Vermont Low Income Trust for Electricity

The creation of VLITE was due to the proposed purchase of CVPS by GazMétro and the merger of CVPS and GMP into one company in 2012. As part of this transaction a Memorandum of Understanding was included, which defined the inclusion of VLITE as a component of the merger approval.

A significant ownership interest in VELCO was transferred by CVPS to (Vermont Low Income Trust for Electricity (VLITE), a public benefit, nonprofit corporation. As an owner of VELCO, VLITE has the power to nominate three independent directors to serve on VELCO’s board of directors.