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CVPS and GMP file merger petition with Public Service Board

first_imgGreen Mountain Power Corporation (GMP) and Central Vermont Public Service (CVPS) today filed a petition with the Vermont Public Service Board (PSB) for the planned acquisition of CVPS by Gaz Métro Limited Partnership (Gaz Métro) and the merger of GMP and CVPS into one, stronger utility. Gaz Métro, GMP and CVPS announced in July the acquisition and the agreement to merge that provides significant benefits for customers, community, employees and shareholders, including a commitment to $144 million in customer savings over 10 years, a public ownership interest in VELCO, and the establishment of the Headquarters for Operations and Energy Innovation in Rutland.”Today’s filing with the PSB represents an important step in the process of combining two great Vermont companies,” said Mary Powell, President and CEO of GMP and Larry Reilly, President and CEO of CVPS. “CVPS and GMP have a long history of bringing affordable, clean and reliable power to our customers. This combination is a unique opportunity that will allow us to deliver lower rates and higher quality service than if the companies continued to operate as stand-alone entities — while maintaining the strong local bonds that set Vermont utilities apart.”The combination of CVPS and GMP will produce $144 million in customer savings over the next decade. The merger will generate permanent cost reductions and customer savings will grow to as much as $500 million over a twenty-year period. Due to the commitment to no layoffs, as well as the complexity of the integration, the full realization of annualized savings will take six years to achieve. During that time, the new combined company would share in anticipated savings while ensuring that customers receive $144 million of cumulative benefit over the first 10 years.The agreement also includes other benefits in addition to customer savings. The new combined company will transfer 33% of the voting shares in VELCO, Vermont’s transmission utility, to a new public benefit entity, which will diminish the new combined company’s voting control of VELCO to less than 50%. The new public entity will provide $1 million annually — largely generated by dividend from the VELCO stock — to support a low-income rate program.The Rutland region will remain part of the new utility’s corporate identity, with the merged company locating its Headquarters for Operations and Energy Innovation in Rutland. There will be no layoffs, other than some executive officer positions due to the consolidation, nor mandatory relocation of employees. Additional benefits for the Rutland region include the establishment of a new downtown facility, $200,000 for regional economic development and support for the downtown, and new “Solar City” program in Rutland. Finally, the new, combined entity will build on CVPS’s extensive community support efforts that are already underway.The combined utility will also deliver even better service to customers in a number of ways. For example, a more contiguous service area will aid in storm recovery as resources can be deployed more uniformly than is possible today and crews from the separate utilities will no longer have to travel across the other company’s service territory to work in a district.The PSB will establish a schedule for the regulatory proceedings. The full petition can be downloaded at http://www.greenmountainpower.com/about/gmpcvpsmerger.html(link is external).This press release is for informational purposes only. Statements that are not historical facts are forward-looking and involve risks and uncertainties that could cause actual outcomes or results to materially differ from those expressed in this release. Readers are cautioned not to place undue reliance on these forward-looking statements and such statements speak only as of the date of this release. MONTPELIER, VT–(Marketwire – September 02, 2011)last_img read more

