Hydro-Québec signs Vermont power deal

Vermont’s two largest utilities signed an agreement Thursday with Hydro-Québec for the purchase of up to 225 megawatts of electricity between 2012 and 2038, in Quebec City.

The financial details of the agreement with Central Vermont Public Service and Green Mountain Power were not released.

The agreement was welcomed by Quebec Premier Jean Charest and Vermont Governor Jim Douglas, who were on hand for the announcement.

"This new contract will provide stable, clean, renewable power at a competitive price," said Douglas.

Under the agreement, the two utilities said they would be seeking similar volumes to what they currently receive from Hydro-Québec and indicated they also intend to make power available to other Vermont utilities.

Currently, Vermont gets about one-third of its power from Hydro-Québec.

During his visit to Quebec City, Douglas also received the province’s highest honour.

He was named an officer of the Order of Quebec.

Charest recognized Douglas for "the importance that [he] has given to the development of relations with Quebec."