Common Contracts

SETTLEMENT AGREEMENT

Settlement Agreement • May 7th, 2001

• Contract Type
  Settlement Agreement
• Filed
  May 7th, 2001

The Providence Gas Company (“ProvGas” or the “Company”), the Division of Public Utilities and Carriers (the “Division”), The Energy Council of Rhode Island (“TEC-RI”) and The George Wiley Center (together, the “Settling Parties”) have reached agreement on terms for a 21-month extension of the Price Stabilization Plan (“PSP”). The negotiated extension includes certain modifications to reflect changes in the Company’s costs of service since the commencement of the PSP, approved by the Rhode Island Public Utilities Commission (the “Commission”) in August 1997. The negotiated changes to the PSP and the reasons for the term of the negotiated extension are detailed herein. This Agreement is intended to supercede and replace the terms of the existing PSP as of October 1, 2000.