As Tom Koehler nears return, Dodgers’ bullpen emergency passes

first_imgLOS ANGELES — When May began, any sign of progress from Tom Koehler couldn’t come fast enough for the Dodgers. Their bullpen was a rotating cast of newcomers and holdovers, strung together by the common thread of inconsistency. Koehler, one of two pitchers acquired over the winter to bolster the relief corps, hadn’t thrown an inning since suffering a mild sprain to his anterior shoulder capsule in spring training.Koehler’s first game is probably still a month away, but the right-hander threw a bullpen Monday afternoon for the first time since spring training. It lasted only 15 pitches but it was a tangible, long-awaited sign of progress.Ironically, the Dodgers’ bullpen emergency seems to have passed. On May 16, the team was 10 games below .500. Its bullpen was among the worst in the league, allowing a .766 on-base plus slugging percentage.Since then, the Dodgers have won eight of 10. The bullpen has limited opponents to a .487 OPS during the streak. Only the Seattle Mariners’ bullpen has been better during that time. Newsroom GuidelinesNews TipsContact UsReport an Error “Some of the results haven’t been what we would’ve expected,” Manager Dave Roberts said. “To try to put guys in the best situations to have success and, sometimes, for it not to go well is tough for everyone. But you’ve got to believe in what you’re doing and trust the guys that you have. Fortunately, the last week has gone better.”Roberts cited his starters’ latent ability to pitch deeper into games as a boon to the bullpen. Walker Buehler, Ross Stripling and Kenta Maeda have pitched no fewer than six innings during the streak.A bullpen game May 19 in Washington D.C. threw the bullpen off its kilter. As a result, Dodger relievers have been asked to record only one fewer out per game on average during the streak compared to the 42 games that came before. More than the starters lasting longer, the bullpen has simply pitched better.Left-hander Scott Alexander, the Dodgers’ other offseason bullpen acquisition, hasn’t allowed a run since returning from Triple-A. Right-hander Erik Goeddel hasn’t allowed a run since he was claimed off waivers from Seattle. Kenley Jansen hasn’t allowed a run since May 2. The set-up roles have stabilized significantly since its rocky April start.Koehler hopes he can join this group around the All-Star break.center_img “I’m right where I want to be,” he said. “We’re on schedule if not a little ahead of where we originally planned.”WRITING ON THE WALLLeft-hander Edward Paredes was recalled from Triple-A Oklahoma City last Wednesday. He was with the club for five days but did not pitch.Prior to Monday’s game against the Philadelphia Phillies, a team with just two left-handed hitters, Paredes was optioned back to Triple-A. Right-hander Yimi Garcia was promoted to the majors for the third time this season.Garcia, 27, has a 7.71 earned-run average in 4-2/3 innings with the Dodgers this season, and a 3.55 ERA in 12-2/3 innings at Triple-A.ALSODodgers pitcher Hyun-Jin Ryu played long toss from more than 150 feet. The left-hander hasn’t thrown off a mound since suffering a groin strain on May 2. Ryu is on the 10-day disabled list. … The Dodgers and Phillies held a moment of silence at 3 p.m., in the middle of the Dodgers’ batting practice, in observance of the national moment of remembrance on Memorial Day. … Triple-A outfielder Alex Verdugo returned to the lineup following a five-game absence after he rolled his ankle. Verdugo collected two hits as Oklahoma City’s designated hitter in a loss to Nashville. … A team of medics attended to Mark Hammond, a photographer for Black News Service, after he was struck in the Dodgers’ dugout by a Chris Taylor foul ball in the third inning. The game paused briefly and Hammond was eventually assisted from the dugout.last_img read more

