Central Vermont Public Service
| Company type | Subsidiary |
|---|---|
| Industry | Electric utility |
| Founded | 1929 |
| Founder | Samuel Insull |
| Fate | Acquired by Gaz Métro |
| Successor | Northern New England Energy Corporation / Green Mountain Power |
Area served | Vermont, United States |
| Products | Electricity |
| Parent | Gaz Métro |
Central Vermont Public Service Corp. (CVPS) ranked as Vermont's leading electricity provider, catering to 160,000 customers across 163 different communities. The company's income was largely derived from electricity sales conducted through its subsidiaries, including C.V. Realty, Inc., East Barnet Hydroelectric, Inc., and Catamount Resources Corp.
History
Established in 1929 by merging eight electric companies in Vermont under the leadership of Samuel Insull, CVPS was among the pioneers in wind energy adoption and contributed to nuclear power initiatives via the Yankee Atomic Electric Company.
Throughout the 1990s and early 2000s, CVPS encountered difficulties in maintaining profitability. On June 27, 2012, it was acquired by Quebec-based Gaz Métro for $472 million. This acquisition incorporated CVPS into Gaz Métro’s U.S. operations under Northern New England Energy Corporation and its subsidiary Green Mountain Power. Gaz Métro secured the purchase by surpassing a competing bid from Canadian firm Fortis Inc..