ON AVERAGE — THEY ARE SET TO ON AVERAGE — THEY ARE SET TO
THE FLAT FOR NEXT YEAR AS WELL. THE FLAT FOR NEXT YEAR AS WELL.
WE HAVE JUST RESOLVED A WE HAVE JUST RESOLVED A
LONG-STANDING — WITH THE LONG-STANDING — WITH THE
DEPARTMENT. DEPARTMENT.
— —
>>WHEN –>>WHEN —
>>WE FILED THAT AGREEMENT TODAY>>WE FILED THAT AGREEMENT TODAY
WITH THE PUBLIC SERVICE POOR WITH THE PUBLIC SERVICE POOR
THIS AFTERNOON AND WE WILL BE THIS AFTERNOON AND WE WILL BE
PRESENTED THAT TO THE — PUBLIC PRESENTED THAT TO THE — PUBLIC
SERVICE BOARD IN THE COMING SERVICE BOARD IN THE COMING
WEEKS AND THAT CALLS FOR NO RATE WEEKS AND THAT CALLS FOR NO RATE
CHANGE. CHANGE.
>>THANK YOU FOR SHARING THE>>THANK YOU FOR SHARING THE
NEWS.

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