SOURCE: Green Mountain Power

Green Mountain Power

Green Mountain Power

February 07, 2012 11:02 ET

GMP, CVPS Launch Merger Website

Website Will Inform Public, Increase Transparency

COLCHESTER, VT--(Marketwire - Feb 7, 2012) - Green Mountain Power and Central Vermont Public Service have launched a new website,, packed with information on the pending merger of the companies.

The joint GMP-CVPS site contains important information for customers, including the package of merger benefits, as well as a calendar highlighting the rigorous state and federal regulatory approval process now underway.

The site includes status updates on all the required approvals necessary for the sale of CVPS to GMP parent, Gaz Metro Limited Partnership, and the merger of the two Vermont utilities. So far, five of the 10 necessary approvals have been received or waived, including approvals from CVPS shareholders, the U.S. Department of Justice, and other states in the region.

The site also includes information on the key benefits for customers, the Rutland area and investors; the strategic fit between the two companies' long and proud Vermont history and their similar cultures; and a newsroom with releases containing details of the sale and review process.

"We plan to continue our proud tradition of delivering reliable, clean and affordable power for Vermonters," GMP President and CEO Mary Powell said, noting the merger will generate $144 million in guaranteed savings for customers over the first 10 years -- and more savings beyond that. "Together we will chart a future that builds a stronger Vermont with a commitment to the families and businesses of our state."

The site contains a link to the GMP-CVPS petition seeking the Vermont Public Service Board's (PSB) approval, which lays out the case for the merger, and a link to the PSB's webpage related to the Board's review.

The site is designed to be simple yet informative. It will be updated regularly to provide customers, media and others interested in the merger with a quick snapshot of the approval process as it evolves.