Energy consolidation a poor choice
Opposition to the proposed GMP-CVPS merger has mostly centered on the $21 million owed by CVPS to its ratepayers, but there are far more fundamental issues at stake. The real question is, who should determine Vermont’s energy future?
Allowing electricity generation and distribution to be consolidated into a near-monopoly in the hands of Canadian transnational corporations would be a tragic mistake. And monopoly is clearly what’s in store, as an “Investor Factsheet” prepared by GMP’s corporate parent, Gaz Metro, makes clear: “Looking ahead, Gaz Métro sees a clear consolidation opportunity, as the Vermont market has 20 electric distributors.” That “consolidation opportunity” puts our small utilities directly in the cross-hairs of a fossil-fuel corporation that see Vermont’s natural resources, communities, and people as nothing more than a means to fatten their bottom line.
In fact, one of Gaz Metro’s corporate owners is Enbridge, a tar sands giant (and major polluter) that has been pushing a pipeline plan that would be even worse than the Keystone XL. If the merger goes through, companies like this will be making far-reaching decisions about Vermont’s future.
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