Whirlwind finish

first_img“This had to be the wildest Daytona 500 I’ve ever watched,” Childress said. “I kept my eyes shut there for a little while it was so wild.” It took several moments for NASCAR to declare the winner, finally giving it to Harvick and spoiling what would have been the biggest victory of the 48-year-old Martin’s career. “I really wanted to win that thing,” Martin said. “They were going to have to pry it out of my fingers, man.” Harvick did just that, never letting off the gas as he charged from 29th to first in 22 laps. “My go-kart experience over the winter paid off, because I didn’t let off the floor and we just kept hitting things and the wall and bouncing off everything,” Harvick said. “But man, this is the Daytona 500. Can you believe it?” With the checkered flag in sight, Martin simply came up short – a mere length of a car hood – in a wild, wreck-filled finish. Harvick beat the sentimental favorite to win NASCAR’s premier race Sunday, six years to the day after Dale Earnhardt was killed on the final lap. Just days after his death, it was Harvick who was hired to replace him, and he rewarded Richard Childress with the car owner’s second Daytona 500 victory – Earnhardt won the other in 1998. After a cheating scandal nearly ruined the Great American Race, it was just the finish NASCAR needed to put racing back in the spotlight. Five teams were busted for breaking the rules during Speedweeks – including two-time winner Michael Waltrip, who broke the NASCAR code by tampering with his fuel before qualifying and humiliated Toyota in its Nextel Cup debut. The scandal put the sport in the spotlight for all the wrong reasons, and NASCAR ratcheted up its penalty process to prevent its biggest race from turning into a joke. Finishes like this one might fix everything. “Anytime there’s a good race on the racetrack, it helps mend things,” Harvick said. “But I think it’s still going to take a little bit to get over some of the issues that happened.” For at least one night, the talk will be of the victory Martin had in his sight and the way Harvick yanked it from him. Martin, making his 23rd attempt at a 500 win, could see the checkered flag when Harvick barreled along the outside of him. Just as Harvick pushed into the lead, Busch wiggled behind them and bumped into Matt Kenseth to start a melee. Kenseth was spinning and Greg Biffle was, too. Bowyer flipped onto his roof and through the grass, flames shooting through the windshield. But Harvick and Martin continued to race side by side, waiting for NASCAR to call for a caution. When it finally came, Harvick and Martin were at the finish line, and Harvick was just barely ahead. The winning margin was .123 seconds, and NASCAR had to review the tape just to be sure who was going to Victory Lane. Harvick never doubted the outcome. “I got so excited at the end of the race, and I knew we had won,” he said. “I just didn’t realize how excited I was, and I punched the dang mirror out of the car. Just overexcited, I guess. Knocked the mirror right out.” Martin finished second, followed by Jeff Burton, Harvick’s teammate, and Mike Wallace, who raced his way into the 500. Fifth place was rookie David Ragan, the kid who replaced Martin when he left Roush Racing this winter after 19 seasons. Martin left the powerhouse Roush team because he wanted to ease his way into retirement, and he got the opportunity to do it with a partial schedule at Ginn Racing – a second-tier team bought last year by a Florida land developer trying to satisfy his love of NASCAR. The decision was questioned by those who wondered if Bobby Ginn could give the ultra-competitive Martin cars capable of winning. Boy, did he ever. “I haven’t even seen the finish. It is what it is,” Martin said. “We were inches or feet or whatever. We were short. It was so close, but it was second. I let it slip away, slip through my fingers, and I’m fine with that. I am very proud of what this team did for me this weekend.” Martin led 26 laps and was out front when a five-car accident brought racing to a standstill with five laps to go. It made for an agonizing 11 minutes, 39 seconds for Martin, who sat idly in his car trying to plot his strategy during the stoppage. When racing resumed with two laps to go, Martin seemingly needed only to hold off Busch in a sprint to the finish. He weaved high and then low to block Busch’s attempts, which may have briefly distracted him from Harvick. Before the frantic finish, the race was shaping up to be a fight between Tony Stewart and Kurt Busch, who combined to lead 130 of the 200 laps. But they wrecked each other while leading the race with 48 laps to go. Stewart was leading coming out of the fourth turn when his Chevrolet wiggled just a bit. Busch, closing fast, couldn’t avoid running into Stewart’s bumper, and both cars careened into the outside wall. Busch, who led 95 laps in his bid to give car owner Roger Penske his first Daytona 500 win, was heartbroken. “We both got taken out of the Daytona 500 on my mistake,” he said from inside his car. “I made the first mistake. I apologize to (Stewart), but I know that doesn’t mean anything now.” Stewart, who led early but dropped to the back of the field after a pit road miscue, led 35 laps and just had surged back to the front when he wrecked. It dropped Stewart to 0 for 9 in Daytona 500s. “It just wasn’t meant to be today,” he said with a smile. “I’m still disappointed, but we’ve got a lot to be proud of. We had an awesome Speedweeks.” 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!center_img DAYTONA BEACH, Fla. -So focused was Mark Martin on hard-charging Kevin Harvick, he had no inkling of the chaos unfolding behind him. With less than a mile to go in the Daytona 500, Kyle Busch’s car was spinning. Clint Bowyer’s was upside down and on fire. Five other cars bumped and banged, careening into one another in a smoke-filled mass of twisted metal. last_img read more


first_imgThe Ulster final schools senior boys took place on Thursday last at the Aura leisure centre.Scoil Mhuire Buncrana emerged victorious beating Pcc Falcarragh by a score line of 2:1. In what was an exciting game it was Buncrana who took control in the first half. Ryan Curran in the centre of the park was having a huge influence on the play.They headed in at the break 1:0 courtesy of a penalty by Harry Forshaw. Pcc emerged from the halftime break with more prominence and really put it up to Buncrana and had the better of the play in the early exchanges. It was now becoming a real game with both sides producing some wonderful football. Buncrana had a spell which resulted in a fantastic move finished by the influential Darragh o Connor to lead 2:0.It was all Buncrana now and against the run of play with 20mins left Falcarragh got a soft goal scored by Lee o Brien who was not long on the park. This spurred PCC on and it gave the strong Falcarragh support something to cheer.They bombarded the Buncrana goal but some stout defending by the Scoil Mhuire rear guard kept PCC at bay to run out eventual 2:1 winners. PCC should be proud of themselves especially Harley and Mc Garvey who were the driving force behind a spirited team performance.In what was a great exhibition of football and a great promotion of schools soccer in the province it is now Scoil Mhuire who advances to the All-Ireland semi-final where they will meet Malahide Community School. Venue : Gortakeegan, Tuesday 6th of February kick off 3:30pm. SCOIL MHUIRE, BUNCRANA OVERCOME PCC FALCARRAGH IN ULSTER SCHOOLS FINAL was last modified: March 6th, 2012 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)last_img read more