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Green Mountain Exits Connecticut Market

January 2003 - Green Mountain Energy Company announced that it is discontinuing operations in Connecticut's retail electricity market because of "regulations that make it cost prohibitive to bring pollution-free energy" into the state "as well as the overall lack of a competitive electric market." Specifically, the company maintains that the standard offer rate available to retail customers is too low and "does not reflect the true cost of electricity" and that new rules adopted by the New England grid system operator "place limitations and excessive costs" on the company's ability to secure wind energy for Connecticut customers.

Green Mountain currently serves 1,312 customers in the state, who will be returned to their default electricity suppliers. The company said that it will focus its East Coast efforts on expanding its customer base in New Jersey, New York and Pennsylvania.

News Release - Green Mountain Energy Company Pulls Plug in Connecticut

Green Mountain Contact - John Holtz (609) 304-2770

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