Central Vermont Public Service and the Vermont Department of Public Service have agreed to a rate settlement that will leave customer rates flat. In November, CVPS was authorized to increase its rates by one-third of a percent, while the DPS had suggested a decrease of 0.43 percent effective Jan. 1.Rates will remain unchanged pending Public Service Board approval of the settlement with the DPS. Accordingly, the bill for a residential customer who uses 500 kilowatt-hours of electricity per month will remain $73.11.By comparison, the same customer would pay up to $83.16 elsewhere in Vermont, and as much as $117.45 elsewhere in New England, according to the Edison Electric Institute.CVPS’s rates will serve as the base rates for a new alternative regulation framework approved by the PSB in September. Under the plan, CVPS’s rates will be adjusted every quarter to account for specified changes in power costs, and annually for specified changes in other costs and earnings.The new regulatory framework includes incentives to encourage CVPS to become more efficient and share related savings with customers. As part of the settlement, the PSB will investigate CVPS’s employee levels to ensure the company continues to operate efficiently.
New branch designs must make people feel safe.by: Paul Seibert, CMCTeller transactions are dropping at the rate of 5-7 percent a year at many credit unions–and, in some urban markets, by 20 percent a year. ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Simultaneously, traditional methods of CU income generation are declining, necessitating reductions in branch operating costs. Fortunately, the timely evolution of branch technologies helps to make this possible through the use of cash recyclers and dispensers in teller pods.Many credit unions have, or are considering, transitioning from traditional tellers to universal associates. This move recognizes the need to reduce the number of transaction-only employees and refocus staff energy toward relationship development. This new position combines both sides of the lobby’s functions-tellers and member service representatives. At the same time, the workstation often changes from a traditional teller line to a more open format teller pod.The shift to teller pods and universal associates has many benefits to credit unions. Still, at least twice a month I receive a call or email from a financial institution asking about teller security in the new branch models. The black and white of it is, cash dispensers and recyclers remove cash from tellers’ control or quick access, making the machines a more secure delivery model. continue reading »